DALLAS — Younan Properties has sold the 19-story, 398,767-square-foot Four Forest Plaza, a Class A office building located on Merit Drive in Dallas' Central Expressway submarket. CBRE represented the seller in the transaction. The buyer, Adler Realty Investments, was self-represented.
FORT WORTH — ML Realty Partners has purchased a 348,871-square-foot industrial portfolio, consisting of three properties located in Centreport Business Park in Fort Worth. Randy Baird, Jud Clements, Robby Rieke and Chris Selbo of HFF represented the seller, AEW Capital Management LP., in the transaction.
PLANO — Dallas-based Primera Cos. has plans to construct a two-story, 51,333-square-foot office building, a Class A property that will be located at 5151 Headquarters Drive in Legacy Business Park in Plano. The building is slated for a summer 2013 completion. Myers & Crow Co. will develop the property that was designed by Gromatzsky Dupree & Associates. Legacy Texas Bank provided construction financing, and Trevor Franke and Aarica Mims of Peloton Real Estate Partners are handling the property's leasing responsibilities.
ARLINGTON — SkyWalker Property Partners has sold the 78,660-square-foot Cordovan Park, located at 5840-5850 W. Interstate 20 in Arlington, in an off-market transaction to Texas Trust Credit Union. The property is 75 percent leased. SCM Real Estate has retained leasing and property management duties.
THE WOODLANDS — CapLease Inc. has purchased a 175,000-square-foot, Class A office building, located at 1585 Sawdust Road in The Woodlands, for $40.5 million. The building is fully leased to credit-worthy tenants including Praxair Inc. and Dover Fluid Management, a subsidiary of Dover Corp. CapLease is anticipating to close on a 10-year, $22 million non-recourse mortgage loan with a 30-year amortization schedule in the next few weeks.
HOUSTON — Newmark Grubb Knight Frank Capital Group has redeveloped and sold a 43,800-square-foot retail property, located at 7323 FM 1960 Road in Houston. Michael Zatopek and Chris Hansen oversaw the repositioning of the former Toys 'R Us into a multi-tenanted facility, and secured leases from Big Lots, E. Star Chinese Buffet and Sushi Bar and Chase Bank. Newmark Grubb Knight Frank represented the seller, Magi Houston LLC, in the transaction. The buyer was an Australia-based investor. The Toys 'R Us has been relocated to Willowbrook Court, a 60,000-square-foot retail property located in Houston.
DALLAS — Transwestern has brokered the sale of the 90-unit Park Towne Villas, located at 7117 Holly Hill Drive in Dallas. Taylor Snoddy, Mark Freeman and Philip Wiegand of Transwestern's Dallas office represented the seller, a California-based private client, in the transaction. The buyer was JSK Business Service.
SAN ANTONIO — Accion Texas has launched a $5.5 million “We Believe” capital campaign to build the new Accion Texas Lending and Learning Entrepreneurial Center, which will be located on two acres at 2015 W. Marten St. in San Antonio's Prospect Hill neighborhood. The center was designed by Lake/Flato Architects and will feature five buildings, including a 14,000-square-foot headquarters building, a 1,500-square-foot conference and training center, a 1,200-square-foot cafe and kitchen and two 2,000-square-foot “small business” buildings. The project is already 45 percent funded through public and private pledges, including a $1.3 million grant from the U.S. Department of Commerce's Economic Development Administration.
NORTH ROCKWALL — KDC has commenced construction of the 16,600-square-foot Texas Health Presbyterian Hospital Rockwall, a medical facility located in North Rockwall. The facility will house two multi-physician offices, an emergency room, laboratory and diagnostic resources. Construction is slated for a late 2012 completion, and the emergency room is scheduled to be operational in early 2013. Corgan Architects designed the property and MAPP Construction is the general contractor.
DALLAS — Henry S. Miller Brokerage has arranged the sale a 130,000-square-foot former Sam's Club, located at 1900 W. NW Highway in Dallas. Dan Spika of Henry S. Miller's Dallas/Fort Worth office represented the seller, Grand Openings, in the transaction.
