Texas

ARA BROKERS SALE OF 348-UNIT STONELEIGH APTS.

by admin June 7, 2013

CORPUS CHRISTI, TEXAS — ARA has arranged the sale of Stoneleigh Apartments, a 94 percent occupied, 348-unit multifamily development located at 5733 and 5750 Curtis Clark Drive in Corpus Christi. Los Angeles-based Mount Auburn Capital Group LLC now owns the apartment community. Stoneleigh offers one- and two-bedroom floor plans, and features three pools, a sundeck, 24-hour fitness center, covered parking, full-sized garages, self storage units, a clubhouse, business center, media room, and laundry facilities. Jeff Patterson and Kelly Witherspoon of ARA represented the sellers, two national property investment and asset management firms based in Irvine, Calif., and Dallas, in the transaction.

June 7, 2013

FAMILY DOLLAR STORE SELLS IN EVERMAN FOR $1.2M

by admin June 7, 2013

EVERMAN, TEXAS — Quantum Real Estate Advisors Inc. has brokered the sale of an 8,000-square-foot Family Dollar store in Everman. The property sold to an Iowa-based private fund for $1.2 million. The store is a build-to-suit for Family Dollar, which has 10 years remaining on its initial 10-year lease. Jordan Kaufman of Quantum represented the seller, a private developer, in the transaction.

June 7, 2013

Seniors Housing Texas

MARCUS & MILLICHAP SELLS SENIORS HOUSING FACILITY

by admin June 7, 2013

BRENHAM, TEXAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Bluebonnet Hills Care Center, a 96-bed nursing home located at 401 E. Blue Bell Road in Brenham. The property commanded a list price of $2 million. Rod Llanos and Doug O'Toole of Marcus & Millichap's Houston office represented both the seller, an individual trust, and the buyer, a limited liability company, in the transaction.

June 7, 2013

Office Texas

STREAM REALTY BROKERS SALE OF OFFICE PROPERTIES

by admin June 7, 2013

SAN ANTONIO — Stream Realty Partners has brokered two office property sales in San Antonio totaling more than 160,000 square feet of office space. Allan Young and Keith Fisher of Stream Realty arranged the sale of a 61,600-square-foot building, located at 6415 Babcock Road in northwest San Antonio. Providence Mortgage Co. purchased the property, which is fully leased to Accenture. Fisher and Carolyn Hinchey Shaw, also with Stream Realty, arranged the sale of a 99,986-square-foot property, located at 3600 Wiseman Blvd. in the Far West submarket. Select Income REIT purchased the property from 3600 Wiseman Corp. The property is fully leased to Hartford Fire Insurance.

June 7, 2013

Retail Texas

CINEMARK PURCHASES LAND IN ROANOKE FOR NEW THEATER

by admin June 7, 2013

ROANOKE, TEXAS — Cinemark Holdings Inc. has closed on its purchase of 10 acres of land in Roanoke, located at the junction of Highways 170 and 140. The site will be the location of a new 14-screen, all-digital movie theater. The new theater will showcase the company's new Cinemark NextGen design, which features wall-to-wall, ceiling-to-floor screens; enhanced sound systems; and 4K digital projection powered by Barco projectors. Cinemark XD, the company's exclusive large-screen format, will be utilized in the theater, which is slated to open in spring 2015. In addition, the theater will also feature a Cotton Patch Cafe restaurant.

June 7, 2013

Restaurant Texas

CHICK-FIL-A TO BUILD RESTAURANT AT HICKORY CENTER AT PRESTON

by admin June 6, 2013

FRISCO, TEXAS — Chick-fil-A Inc. has purchased a 1.3-acre retail site at the Hickory Center at Preston, a Walmart-anchored shopping center located at the southwest corner of Preston Road and Gary Burns Drive in Frisco. Ken Reimer, Amy Pjetrovic-Hunnicut and Katie Vance of Venture Commercial represented the seller, Allegiance Frisco LP, in the transaction. David Hardesty of Hardesty Realty Group represented Chick-fil-A.

June 6, 2013

Multifamily Texas

BELL PARTNERS PURCHASES AUSTIN APARTMENT COMMUNITY

by admin June 6, 2013

AUSTIN, TEXAS — Bell Partners Inc. has acquired the 250-unit Presidio Apartments in Austin and will take over management responsibilities. Bell Partners has renamed the property Bell Lake Creek. The Bell Lake Creek complex offers one-, two- and three-bedroom floor plan options. The community’s amenities include a 24-hour fitness center, Mediterranean-style swimming pool with sun deck, resident clubroom and picnic areas with grills. To date, Bell has invested more than $190 million in apartment properties, including this latest purchase.

June 6, 2013

Multifamily Texas

MARCUS & MILLICHAP ARRANGES THE SALE OF 836 APARTMENT UNITS

by admin June 6, 2013

CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of five multifamily properties in Corpus Christi totaling 836 units. The sale completes the disposition of an 11-property, 1,773-unit Corpus Christi apartment portfolio. The other six assets in the portfolio were sold previously to multiple buyers. Joe James, Kent Myers and J. Patrick Burke of Marcus & Millichap represented the seller, a private individual. The buyer is a Texas-based limited partnership. The five properties include: Briarcroft and Sky Harbor Apartments, Carmel Manor Apartments, Churchill Square Apartments, Fairway Apartments and Harper’s Corner. Briarcroft and Sky Harbor Apartments was constructed on approximately 23.3 acres at 7218 S. Padre Island Drive. The property’s 299 units were nearly 95 percent occupied at the time of sale. Carmel Manor Apartments, a 72,549-square-foot property, is located at 1001 Carmel Parkway. All 74 units were occupied at close. Churchill Square Apartments is located at 302 Western Drive. All 107 units were occupied at close. Fairway Apartments is located at 6440 Everhart Road and its 149 units were 94 percent occupied at close. Lastly, Harper’s Corner is located at 6602 Everhart Road. At close, nearly 95 percent of the property’s 207 units were occupied.

June 6, 2013

Retail Texas

CBRE NEGOTIATES SALE OF CARROLLTON SHOPPING CENTER

by admin June 6, 2013

CARROLLTON, TEXAS — CBRE’s Private Capital Group in Dallas arranged the sale of Hebron Heights Shopping Center in Carrollton. The 59,356-square-foot neighborhood shopping center is located in northwest Dallas at the corner of Hebron Parkway and Old Denton Road. Hebron Heights Shopping Center is 87 percent occupied with a tenant roster including Tuesday Morning, Dunkin’ Donuts/Baskin Robins, Just Fitness 4U and Quiznos Subs. The buyer, an affiliate of the Tabani Group, purchased the center for an undisclosed amount. Jennifer Pierson and Beth Pierson of CBRE’s Dallas office represented the seller.

June 6, 2013

Retail Texas

GANDER MOUNTAIN TO ADD FOUR NEW STORES IN TEXAS

by admin June 5, 2013

TEXAS — Gander Mountain, an outdoor equipment retailer based in St. Paul, Minn., has plans to open four new stores in Texas this fall. The four stores will be located in Lewisville, Mesquite, Round Rock and San Antonio. The Lewisville store will be located at 723 Hebron Parkway in the Lakepointe Towne Crossing Shopping Center and will span 45,000 square feet. The Mesquite store will be home to the first Gander Mountain Firearms Super Center in Texas. The 31,000-square-foot store will be located at 3775 Childress Ave. The Round Rock store will span 49,000 square feet and be located in the Round Rock Shopping Center at 3021 S. Interstate 35. The San Antonio store will also span 49,000 square feet and be located in the Westover Marketplace Shopping Center at 8203 State Highway 151. The retailer expects to create approximately 350 jobs with the new stores.

June 5, 2013

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