NORMAN, OKLA. — Inland Real Estate Acquisitions, Inc., on behalf of Inland Diversified Real Estate Trust, Inc., has acquired University Town Center, a newly constructed 158,516-square-foot retail center in Norman, for $32.5 million. Tenants include TJ Maxx, Office Depot, Ulta, Petco, Dress Barn, Hallmark, Maurices, AT&T Cellular and Qdoba. The center is shadow anchored by a Super Target that wasn't purchased by Inland. Matthew Tice represented Inland in house, while Ryan Shore and Doug Hazelbaker of HFF represented the unlisted seller.
Texas
DENTON — An 83,481-square-foot facility in Denton that is leased to the Federal Emergency Management Agency (FEMA) through May 2022 has sold. A Frankfurt, Germany-based company sold the property and was represented by HFF. As part of the transaction, the German company also sold a 106,955-square-foot FBI building in Las Vegas.
PASADENA — San Jacinto Community College District has purchased the 22,707-square-foot office building located at 4620 Fairmont Pkwy. in Pasadena. Bill Harry of Bill Harry Real Estate represented San Jacinto Community College District in the purchase. Marshall Clinkscales of Colliers International represented the seller, Plano Vistas Ltd.
OKLAHOMA CITY, OKLA. — Inland Diversified Real Estate Trust has purchased the 135,028-square-foot Silver Springs Pointe, located in Oklahoma City, Okla., for $16 million. The Kohl's-anchored center includes tenants Office Depot, GameStop and Verizon Wireless. Lou Quilci of Oak Brook, Ill.-based Inland Real Estate Acquisitions represented the buyer.
HOUSTON — Cadence McShane Construction Co. has completed the 89,383-square-foot Robert Lee Frost Elementary School on behalf of the Houston Independent School District (ISD). The $12 million facility is situated on 11 acres at 5002 Almeda Genoa Rd. in Houston. It offers 40 classrooms, two science laboratories and a library. The building was constructed to meet LEED standards. The new facility serves as a replacement school for the existing 60,753-square-foot, 47-year-old Robert Lee Frost Elementary School at 5650 Selinsky Rd. in Houston. RDC Architects provided the architectural services for this school construction assignment.
AUSTIN AND FORT WORTH — Irvine, Calif.-based Passco Cos. has purchased four CVS/pharmacy stores in sale-leaseback deals. All four stores are newly constructed and recently opened by CVS/pharmacy featuring drive-thru pharmacies. Two of the stores are located near Austin and one near Fort Worth. The fourth store is located in Bakersfield, Calif. Passco Cos. specializes in the acquisition and management of both commercial and residential properties in targeted markets across the U.S.
STAFFORD — Land has been purchased at the corner of Pike and Stafford roads in Stafford for the development of a new business park called Stafford Business Park. Vickery/Stafford Investments, Ltd. sold the 10.47 acres to Stafford Business Park, Ltd. Lang Motes of Indermuehle & Co. represented the seller, while Darren O'Connor of NAI Houston represented the buyer.
CORSICANA — Jeld-Wen, Inc., a manufacturer of windows and doors, has sold a 58,080-square-foot warehouse facility located at 4000 E. State Hwy. 31 in Corsicana. Ashley Pope and Gary Collett of Cushman & Wakefield of Texas represented Jeld-Wen in the transaction along with Craig Hughes of Hughes Commercial and Bo Mills and Mark Detmer of Cushman & Wakefield of Arizona. BR Properties, LLC, purchased the warehouse and was represented by Karen Williams of RE/Max of Corsicana.
FORT WORTH — A Starbucks- and Chick-fil-A-anchored retail center located at 3250 Hulen St. in Fort Worth has sold for $3.6 million. The Mansour Group of Marcus & Millichap facilitated the sale, representing the seller, a private developer. A locally based private investor purchased the property.
STEPHENVILLE — Big Lots has leased 25,020 square feet of space at University Plaza, located at 2029-2133 W. Washington St. in Stephenville. Karen Mitchell of The Woodmont Company represented Big Lots. The Woodmont Company also represented the landlord in the transaction. Current tenants at University Plaza include Sherwin Williams, Quizno's, Merle Norman, Sprint and Burke's Outlet.