HOUSTON — NAI Houston represented Veritrust Corp. in the renewal and expansion of its industrial lease of 87,000 square feet at 2000 Afton Road in Houston. Chris Kugle of NAI Houston represented the tenant, Veritrust Corp., while Ed Bane and Jon Michael of NAI Houston represented the landlord, BRE/TX Industrial Properties LLC.
HOUSTON — Marcus & Millichap has arranged the sale of a 15,273-square-foot Urban Outfitters store in Houston’s Rice Village shopping center. Jerry Goldstein of Marcus & Millichap’s Houston office represented the unnamed seller and the buyer, Rice University. The building is located at 2501 University Blvd. in Houston, near West University Place and Rice University. Directly across University Boulevard from the store is the 164,211-square-foot Village Arcade shopping center.
AUSTIN — BMC Capital’s Austin office has arranged a $1.8 million acquisition loan for a student housing property in Austin. The five-year loan includes a fixed rate of 4.4 percent and 30-year amortization. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
FARMERS BRANCH, TEXAS — Colliers International has arranged a 25,767-square-foot industrial lease for Stanley Steemer in the Dallas suburb of Farmers Branch. Stanley Steemer’s new facility will be located in Valwood Service Center, a warehouse facility with mid-to-high level finishes located at 13859 Diplomat Drive. The location will feature a showroom and carpet and upholstery cleaning operations. Allen Gump and Allyson Gump of Colliers’ Dallas office along with Sean McHale of Colliers’ Indianapolis office represented Stanley Steemer in the transaction. Weldon Davis of Focus Service Group represented the landlord, Valwood Service Center II Ltd.
ADDISON, TEXAS — Marcus & Millichap has arranged the sale of Holiday Inn Dallas-North Addison, a 101-room hotel located in Addison, a northern suburb of Dallas. Chris Gomes of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a Texas-based limited liability company. Gomes also procured the buyer, a private investor. Holiday Inn Dallas-North Addison is located at 4960 Arapaho Road. It was built in 2000 and renovated in 2009. Amenities include a business center, gym, swimming pool and on-site restaurant.
GARLAND, TEXAS — Lee & Associates has negotiated the sale of a 47,500-square-foot industrial building located at 2514 National Drive in Garland. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office represented the buyer, Vesgro Corp. Colliers International represented the unnamed seller.
THE WOODLANDS, TEXAS — NorthMarq Capital has arranged the sale of Saddlebrook Plaza, a 26,400-square-foot retail property located in The Woodlands. The 10-year loan was structured with a 25-year amortization schedule and 4 percent interest rate. Tenants in the property include Goodwill and Papa Murphy’s. Warren Hitchcock of NorthMarq’s Houston office led NorthMarq’s team in the transaction.
HOUSTON — NAI Houston represented Andrews Fabrication in the expansion of its 21,000-square-foot industrial lease at 1528 Mooney Road. Jake Wilkinson of NAI Houston represented the tenant in the transaction. Patrick Wolford of TNRG represented the landlord, Rob Pelletier Construction Inc.
PASADENA, TEXAS — Marcus & Millichap has arranged the sales of two apartment complexes in Pasadena. The properties are Alta Vista, which has 514 units, and Las Villas, which as 468 units. Nick Fluellen, Will Balthrope, Drew Kile, Jeffrey Fript and Bard Hoover of Marcus & Millichap represented the buyer and seller in both transactions. The properties are located south of the Houston Ship Channel.
DALLAS — ARA has brokered the sale of Parkridge Place, a 536-unit apartment complex located in Irving, a suburb of Dallas. Brian O’Boyle Sr., Brian O’Boyle Jr., Brian Murphy and Richard Furr of ARA marketed the property on behalf of The Milestone Group. Resource Real Estate, an owner and manager of assets valued at $2.8 billion, purchased Parkridge Place. The property was built in 1984 and renovated in 2009. Amenities include a business center, two swimming pools, a coffee bar and an Internet café. It is located near major highways including Highway 161, State Highway 114, I-635, Belt Line Road and MacArthur Boulevard. Parkridge Place was 96 percent occupied at the time of sale.