HOUSTON — Finial Group has brokered the following deals in Houston: Carrera Tile has purchased a 19,000-square-foot office/warehouse property at 4501 Campbell Rd. Neil Martin and Keith Bilski represented the seller in the transaction. No brokers represented Carrera Tile. An investment group has purchased 3.4 acres of the Lakes of Bridgewater commercial reserve at the corner of Clay Road and Lakes of Bridgewater Road. Martin and Taylor Schmidt represented the seller. No brokers represented the buyer. CK Kelley & Sons has leased 33,000 square feet of industrial property at 10651 Harwin Dr. Clay Reichenbach of InSite Realty Partners represented the landlord, while Bilski and Martin represented CK Kelley & Sons.
ARLINGTON — ITT Educational Services Inc. has signed a 30,000-square-foot lease renewal and expansion at 551 Ryan Plaza Dr. in Arlington. ITT currently occupies 100 percent of the 23,500-square-foot building, and the agreement gives ITT an additional 6,500 square feet. The expansion project is expected to be complete by the end of the year. Chris Wright of Grubb & Ellis represented the landlord, Bridge Parkway Associates, while Bob Ikel of IC3 Real Estate represented ITT.
LAREDO — Logistics companies Exel and DHL Supply Chain have announced plans to construct a 250,000-square-foot build-to-suit distribution center in Laredo. The project is expected to bring 100 new jobs. The center is being constructed to support cross-border business between the U.S. and Mexico. The facility will break ground this fall and is slated for a July 2012 completion. The companies are pursuing LEED certification for the property, which will be the first LEED certified distribution center in Laredo as well as Exel's first LEED distribution center in North America.
CARROLLTON — Singh Theaters LLC has purchased a 56,057-square-foot building at Crestview Corners at 2661 Midway Rd. in Carrollton. The property is a former Albertsons, and Singh plans to open a Parthenon Theaters location there in early 2012. Venture Commercial Real Estate's John Zikos and Christopher Gibbons represented the seller, Albertsons LLC, while Kerri Rushing of Grand Realty Services represented Singh.
HOUSTON AND IRVING — LMI Capital has arranged a combined $9.7 million for two multifamily properties. LMI's Chris Pollard arranged $5.3 million for the refinancing of Villa Adora, a 266-unit multifamily community in Houston. The financing was arranged on a 10-year term and a 30-year amortization schedule. The loan will go to Villa Adora paying off previous debt and recovering equity. Pollard also arranged $4.4 million for the acquisition of Kirkwood Park, a 160-unit multifamily community in Irving. The loan is based on a 10-year term and a 30-year amortization schedule with one of LMI's Fannie Mae lending sources.
DALLAS — Grubb & Ellis has brokered the following office leases in Dallas: The MGHerring Group Inc. has leased 7,752 square feet in Tristone at 5710 LBJ Freeway. Grubb & Ellis' Noreen Mehdi and Chris Wright represented the landlord, Investors Warranty of America Inc., while John Shaunfield and Kyle Jett of Newmark Knight Frank represented The MGHerring Group. Elite Construction and Fabrication LLC has leased 5,452 square feet in Valliance Plaza at 5900 S. Lake Forest Dr. Grubb & Ellis' Heather Densmore Shover, Sean Dalton and Wright represented the landlord, Lake Forest-McKinney Investors Ltd., while Kent Smith of NAI Robert Lynn represented Elite. Barrett Bright Lassiter Linder LLP has leased 4,841 square feet at 3500 Maple Ave. Grubb & Ellis' Sean Dalton, Russ Johnson and Chris Wright represented the landlord, TIC Properties Management LLC, while Matt Craft and Stephen Holly of Jones Lang LaSalle represented Barrett Bright Lassiter Linder.
COLLEYVILLE, MULESHOE AND WEATHERFORD — Tommy Tucker and Kevin Catalani of United Commercial Realty (UCR) Investment Sales have represented the sellers in the following sales of three retail properties: Centennial Real Estate has purchased Village Park at Colleyville, a 45,057-square foot shopping center at the Colleyville Boulevard and Glade Road intersection in Colleyville. Tenants in the property include Import One, Prudential Texas Properties and Autographs Inc. A private REIT has purchased United Supermarkets, a 25,825-square-foot freestanding grocery store on American Boulevard in Muleshoe, from J.E. Robert Co. The property features a fueling station. A Texas-based investor has purchased Weatherford Commons, a 34,448-square-foot retail center in Weatherford, from LNR Partners. Weatherford Commons tenants include Starbucks, Payless ShoeSource, Hallmark, GameStop, Palm Beach Tan, Great Clips, Cotton Patch Cafe, WingStop and Cash Store.
SUGAR LAND — Planned Community Developers, Ltd. has developed and opened Town Square Office Suites, an approximately 15,000-square-foot Class A office space development in Sugar Land Town Square, a mixed-use development at the U.S. Highway 59 and State Highway 6 intersection in Sugar Land. The full-service office space features temporary offices, 24/7 virtual support, furnished meeting space, a business lounge, concierge services, reception services and a sky bridge. Lee Mitchell with Ambrose, McEnany and House Architects designed the property, while Trademark Construction was the general contractor.
VICTORIA — Houston-based Baker Katz has executed a 18,710-square-foot lease with Gold's Gym Express for its first Victoria location in the Northcross Shopping Center at 5201 N. Navarro St. Other tenants in the Northcross development include Ashley's Furniture, Jason's Deli, Dollar Tree and GameStop. The fitness center is the second corporate owned Gold's Gym in the state — the other one is in Brownsville. Baker Katz's Jamie Weaver represented Gold's Gym, while Warren Houser of Centcom Realty Corp. represented the landlord in the transaction.
OKLAHOMA CITY, OKLA. — Emerald Square Assisted Living Community, a 73-unit senior housing development at 701 N. Council Rd. in Oklahoma City has been acquired for $3 million. The assisted living facility sits on 14.5 acres and was 70 percent leased at the time of the sale. Jacob Gehl and Ben Firestone of Marcus & Millichap Real Estate Investment Services brokered the sale on behalf of the seller, a special purpose entity set up by lenders, and represented the buyer, a Dallas-based private equity fund that specializes in repositioning distressed assets.