EDINBURG — Marcus & Millichap Real Estate Investment Services has brokered the sale of University Corners, a 10,700-square-foot retail property located at 1708 West University Drive in Edinburg. Philip Levy of Marcus & Millichap’s Fort Worth office represented the buyer, a private investor, and the seller, a developer. The property is shadow-anchored by Walmart and is located across the street from University of Texas-Pan-American.
HOUSTON — Houston-based Jump Houston has leased 54,000-square-feet of space at the League America recreation complex. The facility is located at 10510 Westview Drive in Houston. Neil P. Martin of Finial Group represented League America and Marshall Clinkscales and Blake Gibson of Colliers International represented Jump Houston. League America is a recreation facility comprised of eight basketball and volleyball courts, baseball fields, weight rooms, dance rooms, sports shop and a restaurant.
HOUSTON — Jacksonville, Fla.-based Regency Centers has leased a combined 8,600 square feet of retail space to four new tenants in the Houston market. Zoes Kitchen has leased 3,018 square feet at Sterling Ridge Village Center, which bring the center to full occupancy. Zoes is slated to open in December. Woodland’s Eye Center has leased 2,019 square feet at Indian Springs Center, which brings the center to full occupancy. Woodland’s Eye Center is expected to open in October. Orange Leaf Frozen Yogurt has leased 1,875 square feet at Sweetwater Plaza, bringing the center to 96 percent occupancy. Orange Leaf is scheduled to open in October. Orange Lunch Box has leased 1,700 square feet at Woodway Collection, which is undergoing redevelopment. Orange Lunch Box is slated to open in December.
FRISCO — Centro Properties Group U.S. has opened Mojitos Restaurant and Willetts Sew and Vac Essential at The Market at Preston Ridge in Frisco. Mojitos has opened in 2,467 square feet, while Willetts Sew and Vac Essential leased 2,400 square feet. Centro Properties, which owns The Market at Preston Ridge, was represented in-house by Mike Watson.
RICHARDSON — Tampa, Fla.-based Carter Validus Mission Critical REIT, Inc. has acquired a 20,000-square-foot data center for $28.9 million in Richardson. The property is 100 percent leased by a national health organization. The data center supports technology infrastructure equipment deployment on more than 10,000 square feet of 36-inch raised floor space. There are diverse feeds from two power substations what provide redundant power supporting 1.68 megawatt of critical load power, expandable to 2.25 megawatts.
SAN ANTONIO — Jackson, Miss.-based EastGroup Properties has begun the development of two new industrial buildings in San Antonio. Thousand Oaks I and II will be 109,000 square feet with a combined projected cost of $9.62 million. Thousand Oaks is scheduled to be complete in the first quarter of 2012. The company owns 1.2 million square feet in the north central submarket that is currently 97 percent leased.
DALLAS — Dallas-based Stream Realty has been awarded the exclusive management and leasing provider for DFW Distribution, a 498,800-square-foot distribution center, by Clarion Partners. The distribution center is in the Dallas Fort Worth International Airport submarket located at 171 West Airfield Drive. Cannon Green and Blake Kendrick of Stream Realty will lead the leasing efforts.
Industrial real estate activity is up in the El Paso/Juarez, Mexico metro area, indicating that the recession-driven slump, which had been intensified by reported violence on the border, has not deterred companies from making long-term commitments to the region. The increase in industrial leasing and sales, as well as improved employment statistics and increasing commercial truck crossing data are all positive signs for the future of the local industrial economy. The industrial market in El Paso and Juarez totals 115 million square feet split between two countries and is an intersection of international manufacturing firms, global supply chains and the local economy. During the past 3 years both the global recession and security situation in Mexico have reverberated across the industrial market. However, industrial leasing and sale activity is up on both sides of the border, with Juarez leading the way at 658,000 square feet of net absorption during the first 6 months of the year, and El Paso recording 264,000 square feet. However, El Paso was the first city to start the rebound in 2010 with almost 600,000 square feet of net industrial absorption in the second half of the year. Both markets have seen industrial vacancy levels recede …
TEXAS — Stamentis Family Trust has purchased a 71,800-square-foot office building at 1801 South Beach St. in Fort Worth. Todd Hubbard of NAI Robert Lynn and John Aldrich represented the seller, Secretariat. Maverick Stainless has leased 43,296 square feet of office/warehouse space located at 4525 Production in Dallas. NAI’s Robert Blankenship represented the landlord, Production Property Partners, in this transaction, and Jason Moser of Stream Realty represented the tenant. Altronic has leased 23,944 square feet of office/warehouse space at 2350 Crist Rd. on the Firewheel Commerce Center in Garland. NAI’s Stephen Cooper and Dave Peterson represented Dalfen America, the landlord, and Dan Spika of Henry S. Miller represented the tenant. Farrow Machine & Manufacturing has leased 16,400 square feet of office/warehouse space located at 419 Duncan Perry Rd. in Arlington. Michael Stanzel of NAI represented the landlord, A&R Management and Development, in the transaction. W.O.E. Construction Inc. has leased 15,000 square feet of office/warehouse space at 941 Avenue N in Grand Prairie. Stanzel represented the landlord, Cobalt Industrial REIT II, and Moore Matthews of RW Commercial represented the tenant. Classic Stone & Tile has leased 8,399 square feet of office/warehouse space at 2120 Hutton Dr. in Carrollton. John Lancaster and …
CROSSROADS — Stampede Equities has acquired a 14,710-square-foot retail strip center in Crossroads. Carter Kendall of Henry S. Miller Brokerage arranged the acquisition from previous owner Stillwater National Bank. The retail center is located along U.S. Highway 380 and is 90 percent occupied with tenants like Domino’s Pizza, Cornerstone Dental and January’s Salon.
