HOUSTON — DCT Industrial Trust plans to develop a 222,000-square-foot, Class A distribution facility for logistics firm DHL Supply Chain USA near Port Houston. The publicly traded REIT recently purchased a 13.2-acre site located next to two DCT-owned industrial properties along State Highway 225, both of which are occupied by DHL, for the development. Angler Construction will begin building the facility during the second quarter.
CARROLLTON, TEXAS — HLC Equity, a Pennsylvania-based investment and management firm, has purchased Toscana Apartments, a 192-unit multifamily community in the Dallas-Fort Worth metro of Carrollton, for roughly $13.2 million. Located at 17910 Kelly Blvd., the Class B property features a business center, 24-hour fitness center and resort-style pool. The property was 96 percent occupied at the time of sale.
CORPUS CHRISTI, TEXAS — JLL has brokered the sale of Sunchase Apartments, a 224-unit, garden-style apartment complex located at 5445 S. Alameda St. in Corpus Christi. Raybec Alameda LLC purchased the property, which features a pool, fitness center and an on-site laundry facility. Scott LaMontagne, Moses Siller and Zar Haro of JLL represented the seller, F1S Sunchase Associates LLC in the transaction. The sale includes the 9.2 acres on which the complex is situated.
LAREDO, TEXAS — CBL & Associates Properties Inc. and Horizon Group Properties have completed the development of The Outlet Shoppes at Laredo, a 358,000-square-foot retail center located at 1600 Water St. in Laredo. More than 50 retailers, including Nike, Puma, Michael Kors, Brooks Brothers and Sunglass Hut, have secured leases at the center. The grand opening was held on April 5.
PLANO, TEXAS — Marcus & Millichap has arranged the sale of 18th Street Office, an office property situated on 2.5 acres at 651-671 E. 18th St. in Plano. Built in 1972, the property consists of three suites totaling 28,363 square feet. Ron Hebert and Joe Santelli of Marcus & Millichap represented the seller in the transaction. Both the buyer and the seller were private investors.
AUSTIN, TEXAS — JLL has negotiated the sale of Oak Creek Plaza, a two-story, 50,502-square-foot office building located at 3107 Oak Creek Drive on Austin’s north side. The sale includes the 7.6 acres on which the property is situated. Jeff Coddington and Kevin Kimbrough of JLL represented the seller, Toronto-based Eastbourne Investments. TMF Health Quality, an Austin-based healthcare consulting firm, purchased the property.
DALLAS — EDGE Realty Capital Markets has brokered the sale of Westridge Apartments, a 124-unit multifamily property located at 2107 W. Ledbetter Drive on Dallas’ south side. Mart Martindale and John Mungioli of EDGE represented the seller, Edgewood Holdings LLC, in the transaction. Jon Krebbs of SVN represented the undisclosed buyer.
HOUSTON — Baker Katz has arranged a 4,243-square-foot lease on behalf of Newk’s Eatery, a Mississippi-based fast casual restaurant chain, in Sugar Land, a southwestern suburb of Houston. The new restaurant, which is scheduled to open in early May, will be situated within Market at Town Center, a retail center located at the intersection of Lexington Boulevard and State Highway 6. Ben Brown of Baker Katz and Jennifer Watson of Newmark Grubb Knight Frank represented Newk’s Eatery in the lease transaction.
HOUSTON — Stonelake Capital Partners has finalized plans for Phase III of Park Place River Oaks, an 835,000-square-foot, mixed-use development situated on 11.5 acres along Westheimer Road in the River Oaks submarket of Houston. Phase III will consist of two four-story buildings, including 105,000 square feet of retail space and 105,000 square feet of office space. Phase I of the project consisted of an eight-story, 344-unit multifamily building, which is now 90 percent leased. Phase II consisted of a 17-story, 297-unit high-rise, completion of which is slated for this 2017.
MADISONVILLE, TEXAS — Marcus & Millichap has negotiated the sale of Corral Plaza, a 12,169-square-foot retail property situated on 2.6 acres at 3303 E. Main St. in Madisonville, approximately halfway between Houston and Dallas. Philip Levy and Chris Gainey of Marcus & Millichap represented the seller, a private investor, in the transaction, and procured the buyer, a limited liability company. At the time of sale, the center was 100 percent leased to tenants such as Subway, Shipley’s Donuts and Electric Vape.