FORT WORTH — HFF has arranged the sale and financing for Summit Office Park, a two-building, 242,482-square-foot, Class A office complex in Fort Worth. HFF marketed the property on behalf of the seller, Prescott Group. Pennybacker Capital purchased the asset and HFF secured acquisition financing on behalf of the buyer. ViewPoint Bank provided the seven-year loan. Summit Office Park is located near I-30, just west of downtown Fort Worth. The eight-story buildings, located at 1200 and 1300 Summit Ave., are 95 percent leased and span 120,396 square feet and 122,086 square feet, respectively. Travis Anderson and Steve Heldenfels led HFF’s debt placement team.
AUSTIN — Austin-based Centric Commercial has joined CORFAC International as the network’s fourth Texas firm. Centric Commercial/CORFAC International covers real estate services including strategic planning, site selection, lease negotiations, lease renewals, lease expansion, financial analysis, construction/project management, relocation support and property acquisitions/dispositions. Centric represents tenants in both lease and investment assignments. CORFAC’s other Texas affiliates include Houston-based Boyd Commercial, San Antonio-based Providence Commercial Real Estate Services and Dallas-based Bradford Commercial Real Estate Services.
LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of Autumnwood Apartments, a 160-unit apartment complex located in Longview. Tommy Lovell III and Kim Westcott of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Zar Haro and Mike Moffitt Jr. of Marcus & Millichap’s San Antonio and Austin offices procured the buyer, a private investor. Autumnwood Apartments is located at 300 Lake Lamond Road in Longview, just south of West Cotton Street. The property was built on 8 acres in 1971 and consists of 10 two-story buildings. The complex includes 32 one-bedroom, 96 two-bedroom and 96 three-bedroom units.
FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.
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.