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.
ANGLETON, TEXAS — NAI Houston represented Trans Global Solutions Inc. in the purchase of 155 acres in Angleton, a suburb south of Houston. The land is located on County Road 220. Trans Global Solutions is an industrial developer and transportation services provider. The company operates in several refineries, chemical plants, ports and terminals, and manages rail operations and rail car storage at Cedar Crossing in Baytown. John Ferruzzo and Joel Michael of NAI Houston represented Trans Global in the transaction. Bob Peltier of Bob Peltier & Associates represented the seller, Angleton Family Partnership.
DALLAS — PM Realty Group has purchased One Hanover Park, an eight-story office building located at 16633 North Dallas Pkwy. in Dallas. The 195,894-square-foot property was built in 1998 and includes a three-level parking garage. The Class A office building was 82 percent occupied at the time of sale, with floor plates averaging 25,000 square feet. Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE arranged the transaction on behalf of the seller, a partnership between Cawley Partners and Stockbridge Capital.
BEE CAVE, TEXAS — Silverado Memory Care Community in Bee Cave, a suburb of Austin, will open Oct. 16 with a ribbon-cutting ceremony that will include residents and Texas State Rep. Paul Workman. Construction on the property began last year and more than 20 residents with memory impairments already live in the community, which is located at 14058 A. Bee Cave Pkwy. in Bee Cave. The property can accommodate up to 90 residents. The Bee Cave location is Silverado’s second in the Austin area. Amenities include memory boxes to help residents find their rooms, along with gardens, putting greens and walking paths.
GRAPEVINE, TEXAS — America’s Best Contacts & Eyeglasses has leased a 4,610-square-foot space at Grapevine Towne Center, located at 1217 W. Highway 114 in Grapevine, a suburb of Dallas. Other tenants at the location include Target, Ross Dress for Less, Bealls, Office Depot and Cost Plus World Market. America’s Best Contacts & Eyeglasses is headquartered in metro Atlanta and has more than 350 locations across the United States. Dawn Greiner and Ryan Johnson of SRS Real Estate Partners, along with Kathryn Bieber Knoll of Cassidy Turley, represented the tenant in the transaction. Matt Luedtke of The Weitzman Group represented the landlord, Grapevine/Tate Joint Venture.
HOUSTON — Mitsubishi Caterpillar Forklift America Inc. has expanded, moving into 15,870 square feet of warehouse space located at 1812 Brittmoore Road, Suite 200, in Houston. Jon L. Michael and Ed Bane of NAI Houston arranged the transaction on behalf of the landlord, IndCor Properties Inc. Jeff Klaasen of Kwekel Cos. represented the unnamed tenant.
AUSTIN — True Food Kitchen restaurant has signed a 7,000-square-foot lease on the ground floor of the Seaholm Residences, a 30-story condo residential tower under construction as part of the Seaholm Power Plant development in Austin. The project developers include CIM Group and Seaholm Power LLC. True Food Kitchen is a restaurant developed through a partnership between Fox Restaurant Concepts and Dr. Andrew Weil, an author on holistic health. Its lead chef is Arik Markus and the restaurant is expected to open in 2015. The Seaholm Power Plant project is the redevelopment of a 1950s power plant. When finished, the project will include 11,000 square feet of restaurant space and 3,500 square feet of public space. Construction began in April 2013 and is expected to be complete in the second quarter of 2015. The project is located on the southwestern edge of downtown Austin, bounded by Cesar Chavez Street, West Avenue, 3rd Street, Seaholm Drive and the A&NW rail line.