PLANO, TEXAS — Investment advisory firm ARA has brokered the sale of Sheridan Park at Spring Creek, a 300-unit multifamily community in Plano. Constructed in 1999, the complex offers one-, two- and three-bedroom apartments averaging 983 square feet plus amenities including two swimming pools, a fitness center, dog park and playground. The Class A complex, which was 93.3 percent occupied at the time of the sale, is in proximity to Interstate 75 and State Highway 190, as well as major employers such as the State Farm headquarters. Brian O’Boyle Sr., Brian Murphy and Brian O’Boyle Jr. of Atlanta-based ARA marketed the property on behalf of the undisclosed seller. Waterton Associates LLC, based in Chicago, purchased the asset.
Texas
SACHSE, TEXAS — CBRE has brokered the sale of Oak Grove Plaza, a 120,491-square-foot retail center in the northeast Dallas suburb of Sachse. Anchored by Kroger Signature since 2003, the property is located at the intersection of State Highway 78 and Bunker Hill Road. Approximately 75 percent of the asset’s leasable area is under contract into 2018. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, Invesco Advisers Inc., in the transaction. LaSalle Investment Management purchased the center.
HARLINGEN, TEXAS — The Woodmont Company has brokered the sale of Creekside Plaza, a 45,902-square-foot retail center in Harlingen. Located along South Sunshine Strip and adjacent to HEB Grocery, the property was 67 percent occupied at the time of the sale by tenants including anchors Family Dollar and Sherwin Williams. Brad Cruickshank of Woodmont represented the seller, Torchlight Investors, in the transaction. The buyer, an undisclosed private investment firm, represented itself.
SAN ANTONIO — Retail Solutions has arranged a 25,000-square-foot lease in San Antonio for Blast Fitness. The gym will occupy space at Westpark Plaza, located at 6703-6759 N.W. Loop 410 and in proximity to Ingram Park Mall. Tim McBrearty of Retail Solutions represented the tenant in the negotiations, while Transwestern represented the undisclosed landlord.
IRVING, TEXAS — Developer Trammell Crow Residential has completed the 317-unit Alexan Urban Center apartments in Irving. Located at 850 Lake Carolyn Parkway, the property offers one- and two-bedroom apartments plus amenities including two swimming pools, two conference rooms, a business center, a fitness center and a clubhouse. Residence interiors feature wood vinyl flooring, granite countertops and stainless steel appliances. The nearby Orange Line expansion of the Dallas Area Rapid Transit system offers access to dining, retail and entertainment options. Meeks + Partners served as architect on the project, and Faulkner Design Group worked as interior designer.
DALLAS — HREC Investment Advisors has brokered the sale of the 227-room DoubleTree Market Center in Dallas. Located at 2015 Market Center Blvd., the property is in proximity to Interstate 35 and within a five-minute drive from downtown, as well as Dallas Love Field airport. The hotel features an outdoor pool, fitness center, café, bar, business center and 7,500 square feet of meeting and event space. Axle Capital Group acquired the asset. Hank Wolpert and Geoff Davis of HREC represented the seller, Rolf Tweeten of Alliance Hospitality Management. Tweeten will continue to manage the property.
MESQUITE AND FRISCO, TEXAS — Venture Commercial has brokered the sale of two retail properties previously leased by Albertsons totaling 117,693 square feet in the Dallas/Fort Worth suburbs of Mesquite and Frisco. Dallas Retail Associates sold the properties. The 61,395-square-foot Mesquite property is located at 2106 N. Galloway Road, in proximity to Town East Mall. John Zikos, Charlotte Cooper, Chris Corbin and Chris Booras of Venture represented the seller in this transaction. The buyer, Paso Vista Properties, represented itself. The 55,728-square-foot Frisco property, partially occupied by an Aldi grocery store, is located at 6951 Preston Road. Zikos, Booras and Tonya Hagood of Venture represented the seller in this transaction. The buyer, The Tana Group, represented itself.
DALLAS — Marcus & Millichap has brokered the sale of Park Place, an 82-unit apartment community in Dallas. Located at 2115 and 2116 N. Garrett Ave., the property offers studio, one- and two-bedroom floor plans ranging from 475 to 960 square feet, as well as proximity to Central Expressway. At the time of the listing, the complex was 94 percent occupied. Stephen Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. Crittenden also secured the undisclosed buyer.
HEMPSTEAD, TEXAS — Marcus & Millichap has brokered the sale of a 108,000-square-foot industrial building in the far northwest Houston suburb of Hempstead. Constructed in 2009 and expanded in 2013, the tilt-wall facility features crane-ready space and includes climate-controlled labs and finished office space. Logan Industries International Corp, a provider of hydraulic repair, field and design services for the offshore oilfield industry, holds an extended triple-net lease for the property. Located at 1000 Blasingame Road, the asset is in proximity to a Southern Pacific rail line near the intersection of U.S. Highway 290 and State Highway 6. Christopher Jones of Marcus & Millichap represented the seller, a private investor, in the transaction. Charlie Hampton, also with Marcus & Millichap, represented the buyer, a limited liability company.
LONGVIEW, TEXAS — CBRE Hotels has brokered the sale of the 60-unit Comfort Suites in Longview. Located at 3307 N. 4th St., the hotel is in proximity to the Lake O’ the Pines reservoir. The three-story property features an indoor swimming pool, hot tub, exercise facility, meeting space, complimentary breakfast and wireless internet. Bert Stevens, Nate Sahn and James Johnson of CBRE represented the seller, Heritage Inn XII LP, in the transaction. Breiton Hospitality LLC, which purchased the asset, plans to maintain the current branding and will invest in upgrades.