DALLAS — Marcus & Millichap has arranged the sale of the 208-unit Mayan Palms, a multifamily community located at 7526 Hunnicut Road in Dallas. The property is 91 percent occupied, and the buyer plans to make renovations to the community. Al Silva of Marcus & Millichap’s Fort Worth office represented the seller, an El Paso-based partnership, in the transaction. Silva also represented the buyer, Mayan Palms LLC.
HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of the 12,000-square-foot Union Plaza Shopping Center, located at 7401 Alabonson Road in northwest Houston. Mark McGinley of Coldwell Banker represented the seller, a California-based bank, in the transaction.
HOUSTON AND DALLAS — Houston-based Hines has selected Houston-based Colvill Office Properties to direct leasing and marketing for 15 properties totaling 12 million square feet, located in Houston and Dallas. Colvill Office Properties has an expanded total of 20 million square feet in leasing assignments.
HOUSTON — ARA has arranged the sale of the 380-unit AMLI Towne Square, an apartment community located half a mile east of downtown Houston. The property is 98 percent occupied. Matthew Rotan, David Oelfke, David Mitchell and David Wylie represented the seller, Chicago-based AMLI, in the transaction. The buyer was Colorado-based Baron Properties.
PASADENA — Houston-based Boxer Property has been awarded the management and leasing of the 56,000-square-foot Bank of America Building, an office property located at 213 W. Southmore Blvd. in Pasadena. Doug Pack of Boxer Property negotiated the agreement, which brings Boxer's third-party management portfolio to more than 5 million square feet.
HOUSTON — Marcus & Millichap has secured the sale of a 30,500-square-foot retail property located at 2800 San Jacinto St. in Houston. Edward Benton and Justin Miller of Marcus & Millichap's Houston office, along with David Ching of the firm's Oakland, Calif., office, represented the seller, a financial institution, in the transaction. Benton, Miller and Ching also represented the buyer, a developer.
MAGNOLIA — Boyd Commercial/CORFAC International has arranged a 97,000-square-foot industrial lease, located on 9.4 acres at 5434 FM 1488 in Magnolia, to Complete Drilling Solutions. The property features 3,000 square feet of office space, 8,000 square feet of shop space, 86,000 square feet of manufacturing/warehouse space, three five-ton bridge cranes, one three-ton bridge crane, 10 grade-level doors and five truck docks. David Boyd of Boyd/CORFAC represented the landlord, Florida-based Silverstein Enterprises of Magnolia, in the lease transaction. Steve Kuper and Preston Yaggi of The National Realty Group represented the tenant.
CARROLLTON — Henry S. Miller Brokerage has arranged Fallas Discount Store's relocation from Valwood Village in Farmers Branch to the Carrollton Park Shopping Center in Carrollton. The discount store will lease 15,116 square feet of space, located at 1103 Josey Lane in Carrollton. Shawn Ackerman of Henry S. Miller represented the tenant in the lease transaction.
THE WOODLANDS — HFF has closed the sale of the 145,580-square-foot 2001 Timberloch, an office building located in the mixed-use development Town Center in The Woodlands. The property is fully leased to Repsol USA and Entergy Services. Dan Miller and Trent Agnew of HFF represented the seller, CalSTRS, which was advised by CBRE Global Investors, in the transaction. The buyer was Principal Real Estate Investors.
HOUSTON — Gaia Real Estate has purchased two apartment communities in the Houston area totaling 708 units. The two properties are the 408-unit Steeples Apartments and the 300-unit Township Apartments. Steeples Apartments features a 24-hour fitness center, two pools, walk-in closets, laundry facilities and covered parking. Township Apartments features a fitness center, two pools, sports courts, a playground and an outdoor barbecue station. Gaia recently opened an office in Dallas to oversee its Texas portfolio, which now includes 23 properties.