ROCKWALL, TEXAS — Marcus & Millichap has arranged the sale of The Towers Self Storage, a 123,619-square-foot self-storage facility located in Rockwall, a suburb of Dallas. Brandon Karr and Danny Cunningham of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Karr also represented the buyer, a limited liability company. The Towers Self Storage is located at 159 Riding Club Road. The facility contains 191 climate-controlled units, 160 drive-up units, 58 interior units, 90 warehouse units, seven office spaces and 25 boat/RV spaces. The property also features roll-up doors, 36 cameras, keypad entry, perimeter fencing and lighting.
FRISCO, TEXAS — HFF has arranged the sale of Eldorado Market Place, a 162,331-square-foot grocery-anchored retail center in Frisco, a suburb north of Dallas. HFF marketed the property on behalf of the seller, WD Eldorado & Tollway LP, an affiliate of Duggan Realty Advisors LLC and Waitt Investments. An affiliate of Fidelis Realty Partners LTD purchased the asset for an undisclosed amount. Eldorado Market Place is located at the northwest corner of the Eldorado Parkway and the Dallas North Tollway. The property was built in 2008 and is 99 percent leased to 35 tenants including Market Street, PetSmart, RE/MAX, The UPS Store and AT&T. Doug Hazelbaker and Ryan Shore of HFF represented the seller.
PORT ARTHUR, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million interest-only acquisition loan for a 226-unit apartment complex in Port Arthur. Michael Laurencelle and Jonathan Vollinger of MMCC’s Austin office arranged the financing. Mark Diebold of MMCC’s San Antonio office marketed the property on behalf of the seller, a limited liability company. Diebold also secured the buyer, another limited liability company. The property was built in two phases in 1968 and 1972 and underwent a $2 million renovation in 2013. The complex was 78 percent occupied at the time of sale.
ALVARADO, TEXAS — Janet Formhals of Hurst has sold 10 acres of land located at 3100 FM 2738 in Alvarado to Celida Delgado, a private investor. The property is located 27 miles south of Fort Worth. Wayne Burgdorf of Coldwell Banker Commercial Alliance DFW represented the seller. Rico Francisco of Milenio Real Estate represented the buyer.
HOUSTON — NAI Houston represented Profill Holdings LLC in the renewal of the company’s lease of 57,098 square feet at 7200 Gateway Drive in Houston. John Ferruzzo and Darren O’Conor of NAI Houston represented the tenant, Profill Holdings LLC. Jude Fillipone of Transwestern represented the landlord, Teachers Insurance and Annuity Association of America (TIAA-CREF).
TYLER, TEXAS — Monmouth Real Estate Investment Corp. has acquired a 163,378-square-foot industrial building located at 800 Lindale Industrial Parkway in Lindale, a suburb of Tyler, for $10.3 million. The property is net leased for 10 years to FedEx Ground Package System Inc. and sits on 18 acres near I-20 and the Union Pacific rail hub.
DALLAS — Greystone has provided a $19.5 million bridge loan for the acquisition of two apartment complexes in Dallas. JD Stettin of Greystone’s New York office originated the loan. The interest-only bridge loan for the properties, known as Vineyards and Villa Jolla, includes a two-year term for the borrower, Dallas-based Presidium Group. Presidium plans to invest more than $5 million in capital improvements for both properties for interior and exterior upgrades. Presidium will pursue long-term HUD financing through Greystone.
ROANOKE, LITTLE ELM AND ROCKWALL, TEXAS — Venture Commercial has arranged land transactions in the north Texas cities of Roanoke, Little Elm and Rockwall. Venture’s land division represented developer MQ Development Partners in the sale of a 2.2-acre pad site at the Roanoke Gateway development, located on the northwest corner of State Highways 170 and 114 in Roanoke. Ken Reimer, Edward Bogel and David Davidson of Venture Commercial represented MQ Development in the transaction. Kyle Anz of HGA Holdings represented the buyer, which will develop the site for an On the Border Mexican Grill & Cantina. Venture also arranged the sale of two pad sites in Little Elm. Clay Mote and Davidson, of Venture, represented the seller, Providence/380 Partners Ltd. in both transactions. The sites will be developed into an automotive business and an emergency care clinic. In the third transaction, Venture arranged the sale of a three-acre tract of land in Rockwall. Mote represented the seller in the transaction. Gary Halbrooks of Venue Properties Inc. represented the buyer, Fenton Motors, which will develop the property into an automotive dealership.
HOUSTON — NAI Houston has represented Axis Texas Development Group LLC in the sale of an industrial building located in the 529 Business Commerce Park, an industrial park in Houston comprised of eight buildings. The 4,500-square-foot building is the first of eight buildings to sell in the 529 Business Commerce Park, an Adkisson Development project. John Ferruzzo and Travis Land of NAI Houston represented the seller, Axis Texas. Sara Allen of Edge Realty Partners represented the buyer, Wymer Management Inc.
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.