DALLAS — Marcus & Millichap has brokered the sale of Sienna Creek, a 152-unit apartment complex located at 11601 Audelia Road near Interstate 635 in Dallas. Al Silva of Marcus & Millichap represented the seller, Madera Residential, and procured the buyer, a Dallas-based partnership. The new owner plans to rebrand and make capital investments to the property, which was built in 1980
FORT WORTH, TEXAS — Wilson & Stonaker LLLC, a Texas-based investment firm, has acquired Northbrook Business Center, a four-building 334,082-square-foot industrial business park located at 1001 NE Loop 820 in Fort Worth. Jeff Givens and Sarah LanCarte of Transwestern represented the seller, Fort Worth Northbrook Ltd., which sold the asset for an undisclosed price. The property was 85 percent occupied at the time of sale.
HUNTSVILLE, TEXAS — Stonemont Financial Group, an Atlanta-based investment firm, is developing The Armory at Sam Houston, a 502-bed student housing community located adjacent to Sam Houston State University in Huntsville. The property, which will feature a rooftop deck, resort-style pool and a seven-story parking garage, is scheduled to open in fall 2018. Temple, Texas-based MW Builders is serving as general contractor on the project. Denver-based Cardinal Management Group will handle leasing and management of the property.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Parc 410, a 344-unit apartment community in San Antonio. Located at 5827 NW Loop 410, the property features two pools, an on-site laundry facility and a business center. Will Balthrope and Jordan Featherston of Marcus & Millichap represented the seller and procured the buyer in the transaction.
MANSFIELD, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has brokered the sale of nearly 41 acres of land slated for industrial development at U.S. Highway 287 and Commerce Drive in Mansfield. All Storage purchased 5.3 acres from LEJJ Realty LLC for the development of two climate-controlled self-storage facilities totaling 216,723 square feet. Premier Funding Group sold the adjacent 35.5-acre tract, which will be used for the development of an unbranded business park. Sales prices were not disclosed.
DALLAS — Lee & Associates has negotiated a 69,047-square-foot industrial lease at 11025-11035 Switzer Ave. in Dallas. Brett Lewis, Ken Wesson and George Tanghongs of Lee & Associates represented the landlord, Colony Northstar, in the lease negotiations. The name and representative of the tenant were not disclosed.
DALLAS — Churchill Capital Co. has arranged a $42.8 million loan for the refinancing of Browning Place at Mercer Crossing, a three-building, 442,639-square-foot office property in Dallas. Located at 1603, 1605 and 1607 LBJ Freeway, the property includes two interconnected eight-story towers, a two-story annex building and a four-story parking deck. Duke Stone and Steve Forson of Churchill arranged the non-recourse, fixed-rate loan through JPMorgan Chase on behalf of the borrower, Transcontinental Realty Investors Inc.
FRISCO, TEXAS — A joint venture between Dallas Cowboys owner Jerry Jones, former Cowboys quarterback Roger Staubach and Dallas developer Robert Shaw has announced plans for a 17-story apartment complex within The Star in Frisco. The property will feature 160 units with an average size of 1,200 square feet per unit. Construction is scheduled to begin in January 2018, with move-ins scheduled for the first quarter of 2019. Columbus Realty will develop the project.
PLANO, TEXAS — SRS Investment Properties Group has brokered the $24.5 million sale of Creekwalk Village, a 174,484-square-foot shopping center in Plano. Chris Tramontano and John Redfield of SRS represented both the undisclosed seller and the buyer, a private investor based on the East Coast, in the transaction. The center is currently leased to tenants such as Bed Bath & Beyond, Old Navy and Barnes & Noble.
LEWISVILLE, TEXAS — Illinois-based ML Realty Partners will develop a 121,000-square-foot industrial facility in Lewisville. Branded 121 Riverview Crossing, the property will be situated along Business Highway 121 near both Legacy West in Plano and the $5 Billion Mile in Frisco. The facility will be available for lease in spring 2018. Henry S. Miller will handle leasing activity.
