AUSTIN — CBRE Capital Markets’ investment properties team has arranged the sale of a 5,162-square-foot retail building in a long-term, triple net lease to MedSpring Urgent Care. An unnamed Austin-based private investor purchased the asset for an unnamed price from The DuPont Group, an Austin-based real estate group. The property is 100 percent occupied by MedSpring Urgent Care, with 11 years remaining on a triple net lease. The property, located at 208 W. Ben White Blvd., was built in 2012 and is near St. David’s South Austin Medical Center and a P. Terry’s Burger Stand. Walter Saad, Cathy Nabours and Logan Reichle with CBRE represented the seller.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Lakeside, a 192-unit apartment complex in Arlington. Bard Hoover, Nick Fluellen, Will Balthrope and Drew Kile of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, Madera Residential. Fluellen, Hoover, Balthrope and Kile also procured the 1031-exchange buyer, The Lighthouse Group. Fannie Mae provided the loan assumption. Lakeside is located at 2500 Brown Blvd. near Highway 360 and I-30. The property was built in 1979 and includes one- and two-bedroom floor plans with an average unit size of 858 square feet.
PEARLAND, TEXAS — NorthMarq Capital has arranged the $28.5 million refinancing of The Reserve at Tranquility Lake, a 314-unit apartment complex in Pearland, southeast of Houston. Greg Duvall of NorthMarq arranged financing. The 10-year loan includes a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.
GRAPEVINE, TEXAS — Carpenter Business Center, a 15,064-square-foot office/medical building located at 1340 Main St. in Grapevine has been sold to a local investor. The property, 20 miles northwest of Dallas, sits near the DFW International Airport. Mark Boone of Realty Capital management represented the seller in the transaction. Realty Capital is the property manager at Carpenter Business Center.
HOUSTON — NAI Houston has arranged the sale of a 15,200-square-foot industrial building in Houston. The property is situated on 1.6 acres located at 929 Airtex Drive. John Ferruzzo and Travis Land of NAI Houston represented the seller, Steadfast Development Co. LLC. Andy Sowell of Boyd Commercial represented the buyer, JSK & CCK LLC.
DALLAS — HFF has arranged a permanent loan for Lakewood Shopping Center, a 65,674-square-foot retail center in Dallas. HFF worked on behalf of the borrower, Lincoln Property Co., to secure the 15-year, fixed-rate loan through Aegon USA Realty Advisors LLC. Lakewood Shopping Center is located at 6400 Gaston Ave. on 4.3 acres near the Lakewood neighborhood. The center was completed in 1946 and renovated in 2012. The property is 91 percent leased to tenants including CVS Pharmacy, Sport Clips, RadioShack, Unleashed by Petco and Liberty Burger. Travis Anderson, Adam Herrin and Cory Fowler of HFF represented the borrower.
LAGO VISTA, TEXAS — BMC Capital’s Austin office has arranged for a $5.5 million refinancing loan for Lago Vista Town Center, a 62,093-square-foot shopping center in Lago Vista. Lowe’s Grocery and Ace Hardware anchor the shopping center, which is 20 miles northwest of Austin. The loan features a seven-year fixed rate of 4.5 percent and a 20-year amortization schedule. Hank Crane of BMC arranged the loan through one of BMC Capital’s correspondent banking relationships.
THE COLONY — Rapid Med Urgent Care Center has leased 6,692 square feet of retail space in Colony Plaza Retail, a retail center located at 3800 Main Street at Memorial Drive in The Colony. Matthew Rosenfeld of The Weitzman Group’s Commercial Retail Division handled negotiations as tenant representative for the urgent care center. Rapid Med offers primary care, urgent care, occupational medicine, concussion care management, vaccinations and other services. The company plans to open two more locations in the next six to nine months.
SAN ANTONIO — An unnamed buyer has purchased the 648-acre Black Buck Ranch in northwest San Antonio. The property will be developed into a master-planned community and features elevated land with views of downtown San Antonio and the surrounding area. The property borders the Palmira & Anaqua Spring Ranch developments. Taylor Schmidt and Reed Vestal of TNRG represented the buyer. Asher Reilly of Land Advisors Organization represented the seller.
MISSOURI CITY, TEXAS — Coldwell Banker Commercial united Realtors has arranged the sale of a 22,203-square-foot shopping center located on three acres at 4225 Sienna Parkway in Missouri City. The center, called Market at Bees Creek, is located just south of Houston. Mark McGinley of Coldwell Banker represented the seller. James Lee of Gulf South Investments represented the buyer, a local investment group.