EDMOND, OKLA. — CBRE has brokered the sale of Tealridge Assisted Living and Memory Care, a 52,283-square-foot seniors housing facility in Edmond. MOC Assisted Living sold the property for $6.8 million to a nonprofit private investor that is looking to establish a presence in the Oklahoma market. Tealridge Assisted Living and Memory Care is located at 2200 N.W. 140th St. at the intersection of East Memorial Road and North Eastern Avenue. The facility was constructed in 2010 and includes 65 units. Daniel Morris of CBRE’s Oklahoma City office represented the buyer in the transaction.
HOUSTON — Marcus & Millichap has negotiated the sale of Inwood Forest Shopping Center, a 77,553-square-foot, Foodarama-anchored retail property at the northeast corner of Antoine and Victory drives in Houston. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, Brixmor Property Group. Goldstein also represented the buyer, a limited liability company. The grocery-anchored shopping center was built in 1985 and is 96 percent leased to tenants including UT Physicians Clinic, City Gear and Wingstop. Inwood Forest Shopping Center is located at 7320-7372 Antoine Drive.
CARROLLTON, TEXAS — The Vitorino Group has arranged the sale of Christian Brothers Automotive, a 4,790-square-foot auto mechanic located in Carrollton. James Mangum of The Vitorino Group marketed the property on behalf of the seller, a private investor from Colorado. The buyer, a Texas-based investor, was represented by an outside broker and bought the asset to fulfill a 1031 tax-deferred exchange.
The booming land market in north Texas reflects a convergence of economic and demographic trends resulting in a dramatic expansion of residential communities, new mixed-use developments and the transformation of retail centers across the region. The result is higher land values, shifting land uses and developers, planners and designers adapting to the evolving lifestyles of a new generation of workers. Demand for well-located land parcels across multiple property types is reaping handsome returns for landowners. The land market in Dallas/Fort Worth is experiencing strong transaction volume and record prices due to a range of factors. Developers are responding to strong housing demand by building new residential communities that are accessible to Dallas/Fort Worth employment centers. Multifamily construction continues as some 360 people move into the region daily, many not ready for home ownership. New mixed-use developments are catering to a steady stream of corporations relocating to the area and seeking work settings that provide live/work/eat/play environments. Neighborhood grocery stores and restaurants are multiplying to support growing demand, while regional malls are being repurposed as spending habits shift. These trends have played a major role in the growth of urban centers like Dallas’ central business district, Uptown Dallas and Fort Worth’s …
SAN ANTONIO — On behalf of Seavest Healthcare Properties, Trammell Crow Co. has begun construction on a medical office building located at 1434 E. Sonterra Blvd. in San Antonio. Seavest Healthcare Properties will own the new three-story, 60,000-square-foot Children’s Hospital of San Antonio Health Pavilion at Stone Oak. The medical office building will focus on pediatric services. CHRISTUS Santa Rosa will lease 88 percent of the property, with the remaining space leased to MedCare Associates, a primary healthcare group. Construction has already begun and is scheduled for completion in fall 2017. The development team includes general contractor Joeris, architect MKS Associates, Cooper-Lochte Landscape Architecture, Pape Dawson, RGM Engineering and Alpha Consulting Engineers.
TULSA, OKLA. — CBRE has arranged the sale of BOK Place at Southern Hills, a 126,656-square-foot, Class A office building in Tulsa. The eight-story asset was 89 percent occupied at closing. Mary Martin of CBRE’s Tulsa office represented the seller, Allegiancy Houston LLC, in the transaction. The building is located at 5727 S. Lewis Ave. near the intersection of East 61st Street and South Lewis Avenue with close proximity to Southern Hills Country Club. Building amenities include high-speed internet, on-site banking with drive thru lanes and an on-site deli. Major tenants include Bank of Oklahoma and The Home Depot.
CARROLLTON, TEXAS — Shopoff Realty Investments, a manager of value-add real estate investments, has acquired a 36,000-square-foot retail center in the Dallas suburb of Carrollton for $8.1 million. The property, Hebron Heights, is located at 1012 W. Hebron Parkway in the north Carrollton submarket. Anchored by Pet Supplies Plus, the retail center is 100 percent leased to national, regional and local tenants. Hebron Heights was constructed in 2004 on 8 acres located less than one mile east of the Sam Rayburn Tollway.
DALLAS — AmeriPac Inc., a contract packaging and fulfillment company, has leased a 119,717-square-foot industrial facility at 1000 N. 28th Ave. in Dallas. The property is a part of the company’s expansion and will be used in conjunction with its current facility, which is located directly across the street. The new facility, located at DFW International Airport, features 10,709 square feet of office space, 30-foot clear heights and 22 dock-high loading doors. The space will also be 100 percent climate controlled. The Cushman & Wakefield team of Blake Anderson and David Eseke negotiated the lease on behalf of AmeriPac.
FLOWER MOUND, TEXAS — JLL has negotiated a 21,803-square-foot office lease for IntelliCentrics Inc. a healthcare network. The company’s new U.S. headquarters will be at Lakeside Commerce Center, located at 1420 Lakeside Parkway in Flower Mound. JLL’s Steve Thelen and Doug Carignan negotiated the lease on behalf of the tenant. Blake Kendrick of Stream Realty Partners represented the landlord, Exeter Lakeside I LP.
ARLINGTON, TEXAS — Q Hotels plans to develop and operate a $39.5 million, dual-branded Marriott hotel property at 3800 S. Collins St. in Arlington. Construction on the combined SpringHill Suites and TownePlace Suites will begin in December and end in summer 2018. The 230-room hotel will include 130 suites for traditional hotel guests and 100 extended-stay suites. Outdoor amenities will include an event lawn and amphitheater-style entertaining space. Indoor amenities will include a gym, steam room, dry sauna and restaurants.