IRVING, TEXAS — Quality Technology Services (QTS) has purchased a 700,000-square-foot former semiconductor plant in the Las Colinas submarket of Irving with plans to convert the facility into a data center. The plant sits on a 40-acre campus, which allows the facility to more than double its footprint. The site will be brought on line in phases, and tenants will be added as early as first quarter 2014. Jones Lang LaSalle represented QTS in the transaction. ATREG Inc., in coordination with Citadel Partners, represented the seller.
SAN ANTONIO — NorthMarq Capital has arranged $8.25 million in first mortgage refinancing for the 216-unit Wolfe Run Apartments, located at 8602 Cinnamon Creek in San Antonio. Robert Ranieri of NorthMarq arranged the 10-year loan to amortize over 30 years through Freddie Mac on behalf of the borrower, Wolfe Run Associates Limited Partnership.
DALLAS — Colliers International North Texas has arranged the sale of two office buildings in Uptown Dallas totaling 188,893 square feet. The two office buildings are 3500 Oak Lawn and 4245 North Central Expressway. Creighton Stark and Ben Lurie of Colliers represented both the buyer, Caddo Holdings LLC, and the seller, California-based M West, in the transaction.
CARROLLTON, TEXAS — CBRE has brokered the sale of a 288,000-square-foot industrial property, located at 1800 Columbian Drive in Carrollton. Jack Fraker, Josh McArtor, Jonathan Bryan and Heather McClain Venegoni of CBRE represented the seller, Clarion Partners, in the transaction. The buyer was Iron Mountain, the sole tenant of the property.
EL PASO, TEXAS — ARA has brokered the sale of the Mountain Shadow Apartment Homes, located at 2500-2624 Morehead Ave. in El Paso. The Mountain Shadow development is a collection of apartment properties, including the 72-unit Mountain Shadows, the 28-unit Sun City and three single-family homes. The development features views of the Franklin Mountains, a swimming pool, four laundry facilities and picnic areas. The development is 94 percent occupied. Jeff Patterson and Kelly Witherspoon of ARA's Austin office represented the seller, a Colorado-based private investor, in the transaction. The buyer is a local, private investor.
SAN ANTONIO — Marcus & Millichap has arranged the sale of the 16-unit Arcadia Place, a multifamily community located at 216 Arcadia Place in the Alamo Heights area of San Antonio. Zar Haro, Michael Moffit Jr. and Moses Siller of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.
HOUSTON — Birmingham, Mich.-based Bloomfield Capital has closed a $3.3 million senior bridge loan for the acquisition of a 240-unit apartment complex located in Houston. The borrower purchased the multifamily community through a short sale. The acquisition loan also includes a reserve for capital improvements in order to renovate vacant units.
HOUSTON — Atlanta-based Cousins Properties Inc. has purchased a 100 percent interest in Post Oak Central, a Class A office complex located in Houston's Galleria submarket, for $232.6 million. The complex is 92 percent leased to tenants such as Apache Corp., Stewart Information Services and GDF Suez. The LEED Gold-certified complex includes a conference center, ground-floor retail, a daycare and restaurants. The purchase also includes a two-acre development parcel with frontage along Post Oak Central Boulevard. Cousins Properties purchased the interest from institutional investors advised by J.P. Morgan Asset Management in an off-market transaction.
HOUSTON — Houston-based Dickson Furniture has opened a new 100,000-square-foot distribution center, located at 6000 S. Loop E. in Houston. Dickson Furniture has experienced 50 percent larger inventory with dozens of new products and is expecting even greater growth in the near future. The company will begin delivering furniture from the facility immediately.
ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of the foreclosed 30,478-square-foot Fielder Place, an office building located at 1633 W. Division St. in Arlington. Karen Simon and Brian Scott of Bradford represented the seller, U.S. Bank, in the disposition of the foreclosed property, which is 40 percent leased. Jose Thankachan of Beam Real Estate LLC represented the buyer, AVK Associates LLC. Bradford's Simon and Scott had five tenants in place to lease space in the office building.