FARMERS BRANCH, TEXAS — A Miami-area private investor has purchased Maxim Integrated Products Inc.’s fully leased, six-tenant flex building at 14540 E. Beltwood Parkway in the north Dallas suburb of Farmers Branch. The property is the fourth-to-last to be sold of the 13 buildings on 1.3 acres originally built by Maxim in 1979, before the company’s relocation north of LBJ Freeway. Cornerstone Assembly Church and North Dallas Fencers Club are among the property’s current tenants. Bradford Commercial Real Estate Services’ Leigh C. Richter represented Maxim in the deal, and Callahan Properties’ Rick Callahan represented the buyer.
Texas
SAN ANTONIO — Global web infrastructure and cloud-hosting provider PEER 1 Hosting has signed a 10-year lease for 25,000 square feet in San Antonio’s Pearl neighborhood. The impending move to the new space will more than quadruple PEER 1’s space and provide employees easy access to Pearl’s restaurants, parks and entertainment. PEER 1, which is headquartered in Vancouver, B.C., specializes in managed hosting, dedicated hosting and collocation and has about 540 employees worldwide.
COLLEGE STATION, TEXAS — Scott & White Healthcare has opened the Rock Prairie Clinic, a four-story, 120,000-square-foot facility located at 700 Scott & White Drive in College Station. The clinic is located on the 98-acre Scott & White Hospital – College Station campus. Scott & White Healthcare is leasing 100 percent of the clinic, which will house its physicians and clinical outpatient services. Duke Realty is Rock Prairie's developer and owner. The design team includes architect Jacobs Engineering Group and general contractor Kitchell Contractors Inc.
MANSFIELD, TEXAS — Advenir, a multifamily investor and manager, has acquired Dolce Living at Mansfield, a 334-unit, Class A apartment community in Mansfield. Advenir branded the community as Advenir@Mansfield. The seller was the original developer, which completed the community in two phases in 2012. The property features a fitness center, internet cafe and resort-style swimming pool. Advenir plans to upgrade the interiors of some units to wood flooring, as well as adding fenced backyards to some units in order to appeal to residents with pets. Each unit includes custom cabinetry, stainless steel appliances and island-style kitchens with granite countertops. Will Balthrope and Drew Kile of Institutional Property Advisors represented the seller in the transaction. Advenir was self-represented. Braden Harmon of Berkeley Point Capital secured acquisition financing.
KATY, TEXAS — CBRE's national retail investment group has brokered the sale of the 87,469-square-foot Highland Knolls Shopping Center in Katy. A 62,389-square-foot Randall's anchors the shopping center, which is nearly 95 percent occupied. Randall's has 11 years left on its initial lease term. Highland Knolls is located at 1525 S. Mason Road in the Cinco Ranch submarket. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller in the transaction. The buyer was Denver-based Revesco Properties.
CASTLE HILLS, TEXAS — Spencer Enterprises Ltd. has awarded Stream Realty Partners the leasing assignment for a 28,360-square-foot office property in Castle Hills, a suburb of San Antonio. The property is located at 1919 N.W. Loop 410. Carolyn Hinchey Shaw will serve as the leasing agent for the property. The office property has undergone upgrades recently, including enhanced landscaping and updated building entrances.
HOUSTON — Wood Partners has begun construction on Alta Westheimer, a 133-unit, 119,000-square-foot apartment building located at 9235 Westheimer Road in Houston. Leasing is expected to begin in April 2014. Good, Fulton & Farrell designed the project. The complex will house 15 studio units, 84 one-bedroom units and 34 two-bedroom units with 188 parking spaces. Select floor plans will include garages. The building will be close to Terry Hershey Park and several major local employers, including Phillips 66, Chevron, Halliburton, BP, Shell and ExxonMobil. Westplan Investors is the project’s equity partner, and Westheimer Builders LLC is the general contractor.
THE WOODLANDS, TEXAS — Jones Jazzy Java and Dr. Alfred’s Hotdog Stand have recently leased two separate concession stands with The Woodlands Development Co. (TWDC) at Waterway Square along the Woodlands Waterway in The Woodlands Town Center. Jones Jazzy Java is owned by Shawn and Tricia Jones and offers New Orleans’ style cuisine. V.VJ Enterprise, owned by Dr. Alfred Limani and Viosa Berisha, offers Chicago-style hot dogs and ice cream at Dr. Alfred’s Hotdog Stand.
GRAPEVINE, TEXAS — Automotive Rentals Inc. (ARI) has leased an additional 10,830 square feet at The Offices @ Grapevine Parkway, an office complex located at 2550 S.W. Grapevine Parkway in Grapevine. ARI, a member of Mount Laurel, N.J.-based Holman Auto Group, has grown its leased space at the property to more than 50,000 square feet. Jim Poynter and Dennis Scifres of Tenant Realty Advisors LLC represented the landlord, One Grapevine Parkway Ltd. Steven Greenfield of ARI represented the tenant in-house.
DALLAS — UC Funding LLC has provided a $4 million bridge loan for the acquisition and predevelopment of three contiguous vacant buildings totaling 47,100 square feet. The buildings are located on Elm Street in downtown Dallas. The proposed development will include 24 loft-style residential units with 17,600 square feet of ground floor and basement restaurant and retail space.