DALLAS — Lee & Associates has negotiated a 69,047-square-foot industrial lease at 11025-11035 Switzer Ave. in Dallas. Brett Lewis, Ken Wesson and George Tanghongs of Lee & Associates represented the landlord, Colony Northstar, in the lease negotiations. The name and representative of the tenant were not disclosed.
DALLAS — Churchill Capital Co. has arranged a $42.8 million loan for the refinancing of Browning Place at Mercer Crossing, a three-building, 442,639-square-foot office property in Dallas. Located at 1603, 1605 and 1607 LBJ Freeway, the property includes two interconnected eight-story towers, a two-story annex building and a four-story parking deck. Duke Stone and Steve Forson of Churchill arranged the non-recourse, fixed-rate loan through JPMorgan Chase on behalf of the borrower, Transcontinental Realty Investors Inc.
FRISCO, TEXAS — A joint venture between Dallas Cowboys owner Jerry Jones, former Cowboys quarterback Roger Staubach and Dallas developer Robert Shaw has announced plans for a 17-story apartment complex within The Star in Frisco. The property will feature 160 units with an average size of 1,200 square feet per unit. Construction is scheduled to begin in January 2018, with move-ins scheduled for the first quarter of 2019. Columbus Realty will develop the project.
PLANO, TEXAS — SRS Investment Properties Group has brokered the $24.5 million sale of Creekwalk Village, a 174,484-square-foot shopping center in Plano. Chris Tramontano and John Redfield of SRS represented both the undisclosed seller and the buyer, a private investor based on the East Coast, in the transaction. The center is currently leased to tenants such as Bed Bath & Beyond, Old Navy and Barnes & Noble.
LEWISVILLE, TEXAS — Illinois-based ML Realty Partners will develop a 121,000-square-foot industrial facility in Lewisville. Branded 121 Riverview Crossing, the property will be situated along Business Highway 121 near both Legacy West in Plano and the $5 Billion Mile in Frisco. The facility will be available for lease in spring 2018. Henry S. Miller will handle leasing activity.
KATY, TEXAS — Marcus & Millichap has arranged the sale of Star Plaza, a 19,053-square-foot retail property located at 5803 N. Fry Road in Katy. Gus Lagos and Alex Bouchard of Marcus & Millichap represented the seller and procured the buyer, neither of which was disclosed. The asset had a list price of roughly $2.9 million.
FORT WORTH, TEXAS — Dallas-based developer Hunt Southwest will open a 493,000-square-foot distribution center in Fort Worth for apparel wholesaler S&S Activewear. The center will be located at 35/820@Mercantile Center, a 657,000-square-foot, Class A warehouse facility in north Fort Worth. Slated to open by the end of the year, the project is expected to create roughly 300 new jobs in the metro. Building amenities include 36-foot clear heights, a seven-inch reinforced concrete slab, cross-dock configuration and a sprinkler system.
PROSPER, TEXAS — MQ Development Co. has received an $18.8 million construction loan for Shops at Prosper Trail, a retail center under construction in the North Texas city of Prosper. Kroger will anchor the 27.7-acre project, which is currently in its second stage of development. Todd McNeill of Metropolitan Capital Advisors Ltd. arranged the loan, which features 4.5 percent interest and a 70 percent loan-to-cost ratio.
SACHSE, TEXAS — Mustang Creek Estates will develop a $7.5 million assisted living and memory care facility in the Dallas-Fort Worth metro of Sachse. The 42,000-square-foot Mustang Creek Estates at Sachse is expected to open this fall and create as many as 50 new staffing jobs. The property will be Mustang Creek’s fifth seniors housing asset in the Dallas-Fort Worth area.
DALLAS — Weitzman has negotiated the sale of the Forest Theater retail block located at 1902-1920 Martin Luther King Jr. Blvd. in South Dallas. The block totals 81,221 square feet, including 31,114 square feet of retail space and the 14,565-square-foot Forest Theater, a landmark property that will be restored as part of the deal. David Zoller of Weitzman represented both the buyer and seller in the transaction. Both parties requested anonymity.
