Texas

M&M ARRANGES MULTIFAMILY SALE

by admin April 17, 2012

FORT WORTH — Marcus & Millichap has brokered the sale of Crestwood Apartments, located on the corner of White Settlement and Bailey Avenue in west Fort Worth. Boyan Radic and Mason Green of Marcus & Millichap's Fort Worth office represented the seller, a California-based family trust, in the off-market transaction. The buyer was a local limited liability company and financing was arranged through a local bank at 75 percent LTV. The buyer plans to replace the roof and update many of the unit interiors. The apartment complex is currently 100 percent occupied.

April 17, 2012

INDUSTRIAL BUILDING SELLS

by admin April 17, 2012

BAYTOWN — A 8,200-square-foot industrial building, located at 2209 Market St. in Baytown, has been sold. David Hummel of Coldwell Banker Commercial United, Realtors' Houston office negotiated the sale between the seller, All Tech Inspection, and the buyer, Texas Colt Services.

April 17, 2012

Retail Texas

WALGREENS IN WOODWAY SELLS FOR $4.75M

by admin April 16, 2012

WOODWAY — A 14,280-square-foot retail property leased to Walgreens through 2030, located on a 1.8-acre parcel in Woodway, has been purchased for $4.75 million. New Hope, Pa.-based National Net Lease Realty represented the seller, a private investor from California, in the transaction. The buyer was also a private investor from California.

April 16, 2012

Retail Texas

THE MARKET AT VALLEY PARKWAY SELLS

by admin April 16, 2012

LEWISVILLE — The approximately 24,518-square-foot Market at Valley Parkway, a community retail center located at the northeast corner of Round Grove Road and Valley Parkway in Lewisville, has been purchased. The retail center features tenants including Great Clips, The UPS Store, State Farm Insurance, Subway, H&R Block, Kumon Learning Center, Southfork Dental, Edward Jones and Design Floors. The center is also shadow-anchored by a 62,000-square-foot Tom Thumb. The Weitzman Group/Cencor Realty Services represented the buyer, Lewisville Grove Parkway, in the transaction.

April 16, 2012

Civic Texas

S&P TO BUILD $16.8M ELEMENTARY SCHOOL

by admin April 16, 2012

DALLAS — The Dallas Independent School District has chosen Satterfield & Pontikes Construction's (S&P) Dallas/Fort Worth office to build the 95,000-square-foot Thelma Elizabeth Page Richardson Elementary School, located in the Pleasant Grove community in southeast Dallas. S&P is teaming up with 3i Construction for the $16.8 million project. BRW Architects designed the school in accordance with the Texas Collaborative for High Performing Schools' code of environmental standards. The school will accommodate 821 students and is slated for a fall 2013 completion.

April 16, 2012

Multifamily Texas

NORTHMARQ ARRANGES $5.92M MULTIFAMILY LOAN

by admin April 16, 2012

AUSTIN — NorthMarq Capital has secured $5.92 million in first mortgage refinancing for the 77-unit Townhollow Apartments, located at 1200 Treadwell St. in Austin. Nathan Prouty of NorthMarq's San Francisco office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance.

April 16, 2012

Retail Texas

TRADEMARK, IMI PURCHASE TWO RETAIL CENTERS

by admin April 13, 2012

CORPUS CHRISTI — Fort Worth-based Trademark Property, in a joint venture with Institutional Mall Investors (IMI), has acquired the 15.53-acre Staples Center and the 3.81-acre Mt. Vernon Center, located directly across from La Palmera Mall in Corpus Christi. The retail centers will undergo a rebranding and renovation, ultimately being named The Shops at La Palmera and totaling approximately 200,000 square feet. The redesign and renovations are slated to begin in late 2012 with a 2013 completion. Trademark will lease and manage the center.

April 13, 2012

Office Texas

TCC, PREI ACQUIRE FUTURE OFFICE BUILDING SITE

by admin April 13, 2012

HOUSTON — Trammell Crow Co. (TCC) and Principal Real Estate Investors (PREI) have purchased an 18.9-acre site, located at the southwest corner of Interstate 10 and North Eldridge Parkway in Houston's Energy Corridor. The site will be the home of a multi-phase development that will include up to 1.5 million square feet of Class A office space. The first phase will be a 530,000-square-foot office building and a nine-level, free-standing parking garage. Amenities will include a double-height lobby, a fitness center, a conference center and a dining facility. Houston-based Kirksey Architects is designing the property to achieve LEED Gold certification. Construction is slated to begin late 2012 with a late 2014 delivery. Aaron Thielhorn, Kevin Schmok and Brandon Houston of TCC's Houston office will lead the development team.

April 13, 2012

Office Texas

NAI ROBERT LYNN BROKERS 307,745 SF LEASE

by admin April 13, 2012

ARLINGTON — Dallas-based NAI Robert Lynn has arranged a 307,745-square-foot lease of office/warehouse space, located at 3000 E. Pioneer Parkway in Arlington. Craig Jones of NAI Robert Lynn represented the tenant, Automotive Parts Distribution International, in the lease transaction. Canon Green and Bates Arnot of Stream Realty's Dallas/Fort Worth office represented the undisclosed landlord.

April 13, 2012

Office Texas

HINES ARRANGES LEASE IN PHOENIX TOWER

by admin April 13, 2012

HOUSTON — Houston-based Hines has brokered WorleyParson's lease of 50,716 square feet of office space in the 629,000-square-foot Phoenix Tower, a 34-story office tower located at 3200 Southwest Freeway in Houston. Lou Cushman and Courtney Estenson of Cushman & Wakefield of Texas' Houston office represented the tenant in the lease transaction. Paula Burns and Tyler Garrett of Hines represented the landlord, FSP Phoenix Tower Limited Partnership.

April 13, 2012

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