WESTOVER HILLS, TEXAS — CBRE has brokered the sale of Warm Springs Rehabilitation Hospital of Westover Hills, a 40-bed rehabilitation hospital in suburban San Antonio. Post Acute Medical operates and holds a 17-year absolute net lease on the 50,000-square-foot facility, located at 10323 State Highway 151. Dallas-based developer Mohr Health LLC and its partner, Dallas-based MedProperties Holdings LLC, sold the property. Jecoah Byrnes, Chris Bodnar, Lee Asher and Scott Herbold of CBRE with Wynn Searle of Mohr represented the seller in the transaction. A private REIT purchased the asset.
Texas
OKLAHOMA CITY — A joint venture between Austin, Texas-based private equity firm Virtus Real Estate Capital and McKinney, Texas-based development/management firm Advantage Self Storage has acquired a 59,400-square-foot self storage facility in Oklahoma City. The property, known as Nichols Hills Self-Storage, is located at 2900 N.W. Grand Blvd. Built in 2005, it is comprised of 404 units and offers both climate-controlled and non-climate-controlled options. Advantage, which owns and manages a portfolio of 10,000 self storage units nationwide, will run the on-site operations of the acquired facility.
RICHARDSON, TEXAS — Alliance Architects has completed shell and interior design services for DataBank’s new 50,000-square-foot facility in the northeast Dallas suburb of Richardson. Located within Digital Realty’s Dallas Data Center Park Campus, the new building will resemble DataBank’s downtown Dallas location. The new property includes 41,000 square feet of data hall dedicated to customer hardware, high-density power delivery architecture, executive offices and a conference room. Tom Maxwell, Ashley Gibson, Gloria Boyd, Barb Caires and William Arch worked on the Alliance Architects team. K2 Construction provided general construction and construction management services.
ROWLETT, TEXAS — Marcus & Millichap has brokered the sale of Rowlett Plaza, a 19,295-square-foot retail center in the northeast Dallas suburb of Rowlett. At the time of the sale, the property was 77 percent occupied by a variety of tenants including Papa Murphy’s, Rowlett Dance Academy and River Nails and Spa. All leases are triple-net. Located at 5000 Rowlett Road, the building was originally constructed in 1985 and last renovated in 2000. Chris Gainey and Philip Levy of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company.
HOUSTON — Baker Katz has arranged a 2,633-square-foot lease for the first Houston location of fast casual pasta restaurant Noodles & Co. The new eatery will join sporting goods retailer Tyler’s and Bonefish Grill in what was formerly the Sears Automotive Building at 1555 Lake Woodlands Drive. Jason Baker of Baker Katz represented the tenant in the negotiations, while Kirk Dodson of General Growth Properties represented the landlord. Noodles & Co. now has eight locations in Texas and plans to continue expansion in the Houston market through the end of 2015.
THE WOODLANDS, TEXAS — A fund advised by CBRE Global Investors has acquired The Retreat at The Woodlands, a 240-unit multifamily property in The Woodlands. The Class AA, garden-style apartment complex is located at 4400 College Park Drive and features a clubhouse and units with granite countertops and stainless steel appliances. Houston-based development firm Allied-Orion sold the property, which was 95 percent occupied at the time of the sale.
WACO, TEXAS — Marcus & Millichap has brokered the sale of Woodland Springs Nursing Center, a 132-bed skilled nursing facility in Waco. The asset, located at 1010 Dallas St., sold for a price of $6.4 million. Rod Llanos of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Llanos also secured the buyer, a limited liability company.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. (KDH) has arranged $2.5 million in construction financing for a 37,000-square-foot office/warehouse development in Houston. The single-tenant property, to be located on three acres immediately south of George Bush Intercontinental Airport, will feature concrete tilt-wall panels, pre-engineered steel frame and 120-foot truck apron with loading docks and two 18 feet-by-18 feet doors. Matt Franke and Larry Peters of Q10 | KDH originated the loan through a regional bank.
ARLINGTON, TEXAS — Lee & Associates has arranged the lease of 32,230 square feet of industrial space in Arlington for Impex Forwarding Agency Inc., which specializes in foreign trade services. The property, located at 2401-2407 Centennial Drive, was originally constructed in 1977 and features clear heights of 24 feet. Becky Thompson of Lee & Associates represented the tenant in the lease negotiations, while Kacy Jones and Wilson Brown of CBRE represented the landlord, First Industrial Realty Trust.
SAN ANTONIO — Stream Realty Partners has purchased nearly 17 acres in San Antonio for the construction of a 126,626-square-foot speculative office property to be known as Lockhill Crossing. The five-story, Class A building will be located at 4530 N. Loop 1604 W. and will feature amenities including a fitness facility and outdoor walking trail. Stream plans to break ground on the property before the end of the year. Carolyn Hinchey Shaw and Ryan Harrison of Stream will lead leasing efforts during development and after completion.