HOUSTON — Marcus & Millichap brokered the sale of Ponderosa Shopping Center, a retail property located at 16300 Kuykendahl Road in Houston. An individual/personal trust sold the 50,937-square-foot property for an undisclosed price. At the time of sale, the property, which was built in 1983, was 61 percent leased. Jerry Goldstein of Marcus & Millichap represented the seller and buyer, a limited liability company, in the deal.
HOUSTON — Buchanan Street Partners has acquired Sam Houston Crossing II, an office building located at 10344 Sam Houston Parkway Drive in Houston. Duke Realty sold the 160,000-square-foot building for an undisclosed price. Forum Energy Technologies, PEMEX and First American Title Co. occupy the three-story office building. Jared Chua of CBRE represented the seller, while Buchanan Street was self-represented in the transaction.
BROWNSVILLE, WESLACO, HARLINGEN AND EDINBURG, TEXAS — KeyBank Real Estate Capital has provided a total of $84.7 million in HUD financing for a six-property seniors housing portfolio located across Texas. Totaling 722 units, the portfolio includes Brownsville Nursing and Rehabilitation and Ebony Lake Nursing and Rehabilitation in Brownsville; Weslaco Nursing and Rehabilitation in Weslaco; Harlingen Nursing and Rehabilitation in Harlingen; and Edinburg Nursing and Rehabilitation and Windsor Arbor View in Edinburg. John Randolph of Key’s Commercial Mortgage Group arranged the financing through the HUD 232/223(f) mortgage insurance program for the undisclosed borrower. Loan proceeds were used to refinance existing debt.
WILMER, TEXAS — Medline Industries has opened an 800,000-square-foot distribution center in Wilmer, a suburb of Dallas. The $59 million facility is located at Medline Drive and Interstate 45 within Sunridge Business Center. The facility currently employs 55 people. Medline is a manufacturer and distributor of medical products.
DALLAS — Marcus & Millichap has arranged the sale of Reiger Place, an apartment building located at 4515 Reiger Ave. in Dallas. An undisclosed partnership acquired the 16-unit property for an undisclosed price. Constructed in 1955, the property offers one-bedroom/one-bath, 725-square-foot units. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, a limited liability company, while Fluellen, Hoover and Sean Scott, also of Marcus & Millichap, procured the buyer in the deal.
HOUSTON — Cypressbrook Co. has arranged the lease of industrial space at Prologis Pine Forest, an industrial park located at 575 W. 38th St. in Houston. SRG Ventures, a custom furniture maker, will occupy 40,352 square feet of space at the development. John Hornbuckle and Joyce Sterling of Cypressbrook Co. represented the tenant, while Beau Kaleel and Allison Hall of Cushman & Wakefield represented the landlord, PrologisWN2 LLC, in the transaction.
DALLAS — Colliers International has arranged the lease of office space at Rosewood Court, an office building located at 2101 Cedar Springs Road in Dallas’ Uptown district. CyrusOne LLC, a data center solutions and colocation services provider, will relocate its corporate headquarters to 30,137 square feet at the property. David Wetherington, Tyler Howarth and Chelsea Story of Colliers International represented the tenant, while Mike Wyatt and Travis Boothe of Cushman & Wakefield represented the undisclosed landlord in the deal.
ALLEN, TEXAS — Vestar has acquired Twin Creeks Marketplace, a grocery-anchored neighborhood retail center located at 1265 W. Exchange Parkway in Allen, a suburb of Dallas, for an undisclosed price. Sprouts Farmers Market, Verizon Wireless, Starbucks Coffee, Advancial Credit Union, Luxe Nails, Studio Smiles and ATI Physical Therapy occupy the 43,134-square-foot property, which was developed in 2016. Brandon Beeson of EDGE Capital Markets represented the seller, StreetLevel Investments, in the deal. Vestar operates more than 26 million square feet of premium retail space throughout the Western United States.
AUSTIN — Austin-based Aspen Heights Partners has completed the sale of Rise on 8th, a 22-story apartment building located at 805 Nueces St. in downtown Austin. An undisclosed buyer acquired the 200-unit property, which features a conference room, TV lounge and technology/coffee bar on the first floor. The 10th floor features an outdoor fire pit, outdoor grills, a swimming pool and an indoor lounge. The 22n d floor features a 2,000-square-foot fitness center with free weights and cardio equipment. The buyer intends to announce the details of the property to the market later this year. The acquisition price was not released.
AMARILLO, TEXAS — PinPoint Senior Living and LifeWell Senior Living LLC have started construction of The Legacy at Town Square, an 86-unit independent living, assisted living and memory care community in Amarillo. The companies plan to complete the project in late fall 2017. PinPoint is a Houston-based seniors housing developer with 14 communities open or in development. LifeWell is a Houston-based seniors housing operator with nine communities open or in development in Texas, Florida and New Mexico.
