DALLAS AND MIDLAND, TEXAS — Strategic Storage Trust Inc. (SSTI) has acquired five self storage properties in the Dallas/Fort Worth Metroplex and Midland for approximately $27 million. The properties, which total about 390,000 square feet and 2,800 units, are located at 810 S. Denton Tap Road in Coppell, 1925 S. Bowie Drive in Weatherford, 1712 W. Randol Mill Road in Arlington, 5005 Andrews Highway in Midland and 1904 W. Loop 250 N. in Midland. These, along with four additional properties acquired by SSTI in Alabama and Tennesee, will be rebranded under the SmartStop Self Storage name.
Texas
SAN ANTONIO — Steel Castle Capital LLC has purchased Sevona Westover Hills, a 296-unit multifamily complex in San Antonio. Located near the intersection of Highway 151 and Loop 1604 and in close proximity to Christus Santa Rose Westover Medical Center, the property includes a fitness center, swimming pool and 5,000-square-foot clubhouse. The apartments feature private balconies, 9-foot ceilings, crown molding, walk-in closets and ceiling fans. Steel Castle Capital is based in Anaheim, Calif. and Philadelphia.
ARLINGTON, TEXAS — SkyWalker Property Partners has acquired a 41,680-square-foot retail property in Arlington’s entertainment district. The one-story building, previously used as an antique mart, has been vacant for nearly a decade. Iskander & Sons Inc., based in the United Arab Emirates, sold the property, which is located at 1715 E. Lamar Blvd and was originally constructed in 1984. SkyWalker purchased the asset on behalf of Hangover Opportunity Fund LLC. Mike Nix of ReMax Associates Commercial represented Iskander & Sons.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Coppermill Apartments, a 344-unit multifamily property in San Antonio. Located at 5827 Northwest Loop 410, the complex was built in 1980 and features one- and two-bedroom units in four floor plans. Community amenities include two swimming pools, picnic and barbecue areas and tennis and basketball courts. Will Balthrope and Scott Lamontagne of IPA and Moses Siller of Marcus & Millichap represented the seller, a private entity based in the Northeast. The buyer is a Las Vegas-based acquisition firm.
PEARLAND, TEXAS — BMC Capital has arranged a $4.7 million refinancing loan for Salem Village Apartments, a 141-unit multifamily property in the Houston suburb of Pearland. The complex, which offers one-, two- and three-bedroom layouts, is located at 3510 E. Broadway St. Among the community amenities are two swimming pools, a sand volleyball court and three laundry facilities. Tony Talamas of BMC originated the five-year loan at a fixed interest rate of 4.75 percent and amortized over 30 years.
SUGAR LAND, TEXAS — Colliers International has brokered the sale of a 26,230-square-foot office building in Sugar Land, a southwest suburb of Houston. Hudson Products previously occupied the facility, which is located at 1307 Soldiers Field Drive. Marshall Clinkscales, Greg Cizik and Edward Edson of Colliers’ Houston office represented the buyer, Texas Dow Employees Credit Union, which will be the sole tenant of the property going forward. Kolbe Curtice and Corbin Janssen of Colliers’ Fort Bend office represented the seller, SLGD of Texas LLC.
IRVING, TEXAS — Cushman & Wakefield has arranged the lease of 53,547 square feet of industrial space in Irving for Monitronics International Inc., a provider of residential security equipment and services. The facility is located at 7880 Bent Branch Drive and originally constructed in 1996. Rick Hughes, Dean Collins and Mark Collins of Cushman & Wakefield represented the tenant in the negotiations, while Russ Johnson and Travis Gallivan with Peloton Commercial Real Estate represented the landlord, PS Business Park LP.
DALLAS — NorthMarq Capital has arranged an $11 million refinancing loan for Windsor Station Apartments, a 399-unit multifamily property in Dallas. Located at 3501 N. Buckner Blvd., the complex offers one- and two-bedroom floor plans plus amenities including two swimming pools, two laundry facilities and complimentary video rental. Greg Duvall of NorthMarq’s Kansas City regional office originated the Freddie Mac loan on behalf of the undisclosed borrower.
RICHARDSON, TEXAS — Dallas-based developer KDC has broken ground on a new, 260,000-square-foot office and warehouse facility in Richardson for AdvoCare International. The health and wellness company celebrates two decades in business this year and will occupy the space, located at 2800 Telecom Parkway, once it is completed in July 2014. More than 100 AdvoCare employees will work at the new facility, which will be used for light manufacturing and product assembly, while 150 employees will remain at the company’s corporate headquarters in Plano. Azimuth: Architecture is serving as project designer, and McFadden & Miller is working as general contractor. Kacy Jones of CBRE represented AdvoCare in the negotiations.
TERRELL, TEXAS — The Retail Connection LP and Oakridge Investments plan the 225,000-square-foot first phase of the Crossroads at Terrell, a major regional shopping center planned for the interchange of Interstate 20 and U.S. Highway 80. TJ Maxx, Ross, Bed Bath & Beyond and Sam’s Club are among the proposed anchors for the power center component of the project, which will break ground in fall 2014 and open in late 2015. The development has been designed to expand to more than 1 million square feet, including office and multifamily uses in addition to retail. Separately, the City of Terrell has approved zoning for a 60,000-square-foot Buc-ee’s travel center adjacent to the Crossroads at Terrell site.