DALLAS AND IRVING, TEXAS — Bradford Commercial Real Estate Services has brokered two leases totaling 15,595 square feet of office space in the Dallas metro area. In the first lease, Kingdom Resources LLC, a provider of oil and gas services, leased 8,791 square feet of office space at Freeport Corporate Center, located at 8650 Freeport Parkway South in Irving, from Slate Freeport Holdings. Kevin Brookmole of Bradford Commercial represented the tenant, while Geoff Shelton and Marshall mays of Holt Lunsford Commercial represented the landlord. In the second lease, Keaton Interiors Inc., an interior design and architecture firm, leased 6,804 square feet of office and showroom space at 4444 Spring Valley Road in Dallas from SV Associates Partnership. Susan Singer and Brian Pafford of Bradford Commercial represented the landlord, while Cole Horowitz of NAI Robert Lynn represented the tenant.
AUSTIN, TEXAS — Steadfast Apartment REIT III has acquired Canyon Resort at Great Hills, an apartment community located in Austin, for $44.5 million. Built in 1997, the property features 12 three-story buildings with a total of 256 apartments in a mix of one-, two- and three-bedroom layouts, averaging 983 square feet. Community amenities include a pool with sundeck, fitness center, barbecue area, business center, detached garage parking and hiking trails. At the time of sale, the property was 94.5 percent occupied with in-place rents averaging $1,335 per month. The name of the seller was not released.
MCKINNEY, TEXAS — KWA Construction, serving as general contractor, has completed the construction of Post Oak Apartments, an affordable housing complex located in McKinney. Owned by McKinney Millennium II and developed by GroundFloor Development, the complex features 182 units, with 130 units reserved for residents earning 60 percent or less of the area median income and the remaining units at market-rate rents. Designed by Architettura Inc., the property features one-, two- and three-bedroom apartments with hardwood flooring, central air conditioning, dishwashers, microwaves, washer/dryer hookups and individual patios or balconies. On-site amenities include a leasing center and clubhouse with fitness center, business center, laundry facility, swimming pool and resident lounges with a kitchen. Boston Capital was a financial investor in the project.
STILLWATER, OKLA. — Marcus & Millichap has brokered the sale of a Walmart outparcel located at 621 S. Country Club Road in Stillwater. The 40,075 square feet of commercial land is situated adjacent to a Walmart Supercenter and offers utilities and road frontage. Tom Mann and Derek Wilson of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, a bank/financial institution, in the deal. The acquisition price was not released.
MISSOURI CITY, TEXAS — Tire Universe, a tire retailer, has signed a long-term lease for 42,430 square feet of industrial space at Gateway Southwest Industrial Park in Missouri City, a southwest suburb of Houston. Situated within the 131,560-square-foot Building 1, the fully outfitted space includes a 1,400-square-foot office component, nine dock doors and T-5 lighting. Sandy Kee of Kee Commercial Realty represented the tenant, while Ed Bane and Jon Michael of Bridge Commercial Real Estate represented the co-developers, Conor Commercial Real Estate, a member of The McShane Cos., and USAA Real Estate Co., in the deal.
SPRING, TEXAS — Cypressbrook Co. has arranged the sale of an office building located at 22315 Gosling Road in Spring. Primo Hot Tubs & Swim Spas Inc. acquired the 6,000-square-foot property from Coil Tubing Technology Inc. for an undisclosed price. Joyce Sterling of Cypressbrook Co. brokered the transaction.
AUSTIN, TEXAS — Houston-based The Hanover Co. has completed the disposition of Hanover South Lamar, a 340-unit mid-rise apartment community located in downtown Austin. Boston-based General Investment & Development acquired the property, which was 95 percent occupied, for an undisclosed price. Pat Jones of ARA Newmark represented the seller in the deal. The eco-friendly property features 550 rooftop solar panels, a Heritage Tree Grove of preserved and relocated live oak and pecan trees and electric car charging stations. On-site community amenities include a resort-style swimming pool, courtyard with outdoor cooking stations and private cabanas, clubhouse with theater and gaming rooms, private dog park and a fitness center. Apartment units feature gourmet kitchens, granite and quartz countertops, high ceilings, large windows, wood-style flooring and energy-efficient appliances.
HOUSTON — Marcus & Millichap has brokered the sale of an industrial property located at 8934 Gulf Freeway in Houston. A developer acquired the 34,000-square-foot property for an undisclosed price. Derek Hargrove and Matthew Mignerey of Marcus & Millichap represented the seller, a private investor, in the deal.
DALLAS — The Dallas Morning News, owned by A. H. Belo Corp., has signed a 16-year lease to occupy The Statler Library a 90,000-square-foot office property formerly known as the Old Dallas Central Library in downtown Dallas. The media company will relocate from its current 325,000-square-foot headquarters space to the new facility between April and June. The Statler Library offers a more flexible space that will allow the company to build a contemporary digital newsroom with open floor plans, areas for employees to collaborate and a rooftop patio. Centurion American Development Group, owner and developer of The Statler, is revitalizing the long-vacant building. Slated for completion in mid-2017, the property will feature a boutique hotel, residences, restaurants and retail space, in addition to office and meeting spaces. Russ Johnson of Peloton CRE represented the landlord, Commerce Statler Development LLC, while Jeff Ellerman and Phil Puckett of CBRE represented The Dallas Morning News in the deal.
SAN ANTONIO — Stream Realty Partners has arranged the lease of 58,000 square feet of industrial space at Building 5 of Interstate Business Park in San Antonio. Wisenbaker Builder Services Inc., a provider of interior finish solutions, will occupy the space located at 6903 N.E, Loop 410. Ryan Boozer of Stream Realty Partners represented the tenant, while Cavendar & Hill Properties Inc. represented the landlord, Rio Pas Investments, in the deal.