Texas

GORDON PARTNERS BUYS NORTHWEST VILLAGE SHOPPING CENTER

by admin March 6, 2013

HOUSTON — Houston-based Gordon Partners has purchased the 190,000-square-foot Northwest Village Shopping Center, located at the corner of Highway 290 and Jones Road in Houston. The property is 87 percent leased to 35 tenants, including Spec's Wines, Liquor and Finer Foods, Harbor Freight Tools, Exclusive Furniture, T-Mobile and Subway. Gordon Partners plans to remodel the center and create junior anchor space opportunities. The shopping center is Gordon Partners' first Houston acquisition. The seller in the transaction was Baceline Value Fund I.

March 6, 2013

Texas

M&M BROKERS SALE OF STORAGE KING – CEDAR HILL

by admin March 6, 2013

CEDAR HILL, TEXAS — Marcus & Millichap has arranged the sale of the 60,630-square-foot Storage King – Cedar Hill, a self-storage facility located at 1090 S. US-67 North in Cedar Hill. The facility features 166 non-climate controlled units, 104 climate-controlled units and 69 boat/RV parking units. Brandon Karr of Marcus & Millichap's Fort Worth office represented the seller, a private investor, in the transaction. Karr also sourced the buyer, a limited liability company.

March 6, 2013

Multifamily Texas

THOROFARE CAPITAL FUNDS $3.15M MULTIFAMILY ACQUISITION LOAN

by admin March 6, 2013

HOUSTON — Los Angeles-based Thorofare Capital has funded a $3.15 million acquisition loan for the 208-unit Chelsea Lane Apartments in Houston. The borrower, a multifamily investor, plans to purchase, renovate and re-tenant the apartment community. The renovation is expected to cost $1 million and will include roof repairs, an updated HVAC system, updated project gates, parking lot repairs, plumbing upgrades, floor and window renovations and updated cabinetry. The property was built in 1974 and is currently 41.8 percent occupied. Thorofare funded 67 percent of the total project costs, including transaction fees, renovation budget and closing costs.

March 6, 2013

Healthcare Texas

THE SANDERS TRUST ACQUIRES $13M SURGERY CENTER IN AUSTIN

by admin March 5, 2013

AUSTIN, TEXAS — Birmingham, Ala.-based The Sanders Trust has purchased Kyle Medical Plaza in Austin for $13 million. The 42,000-square-foot facility includes the Hays Surgery Center, MRI testing space, physical therapy and physician practices. The Hays Surgery Center features five operating rooms and is the first outpatient surgery center in the area.

March 5, 2013

Multifamily Texas

ARA ARRANGES SALE OF SPRINGFIELD AT BALLPARK WAY

by admin March 5, 2013

ARLINGTON, TEXAS — ARA has brokered the sale of the 264-unit Springfield at Ballpark Way, located in northern Arlington near the city's entertainment district. Brian O'Boyle, Sr., Brian O'Boyle, Jr., Brian Murphy and Richard Furr of ARA's Dallas office represented the seller, Timberland Partners, in the transaction. The Class B multifamily community is 95 percent leased.

March 5, 2013

Texas

CHURCH PURCHASES FOUR-BUILDING COMPLEX IN IRVING

by admin March 5, 2013

IRVING, TEXAS — South MacArthur Church of Christ Inc. has acquired a 73,076-square-foot, four-building complex at 1700 E. Airport Freeway in Irving. The church purchased the complex and will begin renovations once current tenant Goodson Acura vacates the space. Renovations will include repurposing the space for a chapel and upgrading the exterior of the property. The church is planning on holding services at the new location in three months. Joe Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the buyer in the transaction. Bob Ginsburg of CBRE represented the seller.

March 5, 2013

Industrial Texas

COLDWELL BANKER BROKERS INDUSTRIAL SALE

by admin March 5, 2013

PEARLAND, TEXAS — Coldwell Banker Commercial United, Realtors has arranged the sale of a 5,922-square-foot industrial property, located at 2233 Garden Road in Pearland. Mike Chance of Coldwell Banker represented both the seller, Crane Technologies Inc., and the buyer, Oakland Land & Development, in the transaction.

March 5, 2013

Retail Texas

7-ELEVEN TO PASS 50,000 STORES THIS MONTH

by admin March 4, 2013

DALLAS — Dallas-based 7-Eleven Inc. has achieved record store growth in 2012 and is expecting the number of 7-Eleven stores worldwide to pass the 50,000-store mark in March. The company added close to 5,000 stores to its portfolio in 2012 alone. The company's growth strategy in the U.S. is to build market concentration in the major metropolitan areas. By the end of 2012, the company had more than 10,000 North American stores and 39,000 stores in 13 countries throughout Europe and Asia.

March 4, 2013

Office Texas

KDC SELLS INTEREST IN THE CAMPUS AT LEGACY IN PLANO

by admin March 4, 2013

PLANO, TEXAS — KDC, a commercial real estate development and investment firm, has sold its remaining interest in The Campus at Legacy to its equity partners Spear Street Capital. The Campus at Legacy, a 107-acre, multi-tenant corporate campus in Plano, is currently 98 percent leased to tenants such as Denbury Resources, PepsiCo, St. Jude Medical, Bear Transportation, Futurewei Technologies, Dr. Pepper Snapple Group Inc., Lifecare, North American Coal Corp., World Ventures and Rent-A-Center.

March 4, 2013

Industrial Texas

STREAM REALTY ARRANGES 50,000 SF INDUSTRIAL LEASE RENEWAL

by admin March 4, 2013

GRAND PRAIRIE, TEXAS — Stream Realty Partners has negotiated a 50,000-square-foot lease renewal of industrial space, located at 2510 W. Main St. in Grand Prairie. Cannon Green and Matt Dornak of Stream Realty represented the landlord in the transaction. Patrick Johnson, also of Stream Realty, represented the tenant, Complete Line Glass.

March 4, 2013

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