HOUSTON — NAI Partners has represented the landlord in a 22,400-square-foot industrial lease at 2906 Holmes Road in Houston. Chris Caudill and Joel Michael of NAI Partners represented owner KRP Ventures LP during lease negotiations. Mike Easley of Waterman Steel represented the tenant, Premier Auto Transport, a trucking and transportation company.
SAN ANTONIO — Sterling Organization, a private equity real estate investment firm headquartered in Palm Beach, Fla., has acquired Park North, a 635,382-square-foot retail power center in San Antonio. The asset was purchased on behalf of the firm’s institutional value-add fund Sterling Value Add Partners II LP for $81 million. Chris Cozby and Chris Gerard of the CBRE National Retail Investments Group’s Dallas office brokered the transaction. Park North consists of 17 retail buildings on 45.8 acres. The property is located along San Antonio’s Interstate Loop 410 between Blanco Road and San Pedro Avenue. Park North is 73 percent occupied and is anchored by Target, Alamo Drafthouse Cinema and Cost Plus World Market.
AUSTIN, TEXAS — The Los Angeles office of Hunter Hotel Advisors has represented California-based Excel Hotel Group and the unnamed buyer in the sale of the Fairfield Inn & Suites Austin Northwest in Austin. Built in 2014, the four-story hotel was purchased by a New York opportunity fund.
DALLAS — A group of heirs has sold a 40.7-acre tract of undeveloped land to William Young, a Houston-based investor. The acreage is situated at 10407 S. Central Expressway, where I-45 and I-20 converge in Dallas County. The site features 300 feet of frontage along South Central Expressway. Wayne Burgdorf of Coldwell Banker Commercial Advisors represented the seller, Dallas South 48 JV, an investment group formed in 1986. Suzanne Haselberger of Realty Associates in Houston represented Young in the transaction.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of two shopping centers located in San Antonio. Both properties are located in the northwest submarket near Loop 410. The first property, located at 5440 Evers Road, is a 4,200-square-foot retail center on 0.3 acres occupied by CD Exchange/DVD Exchange. The second property, located at 6402 Callaghan Road, is a 5,463-square-foot retail center on 0.5 acres with four tenants. SACA’s Brent Smith and Bradley Suttle represented the San Antonio-based seller and procured the buyer as well.
KEENE, TEXAS — Construction has begun on the redevelopment of Keene Plaza, a retail development in the city of Keene. Samantha Gillin of Gillin Realty LLC secured the sale of the property and will be working with new owner, James Wright, on the remodeling and leasing of the property, which is located at the corner of Highway 67 and College Street. Wright, a broker with RE/Max in Cleburne, is the developer and owner of Keene Plaza. Upon completion of the redevelopment, Keene Plaza will consist of retail, office and hospitality space ranging from 1,250 square feet to 5,000 square feet.
GRAND PRAIRIE, TEXAS — IKEA is set to build its second Dallas/Fort Worth area store, opening in Grand Prairie in Fall 2017. Groundbreaking is scheduled for October. Mycon General Contractors will serve as construction manager; Segovia Retail Group is handling site selection support; Winkelmann and Associates is the civil engineer; KJWW Engineering Consultants is the structural engineer; and GreenbergFarrow is the architect. The store will employ more than 300. The 290,000-square-foot IKEA Grand Prairie and its 1,100 parking spaces will be built on 30 acres along the east side of State Highway 161 and Mayfield Road.
AUSTIN, TEXAS — Endeavor Real Estate Group and Northwood Investors have announced new tenants at Domain Northside, a mixed-use development in Austin including retail, dining and entertainment. The newly announced tenants include: Hat Creek Burger Co., Golden Bones, Engel & Völkers, 24 Diner, Orangetheory Fitness, Jose Luis Salon, Sway, Velvet Taco, Erin Condren, Nordstrom, RH Austin The Gallery at The Domain, Free People, Planet Blue, Peloton, Warby Parker, Suitsupply, Bonobos, Filson, It’Sugar, NYX, Lush, Scout & Molly’s Boutique, Life is Good, Doc B’s, Kittsona, W3ll People, Teddies for Bettys, Kelly Wynne, Everything But Water, Pirch, AT&T, Will Leather Goods, Marine Layer, Mitchell Gold + Bob Williams, The Frye Co., Stag, Sprinkles, Paul Martin’s Austin Grill, Guideboat, Toulouse, Taverna, Cyclone Anaya’s, Culinary Dropout, Flower Child, Sur La Table, SoulCycle, Kiehl’s, diptyque, Francesca’s, Sephora, Sugarfina, Marmi, Hanna Andersson, Evereve, Alex and Ani, Frost Gelato, Eliza Page, The Body Shop, Paper Source, Saint Bernard, Bank SNB and Upscale Lashes. The developers will host grand openings at Domain Northside on Friday, Sept. 30 and Saturday, Oct. 1.
CARROLLTON, TEXAS — Colliers International has arranged the sale of The French Quarter, an office complex in Carrollton. Greg Hoffman, Michael Carmichael, Chris Lipscomb and Lindsay Wolcott of Colliers represented the unnamed seller in the transaction, while Justin Owen of Dominus Commercial represented the buyer. The French Quarter totals 46,444 square feet and is located at 3610-3630 N. Josey Lane. The property consists of five single-story and two-story office buildings located near President George Bush Turnpike, I-35 and Highway 121.
DALLAS — Consolidated-Tomoka Land Co. has acquired 0.91 acres at 2501 N. Field St. in Dallas for $14.9 million. The property is leased to a 10,340-square-foot CVS Pharmacy for an initial term of 25 years and guaranteed by CVS Health Corp. The property is located near downtown Dallas one block from the American Airlines Center. The zoning of the property allows for potential future development of approximately 400,000 square feet of commercial space. This acquisition was part of a 1031 tax-deferred exchange.