HOUSTON — ARA has arranged the sale of two multifamily properties, the 181-unit Capital Estates and the 151-unit Harbortree apartment communities, both located in Houston's Clear Lake submarket. David Wylie, Russell Jones, Zach Springer and Matt Saunders of ARA's Houston office represented the seller in the transaction. Houston-based Dakota Enterprises acquired the REO portfolio. Capital Estates is 78 percent occupied, while Harbortree is 73 percent occupied.
DALLAS — Adolphus Tower, located at 1412 Main St. in downtown Dallas, has added Freshii, a new health-casual restaurant concept, to its tenant roster. Freshii will occupy 2,600 square feet of walk-up retail space on the Akard Street side of Adolphus Tower. Construction of the restaurant will begin this month and the tentative opening date is March 1, 2013.
RICHARDSON — Stream Realty Partners, in a partnership with Goddard Investment Group, has acquired Waterview Place I & II, a 230,000-square-foot office campus located at 17655-17657 Waterview Parkway in Richardson. The vacant property was acquired at a foreclosure sale at the Collin County Courthouse. The property once served as the corporate headquarters for Alliance Data Systems. Ramsey March and Matt Wieser of Stream Realty Partners will handle operations and leasing on behalf of the partnership. The office campus has been renamed Waterview 190.
MESQUITE — Denver-based Baceline Investments, a boutique private real estate investment company, has purchased the 49,125-square-foot MJ Crossing, a neighborhood shopping center located at 1418 N. Town East Blvd. in Mesquite, for $3.8 million. The shopping center is the eighth property in Baceline's No Debt Fund III portfolio. The center is fully leased to tenants such as K&G Men's Store and a Sears Outlet store.
MCALLEN — A joint venture between Cielo Realty Partners and MIMCO has purchased a vacant 79,000-square-foot retail property, located in the Las Tienddas Shopping Center at the corner of Expressway 83 and McColl Road in McAllen. The property is connected to a Target. Coler Yoakum of HFF represented the seller in the transaction. The joint venture was self-represented and plans to renovate and market the property immediately.
AUSTIN — ARA has arranged the sale of the 68-unit South Congress Commons, a multifamily property located in Austin. The multifamily community is 96 percent occupied. Matt Pohl and Andrew Shih of ARA's Austin office represented the seller, Austin-based Seamless Capital, a privately held investment firm, in the transaction. South Congress Commons is the first Austin acquisition for Fort Lauderdale, Fla.-based DeLavaco Properties, a privately held investment firm.
HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of a 26,575-square-foot church building, located at 7934 Highway 6 N. in the Copperfield area of northwest Houston. Vince Elder of Coldwell Banker represented the seller, Heritage Presbyterian Church, in the transaction. The buyer is World Changers International.
HOUSTON — Carter Validus Mission Critical REIT has acquired a 14,000-square-foot surgery center in Houston for $4.7 million. The facility is fully leased to Northwest Surgery Center and there are 14 years remaining on the lease.
IRVING — Red River Asset Management has purchased Imperial Square, a five-building office complex located at 2401-2477 Gateway Drive in Irving. The property is 68 percent leased to tenants such as Verizon Wireless and the GSA. The complex totals 129,000 square feet. Larry McCorkle, Bo Bond and John Alvarado (now with CBRE) represented the seller, Rushmore Imperial Square, in the transaction. New York-based Angelic Real Estate arranged acquisition financing through Viewpoint Bank. Bruce Stern of Red River is teaming up with Jon Altschuler and Katie Chu of Altschuler and Co. to market the property for leasing.
PLANO — Dallas-based Winzer Corp. has awarded Alliance Architects the bid to design a new 139,000-square-foot office/distribution facility, which will be located at the corner of Plano Parkway and North Star Road in Plano. The build-to-suit facility will feature painted tilt wall panels, ribbon windows with a metal canopy, a freestanding entrance wall, two-story glass curtainwall and a two-story open-air lobby. Pacheco Koch Consulting Engineers is providing civil engineering design services, Hunt & Joiner Consulting Structural Engineers is providing structural design services, Belle Firma is providing landscape design services, Weeks Robinson Properties is the developer, Transwestern assisted Winzer in the site selection, Panattoni Construction is providing general contracting services and Pritchard Associates is serving as the construction manager.
