BASTROP — Plano-based Rent-A-Center has opened a 6,000-square-foot showroom, located at 67 Loop 150 W. in Bastrop. The new store marks the business' 281st location in Texas. San Antonio-based GLM Construction built the store, which was designed by Dallas-based Dimension Group.
HOUSTON AND OKLAHOMA CITY — Chicago-based Harrison Street Real Estate Capital has acquired an eight-property senior housing portfolio, with properties in Texas and Oklahoma, from E-Quest Management for $125 million in an off-market transaction. Harrison Street's partners, Houston-based Bridgewood Property Co., will manage the portfolio, which includes Village on the Park – Houston; Village on the Park – Friendswood; Village on the Park – Oklahoma City; Carriage Inn – Conroe; Carriage Inn – Bryan; Carriage Inn – Lake Jackson; Carriage Inn – Huntsville and Carriage Inn – Katy.
TEXAS — Murfreesboro, Tenn.-based National Health Investors has completed a $49.8 million sale-leaseback transaction with Legend Healthcare for four skilled nursing facilities in Texas, which are leased to Legend for 15 years. Legend has the option to purchase the facilities after 7 years.
HOUSTON — Los Angeles-based Pacific Retail Capital Partners has committed $24 million for the redevelopment of its 1.07 million-square-foot West Oaks Mall, located at 1000 West Oaks Mall in Houston. The redevelopment includes a new grand entrance, lighting and furniture upgrades, a new pedestrian plaza, the addition of a 14-screen Edwards Theatre and several new restaurants. The redevelopment is slated for a fall 2012 completion.
DEL RIO — McShane Construction has commenced construction on the 48-unit Las Brisas Manor Senior, an independent living facility, on behalf of the developer, The Paces Foundation. The 60,229-square-foot property will feature a brick exterior and individual porches and balconies. Martin Riley Associates – Architects is designing the facility to achieve Green Built Texas designation. Funding for the project came from the Texas Department of Housing and Community Affairs through its HOME Investment Partnerships Program. The facility is slated for a June 2012 completion.
WINDCREST — Whitestone REIT has signed SKECHERS USA to a 10,000-square-foot lease for a new outlet store inside the Windsor Park Centre, a shopping center located at 8610 Fourwinds Dr. in Windcrest. Other tenants in the center include The University of Phoenix, Michaels, Cavender's Boot City, Office Depot and PetSmart. Ross Dress for Less and Mattress FIRM are expected to be open for business in the center during 2012. Whitestone REIT was self-represented by Dan Nixon and Richard Vaughan in the lease transaction. Leslie Mayer of Cushman & Wakefield's Los Angeles office and Gene Williams of The Weitzman Group's San Antonio office represented the tenant.
FORT WORTH — Global Income Trust has purchased the 164,000-square-foot Heritage Commons IV, a Class A office building located in Fort Worth in the AllianceTexas master planned development, for $31 million. The property is fully leased to Mercedes-Benz Financial Services USA. Global Income Trust is sponsored by CNL Financial Group.
RICHARDSON — Franklin Street Properties Corp. has purchased the 122,300-square-foot AT&T Services Building, an office building located at 1410 Renner Rd. in Richardson. The property is fully leased to AT&T Services through 2018 and is a part of the Richardson Telecom Corridor. The property also has two subtenants — Stewart Title of North Texas and The Dallas Morning News, owned by A.H. Belo. Gary Carr, Eric Mackey and Russell Ingrum of CBRE's Dallas office represented the seller, LBA Realty, in the transaction.
COPPELL — CBRE has secured $13.5 million in financing for the 90,225-square-foot Coppell Market, a grocery-anchored shopping center located at the northeast corner of North Denton Tap Road and Highway 121 in Coppell. The shopping center is anchored by a 69,800-square-foot Market Street store and was 97 percent leased at the time of closing. Scott Lewis of CBRE's Debt & Equity Finance Group in Dallas arranged the 10-year loan with a 30-year amortization schedule through Goldman Sachs Commercial Mortgage Capital on behalf of the borrower, an entity controlled by UCD Development and Rainier Capital Management.
FORT WORTH — Ecolab has signed a 101,500-square-foot industrial lease at 1801 Riverbend W. Dr. in Fort Worth. Richard Minker of CASE Commercial Real Estate Partners' Fort Worth office represented the landlord, Michael Milliorn, and Ken Boyd of Dallas-based Jackson Cooksey represented the tenant.