SHENANDOAH, TEXAS — Tim Maczko and Lisa Hughes of The J. Beard Real Estate Co. represented VP1 Partners LP in the lease of 8,720 square feet within 128 Vision Park Office in Shenandoah. The 75,000-square-foot, three-story office building is situated on five acres near I-45. Fischer Co. represented the tenant, Reed Group Management, which will occupy the space by the end of the year.
AUSTIN, TEXAS — Restoration Hardware Holdings Inc. (RH) has opened RH Austin, The Gallery at The Domain at 11720 Domain Blvd. in Austin. The design gallery spans four stories and over 60,000 square feet. The property features installations of home furnishings in a gallery setting, including a floor dedicated to RH Modern with an integrated RH contemporary art gallery. RH Austin also includes an interactive design atelier, which is a workspace that allows customers, designers and architects to conceptualize and customize a home. Architect James Gillam of Backen, Gillam & Kroeger designed the property.
DALLAS — CBRE Capital Markets’ debt and structured finance team has arranged debt financing for Tollway Towers, a three-building office asset in Dallas. CBRE arranged the $32 million non-recourse loan on behalf of Champion Partners and CrossHarbor Capital Partners. Tollway Towers comprises two office towers and a garden office building totaling 341,836 square feet. Tollway Towers is located along the Dallas North Tollway, two miles north of I-635. The property was built in 1983 and renovated in 2007. The new ownership plans to invest several million dollars into the buildings for both capital upgrades and a speculative suite program tailored to attracting tenants seeking 750 to 5,000 square feet. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured financing on behalf of the borrowers.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of two grocery-anchored shopping centers located in San Antonio. The first property, located at 3614 Pleasanton Road near its intersection with Formosa Boulevard, spans 30,675 square feet on 2.9 acres. The second property, located at 340 Enrique Barrera Parkway, includes 50,240 square feet on 4.3 acres. Arlan’s Market, a local grocery store chain with 20 locations across south Texas, and Family Dollar anchor both properties. SACA’s Bradley Suttle negotiated the sale on behalf of the seller, 2ML Real Estate Interests Inc., and procured the buyer, a Texas-based investment group.
HOUSTON — A group of 16 tenant-in-common (TIC) investors has sold the Colonnade at West Lake Houston retail development to a local retail investment and development company. The 54,449-square-foot property, located at 18455 Lake Houston Parkway, was 94 percent leased at the time of sale. SONA Colonnades LP, which owns other area retail properties, was the buyer. Chris Dray of NewQuest Properties represented the buyer of the four-building property. The 6.8-acre Colonnade is located near the eastern shore of the 12,000-acre Lake Houston.
DALLAS — Trammell Crow Co. (TCC), Alliance Architects and Fast-Track Construction have completed an early childhood center for Park South YMCA in Dallas. The project was built on behalf of In The City For Good, a charitable organization that develops food pantries and early childhood education programs for inner city youth. TCC, Alliance and Fast-Track converted an abandoned 2,000-square-foot laundromat into a preschool building that will serve 145 children. The one-story building, located at 3901 Latimer St., features three classrooms. The development team designed built-in shelves for storage, added windows to allow for natural light and painted all the rooms in bright colors to aid in learning.
SAN ANGELO, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Kool Smiles, a dentist’s office, in San Angelo. The property is a net-leased investment with all maintenance and repairs handled by the tenant. Parker Carroll of Coldwell Banker Commercial represented the seller in the transaction.
AUSTIN, TEXAS — PacVentures Inc. has acquired a former Walmart located at 8201 N. FM 620 in Austin. The site totals 39 acres, and the former Walmart building spans 220,000 square feet. PacVentures is a commercial real estate investment firm based in San Diego, with affiliate offices in Austin and Phoenix. AQUILA Commercial will market the property.
SAN MARCOS, TEXAS — HDR has opened an office in San Marcos to serve Hays County and nearby cities including San Marcos, Kyle, Buda and Dripping Springs. The employee-owned engineering firm has leased space in the Red Oaks shopping center, located at 1290 Wonder World Drive, near the Hays County Government Center. Allen Crozier has been named manager of HDR’s San Marcos office. Crozier has been with HDR since 2005 and previously worked with the Texas Department of Transportation.
FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of a 2,820-square-foot net leased retail property located at 4217 Bridge St. in Fort Worth. Lisa Estrada of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. Estrada also secured the buyer, another individual/personal trust. The property is located two miles from downtown Fort Worth along I-30.