$19M in Financing Obtained for Reserves at 700 Acquisition

Florida real estate investors Robert Blau and Adam Jacobson obtained $18.5 million in financing to acquire the 180-unit Reserves at 700 in Big Springs, TX. Hunt Real Estate Capital provided the conventional Fannie Mae five-year term loan, amortizing over 30 years, with a 36-month yield maintenance period, followed by 21 months of 1% prepay and

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Cinemark Prepares to Build Eight-Screen CUT! at La Plaza Mall

Cinemark Holdings Inc. plans to build an eight-screen, dine-in theater at La Plaza Mall in McAllen, TX. The Plano, TX-headquartered Cinemark will begin construction on the project in April 2020, with the opening planned for early 2021. The dine-in theater concept, known as CUT!, will offer movie-goers made-to-order menu items and specialty cocktails that can

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Gulf Corp. Begins 132K-SF IH-35 Logistics Center

Dallas-based Gulf Corp. broke ground on a 131,718-square-foot, speculative industrial development in Laredo, TX. The property, dubbed IH-35 Logistics Center, is scheduled for completion in Q1 2020, and will offer 4,000 square feet of ground-floor office space, and a 1,000-square-foot, second-story warehouse office, along with 73 trailer parking spaces and 60 employee parking spaces. The

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Zyklus Heat Transfer Planning 300K-SF Industrial Build

Zyklus Heat Transfer Inc. will be building a 300,000-square-foot manufacturing facility in Normal Industrial Park, located in the East Texas City of Jacksonville. The local company, which had been acquired by Italy-based LU-VE Group, will be building on 20 acres at the 131-acre industrial park on Talley Nichols Drive. The facility will be used for

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ZXP Technologies Signs 89K-SF Distribution Center Lease

ZXP Technologies inked a deal with landlord Pontikes Development to take down 89,445 square feet of industrial space at Port 10 Logistics Center in Baytown, TX. The tenant’s new space is at 2700 E. Freeway, Building One, on the far east side of the Houston metropolitan area. Bob Berry, SIOR and Grant Hortenstine with Avison

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2106 W. Gentry Retail Center Changes Hands

A private investor, operating under the entity name of 2106 West Gentry LLC, traded a 7,428-square-foot retail property in Tyler, TX to a private buyer based in the North Texas city of Allen, TX. The East Texas seller ended its three-year hold on the asset at 2106 W. Gentry with the transaction. Evan Altemus and

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Parking Garage Planned for Under-Construction Citizens Tower

The Lubbock, TX City Council announced plans to build a $6.7 million, three-story parking garage south of the 204,000-square-foot Citizens Tower, which the city is currently renovating for its new home. City officials said that, with police headquarters and municipal court moving near the tower at 1208 14th St., more parking spots were necessary. There

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Gleco Plating Buys Industrial from Family Trust

Gleco Plating Inc. acquired a 54,000-square-foot industrial warehouse at 3800 W. Ursula Ave. in McAllen, TX. The property, bought from Goldman Family Management Trust, represents a relocation and expansion for the company. The North Texas-headquartered company’s current local office is at 7021 S. Bentsen Rd. in McAllen. Carlos Telles with CBRE in McAllen represented Gleco

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