AMARILLO, TEXAS — Quantum Real Estate Advisors Inc. has brokered the sale of an 8,000-square-foot Family Dollar location in Amarillo for $1.3 million. The build-to-suit facility is net-leased to Family Dollar for the next 10 years. Jordan Kaufman of Quantum represented the seller, a private developer based in Houston. Chad Firsel, also of Quantum, represented the buyer, a California-based private investor.
Texas
FRISCO, TEXAS — Bradford Commercial has arranged an 18,000-square-foot lease for the new headquarters of Skinny IT Corp., a wireless technology and integration company, in Frisco. The tenant will relocate to the Class A flex space, located in Frisco Commerce Center Building B at 10570 John W. Elliott Drive, from its previous 3,000-square-foot office in Addison. The new location is within a 281,053-square-foot complex in close proximity to the Dallas North Tollway. Nick Talley represented Skinny IT in the negotiations, while Bob Hagewood of Stream Realty Partners LP represented the landlord, SeaCal Frisco LLC.
RICHARDSON, TEXAS — Jones Lang LaSalle has brokered the sale of Arboretum Estates, a 338-unit apartment property in the Dallas suburb of Richardson. The community, which was 95 percent occupied at the time of the sale, offers one- to three-bedroom layouts plus amenities including two swimming pools, a fitness center, business center and pet park. Select units feature fireplaces, vaulted ceilings and walk-in closets. The complex is located at 411 Buckingham Road, in proximity to the metro area’s telecom corridor. Jeff Price and Bill Simmons of JLL represented the seller, The Connor Group, in the transaction. CAF Capital partners purchased the asset.
AUSTIN, TEXAS — MIG Real Estate has acquired Adagio Swenson Farms, a 336-unit multifamily community in the Far North submarket of Austin. The complex offers one- and two-bedroom floor plans averaging 1,041 square feet, as well as amenities such as a swimming pool, barbecue area, fitness center and clubhouse. Located at 413 Swenson Farms Blvd., the property is 15 miles from downtown Austin and in close proximity to the city’s technology corridor and attractions including Lake Pflugerville, Gilleland Creek Park and Blackhawk Golf Club. Pat Jones of ARA Real Estate Investment Services represented the undisclosed seller in the transaction, while Newport Beach, Calif.-based MIG Real Estate represented itself. National operator Alliance Residential will manage the property going forward.
HOUSTON — CBRE has brokered the sale of The Pines Business Park, a 139,330-square-foot industrial property in Houston. Constructed in 2009, the three-building, Class A complex features 20- to 24-foot clear heights and was fully leased to multiple tenants at the time of the sale. The asset, located on Budde Road, is in close proximity to Interstate 45 and the future ExxonMobil campus. Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni, Tom Lynch and Paul Segreto of CBRE, along with Kevin Wyatt of Lincoln Property Co., represented the seller, a private fund advised by Crow Holdings Capital Partners LLC and Lincoln Property Co.
HOUSTON — NAI Houston has brokered the sale of a 27,160-square-foot industrial building in Houston. The warehouse/distribution facility features three grade-level doors and approximately 2,000 square feet of office and showroom space. Located at 2412 Texas Ave., the asset is in the Downtown Industrial submarket. John Ferruzzo and Chris Kugle of NAI Houston represented the seller, Tool Mart Inc. Tom Dosch and Tim Dosch of Apartment Realty Advisors represented the buyer, JLB EADO LP.
DALLAS — Bell Partners Inc. has acquired Alta West Davis Apartments, a 207-unit multifamily complex in the Bishop Arts district of Dallas. Completed in 2013, the community offers one- and two-bedroom layouts plus amenities such as a resort-style pool, fitness center and resident lounge. Apartments feature stainless steel appliances, natural wood cabinetry, walk-in closets, washers and dryers. New ownership will manage and rebrand the property, which was 90 percent leased at the time of the sale, as Bell Bishop Arts.
DALLAS — Marcus & Millichap has brokered the sale of Sienna Palms, a 152-unit multifamily property in Dallas, for $3.7 million. Constructed in 1980, the 14-building, garden-style community offers one- and two-bedroom floor plans averaging 840 square feet. Al Silva of Marcus & Millichap represented the seller, Cash Investments of El Paso, in the transaction. The purchaser, a Texas investment group also secured by Silva, plans improvements for the complex.
TERRELL, TEXAS — The firm of Henry S. Miller has brokered the sale of a 59,800-square-foot industrial building in Terrell, approximately 30 miles east of Dallas. The property, located at 100 FM 148, offers easy access to U.S. Highway 80. Preferred Powder Coatings, a provider of powder coating and paint services for industrial and military clients, purchased the facility and will occupy its entirety. Scott Axelrod of Henry S. Miller represented the buyer in the transaction. Terrell Economic Development Corp. sold the asset.
AUSTIN, TEXAS — A joint venture between MedProperties Holdings LLC and The LaSalle Group will break ground this month on Autumn Leaves of North Austin, a 46-bed memory care residence in Austin. The 27,000-square-foot property, located in close proximity to State Highway 183, is slated for completion within 12 months. Texas Gulf Bank provided construction financing for the project, and The LaSalle Group will operate the facility upon opening.