FORT WORTH, TEXAS — SVN / Trinity Advisors recently closed several industrial transactions in Fort Worth, Arlington and Carrollton. James Blake of SVN /Trinity arranged the sale of a warehouse located at 2405 Ludelle St.in Fort Worth to XS Sights System, which will occupy the 10,500-square-foot building. Built in 1986, the industrial building is located just off I-30 and Beach Street. Blake represented the seller, Powerspoint Investments LLC, in the transaction. Tyler Trahant with The Trahant Co. represented the buyer. Carl Brown of SVN / Trinity arranged the lease of three spaces in the Beach Conner Industrial Park, located 10 minutes from downtown Fort Worth on Beach Street. The first lease deal was 3,600 square feet to Surgidental for a two-year term. The second deal was 7,200 square feet leased to Delta Structural Tech for a one-year term, and the third deal was 3,600 square feet leased to Munoz Furnishings for a one-year term. Brown also arranged the lease of 3,000 square feet of industrial space to HD Foundation for a three-year term at 801 Secretary Drive in Arlington. In addition, SVN / Trinity’s Clint Montgomery arranged the lease of 1,120 square feet of space in an industrial complex in Carrollton …
DALLAS — Greysteel has arranged the sale of Carroll Place, a 26-unit apartment community in the Old East Dallas neighborhood of Dallas. Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill of Greysteel served as advisor and agent to 1502 Carroll Place LLC in the sale of Carroll Place to Old East Carroll LLC. The property includes six efficiency and 20 one-bedroom/one-bathroom units within three two-story buildings.
HOUSTON — Old Capital has provided a loan for the 38-unit Magnum Oaks Apartments in Houston. The transaction includes a cash-out refinance after 15 months for a local owner, who is a foreign national. Old Capital provided the Freddie Mac, non-recourse loan with a 30-year amortization schedule at a 4.75 percent interest rate and 75 percent loan-to-value ratio. The loan term is 10 years with a declining pre-payment penalty and three years of interest-only payments.
HOUSTON — CBRE has completed a lease extension for Houston-based Ridgewood Energy, an energy-focused private equity firm with offices in Houston and New Jersey. The company is also expanding its space at 1254 Enclave Parkway, located in Houston’s Energy Corridor, to a total of 21,945 square feet. Kevin Saxe and Nick Bockhorn of CBRE represented Ridgewood Energy in the lease transaction with landlord AG Plaza At Enclave LLC, which was represented by CBRE’s Bonnie Kelley.
HOUSTON — Colliers International has arranged the sale of 16055 Space Center Blvd. in Houston. The property is a multi-tenant, seven-story office building containing 149,144 square feet. The Class A building is situated on seven acres in the NASA/Clear Lake submarket of Houston. Colliers International represented the seller, Parfinco TX LLC.
CARROLLTON, TEXAS — Henry S. Miller’s Bill Bledsoe has represented Pack Properties XI LLC in the purchase of 5.1 acres of land in Carrollton. The Sam Pack Auto Group is expanding its business in Carrollton with the new 5 Star Chevrolet. The parcel, located at 1711 S. Broadway, will accommodate additional vehicle storage and inventory needs. Troy Corman of T2 Real Estate represented the seller, H. Dalton Wallace of Austin, in the transaction.
WICHITA FALLS, TEXAS — Marcus & Millichap has arranged the sale of MainStay Suites, a 90-room hospitality property located in Wichita Falls. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a private investor. Cooper, Gomes and Miller also procured the buyer, a private investor. MainStay Suites is located at 1917 Elmwood Ave. N., just east of Kemp Boulevard. Constructed in 1999 and renovated in 2014, the extended stay hotel is situated on 1.9 acres. The hotel offers meeting space and high-speed wireless Internet access throughout the common space and in guest rooms. Additional property amenities include complimentary breakfast, free newspapers, guest laundry facilities and free guest parking. Recreational amenities at the hotel include an on-site fitness center and a business center.
EULESS, TEXAS — The Boulder Group, a net lease investment brokerage firm, has completed the $2.7 million sale of a single-tenant Panera Bread ground lease located at 2911 Highway 121 in Euless. The newly constructed Panera Bread is an outparcel to the 194-acre Glade Parks development. Glade Parks’ tenants include Belk, Dick’s Sporting Goods, Dave & Busters, Michael’s and other national retailers. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and the purchaser in the transaction. The purchaser was a private investor from Florida utilizing a 1031 tax-deferred exchange, and the seller was a Midwestern developer. The Panera Bread ground lease is for 15 years and features 10 percent rental escalations every five years.
DALLAS — High Street Residential, the residential subsidiary of Trammell Crow Co. (TCC), in partnership with Principal Real Estate Investors (PrinREI), has broken ground on M-Line Tower, a new 20-story, 262-unit residential tower located at 3200 McKinney Ave. in Dallas. The tower will also include ground-floor retail anchored by a 5,548-square-foot Café Express and a new McKinney Avenue Transit Authority (MATA) trolley barn and executive office. Sitting on 1.3 acres at the corner of McKinney Avenue and Bowen Street, M-Line Tower will feature one- and two-bedroom luxury rental units. Resident amenities include a resort-style pool, two-story fitness center, outdoor living space, clubroom, business center and a rooftop sky lounge with unobstructed views of downtown, Uptown and Turtle Creek. High Street Residential and PrinREI will be providing MATA with an allowance for a seventh trolley car, 1,730 square feet of space, a build-out allowance for its new space and new trolley tracks and switch along Bowen Street. U.S. Bank provided construction financing for the project. Andres Construction Services LLC is serving as the project’s general contractor.
SUGAR LAND, TEXAS — Alamo Drafthouse Cinema will open a new location in the Imperial Market development located in Sugar Land known as Alamo Drafthouse Cinema at Imperial Market. Imperial Market is an 850,000-square-foot mixed-use lifestyle center slated to open in the summer of 2017. Located at the historic home of the original Imperial Sugar Co. refinery, the development will retain a number of the architectural features of the building, which dates back to 1843. Construction will begin on the nine-screen theater in 2016 as part of a newly constructed, two-story retail building. Developed by Imperial Market LLC, the mixed-use development will feature a 274-unit apartment complex, 106,000 square feet of Class A office space and a 185-room hotel. Amenities will include the new Fort Bend Children’s Discovery Center, which is affiliated with the Houston Children’s Museum, the Sugar Land Heritage Foundation and more than two acres of greenery and park space. The development will also include 275,000 square feet of retail space.