HOUSTON — Austin-based TREK Investment Group has brokered the sale of Breen Plaza, a 20,000-square-foot retail center in northwest Houston. Built in 2007, the property was 100 percent leased to 11 different tenants at the time of sale. Ethan Offenbecher of TREK represented the undisclosed seller in the transaction. The buyer and sales price were also withheld.
DALLAS — Marcus & Millichap has brokered the $92.8 million sale of nine multifamily properties totaling 1,798 units in Texas. Six of the properties accounting for 570 units are located in the Dallas-Fort Worth (DFW) metroplex. The sale also includes the disposition of the 70-unit Pinehurst Apartments in Longview, the 176-unit Crosswinds Apartments in Corpus Christi and a portfolio of properties located in Pasadena totaling 982 units. Nick Fluellen and Bard Hoover of Marcus & Millichap led the investment sales effort on each transaction. The names of the sellers and buyers for each asset were not disclosed.
FRISCO, TEXAS — MYCON General Contractors has completed construction of a 188,564-square-foot Walmart Supercenter store at 355 Stonebrook Parkway in Frisco. The big box property features surface parking and extensive landscaping. Raymond Harris & Associates provided architectural services for the project, construction of which began in July 2016. This is the 25th new construction project that MYCON has completed for Walmart in Texas since 2009.
IRVING, TEXAS — Bridge Investment Group LLC has purchased Tower 1320, a 243,109-square-foot, Class A office tower located within the 12,000-acre Las Colinas business district in Irving. Built in 1981, the 10-story tower features an adjacent two-story parking deck with 1,045 spaces. Evan Stone, Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Mary Claire Houseman of CBRE represented the seller, Arden Group, in the transaction. Peloton Commercial Real Estate will handle the marketing and leasing of the property.
FRISCO, PROSPER AND WAXAHACHIE, TEXAS — SHOP Cos. has brokered the sale of three retail centers totaling 43,026 square feet in the Dallas-Fort Worth (DFW) metroplex. Miami-based Antegrade Holdings purchase the 20,823-square-foot Frisco Market Center; a Texas-based limited liability company acquired the 10,149-square-foot La Cima Crossing in Prosper; and an Oklahoma-based investor bought the 12,054-square-foot Waxahachie Retail Center. Each of the centers was 100 percent leased at the time of sale.
SPRING, TEXAS — The J. Beard Real Estate Co. has arranged the sale of a 22,000-square-foot office/warehouse property situated on two acres at 26009 Budde Road in the northern Houston suburb of Spring. The four-building property was built in 1999 and is currently occupied by seven tenants. Jeff Beard of J. Beard represented the seller, Pines Business Park LLC. San Antonio-based Windswood Corp. purchased the asset for an undisclosed price.
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DALLAS — Greysteel has closed the sale of a portfolio of two multifamily properties totaling 814 units in Dallas. The 656-unit Forest Cove Apartments was built in 1981 and offers one- and two-bedroom units, as well as amenities such as a pool, tennis court and on-site laundry facilities. The 158-unit North Creek was built in 1970 and offers one- and two-bedroom units in addition to amenities such as a pool, laundry facilities and covered parking. Both properties are located just north of Interstate 635 and east of Highway 75 in northeast Dallas. Doug Banerjee, Boyan Radic, Andrew Mueller and Andrew Hanson of Greysteel negotiated the sale, other terms of which were not disclosed.
DALLAS — Dallas-based development and asset management firm Oaxaca Interests will redevelop a warehouse located at 660 Fort Worth Ave. in west Dallas into a 10,000-square-foot retail and restaurant property. The warehouse property, which was previously occupied by W&B Refrigeration Service Co., is situated on one acre next to the Sylvan/Thirty mixed-use development. Oaxaca is targeting two to five tenants for the project, construction of which is scheduled to begin before the end of 2017 and wrap up in fall 2018.
HARLINGEN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Harlingen, a 288-unit multifamily community located at 902 S. Palm Court Drive in the Rio Grande Valley city of Harlingen. Will Balthrope, Jordan Featherston and Joey Tumminello of IPA represented the undisclosed seller and procured the buyer, Presidium. The three-story property was built in 2015 and offers amenities such as a pool, fitness and business centers, a picnic area and an Internet café with a Starbucks.
