DALLAS — The Cantrell Co. has completed a pair of apartment sales in the Dallas area for California-based investors. The investors have purchased the 200-unit Eagles Landing Apartments in Garland, northeast of Dallas proper, and the 82-unit Buena Vida Apartments in Dallas’ Pleasant Grove neighborhood. Eagles Landing is a Class B property located at 238 E. Oates Road that was bought by Parque Del Sol LP of Dallas. Buena Vida Apartments is located at 2722 S. Buckner Blvd. and was sold to Dallas-based Buena Redevelopment LLC.
Texas
HOUSTON — Houston-based Baker Katz has arranged the lease of a 40,000-square-foot Dave & Buster’s in Houston. The property is located in the Baybrook Mall expansion project and will be the third Dave & Buster’s location in the Houston area. Jamie Weaver and Jason Baker of Baker Katz, along with Ross McCook and Larry Leon of Venture Commercial, represented the tenant. Greg Sullivan represented the landlord. Dave & Buster’s was founded in Dallas in 1982.
MISSOURI CITY, TEXAS — Bellomy & Co. has brokered the sale of Bankers Mini Storage in Missouri City. The 479-unit facility includes 92,733 square feet of rentable space. The property has climate-controlled, non-climate, boat and RV storage units. Bankers Mini Storage is located on FM 1092 about 18 miles southwest of Houston. Bill Bellomy, Michael Johnson and John Owens marketed the property on behalf of a Houston-based family partnership. The same group also procured the buyer, a Corpus Christi-based storage operator.
ALEDO, TEXAS — Marcus & Millichap has arranged the sale of a 6,000-square-foot, net-leased property occupied by Dr. Pepper – Snapple in Aledo, 20 miles west of Fort Worth. Chris Gainey and Philip Levy with Marcus & Millichap marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer. The industrial building is located at 700 Bear Cat Road. The lease is a five-year, double-net lease with a corporate guarantee from American Bottling Co., a subsidiary of Dr. Pepper Snapple Bottling Group.
FORT WORTH — CBRE has arranged $58 million in financing for Chesapeake Plaza, a 20-story, Class A office building in Fort Worth. CBRE worked on behalf of the borrower, Hines, while BBVA Compass provided the floating-rate loan. Chesapeake Plaza is a 460,000-square-foot office building with on-site amenities including a gym, café and dining area. The property was built in 2004 as the corporate headquarters for Pier 1 Imports. The seller, Chesapeake Energy, bought the building in 2008 during a time it acquired interests in the Barnett Shale. As part of the sale, the property will be renamed the Pier 1 Imports Building. Greg Greene and Scott Lewis with CBRE’s Dallas office worked on the loan.
WHITE SETTLEMENT, TEXAS — Lee & Associates has arranged the sale of a 45,200-square-foot industrial space located at 801 Ozona Ave. in White Settlement, just west of Fort Worth. Becky Thompson with Lee & Associates’ Dallas/Fort Worth office represented the landlord, Edward Whiting. Transwestern represented the tenant, Traylor Investments Ozona LLC.
CINCO RANCH, TEXAS — ARA represented TA Associates in the sale of Residences at Cinco Ranch, a 300-unit apartment complex just west of Houston. Cinco Ranch is a master-planned community located near the Westpark Tollway and Grand Parkway. The apartment complex was built in 2009 and was 98 percent occupied at the time of sale.
ODESSA, TEXAS — Cross B Development will soon begin construction on Phase I of Parks Bell Ranch, a master-planned community in north Odessa. Plans call for the development to include 850 acres of commercial and residential space. Single-family and multifamily residential developments will anchor the 500,000-square-foot commercial section, but plans also call for small businesses, corporations, restaurants, hotels, retailers and medical clinics. About 200 acres will be reserved for parks, paved trails and green space. Cross B is owned and operated by the Ellen and Larry Bell family.
GARLAND, TEXAS — Cantrell Co. has brokered the sale of the 77-unit Castleglen Townhomes in Dallas. A California-based investment group bought the homes and assumed a Fannie Mae loan. The property was 97 percent leased at the time of sale and sits on just under nine acres at 1004 Castleglen Drive in Garland, northeast of Dallas. Rents range from $710 per month to $1,030 per month. The seller was Tweden Garland Properties LLC of Austin. The townhomes are a mix of two- and three-bedroom units. The average size of the units is 1,079 square feet and the complex was built between 1973 and 1983. Castleglen sits along the service road of Interstate 30 and is also accessible to I-635. Nearby amenities include Audubon Park, Duck Creek Greenbelt Trail and Town East Mall.
MCKINNEY, TEXAS — NAI Robert Lynn represented C-III Asset Management LLC, a subsidiary of C-III Capital Partners, in the sale of an industrial warehouse and distribution center located at 3000 Redbud Blvd. in McKinney, 30 miles north of Dallas. Saskaway Management Group was the buyer. Dave Peterson, Rick Medinis and Mark Miller with NAI Robert Lynn represented C-III in the transaction. The 888,096-square-foot facility sits on 48 acres of land, formerly the headquarters of Blockbuster Inc. The building was sold after sitting vacant for two years.