JARRELL, TEXAS — Bellomy & Co. has brokered the sale of a 16,050-square-foot self storage facility in Jarrell, a city approximately 40 miles north of Austin. Operated as Sonterra Self Storage, the property includes 135 rentable units. Bill Bellomy, Michael Johnson and John Owens of Bellomy & Co. marketed the asset on behalf of the seller, Conroe, Texas-based GGG Investments LLC. David Downs of Jimmy Joseph Realtors represented the buyer, Ally Self Storage LLC of Round Rock.
Texas
AUSTIN, TEXAS — Whiddon Development Inc. has acquired a 14,000-square-foot office building in Austin. The property is located on more than four acres at 1005 E. St. Elmo St., and Whiddon plans to build out the site as an approximately 70,000-square-foot business park consisting of several freestanding buildings. Blair Helgren of Woodland Property Group represented the buyer, and Jonathan Stilley of SBR Associates represented the unnamed seller.
DALLAS — Panther FW Investments LLC, in partnership with Atlas CP, has acquired a five-property flex portfolio in Dallas. The facilities total 303,420 square feet of office and warehouse space in the Valwood and East Brookhollow submarkets. Panther is a private real estate investment firm that focuses on value-add assets for its own account and placement of third-party private equity. Atlas CP is a private real estate investment company that targets institutional-quality, multi-tenant industrial and office assets in the Southern U.S.
HOUSTON — HFF has brokered the sale of 9801 Westheimer, a 211,125-square-foot office building in Houston’s Westchase submarket. The 11-story property was 86 percent leased at the time of the sale and includes a three-level parking structure. Located on the south side of Westheimer Road between Gessner and Elmside drives, the building is in close proximity to the Sam Houston Tollway, the Westpark Tollway and I-10. Dan Miller and Martin Hogan of HFF marketed the asset on behalf of the seller, Younan Properties Inc., and also procured the buyers, Fuller Realty Partners LLC and Harbert US Real Estate Fund V.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Candle Chase Apartments, a 116-unit multifamily property in Fort Worth. Located at 4805 Altamesa Blvd., the community includes one- and two-bedroom apartments and two-bedroom townhomes, as well as a swimming pool and two laundry facilities. The distressed asset was 70 percent occupied at the time of the sale. Al Silva of Marcus & Millichap marketed the property on behalf of the seller, Timber Chase Apartments LLC, and also procured the buyer, a local partnership.
EDMOND, OKLA. — The LaSalle Group has opened Autumn Leaves of Edmond, a 46-bed memory care facility in the Oklahoma City suburb of Edmond. Located at 1001 S. Bryant Ave., the $8.8 million project totals 28,000 square feet. An official ribbon-cutting ceremony will be held April 24 and will be attended by Joseph Jasmon, COO of The LaSalle Group, as well as a representative from the Edmond Chamber of Commerce. Autumn Leaves of Edmond is The LaSalle Group’s first memory care facility in the Oklahoma City metro area.
AUSTIN, TEXAS — HFF has arranged a $33 million loan for the construction of Hotel Granduca, a 194-room boutique hotel in Austin. The project, located at the corner of Bee Cave Road and Loop 360, will stand nine stories and include a library, ballroom, game room, fitness center, swimming pool and restaurant. A joint venture between The Interfin Companies and Riverside Resources, the property is slated for completion in late 2015. Doug Opalka, John Bourret and Casey Wenzel of HFF worked on behalf of the joint venture to arrange the loan through IBC Bank.
LITTLE ELM, TEXAS — Henry S. Miller Cos. has sold Little Elm Towne Crossing, a 170,000-square-foot retail property in the Dallas suburb of Little Elm. Henry S. Miller Cos. originally purchased the 21-acre parcel in 2005 and developed the neighborhood shopping center on the land in 2008. Tenants of the facility include anchors Hobby Lobby and 24 Hour Fitness, as well as Hibbets Sports, Planet Tan, Baskin-Robins and Monarch Dental. Robert Grunnah, Darrell Hurmis and Daniel Harris of Henry S. Miller Cos. arranged the sale. LETC Dunhill LLC acquired the asset.
SAN ANTONIO AND AUSTIN, TEXAS — Venture Commercial Real Estate has arranged two leases in Austin, as well as another lease and a land sale in San Antonio, on behalf of Fitness International LLC, which will open four new LA Fitness locations at the sites. John Zikos, Jonathan Cooper and Chris Booras of Venture worked with Walt Brown Jr. and Tim Dollander of Diversified Partners, master brokers for LA Fitness in the Southern U.S., on each of the deals. In Austin, Venture arranged a 40,000-square-foot lease at a facility to be constructed at 2020 W. Anderson Lane. In this arrangement, Alan Rust of Retail Solutions represented the unnamed landlord. Also in Austin, Venture arranged a 46,200-square-foot lease at a facility to be constructed in the Lamar Oaks shopping center, located at 4001 S. Lamar Blvd. In this lease, Adam Zmiel of The Weitzman Group represented the unnamed landlord. In San Antonio, Venture arranged a 45,000-square-foot lease at a facility to be constructed in the Vineyard shopping center, located at the corner of Loop 1604 and Blanco Road. In this deal, Thomas Tyng of REATA Real Estate Services represented the unnamed landlord. Finally, Venture arranged the sale of a six-acre parcel …
AMARILLO, TEXAS — Marcus & Millichap has brokered the sale of the 115-room Quality Inn Amarillo East, a hospitality property located at 1515 I-40 East in Amarillo. Constructed in 1985, the hotel offers free wireless internet, a business center, truck parking and free breakfast. The property is in close proximity to Rick Husband Amarillo International Airport, Amarillo Junior College and West Texas State University. Chris Gomes, Skyler Cooper and Jake Gaddy of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Cooper also procured the buyer, another private investor.