PEARLAND AND CYPRESS, TEXAS — NorthMarq Capital has arranged two acquisition loans totaling $5.4 million for two retail properties in the suburban Houston area totaling 46,600 square feet. The properties include the 24,600-square-foot Shadow Creek Ranch in Pearland and the 22,000-square-foot Stone Gate Commons in Cypress. Paul Brighton of NorthMarq's Dallas office arranged both loans based on a 15-year term and a 25-year amortization schedule through life company lenders.
IRVINE, CALIF. — Irvine-based Faris Lee Investments has arranged the sale of six Walgreens properties around the country for $33 million. Two of the Walgreens locations include 302 University Place in Durant, Okla., and 2008 W. Palma Vista Drive in Palmview, Texas. Matt Mousavi and Patrick Luther of Faris Lee represented the buyer, an all-cash private investor based on the East Coast, in the sale of the Oklahoma store. Luther and Mousavi also represented the seller, a private owner based in Denver. LDW Palmview LLC purchased the Texas store from Dallas-based McClure Partners. Mousavi of Faris Lee represented both the buyer and seller in the transaction. The other four Walgreens included in the $33 million transaction are located in Johnson City, Tenn.; Abingdon, Va.; Aiken, S.C.; and Ooltewah, Tenn.
PLANO, TEXAS — The Plano Independent School District has hired Cadence McShane Construction Co. to renovate and expand Brinker Elementary School, located at 3800 Clark Parkway in Plano, and J.M. Daffron Elementary School, located at 3900 Preston Meadow Drive in Plano. Cadence McShane will renovate 67,676 square feet of space at Brinker and construct 21,048 square feet. The construction firm will also renovate 67,676 square feet of space at J.M. Daffron and add 17,000 square feet. Construction on both projects begins in March and will wrap up in August 2014. PBK is providing architectural services for the Brinker project, and Perkins + Will is providing architectural services for J.M. Daffron. The schools will remain open throughout the construction process.
GRAND PRAIRIE, TEXAS — General Electric Co. has renewed a long-term lease for the 470,000-square-foot Regency II, an industrial property located at 1011 Isuzu Parkway in Grand Prairie. Michael Spain and Kevin Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the landlord, Ohio-based OTR GP, in the lease transaction. Steven Berger of CBRE represented the tenant. GE has leased space at Regency II since January 1997.
HOUSTON — A new 30,000-square-foot terminal facility in Houston has been delivered for Loomis, a cash-handling services firm. The facility allows the company's armored trucks to load and unload currency efficiently. The facility is constructed with concrete tilt walls and includes a 2,400-square-foot fleet maintenance facility. Archway Properties developed the project, Arch-Con Construction constructed it, Munson Kennedy designed it and Jones Lang LaSalle represented Loomis in the land transaction.
SAN ANTONIO — LMI Capital has arranged a $3.1 million refinancing loan for a 131-unit multifamily property in north San Antonio. Jamie Mullin of LMI Capital arranged the 10-year loan to amortize over 25 years through Fannie Mae. The loan has a fixed interest of 4.19 percent and features 75 percent leverage.
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.
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.
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.
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.