PLANO, TEXAS — Vitorino Group, a Dallas-based real estate investments firm, has closed the sale of a 1.2-acre gas station ground leased to Murphy Oil USA in the Dallas suburb of Plano. Vitorino Group represented the seller, a Texas-based private investor, and procured the buyer, a Colorado-based private investor.
HOUSTON — Marcus & Millichap has arranged the sale of Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an undisclosed private investor, and procured the buyer, an unspecified partnership.
AUSTIN, TEXAS — Oden Hughes LLC of Austin and co-developer CWS Capital of Newport Beach, Calif. have broken ground on a 226-unit, Class A apartment community near downtown Austin. Located at 1301 W. Fifth St., the six-story building will offer one-, two- and three-bedroom units and feature approximately 2,200 square feet of ground-level retail space. The project is slated for a late 2018 delivery.
BOERNE, TEXAS — Weitzman, a Dallas-based property management firm, has begun pre-leasing Johns Crossing, a 30,000-square-foot retail development in Boerne, a northwestern suburb of San Antonio. Situated at the corner of IH-10 and Johns Road, the property will feature approximately 14,500 square feet of multitenant space, with the remainder slated for freestanding concepts on pads along the I-10 corridor.
FORT WORTH, TEXAS — Compass Self Storage, a division of Ohio-based development and construction firm Amsdell Co., has acquired a self-storage facility located at 4209 Alliance Gateway Road in Fort Worth. The center features more than 49,000 square feet of rentable space, climate-controlled units and covered RV/boat storage spaces. The acquisition gives Amsdell Co. 77 self-storage centers nationwide.
ROUND ROCK — Equity Inc., an Ohio-based developer and broker, has opened Physicians Centre, a 21,000-square-foot, two-story medical office building located at 505 W. Louis Henna Blvd. in the Austin suburb of Round Rock. Austin-based general contractor The Burt Group oversaw construction of the building, and American Bank N.A. provided the financing. Tenants include Capital Surgeons Group, Snyder Dermatology and Parkway Primary Care.
GRAND PRAIRIE, TEXAS — Moran & Co. Southwest has arranged the sale of Three60 North Apartments, a 348-unit complex located at 1450 N. State Highway 360 Service Road in the Dallas suburb of Grand Prairie. Moran & Co. represented the seller, The Kislak Organization, a Florida-based real estate investment firm, in the transaction. The name and representative of the buyer were not disclosed.
DALLAS — Hunt Mortgage Group has arranged a $21.5 million first mortgage bridge loan on behalf of Iliad Realty Group for the acquisition and renovation of two multifamily properties in Dallas. The first property, North Park Terrace, is a 309-unit, garden-style complex located at 8662 Park Lane. The second property, Pecan Tree Apartments, is 174-unit, garden-style complex located at 3001 Kendale Drive. At the time of sale, the assets were 76 percent and 95 percent occupied, respectively.
HOUSTON — The Houston Housing Authority (HHA), a provider of homes for low-income Houstonians, will break ground on a 154-unit multifamily property located at 302 Crosstimbers St. on Monday, March 20. The project for mixed-income residents represents HHA’s first multifamily development in the Independence Heights neighborhood, located slightly northwest of downtown, in more than a decade.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Clear Sky Retail Center, a 9,717-square-foot property located at 1805 S. Padre Island Drive in Corpus Christi. Built in 2003, the center is situated on nearly one acre and was 100 percent occupied at the time of sale to tenants such as GameStop, Ace Cash Express and Sally Beauty Supply. Philip Levy of Marcus & Millichap represented the seller, an unspecified developer, and procured the buyer, a private investor.