HOUSTON — Phoenix-based Alliance Residential Co. has begun construction on the 246-unit Broadstone West Dallas, an apartment community located at the intersection of West Dallas and Gillette streets in Houston. The finished apartments will feature granite countertops, a washer and dryer package, stained-wood cabinets, track lighting and Berber-style carpeting. The complex will have a 5,000-square-foot clubhouse with a demonstration kitchen, massage room and iCafe. Other amenities will include a large swimming pool, outdoor cooking facilities, fitness center, central courtyard and separate park area. Final completion is slated for second quarter 2013.
SAN BENITO — Dallas-based RightQuest has broken ground on Phase II of the 110-unit Villages at Paso Real, a luxury multifamily community in San Benito. Phase II includes the addition of 70 apartment units, a playground, poolside cabana, laundry facility and detached garages. RightQuest is working on behalf of Brownsville-based Villages at Paso Real, LP. Austin-based Journeyman Construction is the general contractor of the project, Capstone Real Estate Services' San Antonio office is providing management services and IBC Bank is providing the financing for the development. The project is slated for a April 2012 occupancy.
DALLAS, CARROLLTON AND MESQUITE — Dallas-based Bradford Commercial Real Estate Services has arranged lease transactions at Forest Audelia Shopping Center, located at 9759 Forest Ln. in Dallas; Josey Rosemeade Shopping Center, located at 3720 N. Josey Ln. in Carrollton; and Galloway Crossing, located at 2110 N. Galloway Ave. in Mesquite. In Forest Audelia, Jump Off Spot signed a leased relocation/expansion of 2,123 square feet and Shark's Chicken & Fish signed a 1,850-square-foot lease renewal. Leigh Richter and Michael Tran of Bradford represented the landlord, Mwest Holdings LLC, in the Jump Off Spot lease, and Paul Richter of Bradford represented the landlord in the Shark's lease transaction. The lease transactions in Josey Rosemeade include Physiotherapy Associates renewing a 4,690-square-foot lease, a 1,404-square-foot lease for Sell Your Gold Shop and Edward D. Jones & Co. renewing a 1,120-square-foot lease. Leigh Richter represented the landlord, Mwest Holdings, in the Physiotherapy Associates transaction. Paul Richter and Tran represented the landlord in the Sell Your Gold transaction, and Leigh Richter and Tran represented the landlord in the Edward D. Jones & Co. transaction. The transactions in Galloway Crossing include Debonair Cleaners renewing a 2,697-square-foot lease, Super Smile Dental renewing a 1,244-square-foot lease and Metro PCS …
LAS VEGAS – A 48,172-square-foot retail center located at the southeast corner of Desert Inn Road and Pecos-McLeod Drive in Las Vegas has sold to Desert Inn-Pecos Plaza, LLC for $1,825,000. The center is anchored by a Family Dollar store, and is currently 45 percent leased. Nicholas Barber, Jason Brooks and Jeremy Foley of Gatski Commercial represented both the buyer and the seller, 3025 E. Desert Inn Holdings, LLC, in this transaction.
CORONA, CALIF. — TNT Plastics has signed a six-year lease at a 116,000-square-foot industrial building in Corona. The transaction’s total consideration is more than $2.4 million. The lease will commence in February 2012. It includes 13,000 square feet of office space. Cushman & Wakefield’s Rick Ellison and Randy Ellison represented the tenant. Chris Migliori of DAUM’s Orange County office represented thelandlord, ACIP, LLC, in this transaction.
SAN DIEGO — An 8,748-square-foot industrial propertyin San Diego has sold to Salma Jason Monica Limited Partnership for $1,335,000. The facility has recently undergone more than $500,000 in improvements. It will serve as a medical R&D facility for its new owner-user. Voit’s Todd Holley and Ellen Thomas represented the buyer. Randy LaChance and Jon Danton, also of Voit, represented the seller, Ole and Bente Sorensen.
CHARLOTTE, N.C. — A joint venture between Charlotte-based Ferncroft Capital and Dallas-based Crow Holdings has purchased the 102,000-square-foot Northlake Commons Shopping Center, located at 9310 Center Lake Dr. in Charlotte, for $22 million. Tenants include Chick-fil-A, Chili's, Olive Garden, On The Border, Red Robin, Panera Bread, AT&T, Sprint, Moe's Southwest Grill, Shane's Rib Shack, Men's Wearhouse and Fox and Hound. New South Properties has been retained to lease and manage the center.
ORMOND BEACH, FLA. — The 194-unit Coral Sands Resort, located at 1009 Ocean Shore Blvd. in Ormond Beach, has sold for $6.15 million. Charles Wayne of Daytona Beach, Fla.-based Charles Wayne Properties represented Ocean Shore Investments, the seller, in the transaction. The buyer was Island Club Associates.
ATLANTA — Cushman & Wakefield has negotiated the sale of the 387-room Renaissance Concourse Atlanta Airport Hotel, located at 1 Hartsfield Centre Pkwy. in Atlanta. Tom McConnell and Ernest Lee of Cushman & Wakefield Sonnenblick Goldman's New York office represented the seller, an institutional owner. The buyer was an investment group between Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management.
ORLANDO, FLA. — CBRE has arranged the $1.8 million sale of the 45,370-square-foot Washington Shores Plaza, located at 2100 Bruton Blvd. in Orlando. CBRE's Orlando office represented the seller, Berkadia, in the REO transaction. The buyer was CRP II – Washington Shores, an entity affiliated with Tampa, Fla.-based Community Reinvestment Partners II, a private equity fund sponsored by Forge Capital Partners and DeBartolo Development. The center is currently 39 percent leased, however, the purchaser secured a 22,500-square-foot lease with Save-A-Lot during the due diligence period.