CASTLE HILLS, TEXAS — Oldham Goodwin Group LLC has negotiated the sale of The Gallery, a 19,888-square-foot office building located in the San Antonio suburb of Castle Hills. The three-story property is situated on the east side of Northwest Military Highway, just north of Loop 410. Steve Monroe and Ben Berry of Oldham Goodwin represented the buyer, a San Antonio-based investment firm, in the transaction. Jonathan Haag and Guyla Sineni of JLL represented the seller.
COTULLA, TEXAS — Marcus & Millichap has arranged the sale of Cowboy Inn Cotulla, a 60-room hotel locate at 145 FM 468 West in Cotulla, about 90 miles southwest of San Antonio. Andrew Frosch, Chris Gomes, Robert Arzola and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller. Leilani Tedeski of Marcus & Millichap procured the buyer. Both parties were limited liability companies.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 25,505-square-foot industrial lease at 5910 Techni Center Drive in Austin. Ryan Wilson and Matt Fain of ECR represented the undisclosed landlord in the lease negotiations. Davis Bass of HPI represented the tenant, Kasita Operations LLC, a producer of tiny, prefabricated homes.
GRAND PRAIRIE, TEXAS — Cintas Corp., a Cincinnati-based provider of uniforms and other customized products, has leased 22,622 square feet at Trinity 161 Trade Center, an office/warehouse property located at 3100 N. State Highway 161 in Grand Prairie. John Leinbaugh, Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations.
PLANO, TEXAS — Heady Investments will develop Legacy South Office Center, a seven-story, 210,000-square-foot office property in Plano. Designed by Jack O’Brien & Associates and financed by Stillwater National Bank, the property will be situated on 4.4 acres on the west side of the Dallas North Tollway near Tennyson Parkway. General contractor Ed Henry & Associates expects to break ground on the project during the fourth quarter, with occupancy slated for February 2019.
FORT WORTH, TEXAS — UMB Bank, a subsidiary of Kansas City-based UMB Financial Corp., has signed a 10-year office lease at 777 Main St. in Fort Worth. The lease includes 12,000 square feet of office space on the fifth floor and a 7,000-square-foot lobby. The company expects to move into the new space in 2018. Mike Gosslee and Jay Holland of Cushman & Wakefield represented UMB Bank in the lease negotiations.
Vanguard Negotiates Sale of 92-Unit Townhome Community in Lubbock LUBBOCK, TEXAS — Dallas-based Vanguard Real Estate Advisors has negotiated the sale of Siena Townhomes, a 92-unit rental community located at 2102 34th St., approximately 1.8 miles south of Texas Tech University in Lubbock. The property was 95 percent occupied at the time of sale. Jordan Cortez of Vanguard represented the New York-based seller in the transaction and procured the buyer, a North Texas-based private investor.
DALLAS — STRIVE has brokered the sale of a 20-year, absolute net ground lease retail property near White Rock Lake in Dallas. Built in 2017, the property is currently leased to Chick-fil-A. Jason Vitorino of STRIVE represented the seller, a local partnership, in the all-cash transaction and procured the buyer, an out-of-state 1031 exchange.
HOUSTON — Dallas-based BMC Capital has arranged a $1.9 million loan for the acquisition of a 61-unit multifamily property in the Oak Forest neighborhood of Houston. Clayton Wells of BMC Capital arranged the non-recourse bridge loan, which features two years of interest-only payments. The funds will also be used to make capital improvements to the property.
MIDLAND, TEXAS — Adolfson & Peterson Construction has broken ground on a new office development in Midland for Houston-based oil and gas exploration firm Apache Corp. The project will deliver a three-story building adjacent to Apache’s existing offices on Veterans Airpark Lane. Designed by Kirksey Architecture, the new building will feature 70,750 square feet of office space and amenities such as a daycare, fitness center and a physician’s clinic. Substantial completion of the property is scheduled for the first quarter of 2018.
