AUSTIN-Transworld Properties is closing in on a lease deal for its Stonebridge Plaza II, a 200,000-sf office project under way on one of the few open sites left in northwest Austin's Golden Triangle. A pact is expected to be signed within 60 days, says a company source.
DALLAS-Adept Technology Inc., headquartered in San Jose, CA, is opening sales and service centers in Dallas and Charlotte, NC. The Dallas office also includes a fully equipped training center.
HOUSTON-System Development, a Houston-based firm, has acquired the Tech Sym Building at 10500 West Office Dr. in west Houston. The class B, two-story structure is 90% occupied.
AUSTIN-Cygnal Integrated Products Inc., based in Austin, is joining a growing crowd of regional Internet solutions providers that is expanding through acquisitions. The firm, founded in March 1999, is buying out another Austin-based high-tech business in a bid for worldwide recognition.
PEARLAND, TX-Beazer Homes USA Inc. will develop a 527-acre community with an 18-hole golf course in a community south of Houston. The development will feature single-family homes, parks, lakes and a retail component.
DALLAS-Wilcox Development Services, will break ground in two weeks on an estimated $150-million, 750,000-sf expansion of its 13-acre Chase International Plaza, situated in the Far North Dallas submarket along the North Dallas Parkway in Farmers Branch. The two office towers represents the largest speculative undertaking in Dallas since the mid-1980s, says the company president.
AUSTIN-A group of high-profile investors marks its third year by forming a limited partnership to pour $64 million into a high-tech venture capital fund, a deal that comes just a month after it invested $500,000 into a $12-million round for Isochron Data Corp., an Austin wireless software maker. Most investments focus on entrepreneurial ventures in Texas.
AUSTIN-Relief may come in October to bring reverse annuity mortgages to the Lone Star state. The city-based Financial Freedom Senior funding Corp. says the lending, approved last year by state voters, will become reality when the FHA receives a new fiscal appropriation.
HOUSTON-Panattoni Development Co. is constructing a 242,000-sf industrial project Beltway 8 and West Little York in northwest Houston. The structure carries a late 2000 completion date.
HOUSTON-Northchase Investments LP is paying $8.5 million for three office properties owned by Prentiss Properties in northwest Houston. Holliday Fenoglio Fowler LP, a Houston-based commercial mortgage banking firm, has arranged the acquisition financing.
