MCKINNEY — NorthMarq Capital has arranged $11.4 million in first mortgage financing for the 208-unit Parkview Legends, a multifamily property located at 1701 Park Central Dr. in McKinney. Jeff Frankel of NorthMarq's Chicago office and Charlie Robinson of the firm's Dallas office arranged the 4-year loan with a 30-year amortization schedule through a Midwest-based life insurance company.
AUSTIN — National Retail Properties has plans to begin a $6 million redevelopment of Ecotech Institute, a 42,000-square-foot educational facility located in Austin. Education Corp. of America owns the new property, which is slated to break ground this month and have a July 2012 completion.
JOSHUA — Tyler-based Brookshire Grocery Co. (BGC) has purchased a 6.33-acre tract and plans to build a 37,400-square-foot Brookshire's Food & Pharmacy store at the site, located at the intersection of State Highway 174 and Stadium Drive Boulevard in Joshua. The development will be part of the mixed-use development Joshua Station. The new store will feature a gas station, an in-store pharmacy with a drive-thru window and a full-service bakery and deli.
HOUSTON — Marcus & Millichap has brokered the sale of the 111-room Econo Lodge Webster, a hotel located at 904 E. NASA Rd. 1 in Houston. Tyler Bean, Rahul Bijlani and Michael Yu of Marcus & Millichap's Houston office represented the seller, a bank/financial institution, and secured the buyer, a private investor, in the transaction.
DALLAS — The Monit organization has hired Colliers International to manage and lease more than 1.1 million square feet of industrial, showroom and flex space in the Dallas/Fort Worth metroplex. The portfolio spans 18 buildings, including the Regal Business Center in Dallas, the Regal Industrial Center in Dallas and the DFW Air Freight in Grapevine. The Regal Business Center, located at 4639, 4747 and 4757 Irving Blvd., is a three-building, 150,566-square-foot property. The Regal Industrial Center, located at 4560, 4647, 4653 and 4656 Leston Ave., is a four-building, 380,084-square-foot warehouse property. DFW Air Freight, located at 1200, 1220 and 1240 Texan Trail, is a 113,665-square-foot air freight center. Other properties in the portfolio include properties on North Beach Street in Fort Worth, Avenue R in Grand Prairie, Dalworth Street in Arlington and Pinewood in Arlington. Phil Rosenfeld, Greg Grainger, Matt Thompson, Sparkle Turner and Mike Crain of Colliers International's Dallas office will handle the portfolio's management and leasing.
FORT WORTH — Tulsa, Okla.-based LinkAmerica has plans to open a 24,000-square-foot corporate office and training center in CentrePort Business Park, located at 4400 Amon Carter Blvd. in Fort Worth. The new office is slated for a March 2012 opening.
HOUSTON — HFF has arranged the sale of the 344,295-square-foot The Plaza at Enclave, a Class A office building located at 1254 Enclave Pkwy. in Houston's Energy Corridor. The property is fully leased to Dow Chemical Co., Ridgewood Energy, Petrofac and HRT America. Dow is leasing 86 percent of the property. The building is LEED Gold certified and features a 1,434-space parking garage. Dan Miller, Rusty Tamlyn and Trent Agnew of HFF's Houston office represented the sellers, Core Real Estate and BayNorth Capital, in the transaction. Matt Kafka and Wally Reid, also of HFF's Houston office, arranged acquisition financing for the buyer, an affiliate of Tel Aviv, Israel-based Azrieli Group.
HOUSTON — CubeSmart has purchased a 534-unit self-storage facility, located at 1019 W. Dallas St. in Houston. The 47,585-square-foot facility was built in 2004 and designed by Meeks + Partners. Steve Mellon of Grubb & Ellis' Houston office and Pete Williams of the firm's Memphis, Tenn., office represented the seller, Midtown Self Storage, in the transaction.
HOUSTON — Jones Lang LaSalle has arranged a senior mortgage loan for the 312,676-square-foot CITYCENTRE Retail, a Class A retail center in Houston. The center is part of the 1.8 million-square-foot CITYCENTRE, a master-planned community. Tom Fish, Paul House and John Ream of Jones Lang LaSalle's Houston office arranged for AEGON to provide the loan through Transamerica on behalf of the borrower, Midway Cos. and a pension fund advised by L&B Realty Advisors.
DALLAS — Stream Realty Partners has been selected by J.P. Morgan Asset Management, to manage and lease the 1.2 million-square-foot Trammell Crow Center, a Class AA office tower in Dallas' Art District. J.P. Morgan acted on behalf of its institutional investor clients in selecting Stream. The office tower is leased to tenants including Vinson & Elkins, Baker Botts and PricewaterhouseCoopers. Additionally BB&T has leased a full floor of the property and will move in later this year. Sarah Erickson and Ramsey March of Stream Realty's Dallas office will handle leasing services for the property.
