GALVESTON — St. Paul, Minn.-based AEI Capital Corp. has purchased a 12,900-square-foot PetSmart property, located in Galveston, for $2.42 million. The single-tenant property was purchased in an all-cash transaction from an undisclosed seller. The buyer was self-represented by Ian Harrison.
SAN ANTONIO — HFF has secured $4.55 million in refinancing for the 560-unit, 90,000-square-foot Austin Highway Self Storage, located west of the intersection of North Vandiver Road and Austin Highway in San Antonio. Colby Mueck and Aaron Swerdlin of HFF's Houston office arranged the 10-year, fixed-rate loan through RiverSource Investments on behalf of the borrower, Austin Highway Self Storage LTD.
DALLAS — Dallas-based U.S. Risk Insurance Group has moved its headquarters to a 41,800-square-foot space in One Lincoln Park, located at 8401 North Central Expressway in Dallas. Bill McClung, Mike Wyatt, Robbie Baty and Grant Pruitt of Cushman & Wakefield of Texas' Dallas office represented the tenant in the lease transaction. Chris Axley and Elliot Prieur of Lincoln Property Co.'s Dallas office represented the landlord, Lincoln Park Partnership.
IRVING — Irving-based FelCor Lodging Trust Inc. has agreed to sell six non-strategic hotels for $103 million to an undisclosed buyer, which has paid a $3.9 million deposit toward the purchase. After repayment of $73 million of secured debt and closing costs, FelCor expects to use the remaining $30 million to pay a portion of its accrued preferred dividends. The six hotels include the Holiday Inn San Antonio-Airport, as well as five other hotels in Florida, North Carolina and Minnesota. The transaction is slated to close in the second quarter of this year.
WILLIS — Big Diamond Inc. has purchased a 7.2-acre land tract at the southeast corner of Interstate 45 North and Calvary Road in Willis. A Valero Corner Store is slated to be built at the site. Mark Davis of Houston-based Davis Commercial represented the buyer in the transaction. The sellers were Larry and Janice Fogarty.
HOUSTON — Holt Lunsford Commercial has arranged a 75,354-square-foot lease of industrial space, located at 8000 Market St., Suites 260-280 in Houston. John Kruse of Holt Lunsford's Houston office represented the landlord, TIAA-CREF, in the lease transaction. Clay Peeples and Andy Sowell of Houston-based Boyd Commercial represented the tenant, Smart Rags Recyclers.
HOUSTON — Qdoba Mexican Grill will soon open a 2,667-square-foot restaurant in the 58,279-square-foot HEB Clear Lake shopping center, located near the intersection of Bay Area Boulevard and El Camino Real in Houston. H-E-B Grocery anchors the center, which is currently 89 percent leased to tenants including Papa John's Pizza, Darque Tan, State Farm Insurance and GNC. Ryan Orr of Houston-based Read King represented the tenant in the lease transaction. The landlord, Henry S. Miller Brokerage, was self-represented by Shawn Ackerman and Jason Du of the firm's Houston office.
FORT WORTH — The Erma Lowe Hall, home of Texas Christian University's (TCU) School of Classic and Contemporary Dance on the TCU campus in Fort Worth, has received LEED Gold certification by the U.S. Green Building Council. Michael Bennett of Fort Worth-based Bennett Benner Pettit designed the facility, which features large windows, motion sensors and timers for lighting, locally sourced materials and low-flow water fixtures. Approximately 75 percent of the original building has been used in the design, 75 percent of construction waste has been diverted from the landfill and the water usage has been reduced by approximately 50 percent.
HOUSTON — Resource Real Estate Opportunity REIT has acquired the 856-unit Bristol Apartments, located at 1401 Redford St. in Houston, for $11.4 million. The REO property is 52 percent occupied. Amenities of the complex include a clubhouse, swimming pool, fitness center and playground. The buyer plans to invest additional capital to improve the overall condition of the property. Trimont Real Estate Advisors, acting as special servicer on behalf of Fannie Mae, sold the asset.
BRENHAM — Stan Johnson Co. has arranged the sale of a 9,423-square-foot medical office building, which is fully leased for 10 years to St. Joseph's Regional Health Center, located at 110 Hwy. 290 in Brenham. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller, Navasota-based GroundForce Building Systems. The buyer is an individual investor from College Station.