Texas

CVS DRUGSTORE NEAR TCU SELLS FOR $7.14M

by admin August 14, 2012

FORT WORTH — Marcus & Millichap has brokered the $7.14 million sale of a 12,738-square-foot CVS/pharmacy drugstore, located at 2603 W. Berry St. near the entrance to Texas Christian University (TCU) in Fort Worth. Lior Regenstreif of Marcus & Millichap's Encino, Calif., office represented the seller, a REIT, in the transaction. Scott Sandelin of Marcus & Millichap's Miami office represented the buyer, a private investor. Timothy Speck of Marcus & Millichap's Dallas office served as the firm's broker of record in Texas.

August 14, 2012

Texas

HFF SECURES SALE OF SELF-STORAGE PORTFOLIO

by admin August 14, 2012

HOUSTON — HFF has arranged the sale of a four-property self-storage portfolio totaling 235,793 square feet, located in the Houston area. The sale includes a 440-unit, 52,488-square-foot property located at 7825 Katy Freeway in Houston; a 437-unit, 58,761-square foot property located at 23550 Highway 290 in Cypress; a 411-unit, 52,020-square-foot facility located at 15707 Bellaire Blvd. in Houston; and a 450-unit, 72,524-square-foot property located at 1919 Broadway in Pearland. Aaron Swerdlin, Doug McCarron and Barbara Guffey of HFF represented the seller, a joint venture between Private Mini Storage and Clarion Partners, in the transaction. The buyer was CubeSmart.

August 14, 2012

Multifamily Texas

ARA ARRANGES SALE OF ALEXAN SOUTHWESTERN

by admin August 14, 2012

DALLAS — ARA has brokered the sale of the 396-unit Alexan Southwestern Apartments, located in Dallas' Medical District. Brian O'Boyle of ARA represented the seller, Trammell Crow Residential, in the transaction. The Class A Alexan Southwestern was built in 2009 and is currently 96.5 percent occupied.

August 14, 2012

Multifamily Texas

MUSKIN BROKERS SALE OF VISTA LAGO APTS.

by admin August 14, 2012

AUSTIN — Muskin Commercial has closed the sale of the 102-unit Vista Lago Apartments, located at 2215 Town Lake Circle near Lady Bird Lake in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, Carlsbad, Calif.-based Lanshire Housing Partners, in the transaction. Austin Vista Lago, LP. was the buyer.

August 14, 2012

Mixed-Use Texas

BRADFORD COMMERCIAL BROKERS MIXED-USE SALE

by admin August 13, 2012

FORT WORTH — Bradford Commercial Real Estate Services has arranged the sale of a 53,652-square-foot, mixed-use campus on 5.03 acres, located at 1520 Everman Parkway in Fort Worth. Karen Simon, Brian Scott and Kevin Santaularia of Bradford Commercial represented the seller, Avcor Health Care Products, in the transaction. Jordan Foster of Peyco Southwest Realty represented the buyer, Everman Independent School District.

August 13, 2012

Industrial Texas

VANTEX ARRANGES 300,000 SF LEASE RENEWAL

by admin August 13, 2012

PASADENA — Vantex Commercial Property Group has brokered a lease renewal for 300,000 square feet of industrial space at Bayport North Distribution Center II, located at 4331 Underwood in Pasadena. Walter Menuet of Vantex represented the landlord, Bayport II Mountain West Houston LLC, in the lease renewal transaction. Randy Wolcott of ProVenture Commercial Real Estate represented the tenant, Ozburn-Hessey Logistics.

August 13, 2012

Healthcare Texas

BAKER KATZ ACQUIRES DENTAL PROPERTY

by admin August 13, 2012

HOUSTON — Houston-based Baker Katz has purchased a 4,120-square-foot, free-standing property occupied by Southern Dental, located at 310 W. 19th St. in The Heights neighborhood of Houston. The buyer was self-represented while Stewart Waller of Retail Leasing Services represented the seller in the transaction.

August 13, 2012

Industrial Texas

NORTHMARQ SECURES WEST BELT FINANCING

by admin August 13, 2012

HOUSTON — NorthMarq Capital has arranged first mortgage refinancing for the 260,000-square-foot West Belt Business Park, located at 10611-10651 Harwin Drive in Houston. John Burke and Chad Owens of NorthMarq arranged the seven-year loan with a 30-year amortization schedule through a life insurance company on behalf of the borrower, InSite West Belt LP.

August 13, 2012

Multifamily Texas

MCA ARRANGES $3M LOAN FOR REDBUD APTS.

by admin August 13, 2012

MCALLEN — Dallas-based Metropolitan Capital Advisors (MCA) has secured a $3 million loan for the 80-unit Redbud Apartments, located in the northeast section of McAllen. The property is currently 95 percent leased and has recently underwent $1 million in renovations. Hook Harmeling of MCA arranged the 10-year loan through the Fannie Mae DUS loan program.

August 13, 2012

Civic Texas

PERFORMING ARTS FACILITY COMING TO SUGAR LAND

by admin August 10, 2012

SUGAR LAND — The Sugar Land Development Corp. and Sugar Land City Council have approved a letter of intent with ACE Sugar Land to develop a 6,500-seat concert and performing arts facility, located on a 21-acre site near the U.S. Highway 59 and University Boulevard intersection. The letter of intent establishes funding to begin programming and schematic design. No timeline has been set for completion.

August 10, 2012

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