Texas

KATY, TEXAS — Marcus & Millichap has arranged the sale of a 108,066-square-foot, two-building medical office portfolio anchored by a Memorial Hermann Rehabilitation Hospital and Ambulatory Surgery Center. The facilities are located in the Houston suburb of Katy. Scott Niedergang and Gino Lollio of Marcus & Millichap’s Healthcare Real Estate Group represented the seller, a partnership of local private investors and physicians practicing in the facilities. The pair also procured the buyer, a publicly traded real estate investment trust. Memorial Hermann is the largest not-for-profit healthcare system in Southeast Texas with 13 hospitals and numerous specialty programs and services in the Greater Houston area.

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mohr

GRAND PRAIRIE, TEXAS — Mohr Capital, a privately held real estate investment firm headquartered in Dallas, has broken ground on a Class A industrial development totaling 430,188 square feet on 20.7 acres, located in Grand Prairie on Bardin Road. Mohr’s development team has the designed the project to accommodate tenants from 100,000 square feet up to 430,188 square feet. Cannon Green and Blake Kendrick of Stream Realty Partner’s Dallas office, along with Sarah Ozanne, senior associate, will oversee the leasing of the project. Other members of the development team include Lisa Swift of GSO Architects, Jared Bratz of RLG Consulting Engineers and Will Pender of Rogers-O’Brien Construction. The project is expected to deliver in the second quarter of 2016.

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Trinity-161

DALLAS — Co-developers Somervell Commercial Realty and SOHO Realty Partners are set to begin construction on Trinity 161 Trade Center, a 266,450-sqaure-foot industrial facility in Grand Prairie. The pair recently closed on 15 acres located at 3100 State Highway 161 and Trinity Boulevard. Michael Stanzel, Patrick Embry and John Leinbaugh of NAI Robert Lynn will lease the building. Located along the highway frontage road, the property includes 390 car parks. Company signage on the property will be visible from State Highway 161.

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Orchard-Hills

GARLAND, TEXAS — Greysteel has arranged the sale of Orchard Hills, a 50-unit multifamily community in Garland. Greysteel’s Texas multifamily investment sales team of Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss represented Meadows Denison Investments LLC in the sale of Orchard Hills to Oyster Rock LLC. Located along West Kingsley Road, Orchard Hills is a garden-style community featuring 24 one-bedroom units and 26 two-bedroom, two-bathroom units. The property offers residents a blend of urban amenities and outdoor activities with a playground, 1.6 miles of trails, a disc golf course, baseball and soccer fields, as well as swimming and recreation at Audubon Park.

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Las-Terrazas-14018-Brookgreen-Drive-Dallas

DALLAS — Performance Properties has acquired the 230-unit Las Terrazas apartment complex. The 98 percent leased property is located at 14018 Brookgreen Dr. With the acquisition, Performance now controls 35 acres within blocks of the High Five stacked interchange bisected by the Cottonwood Trail, a city-maintained hiking and biking amenity. The buyer plans to spend $1.3 million to update Las Terrazas, focusing on the exteriors of the 21 buildings to create an entirely new look for the late 1960s-era complex set on 9.8 acres. Work will start immediately on new roofs, stairwells, landings and landscaping. It will take nine months to one year to complete the renovation. Amenities include a courtyard with barbecue areas, swimming pool, playground, four laundry facilities and clubhouse with a fitness room, business center and community room. Las Terrazas is also located near a bus stop, a light rail station and the Cottonwood Trail. Las Terrazas contains 98 two-bedroom, two-bath units and the balance consists of efficiencies and one-bedroom, one-bath floor plans. Units average 745 square feet and rents average $627 per month. Todd White and David McQuaid of Performance Properties represented the investment group in the acquisition of Las Terrazas. Taylor Snoddy and Philip Wiegand …

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Woodmont-Plaza-North

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Woodmont Plaza North, a 42,004-square-foot retail property located in Fort Worth. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy also secured the buyer, a private investor. Woodmont Plaza North is located at 6200 McCart Ave. The property is a multi-tenant retail center that is 91 percent occupied. Tenants include EZ Money Payday Loans, Schlotzsky’s Deli, Krispy Catfish, Evolution Games, Agape Church, Maya’s Furniture & More, Century 21, Supercuts, H & R Block, Little Caesar’s, Eddie Bermea State Farm and Cousin’s Barbecue. The center was built in 1982 and sits on 4.1 acres. Woodmont Plaza North is located on McCart Avenue about two miles south of Interstate 20.

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Robertsons-Creek

FLOWER MOUND, TEXAS — HFF has arranged the sale of Robertson’s Creek, a 336,402-square-foot power center in the Dallas suburb of Flower Mound. HFF arranged the sale of the property on behalf of the seller, a partnership between TFG Crown Partners and Ball Ventures. Dunhill Partners purchased the asset for an undisclosed amount. Completed in 2007, the 97 percent leased property includes tenants such as Belk, Hobby Lobby, Dick’s Sporting Goods, Old Navy and ULTA Beauty. Situated on 39 acres at 5801-5861 Long Prairie Road, Robertson’s Creek is located less than 30 miles northwest of downtown Dallas and less than 33 miles northeast of downtown Fort Worth. Doug Hazelbaker and Ryan Shore led the HFF investment sales team representing the seller.

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PORTER, TEXAS — The Signorelli Co., has broken ground on a 120,000-square-foot Kroger in Valley Ranch Town Center, a new retail district inside the master-planned community of Valley Ranch. The 1,400-acre community is situated at the intersection of U.S. 59 and the Grand Parkway, just north of Kingwood. Sam’s Club, Academy Sports + Outdoors and several restaurants including Chili’s, Chick-fil-A and El Pollo Loco were the first to be announced in Valley Ranch Town Center. A cinema, which will be one of the anchors of the planned entertainment district along with a 10,000-seat amphitheater, will soon be announced along with other stores and restaurants. A 135-acre park called The Grove will border Valley Ranch. Also part of Town Center is Texan Drive Stadium at Valley Ranch, a football stadium for the New Caney ISD. At final completion, Valley Ranch is planned to include approximately 2,500 homes and townhomes and 1,000 multifamily residences.

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doster

FORT WORTH, TEXAS — The Nashville office of Doster Construction Co., along with Mainstreet, broke ground Oct. 8 on a $19.3 million seniors housing property in Fort Worth. This is the first project between Doster and Mainstreet, a national real estate developer located in Carmel, Ind. The property will include 94 beds, 69,355 square feet and will provide transitional care (short-stay rehabilitation and therapy) and assisted living. The project is expected to be complete by October 2016. As a transitional care center, the property will offer hospitality-oriented care with amenities such as a therapy gym, outdoor rehabilitation courtyard, movie theater, game room, spa, on-site chef and more.

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TOMBALL, TEXAS — David Alexander of Newcor Commercial Real Estate has arranged the purchase and assemblage of four off-market land tracts totaling 37.8 acres near FM 2978 on Bogs Road in Tomball. The site is just south of The Woodlands. Alexander represented the buyer, J. Alan Kent Development, who plans to develop a residential community on the property.

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