SAN ANTONIO — Marcus & Millichap has brokered the sale of Andrews Apartments, an 11-unit complex located at 219 Andrews St in San Antonio. The property recently underwent renovations to improve its roofing, flooring and windows. Mark Diebold of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The name and representative of the buyer were not disclosed.
IRVING, TEXAS — Younger Partners has negotiated a 5,960-square-foot lease renewal at 122 West, a six-story, Class A office property in the Dallas-Fort Worth metro of Irving. Daniel Rudd and Billy Vahrenkamp of Colliers represented the tenant, SEI Incentives Ltd., a Texas-based firm that provides customized business meetings and employee rewards programs. Sean Dalton and Kathy Permenter of Younger Partners represented the landlord in the transaction.
DALLAS — Westdale Properties and KDC Construction have broken ground on The Epic, a mixed-use development situated on eight acres at the corner of Pacific Street and Good Latimer Expressway in the Dallas neighborhood of Deep Ellum. The project will consist of a 250,000-square-foot office tower with a fitness center, rooftop café and ground-level retail space, as well as a 164-room hotel and a 300-unit, 20-story residential tower. The Epic, which will be built next to the Dallas Area Rapid Transit Deep Ellum Station, is scheduled for completion in late 2019.
BROWNSVILLE, TEXAS — Marcus & Millichap has closed the sale of Sunrise Plaza, a 35,972-square-foot shopping center situated on 2.9 acres at 2451 Pablo Kisel Blvd. in the south Texas border town of Brownsville. At the time of sale, the property was 100 percent occupied by triple net leased tenants such as Mattress Firm, Nutrishop and Shenanigan’s Irish Pub. Philip Levy of Marcus & Millichap marketed the property on behalf the seller, an unspecified developer.
DALLAS — The Silver Group has arranged the sale of a single-tenant property occupied by LA Fitness, located at 13130 Preston Road, in Dallas. The 43,000-square-foot fitness center sits on 5.25 acres of land at Preston Road and the LBJ Freeway and is situated across the street from the old Valley View Mall, which is being transformed into a mixed-use development. The seller was an unnamed real estate investment trust, and the buyer was a Texas-based partnership formed to acquire the property. The Silver Group was the only broker involved with the sale.
PLANO, TEXAS — Citadel Partners LLC, a Dallas-based real estate consulting firm, has negotiated an 82,800-square-foot lease renewal at a flex facility located at 3501 E. Plano Parkway. Scott Jessen, Andy Goldston and Mac Morse of Citadel Partners represented the tenant, UNICOM Engineering, in the transaction. Brett Lewis and George Tanghongs of Lee & Associates represented the unspecified landlord.
THE COLONY, TEXAS — EDGE Realty Capital Markets has brokered the sale of Service King The Colony, a 22,461-square-foot retail property located at the corner of Paige Road and Sam Rayburn Tollway in The Colony, a northern suburb of Dallas. Brandon Beeson and Stroud Arthur of EDGE represented the seller, SK 5270 Memorial LP, a Texas-based firm. The sale price and the representative of the buyer, National Retail Properties LP, were not disclosed.
LAS COLINAS, SAN ANTONIO AND HOUSTON — Hunt Mortgage Group has arranged three Fannie Mae loans totaling $62.6 million for multifamily properties in Houston, Las Colinas and San Antonio on behalf of Ilan Investments LLC, a Houston-based investment manager. Acquisition financing was secured for Portofino at Las Colinas, a 224-unit complex located at 11601 Lago Vista West in Farmers Branch, and for Vineyard Springs Apartments, a 364-unit property located at 18200 Blanco Springs Road in San Antonio. Additionally, refinancing funds were secured for Thorntree Apartments, a 224-unit complex located at 13502 N. Thorntree Drive in Houston.
FORT WORTH, TEXAS — Adolfson & Peterson Construction has completed Cowtown Place Garage, a 312,500-square-foot, nine-story parking deck with 26,000 square feet of retail space on the ground level. Located next to Sundance Square in downtown Fort Worth, the structure houses 850 parking spaces. Woodbranch Investments served as general contractor on the project.
TOMBALL, TEXAS — Love Funding has arranged a $2.6 million FHA loan to cover the bridge financing for the acquisition of Forever Young Senior Living, an assisted living and memory care facility in Tomball, a northwestern suburb of Houston. Located at 609 S. Pine St., the facility offers a choice of 16 private suites, personal laundry services, private party room and professional hair salon. The loan features a 35-year term with non-recourse financing.
