BROWNWOOD — LTC Properties has acquired a 90-bed skilled nursing facility, located in Brownwood, for $6.5 million. Concurrent with the purchase, LTC Properties added the property to an existing master lease with Senior Care Centers. The property was built in 2011.
DALLAS — LA Fitness has signed a long-term lease agreement to build a 45,000-square-foot facility in the Old Town Shopping Center, located at the northeast corner of Lovers Land and Greenville Avenue in Dallas, on the site of a former Borders Books & Music store. Construction has commenced for the new facility. John Zikos, Jonathan Cooper and Chris Booras of Venture Commercial, along with Walt Brown Jr. and Tim Dollander of Diversified Partners, represented LA Fitness in the lease transaction. Elizabeth Allen and Michelle Caplan of The Weitzman Group represented the landlord.
EULESS — Messenger College has acquired 25,000 square feet of office space in the Signet Hill office building, located at 400 S. Industrial Blvd. in Euless. Messenger College, an accredited college affiliate with the Pentecostal Church of God, will occupy the third floor and part of the second floor. Darrel Higginbotham of SCM Real Estate Services represented the landlord in the transaction. Dean Lemons of Dean Lemons & Associates represented the buyer.
HOUSTON — NewQuest Properties has arranged the sale of 37,135 square feet of land, located at Imperial Drive and Bammel Road in Houston, for a future Dollar General store. Vaughan Ford of NewQuest represented the buyer, Houston DG Ltd., in the transaction. Jeff Scarborough of Scarborough Real Estate represented the seller.
HOUSTON — Jones Lang LaSalle has arranged a lease of 173,000 square feet of office space in an office building being developed in Houston's Energy Corridor. The tenant, Murphy Exploration & Production Co., will occupy seven-and-a-half floors of the 14-story property that will be located at 9805 Katy Freeway in Houston. Construction is slated for an October 2013 completion and is designed to achieve LEED Silver certification. Dan Bellow and John Burke of Jones Lang LaSalle represented the tenant in the lease transaction. MetroNational, the owner/developer of the property was self-represented by Randy Nerrin.
HELOTES — Satterfield & Pontikes Construction (S&P) has commenced construction on a 159,000-square-foot, $9.9 million Walmart, located on an 18-acre site at the intersection of Leslie and Bandera roads in Helotes, near San Antonio. Scott & Goble are providing design and architectural services for the store, which will include a brown limestone exterior and metal roof canopies. The store is slated to open early next year.
OKLAHOMA CITY — Carter Validus Mission Critical REIT has purchased the 35,000-square-foot HPI Integrated Medical Facility, located in Oklahoma City, for $9.27 million. The property is fully leased to Healthcare Partners Investments (HPI).
HOUSTON — Frontier Equity has acquired the 286,000-square-foot Kirkwood Tower III, a 15-story, Class A office building located in Houston's Energy Corridor. Frontier purchased the property in a partnership with Amstar Advisers. The property is currently 72 percent leased, and PM Realty Group is handling the office building's leasing activity. HFF assisted Frontier Equity in securing acquisition financing, and Holt Lunsford Commercial will manage the property.
HOUSTON — Lowe Enterprises Investors (LEI) has purchased the 314-room Hotel Derek, an independent, 14-story boutique hotel located at 2525 W. Loop S. in Houston's Galleria submarket. LEI purchased the hotel on behalf of a joint venture the firm formed last year with The Guardian Life Insurance Co. Destination Hotels & Resorts, an LEI affiliate, will take over the hotel's management. LEI plans to invest $4.5 million to revamp the guest rooms and common areas, as well as update the hotel's technology. The hotel features a business center, fitness center, a 4,800-square-foot ballroom, an outdoor pool and the Valentino Restaurant and Vin Bar. LEI was self-represented in the transaction. Eastdil Secured represented the seller, and Wells Fargo provided debt financing.
AUSTIN — Dungan Storage Warehouse, a 14,000-square-foot, 18-unit self storage facility located at 1706 Dungan Lane in Austin, has sold. The purchase also includes undeveloped land that is currently being used for commercial and recreational parking. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. The buyer, Kenan Hemingway Investment Corp., was self-represented by Gregg Hemingway.