Property Type

Lee & Associates Negotiates Sale of Industrial Portfolio in Fort Worth

by Haisten Willis November 10, 2014

FORT WORTH & BRYAN, TEXAS — Lee & Associates has negotiated the sale and lease back of a two-building industrial portfolio in Fort Worth and Bryan. Mark Graybill and Adam Graham of Lee & Associates’ Dallas/Fort Worth office represented the unnamed seller for the two properties. The portfolio consists of a 48,000-square-foot industrial building located at 7200 Jack Newell Blvd. in Fort Worth, and a 26,000-square-foot industrial building at 2801 N. Earl Rudder Freeway in Bryan. Both properties are manufacturing facilities with outside storage and long-term leases. Triple Net Acquisitions purchased the property and was represented in-house in the transaction.

November 10, 2014

Muskin Commercial Arranges Sale of Apartment Complex in Austin

by Haisten Willis November 10, 2014

AUSTIN — Muskin Commercial LLC has arranged the sale of Retama Trace Apartments, a 42-unit complex located at 9209 Northgate Blvd. in Austin. The property was built in 1984 and sits on 1.3 acres of land. Amenities include a swimming pool, picnic courtyard and native landscaping. Karl Haussmann of Hindsite 20/20 Real Estate represented the buyer, 3405 Dimond LLC. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, 9209 Northgate LLC.

November 10, 2014

Retail Texas

SHOP Cos. Investment Sales Brokers Sale of Retail Center in Metro Dallas

by Haisten Willis November 10, 2014

COPPELL, TEXAS — SHOP Cos. Investment Sale has brokered the sale of Riverchase Plaza, a 21,116-square-foot retail center in Coppell. The property sits 25 miles northwest of downtown Dallas at the corner of Macarthur Boulevard and Belt Line Road. Riverchase Plaza was 94 percent leased at the time of closing to tenants including Bank of America, O’Reilly Auto Parts, Pro-Cuts and Allstate Insurance. Tommy Tucker with SHOP Cos. Investment Sales represented the seller, a Dallas-based LLC. A Florida-based private investor purchased the property.

November 10, 2014

Office Texas

CBRE Arranges 125,000 SF Office Lease in Dallas

by Haisten Willis November 10, 2014

DALLAS — CBRE has arranged the lease of 125,000 square feet of office space to SoftLayer, an IBM Co. SoftLayer will occupy space within the Stanford Corporate Center located at 14001 N. Dallas Pkwy. The firm will relocate its Dallas corporate headquarters in February 2015 from its current location at 4849 Alpha Road. IBM acquired SoftLayer in July 2013. The new headquarters has capacity for more than 700 employees. Clay Vaughn, Steve Rigby and Mike Cleary of CBRE represented SoftLayer in the transaction. Brooke Scheurich and Fred Noblett of CBRE’s project management team are guiding the design service selection and construction process for SoftLayer’s new office. Jerry Averyt and Greg Trout of Henry S. Miller Cos. represented the landlord, TCI Stanford LLC.

November 10, 2014

Multifamily Texas

M&M Arranges Sale of 77-Unit Apartment Complex in Fort Worth

by Haisten Willis November 10, 2014

FORT WORTH — Marcus & Millichap has arranged the sale of Travis Gardens, a 77-unit apartment property located in Fort Worth. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, NSpire Assets. Silva also secured the buyer, a private investor. The new owner assumed an existing Fannie Mae loan to acquire the property. Travis Gardens is located at 2901 Travis Ave. and is near Texas Christian University and JPS Hospital.

November 10, 2014

Retail Washington Western

Guitar Center to Open at Redmond Town Center

by Nellie Day November 10, 2014

REDMOND, WASH. – Guitar Center has announced plans to open at the Redmond Town Center next spring. The Southern California-based music company will occupy 15,000 square feet on the second level of the shopping complex, just above Eddie Bauer. Four new retailers are also set to join the center, which is located in Redmond, just northeast of Bellevue. They include Big 5 Sporting Goods, Evereve, Cow Chip Cookies and Jujubeet. The landlord is JSH Properties.

November 10, 2014

Arizona Retail Western

Retail Building at Emerald Design Center in Tempe Sells for $2.6M

by Nellie Day November 10, 2014

TEMPE, ARIZ. – A 38,225-square-foot retail building at Emerald Design Center has sold to Otium Real Estate Co. for $2.6 million. The free-standing building is located at 1725 West Ruby Drive. Otium is the owner/user entity of the current tenant, Salt Creek Home, a furniture store that has occupied the building since 2010. The showroom was built in 2006 as part of the 250,000-square-foot Emerald Design Center. The center features an eclectic mix of home furnishing retailers in the East Valley. Rick Robertson, Dave Johnson and Jerry Marrell of Lee & Associates represented both the buyer and the seller, Granco Enterprises, in this transaction.

November 10, 2014

California Industrial Western

Selective Real Estate Investments Buys Industrial Complex in North Hollywood

by Nellie Day November 10, 2014

LOS ANGELES – Selective Real Estate Investments has acquired an 82,660-square-foot industrial complex in North Hollywood for an undisclosed sum. The three-building complex is located at 11605 & 11611 Hart Street. The seller, Bobrick Washroom Equipment, has occupied the space since 1965. Selective Real Estate was represented by David Young and Chad Gahr of NAI Capital’s Encino office.

November 10, 2014

California Office Western

True Religion Apparel Leases 72,246 SF Office Building in Manhattan Beach

by Nellie Day November 10, 2014

MANHATTAN BEACH, CALIF. – True Religion Apparel has leased a 72,246-square-foot office building in Manhattan Beach. The new space is located at 1888 Rosecrans Ave. The jeans and apparel company will be relocating its corporate headquarters from nearby Vernon. The landlord is Continental Development Corporation. The transaction was executed by John Minervini, Erik Larson, Robin Dodson, Chris Tolles, Michael DeSantis and John Doyle of Cushman & Wakefield.

November 10, 2014

Arizona Retail Western

Popeye’s Louisiana Kitchen to Open New Location in Phoenix

by Nellie Day November 10, 2014

PHOENIX – Popeye’s Louisiana Kitchen will open a 2,565-square-foot outpost in Phoenix. The new restaurant is situated at the southwest corner of Central and Dunlap. It was formerly occupied by KFC. The site will be repurposed for the new Popeye’s location, which will open next year. Popeye’s was represented by Darren Pitts, Michael Clark, Nick Ault and Dave Cheatham of Velocity Retail. The landlord, an entity controlled by Lawrence Geyser & Associates, was represented by Jason Fessinger of Strategic Retail Group.

November 10, 2014

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