Texas

Marcus & Millichap Brokers Sale of Self-Storage Property in Metro Tulsa

by Taylor Williams March 6, 2017

BIXBY, OKLA — Marcus & Millichap has closed the sale of Self Storage Depot, a 76,050-square-foot self-storage facility in Bixby, a city about 20 miles south of Tulsa. Located at 13455 S. Memorial Drive near U.S. Route 64, the Class A property was valued at more than $100 per square foot at the time of sale. Trey Hammond and Michael Mele of Marcus & Millichap procured the buyer, a private investor, and represented the seller, a limited liability company, in conjunction with the firm’s Oklahoma broker of record, Tom Mann.

March 6, 2017

Consolidated-Tomoka Acquires Retail Center in Fort Worth for $15M

by Taylor Williams March 3, 2017

FORT WORTH, TEXAS — Consolidated-Tomoka Land Co., a Florida-based real estate investment firm, has purchased WestCliff Center, a 136,185-square-foot shopping center located at 3563 Alton Road in Fort Worth, from RD Management for roughly $15 million. Situated on 10.3 acres and located less than a mile from Texas Christian University, the property is divided into three contiguous parcels, the asset encompasses four single-tenant properties and one multi-tenant property. The shopping center is currently 96 percent leased to tenants such as Albertsons, which occupies the anchoring 39,000-square-foot property; Cook Children’s Health Foundation, which leases the second largest property, a 38,000-square-foot office building; and Dollar General and Ace Hardware, which share the 55,000-square-foot, multi-tenant building. DuWest Realty represented the buyer in the transaction.

March 3, 2017

Multifamily Student Housing Texas

Preiss Purchases Student Housing Property Near Sam Houston State University

by Taylor Williams March 3, 2017

HUNTSVILLE. TEXAS — The Preiss Co., a Raleigh, N.C.-based firm specializing in student housing development, has acquired Gateway at Huntsville, a 160-unit complex located at 5050 Sam Houston Ave. in Huntsville, roughly an hour north of Houston. Situated on a 12-acre site about a mile from Sam Houston State University, the property consists of six four-story buildings comprising 416 bedrooms and bathrooms. In addition to a swimming pool, grilling station and basketball and volleyball courts, the complex also offers a complimentary shuttle to and from campus.

March 3, 2017

Retail Texas

EDGE Capital Markets Negotiates Sale of Retail Center in Metro Houston

by Taylor Williams March 3, 2017

SPRING, TEXAS — EDGE Capital Markets has brokered the sale of West Rayford Retail Center, an 18,512-square-foot, multi-tenant retail asset in Spring, a northern suburb of Houston. Located at 8633 W. Rayford Road, the property is currently leased to tenants such as Sherwin Williams and Lush & Co. Spa. Josh Jacobs and Burdette Huffman of EDGE represented the seller, LSP Rayford LLC, while Sumner Hollingsworth of Hollingsworth & Associates represented the undisclosed buyer.

March 3, 2017

Office Texas

Colliers Arranges Sale of 179,184 SF Office Complex in North Dallas

by Taylor Williams March 3, 2017

DALLAS — Colliers International Group Inc. has closed the sale of Meadow Central, a 179,184-square-foot office complex located at 10260 and 10300 N. Central Expressway in north Dallas. The property was 91 percent occupied at the time of sale. Creighton Stark and Chris Boyd of Colliers represented the sellers, Sunwest Real Estate Group and Libitzky Property Cos., which acquired the property in 2010. The representative of the buyer, Ascent Real Estate Advisors LLC, was not disclosed.

March 3, 2017

Hospitality Texas

CBRE Brokers Sale of Hotel in Texas City, Texas

by Taylor Williams March 3, 2017

TEXAS CITY, TEXAS — CBRE Hotels has arranged the sale of a Holiday Inn Express & Suites, located at 2440 Gulf Freeway in Texas City, a submarket of Houston. Peet Hotels Inc. sold the 70-room property, just off Interstate 45 between Houston and Galveston, to Texas City Hospitality LLC for an undisclosed price. Eric Guerrero, Michael Yu, Rahul Bijlani and Dennis Drake of CBRE represented both the buyer and seller in the transaction.

March 3, 2017

Multifamily Texas

Olympus, Artemis Acquire Three Multifamily Properties in Metro Fort Worth

by Taylor Williams March 2, 2017

KELLER, TEXAS — Olympus Property and its joint venture partner, Artemis Real Estate Partners, have acquired three multifamily properties consisting of 679 units in the Dallas-Fort Worth suburb of Keller. Stoneleigh Cos. originally developed the three Class A properties, which will be individually rebranded as Olympus Town Center, Olympus Stone Glen and Olympus Waterford.

March 2, 2017

Retail Texas

HSM Equity Partners Purchases Retail Tract in McKinney, Texas

by Taylor Williams March 2, 2017

MCKINNEY, TEXAS — HSM Equity Partners, the commercial development branch of Henry S. Miller Cos., has acquired a three-acre retail tract at the corner of McKinney Ranch Parkway and Ridge Road in McKinney, about 40 miles north of Dallas. The development plan for the tract includes a 21,000-square-foot retail center, set to begin construction in the second quarter of 2017. Joe Benton of Benton Commercial Real Estate Services represented the seller, while Lynn Dowdle of Dowdle Real Estate represented the buyer. Both parties requested confidentiality.

March 2, 2017

Retail Texas

Marcus & Millichap Arranges Sale of Retail Asset in Elkhart, Texas

by Taylor Williams March 2, 2017

ELKHART, TEXAS — Marcus & Millichap has brokered the sale of a 9,180-square-foot retail property in Elkhart, a city roughly halfway between Houston and Dallas. Family Dollar is the sole tenant of the property, located at 212 N. U.S. Highway 287, and recently extended the original 10-year, double-net lease until 2022. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, an undisclosed limited liability company. Other terms of the sale were not released.

March 2, 2017

Office Texas

Colvill Closes Two Leases at 811 Louisiana Office Tower in Houston’s CBD

by Taylor Williams March 2, 2017

HOUSTON — Colvill Office Properties has finalized four new leases at 811 Louisiana, a 577,735-square-foot office tower in Houston’s Central Business District. Among the tenants represented in the newly secured leases are global advisory firm Willis Towers Watson, which leased a 19,222-square-foot space, and law firm McFarland PLLC, which leased a 6,150-square-foot space. Paula Bruns, Damon Thames and Chip Colvill of Colvill represented the landlord, Busycon Properties LLC, in both deals. Jeff Cairns, Bob Denney and Brandon Clarke of CBRE represented Willis Towers Watson. Kevin Kushner and William Padon of CBRE represented McFarland.

March 2, 2017

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