Texas

Cushman & Wakefield Secures Refinancing of Former Blockbuster Headquarters

by Haisten Willis September 23, 2016

MCKINNEY, TEXAS — Cushman & Wakefield has secured bridge refinancing through Synovus Bank for Texas Crossing, which previously served as Blockbuster’s corporate headquarters and national distribution center. Cushman & Wakefield’s Beth Lambert and Diego Arroyave represented the owner, Saskaway Group. The 856,897-square-foot office and industrial facility sat vacant for two years until Saskaway Group purchased it in May 2014, making it the investment group’s fifth acquisition in metro Dallas. In 18 months, ownership leased 100 percent of the 697,149-square-foot warehouse portion to national credit tenants including UPS and International Paper. With the new loan in place, ownership is now focused on leasing the adjoining 160,000-square-foot, two-story office building. The property is located 20 miles north of Dallas at 3000 N. Redbud Blvd. in McKinney.

September 23, 2016

Retail Texas

Shop Cos. Brokers Sale of Two Retail Centers in Metro Dallas

by Haisten Willis September 23, 2016

DALLAS and SOUTHLAKE, TEXAS — Shop Cos.’ investment sales has brokered the sale of two retail properties in metro Dallas totaling 44,105 square feet. Tommy Tucker and Tim Axilrod of Shop Cos. represented the seller in each transaction. The properties include: Campbell Village, a 36,659-square-foot retail center located in Dallas at the southeast quadrant of Hillcrest and Campbell roads. At the time of closing the property was 94.5 percent leased to tenants including Leslie’s Pool Supplies, North Texas Physical Therapy, Campbell Village Veterinary Hospital, Armani Salon, Empire Cleaners, Meat Point and Rover Sleepover. Shop Cos. represented the seller, a Dallas-based limited company. A private purchaser from California utilizing a 1031 tax-deferred exchange was the buyer. Stanley Crossing, a 7,446-square-foot retail center in Southlake. The property sits at the intersection of West Southlake Boulevard (FM 1709) and Davis Boulevard (FM 1938). At the time of closing it was 100 percent leased to Bibbentuckers, Re/Max and Indulge Nail Salon. Shop Cos. represented the seller, a Dallas-based limited partnership. A Delaware-based limited utilizing a 1031 tax-deferred exchange was the buyer.

September 23, 2016

Restaurant Retail Texas

Venture Commercial Arranges sale of Retail Center in Metro Austin

by Haisten Willis September 23, 2016

PFLUGERVILLE, TEXAS — Venture Commercial Real Estate’s investment sales team has arranged the sale of The Shops at 685, an 11,200-square-foot, multi-tenant retail center located in the Austin suburb of Pflugerville. The Shops at 685 is located on 2.1 acres at 2424 FM 685, near the intersection of toll roads SH 130 and SH 45. Tenants include Einstein Bros. Bagels, Pie Five Pizza Co., Chipotle and Mattress Firm. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture’s Investment Sales team represented the buyer, Callaghan Ranch Ltd. Tim Allen of JLL Americas Inc. represented the seller, CSW Pflugerville LLC.

September 23, 2016

beverage-city-4441-bass-pro-drive-garland-texas

Retail Texas

Weitzman Negotiates Sale of Retail Property on Lake Ray Hubbard in Garland

by Haisten Willis September 23, 2016

GARLAND, TEXAS — The Weitzman Group has negotiated the sale of a convenience store on 1.4 acres at 4441 Bass Pro Drive in Garland. The purchaser is the operator of the convenience store, Daanya Inc. David Zoller and Joey Keffler of The Weitzman Group handled negotiations as listing agents for the site. The location, branded Beverage City, will continue to be operated as a fuel station and convenience store. A planned internal renovation will upgrade the facility and add a full kitchen. The property, with freeway frontage, is part of Harbor Point, anchored by Bass Pro Shops.

September 23, 2016

Industrial Texas

TierPoint to Build Second Data Center in Metro Dallas

by Haisten Willis September 22, 2016

ALLEN, TEXAS — TierPoint LLC plans to build a new data center in the Dallas metropolitan area. Partnering with Compass Data Centers, TierPoint’s plans calls for 90,000 square feet of building space in Allen, with the initial phase including an investment of over $20 million and 16,000 square feet of raised floor. The facility will also include infrastructure support and office space and is expected to be operational by spring 2017. TierPoint’s made its first data center acquisition, Colo4Dallas, in 2010.

September 22, 2016

Multifamily Texas

Electra America, Robbins Purchase 288-Unit Apartment Complex in San Antonio

by Haisten Willis September 22, 2016

SAN ANTONIO — Electra America and Robbins Property Associates have acquired Vantage at Alamo Ranch, a 288-unit apartment complex in San Antonio. The JV bought the asset from Vantage Communities and will rebrand it as Verandas at Alamo. With this acquisition, Electra/Robbins’ Texas portfolio now includes over 7,000 apartment units in cities including San Antonio, Houston and Dallas. Constructed in 2015, Vantage at Alamo is located at 6831 Alamo Parkway and features one-, two- and three-bedroom units. The project totals 240,916 square feet. Community amenities include swimming pools, a fitness center, on-site maintenance, gated access, business center, picnic area, pet park and high-speed Internet. The property is 87 percent occupied. Unit amenities include nine-foot ceilings, balconies/patios, hardwood floors, walk-in closets and granite countertops.

September 22, 2016

Office Texas

JLL Secures Office Lease Renewal, Expansion for Fort Worth Accounting Firm

by Haisten Willis September 22, 2016

FORT WORTH, TEXAS — JLL has secured an office lease renewal and expansion on behalf of accounting firm Auldridge-Griffin P.C. The 8,614-square-foot office lease includes a nearly 1,500-square-foot expansion for the Fort Worth-based company. JLL’s Pat McDowell negotiated the lease on behalf of the tenant. John Grace of Colliers International represented the unnamed landlord. Auldridge-Griffin’s office is located in the Ridglea Bank Building at 6300 Ridglea Place.

September 22, 2016

Retail Texas

M&M Arranges Sale of 6,793 SF Retail Property in Houston

by Haisten Willis September 22, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Broadway Shopping Center, a 6,793-square-foot retail property located in Houston. Gus Lagos and Alex Bouchard of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, an individual/personal trust partnership. Lagos and Bouchard also secured the buyer, a limited liability company. Broadway Shopping Center is located at 3933 Broadway St.

September 22, 2016

Retail Texas

First Cyclebar in San Antonio to Open in Stone Oak

by Haisten Willis September 22, 2016

SAN ANTONIO — CycleBar, an indoor cycling studio, will open its first San Antonio studio on Sept. 26 in a 3,000-square-foot space in Village at Stone Oak. The specialty retail center is located at 22602 U.S. Highway 281 N. Marcus Shaffer with The Weitzman Group handled negotiations for CycleBar. Tenants at Village at Stone Oak include Alamo Drafthouse Cinema, James Avery, Bar Louie, Victoria’s Secret, 54th Street Grill & Bar, Target, HomeGoods, Hobby Lobby, DSW and World Market. CycleBar’s rides offer a full-body workout and cardio exercise. The company provides shoes, water bottles and snacks at no extra cost, as well as secure storage and a locker room with robes, wet clothing bags and toiletries.

September 22, 2016

Retail Texas

JLL Secures Sale of 681,319 SF Mall of Abilene

by Haisten Willis September 21, 2016

ABILENE, TEXAS — On behalf of an investment group advised by Gregory Greenfield & Associates, JLL Capital Markets has secured the sale of the Mall of Abilene in Abilene. An affiliate of Radiant Partners LLC purchased the 681,319-square-foot mall for an undisclosed price. Radiant Partners is a national owner/operator of regional Class B malls. David Monahan and Cameron Pittman led the JLL team in the sale. The Mall of Abilene is visible from the adjacent U.S. Route 84 and Buffalo Gap Road. Tenants include Best Buy, Dillard’s, Ulta Beauty and Sears.

September 21, 2016

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