CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of three multifamily properties totaling 295 units in Corpus Christi. The complexes include the 96-unit Woodlake Apartments at 1901 Rodd Field Road; the 89-unit Bluff Manor Apartments at 2360 Waldron Road; and the 110-unit Country Estate Apartments at 3720 Brookside Drive. Jeff Smith of Marcus & Millichap marketed the assets on behalf of the seller, a limited liability company, and also procured the buyer, another limited liability company.
Texas
SAN ANTONIO — Transwestern has brokered the sale of Texas Center for Athletes, a 128,347-square-foot medical office building in San Antonio. Located at 21 Spurs Lane within the South Texas Medical Center, the four-story, Class A property was 98 percent leased at the time of the sale. Built in 2006, the facility includes a surgery center, pharmacy, therapeutic spa and on-site deli. Alan Grilliette and Russell Noll of Transwestern represented the seller, Sports SA Holdings LP, in the transaction. A subsidiary of Senior Housing Property Trust acquired the asset and retained Transwestern to lease the building.
ARLINGTON, TEXAS — Bob Moore Construction has completed a new 57,000-square-foot industrial facility in Arlington for Dura-Tech Processes Inc., a provider of wear- and corrosion-resistant plating for the manufacturing and material handling industries. The property features a custom-engineered containment system, extended catwalk to provide access to elevated equipment, interior loading dock, backup generator and employee locker room. Bob Moore Construction served as general contractor on the project, and Alliance Architects worked as the architect.
DALLAS — Mercer Co. has brokered the sale of a 37,530-square-foot industrial property in Dallas. Located at 9136 Viscount Row, the distribution facility features two dock-high doors and is in proximity to Loop 12 and State Highway 183. Jeremy Mercer of Mercer Co. represented the seller, Eric Hohn, in the transaction. Alfred Goh of KC Cheah & Pacific Realty represented the buyer, FL Shih Investment Corp.
IRVING, TEXAS — Full-service brokerage firm ARA has brokered the sale of Lincoln Las Colinas, a 784-unit multifamily property in Irving. Constructed in two phases in 2010 and 2013, the community includes one- to three-bedroom apartments averaging 922 square feet, as well as a swimming pool, dog park, coffee bar, fitness center and clubhouse. The complex was 96.3 percent occupied at the time of the sale, which was the largest multifamily transaction in Texas history, according to ARA. Brian O’Boyle Sr., Brian Murphy and Brian O’Boyle Jr. marketed the property on behalf of the sellers, Lincoln Property Co. and Sarofim Realty Advisors. The asset was acquired by institutional investors advised by J.P. Morgan Asset Management.
LEWISVILLE, TEXAS — Cencor Realty Services will break ground later this week on the first phase of a 350,000-square-foot Kroger-anchored shopping center in the Dallas/Fort Worth suburb of Lewisville. The first phase will include space for the 123,000-square-foot grocery anchor, as well as 40,000 square feet of in-line retail space and several pad sites for restaurants. The Weitzman Group is leasing the property. Kroger is slated to open in the first quarter of 2015. Located on the southwest corner of SH-121 and Josey Lane, the center will serve the Castle Hills master-planned community and surrounding areas.
HOUSTON — OliverMcMillan has leased space within its 15-acre River Oaks District mixed-use development to luxury retailers Cartier, Dior, Hermès and Tom Ford. Jeweler and watchmaker Cartier will operate a 6,040-square-foot store, while apparel, accessory and footwear retailer Dior will operate a two-story, 9,056-square-foot store. Clothing and accessory retailer Hermès will operate a two-story, 10,117-square-foot flagship location, and accessory retailer Tom Ford will operate a 4,906-square-foot store. OliverMcMillan broke ground on River Oaks District’s 252,000 square feet of retail and restaurant space in July 2013 and expects the development to open in spring 2015. River Oaks will also include 92,000 square feet of office space and 279 residential units.
HOUSTON — NAI Houston has arranged an 18,850-square-foot industrial lease in Houston for Binswanger Glass Co., a manufacturer and installer of glass for residential, commercial and automobile uses. The tenant will occupy space at 3133 McKinney St. in the East Industrial submarket. John Ferruzzo and Michael Keegan of NAI Houston represented the landlord, St. James Equity Partners LP, in the negotiations. Carlton Anderson of CBRE represented Binswanger Glass.
HOUSTON — HFF has brokered the sale of Colorado Club Apartments, a 300-unit multifamily property in east Houston. Located at 794 Normandy St., the community includes one- and two-bedroom apartments averaging 753 square feet each, plus amenities such as a swimming pool, fitness center and playground. The complex was 98 percent leased at the time of the sale. Chris Curry, Todd Marix, Todd Stewart and Tre Banks of HFF marketed the asset on behalf of the seller, Cleveland, Ohio-based Capital Equity Group. White Oak Partners LLC, based in Columbus, Ohio, purchased the property.
KINGSVILLE, TEXAS — Domus Development will break ground this month on the 504-bed first phase of Legends Kingsville, a student housing project in the south Texas city of Kingsville. The property, which is scheduled to open in August 2015, will serve Texas A&M University at Kingsville. Reynolds & Lapp Commercial represented Domus in the acquisition of a 20-acre parcel for the development.