COPPELL, TEXAS — Bradford Commercial Real Estate Services has negotiated a 16,936-square-foot lease in Coppell, located in the northern-central part of the metroplex, for Ellis Elite Basketball Academy, which is backed by former NBA player Monta Ellis. The space is located within the 57,302-square-foot Sandy Lake Business Center. Erik Blais of Bradford represented the landlord, H2G Enterprises, in the lease negotiations. Ellis operates the business as Basketball Training Systems LLC, which is based in Missouri.
SAN ANTONIO — Furniture Marketing Group will open a new showroom in San Antonio’s Pearl District. The address and square footage of the new showroom were not disclosed. The opening is slated for October. The showroom will be the seventh for Furniture Marketing Group, joining locations in Plano, Houston, Austin, El Paso, Oklahoma City and Albuquerque.
KYLE, TEXAS — Texas-based private equity firm SPI Advisory has sold Oaks on Marketplace, a 254-unit apartment complex located in the southern Austin suburb of Kyle. The property was built in 2017 and offers one-, two- and three-bedroom units. According to Apartments.com, amenities include a pool, fitness center, clubhouse and a dog park. SPI Advisory acquired the property in 2019 as part of a portfolio deal and implemented a value-add program. The buyer was not disclosed, but the property website currently identifies metro Chicago-based Sherman Residential as the owner and operator.
ARLINGTON, TEXAS — NAI Robert Lynn has brokered the sale of a 61,458-square-foot warehouse in Arlington. According to LoopNet Inc., the property at 525 113th St. was built on 2.8 acres in 1970, renovated in 2014 and features 21-foot clear heights, 100-foot truck court depths and parking for 56 cars. Michael Stanzel of NAI Robert Lynn represented the seller, JTM Management LLC, in the transaction. Eugene Krasny of KEI Realty represented the buyer, Weby Holdings Inc.
HOUSTON — Partners Real Estate will expand and relocate its office headquarters to a 32,286-square-foot space at San Felipe Plaza, a 1 million-square-foot building in West Houston’s Galleria District. The full-service firm currently subleases space at the nearby building at 1360 Post Oak Blvd., a deal that expires next March. Dan Boyles and Griff Bandy internally represented Partners in the lease negotiations. New York-based Sovereign Partners owns San Felipe Plaza.
SUNNYVALE, TEXAS — Tom Thumb will open a new 58,000-square-foot grocery store in Sunnyvale, an eastern suburb of Dallas, that will have a coffeeshop, pharmacy and fuel station. Scheduled to open in late 2025, the store will be located within Gateway Park, a $124 million development that spans 240,000 square feet and features additional retail and restaurant space, as well as athletic facilities. The Sunnyvale Town Council approved $3 million in incentives for the store’s development.
HOUSTON — Nonprofit organization Omar Welfare Association has signed a 4,718-square-foot office lease in West Houston. According to LoopNet Inc., the building at 3030 S. Gessner Road spans 61,599 square feet and includes medical office space. Christian Villarreal and William Alcorn of Finial Group represented the undisclosed landlord in the lease negotiations. The representative of the tenant was also not disclosed.
FORT WORTH, TEXAS — Spire Realty Group has completed the $70 million renovation of City Place, a mixed-use property in downtown Fort Worth. Built in the 1970s to house the headquarters of Tandy Corp., City Place comprises two 18-story office buildings totaling 539,000 square feet, an Aloft Hotel and 31,000 square feet of retail and restaurant space. Spire Realty acquired the property, which is located at the intersection of Throckmorton and 3rd streets, in 2011. Since then, the Dallas-based investment firm has overseen a full renovation of One City Place; added the Aloft Hotel; invested millions in capital improvements; and turned a vacant mall on the property into City Place Center, which includes structured parking and the retail and restaurant components.
SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Franklin Park TPC Parkway, a 269-unit seniors housing community in San Antonio. Built in two phases between 2011 to 2017, the property offers independent living, assisted living and memory care services. Franklin Communities sold the asset to an undisclosed, publicly traded REIT, which will retain Franklin as the operator. Brooks Blackmon, Ben Firestone and Lauren Nagle led the transaction for Blueprint.
CHANNELVIEW, TEXAS — Marcus & Millichap has brokered the sale of the 40-room Palace Inn Channelview hotel on the eastern outskirts of Houston. Rajan Patel, Chris Gomes, Allan Miller and Skyler Cooper of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The team also procured the buyer, a private investor. Both parties requested anonymity.