AUSTIN, TEXAS — St. Clair Commercial Realty (SCCR) has purchased seven industrial buildings totaling 211,000 square feet on Techni Center Drive in Austin. While all buildings are located on separate parcels and vary in size from 3,600 to 36,000 square feet, the firm intends to collectively rebrand them as the “Techni Center Business Park.” Ryan Wilson and Matt Fain of Equitable Commercial Realty procured the sale for SCCR and have been retained to handle leasing as well.
ARLINGTON, TEXAS — American Motorcycle Trading Co., a supplier of pre-owned motorcycles, has acquired the former Star-Telegram Plaza, a two-story, 37,800-square-foot building at 3201 Airport Freeway in Arlington. At the time of sale, the property, which includes both office and retail space, had been vacant for a full year. Renee Efimoff represented the buyer of record, B&B Family Partnership, while Greg Hoffman of Colliers International represented the seller, Aberfeldy Properties Inc., a Delaware-based corporation.
TEMPLE, TEXAS — JLL Capital Markets has completed the sale of the Brentwood Apartments, a 128-unit, garden-style multifamily complex located at 3000 W. Adams Ave. in Temple, to RDO Properties LLC. Featuring a swimming pool, clothing care center and covered parking space, the complex is situated on 12.8 acres that were included in the purchase. JLL’s Scott LaMontagne, Moses Siller and Zar Haro represented the seller, the Estate of Leonard Apt, in the transaction. Proceeds from the sale will be donated to the Jules Stein Eye Institute at UCLA’s Department of Pediatric Ophthalmology.
NEW BRAUNFELS, TEXAS — The Silver Group has arranged the sale of a 2.1-acre parcel featuring a 12,000-square-foot facility at 244 Creekside Crossing in New Braunfels, a northern suburb of San Antonio. Christus Santa Rosa Healthcare most recently leased the property, which shares the intersection of Interstate 35 and FM 306 with the Town Center at Creekside and Resolute Hospital. The Silver Group represented both the buyer and the seller, whose names were not disclosed.
AMARILLO, CLEBURNE, CONROE, CYPRESS AND FORT WORTH, TEXAS — KeyBank Real Estate Capital originated and fully underwrote a $62 million term loan for Caddis, which used the proceeds of the loan to recapitalize a five-property seniors housing portfolio in Texas. The newly built assisted living and memory care facilities total 352 units and 406 beds. Operated under the Heartis brand, the properties include Heartis Amarillo in Amarillo, Heartis Cleburne in Cleburne, Heartis Conroe in Conroe, Heartis Cypress in Cypress and Heartis Eagle Mountain in Fort Worth. Grant Saunders and Jay Jordan of KeyBank’s Healthcare Group arranged the financing.
PLANO, TEXAS — Marcus & Millichap has brokered the sale of an office building located at 2000 N. Central Expressway in Plano. A limited liability company sold the 29,216-square-foot building for an undisclosed price. The property was fully leased at the time of sale. Ron Hebert of Marcus & Millichap represented the seller, while Hebert and Zachary Ryan, also of Marcus & Millichap, procured the buyer, a California-based individual/personal trust.
HOUSTON — HFF has arranged financing for The Plaza at Enclave, an office building located at 1254 Enclave Parkway in Houston. Wally Reid, Matt Kafka and Dustin Selzer of HFF secured the 15-year, fixed-rate loan through Allianz Real Estate of America for the borrower, a foreign investor. The six-story, 344,296-square-foot property features a health club and fitness center, café with indoor and outdoor seating, courtyard and an entrance plaza with a multi-level fountain system. Anchored by DOW Chemical, the property was 98 percent leased at the close of financing.
TEMPLE, TEXAS — The Silver Group has arranged the sale of a single-tenant retail property located at 1519 W. Central Ave. in Temple. An undisclosed individual acquired the 14,820-square-foot, freestanding building for an undisclosed price. Walgreens signed a 20-year, absolute net lease for the property, but chose to sub-lease the property to a multi-unit emergency care operator. The Silver Group represented the undisclosed seller in the deal.
MCKINNEY, TEXAS — EDGE Realty Capital Markets has arranged the sale of a mixed-use property located at 7508 Eldorado Parkway in McKinney. Iselworth Management Inc. sold the 8,815-square-foot property to Guidepost A LLC, a Delaware-based limited liability company, for an undisclosed price. Wilson Stafford and Brandon Crow of EDGE Realty Capital Markets represented the seller, while Stephen Coffey of Greyhawk Associates represented the buyer in the deal.
HOUSTON — Parkway Properties (NYSE: PKY), a Houston-based REIT, has agreed to sell 49 percent interest in Greenway Plaza and Phoenix Tower, two Class A office properties in the Greenway submarket of Houston, for $512.1 million. Ownership of the two properties will now be a joint venture between Parkway, TH Real Estate, Silverpeak Real Estate Partners and Canada Pension Plan Investment Board. Parkway will retain a 51 percent majority interest in the portfolio, with TH Real Estate and Silverpeak sharing a 24.5 percent interest, and Canada Pension Plan Investment Board owning the remaining 24.5 percent. Greenway Plaza is a 52-acre, master-planned, mixed-use development featuring 11 buildings totaling approximately 4.9 million square feet of office space as its focal point. On-site amenities include a full-service restaurant, an underground food court with 16 restaurants, multiple fitness facilities, three full-service banking centers and conference facilities. Although Phoenix Tower is technically a separate property, it’s located immediately adjacent to Greenway Plaza. The 34-story building totals 665,332 square feet and was built in 1984. Amenities include an on-site deli and a Jack Nicklaus-designed, nine-hole putting green. “This transaction helps to mitigate risk in a single office campus that represents 57 percent of our company’s overall …
