GRAND PRAIRIE, TEXAS — Dallas-based Westmount Realty Capital has sold Westmount at the Colonnade, a 192-unit multifamily community in Grand Prairie, roughly midway between Dallas and Fort Worth. Built in 2001, the Class A property features one-, two- and three-bedroom units ranging in size from 772 to 1,258 square feet. Amenities include a pool, media and business center and a fitness center. Westmount acquired the property in 2015 and implemented $1.4 million in capital improvements. The buyer was not disclosed.
Texas
ARLINGTON, TEXAS — JLL has negotiated the sale of a 63,124-square-foot retail property leased to Albertsons and located at 6620 Highway 287 Frontage Road in Arlington. The sale includes the 6.4 acres on which the single-tenant property is situated. Matthew Berres and Caroline Binning of JLL marketed the property on behalf of the undisclosed seller. The buyer was also undisclosed.
THE WOODLANDS, TEXAS — Med-Data Inc., a provider of technology-enabled healthcare services, has signed a 50,717-square-foot office lease at Havenwood Office Park in The Woodlands, about 30 miles north of Houston. The Class A property features a fitness center, conference room and an outdoor plaza. Lisa Hughes of The J. Beard Real Estate Co. represented the landlord, Havenwood Land Developments LP, in the lease negotiations. Kevin Saxe and Rupi Singh of CBRE represented Med-Data.
HOUSTON — HomeGoods Inc. will open a 20,000-square-foot store at Weslayan Plaza Shopping Center, a 354,000-square-foot retail property located on the west side of Houston. Culver Stedman of EDGE Realty Partners represented HomeGoods in the lease negotiations. The landlord, Regency Centers, a Florida-based REIT specializing in grocery-anchored shopping centers, was self-represented. A timeline for the store opening was not disclosed.
HOUSTON — Wood Partners, a multifamily development and investment firm with offices around the country, has broken ground on Alta Med Main, a 338-unit multifamily property that will be located within the Texas Medical Center in Houston. The community will include a structured parking garage and amenities such as a pool, fitness center, communal office space, dog park and a courtyard. Completion is slated for spring 2020.
COPPELL, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 37,069-square-foot office building located at 635 Fritz Drive in Coppell, a northwestern suburb of Dallas. Erik Blais and Richmond Collinsworth of Bradford Commercial represented the seller, International Association of Venue Managers Inc., in the transaction. Ben Appleby of Paladin Partners represented the buyer, Tanam LLC.
KATY, TEXAS — NAI Partners has secured a 21,750-square-foot industrial lease at 1430 Vanderwilt Lane in the western Houston suburb of Katy. The property was built in 2005. Shaffer Braun of NAI Partners represented the undisclosed landlord in the lease negotiations. The tenant was Florida Water Products, which serves swimming pool builders, retailers and service companies throughout Florida and Texas.
GEORGETOWN, TEXAS — Hanley Investment Group has completed the $1.9 million sale-leaseback of a 2,567-square-foot restaurant building leased to Bush’s Chicken in Georgetown, a suburb of Austin. Austin Blodgett and Eric Wohl of Hanley Investment Group represented the local seller in the deal. Sam Sheikh with Realty Austin represented the buyer, an Austin-based private investor. Both parties requested anonymity.
DALLAS — Lee & Associates has negotiated a 13,297-square-foot office lease at 750 N. St. Paul St. in Dallas. Nathan Denton of Lee & Associates represented the tenant, Mayer LLP, in the lease negotiations. Ben Davis, Jackie Marshall and Fletcher Cordell of CBRE represented the landlord, Quadrant.
DALLAS AND FORT WORTH, TEXAS — Austin-based multifamily investment firm NAPA Ventures LLC has sold four communities totaling approximately 700 units in the Dallas-Fort Worth (DFW) area. The properties include Brandon Mill and Westwood in Dallas, Oates Creek in the eastern Dallas suburb of Mesquite and Ravenwood in Fort Worth. NAPA acquired the assets in 2016 and implemented value-add programs to the communities’ unit interiors and amenity spaces. The buyers were not disclosed.