MCALLEN — Palio Partners has commenced construction on an 8,500-square-foot retail property, located on a 1.33-acre lot called Renaissance Point at 1304 E. Expy. 83 in McAllen. Dallas-based Genghis Grill will occupy 4,500 square feet of the retail property and the remaining space is available for leasing. Greg Blandford of Dallas-based Position Property Group represented Genghis Grill in the lease transaction. This will be Genghis Grill's 95th location and it is slated to open in August 2012.
HOUSTON — Colliers International has brokered the sale of a portfolio of nine restaurants net leased to Burger King in the Houston area. Marshall Clinkscales and Bill Byrd of Colliers International's Houston office represented the seller, Gramdale, in the transaction. The buyer was Global New Millennium Partners.
HOUSTON — ARA has arranged the sale of a 726-acre land tract, located along Interstate 10 in west Houston, on behalf of Houston-based BBVA Compass Bank. Tim Dosch and David Marshall of ARA's Houston office represented the seller, a locally-based global financial institution, in the transaction. The buyer was a foreign national.
VALLEY VIEW — Farmington Hills, Mich.-based Sperry Van Ness/Fortis Net Lease has brokered the sale of the 9,100-square-foot Dollar General, located in Valley View. Robert Bender, Doug Passon and Bryan Bender of SVN/Fortis represented the buyer and procured the seller in the transaction. This is the 15th Dollar General sale that SVN/Fortis has negotiated this year.
TOMBALL — Four D Resources has sold a 33,894-square-foot warehouse, located at 23540 Coons Rd. in Tomball, to Kiss Real Properties. Ron Roberson and Bill Ginder of Caldwell Cos.' Houston office represented the seller in the transaction. Greg Degeurin of Houston-based Degeurin Realty represented the buyer.
HOUSTON — HFF has arranged the sale of two multi-tenant office buildings, located in Houston's Greenspoint submarket, totaling 395,424 square feet. The buildings include the 213,777-square-foot 333 North Sam Houston Parkway East, which is 72 percent leased, and the 181,647-square-foot 10700 Interstate 45 North, which is 47 percent leased. Dan Miller and Martin Hogan of HFF's Houston office represented the undisclosed seller in the transaction. Irvine, Calif.-based The Khoshbin Company purchased the properties.
DEER PARK — Walker, La.-based Excel Modular Scaffolding has plans to build a 16,000-square-foot office/warehouse facility in the northwest quadrant of Highway 225 and Independence Parkway in Deer Park. Doug Bates and Joel Hill of Henry S. Miller's Houston office negotiated a design-build requirement with Excel. The new facility is slated for an October 2012 completion. Excel recently completed a design-build agreement with Houston-based Levey Development and Construction. The property will serve as Excel's Houston operations facility.
FORT WORTH — Marcus & Millichap has brokered the sale of Crestwood Apartments, located on the corner of White Settlement and Bailey Avenue in west Fort Worth. Boyan Radic and Mason Green of Marcus & Millichap's Fort Worth office represented the seller, a California-based family trust, in the off-market transaction. The buyer was a local limited liability company and financing was arranged through a local bank at 75 percent LTV. The buyer plans to replace the roof and update many of the unit interiors. The apartment complex is currently 100 percent occupied.
BAYTOWN — A 8,200-square-foot industrial building, located at 2209 Market St. in Baytown, has been sold. David Hummel of Coldwell Banker Commercial United, Realtors' Houston office negotiated the sale between the seller, All Tech Inspection, and the buyer, Texas Colt Services.
WOODWAY — A 14,280-square-foot retail property leased to Walgreens through 2030, located on a 1.8-acre parcel in Woodway, has been purchased for $4.75 million. New Hope, Pa.-based National Net Lease Realty represented the seller, a private investor from California, in the transaction. The buyer was also a private investor from California.
