FRISCO — Marcus & Millichap has brokered the sale of the 5,200-square-foot Legacy Center, a retail property located at 4300 Legacy Drive in Frisco. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, SA Challenger Inc., in the transaction. Burnett also procured the buyer, a private investor.
SAN ANTONIO — Yates Construction has completed the renovation of the 12,000-square-foot, three-story Hard Rock Riverwalk Cafe, located in San Antonio. The interior renovation included expanded seating, new finishes for the dining area and upgrades for the kitchen and restrooms. The exterior renovation included constructing a new entrance canopy on the Riverwalk level, new awnings, enclosing the outdoor patio on the street level and building a new outdoor canopy for expanded outdoor seating.
PASADENA — Arch-Con Construction has finished the construction of a 40,000-square-foot design-build office/warehouse facility, located in Pasadena. The facility will house the combination of four Total Safety locations. Beau Kaleel of Cushman & Wakefield represented Total Safety in the lease transaction. Powers Brown Architecture provided design services for the facility, which was built crane-ready.
HOUSTON — HFF has brokered the sale of the 94,166-square-foot 1900 Yorktown, a six-story office building located in Houston's Galleria area. The buyer, Houston-based The Finger Companies, plans to demolish the property and develop a Class A, mid-rise multifamily property in its place. Dan Miller, Davis Adams and Marty Hogan of HFF represented the seller, a national specialty finance company, in the transaction.
ODESSA — Marcus & Millichap has arranged the sale of the 65,231-square-foot Sherwood Village Center, located at 625 E. 42nd St. in Odessa. The property is fully leased to tenants such as O'Reilly Auto Parts, Family Dollar, Goodwill Industries, State Farm Insurance and Jackson Hewitt. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, Fort Worth-based Hickman Cos., in the transaction. Knipp also procured the buyer, a 1031-exchange California partnership.
HOUSTON — Regency Centers has signed three retailers and a dental management company to open locations at the 203,000-square-foot Southpark at Cinco Ranch, a Regency Centers' shopping center located at Westpark Toll Road and Spring Green Boulevard in Houston. Subway will open a 1,400-square-foot location, Menchie's Frozen Yogurt will open a 1,800-square-foot location, Supercuts will open a 1,125-square-foot store and DentalOne Partners will open a 3,000-square-foot office. Other tenants include Kroger and Academy Sports+Outdoor. The shopping center has anchor openings scheduled for December 2012 and is 84 percent pre-leased.
TEXAS — Griffin-American Healthcare REIT II, co-sponsored by American Healthcare Investors and Griffin Capital Corp., has acquired 14 medical office buildings for a purchase price of $106.7 million. The properties in the 474,000-square-foot portfolio are located in Florida, Texas, New Mexico, Hawaii, Indiana, Alabama, Illinois, Colorado and South Carolina. The Texas properties include the 85,000-square-foot, 91 percent leased Rockwall Medical Center in Rockwall; the 43,000-square-foot, fully leased San Angelo Community Medical Center I and II in San Angelo; the 20,000-square-foot, fully leased Schertz Medical Building in Schertz; and a 32,000-square-foot, fully leased medical office building in Texarkana.
DENTON — Cadence McShane has been selected to develop the 75,167-square-foot first phase of a multi-phase renovation of the 765,000-square-foot Golden Triangle Mall, located at Interstate 35 East and Loop 288 in Denton. GTM Development, created by The MGHerring Group and Cencor Realty Services, purchased the property in November 2011. The mall features 90 specialty stores such as Dillard's, Macy's, JC Penney and Sears. The first phase of renovations includes upgrading the lighting, opening existing skylight coves and replacing ceilings and flooring. The project is slated to be complete before the holiday shopping season. C.M. Architecture is providing architectural services for the assignment.
DALLAS — American Realty Capital Properties (ARCP) has acquired a 75,050-square-foot Mrs. Baird's distribution facility, located in Dallas, for $6.2 million. The facility is fully leased to Bimbo Bakeries USA, which has five years remaining on its 15-year lease. The acquisition brings ARCP's real estate holdings to 119 properties worth roughly $216.5 million.
HOUSTON — Coldwell Banker Commercial United, Realtors has arranged the sale of 10-unit Magnolia at Fleur Gardens, a garden-style condominium property located at 6353 Richmond Ave. in Houston. Mark McGinley of Coldwell Banker represented the institutional sellers in the transaction. Quinn Luong of Texas Midland Realty represented the international buyer. The property was developed in 2006.
