FORT WORTH, TEXAS — Realty Capital Management LLC (RCM) has brokered the sale of Eagle Mountain Plaza, a 17,000-square-foot retail property in Fort Worth. Located at 8455 Boat Club Road, the strip was 100 percent leased at the time of sale by tenants including Double Eagle Liquors, Gaskey’s Sports Grill, Papa John’s Pizza and Martini Tan. Mark Boone, director of commercial sales and leasing for RCM, represented the seller in the transaction.
Texas
HOUSTON — Cushman & Wakefield has arranged leases for Cameron International Corp. and Produced Water Absorbents Inc. (PWA) at Northwest Place Industrial Park, located in Houston’s Northwest submarket. Cameron will occupy the 22,942-square-foot flex building located at 6511 West Little York Road, and PWA will occupy the 18,000-square-foot flex building at 6795 Bingle Road. The complex, a project of full-service real estate company Levey Group, comprises five buildings: the two just leased, one previously leased and two that are still being constructed.
SAN ANTONIO —Investment firm Silver Ventures Inc. and three: living architecture plan the extensive renovation of the historic Pearl Brewery brew house. The property, part of the 22-acre Pearl Brewery campus that now serves as a mixed-use development, will relaunch as Hotel Pearl in the summer of 2014. Designed by three in collaboration with Roman and Williams, the new hotel will offer 146 rooms plus dining, social and meeting spaces. Kimpton Hotels will manage Hotel Pearl.
CARROLLTON, TEXAS — Harbor Group International LLC has sold the Bella Vida at Coyote Ridge apartment complex, a 528-unit Class A+ property in Carrollton, a northern suburb of Dallas. Situated on 35.5 acres at 4253 Hunt Drive, the property boasts an occupancy of 97 percent and amenities such as a sand volleyball court, tanning bed and theater room. Units at Bella Vida, which come in one- to four-bedroom layouts, average 1,322 square feet. Harbor Group is a private real estate investment and management firm headquartered in Norfolk, Va. According to the Dallas Morning News, the buyer was an affiliate of Pensam Capital of Miami.
HOUSTON — HFF has brokered the sale of a 105,619-square-foot office building in Houston’s Energy Corridor. The asset, located at 15915 Katy Freeway and across from the 550-acre master-planned Park 10 mixed-use development, was 88 percent leased at the time of sale to tenants in various industries including engineering, technology, real estate, energy and healthcare. Dan Miller and Marty Hogan of HFF represented the seller, Downtown Properties, a real estate associate of Gaw Capital Partners. Dornin Investment Group purchased the building for an undisclosed amount, free and clear of debt.
DALLAS — Marcus & Millichap has brokered the sale of Bachman Glen, a 77-unit multifamily property in Dallas, for $1.3 million. Located at 2555 Webb Chapel Extension and in close proximity to Love Field Airport, the property attracted five offers during a brief marketing period. Al Silva of M&M’s Fort Worth office represented the seller, a national lender, and also secured the buyer, Bachman Glen Joint Venture. The new owner plans renovations to the two-building complex.
HALTOM CITY, TEXAS — Lee & Associates has arranged a 79,950-square-foot industrial lease for Woods Distribution Solutions LLC in Haltom City, a suburb 8 miles north of Fort Worth. The property is a freestanding warehouse facility located at 4233 Janada St. Becky Thompson of Lee & Associates represented the tenant in the negotiations. Bob Kent of Structure Commercial represented the landlord, Talley Rents LLC.
HOUSTON — Cousins Properties, an Atlanta-based REIT, has closed a $189 million non-recourse mortgage for Post Oak Central, a Class A office complex in Houston’s Galleria submarket. Originally purchased by Cousins in February for $233 million, the property comprises three towers totaling 1.3 million square feet. The buildings are currently 94 percent occupied, up from 92 percent at the time of sale. The mortgage, which was announced in conjunction with another closed for an Atlanta-area Cousins property, entails a seven-year term and a fixed rate of 4.26 percent. HFF arranged the terms.
DALLAS AND HOUSTON — CBRE Capital Markets has arranged the sale and $43.5 million in acquisition financing for an industrial portfolio in the Dallas/Fort Worth and Houston metro areas. The 15 multi-tenant properties, which were purchased by an institutional client, total approximately 1.3 million square feet and were 84 percent occupied by a total of 48 tenants at the time of the sale. The Dallas submarkets of Great Southwest/Arlington and Northeast Dallas contain 10 of the acquired buildings, while the remaining five are located in Houston’s Southeast, Southwest and CBD submarkets. Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni, Tom Lynch and Paul Segreto of CBRE represented the seller, a global investment manager. Scott Lewis, Matt Ballard and Patrick Benoist of CBRE’s Dallas Debt and Equity Finance originated and secured the loan.
SAN ANTONIO — Hendricks-Berkadia has brokered the sale of Wedgwood, a high-rise independent living apartment complex in San Antonio. The property, geared toward individuals age 55 and up, features amenities such as a beauty salon, nature path, library, cabana and fish pond. Wedgwood also boasts an on-site medical team and close proximity to the River Walk and Interstates 410 and 281. Mike Miller, Chris Ross and Will Caruth of Hendricks-Berkadia’s San Antonio office represented Centennial, Colo.-based seller Wedgwood Apartments, as well as the buyer, an out-of-state private investor. Acquisition financing was provided via Michael Levell from the Berkadia Austin/San Antonio office.