GROVE, OKLAHOMA — Marcus & Millichap has negotiated the sale of a 9,196-square-foot Family Dollar in Grove. Tom Mann of Marcus & Millichap’s Tulsa office marketed the property on behalf of the seller, an individual/personal trust. Family Dollar was built in 2005 and is located at 1638 N. U.S. Hwy 59. Grove serves a portion of northeastern Oklahoma and derives business from its location extending from a portion of the east shore of Grand Lake, a major area of lake recreation serving Tulsa and surrounding towns.
GARLAND, TEXAS — Greysteel has arranged the sale of Casa Del Mar, a 59-unit multifamily property in Garland, to Casa Del Mar I LLC on behalf of a private local investor. Greysteel’s Boyan Radic and Doug Banerjee negotiated the transaction. Greysteel also arranged acquisition financing for the buyer. The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac small balance loan program. It features a fixed interest rate and one year of interest-only payments followed by a 30-year amortization schedule. Greysteel’s Anton Mattli and John Marshall Doss negotiated the terms of the financing. Casa Del Mar is located at 3810 W. Walnut St.
DALLAS — On behalf of Quadrant Investment Properties, CBRE has announced a number of capital improvements for Saint Paul Place. The Class A office building is a 22-story, 273,217-square-foot tower in the Dallas Arts District. Located at the intersection of North Saint Paul Street and Ross Avenue, Saint Paul Place overlooks the Dallas Museum of Art and Klyde Warren Park. Renovation plans include a new tenant lounge on the second floor complete with a conference center and outdoor patio deck with fire pit. The deck will extend to Ross Avenue and overlook the Dallas Museum of Art. Additionally, the espresso bar inside the building will be renovated to include areas for dining and working. The lobby will also receive an upgraded seating area and new Wi-Fi accessibility. Celeste Fowden, Seth Thatcher and Ben Davis of CBRE’s Dallas office are leasing the property on behalf of Quadrant Investment Properties. The tower was built in 1983 and is 80 percent leased to tenants including D Magazine, accounting firm Crowe Horwath and Sendero Business Systems.
ARLINGTON, TEXAS — In an all-cash transaction, SkyWalker Property Partners has acquired a 72,518-square-foot, Class A office building in Arlington. The property is the first for the company’s Opportunity Knocks Fund in preparation for the launch of a major capital campaign in June. The 40 percent leased office building at 701 Highlander Blvd. is located on the city’s south side, close to Arlington Highlands and Parks Mall. The 4.6-acre property includes a T-Mobile cell tower. At least $400,000 will be invested into addressing deferred maintenance and upgrading the 30-year-old structure. Roughly $150,000 is earmarked to remediate waterproofing issues with the roof, windows and granite-clad skin panels. The lobby will be getting new lighting, finishes and furniture. Upgrades are also planned for elevator cabs and common areas. The exterior plan calls for a new monument sign and landscaping improvements. Work is expected to get underway within 30 days. Twenty-six tenants-in-common investors, known as TIC-Highlander Building LLC, sold the five-story office building. The buyer, This Land is Highland, was represented by Gary Walker of Coldwell Banker Commercial Alliance DFW, along with Colt Power and Grant Irvin of NAI Robert Lynn. Paul Getty of Sperry Van Ness/First Guardian Group of San Jose, Calif., …
ROSENBERG, TEXAS — NewQuest Properties has finalized a 38,835-square-foot lease with 24 Hour Fitness Worldwide Inc. at the 550-acre Brazos Town Center in the Houston suburb of Fort Bend County. Site work is underway on a tract fronting FM 762 and adjacent to Spec’s Wines, Spirits & Finer Foods. The California-based fitness center pioneer is planning to open a sport club, one of four concepts in its portfolio, by year’s end. McLeod-Cobb and Bob Conwell of NewQuest Properties represented the landlord, while their colleague Jeff Hayes negotiated on behalf of 24 Hour Fitness. The project’s new tenant has more than 400 clubs nationwide and nearly 4 million members. The 99 percent leased Brazos Town Center is located at the junction of Southwest Freeway (I-69) and FM 762.
LEWISVILLE, TEXAS — Spec’s Wines, Spirits & Finer Foods, a shopping experience founded and operated by the same Houston family since 1962, has leased 25,908 square feet of retail space in Lakepointe Crossing, a power retail center located at 2416 S. Stemmons Freeway in Lewisville. Blake Shipp of The Weitzman Group handled negotiations as the leasing agent for Lakepointe Crossing. Jody Detmore of SFP Brokerage LLC represented Spec’s. Cencor Realty Services’ property manager, Susana Gandara, manages Lakepointe Crossing.
HUMBLE, TEXAS — Marcus & Millichap has arranged the sale of The Learning Experience, a 10,500-square-foot net leased property in Humble. Taylor Booker and Nate Newman of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a limited liability company. Keith Lloyd and Christopher Jones of the firm’s Houston office secured and represented the buyer, a partnership. The Learning Experience is located at 7743 N. Sam Houston Parkway East.
COPPELL, TEXAS — ML Realty Partners LLC has begun construction on Phase II of Park West Crossing, which includes four industrial buildings totaling 304,943 square feet. Located in Coppell just north of DFW International Airport, the 74-acre master-planned business park is bordered by Freeport Parkway to the west, Southwestern Boulevard to the north and South Belt Line Road to the east. Upon completion, ML Realty Partners will have developed eight buildings at Park West Crossing totaling 612,443 square feet. The rear-load buildings should be available for occupancy during the fourth quarter and will range in size from 61,389 square feet to 91,968 square feet.
IRVING and SAN ANTONIO, TEXAS — Dougherty Mortgage has secured two loans for multifamily properties in Texas. In the first transaction, Dougherty closed a $9.3 million Fannie Mae loan for the acquisition of Silverado Apartments, a 184-unit apartment property located in Irving. The 10-year loan includes one year of interest-only payments and a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for borrower Elmstone Group OP1 through a partnership with Old Capital Lending. In the second transaction, Dougherty closed an $881,054 Fannie Mae loan for the acquisition of Windsor Village Apartments, a 124-unit complex located in San Antonio. Dougherty’s Vienna, Va., office arranged the loan with a 30-year amortization schedule on behalf of the borrower, Windsor Village SA Apartments LLC. The loan term is a little over eight years.
HOUSTON — The Houston office of JQ has provided structural engineering services for Caress Stadium at Helfman Field, located on The Emery/Weiner School’s 15-acre campus in southwest Houston at 9825 Stella Link Road. Construction was completed in March. The completion of Caress Stadium is part of the school’s Champions Campaign, a capital campaign with the goal of raising $20 million by 2020 to enrich academic programs, extend tuition assistance and to expand facilities to accommodate growth in its athletics and arts programs. The Caress Stadium fieldhouse project includes locker rooms, a weight room, ticket booth, concessions and support functions on the first level, along with a film deck, press box and mechanical mezzanine on the second level. There is also an on-site storage building adjacent to the field along with two wing wall structures on each end of the bleachers that will seat more than 500 spectators.