OKLAHOMA — Stan Johnson Co. has brokered the $7.5 million sale of five dental clinics, all fully leased to My Dentist, in Oklahoma. The properties are all under new 15-year triple net leases with annual rent increases. Jeff Matulis, Toby Scrivner and Karen Vinsko of Stan Johnson Co.'s Tulsa, Okla., office represented the buyer, a New York-based REIT, and the seller, a Oklahoma City-based developer, in the transaction.
Texas
MOORE, OKLA. — The Boulder Group has arranged the $3.48 million sale of a 15,120-square-foot Walgreens, located at 1229 N. Eastern Ave. in Moore. Randy Blankstein and Jimmy Goodman of The Boulder Group's Northbrook, Ill., headquarters represented the seller, an Oklahoma-based developer, in the transaction. The buyer was a Midwest-based investor. Walgreens has 10 years left on the 20-year lease term.
SPRING — Marcus & Millichap has brokered the sale of the 26,876-square-foot Cypresswood Shopping Center, located at 17500 Kuykendahl Rd. in Spring, for $1.85 million. James Bell of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction. Justin Miller of Marcus & Millichap's Houston office represented the buyer, a Houston-based investment group.
THE WOODLANDS — Moody Rambin Investment Services has secured the sale of two office buildings totaling 22,278 square feet, located at 25301 and 25325 Borough Park Dr. in The Woodlands. The buildings were 92 percent leased at the time of the sale. Christopher Dray of Moody Rambin's Houston office represented the seller, Borough Partners LP, in the transaction. Jody Czajkoski of Moody Rambin's Houston office represented the buyer, I-45 Property Management Inc.
AUSTIN — Atlanta-based Apartment Realty Advisors has arranged the sale of the 367-unit, 1,026-bed Jefferson 26, a Class A student housing property located at the University of Texas – Austin's West Campus. The property was 97 percent occupied at the time of the sale and features a clubhouse, pool, spa, fitness center, tanning beds, a rooftop garden and a game room. Patton Jones, Chris Bancroft and Chris Epp of ARA's Austin office represented the seller, Jefferson at West Campus LP, in the transaction. Austin-based American Campus Communities was the buyer.
LEWISVILLE — Marcus & Millichap has brokered the sale of the 19,896-square-foot Baylor Surgicare at Lewisville, a medical office building located at 1854 Lakepointe Dr. in Lewisville. Chris Gomes and Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a partnership, in the transaction. Vakhariya also represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
DALLAS — NorthMarq Capital has arranged $36.5 million in first mortgage financing for a Class A apartment complex, which has more than 500 units, in Dallas. Michael Elmore of NorthMarq's Los Angeles office and Paul Brighton of the firm's Dallas office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac's Capped ARM program.
THE WOODLANDS — Michel Kors will open a 2,659-square-foot store at Market Street — The Woodlands, an approximately 500,000-square-foot open air shopping and entertainment center that features merchants Tiffany & Co., Brooks Brothers, Allen Edmonds, Ann Taylor and L'Occitane, as well as the 70-room AVIA hotel and 17 restaurants. Market Street is located at 9595 Six Pines Dr. in The Woodlands and is owned by a joint venture between Trademark Property Co. and Institutional Mall Investors.
DALLAS AND FORT WORTH — Rick's Cabaret International through RCI Holdings, its subsidiary, has purchased two tracts of land currently housing adult nightclubs, located at 12325 Calloway Cemetery Rd. in Fort Worth and 2151 Manana Dr. in Dallas, for $5.5 million. Rick's Cabaret paid $2 million in cash and the other $3.5 million is being financed by the seller.
GRAPEVINE — Regions Bank has sold a 26,240-square-foot, two-building office property, located at 1900 Enchanted Way in Grapevine, to Capital Commercial. Kevin Santaularia, Todd Lambeth and Joe Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the seller in the transaction.