RICHARDSON, TEXAS — Balfour Beatty Campus Solutions, along with Dallas-based Wynne/Jackson and lead equity partner Star Alliance, has closed on the financing for the second phase of a mixed-use project for the University of Texas at Dallas in Richardson. The development team will expand on the Northside Phase 1 development by delivering 275 housing units and more than 6,600 square feet of retail space valued at $67 million as part of a public-private partnership. Situated on 12 acres, the second phase will include mid-rise apartments and townhomes totaling 900 beds, as well as shops, restaurants and entertainment venues to serve the 27,000 students, faculty, staff and young professionals of the university and greater Richardson area. Additionally, the new development will have a fitness facility, a resort-style pool, patio areas and spaces for small gatherings. Andres Construction will lead the overall design/build team, with Architecture Demarest as the lead design firm. Construction is underway, with completion slated for August 2018.
OAK HILL, TEXAS — Petco has leased 13,108 square feet of retail space at Center of the Hills, a community retail center located at 7010 W. State Highway 71 in Oak Hill, a western suburb of Austin. H-E-B, Tuesday Morning, Firestone, Mattress Firm, Advance Auto Parts and Cricket Wireless are tenants at the retail property. Nash Frisbie and Britt Morrison of Weitzman represented the undisclosed landlord, while Roger Anderson of CBRE represented the tenant in the deal.
UPLAND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $17.2 million sale of Upland Village, a 60,857-square-foot shopping center located in Upland. Grocery Outlet and Dollar Tree anchor the fully occupied shopping center. Ed Hanley and Bill Asher of Hanley Investment Group, and Joe Miller of Voit Real Estate Services represented the seller, Outpost Village LLC. Peter Loh and Paul Yang of RE/MAX represented the buyer, a Southern California-based private investor.
LAS VEGAS — Agora Realty and Management has acquired a 100,856-square-foot, Smart & Final-anchored shopping center located in Las Vegas for $10.3 million. Tenants at the 71 percent occupied center include Carl’s Jr., Little Caesars Pizza and Cricket Wireless. The seller in the transaction was undisclosed. The firm plans to renovate the façade of the center, and is currently under contract with Metro PCS to occupy 1,229 square feet of space.
FORT WORTH, PLANO AND HILLSBORO, TEXAS — John T. Evans Co. has arranged three land sales in Texas for the development of retail properties. In the first deal, SCSD-Finnell Ltd. acquired a 1.1-acre land parcel at the southwest corner of Heritage Trace Parkway and North Beach Street in Fort Worth. Hillwood Alliance Residential sold the property for an undisclosed price. The buyer plans to construct a retail center on the property. Jim Jamerson of John T. Evans Co. represented the buyer, while Edward Bogel and David Davidson of Davidson Bogel Real Estate represented Hillwood Alliance Residential. In the second land sale, SCSD-Finnell purchased 0.9 acres of land at 1224 N. Central Expressway in Plano for the development of a Schlotzsky’s Deli. Jamerson represented the buyer in the deal. The name of the seller and acquisition price were not released. In the third transaction, Tang Lu acquired 27,677 square feet of land with an existing building at 1400 Interstate 35 S.W. in Hillsboro. The buyer plans to redevelop the building into a fast food restaurant. Zach Berman of John T. Evans Co. represented the undisclosed seller in the deal. The acquisition price was not released.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of a multi-tenant office and retail property located at 1251 W. Green Oaks Blvd. in Arlington. A developer sold the 6,186-square-foot property to an undisclosed buyer. At the time of sale, the property was fully leased to a mix of tenants including Alamo Title, Farmers Insurance and Edward Jones Investments. Blake Burnett of Marcus & Millichap represented the seller in the deal, while Chris Parker of Mark One Capital arranged financing for the acquisition. The acquisition price was not released.
ARLINGTON, TEXAS — KW Commercial has brokered the sale of an office and retail property located at 1215 W. Randol Mill in Arlington. Acupuncture & Allergy Center sold the 1,512-square-foot property for an undisclosed price. David Tuttle of KW Commercial represented the seller and procured the undisclosed buyer in the deal.
BANNING, CALIF. — Marinita Development Co. has broken ground on Phase II of Sun Lakes Village Shopping Center, a 95,000-square-foot shopping center located in Banning. Phase II of development will include an 8,000-square-foot building leased to Chipotle Mexican Grill, Mattress Firm and T-Mobile. Completion is scheduled for August.
CHICAGO — Stan Johnson Co. has negotiated the sale of 400 S. Financial Place, a retail center in Chicago’s Loop, for $7.9 million. The property is one of only two one-story retail assets along West Van Buren Street in Chicago’s CBD. Brandon Duff, Brad Feller, Tom Fritz and Josh Pardue of Stan Johnson marketed the property on behalf of the seller, a local Chicago-based private investor group. The buyer, a partnership between North American Real Estate and Belgravia Group, purchased the property as part of a 1031 exchange.
OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has brokered the sale of 1.65 acres of land located at Metcalf 75 Shopping Center in Overland Park. The land was purchased by an undisclosed buyer and will be used to build a 16,870-square-foot medical facility. Metcalf 75 Shopping Center will be torn down to make way for the new medical facility. David M. Block and Darren Siegel brokered the transaction on behalf of the property owners. Cary Fox and Bill Shakelford of AREA Real Estate Advisors represented the buyer. Darren Siegel, David M. Block and Steve Caffey of Block & Co. also handled lease negotiations between the new buyer and the existing tenants to vacate the property. Block & Co. has been the leasing and property management company for Metcalf 75 Shopping Center since the 1970s.