BRADY — Marcus & Millichap has arranged the sale of a 10,000-square-foot O'Reilly Auto Parts Retail Center, a two-tenant property located at 2039 S. Bridge St. in Brady. Greg Gaynor and Kelly Smith of Marcus & Millichap's Austin office represented the seller, a developer, and procured the buyer, a private investor, in the transaction.
ARLINGTON — Irvine, Calif.-based TNP Strategic Retail Trust has acquired the 62,676-square-foot Ensenada Square, a grocery-anchored shopping center in Arlington. The property is 93 percent leased to tenants including Kroger, Family Dollar and Fort Worth Community Credit Union. Ensenada Square is TNP's 14th acquisition. Brandon Beeson of Edge Realty's Dallas/Fort Worth office represented both parties in the transaction.
BEDFORD — Marcus & Millichap has arranged the sale of the 84-unit Bedford Hills, a multifamily property located at 942 Simpson Terrace in Bedford. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, a private investor, and the buyer, a local partnership, in the transaction. Bedford Hills is 95 percent occupied.
SAN ANTONIO — Dallas/Fort Worth-based Venture Commercial Real Estate has brokered the sale of a 42,887-square-foot industrial property, located at 501-505 S. Comal St. in San Antonio's Westside community. David Schnitzer of Venture Commercial represented the seller, 1114 West Commerce Associates, in the transaction. Patrick Shearer and Brad Hardy of San Antonio-based Peloton Commercial represented the buyer, the San Antonio City Public Service Board.
DALLAS — Emirates has signed a new lease agreement for 3,000 square feet of office space in the 105,550-square-foot Rolex Building, located at 2651 N. Harwood St. in Dallas' Uptown/Turtle Creek submarket. The Rolex Building is owned by Harwood International and includes tenants such as Rolex Watch, Swiss Consulate, Prudential Insurance, Forest Perkins, MML Management, Energy Capital and Harwood International Holdings.
CINCO RANCH — Regency Centers has commenced construction on the 260,000-square-foot Southpark at Cinco Ranch, a neighborhood retail center located at the intersection of Westpark Tollway and Spring Green Boulevard in Cinco Ranch. Regency partnered with Excel Commercial Real Estate to begin construction on Phase I, which includes a 101,497-square-foot Kroger, a 71,680-square-foot sporting goods retailer, 29,920 square feet of small shop space and seven outparcels. The project is 72 percent preleased and anchors are slated to open in the fourth quarter of 2012. Phase II will add 57,000 square feet.
WESLACO — Colliers International has brokered the sale of the 178,618-square-foot Valley Crossing Shopping Center, located in Weslaco. The retail center is fully leased to tenants including J.C. Penney, T.J. Maxx, Petco and Olive Garden. Ryan West of HFF's Houston office represented the buyer, Capcor Weslaco Ltd., in the transaction. Christopher Winters of Colliers' Houston office represented the seller, SDI Weslaco Holdings.
PEARLAND — HFF has closed the sale of the 472-unit St. Andrews Apartments, a Class A multifamily community located on a 20-acre site at 9900 Broadway St. in Pearland. The property is 99.6 percent occupied. Craig LaFollette, Todd Stewart, Todd Marix, Tre Banks and Chris Curry of HFF's Houston office represented the seller, a TIC ownership group managed by Joseph Mandelbaum and Henry Mandelbaum of RealTax Inc., in the transaction. Cortney Cole of HFF's Houston office arranged the financing through PPM Finance on behalf of the buyer, Venterra Realty. Holly Wathan represented PPM Finance in-house during the negotiations.
DALLAS — Mathis Donheiser & Jeter, a Dallas-based law firm, has leased the entire 26th floor — approximately 7,236 square feet — of the Adolphus Tower, located at 1412 Main St. in Dallas. The new office features hardwood finishes, custom cabinetry, a conference room and a kitchenette. The law firm will move into its new office once construction is complete, tentatively set for early this month. Carla Machulis of Henry S. Miller's Dallas office represented the landlord in the lease transaction. Craig Wilson and Dan Harris of Cassidy Turley's Dallas office represented the tenant.
HOUSTON — Cadence McShane Construction Co. has delivered the $13.7 million, 98,724-square-foot Patterson Elementary School, located at 5302 Allendale Road in Houston. The two-story school features 50 classrooms, a library, a kitchen, a cafeteria and a basketball pavilion. The new school is certified LEED Silver and features environmentally friendly building materials, energy-efficient heating, air conditioning, refrigeration, lighting control and domestic hot water systems, as well as a construction waste recycling program. Sustaita Architects designed the school, which is part of the Houston Independent School District.
