RICHMOND, TEXAS — Hunington Properties Inc. (HPI) has brokered the sale of Long Meadow Plaza Shopping Center, a 15,692-square-foot retail center located at 7909 W. Grand Parkway S. in the Houston metro of Richmond. Tenants include Wendy’s, Mattress One, Today’s Vision and Little Caesars, all of which are subject to seven-year, triple-net leases. Rafael Melara of Hunington represented the seller in the transaction. Other terms of sale were not disclosed.
DALLAS — Dougherty Mortgage LLC has arranged a $5.3 million loan for the acquisition of Woodside Lane Apartments, a 107-unit multifamily community located at 9302 Forest Lane in Dallas. The 12-year Fannie Mae loan features a 30-year amortization schedule and was arranged through a partnership with Old Capital Lending on behalf of the borrower, TFG Woodside LLC.
ODESSA, TEXAS — The Woodmont Co., a Fort Worth-based brokerage and development firm, has closed the sale of a 24,000-square-foot, freestanding retail building located at 5161 E. 42nd St. in the west Texas city of Odessa. Gal Avneri of The Woodmont Co. represented the seller, RW Odessa Holdings LP, in the transaction. Joseph Williams of The Woodmont Co. represented the buyer, Altitude Trampoline Park. The building was formerly occupied by Staples.
DALLAS — JLL has negotiated a 6,760-square-foot office lease at 1800 Landmark Blvd. in Dallas on behalf of DerbySoft Inc., a provider of software for the hospitality industry. Steve Thelen of JLL represented the tenant in the lease negotiations. Tabitha Layne of Sunwest Real Estate Group represented the landlord, 14800 Landmark LLC. The space will serve as the company’s new North American office, which was previously located in Frisco.
HOUSTON — Allied Orion Group is nearing completion of Eighteen25, a 242-unit apartment community located in downtown Houston. The property will offer studio, one- and two-bedroom units ranging in size from 525 to 1,751 square feet. Amenities will include a rooftop pool, fitness center, clubroom, valet trash services and a dog park. Meeks + Partners designed the property.
NORTH RICHLAND HILLS, TEXAS — JLL has negotiated the sale of Diamond Loch, a 138-unit multifamily community located in the Fort Worth suburb of North Richland Hills. Scott LaMontagne, Zar Haro, Moses Siller and David Fersing of JLL represented the seller, 6100 Glenview Drive LLC, in the transaction. California Capital Real Estate Advisors Inc. purchased the asset for an undisclosed price.
MONTGOMERY, TEXAS — The J. Beard Real Estate Co. has brokered the sale of Montgomery Trace, a 94,893-square-foot shopping center situated on 14 acres at 20821 Eva St. in Montgomery, about an hour northeast of Houston. Anchored by a 31,760-square-foot Brookshire grocery store, the property was 92 percent leased at the time of sale. Jeff Tinsley of The J. Beard Co. represented the seller, Montgomery Trace Shopping Center DST, in the transaction.
SUGAR LAND, TEXAS — Poynter Commercial Properties Corp. has negotiated 30,266 square feet of office leases at Commerce Green Office Park in Sugar Land. Notable individual leases include Comcast of Houston LLC’s 6,936-square-foot space and Community Impact Newspaper’s 6,397-square-foot space. Developed in 1998, the Class A, 1.2 million-square-foot property is now 100 percent leased. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, Commerce Green Associates LP. in the lease negotiations.
HOUSTON — NAI Partners has brokered the sale of 33,000-square-foot warehouse located at 6922 and 6930 La Paseo St. in southeast Houston. Situated on 2.6 acres and built in 1974, the property features 16- to 22-foot clear heights and four drive-in/grade-level doors. Chris Caudill of NAI Partners represented the seller, Mitas Tower. Nabil Murad of NM Management LLC represented the buyer, Radwan A-Z LLC.
DALLAS — CBRE has arranged the sale of Trinity Towers, a Class A, 634,381-square-foot office tower located in the Medical and Love Field District of Dallas. The 20-story building was recently renovated and features structured parking, a full-service deli, conference center and fitness center with locker rooms. The tower is 97 percent leased to tenants including Aetna, Children’s Medical Center and Southwest Airlines. Gary Carr, Eric Mackey, Evan Stone, John Alvarado, Jared Chua and Robert Hill of CBRE worked on behalf of the seller, JP Realty Partners. Stanton Road Capital acquired the property. The price was not disclosed, but a website affiliated with The Dallas Morning News, dallasnews.com, reports that the asset was sold for $50 million. “As one of the market’s most recognizable buildings, Trinity Towers presented investors with an exceptional asset located within Dallas’s premier emerging marketplace,” says Carr. “The building’s outstanding tenants and low-risk upside potential attracted a wide range of investor interest.” The property is positioned along Stemmons Freeway, and is located near both Dallas Love Field Airport and DFW International Airport. Stanton Road Capital is a Los Angeles-based investment management firm focused on commercial real estate and private equity strategies. — Katie Sloan
