The Texas Rangers Baseball Foundation joined with the city of Southlake and the Miracle League of Southlake to break ground on a new Texas Rangers Miracle League Field on May 1. The new field, Bicentennial Park, is located at 468 W. Southlake Blvd. Participating in the groundbreaking ceremony were Southlake Mayor John Terrell, foundation president and team Hall of Famer Jim Sundberg, Southlake Parks Development Corp. board member and City Council member Carolyn Morris, and Miracle League of Southlake President Phil Meyer. Also in attendance were Rangers second baseman and foundation member Ian Kinsler, Rangers shortstop Elvis Andrus, and Rangers Hall of Fame outfielder Rusty Greer. The Texas Rangers Baseball Foundation is making a $100,000 donation toward the new field. It will be the fourth facility for the Miracle League of DFW, joining ones in Arlington, Frisco and Irving.
Del Rio deal Marcus & Millichap Real Estate Investment Services has sold the Stonegate Apartments, a 112-unit multifamily property located in Del Rio, according to Bill G. Jordan, regional manager of the firm’s Fort Worth office. Boyan Radic, Mason Green and Moses Siller, investment specialists in Marcus & Millichap’s Fort Worth and San Antonio offices, had the exclusive listing to market the property on behalf of the seller, a Dallas-Fort Worth-based HUD developer. The buyer was a Colorado-based institutional investor and was also represented by Radic and Green. The buyer assumed the existing HUD 221 (d)(4) loan and will immediately refinance through the HUD 223 (a)(7) program. Marcus & Millichap REIS also has sold 701 Bear Cat, a 10,240-square-foot industrial property in Aledo, according to Jordan. Philip Levy and Chris Gainey, investment specialists in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, 701 Bear Cat LP. The buyers, two private investors, were secured and represented by Kelly Smith, an investment specialist in Marcus & Millichap’s Austin office. Built in 2005, the property is 100 percent occupied by two regional and local businesses.
Flex office NAI Robert Lynn has arranged the purchase of 39,750 square feet of office/warehouse space at 1201 and 1225 Forum Way South in Fort Worth. Michael Newsome of NAI Robert Lynn represented the buyer, Cowart Properties LLC, in the transaction. Noel Hutcheson of Colliers International represented the seller.
CCIM, UTD The CCIM Institute has accepted the University of Texas at Dallas as a university partner. “This partnership is an industry validation of our program and provides direct benefits to our school with access to real-world case studies, market demographics, trend research and leading technology tools,” said George DeCourcy, associate director of real estate programs, who has worked closely with the local CCIM chapter over the past two years on the partnership. UT-Dallas is among about 40 universities in the Chicago-based CCIM (Certified Commercial Investment Member) Institute’s University Alliance Program. The application process includes a rigorous review of the university’s real estate courses, commitment and standards. The CCIM alliance with the Naveen Jindal School of Management also gives students access to various scholarships and networking opportunities, DeCourcy said. The Naveen Jindal School of Management’s real estate program has grown rapidly in the last few years with an estimated 450 students taking real estate courses in 2013.
Irving renewal Truzzie Howard Real Estate renewed a 1,410-square-foot space at Plaza Tower, located at 2121 W. Airport Freeway in Irving. Truzzie Howard Real Estate specializes in listing, marketing and selling of residential properties but offers a variety of other services including FHA-VA acquired properties, property management, manufactured homes with lots, commercial and vacant land. Beaux Riley with SCM Real Estate Services represented the landlord in this transaction.
Grandmarc SCM Real Estate Services was given the nod to take over management and leasing duties for a retail space that is home to Cafe Brazil and XII Whiskey Bar and Grill, close to Texas Christian University. Spanning a block on West Bowie Street, Grandmarc’s 23,381-square-foot retail space sits on the ground level of the five-story structure. “Adding a high-end retail space right in the heart of the TCU campus to our portfolio was an opportunity we had to pursue,” said Chris Mendez of SCM Real Estate Services, who will be leasing the space. “It’s an excellent opportunity for us to contribute to a highly visible and busy community.”
Crystal Bridges The Crystal Bridges Museum of American Art, located there, was named one of the most outstanding construction projects of 2012, the Associated General Contractors of America recently announced. As a result, the project’s contractor, The Linbeck Nabholtz Joint Venture, led by Houston-based Linbeck Group LLC, was one of seven building division companies to receive the association’s Alliant Build America Award. “This is one of the most complex and challenging projects in our company’s history and we are honored to be recognized for our part in its success. We want to thank the Crystal Bridges Museum of American Art for their leadership, vision and support,” said David Stueckler, president and CEO for the Linbeck Group. The museum was funded by the Walton Family Foundation, so there is a Wal-Mart connection. It was designed by Safdie Architects and includes 60,000 square feet of gallery space, classrooms, a lecture hall, library, Great Hall and more, spread among eight connected buildings and outdoor areas surrounding two creek-fed reflecting pools. The project has a number of unique features that required expert planning, management and coordination by all members of the project team, which included Linbeck and Nabholz in joint venture, Safdie Architects, and structural and mechanical engineering firm Buro Happold.
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