Texas

Greysteel Arranges Sale of 30-Unit Multifamily Property in Irving

by Amy Works January 11, 2017

IRVING, TEXAS — Greysteel has brokered the sale of Radford Place Townhomes, a multifamily property located at 3922 Evergreen St. in Irving. Texas 05 Partners LLC sold the property to Radford PT LLC for an undisclosed sum. Built in 1986, the property features 30 two- and three-bedroom units — 24 of which have been renovated — covered parking, a swimming pool and a hot tub. Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson of Greysteel represented the seller and procured the buyer in the deal.

January 11, 2017

SLIB Negotiates $3.7M Sale of Skilled Nursing Facility in Snyder, Texas

by Amy Works January 11, 2017

SNYDER, TEXAS — Senior Living Investment Brokerage Inc. (SLIB) has arranged the $3.7 million sale of a skilled nursing facility in Snyder, located approximately 110 miles northeast of Odessa, Texas. The facility was built in 1977 and features 97 licensed and 72 operational beds. A Texas-based operator purchased the property. Neither the seller nor the name of the facility were disclosed. Matthew Alley led the SLIB team in negotiating the transaction.

January 11, 2017

Retail Texas

Marcus & Millichap Brokers Sale of 19,253 SF Retail Property in Denton, Texas

by Amy Works January 11, 2017

DENTON, TEXAS — Marcus & Millichap has arranged the sale of Market Square at Unicorn Lake, a 19,253-square-foot retail property located at 2900 Wind River Lane in Denton. Built in 2008, the 100 percent occupied property features all triple-net leases. Bill Jordan of Marcus & Millichap represented the seller, a private investor, and secured the buyer, an out-of-state private investor, in the deal. The acquisition price was not released.

January 11, 2017

Retail Texas

Pierson Retail Advisors Negotiates Sale of 14,925 SF Retail Center in Palestine, Texas

by Amy Works January 11, 2017

PALESTINE, TEXAS — Pierson Retail Advisors has arranged the sale of Palestine Town Center, a retail center located in Palestine. A local buyer acquired the 14,925-square-foot property for an undisclosed price. At the time of sale, the property was 91 percent occupied by tenants including Western Finance, Preferred Income Tax and Livingston Hearing Aid Center. Pierson Retail Advisors represented the seller, a private individual, in the transaction.

January 11, 2017

Office Texas

Salesforce Leases 18,172 SF of Office Space in Dallas

by Amy Works January 11, 2017

DALLAS — Avison Young, in partnership with LiquidSpace, has arranged a lease for office space at The Centrum in Dallas’ Oak Lawn/Turtle Creek submarket for Salesforce. The Fortune 500 company will occupy 18,172 square feet at the office building, which is owned by Quadrant Investment Properties. Charlie Morris of Avison Young brokered the lease transaction.

January 11, 2017

Multifamily Texas

Greysteel Arranges Sale of Multifamily Property in Dallas

by Amy Works January 10, 2017

DALLAS — Greysteel has brokered the sale of Herschel Manor, a multifamily property located at 4107 Herschel Ave. in Dallas. 4107 Herschel LLC sold the property to WHA Yugen Sekinin Jigyou Kumiai LLP for an undisclosed price. Built in 1930, the property total 12 apartments and underwent a renovation and upgrade in 2015 and 2016. Renovations included upgrades to bathrooms and kitchens, installation of granite countertops and designer backsplashes in kitchens, stainless steel appliance packages throughout, upgraded hardware, fixtures and ceiling fans, refinished original hardwood flooring and new interior paint. Exterior renovations included painting the entire façade, new HVAC units and drought-resistant landscaping. The property also features a cookout area, covered parking and an on-site laundry facility.

January 10, 2017

Oklahoma Retail Texas

ShowBiz Cinemas Announces Plans for Family Entertainment Center in Oklahoma

by Amy Works January 10, 2017

EDMOND, OKLA. — ShowBiz Cinemas has announced plans to open a new family entertainment center in Edmond, Oklahoma. The development — Bowling, Movies and More — will feature 18 boutique bowling lanes, VIP event space, party rooms, 12 movie auditoriums with wall-to-wall curved screens, a café, full bar and modern arcade center. The Edmond development, scheduled to open by Christmas 2017, will mark the company’s first location outside Texas.

January 10, 2017

Multifamily Texas

Innovative Multi-Family Investments Buys 232-Unit Apartment Community in Bay City for $10M

by Amy Works January 10, 2017

BAY CITY, TEXAS — San Antonio-based Innovative Multi-Family Investments LLC has acquired Shadow Bay Apartments, located at 1700 Baywood Drive in Bay City, for $10 million. Built in 1978 and renovated in 2015, the 167,773-square-foot property features 232 apartments, a clubhouse, swimming pool, grilling courtyard and picnic areas. The buyer will also manage the property. Jim Hurd of Houston Income Properties brokered the transaction. The name of the seller was not released.

January 10, 2017

Retail Texas

EDGE Capital Arranges Sale of 20,988 SF Retail Center in Metro Houston

by Amy Works January 10, 2017

CYPRESS, TEXAS — EDGE Capital has brokered the sale of Rock Creek Plaza, a newly developed shopping center located at 14034 and 14044 Grant Road in Cypress. The unnamed buyer acquired the property for an undisclosed price. Pet Supermarket, Little Caesar’s and 9Round Fitness occupy the two-building, 20,988-square-foot center. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the undisclosed seller, while Mark Kalil of Mark Kalil & Associates represented the buyer.

January 10, 2017

Loans Multifamily Texas

BMC Capital Closes $4.4M Refinancing of Multifamily Property in San Antonio

by Amy Works January 10, 2017

SAN ANTONIO — BMC Capital has closed the $4.4 million cash-out refinancing of a multifamily property located in San Antonio. The 10-year loan features a 5.17 percent fixed interest rate, 75 percent loan-to-cost ratio and a 30-year amortization schedule. The undisclosed borrower will use the loan proceeds for a Class C multifamily property that it has owned for approximately one year.

January 10, 2017

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