SUGAR LAND — CBRE has brokered the sale of a 12,500-square-foot industrial property, located at 10507 Fallstone Rd. in Sugar Land. Glynn Mireles of CBRE's Houston office represented the seller, Houston-based Kamal and Reema Dama, in the transaction. Luke Thao Dinh, an independent broker, represented the buyer, Quotran Corp.
HOUSTON — Sugar Land-based American Commercial Contractors has commenced construction on Houston-based DataVox's $10 million, 48,000-square-foot corporate headquarters, located along West Sam Houston Parkway near Bellaire Boulevard in Houston. The three-story building will feature a three-story glass curtain wall atrium, sky bridges, a large server room, a networking operational center and a warehouse. The new headquarters are slated for completion in September 2012.
HOUSTON — TPG/CalSTRS LLC, an affiliate of Los Angeles-based Thomas Properties Group, has sold the 578,284-square-foot 2500 CityWest Boulevard, an office building located in Houston for $16 million. The property recently received LEED Silver certification. The sale also includes adjacent land parcels totaling 6.3 acres.
MIDLAND — Marcus & Millichap has arranged the $7.7 million sale of the 107,531-square-foot Colonnade at Polo Park, a shopping center located at 4610 N. Garfield St. in Midland. The property was 70 percent leased at closing to tenants such as Men's Wearhouse, Jason's Deli, Abuelo's Mexican Restaurant, Tuesday Morning and Golf Headquarters. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a financial institution.
HOUSTON — The Admiral Capital Real Estate Fund, founded by NBA hall of famer David Robinson, has acquired the majority equity interest in the 190-room Hilton Garden Inn, located at 12245 Katy Freeway in Houston's Energy Corridor, for an undisclosed price. Houston-based American Liberty Hospitality will continue to manage and partially own the hotel.
AUSTIN — HFF has facilitated refinancing for the 184-unit Waters Edge Apartments, a multifamily property located at 12330 Metric Blvd. in Austin. The property is comprised of seven buildings and features a two-story fitness pavilion, resort-style pool, business center and entertainment room. Waters Edge is currently 95 percent occupied. Cortney Cole of HFF's Houston office arranged the 7-year loan through Freddie Mac on behalf of the borrower, Houston-based Venterra Realty.
MIDLAND, SAN ANTONIO AND NEW BRAUNFELS — Hendricks & Partners has brokered the sale of the 1,040-unit Vantage portfolio, a four-property acquisition including Vantage at Midland in Midland, Vantage at Schertz in San Antonio, Vantage at New Braunfels in New Braunfels and Vantage at Converse in San Antonio. Mke Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller in the transaction. Joe Simon of Chicago-based Americus Realty represented the buyer in the transaction.
MCKINNEY — Lee & Associates has arranged the $7.3 million sale of a 14,820-square-foot property leased by Walgreens, located in the master-planned community Craig Ranch at 8996 Stacy Rd. in McKinney. Jim Casale of Lee & Associates' San Diego office represented the buyers, a private family trust, in the transaction. Brad Kam and Gavin Kam of Net Lease Realty Advisors represented the sellers, JK 720 Custer LLC.
AUSTIN — Jones Lang LaSalle's Capital Markets has secured $35 million in construction financing for the development of Riverview Apartments, located at the intersection of Interstate 35 and Riverside Drive in Austin. Mike Melody and Jimmy Board arranged the 3-year loan through Bank of America on behalf of CDK Realty Advisors.
SAN ANTONIO — Marcus & Millichap has brokered the sale of Comfort Suites Alamo Downs, a 75-room hotel at 8021 Alamo Down Pkwy. in San Antonio. The seller, a financial institution, foreclosed on the property in July. Allan Miller of Marcus & Millichap's Austin office and Chris Gomes of the firm's Dallas office represented the buyer, a private investor.