AUSTIN — Whit Hanks Properties' 500 Lamar, a multi-tenant Class A retail property that sits on one acre of land directly across Lamar Boulevard from Whole Foods Market headquarters at the intersection of North Lamar Boulevard and West Fifth Street in Austin, has sold to a Houston-based institutional investor. CB Richard Ellis' Walter Saad and Cathy Nabours represented the seller. The property is 100 percent leased.
Texas
ABILENE — The Ensign Group has acquired Wisteria Place, a continuing care retirement community, and its sister facility, Wisteria Independent Living, both in Abilene. The facilities will be operated by a subsidiary of Keystone Care, Ensign's Texas-based portfolio subsidiary. Wisteria Place is a full-service care campus located at 3202 S. Willis St. in Abilene that operates 123 skilled nursing beds, 77 assisted living units and 20 independent living cottages. Wisteria Independent Living is located at 3917 Wisteria Way in Abilene and operates 72 independent living units.
HOUSTON — Florida Chemical, a citrus industry company, has purchased a 39,086-square-foot warehouse and distribution building located at 19914 GH Cir. in northwest Houston. Bill Rudolf and Gray Gilbert of CB Richard Ellis represented Florida Chemical, while John Nicholson and Doug Nicholson of Grubb & Ellis represented the seller, PPG Architectural Finishes.
WYLIE – Kansas City Southern (KCS) Railway Co. has purchased 28.3 acres of land in the northeast quadrant of Spring Creek Parkway and Centennial Drive in Wylie. It is the last remaining tract of land zoned for heavy industrial around KCS Railway’s existing rail yard, in which it will be incorporated. Pooran, L.P., sold the property and was represented by Tom Grunnah of Henry S. Miller Brokerage. Andrew Ward and Terry Darrow of Jones Lang LaSalle represented KCS Railway.
PLANO – Atlanta-based Centennial Holding Co. has received a $28 million acquisition loan for Century Legacy Village, a 328-unit Class A multifamily property offering one-, two- and three-bedroom units in Plano. Amenities include a clubhouse, a business center, a fitness center, a resort-style pool and controlled access gates. Walker & Dunlop provided the loan, which is structured with a 10-year term with 2 years interest only and a 30-year amortization, by utilizing Fannie Mae’s DUS product. Century Legacy Village is 98 percent occupied.
RICHARDSON – Arapaho Gardens, a 38,218-square-foot office property located at 1121-1149 Rockingham Ln. in Richardson has changed hands. An Iowa-based private investor sold the property to a Dallas-based owner/user and limited liability company. The institutionally owned property is approximately 69 percent occupied. It consists of four one- and two-story buildings on the corner of Arapaho Road and Rockingham Lane, approximately three-fourths of a mile west of North Central Expressway. Ron Hebert of Marcus & Millichap’s Dallas office represented the seller.
THE WOODLANDS — Greystar Real Estate Partners has purchased a 12.4-acre site in the Village of Grogan's Mill in The Woodlands for construction of a three-story, 300-unit upscale garden apartment community. Construction is set to begin in spring 2011 with the opening scheduled for early 2012. The project's architect is Meeks + Partners Architects and Greystar Development & Construction, L.P., is serving as its general contractor.
GRAND PRAIRIE — Brett Heinen and John Bielamowicz of Henry S. Miller's Dallas-Fort Worth office's office and industrial division have arranged the sale of a 10,232-square-foot industrial facility at 1163 Ruggles St. in Grand Prairie. US Bank Association, a trustee for Lehman Brothers, obtained Henry S. Miller to assist with the sale of the property after a previous owner was foreclosed upon. Grand Prairie-based United Mirror and Glass purchased the property as the office and warehouse facility offers United Mirror remodeled office spaces, a tech area, a new roof and secured outside storage.
PLANO — New York-based AREA Property Partners, formerly known as Apollo Real Estate Advisors, has acquired the 730-unit Giovanna Apartment Homes, located at 1800 E. Spring Pkwy. in Plano, for $54.5 million. The multifamily property includes one-, two- and three-bedroom apartments featuring gourmet kitchens. Amenities include four swimming pools, a 24-hour fitness center, a dry sauna, a steam room, volleyball courts and an entertainment center. KC Spring Creek Apartments LP and KCD GP LLC formerly owned the Giovanna Apartment Homes.
HOUSTON — Behringer Harvard has achieved LEED Gold certification for three of its Houston office properties — One City Centre, One and Two Eldridge Place, and One Briar Lake Plaza. One City Centre is a 31-story office tower that was constructed in 1961 and renovated in 1999, and is comprised of approximately 600,000 square feet of space. One and Two Eldridge Place are comprised of more than 500,000 square feet of space between them and were built in the mid 1980s. And One Briar Lake Plaza is a 20-story office property built in 2000 that is comprised of more than 500,000 square feet of space. Sustainable practices executed to these three Houston office towers included significant reductions in water usage, comprehensive recycling, renewable energy purchases and filtration for improved air quality.