FRISCO, TEXAS — Silver Oak Multifamily Capital LLC has broken ground on Emerson Court, the second phase of an apartment development located within Frisco Market Center. The 312-unit Emerson Court was designed to complement the first phase, the 410-unit Emerson at Frisco Market Center, which is 100 percent occupied. The properties are located at the northwest corner of the Dallas North Tollway and Main Street in Frisco. Emerson Court is a four-story building that will wrap around a five-story parking structure. The apartments will feature amenities including kitchens with stainless steel appliances and granite counter tops, a fitness center, two interior courtyards with an outdoor pool, fireplaces, barbecue and picnic areas. The property will have a mix of one-, two- and three-bedroom units with monthly rents ranging from $1,100 to $2,200 per month. Emerson Court’s project team includes CBG Building Co. as the general contractor and BGO Architects as the architect. Frisco Market Center, a 100-acre mixed-use development, has added 12 restaurants since 2014. Main Event Entertainment and LA Fitness anchor the $300 million development, which sits adjacent to Frisco Square. Chief Partners LP is Frisco Market Center’s capital partner, and Hermansen Land Development Inc. is the developer.
Texas
SEALY, TEXAS — Cushman & Wakefield of Texas Inc. has negotiated a 10-year lease of nearly 400,000 square feet within the former BAE manufacturing facility fronting I-10 just west of Sealy. The tenant is Valerus Field Solutions, a division of Montreal-based SNC-Lavalin, an engineering and construction firm. The Parker/Littman Team at Cushman & Wakefield of Texas represented the owner, Five Star Properties, and Kyle Kelley of Savills Studley and Jim Stark of CBRE acted as brokers for Valerus. The transaction is a consolidation of multiple SNC-LaFkellyvalin locations from across Texas and Louisiana and will employ up to 250 engineers, accountants, project managers, warehouse attendants and general laborers.
MARBLE FALLS, TEXAS — Marcus & Millichap has arranged the sale of Sana Vida Wellness, a 5,451-square foot net leased property located in Marble Falls. Geoff Ficke of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Sana Vida Wellness is a wellness spa and tea bar located at 507 FM 1431, just off US Route 281. Constructed in 2007, the building is situated on 0.6 acres. Upon closing, Sana Vida Wellness will enter into a 15-year triple-net sale-leaseback.
IRVING, TEXAS — Dougherty Mortgage LLC has secured a $1.7 million Fannie Mae loan for Stonehill Terrace Apartments, a 301-unit market rate multifamily apartment property located in Irving. Property features include a clubhouse, pool, playground and laundry facilities. Apartment amenities include a dishwasher, air conditioner, hardwood floors, large closets and a patio or balcony. Dougherty’s Minneapolis office arranged the 8.3-year loan with a 30-year amortization schedule for the borrower, Urban Stonehill Apartments LP.
SAN ANTONIO — CBRE has arranged the sale of Northwest Atrium, a three-story, 93,540-square-foot office building in San Antonio. Austin-based Kennedy Wilson purchased the asset from San Antonio-based NWA Limited Partnership for an undisclosed price. Carrie Caesar, Todd Mills and Hunter Mills of CBRE’s San Antonio office represented the seller. The property, located at 11550 W. Interstate Highway 10 in the northwest San Antonio submarket, is adjacent to University Park, a 3.2-million-square-foot master-planned business park. The asset was 89 percent occupied at closing to tenants including Civil Engineering Consultants, Benefit Management and NovaTel.
PASADENA, TEXAS — Colliers International represented John Harris Ventures LP in the sale of Fairmont Central Shopping Center, located at 4118 Fairmont Parkway in Pasadena. Marshall Clinkscales of Colliers represented John Harris Ventures. Bill Pyle with Edge Realty Capital Markets and Ray Orazani of Main Realty represented the buyer, Fairmont Central LLC. Bill Barnett with Charter Title Co. handled the closing.
SOUTHLAKE, TEXAS — Bright Realty has brokered the lease for a new Texas Rug Gallery in Southlake. The 6,082-square-foot retail space will be at Cornerstone Plaza on East Southlake Boulevard and Nolan Road. Mason Bakken and Britton Lankford of Bright Realty represented the landlord, BTR-8 Southlake LLC, in the lease transaction.
DALLAS — The Vitorino Group has brokered the sale of an Empire Petroleum gas station and convenience store in Grapevine. The single-tenant, net-leased asset is located on State Highway 121 just north of Dallas/Fort Worth International Airport. The Vitorino Group acted as an intermediary between a local Dallas owner and a private, Dallas-based REIT. Terms of the sale were not disclosed.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Flats at Olmos, a 76-unit multifamily property located at 103 Jackson Keller Road in San Antonio. Mike Moffitt of Marcus & Millichap’s Austin office represented the seller and secured the purchaser, a regional private entity that plans to complete light interior and exterior enhancements. Flats at Olmos is located near the Alamo Quarry, Northstar Mall and the Uptown/Tobin Hill entertainment district. The property’s amenities include picnic areas, two pools and a laundry facility.
DALLAS — CBRE Capital Markets’ Institutional Properties has arranged the sale of Dominion Plaza, a Class A office asset in north Dallas, to an undisclosed buyer. The property includes a 14-story office tower and a three-story office building spanning 318,695 square feet. The property also includes a four-level parking garage and surface parking. CBRE’s John Alvarado, Gary Carr, Eric Mackey and Robert Hill arranged the transaction on behalf of the seller, Dalfen America Corp. Dominion Plaza is 83.5 percent leased to tenants including Regus, Tenet Healthcare, Old American County Mutual, RoundPoint Mortgage and healthcare staffing firm ESS. On-site amenities at the property include a renovated fitness center, full-service deli, conference facility and outdoor courtyard.