AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of three retail properties totaling 143,963 square feet in Austin. The single-tenant properties span a total of 21.3 acres and are leased to JC Penney, Frost Bank and Gold’s Gym. Vincent Knipp and Ryan Wolf of Marcus & Millichap represented the seller, a private developer, in the transaction. Bill Rose, also of Marcus & Millichap, procured the buyer, a private investor. Both parties requested anonymity.
GRAND PRAIRIE, TEXAS — A partnership between California-based CT Realty and Texas-based Port Logistics Realty has broken ground on Oakdale Logistics Center, a 401,577-square-foot industrial facility in Grand Prairie. The Class A warehousing and distribution facility will feature a cross-dock configuration, 175 dock-high doors, 32-foot clear heights and 185-foot truck court depths. Completion of the project, which marks the third collaboration between the two firms in the Dallas-Fort Worth (DFW) metroplex, is slated for the first quarter of 2019.
PLANO, TEXAS — JLL Income Property Trust has acquired Villas at Legacy, a 328-unit multifamily community in Plano. The property is located within Legacy Business Park, a 2,665-acre master-planned community. Amenities include a pool, fitness center, business center, picnic areas and a coffee bar. This transaction, the seller in which was not disclosed, raises the size of the trust’s multifamily portfolio to more than 2,500 units.
AUSTIN, TEXAS — Taiwanese bakery 85°C Bakery Café has signed leases to open two new stores in Austin, one in the Highland area on the city’s north side and one on Lakeline Boulevard on the city’s northwest side. John Nguyen of NewQuest Properties represented the bakery in its lease negotiations. Bryan McMurrey of CBRE represented the landlord in the lease for the Highland location, which will have a soft open on June 25.
CARROLLTON, TEXAS — Carter Validus Mission Critical REIT II Inc., a Tampa-based healthcare investment corporation, has purchased Carrollton Healthcare Facility in metro Dallas. The sale price was approximately $8.5 million. The property totals 21,990 square feet and is 100 percent leased to two tenants: family medicine practice USMD PPM LLC and dermatology practice PDP of Texas PLLC.
HOUSTON — Chicago-based NXT Capital has provided a $10 million loan for the refinancing of a 133-unit apartment community in Houston. The Class A property is located near the Westchase and Galleria areas and offers amenities such as a pool, resident lounge and a fitness center. Additional terms of the transaction, the borrower and the property name were not disclosed.
FORT WORTH, TEXAS — Swedish furniture giant IKEA has nixed its plans to build a 289,000-square-foot store in Fort Worth, according to an emailed statement sent to the Dallas Business Journal. The store was slated to be part of a 478,000-square-foot development. Construction was scheduled to begin this year with the store targeting summer 2019 for opening. According to the statement and industry sources, the abandoning of the project stems from a changing retail landscape, not an issue with financing or incentives from the city.
HOUSTON — Friedman Real Estate, a full-service real estate firm that manages more than 140 commercial properties across the country, has opened a new office at 333 Cypress Run in Houston. The location will be the company’s seventh regional office and first in Texas. Mark Zeidman, vice president of brokerage services, will oversee the new office.
HOUSTON — NewQuest Properties has brokered the sale of a 4,100-square-foot office building located in the River Oaks/Montrose area of Houston. The property will serve as the new headquarters for oil and gas firm Pioneer Exploration LLC. Austen Baldridge and Brad Elmore of NewQuest represented the buyer of record, State Venture LLC, in the transaction. Mark Nicholas and Cliff West of JLL represented the seller, Canret LLC.
WICHITA FALLS, TEXAS — Bellomy & Co. has arranged the sale of Hot Shots Storage, a 198-unit self-storage facility in the North Texas city of Wichita Falls. The facility spans 21,950 square feet of net rentable space. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Dallas-based buyer in the transaction. Chris Storm of Henry S. Miller (HSM) represented the undisclosed seller.
