FORT WORTH, TEXAS — Marcus & Millichap has secured the sale of the 33-unit Las Brisas, an apartment complex located at 6414 Brentwood Stair Road in Fort Worth. The property was built in 1969 and underwent significant renovations in 1993. William Jarnagin, Michael Ware and Stephen Crittenden of Marcus & Millichap's Dallas office represented the seller, a private investor, in the transaction.
HOUSTON — CBRE has been retained to market 919 Milam, an historic 24-story office tower located in Houston's CBD. The office building spans 543,259 square feet and is 94 percent leased to energy-based tenants. The property is LEED Silver certified and is Energy Star rated. The office building is situated at the center of the downtown Houston pedestrian tunnel system, and it features four levels of parking, a food court, new tenant conference center, full-service banking and 24-hour security. The property has undergone $19.3 million worth of renovations since 2006, including more than $3.2 million invested by the current owner, Fort Worth-based M-M Properties. Jared Chua, Bernard Branca, John Alvarado, Russell Ingrum and Gary Carr of CBRE will market 919 Milam on behalf of the owner.
KILLEEN, TEXAS — Skanska has signed a contract with Texas A&M University-Central Texas to construct a $23.8 million, four-story facility on its new Killeen campus. The project is Phase II of the new master-planned campus, which will house the campus library, counseling center, career services, school of education, social work program, instructional technology, teachers' offices, classrooms and laboratory space. Good Fulton & Farrell Architects is the project's architect. Construction is under way on the building and its completion is expected in March 2014.
DALLAS — Billingsley Co. has begun construction of the new 300,000-square-foot Bush Beltline Distribution Center, located at the intersection of Belt Line Road and George Bush Turnpike 190 in Dallas. The distribution center will include 32-foot clear heights, cross docks and 135-foot truck courts. The building was 86 percent leased before the ground breaking. Mattress Firm has secured a lease for 153,000 square feet in the center. The landlord, Billingsley Co., was self-represented by Marijke Lantz and Carter Crow. Damian Rivera and Graham Horton of Stream Realty Partners represented Mattress Firm. The property is slated for a July 2013 completion.
DALLAS — Hammond Hanlon Camp LLC, a healthcare investment banking firm, has advised SRP Medical and Forest Park Medical Center on the $26.75 million sale of Forest Park Pavilion, a 69,000-square-foot medical office building in Dallas. Healthcare Trust of America, a publicly traded REIT, has purchased the property, which is fully leased to Forest Park Medical Center and third-party physicians. Forest Park Pavilion is part of the Forest Park Medical Center campus.
KYLE, TEXAS — Block Funds has acquired The Settlement, a 396-unit luxury multifamily community located in Kyle, which is just south of Austin. The property was delivered in January 2012. Block Multifamily Group, a division of Block Real Estate Services, will manage the property.
GARLAND, TEXAS — Westmount Realty Capital has purchased a 341,840-square-foot manufacturing distribution facility in Garland. The distribution facility is fully leased to Apex Tool Group, which recently signed a new 20-year net lease. Apex Tool Group builds hand, power and electric tools, most notably the Sears Craftman brand. Other brands include Crescent, Armstrong, Allen and Kobalt. Apex is owned by a joint venture between Danaher Corp. and Cooper Industries. Westmount will invest approximately $1.5 million in interior and exterior building improvements, including new finishes throughout. Lee and Associates represented the seller in the transaction. Additionally, NorthMarq Capital arranged acquisition financing.
AUSTIN, TEXAS — ARA has secured the sale of the 309-unit Avanti Hills, an apartment community formerly known as Alexan Galleria, located at 12601 Bee Cave Parkway in Austin. The property is 96 percent occupied and features two resort-style swimming pools, remote-control limited entry gates, a fitness center and landscaping. Patton Jones of ARA's Austin office represented the seller, an undisclosed Fortune 500 bank, in the transaction. The buyer was an undisclosed private investor based in Austin.
DALLAS — Red River Asset Management has purchased the four-story, 239,000-square-foot 12404 Park Central, an office building located in Dallas. Red River purchased the property from Oaktree Capital, and is set to secure a seven-year lease extension with its largest tenant, MEplusYOU. John Beach of Jackson Cooksey represented the tenant in the lease transaction. Red River is partnering with Merriman Associates/Architects to update the building's lobby finishes, 3,000-gallon fresh water aquarium, multiple water features and living plant walls. John Alvarado of Jones Lang LaSalle, now with CBRE, represented the seller in the transaction. Lincoln Property will manage the building and Grant Sumner of Peloton will retain leasing services. Gabriel Silverstein and Louis D'Lando of New York City-based Angelic Real Estate arranged the loan through Texas-based American National Insurance Co., as well as provided acquisition services to Red River.
DENTON, TEXAS — Cadence McShane Construction Co. has been selected to renovate and construct the final phases of the approximately 765,000-square-foot Golden Triangle Mall, located at Interstate 35 East and Loop 288 in Denton. The new construction includes renovating the food court, renovations to retail spaces and modifications to the mall's entrance and parking lots. The community's anchors include Dillard's, Macy's, JC Penney and Sears. GTM Development Ltd. is the owner of the mall, which features more than 70 retailers. C.M. Architecture is providing design services for Phase II and Brockette/Davis/Drake Inc. is providing civil engineering services for Phase III. Cadence McShane will conduct most of the construction work after the close of business hours.