HURST — Texas Appliance Supply, a local residential appliance dealer serving both retailers and builders, has purchased a 71,000-square-foot retail building located at 840 Airport Fwy. in Hurst from Syms Corp. The appliance dealer will occupy 26,500 square feet of the property with 45,000 square feet still available for lease. Doug Jennings of the William C. Jennings Co. represented Texas Appliance Supply, while Richard Polishuk and Christopher Walker of the commercial retail division with The Weitzman Group represented Syms Corp.
SAN ANTONIO — Phoenix-based Cole Real Estate Investments has acquired the Medtronic office building, located within The Rim mixed-use development in San Antonio, from Transwestern. The office property is a 142,000-square-foot Class A property that was constructed in 2008. Medtronic, Inc., a manufacturer of medical devices, occupies the property with a remaining lease term of approximately 10 years with two 5-year renewal options. Boyd Messman represented Cole in house, while Ty Puckett represented Transwestern in house.
PLANO — Plano Independent School District (ISD) has selected Cadence McShane Construction Co. to construct the new single-story, 77,000-square-foot Memorial Elementary School that will be located at 2600 Avenue R in Plano. Cadence McShane will also renovate Weatherford Elementary School, located at 2941 Mollimar Dr. in Plano, on behalf of Plano ISD. It will enhance 64,969 square feet of the existing school facility in addition to the construction of 3,396 square feet of new space. PBK is providing the architectural services for Memorial Elementary School that is scheduled for an August 2012 completion. Perkins + Will is serving as the project architect for Weatherford Elementary School, slated for completion in September 2012.
DALLAS — Holliday Fenoglio Fowler (HFF) has arranged $17.7 million financing for a five-property industrial portfolio totaling 667,702 square feet in northern Dallas. HFF worked on behalf of Crow Holdings to secure the fixed-rate loan through MetLife Real Estate Investments. The portfolio consists of multi-tenant office/warehouse and distribution facilities that are 92 percent leased to tenants including Xerox Corp., Freed's Furniture, Bunzl Distribution, Tohatsu America Corp. and All American Flooring. The properties included in the portfolio are 2005 Valley View Ln., 4650-4654 Nall Rd., 4700 Nall Rd., 4720 Simonton Rd. and 4990 Alpha Rd. in Dallas.
IRVING AND DALLAS — Illinois Mutual Life Insurance Co. has sold a 51,951-square-foot office building, located at 8615 Freeport Pkwy. in Irving, to Capital Commercial Investments. Leigh Richter of Bradford Commercial Real Estate Services represented the seller, while Roger Shipp represented Capital Commercial Investments in house. Meanwhile, Foxworth-Galbraith Lumber Co. has sold a two-story, 47,086-square-foot office building, located at 17111 Waterview Pkwy. in Dallas, to Eclipse Electronics Systems. Sharon Friedberg of Bradford Commercial Real Estate Services and Nick Rossini of UGL Services represented the buyer, while Janice Peters of Hudson Peters Commercial represented the seller.
GEORGETOWN — SHW Group, an educational architecture and engineering firm, has been selected by the Georgetown Independent School District (ISD) to design two elementary schools — McCoy Elementary School to the southwest of Georgetown and a second, unnamed elementary school to the southeast — for a total project cost of $31.2 million. The existing McCoy Elementary School will be repurposed into an administration support facility. Plans for the new two-story, 88,000-square-foot McCoy Elementary School include sustainable features such as rainwater collection, a green roof, local construction materials and day lighting. It will serve 800 kindergarten through fifth grade students. Construction on the new McCoy will begin this spring and is scheduled for completion in fall 2012. The second, unnamed elementary school designed by SHW Group will open no later than 2014. Together, the two new elementary schools will serve 1,600 students.
DEL RIO AND PLANO — A 59-room Comfort Inn & Suites, located at 3636 Veterans Blvd. in Del Rio, has sold. Allan Miller of Marcus & Millichap's Austin office represented both parties, both limited liability companies, in the transaction. In addition, Patrick Giles and Craig Lewin of Marcus & Millichap's Dallas office represented the seller, a Plano-based private investor, in the sale of Plastic & Cosmetic Surgery Center of Texas, an 11,000-square-foot, single-tenant net-leased property in Plano. New York-based Broadstone Net Lease purchased the medical office property, located at 5316 W. Plano Pkwy. The single-story building includes two state-licensed, Medicare-approved operating rooms.
AUSTIN — A joint venture between Investcorp, a global investment manager, and Global Fund Investments has acquired The Shops at Tech Ridge, a 332,845-square-foot shopping center in Austin. Located at the northeast corner of Interstate 35 and Parmer Lane, the retail property was built in 2003 and is shadow-anchored by SuperTarget. Tenants include Best Buy, Toys “R” Us, Ross Dress For Less, PetSmart, Hobby Lobby, Party City and Pier 1 Imports. Global Fund Investments will manage the property, while Austin-based Endeavor Real Estate Group will lease it.
NORTHLAKE — Lester Day and Walter Floyd of Transwestern's Fort Worth office have represented Texas Speedway Return, LLC in its sale of approximately 160 acres of land known as Texas Speedway Center to a buyer, HW Indian Springs, LP, that intends to hold the site for future high-density development. Located at the northeast corner of Interstate 35 West and Highway 1171 in Northlake, the property is entitled for high-density residential and commercial uses. The property was a bank REO.
TEXARKANA — Texarkana Medical Portfolio, a multi-property medical complex with more than 500,000 square feet of space Texarkana's downtown district, has changed hands between two limited liability companies. Jacob Steele and Andy Glinski of Marcus & Millichap's Denver office and Brad Bailey of the firm's Austin office represented both parties. Marcus & Millichap's Tim Speck assisted in closing the transaction. Terms were undisclosed.