LAPORTE — A joint venture between National Property Holdings and ML Realty Partners has broken ground on a 261,630-square-foot industrial property, located in the Port Crossing Commerce Center at S. 16th St. in LaPorte. The new property will feature 47 exterior docks, significant trailer storage and 16 rail-served doors. The property serves the Port of Houston and is located between the Barbours Cut and Bayport Container terminals.
SAN ANTONIO — Live Oak-Gottesman has acquired the 138,265-square-foot Centre Plaza, an office building located at 45 NE Loop 410 in San Antonio's North Central submarket. Live Oak has plans to make capital improvements to the office property, including new restrooms, a new and expanded conference room and a complete lighting retrofit. The property is 62 percent leased and Carolyn Hinchey-Shaw and Seth Prescott of Stream Realty will continue to lease the project.
DALLAS — Dallas-based BMC Capital has provided a $3.75 million loan to refinance a 102-room La Quinta Suites, located in Dallas. Jim Tennial of BMC arranged the 3- to 5-year loan with a 25-year amortization schedule.
DALLAS — Dallas-based Ashford Hospitality Trust has refinanced its $167.2 million loan, set to mature this month, with a new $135 million loan that matures in May 2014. The loan has three 1-year extension options and is secured by nine hotels. The Doubletree Guest Suites in Columbus, Ohio, is now unencumbered as part of the restructuring.
BEDFORD — Silver Oak Commercial Realty brokered the sale of a 34,000-square-foot office building, located at 221 Bedford Road in Bedford. The buyer was 221 Bedford, LLC. Russ Webb of Silver Oak represented the seller in the transaction.
HOUSTON — NAI Houston has brokered the sale of a 15,000-square-foot office building, located at 5425 Renwick Drive in Houston. Chris Caudill and Joel Michael of NAI Houston represented the seller, RGM Asset Management, in the transaction. Tim Opatrany of TAO Interests represented the buyer, Biz and Co.
HOUSTON — A 7,000-square-foot office building, located at the northwest corner of Mount Vernon and Marshall avenues in Houston, has been sold. Mark Davis of Davis Commercial represented the seller, Annunciation Orthodox School, in the transaction. Senterra and Belvoir Real Estate Group represented the seller, JoSuMar LLC. The office building will be used as a language center.
DALLAS — Mark One Capital, a subsidiary of Marcus & Millichap Capital Corp., has arranged $16.5 million in acquisition financing for an 81,585-square-foot medical office building, located in Dallas. Farhan Kabani of Mark One Capital's Dallas office arranged the loan with 3 years of interest only fixed at 3.42 percent.
ARLINGTON — American Fidelity Assurance Co. has purchased the 267,780-square-foot JPMorgan Chase Bank Tower, located at 500 E. Border St. in Arlington. The 12-story, Class A tower is 95 percent leased to tenants including JPMorgan Chase, JPMorgan Chase Bank, Texas Health Resources and Trend Micro. CBRE represented the seller, Brookfield Real Estate Opportunity Group, in the transaction.
FLOWER MOUND — Tom Thumb Food & Pharmacy plans to open a 59,000-square-foot Tom Thumb store in the 140,000-square-foot Cross Timbers Village, a mixed-use shopping center located at the southwest corner of Bruton Orand Boulevard and FM 1171 in Flower Mound. The new location will be Tom Thumb's fourth location in Flower Mound. The property will feature a drive thru pharmacy, fuel station and a Starbucks. Cross Timbers Village is owned by Direct Development.