Texas

Partnership to Develop 300-Unit Urban Living Community in Frisco

by Amy Works December 8, 2016

FRISCO, TEXAS — The Frisco Station Partnership has engaged Hillwood Multifamily to develop Station House, a 300-unit urban living community in Frisco. The project will be the first residential property to break ground in Frisco Station, a 242-acre multi-use development at the northwest quadrant of Dallas North Tollway and Warren Parkway. Designed by JHP Architecture/Urban Design, the four-story Station House will feature apartment homes with energy-efficient, stainless steel appliances and LED lighting, mudrooms, butler’s pantries, built-in desks, oversized soaking bathtubs and walk-in showers. Community amenities will include private interior courtyards with a pool area; outdoor kitchen and social spaces; massage room and Pilates studio; coffee bar and wine bar; resident lounge and library; demonstration kitchen and private dining room; game room; and terrace lounges. Additional project partners for Frisco Station include Rudman Partnership, which has owned the Frisco Station land since 1962, and Van Trust Real Estate, which serves as the office development partner.

December 8, 2016

CBRE Arranges Sale of Grocery-Anchored Retail Center in Dallas

by Amy Works December 8, 2016

DALLAS — CBRE, on behalf of Ares Management and Benchmark Opportunity Partners, has brokered the sale of Sierra Vista Plaza, a 15.9-acre grocery-anchored retail center in Dallas. ACF Property Management acquired the 163,000-square-foot property for an undisclosed price. Fiesta Mart, Marshalls, Melrose, Footlocker, Footlocker Kids, Applebee’s, Bank of America, Payless Shoe Source, Cici’s Pizza and Gamestop occupy the center. At the time of sale, the property was fully leased and stabilized. Chris Cozby and Chris Gerard of CBRE represented the seller in the transaction.

December 8, 2016

Hospitality Texas

HEI Hotels & Resorts Sells 309-Room Sheraton Dallas by the Galleria

by Amy Works December 8, 2016

DALLAS — HEI Hotels & Resorts has completed the sale of Sheraton Dallas by the Galleria, a full-service hotel located at 4801 Lyndon B. Johnson Freeway in Dallas’ Galleria submarket. A partnership between Driftwood Hospitality Management and an institutional real estate investor purchased the asset for an undisclosed price. Driftwood has assumed management of the hotel. The 309-room hotel features 13,741 square feet of function space across 21 meeting rooms; Front Yard, a full-service restaurant; Sheraton Club Lounge; a 24-hour fitness center; a 24-hour business center and an outdoor pool. John Bourret, Austin Brooks and Daniel Peek of HFF represented HEI in the transaction.

December 8, 2016

Multifamily Texas

San Antonio Commercial Advisors Brokers Sale of Two Apartment Communities in San Antonio

by Amy Works December 8, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of two apartment communities in San Antonio for an undisclosed sum. The properties include The Montage at North Point and City Heights Apartments, located at 3601 Magic Drive and 9400 Fredericksburg Road, respectively. Built in 1982, The Montage at North Point features 208 apartments, a swimming pool, picnic space, sports court and a dog park. City Heights, which was built in 1972, features 272 apartments across 35 two-story buildings, two swimming pools and a fitness center. Brandon Lo Porto and Scott Weems of SACA represented the undisclosed seller in the deal. The name of the buyer was not released.

December 8, 2016

Retail Texas

Pearland Central Plaza in Metro Houston Sells for $2.4M

by Amy Works December 8, 2016

PEARLAND, TEXAS — A partnership has completed the disposition of Pearland Central Plaza, a retail property located at 1909 N. Main St. in Pearland. A limited liability company acquired the 9,600-square-foot property for $2.4 million. Gus Lagos and Alex Bouchard of Marcus & Millichap represented the seller, while Keith Lloyd and James Wilson, also of Marcus & Millichap, represented the buyer in the deal.

December 8, 2016

Multifamily Texas

Presidium Group Acquires Two Apartment Properties in Dallas

by Amy Works December 7, 2016

DALLAS — Presidium Group has acquired two apartment properties in Dallas for an undisclosed price. Located in north-central Dallas, the properties are Linda Vista Apartments and Carlton Court Apartments. Constructed in 1980, Linda Vista Apartments features 370 units in a variety of studio, one- and two-bedroom layouts averaging 667 square feet. Carlton Court features 270 units in one-, two- and three-bedroom layouts averaging 828 square feet. Additionally, the property offers a swimming pool, fitness center and clubhouse. The buyer plans to rename Linda Vista to Linear and rebrand Carlton Court as Cottonwood at Park Central. The name of the seller and acquisition price were not released.

December 7, 2016

Industrial Office Texas

Gemini BP Buys 142,315 SF Office, Warehouse Park in Houston

by Amy Works December 7, 2016

HOUSTON — Gemini BP LP has acquired Gemini Business Park, an office and warehouse park located at 902-930 Gemini St. in Houston. Situated on 8.5 acres, the park comprises three building totaling 142,315 square feet of leasable space. The multi-tenant park features a combination of dock-high and ground-level loading. At the time of closing, the industrial park was 97 percent leased and has since been 100 percent leased. Fred Ghabriel of Bejjani & Associates represented the buyer, while Preston Yaggi, Steve Kuper and Ryan Searle of Lee & Associates represented the undisclosed seller.

December 7, 2016

Retail Texas

Marcus & Millichap Facilitates Sale of 41,161 SF Retail Property in Granbury, Texas

by Amy Works December 7, 2016

GRANBURY, TEXAS — Marcus & Millichap has arranged the sale of Avalon Texas Center, a retail property located at 1030 E. Highway 377 in Granbury. Built in 2002, the 41,161-square-foot retail center is situated on a 4.6-acre lot. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a limited liability company. The name of the buyer and acquisition price were not released.

December 7, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Sale of 17,229 SF Office, Warehouse Property in San Antonio

by Amy Works December 7, 2016

SAN ANTONIO — Stream Realty Partners has brokered the sale of an office and warehouse building located at 5300 S.E. Loop 410 in south San Antonio. LBL 5300 LLC acquired the 17,229-square-foot property from CLN/WWMK LP for an undisclosed price. Jason Schnittger and Michael Kent of Stream Realty Partners – Central Texas represented the seller, while Nick Prater of 4M Realty represented the buyer in the deal.

December 7, 2016

Restaurant Retail Texas

Davis Commercial Brokers Sale of 8,250 SF Commercial Land in Montrose, Texas

by Amy Works December 7, 2016

MONTROSE, TEXAS — Davis Commercial Real Estate has arranged the sale of a commercial land parcel located at 223 Westheimer in Montrose. Gazebo Management Inc. acquired the 8,250-square-foot site for the development of a dumpling restaurant. Mark Davis of Davis Commercial represented the undisclosed seller, while Charles Kwon of Realm Real Estate Professionals represented the buyer. The acquisition price was not released.

December 7, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
18