Texas

HFF CLOSES SALES OF TWO PROPERTIES IN HOUSTON

by admin August 18, 2011

HOUSTON — Holliday Fenoglio Fowler (HFF) has brokered the sale of the following properties in Houston: Beltway Antoine Business Center, a 383,100-square-foot, Class A industrial park, has been purchased by DCT Industrial Trust, Inc. Beltway is comprised of seven buildings and is 95 percent leased to 17 tenants. The property is located at 3403-3463 N. Sam Houston Pkwy. in Houston’s industrial submarket. The seller, Denver-based Mountain West Industrial Properties, was represented by HFF’s Rusty Tamlyn and Trent Agnew. Broadstone Grand Parkway, a 342-unit, Class A multifamily community near Katy, has been purchased by Sunstone Realty Advisors. Broadstone is located at 1111 Falcon Park Dr. and is 95.9 percent leased. The property completed construction in 2010 and was developed by Phoenix-based Alliance Communities, a division of Alliance Residential Co., the seller. Prudential Real Estate Investors advised Alliance in the transaction. HFF’s Todd Stewart, Craig LaFollette, Todd Marix, Tre Banks and Chris Curry represented Alliance in the transaction. HFF also arranged a fixed-rate acquisition loan for Broadstone. HFF’s Matt Kafka and John Brownlee arranged the financing provided by Allstate Investments.

August 18, 2011

HDA ARCHITECTS DESIGNS 112,000 SF OFFICE BUILDING IN LUBBOCK

by admin August 18, 2011

LUBBOCK — HDA Architects has designed a 112,000-square-foot corporate headquarters in Lubbock for Standard Sales Co. The building cost $10.8 million to construct. General contractor SM Wilson completed construction on the project. The building features a clay tile mansard roof, slate floors and brick and stone veneers. Standard Sales Co. is the wholesale distributor for Anheuser-Busch, which produces Budweiser and Michelob beverages. The new facility marks HDA’s 90th facility it has designed for the beverage industry.

August 18, 2011

Multifamily Texas

BMC CAPITAL PROVIDES LOANS FOR APARTMENT COMMUNITIES

by admin August 18, 2011

SAN ANTONIO AND ANGLETON — Dallas-based BMC Capital has provided loans for the following properties: Sante Fe Condo Apartments in San Antonio has received a $2.65 million refinancing loan from BMC. The loan features a 7-year fixed rate at 5.07 percent with a 30-year amortization schedule. BMC’s Michael Thompson has arranged the financing through one of BMC’s relationships with Fannie Mae. The 204-unit Oaks of Angleton has received $2.6 million in acquisition financing and renovation proceeds. The loan is based on a 5-year term with 18 months of interest only and a 6.25 percent floor rate.

August 18, 2011

Office Texas

OFFICE BUILDING SELLS IN COPPELL’S GATEWAY PLAZA DEVELOPMENT

by admin August 18, 2011

COPPELL — An 8,006-square-foot office building in the Gateway Plaza Development at 783 Denton Tap Rd. in Coppell was sold by an affiliate of Dallas-based Realty Capital. The building is 83 percent leased to a law firm and ENT For Children, a medical practice. Realty Capital’s Chad O’Neal represented the buyer in the transaction. Gateway Plaza is approximately 50 percent built out.

August 18, 2011

Retail Texas

7-ELEVEN TO ACQUIRE 51 EXXONMOBIL LOCATIONS IN DFW AREA

by admin August 17, 2011

DALLAS AND FORT WORTH — 7-Eleven, Inc. has signed an agreement to acquire ExxonMobil’s retail interests in 51 locations, all of which are in the Dallas/Fort Worth area. The 51 sites include two vacant parcels of land. Most locations will keep the Exxon gasoline brand but be rebranded as 7-Eleven. The stores will be available for franchising and will carry signature 7-Eleven items. 7-Eleven will also extend job offers to the Exxon employees affected by the acquisition.

August 17, 2011

Texas

HANK HANEY GOLF SCHOOLS’ NEW HQ AT CASTLE HILLS IN LEWISVILLE

by admin August 17, 2011

LEWISVILLE — Hank Haney Golf Schools has chosen The Lakes at Castle Hills at 699 Lady of the Lake Blvd. in Lewisville as its world headquarters and plans to open a Hank Haney Golf Academy at the new location. The course has recently changed its name from The Golf Club at Castle Hills as part of the new ownership by Bright Realty. Castle Hills is a 2,500-acre golfing community and the golf course spans 7,152 yards. In addition to current 510-yard driving range, the academy will feature a practice facility.

August 17, 2011

Office Texas

ABC RESTAURANT EQUIPMENT PURCHASES 24,900 SF OFFICE/WAREHOUSE

by admin August 17, 2011

HOUSTON — ABC Restaurant Equipment has purchased 24,900 square feet of office/warehouse space at 1505 Hill Rd. in Houston. ICO Commercial’s Payton Indermuehle represented the seller, a private party. Ed Ayres of Houston Realty Advisors represented ABC, which plans to use the new facility for their warehousing operations.

August 17, 2011

Industrial Texas

FINAL THREE BUILDINGS IN INDUSTRIAL PORTFOLIO SOLD

by admin August 16, 2011

DALLAS — Colliers International has brokered the sale of three industrial facilities, located at 4812, 4821 and 4842 Top Line Dr. in Dallas. The facilities total 142,401 square feet and are currently 84 percent occupied. The buildings were a part of a 278,166-square-foot, seven-building portfolio, known as the Mercantile Quaker Industrial portfolio, which is now completely sold. William B. Jordan, a local investor, purchased the buildings from Mercantile Quaker Industries, represented by Colliers’ Phil Rosenfeld, Matt Thompson and Allen Gump. The other four buildings in the portfolio were purchased earlier this year.

August 16, 2011

Multifamily Texas

ARA BROKERS SALE OF CLASS A MULTIFAMILY PROPERTY IN BEAUMONT

by admin August 16, 2011

BEAUMONT — Atlanta-based ARA has arranged the sale of Beaumont Trace Apartments, a 160-unit, Class A property located at 6105 N. Major Dr. in Beaumont. ARA’s Jeff Paterson and Jon Boone represented the seller, a New York-based private equity firm. A Midwestern investment affiliate of The Seldin Company and World Group purchased Beaumont Trace. The one-, two- and three-bedroom apartments average 982 square feet and feature granite countertops and stainless steel appliances. The property includes a resort-style pool with a sundeck, resident café, fitness center, private garages and carports.

August 16, 2011

Multifamily Texas

HENDRICKS & PARTNERS FACILITATES 164-UNIT MULTIFAMILY SALE

by admin August 16, 2011

DALLAS — Hendricks & Partners has brokered the sale of Wellington Place, a 164-unit multifamily property at 9940 Forest Ln. in Dallas. The property consists of 36 studio apartments, 80 one-bedroom apartments and 48 two-bedroom units. Hendricks & Partners’ Peter Hartnett represented the seller, a Miami-based limited liability company known as LBUBS 2007 – C2 Forest Lane. The buyer was a Dallas-based private capital investor.

August 16, 2011

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