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.
Texas
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.
HOUSTON — Marcus & Millichap has brokered the sale of a 27,725-square-foot office building in Houston’s inner loop. Situated on a corner parcel of 1.56 acres at the intersection of Bissonnet Street and Wakeforest Avenue, the property houses a variety of smaller tenants. Derek Hargrove of Marcus & Millichap represented the seller, Beltika LLC, in the transaction. Hargrove also secured the buyer, a developer.
LEWISVILLE, TEXAS — Lee & Associates has brokered the sale of a 24,279-square-foot industrial building sale in the Dallas/Fort Worth suburb of Lewisville. The warehouse, originally constructed in 1985, is located at 1210 Metro Park Blvd. and features clear heights of 16 feet. Mark Graybill of Lee & Associates represented the buyer, Team Taylor Investments LLC. Dan Spika of Henry S. Miller Brokerage LLC represented the seller, Britestar Group Inc.
SAN MARCOS, TEXAS — L&M Supply, a provider of erosion control products, has chosen the San Antonio suburb of San Marcos as the home of its second Texas distribution center. The new 40,000-square-foot facility, located at 126 Texas Ave., will employ more than 20 local staff. L&M is based in Willacoochie, Ga. The Greater San Marcos Partnership assisted L&M in the site selection process.
SPRING, TEXAS — Monmouth Real Estate Investment Corp. has acquired a 114,923-square-foot industrial asset in Spring, a northern suburb of Houston, for $15.3 million. The building, net leased for 10 years by FedEx Ground Package System Inc., is located at 21200 Spring Plaza Drive on approximately 17 acres. The property is in close proximity to Interstate 45 and the site of Exxon Mobil’s new headquarters. Monmouth has now acquired five properties totaling more than 1.1 million square feet in the first quarter of fiscal 2014, which runs from Oct. 1, 2013 to Sept. 30, 2014.
DALLAS — A joint venture between investment and management firm Presidium Group and private equity firm Second City Real Estate has acquired the Easton Hills apartment complex, a 282-unit property in the White Rock Lake neighborhood of Dallas. The new ownership will rebrand the asset as The Grove at White Rock and implement a capital improvement program valued at $1.7 million. Enhancements of apartment interiors will include new flooring, hardware, plumbing, lighting fixtures and appliances, while exterior renovations will consist of upgrades to building exteriors, landscaping, community amenities and leasing office and the addition of a fitness center. The property is located at 10429 Lone Tree Lane.