HOUSTON AND MISSOURI CITY, TEXAS — Marcus & Millichap has arranged the sale of two shopping centers in Texas totaling 89,720 square feet. The properties include the 42,435-square-foot Missouri City Corners in Missouri City and the 47,285-square-foot Desoto Shopping Center in Houston. Jerry Goldstein of Marcus & Millichap's Houston office represented the sellers in both transactions.
CINCINNATI, OHIO — Phillips Edison-ARC Shopping Center REIT Inc. has acquired four grocery-anchored shopping centers for a total purchase price of approximately $117 million. The properties include Northcross, a 280,243-square-foot shopping center located in Austin. A 98,800-square-foot Walmart Supercenter anchors the property and is leased through March 2029. Other tenants include Walgreens, GameStop, GNC, Guitar Center, Great Clips and Weight Watchers. The other properties included in the announcement are Shiloh Square in metro Atlanta, Glenwood Crossings in metro Milwaukee and The Pavilions at San Mateo in Albuquerque, N.M. The four acquisitions bring the REIT's total portfolio to 46 properties in 18 states totaling $650.7 million.
NEW YORK CITY — Gramercy Property Trust Inc. has closed on four acquisitions in Dallas, southern New Jersey, Houston and Orlando, Fla., for approximately $82 million combined. The properties include a wholesale automotive auction facility located in Hutchins in the Dallas MSA and a cross-dock truck terminal in Houston. Gramercy purchased the auction facility for approximately $58.5 million, which includes the assumption of a $26.3 million first mortgage that is co-terminus with the lease. The property is fully leased through June 2029. Gramercy purchased the Houston terminal, which has 189 dock doors, and the Orlando terminal for a combined $12 million. The Houston terminal is leased through May 2019. Gramercy purchased the industrial freezer/cooler facility for approximately $11.8 million.
AUSTIN, TEXAS — Omni Hotels & Resorts has purchased and reflagged the Omni Barton Creek Resort & Spa in Austin from KSL Capital Partners LLC, a private equity firm. The property is heralded as the No. 1 golf resort in Texas with four championship level courses and Texas' only Callaway Performance Center. The property also features 318 guest rooms, full-service spa, meeting/wedding facilities and several dining options. The seller recently upgraded the property's guest rooms and meeting spaces.
EL PASO, TEXAS — Kite Realty Group Trust has executed a 31,541-square-foot lease with Sprouts Farmers Market at Sunland Towne Centre in El Paso. The shopping center includes tenants such as Bed Bath & Beyond, Ross Dress for Less, PetSmart and Party City. Sprouts will occupy the former Roomstore space.
PHOENIX — Phoenix-based Cole Corporate Income Trust Inc. (CCIT) has acquired three Class A office buildings in Texas and Massachusetts for $160.8 million. Cole Corporate Income Advisors LLC, a subsidiary of Cole Real Estate Investments, served as the external advisor to CCIT in the transaction. The properties include an office campus leased to Allstate Insurance Co. in Plano totaling 458,338 square feet. Allstate will occupy the campus under a 12-year lease through a sale-leaseback transaction. CCIT also acquired a 206,362-square-foot office building in Houston's Westchase District. The property serves as the corporate headquarters of The Men's Wearhouse, which has more than 14 years remaining on its lease. The last property is a 49,250-square-foot medical office building in Concord, Mass. The property is leased for 17 years to Harvard Vanguard Medical Associates, a 630-physician medical group. Boyd Messmann of Cole Real Estate Investments represented CCIT in both Texas transactions, and Robert Corry of Cole represented CCIT in the Massachusetts transaction.
PLANO, TEXAS — HFF has secured $120 million in financing for Granite Park I, II and III, three office towers in the mixed-use Granite Park development in Plano. The development is located at the intersection of Dallas North Tollway and State Highway 121. The three office buildings are 95 percent leased and total 873,636 square feet. Trey Morsbach, Jim Curtin, Michael Cosby and Michael George of HFF arranged the 10-year, fixed-rate loan loan through MetLife Real Estate Investors on behalf of the borrower, Granite Properties Inc. Funds from the loan were used to refinance an existing loan.
HOUSTON — CenterPoint Properties has purchased a 1 million-square-foot, six-building industrial portfolio in Houston for $42.6 million. Exel Logistics fully occupies all six facilities, which are rail-served and located within 25 miles of the Port of Houston. The properties are situated on a 42.8-acre lot located near interstates 10 and 610. Trent Agnew and Rusty Tamlyn of HFF represented the seller, TA Associates, in the transaction.
HOUSTON — Denver-based Fairfield Advisors has brokered the $13.3 million sale of the Memorial Herman Convenient Care Medical Office Building in Houston. The 30,000-square-foot medical office building is located at 14201 E. Sam Houston Parkway N. Memorial Herman, the largest not-for-profit health system in Texas, is the sole occupant of the property, which is an outpatient facility that includes a 24-hour emergency room. Greg Trainor of Fairfield Advisors represented the seller in the all-cash transaction.
SAN MARCOS, TEXAS — Quantum Real Estate Advisors Inc. has arranged the approximately $3.5 million sale of an 8,250-square-foot shopping center in San Marcos. The shopping center is fully leased to tenants including Five Guys Burgers and Fries, Best Buy Mobile and Sprint. Jordan Kaufman of Quantum represented the buyer, an Illinois-based private investment group, in the transaction. The seller is a Houston-based development company.