DALLAS — Wells Fargo Capital Finance has signed a lease expansion/renewal for a total of 51,836 square feet of office space at the International Plaza III building, located at 14241 Dallas Pkwy. in Dallas. Tim Terrell of Dallas-based Stream Realty Partners and Jim Fish of Travers Realty's west Los Angeles office represented the tenant. The landlord is Newport Beach, Calif.-based KBS Realty Advisors.
Texas
DALLAS — Seven tenants have executed leases for a total 33,185 square feet at the 510,528-square-foot Providence Towers, a Class A office tower located at 5001 Spring Valley Rd. in Dallas. The activity includes Confidence Music leasing 3,914 square feet; Risk Placement Services leasing 1,480 square feet; Custom Staffing leasing 3,934 square feet; The Hay Group leasing 8,285 square feet; Lucas Associates leasing 10,056 square feet; Mullin TBG Insurance Agency Services leasing 3,532 square feet and Paranet Solutions leasing 1,984 square feet. KBS partnered with Transwestern to complete these transactions.
SUGAR LAND — An investment partnership has purchased the 30,000-square-foot Voss Road Storage at 15492 Voss Rd. in Sugar Land. The undisclosed seller was represented by Neil Martin and Taylor Schmidt of the Finial Group, and the buyer was represented by Eric Smith and Peter Meyer of Self Storage Brokers of America.
GALVESTON — Grandbridge Real Estate Capital has secured a $16.4 million construction/permanent loan for an 85-room Marriott Courtyard and an 88-room TownePlace Suites, both located in Galveston. Gary Dunkum of Grandbridge's Houston office arranged the financing with an 18-month term for construction and a 5-year permanent loan with a 24-year amortization schedule through one of Grandbridge's correspondent lenders.
LEWISVILLE — Cinetopia has signed a letter of intent with Bright Realty to open a 70,000-80,000-square-foot theater at The Bridges at Castle Hills, a master-planned community being developed in Lewisville by Bright Realty. The Castle Hills Cinetopia will be the first Cinetopia location in Texas and will offer 16-18 screens. The theater will include a restaurant, a wine bar with indoor and outdoor seating and conference rooms for business meetings.
OKLAHOMA CITY — Marcus & Millichap has provided financing for a Burger King restaurant in Oklahoma. Christopher Marks of Marcus & Millichap's Manhattan office arranged the $500,000 loan based on a 5-year term with a 20-year amortization schedule through a national bank.
GALVESTON — Grandbridge Real Estate Capital has secured a $16.4 million construction/permanent loan for an 85-room Marriott Courtyard and an 88-room TownePlace Suites, both located in Galveston. Gary Dunkum of Grandbridge's Houston office arranged the financing with an 18-month term for construction and a 5-year permanent loan with a 24-year amortization schedule through one of Grandbridge's correspondent lenders.
FORT WORTH — Harvey, La.-based Hydradyne Hyrdraulics has purchased a 171,065-square-foot industrial building, located at 4301 Empire Rd. in Fort Worth. Tom Walrich, Mark Graybill and Donnie Rohde of Lee & Associates' Dallas office represented the seller, Scottsdale, Ariz.-based Harmony Asset Management, in the transaction. Dave Anderson of CBRE's Dallas office represented the buyer.
FORT WORTH — The Weitzman Group has arranged the sale of the 33,127-square-foot Basswood Crossing, a shopping center located at 7451 N. Beach St. in Fort Worth. Greg McDonald of The Weitzman Group's Dallas/Fort Worth office represented both the buyer, Dallas-based BasswoodBeach Crossing, Ltd., and the seller, Dallas-based Basswood Crossing Limited Partnership. The shopping center includes tenants such as CiCi's Pizza, O'Reilly Auto Parts, Great Clips and Paradise Tan.
LAKE WORTH — NorthMarq Capital has arranged $2.6 million in first mortgage financing for Staples and Applebees locations in Fort Worth. The two merchants occupy a combined 28,500 square feet of retail space. Ronald Reese of NorthMarq's Dallas office and Gary Cohen of the firm's north New Jersey office arranged the financing on a 10-year term with a 20-year amortization schedule through Symetra Life Insurance Co. on behalf of the borrower, Sachs Investing Co./Palin Enterprises.