Texas

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ROWLETT, TEXAS — Marcus & Millichap has arranged the sale of a 4,965-square-foot McDonald’s in Rowlett. Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Jason Vitorino and Jared Aubrey of the firm’s Dallas office procured the buyer, also a limited liability company. The McDonald’s is located at 8503 Lakeview Pkwy. near the Lakeview Square shopping center. Nearby tenants include Albertsons, Tom Thumb, Starbucks and Chase Bank.

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ARLINGTON, TEXAS — UCR Investment Sales has arranged the sale of Arlington Park Square, a 94,125-square-foot retail center located in Arlington. The property is located at the northeast corner of South Cooper Street and West Arbrook Boulevard. The Parks at Arlington Mall anchors the property. Fitness Connection is the shadow anchor. The property was 47 percent occupied at the time. Five retail pad sites, including ground leases for Jack in the Box, Rockfish Seafood Grill and Raising Cane’s, were also part of the transaction. Adam Howells, Jace Hinderland and Jessica Donnelli of UCR marketed the property on behalf of the Dallas-based seller. Bo Avery, president of TriMarsh Properties, purchased the center for an undisclosed sales price.

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SUGAR LAND, TEXAS — Dollar Tree and Five Below have signed new leases at Colony Square, a retail center in Sugar Land. Colony Square is anchored by a Lowe’s and is located across from First Colony Mall. The center includes retailers such as Academy Sports + Outdoors, PetSmart, Toys ”R” Us, Ashley Furniture HomeStore and Jo-Ann Fabric and Craft Stores. Dollar Tree and Five Below will each occupy 9,900 square feet and will be located between PetSmart and Jo-Ann Fabric and Crafts. Each will open in early 2015.

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AUSTIN — BMC Capital has arranged a refinancing loan for 36 apartment units in the SoCo area of Austin. The borrower used a hard money loan to purchase the units and Hank Crane of BMC’s Austin office arranged the new loan with a lower, long-term fixed interest rate. The new, 10-year loan carries a 5.5 percent interest rate with a 30-year amortization schedule.

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DESOTO, TEXAS — Mark One Capital has arranged financing for the purchase of a four-story, 88-room Holiday Inn Express in Desoto, a suburb of Dallas. Chris Parker and Farhan Kabani of Mark One’s Dallas office arranged the financing. Chris Gomes of Marcus & Millichap’s Dallas office and Allan Miller of the firm’s San Antonio office represented the buyer and the seller in the transaction. The hotel was built in 2006 and renovated in 2012.

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NORMAN, OKLA. — Marcus & Millichap has arranged the sale of Christian Brothers Automotive, a 4,945-square-foot, net-leased property in Norman, Okla. Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a private investor. Steven Schechter of the firm’s Encino office represented the buyer, a personal trust that purchased the property in a 1031 tax-deferred exchange. Christian Brothers Automotive is located at 3050 Yarbrough Way in Norman, just north of Rock Creek Road. The Houston-based company has more than 115 locations in 15 states.

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MCKINNEY, TEXAS — A joint venture between Kensington Realty Advisors and SEDCO Capital has acquired Orchard Park, a seniors housing complex in McKinney, a suburb of Dallas. Orchard Park is a 97-unit assisted living and memory care facility located 30 miles north of downtown Dallas. The property was completed in 2011 and is located near a major hospital.

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THE COLONY, TEXAS — Several new tenants are set to move into Grandscape, a mixed-use development in The Colony. A Hampton Inn & Suites is projected to open in the fourth quarter of 2015, and a Homewood Suites will open in the fourth quarter of 2016. In addition, Cheddar’s Casual Café and Rock & Brews will open in the summer of 2015. Two more restaurants — Hard Eight BBQ and Mi Cocina — will open in the third quarter of 2015.

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DALLAS — NAI Robert Lynn’s retail division has arranged a 45,000-square-foot retail lease to Texas Family Fitness at 910 W. Parker Blvd. in Plano. Dan Avnery represented the tenant in the transaction. The space is located in the Plano Towne Square shopping center near anchor stores such as Inwood National Bank, Rent-A-Center and Dollar General. The shopping center was originally built in 1985 and is located at North Central Expressway and Parker Boulevard. This will be Texas Family Fitness’ second location in Plano.

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