HOUSTON — NAI Partners and Logan Brown Investment Real Estate have arranged the sale of 8700 Commerce Park Drive, a 78,000-square-foot, multi-tenant office property located in southwest Houston. Doug Pack of NAI Partners and Logan Brown of Logan Brown Investment Real Estate represented the seller, Los Angeles-based Khoshbin Co., in the sale of the property to an unnamed local investor.
SHERMAN, TEXAS — Pierson Retail Advisors has arranged the sale of Sherman Crossroads, a 37,088-square-foot shopping center located in Sherman. Pierson Retail Advisors represented the seller, T Sherman Crossing TX LLC, in the sale of the property to Dallas-based Tava Property LLC for an undisclosed price. The center was fully occupied at the time of sale by tenants including Anytime Fitness, Shogun Japanese Steakhouse, Jalapeno Tree and the Armed Forces Career Center.
TEMPLE, TEXAS — HFF has arranged financing for Chappell Creek Village, a 148-unit, garden-style apartment community in Temple. Cortney Cole and Scott Galloway of HFF worked on behalf of the borrower, Chappell Hill Equity III Ltd., to place the 10-year, 3.86 percent fixed-rate loan with a life insurance lender. Chappell Creek Village is situated on the north side of Ira Young Drive, and offers one-, two- and three-bedroom units in 12 two- and three-story apartment buildings totaling 147,220 rentable square feet. Community amenities include a swimming pool, fitness center, business center and on-site laundry facilities.
CORSICANA, TEXAS — Binswanger has arranged the sale of a 388,561-square-foot, single-story industrial property situated on 34 acres at 1901 S. U.S. Highway 287 in Corsicana. The property features two single-story industrial facilities with reinforced concrete floor, 37-foot ceiling heights, a combination of fluorescent and high pressure sodium lighting, a wet sprinkler system, 31 8-by-10 dock-high loading doors, one 25-by-16 grade-level door, and a BNSF rail line running along the northeastern border of the property. Holmes Davis of Binswanger represented the seller, Basic Sportswear Co., in the sale of the property to Polyguard Products Inc.
HOUSTON — Berkeley Land Co. has sold Briar Lake Village, a 36,607-square-foot, two-level retail center located in Houston’s Westchase District. The center, located at 10455 Briar Forest Drive, is 85 percent leased to 12 tenants including Palazzo’s Trattoria, Subway, Tiff’s Treats, Moderno, Newmark Homes, Advanced Orthodontics, Capital One Bank, Comerica Bank, Kolache Factory and Luchi & Joey’s. Rusty Tamlyn and Ryan West of HFF represented the seller, and Todd Casper and Michael Hassler of CBRE represented the buyer, Briar Lake Village Inc., in the transaction.
SPRING, TEXAS — Marcus & Millichap has arranged the sale of Spring Crossing Retail Center, a 18,582-square-foot shopping center located in the Houston suburb of Spring. The asset had a list price of $4.1 million. Nate Newman of Marcus & Millichap represented the seller, a local developer, and Allen Smith of Marcus & Millichap represented the buyer, a TIC partnership, in the transaction.
FOREST HILL, TEXAS — Transwestern has arranged the sale of a 3,050-square-foot industrial building located at 5901 Parker Henderson Road in the Fort Worth suburb of Forest Hill. Todd Hawpe of Transwestern Dallas represented the buyer, Adder Minnis LP, and Chris Mendez of Coldwell Banker Commercial Alliance DFW represented the seller, local investor Jennifer Pool, in the transaction.
DRIPPING SPRINGS, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of Spring Bluff Center, a 18,732-square-foot office and retail property located at 400 Highway 290 in the Austin suburb of Dripping Springs. Rebecca Zigterman and Matt Levin of ECR represented the undisclosed seller, and Craig and Kristen Van Engelen of Realty Austin represented the buyer, Caissa Properties, in the transaction.
NEW BRAUNFELS, TEXAS — Stream Realty Partners and USAA Real Estate Co. are set to develop I-35 Logistics Center, a 397,600-square-foot, Class A warehouse located along I-35 in New Braunfels, a suburb of San Antonio. The development, located 20 minutes from the San Antonio International Airport, will accommodate tenants from 87,000 to 397,600 square feet. The project also includes 4.2 acres of fully entitled, development-ready land available for separate purchase. The warehouse will offer 32-foot clear heights, a 280-foot building depth, 52- by 55-foot column spacing, rear-load doors, 52 trailer drops, 80 dock high loading spaces, T5 lighting, ESFR fire suppression and a circulation driveway outside of the truck court. Construction is slated to begin in March, with delivery expected in December.
DALLAS — Marcus & Millichap has arranged the sale of Plaza De Oro, a 93,939-square-foot, grocery-anchored shopping center located in Dallas. Matthew Sheard and Kelsie Vogds of Marcus & Millichap represented the seller, the Dallas-based developer of the project, and Philip Levy of Marcus & Millichap represented the undisclosed buyer in the transaction. The terms of the sale were not released. El Rancho Supermercado anchors the center, located at 4490 W. Jefferson Blvd. Other tenants at the center include Chilito’s, Dollar Tree, Clinicas Mi Doctor, Pizza Patrón, Rent-A-Center, State Farm and TitleMax.
