DALLAS — The 2000 block of Ross Avenue, 2.21 acres bound by Ross Avenue to the north, San Jacinto Street to the south, North Olive Street to the east and North Harwood Street to the west in downtown Dallas, has been sold to TerraPark Group. A small portion on the northeast corner of the city block, the current location of Northern Trust Bank, was not included in the sale. The property, site of an existing Central Parking lot, sits adjacent to major office buildings including Trammell Crow Center and 2100 Ross, and is one of the largest remaining land sites in Dallas' central business district. John Bradley of Bradley & Bradley REALTORS represented TerraPark Group, while Mike Gosslee of Cushman & Wakefield of Texas represented the seller, a large insurance company.
Texas
TULSA, OKLA. — The LaSalle Group of Dallas will break ground this week on its first specialized Alzheimer's and Memory Care Assisted Living Community in Oklahoma, Autumn Leaves of Tulsa. Located at 7807 S. Mingo in Tulsa, the project marks the 16th venture of its kind for The LaSalle Group in the past 10 years. Nine Autumn Leaves communities are operating in the Dallas-Fort Worth market, three in the greater Chicago area and one in Houston. Autumn Leaves of Tulsa is scheduled to be completed by fall 2011. The property will feature 38 units and accommodate approximately 46 residents.
MESQUITE — Tipp Distributors, dba Novamex, a food distributor specializing in Mexican and Central American products, has signed a 144,000-square-foot lease at 4401 Samuell Blvd. in the Mesquite Business Center in Mesquite. Trace Elrod and Tommy Newton of JacksonCooksey represented Novamex in the 11-year lease, while Jeff Jackson and Bob Hagewood of Stream Realty's Dallas office represented the owner, Exeter Property Group.
COPPELL — Duke Realty Corp.'s Dallas office has entered into a long-term lease agreement with SP Richards Co. for 212,776 square feet in its Freeport VII building, a 383,925-square-foot warehouse and distribution building in Coppell. SP Richards is an office supplies and furniture distributor that will consolidate 130,324 square feet it currently has in two distribution facilities in Carrollton into Freeport VII, and will lease an additional 82,450 square feet in the building to meet its expanding space needs. Freeport VII, located at 631 S. Royal Ln., is 55.4 percent occupied. Randy Wood represented Duke Realty in house.
ADDISON — Mesa West Capital has provided a $17.5 million loan for Brookfield Real Estate Opportunity Fund's purchase and leasing of Two Addison Circle, a vacant 198,484-square-foot Class A office building in the North Dallas suburb of Addison. The six-story, LEED-certified building was built in 2009. Financing was provided through Mesa West Capital's $614.5 million Mesa West Real Estate Income Fund II, which closed this past June. Holliday Fenoglio Fowler's Dallas office arranged the financing.
KINGWOOD — The Kingwood Diagnostic & Rehabilitation Center, a two-story, 40,733-square-foot medical office building located near Kingwood Medical Center has opened. Located at 22751 N. Professional Dr. in Kingwood, the $9 million project was developed through a joint venture between Rowland Cos. and Ensemble Real Estate Services on behalf of the owner, BRB/E Building One LLC. The building is more than 90 percent leased to 11 individual practices, nine of which are part of Diagnostic Affiliates of Northeast Houston.
OKLAHOMA CITY, OKLA. — Omaha, Neb.-based Haley Communities has purchased Stoneleigh on May Apartments, a 244-unit Class A complex, for $19.7 million. Located at 14300 N. May Ave., the property is situated in the Quail Springs area of Oklahoma City and features a fitness center, a clubhouse, a swimming pool and meeting areas. Andy Burnett and David Burnett of Sperry Van Ness/William T. Strange & Associates facilitated the sale. The transaction marks Oklahoma's largest multifamily transaction this year.
BROOKSHIRE — Room To Go has opened a 1 million-square-foot distribution and showcase facility along Interstate 10 in Brookshire, northwest of Houston. The 22.6-acre building was completed by Bob Moore Construction — its third project for Rooms To Go. Bob Moore Construction has also completed an 851,000-square-foot distribution center in Arlington for Rooms To Go as well as a 34,888-square-foot showroom in Fort Worth. MacGregor Associates Architects was the architect of record for the Brookshire project.
FLOWER MOUND — River Walk Medical Park I, a three-story, 84,000-square-foot medical office building, will break ground this month in The River Walk at Central Park development in Flower Mound. Expected to open in fall 2011, it will connect to the existing Texas Health Presbyterian Hospital on all three levels. River Walk Medical Park I will include a radiation and medical oncology center as well as the following specialties: urology, cardiology, general surgery, colorectal, orthopedics and OB/GYN.
HOUSTON, TEXAS — Alliance Residential Co. has acquired Gramercy Park Condominiums, a multifamily property located in the Texas Medical Center area of Houston. Alliance acquired the 224-unit project out of bankruptcy in a Section 363 auction sale. The community offers one-, two- and three-bedroom floorplans ranging in size from 781 to 1,529 square feet. The two-building, project, which was completed in 2006, will be renamed Broadstone Gramercy. Alliance also plans to complete construction on the unfinished northern building.