HOUSTON — Hunington Properties has arranged the sale of an 82,868-square-foot retail property in Houston once leased to Home Depot. Todd Carlson of Hunington Properties represented the seller, Prosperity Bank, in the transaction. Carlson also procured the buyer, Silvestri Investments.
ABILENE — Quantum Real Estate Advisors has brokered the sale of two Family Dollar stores in Abilene. The 8,320-square-foot Family Dollar at 5277 Texas Ave. sold to a private investor for $1.08 million, while the other 8,320-square-foot store sold to a California-based private fund for $1.3 million. Family Dollar has 10 years left on its lease at both stores. Jordan Kaufman of Quantum represented the seller, a Houston-based private developer, in the sale of the Texas Avenue store. Kaufman also represented the seller of the other store, a California-based private fund.
HOUSTON — Newport Beach, Calif.-based KBS Strategic Opportunity REIT has purchased the 400,101-square-foot 1800 West Loop South, a 21-story office tower located in Houston's West Loop/Galleria submarket. The property is 88 percent leased. KBS plans to upgrade the lobby and elevators of the property, which features a deli, laundry and dry-cleaning services and an 11-story parking garage. KBS-affiliated companies own four other Houston-area properties totaling 1.3 million square feet, including Ten West Corporate Center, Two Westlake Park, Clay Crossing and 8300 FM 1960. Charles Schreiber, Jr., Peter Bren, Keith Hall and Peter McMillan III of KBS Realty Advisors sponsored the buyer in the transaction, and KBS Capital Advisors LLC advised the REIT.
AUSTIN — Hunt Investment Management, an affiliate of Hunt Cos., has sold the 2,044-unit Riata Town Center and Apartment Villages, a master-planned multifamily community located in Austin's Arboretum district. The community features a resort-style swimming pool, jacuzzi, fire pit, picnic grove, 11,000-square-foot fitness center, lake, jogging trails, beach volleyball courts, indoor racquetball courts, basketball courts, 200 gas grills, eight car wash stations and two dog parks. Thomas Delaney and John Musgrove of Hunt Investment Management managed the sales process with the seller's brokerage firm in the all-cash transaction.
KILLEEN — Quantum Real Estate Advisors has brokered the $1.35 million sale of an 8,000-square-foot Family Dollar store in Killeen. Jordan Kaufman of Quantum represented the seller, a Houston-based private developer, in the transaction. Family Dollar has 10 years remaining on its lease.
FORT WORTH — Marcus & Millichap has arranged the sale of The Edmundton, a 20-unit apartment building located on Birchman Avenue in Fort Worth. Boyan Radic and Mason Green in Marcus & Millichap's Fort Worth office represented the seller, a Utah-based partnership, in the transaction. Radic and Green also secured and represented the buyer, Fort Worth-based Edmundton Apartments LLC. A local bank provided acquisition financing for the transaction.
ADDISON — Fiesta Restaurant Group, owner and operator of the Taco Cabana and Pollo Tropical restaurants, has plans to occupy 20,000 square feet of office space at 14800 Landmark Blvd. in Addison. The new office space will serve as Fiesta's corporate headquarters. The company plans to have 55 employees in the office during the next three years.
MIDLOTHIAN — Berkadia Commercial Mortgage has secured $13 million in permanent financing for the 180-unit Timber Oaks Apartments, located in Midlothian. The property is 95 percent occupied and features a pool and a 24-hour fitness center. Greg Golden and John Koeijmans of Berkadia arranged the 10-year, fixed-rate loan that will amortize over 30 years through Fannie Mae on behalf of the borrower, Midlothian Timber Oaks LP.
DALLAS — Bright Realty has arranged the sale of a 4,658-square-foot, three-tenant retail center, located at 4501 Maple Ave. in Dallas' Medical District. David Choe of Bright Realty represented the buyer in the transaction. Tommy Tucker of UCR Investments represented the seller.
HOUSTON — Marcus & Millichap has brokered the sale of a 14,520-square-foot industrial property, located at 1721 Oak Tree in Houston. Derek Hargrove of Marcus & Millichap's Houston office represented the buyer, Lynnthree Holdings, in the transaction. Gary Brown of Gary Brown & Associates represented the seller, a private investor.