ARLINGTON, TEXAS — NXT Capital has provided a $31.5 million first mortgage loan for the acquisition of a 246-unit, Class A multifamily community in Arlington. The property is located between the junction of State Highways 183 and 360 and the intersection of Interstates 30 and 820. Mark Brandenburg of JLL arranged the financing on behalf of the undisclosed borrower.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 38,282-square-foot industrial lease at 1624 W. Crosby Road in Carrollton. Ken Wesson and Adam Graham of Lee & Associates represented the landlord, EastGroup, in the lease negotiations. Nick Lee of NAI Robert Lynn represented the tenant, Transitions Group, a Kansas-based furniture and housewares supplier.
PLANO, TEXAS — Encore Commercial will develop a seven-story, 200,000-square-foot office tower at the Shops at Willow Bend as part of the shopping mall’s $125 million expansion. The Class A office property will be located adjacent to the food court and integrated into the Dillard’s parking deck. The building will accommodate up to 800 employees who will have access to the mall’s 60,000-square-foot restaurant district and 30,000-square-foot fitness club, which is currently under development.
DALLAS — Development partners Novare Group and Batson-Cook Development Co. have opened Victory Place, a 25-story multifamily property located within the 75-acre Victory Park development in downtown Dallas. Located at 1701 Payne St., the 352-unit property features amenities such as a 24-hour fitness center, a yoga and Pilates studio, a business center with a coffee bar and retail space anchored by Italian Bistro restaurant. Lincoln Property Co. will manage the complex.
SAN ANTONIO — San Antonio Commercial Advisors (SACA) has arranged the sale of Callaghan Road Shopping Center, an 11,369-square-foot retail asset situated on 1.1 acres near Callaghan Road and Loop 410 in San Antonio. Built in 1960, the center was 91 percent leased at the time of sale to tenants such as Zito’s Deli and Sandwich Shoppe, Lux Nails and Danny’s Cocina. Bradley Suttle of SACA represented the seller, a local family trust, in the transaction and procured the buyer, a Texas-based limited liability company.
HOUSTON — Marcus & Millichap has brokered the sale of A Discount Mini Storage, a 338-unit self-storage facility located at 3735 Mangum Road in Houston. Dave Knobler, Justin Miller, Derek Hargrove and Davis Hansen of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a Houston-based limited liability company.
IRVING, TEXAS — Sirius XM Connected Vehicle Services Inc. has signed two office leases, one of which is a renewal, at Freeport Corporate Center in Irving. The company now occupies 43,403 square feet of Class A space within the building, which is located at 8650 Freeport Parkway South near the Dallas-Fort Worth International Airport. Kevin Brookmole of Bradford Commercial represented the landlord, Slate Freeport Holdings LLC, in the lease negotiations. Kelly Winn of Savills Studley represented Sirius.
ALLEN, TEXAS — Hines will develop a 135-acre corporate campus and mixed-use development in the Dallas-Fort Worth metro of Allen, which will be branded as The Strand. Phase I of the project will deliver approximately 200,000 square feet of office space and 80,000 square feet of retail space. Later phases will complete the build-out with 1.5 million square feet of office space and 300,000 square feet of retail space. A timetable for project delivery and groundbreaking has not yet been established.
SPRING, TEXAS — A joint venture between Patrinely Group LLC, USAA Real Estate Co. and CDC Houston has received a construction loan for the development of CityPlace 2, a 327,000-square-foot, Class A office building that will be located in the Houston suburb of Spring. The property, which is slated for completion in 2018, will be part of CityPlace, a 60-acre, mixed-use development located at the intersection of Hardy Toll Road and Interstate 45. Wally Reid, Cortney Cole and Trent Agnew of HFF arranged the loan, the amount of which was not disclosed.
FORT WORTH, TEXAS — JLL has arranged the sale of 3700 Hulen St., a 45,118-square-foot, five-building office property situated on 2.6 acres near the intersection of Interstate 30 and Chisholm Trail Parkway in Fort Worth. Pat McDowell and Matt Montague of JLL represented the seller, Chemical Management Co. Inc. 3700 Hulen LLC purchased the property for an undisclosed price.