Texas

CBRE SECURES SALE OF THREE CLASS A INDUSTRIAL PROPERTIES

by admin February 18, 2013

DALLAS — CBRE has brokered the sale of Trade Center I, II and IV, three Class A industrial properties near Dallas/Fort Worth International Airport totaling 1.4 million square feet. Trade Center I is located at 2700 Regent Blvd. and Trade Center II and IV are located at 2520-2525 Esters Blvd. in a master-planned business park. Trade Center I is fully leased while Trade Center II and IV are 92 percent leased. Jack Fraker, Josh McArtor, Jonathan Bryan and Heather McClain Venegoni of CBRE represented the sellers, Bentall Kennedy and Trammell Crow Co., in the transaction. Dallas-based Invesco Real Estate is the buyer.

February 18, 2013

HENRY S. MILLER ARRANGES CAR COMPANIES' EXPANSION

by admin February 18, 2013

DALLAS — Henry S. Miller has arranged expansions for BBC Motorsports and Toyota of Dallas in the Dallas area. Bill Bledsoe of Henry S. Miller represented Toyota of Dallas in its purchase of the Vonco Medical building, located at 11480 Anaheim Drive in Dallas. The medical building includes a 33,493-square-foot warehouse and is located on a 2.03-acre lot. Toyota of Dallas plans to expand its body operations at the new site. Bledsoe also represented BBC Motorsports in its 59,425-square-foot lease expansion at 1320 Chemical St. in Dallas. The expansion nearly doubled its footprint at the 70,000-square-foot warehouse. The BBC Motorsports showroom will now occupy approximately 75 percent of the warehouse.

February 18, 2013

Multifamily Texas

M&M BROKERS SALE OF BRIARCREST APTS. IN IRVING

by admin February 18, 2013

IRVING, TEXAS — Marcus & Millichap has arranged the sale of the 51-unit Briarcrest Apartments, located at 506 N. Rogers Road in Irving. Boyan Radic of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction.

February 18, 2013

Industrial Texas

COLLIERS ARRANGES 321,135 SF INDUSTRIAL LEASE IN SOUTH DALLAS

by admin February 18, 2013

DALLAS — Colliers International has secured a 321,135-square-foot industrial lease, located at 4800 Langdon Road in south Dallas. The Class A industrial building is LEED Gold-certified and is now 85 percent leased following this transaction. Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the landlord, Weeks Robinson Properties, in the lease transaction. Dave Anderson of CBRE represented the tenant, Conn Appliances.

February 18, 2013

Multifamily Texas

ZIEGLER COOPER DESIGNS WILLOWICK PARK IN HOUSTON

by admin February 15, 2013

HOUSTON — Ziegler Cooper Architects has completed the design of Willowick Park, a multifamily master-planned complex in central Houston featuring three types of high-end multifamily products in a single high-density, urban site. The individual projects will be tied together with tree-lined streets, elevated courtyards, motor courts and a central greenspace. The development will include three-story townhomes averaging 2,350 square feet, mid-rise apartments averaging 870 square feet and luxury, mid-rise apartments averaging 1,470 square feet. The project is slated to break ground in March. Ziegler Cooper is designing Willowick Park on behalf of the owner, Martin Fein Interests.

February 15, 2013

Hospitality Texas

$2M RENOVATION OF COURTYARD HOTEL IN OKC COMPLETE

by admin February 15, 2013

OKLAHOMA CITY — The 225-room Courtyard by Marriott Oklahoma City Downtown, located adjacent to historic Bricktown at 2 W. Reno Ave. in Oklahoma City, has undergone a $2 million renovation of its guest rooms and meeting spaces. The facelift included a new paint palette for the rooms, plush carpet, new furnishings and HDTVs in all rooms. The hotel is expected to undergo Phase II of its renovation in August. Phase II will include a stylish lobby, a 57-inch LCD TV GoBoard with touch screen, media booths, lounge, local library, coffee bar, nighttime bar and a Starbucks location. John Q. Hammons Hotels & Resorts owns and operates the eight-story hotel.

February 15, 2013

Retail Texas

SHOPPES AT BROWNSTONE SELLS IN ARLINGTON

by admin February 15, 2013

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of The Shoppes at Brownstone, a 8,110-square-foot retail property located at 2410 W. Abram St. in Arlington. The retail property is fully leased to tenants such as Sugar Bee Sweets, Patty's Pantry, Oro Fino Custom Jewelry, Healthy Solutions, Derma Spa and Zen Salon. Chris Gainey and Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, Pennington Family LP, in the transaction. Mercer Lacy LLC purchased the property.

February 15, 2013

Office Texas

NORTHMARQ ARRANGES $5M MORTGAGE FOR WOODVIEW TOWER IN DALLAS

by admin February 15, 2013

DALLAS — NorthMarq Capital has arranged $5 million in first mortgage refinancing for the 198,447-square-foot Woodview Tower, an office building located at 1349 Empire Central in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the five-year loan to amortize over 30 years through a Dallas-area bank.

February 15, 2013

Multifamily Texas

HILL & WILKINSON TO BUILD $53.25M STUDENT HOUSING FACILITY

by admin February 14, 2013

DALLAS — Hill & Wilkinson will construct a $53.25 million, 235,000-square-foot student housing living/learning center at The University of Texas at Dallas (UT Dallas). HKS Architects Inc. designed the facility and is seeking a LEED Silver certification. The facility will provide housing for 600 students and will include a central dining facility for all five residence halls on campus. The project will also include a 25,000-square-foot gym, multi-purpose classroom space, a breakfast/snack bar, laundry facilities and lounge areas. Hill & Wilkinson previously constructed the Student Services Building at UT Dallas, which was LEED Platinum certified.

February 14, 2013

Retail Texas

WHEELER REIT TO BUY BIXBY COMMONS FOR $10.6M

by admin February 14, 2013

BIXBY, OKLA. — Wheeler Real Estate Investment Trust Inc. has a contract to purchase the 75,000-square-foot Bixby Commons, a freestanding retail property in Bixby, for $10.6 million. The purchase price equates to approximately $141.33 per square foot. The property is stabilized by a 20-year, triple-net lease with Associated Wholesale Grocers Inc., which subleases the property to Reasor's Goods. The lease will expire in 2033 and has four, five-year options to renew.

February 14, 2013

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