HOUSTON-In four transactions, Houston-based L.J. Melody & Co. has structured $54 million in financing for office buildings from the East Coast to the West Coast. The largest package, $17 million, goes to the Churchill Hotel in Washington, DC.
HOUSTON-Sysco Corp., based in Houston, is tackling a 275,00-sf distribution center in Las Vegas. The project, which delivers in Q3 2002, will service southern Nevada, southern Utah and northern Arizona.
HOUSTON-Crescent Real Estate Equities has sealed a 75%-25% joint venture pact with JPMorgan Fleming Asset Management, on behalf of an unidentified pension fund. With Crescent's 25% interest, it also gets management and leasing duties for 5 Houston Center.
HOUSTON-The results of an Arthur Andersen survey, taken at a recent Houston seminar, show only 7% of the companies are wheeling and dealing online. Andersen has hired CA-based diCarta to develop its first Web-based contract management solution.
HOUSTON-Clay Development & Construction is undertaking a six-building project on 10 acres in the city's northwestern tier. CMI Moulding will buy its 30,000-sf office-warehouse while Dover Equipment will be leasing a 20,000-sf flex project.
HOUSTON-Prestige Rental Purchase and Leslie's Pool Supply are setting up new locations in the South Texas communities of Jasper and Beaumont. The deals have been sealed in talks between Houston's Boyd Page and Phelan Investments.
HOUSTON-The Harris County Houston Sports Authority is staking claim to land that's needed for the proposed $175-million basketball arena. Brokers have started the land drive, closing one deal and pushing for more to accommodate parking needs.
HOUSTON-Holliday Fenoglio Fowler has completed its move from the CBD to the West Loop-Galleria submarket. The firm has signed for 14,467 sf at One Post Oak Central, a 396,000-sf, class-A office building.
HOUSTON-It's back to the drawing boards on some amendments and clarifications for the Chapter 11 reorganization plan of Houston-based Stage Stores. A bankruptcy judge has set more hearings for June 29 and Aug. 8.
HOUSTON-Royal White Cement has signed for a 160,000-sf warehouse near the Port of Houston. The pending merger of Galveston and Houston ports seems to be having an advance impact, say brokers.