AUSTIN — ARA has arranged the sale of the 68-unit South Congress Commons, a multifamily property located in Austin. The multifamily community is 96 percent occupied. Matt Pohl and Andrew Shih of ARA's Austin office represented the seller, Austin-based Seamless Capital, a privately held investment firm, in the transaction. South Congress Commons is the first Austin acquisition for Fort Lauderdale, Fla.-based DeLavaco Properties, a privately held investment firm.
HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of a 26,575-square-foot church building, located at 7934 Highway 6 N. in the Copperfield area of northwest Houston. Vince Elder of Coldwell Banker represented the seller, Heritage Presbyterian Church, in the transaction. The buyer is World Changers International.
HOUSTON — Carter Validus Mission Critical REIT has acquired a 14,000-square-foot surgery center in Houston for $4.7 million. The facility is fully leased to Northwest Surgery Center and there are 14 years remaining on the lease.
IRVING — Red River Asset Management has purchased Imperial Square, a five-building office complex located at 2401-2477 Gateway Drive in Irving. The property is 68 percent leased to tenants such as Verizon Wireless and the GSA. The complex totals 129,000 square feet. Larry McCorkle, Bo Bond and John Alvarado (now with CBRE) represented the seller, Rushmore Imperial Square, in the transaction. New York-based Angelic Real Estate arranged acquisition financing through Viewpoint Bank. Bruce Stern of Red River is teaming up with Jon Altschuler and Katie Chu of Altschuler and Co. to market the property for leasing.
PLANO — Dallas-based Winzer Corp. has awarded Alliance Architects the bid to design a new 139,000-square-foot office/distribution facility, which will be located at the corner of Plano Parkway and North Star Road in Plano. The build-to-suit facility will feature painted tilt wall panels, ribbon windows with a metal canopy, a freestanding entrance wall, two-story glass curtainwall and a two-story open-air lobby. Pacheco Koch Consulting Engineers is providing civil engineering design services, Hunt & Joiner Consulting Structural Engineers is providing structural design services, Belle Firma is providing landscape design services, Weeks Robinson Properties is the developer, Transwestern assisted Winzer in the site selection, Panattoni Construction is providing general contracting services and Pritchard Associates is serving as the construction manager.
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.
