ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of the foreclosed 30,478-square-foot Fielder Place, an office building located at 1633 W. Division St. in Arlington. Karen Simon and Brian Scott of Bradford represented the seller, U.S. Bank, in the disposition of the foreclosed property, which is 40 percent leased. Jose Thankachan of Beam Real Estate LLC represented the buyer, AVK Associates LLC. Bradford's Simon and Scott had five tenants in place to lease space in the office building.
FRISCO, TEXAS — Marcus & Millichap has arranged the $4.7 million sale of a 12,969-square-foot CVS/pharmacy in Frisco. Dan Yozwiak, Antoine Matthews, John Reehil, Dean Zang and Mark Taylor of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Tim Speck of Marcus & Millichap also assisted in the sale.
HOUSTON — Moody Rambin has arranged the 173,000-square-foot lease of manufacturing space at 7150 Almeda Genoa Road in Houston. Jim Autenreith and Griff Jaggard of Moody Rambin represented the tenant, Applied Cryo Technologies (ACT), in the lease transaction. ACT will use the space to design and manufacture equipment for oil and gas companies. The facility is located 10 miles away from the Port of Houston.
AUSTIN, TEXAS — An affiliate of New York-based Norvin Healthcare Properties has purchased the 60,000-square-foot Central Texas Rehabilitation Hospital, a three-story rehabilitation hospital located at 700 W. 45th St. in Austin, for $32.9 million. The hospital is fully leased by a joint venture of Louisville, Ky.-based Kindred Healthcare Inc. and Austin-based Seton Healthcare Network. The 50-bed hospital provides highly specialized rehabilitation services and includes a therapy pool. The seller was Dallas-based Prevarian Hospital. Cain Brothers & Co. arranged the transaction.
DALLAS — Dallas-based Harwood International has inked a lease renewal with Jones Day, a global law firm, for 133,200 square feet of office space in the Jones Day Building in the HARWOOD district in Dallas. Harwood International was self-represented by Jihane Boury and David Roehm in the lease transaction. Russell Cosby, Brad Selner, Jon McNeil and Rachel Brown of Jones Lang LaSalle represented the tenant. Additionally, Jones Day was self-represented by Patricia Villareal, David Lowery and Mike Davitt. The office building is set to undergo renovations by Gensler, an architectural firm.
HOUSTON — CBRE has arranged the sale of the 480-unit Stone Park Apartments, a 414,564-square-foot multifamily community located along Sam Houston Parkway in northeast Houston. The community was completed in two phases in 2004 and 2007. Ryan Epstein of CBRE represented the seller in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, has arranged the sale The Manor at Castle Hills, a 306-unit apartment community located at 1835 Lockhill-Selma Road in the Castle Hills enclave of San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile advised both the buyer and seller in the transaction.
IRVING AND ENNIS, TEXAS — Chris Pollard of LMI Capital has arranged $8 million in debt for borrowers on two multifamily properties in Texas. The loans include $5 million for the 188-unit Knollwood, an apartment community in Irving. Pollard arranged the 10-year loan with a 30-year amortization schedule through Fannie Mae. The loan includes funds for capital upgrades on the property. The other transaction was a $3 million acquisition loan for the 112-unit Townhouse Apartments in Ennis. Pollard arranged the 10-year loan with a 30-year amortization schedule.
For the past several years, the City of Laredo has focused on creating a safe environment that promotes both a high quality of life for its citizens and a business-friendly atmosphere where various industries can prosper. Although some have expressed concerns about the situation on the Mexican side of the border, the U.S. side is safer than many mid-to-large cities and our economy is booming. With our prime location on the U.S./Mexico border, access to Interstate 35, and both Union Pacific and Kansas City Southern rail lines, international trade is the city’s major industry, as reflected in our status as the nation’s No. 1 inland port on the U.S.-Mexico border. Laredo will be the first city in the nation to house Mexican Customs officials pre-clearing air cargo charters leaving Laredo. This allows the cargo to land in Mexico as “domestic cargo” which can then be sent immediately to the manufacturing facility. Additionally, with the recent discovery of the Eagle Ford Shale, a new industry is developing that will fuel Laredo’s, and the state’s, economy for years to come. Geography has certainly played well into the growth and development of the community, with more than $216 billion in annual trade passing …
AUSTIN, TEXAS — Newport Beach, Calif.-based MIG Real Estate has purchased the 99,404-square-foot Barton Oaks Plaza, a Class A office building located at 901 S. Mopac Expressway in Austin. The office building is currently 96 percent leased to tenants such as Everbank, Texas Gas and Strategic Partnerships. MIG Real Estate was self-represented in the transaction. J. Todd Mills and Casey Knust of CBRE represented the seller.