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Texas

Park Place Dealerships to Develop 70,000 SF Porsche Dealership in Grapevine

GRAPEVINE, TEXAS — Park Place Dealerships is developing a Porsche dealership off Texan Trail and State Highway 114 in Grapevine. Construction on the two-story, 70,000-square-foot dealership is expected to start within the next 30 days, with completed slated for spring 2018. The project will create more than 180 temporary construction jobs and approximately 50 permanent jobs. Park Place Porsche will have the capacity to feature 21 display vehicles on the showroom floors and feature a shop..

February 17, 2017

Davis Holdings Purchases 33,000 SF Loft Office Building in Houston

HOUSTON — Davis Holdings has acquired a fully occupied office building located at 1500 McGowen St. in Houston. Skyland Lodge Tract sold the 33,000-square-foot property for an undisclosed price. Originally built in 1972 and renovated in 2002, the two-story, Class B office building features loft-style office space with modern building systems. Louis Rosenthal of JLL represented Davis Holdings, while David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller in the..

February 17, 2017

Venture Commercial Brokers Sales of Two Restaurant Properties in North Texas

WEATHERFORD AND GRAND PRAIRIE, TEXAS — Venture Commercial Real Estate has arranged the sales of two restaurant properties in north Texas. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture represented the sellers in both transactions. Raising Cane’s Chicken Fingers occupies both properties. In the first deal, RC Weatherford Partners sold a 3,587-square-foot, single-tenant, net-leased restaurant property located at 1824 S. Main St. in Weatherford. Beutler Exchange..

February 17, 2017

Marcus & Millichap Negotiates Sale of 87-Room Hotel in North Richland Hills, Texas

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of Best Western Northeast Mall Inn & Suites, a hotel located at 8709 Airport Freeway in North Richland Hills. A limited liability company acquired the 87-room hotel for an undisclosed price. Constructed in 1984 and recently renovated, the property features a fitness center, pool and spa, meeting space and fully equipped business center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited..

February 17, 2017

The Retail Connection Brokers 11,962 SF Retail Lease in Wichita Falls, Texas

WICHITA FALLS, TEXAS — The Retail Connection has arranged the lease of retail space in Wichita Falls. CitiTrends signed a lease for 11,962 square feet from Sikes Senter LLC. Jamie Streeter and Jack Weir of The Retail Connection represented the tenant, while Irys Citko of Rouse Properties represented the landlord in the deal.

February 17, 2017

Arrimus Capital Acquires 1,044-Bed Student Housing Property at the University of North Texas

DENTON, TEXAS — Newport Beach, Calif.-based Arrimus Capital has purchased Forum at Denton Station, a student housing property located at 201 Inman St. near the University of North Texas in Denton. Boca Raton, Fla.-based Parkland Development sold the purpose-built property for an undisclosed price. The 420,684-square-foot development features 14 three-story buildings offering a total of 348 units, or 1,044 beds. The units are available in one-, two-, three- and four-bedroom layouts and are..

February 16, 2017

Signorelli Begins Construction on Second Phase of Valley Ranch Town Center in The Woodlands

THE WOODLANDS, TEXAS — Signorelli Co. has started construction for the second phase of Valley Town Center in The Woodlands. Slated to open in late 2017, the Phase II will bring 320,000 square feet of retail space to the 1.5 million-square-foot master-planned development. T.J. Maxx, Ross Dress for Less, Rack Room Shoes and PetSmart have preleased space at the new phase. Additionally, Cinemark Theatres is developing a NextGen all-recliner theater at the property. The 10-screen theater will be..

February 16, 2017

CBRE Facilitates Sale of 67,837 SF Retail Property in Enid, Oklahoma

ENID, OKLA. — CBRE has arranged the sale of Neilson Square, a shopping center located at 3322-3518 E. Owen K Garriott Road in Enid. Dallas-based Dunhill Partners acquired the 67,837-square-foot property from Louisville, Colo.-based IPS Neilson Square LLC for an undisclosed price. Anchored by Staples and Old Navy, the property was 94 percent occupied at the time of sale. Jason Little and Justin Brannon of CBRE represented the seller, while Basel Bataineh, also of CBRE, assisted with financial..

February 16, 2017

Shinn-Addison Hospitality Opens 132-Room Home2 Suites by Hilton in Metro Dallas

ADDISON, TEXAS — Shinn-Addison Hospitality has opened Home2 Suites by Hilton Dallas Addison, located at 4875 Belt Line Road in Addison. The hotel features 132 suites with fully equipped kitchens and modular furniture, complimentary internet, community spaces, laundry and fitness facilities, a grab-and-go market, outdoor pool, fire pit and barbecue area. Magnolia Lodging manages the property.

February 16, 2017

PMZ Realty Capital Arranges $11.9M Acquisition Loan for TownePlace Suites in Irving

IRVING, TEXAS — PMZ Realty Capital has arranged an $11.9 million acquisition loan for TownePlace Suites by Marriott Las Colinas in Irving. The property offers 135 suites in studio, one- and two-bedroom layouts with fully equipped kitchens and free grocery delivery. Additionally, the hotel features a complimentary breakfast buffet, fitness center, outdoor pool and a 340-square-foot meeting room. The name of the borrower was not released.

February 16, 2017