HOUSTON — Steve States of States Mortgage Co. has arranged an $8.65 million loan for the refinance of a 63,000-square-foot medical office building property in Houston. The borrower, a group of physicians, developed the property in 2006. States Mortgage Co. secured the 10-year fixed-rate loan with a sub 5 percent interest rate through one of its bank lending sources.
Texas
CARROLLTON — Nathan Denton and Greg Nelson of Lee & Associates have represented the seller, D&D Wood Properties, Ltd., in the sale of a 24,214-square-foot industrial building located at 1910 Old Denton Rd. in Carrollton. Ricky Seigler purchased the property.
HOUSTON, HILLSBORO AND CARROLLTON — John Wall, Jr., Randall Tuller and Maury Bronstein of The Situs Companies represented Lexington Realty Trust in the individual sales of three Texas properties. These properties include a 54,571-square-foot building leased to Kroger located at 13133 Stuebner Ave. in Houston, a 25,396-square-foot building leased to Safeway located at 120 South Waco St. in Hillsboro and a 62,058-square-foot building leased to Ong’s Family located at 3040 North Josey Ln. in Carrollton. All three assets were acquired by various limited partnerships.
AUSTIN — A 481,000-square-foot office and research-and-development building in Austin has entered the market listed at $49.9 million. The building, known as Domain 45, has been fully leased to IBM since 2000 and is located at 11400 Burnet Rd. in Austin. Grubb & Ellis is advising the seller, a partnership of wealthy individuals.
SHENANDOAH — The Woodlands-based J. Beard Real Estate Co. has arranged the sale of a 17,000-square-foot sports and recreation facility located at 17951 Interstate 45 in Shenandoah. The buyer, Sports Culture USA, is planning on remodeling the existing facilities and adding stadium seating to the sports fields. Emilio Guzman of Colliers International represented the buyer, and Josh Feinberg of the J. Beard Real Estate Co. represented the seller, an out-of-state partnership.
OKLAHOMA CITY, OKLA., AND BIRMINGHAM, ALA. — On behalf of Stonegate Real Estate Investments, Jones Lang LaSalle (JLL) secured $70 million for the refinancing of two Class A office properties in Oklahoma City and Birmingham. The properties include the 298,510-square-foot Quail Springs Parkway Plaza in Oklahoma City and the four-building, 4,000-acre mixed-use Urban Center Office Portfolio in Birmingham. Wells Fargo provided the two 10-year, fixed-rate senior mortgage notes. Tom Melody of Jones Lang LaSalle’s Houston office led the Jones Lang LaSalle team.
HOUSTON — Jeffrey Fript of Marcus & Millichap Real Estate Investment Services’ Houston office has arranged the sale of the Village of Fondren Apartments, a 72-unit property located at 6255 West Airport Rd. in Houston, to a Miami-based company for $2.85 million. The buyer, also represented by Jeffrey Fript, plans to reposition the property by renovating the interiors and adding amenities.
SOUTHLAKE — An affiliate of Dallas-based Realty Capital Corp. has arranged the sale of a 3,200-square-foot building in its Miron Grove Office Park, located on Miron Drive in Southlake, to a medical imaging physician’s group. The seller, RCC Miron Office, was represented by Mark Boone with Realty Capital Corp.
HOUSTON — Greg Austin and Chip Nash of Jones Lang LaSalle’s Houston office have been hired to market the 285,000-square-foot Legends at Cinco Ranch in Houston for Dallas-based Sterling Investco, a multifamily developer. The 260-unit community in Houston’s Energy Corridor is expected to fetch in excess of $40 million. The firm has also been hired to secure $8 million in construction financing for Phase II of the project. Phase I has recently been completed and Phase II will break ground this summer.
HOUSTON — Six office leases for a total of 146,987 square feet have recently been completed at Sage Plaza, a 519,966-square-foot, Class A office development located at 5151 San Felipe St. in Houston's Galleria/Uptown area. Bonnie Kelley of CB Richard Ellis (CBRE) represented the landlord, a fund managed by BlackRock, in all six transactions. Meanwhile, Rich Pancioli of CBRE represented Columbia Gas Transmissions in its 55,500-square-foot lease; Dan Foster of Jones Lang LaSalle (JLL) represented Science Applications in its 41,132-square-foot lease; David Bale of JLL represented OTC Global in its 21,150-square-foot lease; Chris Lewis of Griffin Partners represented Higginbotham Insurance Agency in its 20,841-square-foot lease; Steve Beigel of Studley represented Black & Veatch Corp. in its 6,255-square-foot lease; and Justin Leighton of Studley represented Global Ground Transport in its 2,109-square-foot lease.