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.
SCHERTZ — NorthMarq Capital has arranged $5.15 million in first mortgage financing for the FM 3009 Shopping Center, a 40,483-square-foot retail center in Schertz. NorthMarq's William Luedemann and Lori Sowa arranged the financing on a 20-year term with a 20-year amortization schedule for the borrower, FM 3009 Horizon, LP, through NorthMarq's correspondent relationship with StanCorp Mortgage Investors LLC. The center is currently 91 percent occupied by tenants like Dollar Tree and MedCom. The financing is extended to the center's two ground-leased pad sites as well.
HOUSTON — Sage Plaza, a 25-story Class A building at 5151 San Felipe St. in Houston, has added several new tenants. CB Richard Ellis' Bonnie Kelley represented the landlord, a fund managed by New York City-based BlackRock in the recent leasing activity. The recent tenants to lease space in the 520,453-square-foot property include: PSC, LLC has leased 71,913 square feet, and Jim Bailey of Cushman & Wakefield represented them in the transaction. Epcot Electric has leased 10,008 square feet. DeGolyer & McNaughton Corp. has renewed its lease for 6,911 square feet, and John Beach with Jackson Cooksey represented them in the renewal negotiations. Newmark Knight Frank has renewed its lease for 6,677 square feet, and Brandi McDonald represented them in house. Ramex, Inc. has leased 2,233 square feet. Aerojet Holding, Inc. has renewed its lease for 2,109 square feet, and Justin Leighton of Studley represented them in the transaction. Black & Veatch Corp. leased 2,037 square feet, and Steve Beigel with Studley represented them in the transaction.
HIGHLAND VILLAGE — Regency Centers has leased retail space in its The Shops at Highland Village, a 352,000-square-foot mixed-use center in Highland Village, to two retailers. Delta Dental Insurance Co. has leased 10,678 square feet, while Addison June Baby Boutique has leased 2,419 square feet. Steven Wentz of Cushman & Wakefield represented Delta Dental in the transaction, and there was no broker in the Addison June transaction. Ryan Griffin, leasing agent with Regency, represented Regency in house. Other tenants in The Shops include Ann Taylor, Banana Republic, Bath & Body Works, Potbelly Sandwich Works, Barnes & Noble Booksellers and AMC 12 Theatre.