DALLAS — Marcus & Millichap has arranged the sale of Timberbrook Apartments, a 70-unit apartment property located in Dallas. John Barker and Daniel Burton of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Barker also secured the buyer, an individual/personal trust. The 69,745-square-foot property sits on 3.1 acres at 2468 Laughlin Drive and consists of eight, two-story brick buildings featuring pitched roofs.
HOUSTON — Restaurants Nobu and Fig & Olive will open at The Galleria in Houston. The property, which is owned by Simon Property Group, includes more than 75 retail stores and restaurants. Nobu, in a transaction that was brokered by RKF, will open its first location in Houston and second in Texas at The Galleria in fall 2017. The restaurant will serve Peruvian-Japanese fusion cuisine in a 10,000-square-foot space formerly occupied by Saks Fifth Avenue. New York-based Fig & Olive is a French-style restaurant that will also open in fall 2017. It will be the brand’s first location in Texas and the lease was also brokered by RKF. Fig & Olive will occupy more than 7,000 square feet.
PLANO, TEXAS — Daiso Japan, a retail store known for selling items for $1.50, has scheduled a grand opening celebration weekend for its Plano store on Friday and Saturday, Sept. 23-24. The Plano Daiso store is located at 101 W. Spring Creek Parkway, Suite 731. Daiso operates 3,300 stores worldwide with a total of 44 stores in the United States, and plans to open 20 stores throughout Texas. The company’s first Texas location opened last summer in the Dallas suburb of Carrollton.
FRISCO, TEXAS — NewQuest Properties has acquired land to develop a retail center in Frisco. Construction will begin on the development, which will be known as Frisco Ranch, in October. The 110,000-square-foot center will be situated on nine acres just northeast of the intersection of Preston Road and Warren Parkway. The site was acquired through direct negotiations between the seller, Lebanon Joint Venture, and Houston-based NewQuest Properties, which was represented by Heather Nguyen and John Nguyen. Three anchor tenants have signed on for the development. The tenants are: 99 Ranch Market, which has preleased 44,875 square feet; Daiso Japan, which has leased 10,000 square feet; and 85°C Bakery Cafe, which has leased 3,000 square feet. The same trio of retailers also anchors NewQuest’s Carrollton Town Center, a similar retail center located in Carrollton. Callaway Architecture of Dallas is the architect for Frisco Ranch, which is expected to open in summer 2017.
UNIVERSAL CITY, TEXAS — Marcus & Millichap has arranged the sale of Storage & Moving Logistics, a 34,813-square-foot self-storage facility located in the San Antonio suburb of Universal City. Brandon Karr and Danny Cunningham of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr and Cunningham also secured the buyer, a local investor. Storage & Moving Logistics is located at 115 Villa Drive. The property is situated on 3.8 acres and features a newly renovated on-site manager’s residence, perimeter fencing and lighting, keypad gated entry and 24-hour video surveillance. The property is comprised of 218 drive-up units and 90 uncovered parking spaces.
HOUSTON — Jason Whittington of NAI Partners has represented Houston Engineering & Scientific Society Inc. (HESS) in renewing a 21,466-square-foot special events and meeting facility lease in Houston. HESS is the only occupant in the two-level, freestanding building located at 5430 Westheimer Road. HESS moved into the property in 1996. Henry Hagendorf and Dean Wilkens of Tanglewood Property Group represented the landlord, Franklin Post Oak Ltd.
TERRELL, TEXAS — Lee & Associates has negotiated a 19,000-square-foot industrial lease at 9752 County Road 310 in Terrell. Brett Lewis of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Axus Paints, in the transaction.
DALLAS — Snappy Salads, a Dallas-based salad restaurant concept, has signed a lease at 717 Harwood St. in downtown Dallas. The restaurant will open at the corner of Harwood and San Jacinto streets, where it will open its first downtown location on the ground floor of the newly renovated 717 Harwood tower.
BARTLESVILLE, OKLA. — GBT Realty Corp. has acquired 15 acres for a $20 million, two-phase retail development in Bartlesville, roughly 45 miles north of Tulsa. The property, which will be known as Silver Lake Village, is under construction with the first stores expected to open in fall 2017. The site was acquired on Sept. 6 for $2.1 million. The 85,000-square-foot Phase I of Silver Lake Village will feature retailers including Ulta Beauty, Rack Room Shoes, Petco, Ross Dress for Less, TJ Maxx and Maurices. Only 6,000 square feet of shop space and three outparcels remain available for lease. GBT is negotiating with potential tenants to anchor the 10-acre Phase II immediately east of Phase I. Located less than one mile from Oklahoma State Route 75, the center provides visibility to U.S. Highway 60, which is the city’s major east-west commercial corridor.
HOUSTON — CBRE Hotels has arranged the sale of the Holiday Inn Houston Southwest-Sugar Land Area, a 207-room, full-service hotel in Houston. The property is located at 11160 Southwest Freeway and went through a major renovation in 2015. The property features more than 6,800 square feet of flexible meeting/banquet facilities. Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma of CBRE Hotels’ in Houston represented the seller, K&K Hotel Group, and the buyer, Prime Real Estate Group. Marc Sallette and Olga Lepow of CBRE Hotels’ debt and structured finance team arranged acquisition financing on behalf of the buyer.