RICHARDSON, TEXAS — Marcus & Millichap has brokered the sale of a 2,567-square-foot property occupied by Gatti’s Pizza in Richardson. Originally constructed in 1978, the building is located at 2115 E. Belt Line Road, which boasts traffic counts in excess of 30,000 per day. At the time of the sale, Gatti’s had three years remaining on the triple-net lease. Blake Burnett of Marcus & Millichap represented the seller, an out-of-state family partnership, and also procured the buyer, a local limited partnership.
Texas
IRVING, TEXAS — Spire Realty Group LP has arranged a 51,623-square-foot lease in Irving for JDA Software Group Inc., a provider of supply chain, merchandising, store operations and all-channel software. The Class A property, located at 500 E. John Carpenter Freeway in the Las Colinas submarket, totals eight stories and 200,000 square feet and includes a conference center, fitness center, deli, lounge and attached parking garage. Andrew Schendle and Allison Johnston of Spire Realty Group represented the landlord, an affiliate of Spire, in the negotiations. John Roper of CBRE represented the tenant.
EDNA, TEXAS — BMC Capital has arranged a $2.3 million cash-out refinance loan for the 43-unit Best Western Inn in Edna, approximately 25 miles east of Victoria on the Gulf Coast. The property, which features complimentary breakfast, high-speed internet and a swimming pool, is in close proximity to Lake Texana, as well as the facilities of Formosa Plastic Corp. The two-year loan includes a fixed rate of 8 percent and a 25-year amortization schedule. James Tennial of BMC arranged the terms through one of the firm’s correspondent lenders.
HOUSTON — NAI Houston has brokered the sale of a 17,440-square-foot industrial property in Houston’s downtown industrial submarket. Located at 5720 Harvey Wilson Drive, the warehouse has 13- to 20-foot clear heights and multiple loading doors. John Ferruzzo and Chris Kugle of NAI Houston represented the seller, 5720 HW LLC, in the transaction. Steelvest 5720 LLC purchased the asset.
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.
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.