THE WOODLANDS, TEXAS — The Signorelli Co. has signed Academy Sports + Outdoors as the third anchor for Valley Ranch Town Center, a retail district inside the master-planned community of Valley Ranch. Academy’s 62,943-square-foot location will open during the third quarter. The 1,400-acre community is located at the intersection of US 59 North and the Grand Parkway in The Woodlands, just north of Kingwood. Also in negotiations are other big box retailers and smaller shops, a selection of restaurants, a multi-attraction cinema and a 10,000-seat amphitheater.
AZLE, TEXAS — Old Capital has provided a $1.7 million bridge loan for the purchase of Shady Creek Apartments, a 54-unit complex in Azle. A local ownership group bought the asset, which is located in a secondary submarket. Renovations are planned to increase rental rates.
DALLAS — All Risks Ltd. has leased 10,168 square feet at 3 Park Central located at 12700 Park Central Drive in Dallas. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, McKnight Realty Partners, in the extension of 5,110 square feet and expansion of 5,058 square feet for the wholesale specialty insurance broker.
IRVING, TEXAS — SMB Suite has leased 5,000 square feet of office space at One Panorama Center, located in Irving at 7701 Las Colinas Ridge. SMB Suite is a software developer providing cloud-based solutions. Todd Noonan and Tyler Maner of Stream Realty represented the tenant, while Nathan Durham and Duane Henley of Transwestern represented the landlord, Regent Properties, in the transaction.
OKLAHOMA CITY — Marcus & Millichap has arranged the sale of Mid America Business Park, a three-story, 84,373-square-foot office building located in Oklahoma City. Cody Payne of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Fort Worth-based private partnership. The buyer is a private investor utilizing a 1031 tax-deferred exchange. Ron Hebert of Marcus & Millichap’s Dallas office partnered with Payne on the sale. Tom Mann of the firm’s Tulsa office is Marcus & Millichap’s broker of record in Oklahoma. Built in 2002, the property is located at 7919 Mid America Blvd., a few miles from downtown Oklahoma City. The Veterans Administration and CNI Administration Services anchor the property and account for 65 percent of the gross leasable area. Other tenants include AAR Services, Deaconess Home Care and Edward Jones.
ARLINGTON, TEXAS — General Assembly Inc. has leased a single-tenant building in Dallas’ Great Southwest Industrial District in a move that will keep its operations in Arlington and get the entire business under one roof. General Assembly will relocate its operations to 1011 Oakmead Drive. The 6,615-square-foot office/warehouse space, located near I-30, more than doubles the amount of warehouse space for the professional merchandising services firm, which supports the retail industry with locations in 19 states and the District of Columbia. The company assembles high-end consumer products. The headquarters team is moving from the Vandergriff Town Center at 200 N. Mesquite St. and warehouse workers are relocating from 320 Dixon Lane. The new location has two loading docks, grade-level doors and enough parking for the entire workforce. A local investor, who was represented by Jim Hazard of E. Smith Realty Partners in the lease deal, owns the new location.
DALLAS — Lee & Associates has negotiated a lease for 103,283 square feet of industrial space located at 1000 N. 28th Ave. in Dallas. Tom Walrich, Corbin Blount and Reed Parker of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Curt Manufacturing LLC, in the transaction. Steve Trese and Wilson Brown of CBRE represented the landlord, Clarion Partners.
PLANO, TEXAS — Citadel Partners LLC has represented Spirent Communications Inc. in a 25,512-square-foot office lease at 800 Klein Road in Plano. Scott Jessen, Scott Morse and Andy Goldston of Citadel Partners represented the tenant, while Joe Whitmer of Transwestern represented the landlord, Liberty Property LP.
FARMERS BRANCH, TEXAS — Old Capital has provided a $7.5 million loan for the purchase and renovation of Villa Creek Apartments, a 161-unit complex in Farmers Branch. A local ownership group purchased the asset, which is located near LBJ Freeway, and plans to make $1.6 million in renovations. Old Capital provided the non-recourse bridge loan with a 30-year amortization schedule.
FORT WORTH, TEXAS — The Woodmont Co., in partnership with AIL Investment LP, has received tax incentives for the proposed Outlets at Alliance project from the city of Fort Worth. The Fort Worth City Council has voted 7-1 to approve a $20 million economic incentive for The Outlets at Alliance, a Hillwood Properties entity. The 330,000-square-foot shopping mall is planned for the east side of I-35 in north Fort Worth. The incentive is a grant of 85 percent of the city’s 1 percent sales tax if the project reaches $100 million in investment.