SPRING, TEXAS — EDGE Capital Markets has negotiated the sale of Spring Park Village, a 76,409-square-foot retail center located at 19764 Interstate 45 in the Houston metro of Spring. The center was 100 percent leased at the time of sale to tenants such as Conn’s Home Plus, Sears Outlet, Starbucks, AT&T and Texas State Optical. Kevin Holland of EDGE represented the seller, MetroNational, in the transaction. Other terms of sale were not released.
DALLAS — Henry S. Miller Brokerage Co. (HSM) has closed the sale of Tollway Towers East, a 20,354-square-foot office property located at 15441 Knoll Trail Drive in Dallas. Dan Spika of HSM represented the buyer, TDI GP LLC in the transaction. Ron Hebert of Marcus & Millichap represented the seller, CIP 2014/CP Tollway Owner LLC.
PLANO, TEXAS — A partnership between Patrinely Group and Rosewood Property Co. will develop One Heritage Creekside, a 343,800-square-foot office building within Heritage Creekside, a 72-acre master-planned community in Plano. The 12-story property will offer elevated terrace garden areas, ground-floor dining and shopping and an adjacent covered parking structure. Delivery is currently scheduled for the fourth quarter of 2019. JLL will handle the leasing of the property.
DALLAS — Vista Property Co. will redevelop Maplewood, a shopping center located at the corner of Maple Avenue and Inwood Road in Dallas. The development will be rebranded Maple Walk and feature open-air staircases, a glass-enclosed elevator and an open breezeway to the rear parking lot. The project will also allow ownership to create new patio and outdoor seating spaces. Construction is scheduled to begin in late November.
HOUSTON — HFF has arranged the sale of H6 Apartments, a 293-unit, Class A multifamily community located at 14805 Grisby Road in Houston’s Energy Corridor submarket. The property, which was more than 95 percent occupied at the time of sale, features one- and two-bedroom units averaging 827 square feet per unit. Amenities include a pool, fitness center and business center. Chris Curry and Todd Marix of HFF represented the seller, an affiliate of New York-based Abacus Capital Group LLC, in the transaction. GPI Real Estate Management Corp. purchased the asset contingent to existing debt.
ARLINGTON, TEXAS — Venture Commercial Real Estate has acquired Sublett Corners Shopping Center, an 87,900-square-foot retail center located at the corner of South Cooper Street and Sublett Road in Arlington. Shadow-anchored by Albertsons, the center was 93 percent leased at the time of sale to tenants such as Stein Mart, Dollar Tree, Supercuts, KFC and Jack in the Box. Venture Commercial was represented internally by Bo Brownlee and Easley Waggoner Jr. Bill Jordan of Marcus & Millichap represented the seller, Rip Griffin Truck Service Center Inc.
HOUSTON — Austin-based TREK Investment Group has brokered the sale of Breen Plaza, a 20,000-square-foot retail center in northwest Houston. Built in 2007, the property was 100 percent leased to 11 different tenants at the time of sale. Ethan Offenbecher of TREK represented the undisclosed seller in the transaction. The buyer and sales price were also withheld.
DALLAS — Marcus & Millichap has brokered the $92.8 million sale of nine multifamily properties totaling 1,798 units in Texas. Six of the properties accounting for 570 units are located in the Dallas-Fort Worth (DFW) metroplex. The sale also includes the disposition of the 70-unit Pinehurst Apartments in Longview, the 176-unit Crosswinds Apartments in Corpus Christi and a portfolio of properties located in Pasadena totaling 982 units. Nick Fluellen and Bard Hoover of Marcus & Millichap led the investment sales effort on each transaction. The names of the sellers and buyers for each asset were not disclosed.
FRISCO, TEXAS — MYCON General Contractors has completed construction of a 188,564-square-foot Walmart Supercenter store at 355 Stonebrook Parkway in Frisco. The big box property features surface parking and extensive landscaping. Raymond Harris & Associates provided architectural services for the project, construction of which began in July 2016. This is the 25th new construction project that MYCON has completed for Walmart in Texas since 2009.
IRVING, TEXAS — Bridge Investment Group LLC has purchased Tower 1320, a 243,109-square-foot, Class A office tower located within the 12,000-acre Las Colinas business district in Irving. Built in 1981, the 10-story tower features an adjacent two-story parking deck with 1,045 spaces. Evan Stone, Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Mary Claire Houseman of CBRE represented the seller, Arden Group, in the transaction. Peloton Commercial Real Estate will handle the marketing and leasing of the property.
