HOUSTON — Marcus & Millichap has arranged the sale of a 9,180-square-foot, net leased Family Dollar located in Houston. Gus Lagos and Nik Kapetanakis of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. The unnamed buyer utilized a 1031 tax-deferred exchange. Family Dollar is located at 8303 Calhoun Road.
CARROLLTON, TEXAS — Lee & Associates has negotiated a lease transaction for a 25,000-square-foot industrial space located at 3400 Wiley Post Road in Carrollton. Nathan Denton of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Dallas Auto Sales. Greg Cannon of Colliers International represented the landlord, Futerfas Family LP.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of an office property in Austin. 2512 Partners LLC purchased Summit Point, a 24,000-square-foot building located at 2512 S. I-35, for an undisclosed price. Jason Steinberg and Matt Levin with ECR represented the seller.
AUSTIN, TEXAS — Austin-based Threshold Agency, along with Asset Campus Housing, Collegiate Development Group and Kayne Anderson, has won the 2016 Best Marketing and Lease-Up Program award from Student Housing Business, a publication covering the student housing industry. The award highlights the company’s work with TODD Student Living, which helped the community become one of the fastest lease-ups in the Columbia, Mo., market. In 2014, Houston-based Asset Campus Housing, along with Collegiate Development Group and Kayne Anderson Real Estate Advisors, hired Threshold to create a brand for their new development. The Threshold team proposed the TODD name after coming across the term “transit-oriented development,” or TOD, in their initial research. The term refers to mixed-use communities within walking distance of a transit station or key points of interest. As a result of the team’s efforts, TODD Student Living leased up in just two months, with a waiting list before many other properties in the market had even reached 50 percent.
HOUSTON — CityCentre Five is now open in Houston’s CityCentre district. The 192,357-square-foot, Class A office building features 8,216 square feet of ground-floor retail/restaurant space, as well as 690 parking spots. The pedestrian-oriented CityCentre district attracts nearly 15,000 visitors per day. Houston-based Kirksey Architecture and Munoz + Albin designed the 15-story building, which is located at 825 Town & Country Way. Linbeck served as the general contractor. Tenants already committed include Ascot Underwriting, Relevant Solutions and University Lands. Colvill Office Properties is overseeing leasing.
WACO, TEXAS — Allergan, a pharmaceutical company, has begun construction on a $200 million expansion of its Waco facility. The expansion will add 322,000 square feet of manufacturing space to the current facility, nearly doubling its current footprint. Once completed, the expansion is expected to add 100 full-time employees, with the potential for the expanded operations adding as many as 250 jobs as the facility reaches full utilization. New positions that will be added include chemists, microbiologists, process engineers and production and maintenance technicians. The expansion will add a new raw material dispensary, an automated bulk formulation suite, 10 new production lines and warehousing space. Upon completion, the Waco facility will be capable of producing more than 40 different product formulations and will increase its production capacity by more than 50 percent. The construction, commissioning and validation of the facility expansion and production processes are expected to be completed by 2020. Allergan’s Waco facility is the company’s flagship manufacturing facility for its leading eye care products, including Restasis, Lumigan, Combigan, Refresh Plus, Refresh Tears and Latisse.
ALLEN, TEXAS — Yeager Office Suites of Allen LLC has purchased a 3.3-acre tract of land in the Dallas suburb of Allen from T&C Investment Venture LP. The property is located on the west side of Watters Road directly across from the newly announced Allen Convention Center at Watters Creek. Yeager Development plans to break ground in July on the two-story, 35,070-square-foot Yeager Office Suites building. Mike Barr of Barr Cos. represented the buyer, and Jane Jan of Jan’s Realty represented the seller. The Yeager Office Suites building will feature 145 office suites, five conference rooms, casual meeting areas, a lobby and reception area and a café. Yeager will develop, construct, manage and lease the project.
HOUSTON — NAI Partners has arranged the sale of a 22,415-square-foot, freestanding industrial manufacturing facility located on 2.8 acres at 4740 Eastpark Drive in Houston. Darren O’Conor of NAI Partners represented the seller, BV Oilfield Service & Supply, in the negotiations, while Jake Wilkinson of NAI Partners represented the buyer, Power Supply Seals.
HOUSTON — Clint Duncan has joined CBRE as senior vice president to lead its multifamily investment property sales team in Houston and the Gulf Coast markets. Duncan has returned to CBRE after a brief stint at Berkadia. He started his real estate career as a sales advisor at Hendricks & Partners’ Houston office. Duncan has consistently been a top producer at both Transwestern and most recently CBRE, where he either originated or was a part of more than $1.7 billion in Class A and B multifamily sales over a two-year period.
IRVING, TEXAS — National real estate developer Jackson-Shaw, in partnership with Clarion Partners, will develop Parc GSW, a Class A industrial park in Irving. The 50-acre, 682,491-square-foot development is situated within Dallas/Fort Worth’s Great Southwest Industrial District (GSW). The two-building development is designed to cater to a wide variety of users ranging in size from 100,000 to 682,491 square feet. The industrial park is slated for completion in the fourth quarter of 2016. Parc GSW will be located near DFW International Airport and provide access to Highway 161. Brett Owens, John Brewer and Ben Phillips with Transwestern will lease the property to industrial users. Building A will span 450,800 square feet with 36-foot clear heights, 255 parking spaces, 96 dock-high doors, a 185-foot truck court, two drive-in doors, an ESFR sprinkler system and cross-dock configuration. Building B will span 232,500 square feet with 32-foot clear heights, 109 parking spaces, 38 dock-high doors, two drive-in doors, an ESFR sprinkler system and front-load configuration.