AUSTIN-Cambridge Development Group, based in Houston, is gearing up for its first office project in Austin. The developer is planning a 175,000-sf office project on 4.5 acres along MoPac Expressway.

AUSTIN-P.T. Investments has secured a $3.7-million bridge loan for the 65-unit Park Terrace Apartments. Renovations are under way at the 30-year-old complex along Dawson Road. Construction should wrap up by May 1.

AUSTIN-Just barely a year old, nLine has just secured $7.4 million in second round funding as it makes plans to start searching for 40,000 sf of manufacturing space for a wafer inspection operation. The firm hopes to have production up and running by year's end.

AUSTIN-An immediate expansion plan is under way at one of two JP Morgan holdings that have just been bought by Kennedy-Wilson. The San Antonio buys add 385,465 sf to Kennedy-Wilson's two million sf San Antonio portfolio.

AUSTIN-Industrial brokers are wooing Dell Computer for a lease estimated to range from 400,000 sf to 600,000 sf. Dell's reviewing the list and hopes to have it whittled down to three or four in the two weeks.

AUSTIN-A Portuguese-based software developer has launched an Austin office, leasing space in the Stratum Executive Center. The 18,000-sf office will be used for project development and on-site customer training as well as the usual support services.

AUSTIN-The popular Alamo Drafthouse has signed a 10-year lease for its second theater location. Come late June, the owners will launch a second venue in the 17,000-sf Village Cinema in north Austin. First runs will continue.

SELMA, TX-SFX is strutting its newest entertainment venue, a 20,000-seat amphitheater located north of San Antonio. The 96-acre facility, under construction for 10 months, kicks off its season May 19.