SAN ANTONIO — CBRE San Antonio has arranged a 56,000-square-foot industrial lease renewal at 402 N. Tayman St. in San Antonio. Rob Burlingame and Josh Aguilar of CBRE San Antonio represented the landlord, Bre/Dp Tx LLC, in the lease deal. The tenant is Rail Link International.
Texas
DALLAS — The Plaza at Preston Center, an upscale shopping destination located in the affluent Park Cities neighborhood in Dallas, has added new tenants and will experience expansions to existing retailers. International retailers LUBLU Kira Plastinina and Aftershock London have selected The Plaza for their flagship U.S. stores. LUBLU will occupy 1,096 square feet and Aftershock London will occupy 1,850 square feet on the ground floor of a new building currently under development. Other new tenants include Sprinkles Ice Cream and True Food Kitchen, which are both making their Texas debut with these new restaurants. Sprinkles will occupy 1,135 square feet and True Food Kitchen will occupy 4,419 square feet. Additionally, Sprinkles Cupcakes and Calypso St. Barth are expanding and/or relocating their stores in The Plaza. Calypso will occupy 3,173 square feet. Other new and/or returning retailers include Dallas jewelry maker Matthew Trent (1,600 square feet) and Bag'n Baggage (3,419 square feet). With the new additions and expansions, The Plaza is nearly 100 percent leased. Mike Geisler and Easley Waggoner of Venture Commercial represented the landlord in the lease negotiations. Rand Horowitz of First Resource Realty represented Bag'n Baggage, Zachary Porter of Retail Street Advisors represented LUBLU, Lisa Streidl of …
PASADENA, TEXAS — Variant Commercial Real Estate has purchased a bank-owned, 759-unit self storage facility in Pasadena. The 90,000-square-foot facility is made up of both climate controlled and non-climate controlled units. Variant will bring in Morningstar to manage the facility. The acquisition brings Variant's self storage portfolio to almost 400,000 square feet.
HOUSTON — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $5.4 million, fixed-rate acquisition loan for Edgebrook Shopping Center in Houston. Fiesta Grocery Store anchors the 69,450-square-foot property. Todd McNeill of MCA arranged the 10-year, 4.2 percent loan with a 30-year amortization schedule through a Wall Street conduit lender.
DALLAS — CBRE has secured the lease agreement for Regions Bank's move to 17Seventeen McKinney, an office building located at the corner of Akard Street and McKinney Avenue in Uptown Dallas. Regions will occupy both regional offices and a retail bank branch, totaling 70,970 square feet. The bank signed the lease with Granite Properties, the developer of 17Seventeen McKinney. The office building is part of Park Seventeen, a mixed-use development owned by GPI-M Uptown LP, a joint venture between Granite and MetLife. Regions will move into the space, which will serve as the company's Texas headquarters, in January 2014. Jerry Cobb Jr. and Christine Mickey of CBRE's Dallas office, along with Scott Willenbrock of CBRE's Birmingham, Ala., office, represented Regions in the lease. CBRE also serves as Regions Bank's property management partner. The landlord was self-represented by Robert Jimenez and Jim Kirchhoff.
ODESSA, TEXAS — Epperson Co. and the Sewell Family of Cos. has opened Phase I of the 65-acre Parks Legado Town Center in Odessa. The mixed-use development's first phase includes a 120-room Residence Inn by Marriott, an Aim Bank branch and 27,000 square feet of restaurant and retail space. Tenants include The Egg and I, Cork and Pig Tavern, Kenzington's Kloset, Joe James Salon and Aveda Day Spa. Upcoming tenants in Phase I include Cavender's, Whitehouse Market and Jersey Mike's Subs. Phase II will include a Marriott Courtyard, Hilton Homewood Suites, Sewell Volkswagen, Sewell Ford-Lincoln, pad sites and 20,000 square feet of shop space.
CANTON AND CORINTH, TEXAS — National Health Investors (NHI) has purchased two skilled nursing facilities totaling 254 beds in Canton and Corinth. The $26.3 million purchase was funded from borrowings on NHI's revolving credit facility.
AUSTIN, TEXAS — Seattle-based Metzler Real Estate has sold TechRidge Five, a 226,076-square-foot industrial property in Austin for $24 million. Investor group GH TechRidge Five Inc. purchased the Class A facility, which is fully leased to NCS Pearson, an education and publishing company. The light industrial facility is located at 905 W. Howard Lane. Metzler was self-represented by Matthew Paddock, in addition to Jack Fraker and Josh McArtor of CBRE, in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA) has brokered the sale of The View at Encino Commons, a 324-unit multifamily community at 21303 Encino Commons in northern San Antonio. The community features a resort-style swimming pool, an outdoor fireplace pavilion, clubhouse, Internet cafe, fitness center, surround-sound movie theater, entry gates, car wash and direct access garages. Will Balthrope and Scott Lamontagne of IPA represented the seller in the transaction. McCann Realty Partners is the buyer. IPA is the multifamily brokerage division of Marcus & Millichap Real Estate Services and serves institutional and major private investors.
HOUSTON — Resource Real Estate Opportunity REIT has purchased the 244-unit Armand Place in the Clear Lake community in Houston. The multifamily community features two swimming pools, a 24-hour fitness center, wood-burning fireplaces and shuttle services to the University of Houston-Clear Lake. Resource plans to make capital improvements to the property in the near future. Resource Real Estate Opportunity REIT is sponsored by Philadelphia-based Resource Real Estate Inc., a real estate investment and management firm.