AUSTIN — ARA has arranged the sale of the 156-unit Summer Wind, an apartment complex located at 883 Fairfield Drive in Austin. Andrew Shih of ARA's Austin office represented the seller, who foreclosed on the property. Kansas City, Mo.-based Spectrum Business Ventures is the buyer. The property is 93 percent occupied and features a swimming pool, wood-burning fire places and bay garden windows.
HOUSTON — Gainer, Donnelly & Desroches, an accounting firm, has relocated offices and is leasing more than 45,000 square feet of space at Two Riverway, an office building located in Houston. The accounting firm will take on the office building's 15th and 16th floors.
ROUND ROCK — IKEA Round Rock, located along Interstate Highway 35 at University Boulevard, has finished its 54,000-square-foot expansion and now sits at approximately 306,000 square feet. Construction work began in October 2011 and the store has remained operational throughout the process. IKEA also added a three-story parking garage to offset the expansion extending into the existing parking lot.
FORT WORTH — Velocis and its investors have purchased the 89,727-square-foot Magnolia Medical Tower, a medical office building located in Fort Worth's Medical District. The property, formerly known as the Medical Arts Building, was built in 1985 and is currently 67 percent leased to private doctors and medical service firms. Velocis plans to invest $1.5 million to upgrade the elevators, improve entries and exits, modernize the lobbies, refurbish the parking garage and upgrade the corridors and bathrooms. Will Northern of Northern Realty Group, along with Velocis Fund Advisory Board member Webber Beall III, represented the buyer in the transaction. Lincoln Harris, CSG will manage and lease the property.
HOUSTON — HFF has brokered the sale of the 376-unit Tanglewood at Voss, a Class A, mid-rise multifamily property located at 7510 Burgoyne Road and 2301 S. Voss Road in Houston. Each building of the property includes a clubhouse, resort-style pool and fitness center. The apartment community is currently 96.5 percent leased. Craig LaFollette, Todd Marix, Todd Stewart, Tre Banks and Chris Curry of HFF represented the seller, Behringer Harvard, in the transaction and procured the buyer, Cornerstone Real Estate Advisers.
ROUND ROCK — Marcus & Millichap has arranged the sale of The Links at Forest Creek, a 152-unit, 142,348-square-foot apartment complex located at 20404 Poppy Hills Trail in Round Rock. The property features a clubhouse, fitness center and a resort-style swimming pool. Joe James and Kent Myers of Marcus & Millichap's Austin office represented the local seller in the transaction and procured the California-based buyer. Peter Dunn of Marcus & Millichap Capital Corp.'s Houston office arranged financing.
TULSA, OKLA. — Five dental clinics fully leased to My Dentist, located in Texas, Oklahoma and Arkansas, have sold for $9.48 million. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, an Oklahoma City-based developer, in the transaction and procured the buyer, a New York-based REIT. The properties are debt-free and have newly established 15-year, triple net leases with attractive annual rent increases.
PITTSBURG — Binswanger has arranged the sale of a 175,000-square-foot office building, located at 4845 U.S. Highway 271 in Pittsburg. The facility is the former Pilgrim's Pride corporate headquarters. The buyer, Region 8 Education Service Center, plans to use the property as an in-house training facility for 47 school districts in east Texas. The property features six meeting rooms wired for video conferencing, a meeting room that can sit 265 people, four elevators, motion detecting lighting, nine break rooms, 18 restrooms and 1,000 parking spaces. Holmes Davis of Binswanger's Dallas office represented the seller, Pilgrim's Pride Corp., in the transaction.
PARIS — The Ensign Group has purchased the 150-bed Paris Nursing & Rehabilitation Center, a skilled nursing facility located at 2900 Stillhouse Road in Paris. The facility is currently 59 percent occupied. The facility is Ensign's 105th healthcare property.
SAN ANTONIO — AMJ Commercial Holdings LLC has purchased an 87,951-square-foot warehouse, located at 11503 Jones Maltsberger Road in San Antonio, from NCBTX TX LCC. Brett Baillio of First American Commercial Property Group represented the seller in the transaction.
