HOUSTON — Wellington Fisher Ltd., a subsidiary of Houston-based Wellington Development Co., has sold 17 acres located at the corner of North Main Street and I-1 to the University of Houston. The partnership originally purchased the property from former Houston Rockets star Hakeem Olajuwon. The site has since been used for parking. The University of Houston—Downtown plans to build a science and technology building on the site. Brendan Lynch of CBRE and Rudy Hubbard of JLL represented the seller.
FORT WORTH, TEXAS — The Vitorino Group has arranged the sale of an El Pollo Loco ground lease in Fort Worth. Located along I-35 in front of a Costco, the restaurant is an outparcel of Presidio Towne Crossing, a 1 million square-foot mixed-use development. A Connecticut-based institution was the seller, while a Dallas-based partnership was the buyer.
HOUSTON — NAI Partners has represented Pac-Van Inc. in leasing a freestanding office/warehouse facility situated on 3.1 acres at 12206 Beaumont Highway in Houston. Founded in 1993 in Indianapolis, Pac-Van specializes in providing portable storage and office space solutions. The company provides 14-gauge steel storage containers. Michael Keegan of NAI Partners represented the tenant, Pac-Van, during lease negotiations, while Fausto Nolassco of Realty Associates represented the landlord, Gabriel Valeriano.
ROUND ROCK, TEXAS — X Team International partner Venture Commercial Real Estate has represented LA Fitness in a land acquisition in Round Rock for a new location. The 37,000-square-foot gym will be located on a 4.7-acre site at the intersection of East Palm Valley and Grimes boulevards. The new LA Fitness is slated to open in summer 2017. Venture’s John Zikos, Jonathan Cooper and Cheryl Hill, along with Walt Brown Jr. and Tim Dolander of Diversified Partners, represented LA Fitness in the transaction. Brett Baker with HEB Grocery Co. represented the seller.
HUMBLE, TEXAS — Interurban Corp. has purchased Woodland Hills, a 282-unit, Class A apartment community in the northeast Houston suburb of Humble. Woodland Hills is located at 3918 Atascocita Road within a 15-minute drive of Generation Park, a deed-restricted, 4,000-acre master-planned development that will include the FMC Technologies’ headquarters campus and the 52-acre Redemption Square corporate lifestyle district. Completed in 2009, the property has had an average occupancy above 92 percent for the past two years. The gated, garden-style community has units averaging 880 square feet and amenities such as a swimming pool, fitness center, clubhouse, lounge and business center. HFF marketed the property on behalf of the seller, a joint venture between KKR and Crossbeam Concierge.
SAN ANTONIO — Marcus & Millichap has arranged the sale of 6.8 acres of land in San Antonio. Jon Danklefs of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a partnership. The land is located at the southwest corner of Loop 410 and Medina Base Road. Nearby retailers in the area include Walmart Supercenter, Valero Corner Store, Walgreen’s, Jack in the Box, Burger King and HEB.
HOUSTON — NAI Partners has arranged the lease for a freestanding 23,000-square-foot manufacturing facility to Lion Millwork Co., a cabinet and carpentry business. The newly constructed property is located at 13735 FM 529 in Houston. John Ferruzzo and Nick Peterson of NAI Partners represented the landlord, Southbelt Park Ltd., during lease negotiations, while Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Lion Millwork.
CORSICANA, TEXAS — Binswanger has negotiated the sale of an industrial building in Corsicana on behalf of Eliken Properties, an industrial real estate investment company that owns and manages properties throughout the Unites States. The 1,453,615-square-foot industrial building is located on 139 acres at 2200 S. Business 45. Two tenants, Pactiv and Guardian Glass, occupy the property, and Binswanger will be working with the new owner to market to additional tenants. Corsicana is located 60 miles from Dallas, 70 miles from Tyler and 190 miles from Houston. Holmes Davis of Binswanger’s Dallas office handled the acquisition.
DALLAS — Grander Capital Partners LLC has purchased Emerald Plaza, a 74,182-square-foot office building located at 14900 Landmark Boulevard in Dallas. The purchase of the six-story office building is Grander Capital’s first in the Dallas-Fort Worth area. Grander Capital has retained Ward Eastman and Rodney Helm of Cushman & Wakefield to lease the property. Grander Capital’s investment in Emerald Plaza includes plans to modernize the building’s lobby, signage and landscaping. Located in the Quorum Market near the Dallas North Tollway, Emerald Plaza is 84 percent leased and includes amenities such as 100 percent underground parking and proximity to several restaurants and retail establishments.
HOUSTON — Colvill Office Properties (COP) and Cushman & Wakefield have secured a 52,822-square-foot lease for Saudi Basic Industries Corp. (SABIC) at 2500 CityWest Boulevard, a 578,284-square-foot office building located in Houston’s Westchase District. SABIC recently expanded its presence at the Class A asset, taking two full floors totaling 46,063 square feet and another 6,759 square feet in the lobby. This brings SABIC’s capacity at the 25-story tower to 75,840 square feet. David Guion and Tim Relyea of Cushman & Wakefield represented SABIC in the lease transaction. Win Haggard of COP represented the property ownership, Crimson Real Estate Fund LP, a private equity fund sponsored by Patrinely Group and USAA Real Estate Co.
