DALLAS — Marcus & Millichap has closed the sale of Paradise Manor, a 16-unit apartment complex in Dallas. The Class B property is located at 5317 Junius St. across from Munger Park in the Old East Dallas submarket. Stephen Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. An outside broker procured the undisclosed buyer.
DALLAS — Mote & Associates Inc. has brokered the sale of a 5,262-square-foot retail center located at 11525 Jupiter Road in east Dallas. Justin Clark of Mote represented the buyer, BFI Jupiter LLC, in the transaction. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the seller, SSN Group LLC. The property was 100 percent occupied at the time of sale.
AUSTIN, TEXAS — KeyBank Real Estate Capital has arranged $6.5 million in acquisition financing for Western Trails Senior Apartments, a garden-style apartment community in Austin, on behalf of Harmony Housing, a nonprofit organization that provides multifamily housing throughout the country. Located at 2422 Western Trails Blvd., the 99-unit property features a mix of studio, one- and two-bedroom apartments, laundry facilities, a fitness center and a hair salon.
DALLAS — EDGE Realty Capital Markets has arranged the sale of Wylie Crossing, a 12,327-square-foot, multi-tenant retail center located at the corner of Country Club Road and West Brown Street in Wylie, a northeastern suburb of Dallas. Brandon Beeson and John Mungioli of EDGE represented the seller, Wylie Building LP, in the transaction. Greg Cagle of Coldwell Banker represented the buyer, WinWin Holdings LLC.
ADDISON, TEXAS — Stream Realty Partners has secured an 8,223-square-foot office lease at Spectrum Center in the Dallas-Fort Worth metro of Addison on behalf of research and consulting firm Parks Associates. Located at 5080 Spectrum Drive, the building offers 598,250 square feet of Class A office space. Todd Noonan of Stream represented Parks Associates in the transaction. Avery Bush and Aarica Mims were the in-house representatives for the landlord, Granite Properties.
HOUSTON — Reytec Construction Resources Inc. has purchased approximately 14 acres of land at the corner of Bingle and Tidwell roads in northwest Houston for the development of Reytec’s new, 32,000-square-foot office headquarters. Trey Erwin and Walker Barnett of Colliers International represented Reytec and investment partner RES Bingle Partners LP in the transaction. Thomas Monaghan and Jeff Lindenberger of Avison Young represented the seller.
PAMPA, TEXAS — TREK Investment Group has brokered the sale of a retail property located at 854 S. Hobart St. in Pampa, a city in northwest Texas. Parker Carroll of TREK represented the undisclosed buyer in the sale of the property, which was built in 2015 and is triple-net leased to Family Dollar. Other terms of sale were not released.
CORPUS CHRISTI, TEXAS — Gulf Coast Growth Ventures, a joint venture between ExxonMobil Corp. and Saudi Arabia Basic Industries Corp. has proposed plans to build a $10 billion, plastics manufacturing complex along the Gulf Coast in south Texas. The 1,300-acre plant, which would be the world’s largest ethylene production center and could come on line as early as 2020, will be located in San Patricio County. Construction of the plant is expected to create 6,000 jobs. Upon completion, the plant is projected to create an additional 3,500 jobs.
HOUSTON — Three developers will deliver new elementary schools for the 2017-2018 school year to Fort Bend County in the greater Houston area. Cadence McShane is general contractor for James Patterson Elementary School at 18702 Beechnut St. in Houston; Drymalla Construction Co. Inc. is building James C. Neill Elementary School at 3820 Harvest Corner Drive in Richmond; and Satterfield & Pontikes is constructing Donald Leonetti Elementary School at 1757 Waters Lake Blvd. in Missouri City. The Fort Bend Independent School District will partially finance the $30.5 million construction cost of each school with $52 million in tax-exempt bond issued by municipal finance firm Siebert Cisneros Shank & Co. LLC.
MCKINNEY, TEXAS — Aimbridge Hospitality, a Texas-based hotel investment and management firm, has released plans for the Craig Ranch Resort and Conference Center, a hospitality development that will be situated on eight acres at the corner of Collin McKinney Parkway and Weiskopf Avenue in McKinney. The property, which will feature 285 rooms and 33,000 square feet of meeting space, will be part of the 2,200-acre, master-planned Craig Ranch development.
