SAN ANTONIO — Marcus & Millichap has brokered the sale of the 60,521-square-foot Carillon Hills Shopping Center, located at 5805-5889 Babcock Road in northwest San Antonio. Dollar Tree is the shopping center's anchor tenant. Stephen Berchelmann and Chad Knibbe of Marcus & Millichap's San Antonio office represented the seller in the transaction. Knibbe and Bethany Babcock, also of Marcus & Millichap's San Antonio office, secured the buyer.
THE WOODLANDS, TEXAS — Don and Arlena McLaughlin have purchased a 1.71-acre site for a 12,000-square-foot Primrose School in the forthcoming Creekside Park Village Center in The Woodlands. The McLaughlins purchased the site from The Woodlands Development Co. (TWDC), a wholly owned subsidiary of The Howard Hughes Corp. Construction is expected to begin in March and wrap up by the fall, in time for the 2013-2014 school year. The school will be the third Primrose School in The Woodlands and the fifth overall. The new school is anticipating hiring 36 staff members. The Primrose Schools serve children from six weeks to kindergarten and offer after-school care and summer camps. The tenant was self-represented by Don McLaughlin in the transaction. Todd Edmonds of Colliers International represented TWDC.
CEDAR PARK, TEXAS — TIG Real Estate Services has selected Cadence McShane Construction Co. to build Scottsdale Crossing Building One in Cedar Park. The facility is a light office/flex building totaling 27,500 square feet. The property is located at 5900 Highway 183A in TIG's Scottsdale Crossing Commerce Park in Cedar Park. Cadence McShane is slated to deliver the building in July. TIG Real Estate is handling the property's leasing and Studio 8 Architects is providing architectural services.
FORT WORTH, TEXAS — Arlington-based SkyWalker Property Partners has sold two historic office buildings, located at 215 and 219 S. Main St. in Fort Worth, after investing more than $350,000 in their restoration. An investment group known as 1915 South Main LLC, which is affiliated with JRH Partners, purchased the adjacent brick buildings. The buildings total 12,970 square feet and once served as a regional office for Illinois-based Greenlee Textron Inc. The buildings are primed for retail or office use and sit blocks away from downtown Fort Worth. The new owner is seeking tenants for the buildings, which sit on a lot with two parking areas, totaling 47 spaces. Blake Lloyd of CBRE represented the buyer in the transaction.
MCKINNEY, TEXAS — Love Funding has closed a $24.9 million construction loan for the 211-unit St. Paul Square, a Class A multifamily property that will be part of Adriatica Village in McKinney. Adriatica Village is a 45-acre town center development modeled after a Croatian fishing village known as Supetar. David Brooks and George Fuller are leading the efforts of Adriatica Village's development, which will feature European architecture, an old bell tower, cobblestone streets, a hand-carved dove fountain and a secluded island chapel. Laura Saull-Smith of Love Funding arranged the loan through HUD's Section 221(d)(4) loan insurance program.
EL PASO, TEXAS — El Paso-based MIMCO is growing its retail portfolio with several developments and redevelopments in west El Paso and across Texas. The El Paso projects include development of a new 39,000-square-foot retail showroom project in west El Paso; development of a new 80,000-square-foot retail center in El Paso; acquisition of a 45,000-square-foot retail center at 9411 Alameda in southeast El Paso; development of a new 80,000-square-foot retail center in southeast El Paso; conversion of a 36,000-square-foot Bowlero Lanes to retail space in northeast El Paso; completion and preleasing of the new 30,000-square-foot Sandstone Pointe Shopping Center on Sean Haggerty at U.S. Highway 54; and planning for development of a 150,000-square-foot community center at McCombs and U.S. Highway 54. The projects throughout Texas include development of a 78,000-square-foot retail asset in McAllen; development of a 46,000-square-foot center in Austin; development of a 68,000-square-foot shopping center in Fredericksburg; and the development of three Dallas properties totaling more than 165,000 square feet.
GREENVILLE, TEXAS — CBRE Hotels has arranged the sale of the 139-room Quality Inn, located at 1215 E. Interstate 30 in Greenville. The hotel features Hangar Bar, an outdoor pool, billiard room, exercise room and complimentary breakfast for hotel guests. Bert Stevens of CBRE Hotels in Dallas represented the seller in the transaction. A private investor purchased the hotel.
PLANO, TEXAS — Venture Commercial has brokered the sale of 58,000 square feet of anchor space at Preston Parker Crossing in Plano to Wal-Mart Stores Inc. Preston Parker Crossing is a shopping center located at 3312 Preston Road in Plano whose tenant roster includes Anamia’s Tex-Mex, Horchow Finale, Legacy Bank and Jason’s Deli. Walmart will open a Neighborhood Market location at Preston Parker Crossing. Sprouts was the previous occupant of the anchor space. John Zikos, Tonya Hagood, and Chris Booras of Venture Commercial represented the seller, Centennial Real Estate Co., in the transaction. Kent Stainback and Mark Parks of The Stainback Organization represented Wal-Mart Stores Inc.
SAN ANTONIO — Omaha, Neb.-based Metonic Real Estate Services has purchased the 230-unit Sierra Ridge, a multifamily property located in northwest San Antonio, on behalf of investors. The apartment complex is currently 94 percent occupied. Omaha-based Seldin Co. assumed management responsibilities upon closing. Seldin is planning extensive upgrades to the interior of Sierra Ridge, which was built in 1972. Gables Residential was the previous property manager.
LAWTON, OKLA. — Marcus & Millichap has arranged the sale of a 5,515-square-foot Lone Star Steakhouse & Saloon, a net leased property located at 5374 N.W. Cache Road in Lawton. Nicholas Farris and Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, and procured the buyer, a private investor. Lone Star Steakhouse & Saloon is based in Dallas and has more than 100 steakhouses in 30 states.
