AUSTIN, TEXAS — Muskin Commercial LLC has brokered the sale of University Crest Apartments, a 105-unit multifamily complex in Southeast Austin. The property, located at 1616 Royal Crest Drive, includes of 12 garden-style buildings, a management office and a swimming pool on nearly five acres. Ellen Muskin of Muskin Commercial represented the seller, San Diego-based Crest Apartments LLC. Royal Crest LLC purchased the facility with financing from Arbor Commercial Funding LLC.
Texas
CLEVELAND, TEXAS — Full-service real estate firm ARA has brokered the sale of Kirbywood Apartments, a 72-unit multifamily community in the Northeast Houston suburb of Cleveland. Constructed in 1978, the Class B property is located at 307 Kirbywood Drive and offers one- to three-bedroom apartments plus amenities including a swimming pool, playground and laundry facility. The complex was 95 percent occupied at the time of the sale. Jon Boone, Jeff Patterson and Kelly Witherspoon of ARA represented the seller, a Houston-based private investor. The buyer is an investment company based in California.
RICHARDSON, TEXAS — Hudson Peters Commercial has brokered the sale of an 11,420-square-foot office building in Richardson. Located at 212 W. Spring Valley Road, the two-story property is in close proximity to State Highway 75 and Interstate 635. Janice Peters and Michelle Hudson of Hudson Peters represented the seller, Medwed Properties, in the transaction. Kent Smith of NAI Robert Lynn represented the buyer, Modjarrad & Abusaad Law Firm.
AUSTIN, TEXAS — Full-service real estate firm ARA has brokered the sale of Las Colinas, a 178-unit apartment community in Austin. Located at 1500 Reagan Hill Drive in the city’s Northeast submarket, the property is in proximity to State Highway 183, State Highway 290 and Interstate 35. Andrew Shih and Matt Pohl of ARA represented the seller, Quez Capital, which purchased the garden-style complex in 2012 and upgraded cabinetry, flooring and appliances in many of the units, as well as the communal clubhouse, courtyards and building exteriors. A private investor based in Minnesota purchased the asset, which was 97 percent occupied at the time of the sale.
ARLINGTON, TEXAS — Bradford Commercial has brokered the sale of a 36,006-square-foot flex property in the Great Southwest industrial district of Arlington. Constructed in 1965, the building is located at 925 111th St., in close proximity to Interstate 30. Features of the asset include 16-foot clear heights, heavy power, three dock-high doors and two dock doors with levelers. Joe Santaularia, Kevin Santaularia and Michael Spain of Bradford represented the seller, Tennessee-based Dominion Enterprises. Michael Stanzel of NAI Robert Lynn represented the buyer, locally based Duralite Natural Stone LLC, which will occupy the facility within two months.
KATY, TEXAS — The Mission Companies, a construction firm, and management and consulting company Entrust Inc. have completed a two-story, 34,000-square-foot office building in the Houston suburb of Katy. Entrust has leased 69 percent of the Class A property to serve as a new corporate headquarters. Located at 22322 Grand Corner Drive, the 2.62-acre site is situated at the interchange of State Highway 99 and Westpark Tollway, as well as the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Sam Hansen of NAI Houston is the leasing agent for the remaining suites available at the facility.
SCHERTZ, TEXAS — Stream Realty Partners has arranged the renewal of a 160,000-square-foot industrial lease at Tri-County Distribution Center in the northeast San Antonio suburb of Schertz. The tenant, Hollingsworth Logistics Group, occupies space in Building One of the Class A complex, which is located at 5925 Tri-County Parkway. Features at the building include 28-foot clear heights, recent exterior upgrades and proximity to Interstate 35. Jason Schnittger of Stream represented the landlord, CLPF – Tri County 1 LP, while Charlie Hargis of Endura Advisory Group represented Hollingsworth.
SAN ANTONIO — World Class Capital Group LLC has acquired Culebra Crossing, a 141,000-square-foot retail center in northwest San Antonio. The property, located on Culebra Road two miles north of Loop 410, was 93 percent occupied at the time of the sale. Anchors of the center include WellMed and Family Dollar. World Class Capital also acquired the site’s vacant pad sites as part of the purchase.
IRVING, TEXAS — SkyWalker Property Partners has acquired Campus Circle, a three-building, 66,885-square-foot office complex in the Las Colinas submarket of Irving. The single-story structures, located at 6301, 6321 and 6341 Campus Circle Drive, are in close proximity to the interchange of State Highway 114 and the Bush Turnpike. SkyWalker purchased the asset on behalf of the Hangover Opportunity Fund LLC through an auction by LNR Partners Inc. New ownership plans capital improvements for the property, which was 79 percent vacant at the time of the sale. Tom Strohbehn of Cushman & Wakefield represented the undisclosed seller in the transaction.
SAN ANTONIO — SRS Real Estate Partners has brokered the sale of TRISUN Care Center Lakeside, a 110-bed skilled nursing facility in San Antonio. Located at 8707 Lakeside Parkway, the 42,853-square-foot facility provides 24-hour care for long-term residents, as well as rehabilitation services. Jason Middlebrook and Bob Dickerson of SRS represented the undisclosed seller in the transaction.