BAYTOWN, TEXAS — TGS Cedar Port Partners LP has acquired the assets of Cedar Crossing Industrial Park in Baytown. The acquisition includes 10,897 acres, a 312,000-square-foot warehouse and an industrial complex including a shortline railroad with 57 miles of track. The industrial park is served by both Union Pacific Railroad and BNSF and has access to the Chambers County Improvement District barge dock on Cedar Bayou. TGS Cedar Port is the largest industrial park in the greater Houston market. The TGS Cedar Port Railroad has the capacity to store more than 2,000 rail cars and the partnership intends to expand capacity to 3,000 cars by 2018. Cushman & Wakefield represented the seller in the transaction.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Cliff Maus Village Apartments, a 110-unit apartment complex in Corpus Christi. Mike Moffitt Jr. and Zar Haro of Marcus & Millichap’s Austin and San Antonio offices marketed the property on behalf of the seller, a partnership. Moffitt and Haro also secured the buyer, a private investor. Cliff Maus Village Apartments was built in 1968 and is located at 1458 W. Point Road. The 110-unit complex consists of 24 two-bedroom and 86 three-bedroom floor plans. Amenities include a basketball court, playground, community center, laundry facilities and courtyard.
FORT WORTH, TEXAS — HFF has secured joint venture equity for the development of Waterside, a $75 million mixed-use development in Fort Worth. HFF worked on behalf of the developer, Trademark Property Co., in sourcing the capital from Sarofim Realty Advisors. Equity proceeds will be used to develop the first phase of the project. Waterside will be anchored by a Whole Foods and will be located on 52 acres at the intersection of Bryant Irvin Road and Arborlawn Drive on the former Lockheed Martin Recreation Association site. The development will include 1.5 miles of Trinity River waterfront and 190,000 square feet of retail and restaurant space.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co. has secured a fixed-rate loan for the 356-unit Oaks on Bissonnet Apartments located in southwest Houston. The buyer plans to renovate both the interior and exterior of the property.
FORT WORTH, TEXAS — The Cheesecake Factory will open a new location in downtown Fort Worth’s Sundance Square on Dec. 9. The new restaurant, located at 455 Commerce St., will include an 8,700-square-foot dining room with seating for up to 230 people. The restaurant is expected to bring a total of 245 new jobs and $10 million in annual revenue.
EL PASO, TEXAS — Hunt Metro 31 LLC will develop a 31-acre mixed-use project at the former Northpark Mall site in Northeast El Paso. The project, known as Metro 31, will consist of 325 apartments, 80 units of senior living and 48 live/work units. The project will be located at the corner of Dyer Street and Diana Drive. and will include Sun Metro’s BRIO bus rapid transit station along with 135,000 square feet of retail space. A grocery store will anchor the project, which will also include up to 100,000 square feet of office space.
HOUSTON, CORPUS CHRISTI, CYPRESS, HUNTSVILLE & SPRING, TEXAS — Baker Katz has arranged the lease of five Chipotle locations in Texas. The restaurants range in size from 2,000 to 3,000 square feet. The Chipotle restaurants are located in Corpus Christi, Houston, Cypress, Huntsville and Spring.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of University Village Apartments, a 15-unit apartment property in Fort Worth. Trey McGhin of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. A Fort Worth-based limited liability company purchased the property in a 1031 tax-deferred exchange. Mason Green of the firm’s Fort Worth office represented the buyer. University Village Apartments is located at 3123-3125 S. University Drive and is within walking distance of Texas Christian University. The property was built in 1959 and sits on .3 acres. It spans 8,800 square feet with an average unit size of 586 square feet.
TULSA, OKLA. — Eastern Union Funding has arranged a $3.3 million acquisition loan for financing of The Landing, an apartment complex located at 9743 E. 12th St. in Tulsa .The complex includes 16 two-story buildings totaling 126 units. Built in 1973, the property includes a mix of one- and two-bedroom units ranging in size from 700 to 1,000 square feet. Motti Blau of Eastern Union Funding arranged financing through Arbor Commercial Mortgages. The transaction is a non-recourse, 10-year loan with 4.5 percent interest.
DALLAS — HFF has arranged the sale and financing of 3811 Turtle Creek, a 296,000-square-foot Class A office tower in Uptown Dallas. HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors. KBS Capital Advisors purchased the property for an undisclosed amount. HFF’s debt placement team also secured a seven-year, 3.6 percent, fixed-rate loan on behalf of the new owner through a life insurance company. The property sits on five acres at the intersection of Turtle Creek Boulevard and Blackburn Street near the Turtle Creek Village mixed-use development, which is under construction. The 21-story property was recently renovated and features a gym and 899-space parking garage. The building was 81 percent leased at the time of sale to tenants including Eagle Materials Inc., Prosperity Bank, Estes Okon Thorne & Carr and Gables Residential.