AMARILLO, TEXAS — Marcus & Millichap has brokered the sale of two multifamily properties in Amarillo, the 195-unit Lighthouse Apartments and the 216-unit Canyon Ranch. Lighthouse Apartments is located at 4515 S. Virginia St., and Canyon Ranch is located at 4615 S. Virginia St., both in proximity to I-27, I-40, Amarillo College and West Texas A&M University. Both complexes are of garden-style construction and offer one- and two-bedroom residences. Tommy Lovell III and Kim Westcott of Marcus & Millichap marketed the assets on behalf of the seller, a financial institution. Lovell and Westcott also procured the buyer, a limited liability company.
Texas
DALLAS — Cassidy Turley has arranged a 99,811-square-foot industrial lease in Dallas for Bigs Packaging & Lumber LLC, a service provider for the logging and lumber industries. The tenant will occupy space within City Warehouse, a 65-acre industrial park located at 5200 E. Grand Ave. Blake Anderson and David Eseke of Cassidy Turley represented Bigs Packaging & Lumber in the negotiations. Canon Shoults and Joshua Barnes of Holt Lunsford Commercial manage leasing at City Warehouse.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. has arranged a $5.8 million loan for the acquisition and redevelopment of a 30,000-square-foot office building in west Houston. Constructed in 2002, the Class A, tilt-wall facility is located on a three-acre parcel in Westway Business Park. Matt Franke and Larry Peters worked on behalf of the borrower, GE Oil & Gas Inc., to arrange the 90 percent loan-to-value financing through a regional bank.
FLOWER MOUND, TEXAS — Moviehouse & Eatery is coming to Lakeside DFW, Realty Capital Management LLC’s master-planned, mixed-use community in the Dallas/Fort Worth suburb of Flower Mound. Construction is underway on a new 45,000-square-foot facility that will feature eight auditoriums, a chef-prepared menu, professional wait staff and bar/lounge area. Moviehouse & Eatery, which is based in Austin, owns and is developing the property under Realty Capital Management’s master plan guidelines. The general contractor on the project is Blalock Building Co. At full build-out, the 150-acre Lakeside DFW will include 2,200 multifamily units and 705,000 square feet of commercial space.
IRVING, TEXAS — General contractor Speed Fab-Crete has broken ground on a new 13,000-square-foot corporate headquarters in Irving for Davis Crane Service, a supplier and operator of hydraulic and conventional motor cranes. Located at 1212 N. Loop 12, the $2 million project includes a two-story building of concrete and steel, as well as new parking and paving, sidewalks and utilities. Construction is slated for completion in December of this year. Callahan & Freeman Architects is serving as architect for the property, and other team members include Civil Point Engineers Inc., Callahan Structural Engineers and Fratto Engineering Inc.
GRAHAM, TEXAS — Marcus & Millichap has brokered the sale of First Texas Plaza, a 9,500-square-foot retail property in Graham, a city located about 40 miles southeast of Lubbock. Constructed in 2008, the strip shopping center is located on one acre at 2110 Highway 16 South. The facility is fully leased to Hibbett Sports, AT&T, The Cash Store and Graham Nail & Spa. All of the tenants lease their respective spaces on a triple-net basis. Philip Levy and Chris Gainey of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Levy and Gainey also secured the buyer, a private investor.
HOUSTON — Moody Rambin has arranged a 9,969-square-foot office lease in Houston for Document Technologies, a provider of document outsourcing services primarily for law firms and corporations. The tenant will occupy space within the 2550 North Loop West building, an eight-story, 155,061-square-foot property located near the interchange of I-610 and U.S. Highway 290. Terri Torregrossa and Kurt Kistler of Moody Rambin represented the building owner and landlord, Oxley Leasing 2550 LLC, in the negotiations. Ryan Barbles of JLL represented the tenant.
HOUSTON — Full-service real estate company Hayman Co. has acquired The Lodge at Shadowlake, a 518-unit apartment property in Houston. The garden-style complex offers one- to three-bedroom apartments, plus amenities such as a swimming pool, fitness center, clubhouse, movie theater and sand volleyball court. The community is situated at 12360 Richmond Ave., in proximity to the Westchase and Energy Corridor submarkets. Hayman Co. plans to implement its value-add program, remodeling and renovating unit interiors, building exteriors and communal areas of the property.
HOUSTON — The Richland Companies has acquired Fairmont PH Business Park, a two-building, 66,654-square-foot industrial complex in Houston. Situated on nearly five acres at 11810 Fairmont Parkway and 13501 Bay Area Blvd., the property is directly parallel to the Port of Houston and located in proximity to I-45, the Sam Houston Tollway, State Highway 146 and State Highway 225. Built in 2008, the tilt-wall structures offer 28-foot ceiling clear heights, dock-high loading capabilities and ample parking. The complex was fully leased at the time of the sale to four tenants, Worley Parsons, Orr Safety, GSA and Coastal HVAC Supply. Fairmont PH Business Park is the 13th property in The Richland Companies’ Houston portfolio, which now totals approximately 1.6 million square feet.
DALLAS — Cassidy Turley has arranged a 59,580-square-foot industrial lease in Dallas for Fleetpride, a manufacturer of heavy-duty truck and trailer parts. The tenant will occupy space at 2007 Royal Lane, near the interchange of I-635 and U.S. Route 77. Frank McCafferty, Blake Anderson, Craig Wilson, Randy Cooper, Kris Knapstein and David Eseke of Cassidy Turley represented Fleetpride in the negotiations with the unnamed landlord.