LAKE WORTH — Star Village Commons, a 40,549-square-foot retail property located at 3980 Boat Club Rd. in Lake Worth, has sold. Jason Vitorino of Marcus & Millichap's Dallas office represented the seller, Doug Archer, in his capacity as a receiver with POB Montgomery & Co. The property is 54 percent occupied with tenants such as Whataburger, State Farm Insurance, Sesame Grill and Great Clips.
MESQUITE — A former Hollywood Video store, located at 1600 Beltline Rd. in Mesquite, has sold to Springfield, Mo.-based O'Reilly Automotive, which is expanding by 150 stores nationwide this year. The 7,280-square-foot retail property sits on the corner of Beltline and Cartwright roads on a 49,702 square foot parcel of land. Jeff Brand of Brand Capital Partners represented the property's seller, Barton Investments, in the transaction. Hollywood Video's parent company, Movie Gallery, filed for Chapter 11 bankruptcy protection in February.
COPPELL — Samsung Electronics will lease an additional 130,000 square feet at Point West VII, supplementing the 261,025 square feet it leased in the building in late 2009. Build-out of the space is underway. Located at 240 Dividend Dr. in Coppell, Point West VII is Samsung Mobile's largest cell phone distribution facility in the U.S. Dave Anderson and Pat O'Keefe of CB Richard Ellis represented Samsung, while Duke Realty's Randy Wood represented Duke, the landlord.
DALLAS — One McKinney Plaza, a 15-story, 256,543-square-foot office building at 3232 McKinney Ave. in uptown Dallas, has earned its LEED for Existing Buildings (LEED-EB) certification from the U.S. Green Building Council. The owner, Gaedeke Group, has spent 1 year and $5 million in renovating the office building. The renovations included the replacement of 42 toilets with a high-efficiency design, decreasing the gallons per flush by 40 percent. The LEED-EB Operations & Maintenance rating system focuses on a building's physical systems and how it's occupied and operated by its managers.
HOUSTON — Institutional Property Advisors' (IPA) Balthrope Group has brokered the sale of AMLI City Vista, a 385,358-square-foot, mid-rise, luxury apartment complex located one mile west of downtown Houston. Koontz McCombs sold the multifamily property to AMLI Residential for an undisclosed price. Will Balthrope and Ryan Epstein of IPA's Balthrope Group were involved in the transaction.
DALLAS — The Neiman Marcus Group has expanded and extended its distribution lease in Pinnacle Park from 292,000 to 470,250 square feet of industrial space at 4121 Pinnacle Point Dr. in Dallas. The space will be utilized for Neiman Marcus' Last Call division. Corbin Crews of CB Richard Ellis represented the landlord, TR Pinnacle Corp., in the 10-year lease.
KELLER — Stephen Whitehead of NorthMarq Capital's Dallas office has arranged permanent financing of $10.95 million for Grand Estates at Keller, a 160-unit multifamily property located at 500 N. Tarrant Pkwy in Keller. Constructed in 2006, the property was 96 percent occupied at the time of financing, which was based on a 10-year term with a 30-year amortization schedule. Financing was arranged for the borrower through NorthMarq's affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
EL PASO — CB Richard Ellis (CBRE) has opened an El Paso branch, headed by Christian Perez Giese. The office will be staffed by seven commercial real estate professionals including Rex Maingot, Anthony Mash, Chad McCleskey, Rebecca Rojas, Ivan Holguin Fernandez and Luz Moreno, formerly of Team NAFTA in El Paso. CBRE has also opened an office in Cd. Juarez, Mexico. Both offices will focus on serving local and multinational companies doing business in the border region with the acquisition, disposition and leasing of industrial property.
HOUSTON — Duke Realty Corp.'s Houston office has begun construction on Westland II, a 300,000-square-foot bulk industrial building in Westland Business Park in Houston. RAM Chemical & Supply, a pool and spa chemicals and supplies provider, will occupy 139,600 square feet. Westland II will have a clear height of 28 feet and feature 80 dock doors. Construction is expected to be completed in April 2011. Jim Thompson of Grubb & Ellis represented RAM Chemical & Supply in its lease transaction, while Cory Driskill of Duke Realty represented Duke.
HOUSTON — The Dallas and Houston offices of Holliday Fenoglio Fowler (HFF) have arranged a $19.4 million refinancing for Wynhaven at Willowbrook, a 372-unit, Class A multifamily community located at 9611 Grant St. in northwest Houston. Working on behalf of Trammell Crow Residential, HFF secured the 10-year, fixed-rate loan through Freddie Mac and will service the securitized loan through its Freddie Mac Program Plus Seller/Servicer program. Wynhaven at Willowbrook was completed in 2008 and features one- and two-bedroom units averaging 1,175 square feet each. Amenities include a resort-style lap/beach pool, resident café, club room, barbecue and picnic area, and gated access.