Texas

SHOP Cos. Facilitates Sale of Retail Center in Fort Worth

by Taylor Williams March 1, 2017

FORT WORTH, TEXAS — SHOP Cos. has negotiated the sale of Woodmont Plaza, an 84,521-square-foot retail site located at 6401-6451 McCart Ave. near the intersection of Altamesa Boulevard in southern Fort Worth. The property, which was 100 percent leased at the time of sale, currently houses tenants such as Big Lots, Advance Auto Parts, Pet Supplies Plus and Cricket Wireless. Tommy Tucker and Tim Axilrod of SHOP represented the seller, a Dallas-based limited liability company. The name of the buyer, a Texas-based limited partnership, was not disclosed.

March 1, 2017

Henry S. Miller Brokers Sale of Multifamily Complex in Dallas

by Taylor Williams March 1, 2017

DALLAS — Henry S. Miller Brokerage has arranged the sale of Villa Del Sol Apartments, a 255-unit multifamily property located at 7651 C.F. Hawn Freeway in southeast Dallas. Community amenities include a business center, playground, basketball court and laundry services. Villa Del Sol was roughly 97 percent occupied at the time of sale. Lane Kommer and Mark Porterfield of Henry S. Miller represented the seller, 511 Oakgrove LLC. Independent investor Brad Sumrok represented the buyer, Staples Multi Family.

March 1, 2017

Retail Texas

EDGE Capital Markets Arranges Sale of Retail Center in Houston

by Taylor Williams March 1, 2017

HOUSTON — EDGE Capital Markets has brokered the sale of Park 45, a 20,510-square-foot retail center located at 26436 Lexington Road in Spring, a northern suburb of Houston. The property, located less than a mile from Interstate 45at the intersection of Spring Cypress Road, was 83 percent leased at the time of sale. Josh Jacobs and Burdette Huffman of EDGE represented the seller, Houston Joint Properties Ltd. Reed Parker of Lee & Associates represented the undisclosed buyer.

March 1, 2017

Loans Office Texas

Hunt Mortgage Group Secures $5M in Financing for Office Park in Stafford, Texas

by Taylor Williams March 1, 2017

STAFFORD, TEXAS — Commercial lender Hunt Mortgage Group has secured a $5 million first mortgage bridge loan for Park Place Business Park, an office property located at 11104 W. Airport Blvd. in Stafford, a city on the outskirts of Houston. The financing, originated by Texas-based lender Q10 Kinghorn, Driver, Hough & Co., is structured as a 24-month floating rate loan with three one-year extension options. The borrower, Stafford Office Park II LP, originally acquired the 92,864-square-foot, Class B office property in 2005.

March 1, 2017

Retail Texas

Plano-Based JCPenney to Close Up to 140 Stores, Two Distribution Centers

by Taylor Williams February 28, 2017

PLANO, TEXAS — Retail giant J.C. Penney Co. Inc. has announced plans to close 130 to 140 stores, as well as a distribution center in Lakeland, Fla., over the next several months. The company is also in the process of selling its supply chain facility in Buena Park, Calif. The total store closures represent between 13 and 14 percent of the company’s current store portfolio. A list of locations to be shut down will be released in mid-March.

February 28, 2017

Multifamily Texas

Capital One Closes $27.5M Loan for Multifamily Property in Sugar Land

by Taylor Williams February 28, 2017

SUGAR LAND, TEXAS — Capital One has secured a $27.5 million Fannie Mae adjustable-rate loan to refinance The Retreat at Riverstone, a multifamily complex in Sugar Land, roughly 20 miles southwest of Houston. The property, a 249-unit, master-planned community located at 18545 University Blvd, features a resort-style pool with cabanas, fitness center and a resident lounge with a cyber café. Clay Wright of Capital One’s Commercial Real Estate Group originated the 10-year loan, which has a 30-year amortization schedule and one year of interest-only payments.

February 28, 2017

Office Texas

Marcus & Millichap Arranges Sale of 77,449 SF Office Building in Metro Dallas

by Taylor Williams February 28, 2017

RICHARDSON, TEXAS — Marcus & Millichap has brokered the sale of Two Mission Park, a 77,449-square-foot property, Class B office space in Richardson, a northern suburb of Dallas. Located at 1202 Richardson Drive near Central Expressway, the four-story building, built in 1980, was 63 percent occupied at the time of sale. Ron Hebert of Marcus & Millichap represented the seller and procured the buyer. Both parties requested anonymity.

February 28, 2017

Industrial Texas

Lee & Associates Negotiates Industrial Lease Renewal in Irving

by Taylor Williams February 28, 2017

IRVING, TEXAS — Lee & Associates has completed a lease renewal transaction for a 335,480-square-foot industrial space at 9400 N. Royal Lane in Irving, a city within the Dallas-Fort Worth metroplex. Tom Walrich of Lee & Associates represented the tenant, KGP Telecommunications Inc., a Minnesota-based distributor of telecommunications equipment and solutions. Mitchell Pruitt of Prologis represented the landlord internally in the lease deal.

February 28, 2017

Office Texas

Colliers Arranges Office Lease for Tech Company in Downtown Dallas

by Taylor Williams February 28, 2017

DALLAS — Colliers International Group Inc. has arranged a new 17,000-square-foot lease at 717 Harwood, a 34-story office building in downtown Dallas. The tenant, Quorum Business Solutions, a Texas-based technological consulting company, will use the space as its new corporate headquarters. David Quisenberry, John Conger and Lindsey Wolcott of Colliers represented the property owner, World Class Capital Group. Kyle Kelley and Frank McCafferty of Savills Studley represented Quorum Business Solutions in the deal

February 28, 2017

Multifamily Texas

Dougherty Mortgage Secures $11.7M Loan for Multifamily Property in Dallas

by Taylor Williams February 27, 2017

DALLAS — Dougherty Mortgage LLC, a Minneapolis-based lender, has secured $11.7 million in Fannie Mae acquisition financing for the Estara Apartments, a 216-unit multifamily complex located at 11321 Woodmeadow Parkway in east Dallas. The seven-year loan, which has a 30-year amortization schedule, was arranged for borrower Ascendant RE 1 LLC through a partnership with Old Capital Lending and Dougherty’s Minneapolis and Vienna, Va. offices.

February 27, 2017

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