July 29, 2010
ARA BROKERS SALE OF TWO HUNTSVILLE STUDENT HOUSING COMMUNITIES
Woodcreek Apartment Resort features a two-tiered pool with a hot tub and a water volleyball area. HUNTSVILLE, TEXAS — Apartment Realty Advisors (ARA) has brokered the sale of two off-campus student housing communities in Huntsville that serve the students of Sam Houston State University. Both properties are within walking distance of the school. Woodcreek Apartment Resort is a 196-unit property located at 1235 Josey St., and Cornerstone Apartment Homes is an 83-unit property located at 22090 Bobby K. Marks Drive. Both properties were built in 1983 and both feature swimming pools and hot tubs. The buyer was a San Antonio-based private investment group. Jeff Patterson and Kelly Witherspoon of ARA's Secondary Markets team, along with Chris Bancroft and Chris Epp of the firm's National Student Housing Group, represented the seller, a Texas-based private investment company.
MARCUS & MILLICHAP COMPLETES TWO DALLAS SALES
DALLAS — Marcus & Millichap has completed two Dallas sales. The first deal involved the sale of a 14,922-square-foot office building located at 6105 Windcom Court. The property is fully occupied, mostly by medical office tenants. Patrick Giles and Craig Lewin of Marcus & Millichap's Dallas office represented the seller, a local partnership, and procured the buyer, a local limited liability company. The second deal consisted of the sale of a 14,000-square-foot industrial building located at 1940 W. Northwest Highway. The building is currently vacant, but the tenant still has 1.5 years remaining on a triple-net lease. Scott Ryan of Marcus & Millichap's Dallas office and Steve Sauter of the firm's Palo Alto, Calif., office represented the seller, a California-based investor. The buyer was an undisclosed party out of San Antonio.
UCR ARRANGES LEASE IN BEE CAVE FOR PARMIDA HOME
BEE CAVE, TEXAS — United Commercial Realty (UCR) has arranged a lease within Bee Cave's Hill Country Galleria on behalf of Parmida Home. The furnishings retailer will occupy 10,500 square feet within the shopping center. It will be the company's second location in Texas. Dean Vandergriff of UCR's Austin office arranged the deal between Parmida Home and the landlord, Galleria Texas LLC.