LEAGUE CITY, TEXAS — Slingerland Properties LLC has purchased a 7,500-square-foot industrial building in League City. The property is located at 1205 Butler Road in the Brittany Business Park. Taylor Schmidt and Reed Vestal of TNRG brokered the transaction.
SUGAR LAND, TEXAS — NAI Houston has arranged the lease extension and expansion of a 74,100-square-foot space in Sugar Land. Pharmedium Services LLC will occupy the space located at 12620 West Airport Blvd. Sugar Land is a suburb 20 miles southwest of Houston. Ed Bane and Jon Michael of NAI Houston represented the landlord, Cobalt Capital partners.
DALLAS — SkyWalker Property Partners has sold the 111-year-old Hughes Brothers Candy Factory in Dallas to Flint Hills Development Group. The property is located at 1401 Ervay St. in the Cedars neighborhood of Dallas, which is just south of downtown. The factory opened in 1903 and closed in the 1930s, later becoming a production site for ice cream cones. The structure was shuttered in 2000. It sits near several entertainment destinations in an area that has gentrified over the last several years.
MCKINNEY, TEXAS — Marcus & Millichap has arranged the sale of a 9,026-square-foot Dollar General located in McKinney. Chance Hales and Vincent Knipp of Marcus & Millichap’s Fort Worth office secured and represented the buyer. The store is located at 3717 East University Drive in McKinney. The property has a corporate, 15-year triple net lease, which began in February 2014. Terms of the net lease include a 10 percent rent increase at the beginning of each option period.
THE COLONY, TEXAS — Playtrics LLC has leased a 3,407-square-foot space at Austin Ranch, a mixed-use development located in The Colony. Austin Ranch is located at the southeastern corner of Windhaven Parkway and Saintsbury Drive. Neighboring tenants include Zen Bar, Saintsbury Tavern, Café Mila, Café Gecko, The Doggie Oasis, Austin Ranch Chiropractic and Corbett Dentistry. Carissa Brown and Tyler Isbell with SRS Real Estate Partners represented the landlord, Billingsley Co., in the transaction. Playtrics is a triathlon and bicycle store with four locations in north Texas.
SAN ANTONIO — CBRE has arranged $60.5 million in financing for Alamo Ranch, a 465,000-square-foot, Class A shopping center in San Antonio. CBRE worked on behalf of RioCan REIT to secure the non-recourse loan. The loan is for five years and is LIBOR based. It was secured through Capital One Bank and is fixed through a hedge at 3.45 percent. Scott Lewis, Greg Greene and Matt Ballard with CBRE’s Dallas office originated and secured financing on behalf of the borrower. Alamo Ranch is shadow-anchored by Target, Lowe’s Home Improvement and JC Penney. The property is 93 percent occupied and includes an assortment of national, regional and local tenants. The property is located 14 miles west of downtown San Antonio at the intersection of Loop 1604, State Highway 151 and Culebra Road.
HOUSTON — HFF has arranged the sale of a three-building industrial portfolio totaling 243,100 square feet in Houston. HFF marketed the properties on behalf of the seller, EastGroup Properties. Cabot Properties Inc. purchased the assets for an undisclosed amount. The portfolio consists of Clay-Campbell I and II in northwest Houston and Kirby Business Center in south Houston. All three properties were 100 percent leased at the time of sale. Clay-Campbell I and II are located at 4300-4320 and 4444-4456 Campbell Road near Highway 290 and Beltway 8. They were completed in 1982 and both buildings have 58,846 square feet of space. Kirby Business Center is located at 9350-9370 South Point Drive, just south of NRG Stadium and the Texas Medical Center. The building contains 125,408 square feet and was completed in 1980.
AUSTIN — DivcoWest has purchased Lakewood Center and The Park, two office complexes located in Austin’s northwest submarket. The projects contain three buildings totaling 185,000 square feet of Class A office space. Lakewood Center consists of two buildings located on Highway 360, one with 48,000 square feet and the other with 44,000 square feet. The Park, located on Highway 1, consists of one building with 93,000 square feet.
DALLAS — Law firm Lewis Brisbois Bisgaard & Smith LLP has leased 30,073 square feet at 2100 Ross Ave. in Dallas. Randy Cooper, Craig Wilson, Frank McCafferty and Jonathan Larsen of Cassidy Turley represented the law firm. The property is owned by Atlanta-based Cousins Properties. Cynthia Cowen and William Brokaw of Cushman & Wakefield represented the landlord. The building consists of 33 stories and includes a conference center that seats 175, cafes, a fitness center and sky bridge pedestrian system.
RICHARDSON AND CARROLLTON, TEXAS — HFF has arranged $18.8 million in acquisition financing for a six-property, 16-building industrial portfolio totaling 462,618 square feet in the north Dallas area. HFF worked on behalf of the borrower, Red Tail Acquisitions, to secure the 10-year, fixed-rate loan through a correspondent life insurance company. Loan proceeds were used to purchase the portfolio. HFF also represented the seller. The portfolio consists of 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, along with 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrollton, Texas. The properties are located near I-635 and Highway 75. The properties are 87 percent leased overall to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corp. of America, SKH Beauty Inc. and All Sorts Mailing Services Inc.
