HOUSTON — B-Doune Investments has purchased a 10,800-square-foot industrial building at 1631 and 1633 Oak Tree Dr. in Houston. Darren O'Conor and Jim Autenreith of NAI Houston represented the seller, Roderick Wiggins. Cecille Sangalang of Sangalang Realty Group represented B-Doune Investments.
Texas
HOUSTON — Direct Airflow Distributors, Inc., dba Coastal HVAC Supply, has signed a 53,350-square-foot lease in Greenspoint Business Center, Building B in Houston. The company will relocate to the space in August from another 30,000-square-foot facility in Houston. Atlanta-based IDI owns Greenspoint Business Center, which features three existing industrial facilities for a total of 406,000 square feet as well as pads for five additional build-to-suit or speculative buildings for a total of 1.1 million square feet. The 106,700-square-foot Building B was developed in 2008 and is currently occupied by Merla, LLC, which has 26,000 square feet. Andy Iverson and Griffin Rich with Jackson & Cooksey represented Coastal HVAC Supply in the lease, while Ben Newell represented IDI.
WEST ODESSA — A 6,446-square-foot AutoZone, a single-tenant, net-leased property, has sold in West Odessa. The buyer, a limited liability company, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap's Las Vegas office. The retail property is located at 420 N. County Rd.
HOUSTON — DriveTime has purchased the former Beck & Masten car dealership at 11205 Gulf Freeway in Houston. The 8.8-acre tract included a 22,339-square-foot showroom and maintenance facility. The buyer was represented by John Ferruzzo and Stephen Tou of NAI Houston. Christopher Klein of Colliers International represented the seller, Barnett Realty, Inc.
DALLAS — A single-story, 73,349-square-foot industrial-flex building located at 2800 W. Mockingbird Ln. in the Love Field submarket of Dallas has been acquired by Shreveport, La.-based Roundtree Automotive Group LLC, a group of new car dealerships operating in Texas, Louisiana and Alabama. Behringer Harvard Mid-Term Value Enhancement Fund I LP purchased the property in 2005. It was leased for approximately 10 years to Government Records Services, Inc., part of Affiliated Computer Systems (ACS), a provider of business process and information technology outsourcing solutions, before the company vacated the property in November 2010.
DALLAS — A 42,083-square-foot warehouse situated on 2.11 acres at 1108-1114 Quaker in Dallas has sold. Mercantile-Quaker LLC sold the industrial property to Jewmor Holdings Limited Liability. Allen Gump, Phil Rosenfeld and Matt Thompson of Colliers International represented the seller, while Clint Riley of Transwestern represented the buyer.
DALLAS — The Hilton Dallas/Park Cities, a 224-room, full-service hotel located at 5954 Luther Ln. in Dallas, has changed hands. Apple Nine Hospitality Ownership purchased the hotel for an undisclosed amount. Originally built in 2001, the property was renovated in 2010 and features 5,000 square feet of meeting space, a full-service restaurant and bar, a 24-hour fitness center, an outdoor swimming pool and a club lounge. John Bourret, Whitaker Johnson and Dan Peek of HFF represented the unlisted seller.
IRVING — Stephen Whitehead of NorthMarq Capital's Dallas regional office has arranged first mortgage financing of $5.3 million for a 120-room Fairfield Inn and Suites located at 4120 W. Airport Freeway in Irving. Financing was based on a 20-year term and a 20-year amortization schedule with 1-year interest only and was arranged for the borrower, Savoy Hospitality, through NorthMarq's relationship with Prosperity Bank.
FORT WORTH — Capmark Bank, represented by Lamont Rattler and David Ellis of Cushman & Wakefield of Texas, has sold Cumberland on Granbury, a 282-unit Class A apartment community in Fort Worth, to S&H Realty Management, LLP. The multifamily property is located at 6850 Granbury Rd. near Hulen Street in southwest Fort Worth. S&H Realty Management is an out-of-state private buyer that owns and manages several multifamily assets in Tarrant County, Texas.
FRISCO — Forest City Development and its partner, Ernest Mahard Jr., is planning to develop a 320-acre mixed-use development on the southwest corner of the Dallas North Tollway and U.S. Highway 380 in Frisco. Bounded by Virginia Parkway and County Road 26, the development will encompass retail, residential, office, entertainment, hospitality, and municipal parks and services. Currently, the City of Frisco has executed a Memorandum of Understanding with Forest City Development and Ernest Mahard Jr. for the development. Specific plans will come at a later date.