MANSFIELD, TEXAS — Inland Real Estate Income Trust Inc. has acquired Mansfield Pointe, a 148,529-square-foot shopping center in the Dallas/Fort Worth suburb of Mansfield, for $28.4 million. Developed in 2008 by Connected Development Services, the property was 97 percent occupied at the time of the sale to tenants including Sports Authority, Bed Bath & Beyond, PetSmart, Party City, Half Price Books, Sleep Experts, Verizon and Massage Envy. An entity controlled by Dallas-based firm The Retail Connection and Plano-based Granite Properties sold the asset. David Disney of Disney Investment Group represented Inland in the transaction. Alan Shor and Chad Bradshaw of The Retail Connection and Paul Bennett of Granite Properties represented the seller.
Texas
ROSENBERG, TEXAS — Bellomy & Co. has brokered the sale of a 33,700-square-foot self storage facility in the Houston suburb of Rosenberg. Operated as Reading Road Self Storage, the property sits on nearly five acres and includes 258 rentable units. Bill Bellomy, Michael Johnson and John Owens marketed the property on behalf of the seller, Katy, Texas-based Reading Road Self Storage Ltd. Bellomy, Johnson and Owens also procured the buyer, Houston-based The Jenkins Organization Inc.
HOUSTON — NAI Houston has arranged a 20,400-square-foot industrial lease in north Houston for Delta Subsea LLC, a provider of remote operational vehicle services and solutions. Constructed in 2012, the facility features 32-foot clear heights and is located at 1616 Southcreek Lane. Delta Subsea will use the building as the headquarters of its Tooling Solutions Division. Dan Boyles Jr. and John Ferruzzo of NAI Houston represented the tenant in the negotiations. Mike Spears of National Realty Group represented the unnamed landlord.
HOUSTON — Marcus & Millichap has brokered the sale of a 2,000-square-foot net-leased retail property in Houston currently occupied by Smoothie King. The store is located at 913 Westheimer Road, in proximity to I-45 and the Southwest Freeway. Derek Hargrove of Marcus & Millichap represented the unnamed seller in the transaction.
ARLINGTON, TEXAS — Colliers International has arranged an 821,502-square-foot industrial lease in Arlington for home goods retailer Williams-Sonoma Inc. The tenant will use the property, which is located at 4900 Sherry St., as a distribution center. Exeter Property Group constructed the facility last year on a speculative basis. Tom Pearson and Chris Teesdale of Colliers International represented Williams-Sonoma in the negotiations. Dave Anderson of CBRE represented the Exeter Group.
HOUSTON — Developer Western International has purchased 5.2 acres of land in of Houston’s Energy Corridor submarket for the construction of two new hotels. The properties, one of which will be operated under the Courtyard by Marriott brand and the other under the Hampton Inn & Suites brand, will each include 135 rooms. Located within the Ten Oaks development, a project of Wolff Cos. that is situated at the intersection of Barker-Cypress Road and Park Row, the hotels will be in proximity to the Texas Medical Center – West Campus and Texas Children’s Hospital, as well as major employers Wood Group, Mustang Engineering and Sercel. Western International plans to break ground on the properties this summer.
ALVARADO AND JOSHUA, TEXAS — Marcus & Millichap has brokered the sale of two manufactured home communities in the far south suburbs of Fort Worth. The properties include Pleasant Oaks Mobile Home Park, a 44-unit community located at 6133 County Road 1022 in the city of Joshua, and Walnut Creek Mobile Home Park, a 64-unit community located at 3600 N. Cummings Drive in the city of Alvarado. Nicholas Ling of Marcus & Millichap marketed the properties on behalf of the seller, a limited liability company, and also secured the buyer, another limited liability company.
HOUSTON — NAI Houston has brokered the sale of two industrial properties in Houston totaling 18,000 square feet. The facilities include a 6,000-square-foot structure at 13727 FM 529 and a 12,000-square-foot structure at 13731 FM 529. The buildings are part of Atco Industrial Park, which is located along FM 529 between North Eldridge Parkway and Jackrabbit Road. John Ferruzzo of NAI Houston represented the buyer, 13727-13731 FM 529 LLC, in the transaction. Eric Hughes of Centermark Commercial Real Estate represented the seller, ATCO-Valley Plaza LLC.
FLOWER MOUND, TEXAS — Stage Equity Partners LLC has acquired two adjacent medical office buildings totaling 34,910 square feet in the northern Metroplex suburb of Flower Mound. The facilities, located at 4921 and 4951 Long Prairie Road, are fully leased to seven different medical practices, including Texas Health Resources, USMD, OrthoTexas and Flower Mound Vein Center. Stage Equity Partners, a Chicago-based healthcare real estate investment firm, purchased another medical office building in the southern Metroplex suburb of Cleburne. The principals of OrthoTexas sold the assets in Flower Mound, then leased back the space occupied by their practice. American Momentum Bank provided acquisition financing to Stage Equity Partners for the transaction.
GRAPEVINE, TEXAS — Marcus & Millichap has brokered the sale of two net-leased restaurant properties in the northern Dallas/Fort Worth suburb of Grapevine. The assets include a 9,551-square-foot building, located at 1285 S. Main St. and occupied by Fireside Pies; as well as a 5,595-square-foot building located at 1265 S. Main St. and occupied by Winewood Grill. The restaurants are part of the Grapevine Epicenter development, which is in close proximity to State Highway 114. Jason Vitorino of Marcus & Millichap marketed the properties on behalf of the seller, a local private investor, and also procured the buyer, a limited liability company. Single Purpose LLC will operate the facilities and has guaranteed the leases.