GARLAND, TEXAS — Marcus & Millichap has negotiated the sale of a 54,000-square-foot industrial property at 3605 Security St., near the intersection of South Jupiter and West Miller roads in Garland, a northeastern suburb of Dallas. The property, leased to Andreola Terrazzo & Restoration, a stone restoration company, underwent roughly $450,000 of renovations in 2015. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer, both of whom are private investors.
NAVASOTA, TEXAS — An entity related to Finial Group has sold 12.6 acres of land zoned for retail on Highway 6 near Highway 105 in Navasota, a city located roughly halfway between Houston and College Station. The Finial Group-related partnership originally purchased the site in February 2016.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an affiliate of Cushman & Wakefield, has facilitated the sale of Shavano Square, a 25,182-square-foot retail property situated on 2.3 acres at 411-4477 De Zavala Road in San Antonio. Located near Clark High School and Shavano Park on the city’s outskirts, the center was 91 percent occupied at the time of sale to tenants such as Sol y Luna Bakery, Nationwide Insurance and Saldivar Martial Arts. SACA’s Bradley Suttle and Brent Smith represented the seller, CWI Holdings LLC, and secured the buyer, an undisclosed company based in Texas.
PLANO, TEXAS — NewGate Development plans to open CityCentral, a coworking and executive office space in Plano, a northern suburb of Dallas. Located on Spring Creek Parkway west of the Dallas North Tollway, CityCentral totals 36,000 square feet of workspace, including a 12,000-square-foot creative collaboration center. The property is scheduled to open March 1.
LAKEWAY, TEXAS — Stratus Properties Inc. has completed the sale of The Oaks at Lakeway, an HEB Grocery Company L.P.-anchored, 236,739-square-foot retail development located in Lakeway, a city in the Lake Travis community of metro Austin. The buyer, FHF I Oaks at Lakeway LLC, purchased the property for a cash price of $114 million. At the time of sale, Stratus owned 100 percent of the property, which it acquired and developed between May 2013 and September 2014. The sale excludes 34.7 acres of tracts within the development that have been zoned for residential, hotel and civic uses.
HOUSTON — Commercial lender Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) has arranged a $5 million Small Balance Freddie Mac loan on a multifamily complex in West Houston that encompasses 122 units across 10 buildings. With a fixed interest rate of 4.4 percent, the 10-year loan will finance continued improvements to both the interiors and exteriors of the units. Community amenities include a leasing office/clubhouse, gated entry, on-site laundry facilities, pool, playground and a community grilling area. Q10 KDH Vice President Ryan Watson arranged the loan.
KATY, TEXAS — TMEIC Power Electronics Products Corp., a Tokyo-based partnership between Toshiba and Mitsubishi, has broken ground on a 45,000-square-foot industrial facility in Katy, a western suburb of Houston. Lone Star Construction is the general contractor for the facility, which is expected to open later this year. Roughly $6 million in capital expenditures has been earmarked for the project. Located off Grand Parkway in Energy Park West Business Park, the property will serve as a center of assembly, testing and packaging of photovoltaic inverters for the solar power market.
LEWISVILLE, TEXAS — Bright Realty has facilitated a lease for a new craft brewery in the Castle Hills Village Shops, located at 2560 King Arthur Blvd in Lewisville, a suburb about 25 miles northwest of downtown Dallas. TKO Libations, which anticipates opening this location in the summer, will sell both its own and its competitors’ beverages out of the 2,810-square-foot space while also offering numerous TVs and a variety of games. Jack Allen of Wellington Realty represented the tenant in the deal.
FLOWER MOUND, TEXAS — Yeager Properties has been approved by The Town of Flower Mound to bring new office suites to the town, which is situated on the outskirts of Dallas. The designated location at 3611 Cross Timbers Road will feature roughly 40,000 square feet of office space capable of accommodating as many as 400 people. An additional plot of 8,665 square feet has been reserved as add-on space for two unnamed restaurants. Yeager, which already has a presence in Plano, Frisco and Allen, plans to deliver the new office space this November
FORT WORTH, TEXAS — Peloton Land Solutions, a Fort Worth-based consulting and engineering firm, has moved its corporate headquarters to Alliance Town Center, Hillwood Commons I in Fort Worth. The company has leased more than 11,000 square feet of the Class A office complex, located within the city’s 900-acre, mixed-use business community, AllianceTexas. Peloton has also appointed Travis Clegg as its new business development manager.
