ALLEN, PLANO AND FLOWER MOUND — Four Texas commercial real estate properties in Allen, Plano and Flower Mound are being auctioned through The Carlton Exchange (CEX), a New York-based exchange for the buying and selling of loans and REO assets, and a subsidiary of Carlton Advisory Services, an international real estate investment banking firm. The assets are offered on a competitive real time bid basis through the CEX Loan and REO MLS Exchange. Pre-qualified bidders can bid on a first-come, first-serve basis and assets can be awarded as seller accepts same. All assets can be found on the Carlton Exchange website at www.carltonexchange.com. Among the Texas properties being offered: a two-story, 50,000-square-foot office building on nearly 4 acres in Allen; a new fully operating 92-room hotel in Plano; a cash-flowing 35,000-square-foot shopping center on approximately 14 acres in Plano; and an REO property consisting of a 14,900-square-foot neighborhood retail center in Flower Mound.
Texas
DALLAS — Dallas-based Centennial Real Estate Co., along with Dallas-based Corinthian Apartment Investments and equity partner Praedium Fund, has acquired The Èlan at Bluffview, a mixed-use multifamily and retail development located at 3850 W. Northwest Hwy. in Dallas. The property features 181 luxury one- and two-bedroom apartments with lofts ranging from 900 to 2,000 square feet, which are 95 percent occupied. It also includes 70,000 square feet of retail space originally built in the 1980s that is 30 percent leased.
AUSTIN AND HOUSTON — Austin-based Seven Hills Commercial has completed renovation services for Post Investment Group's 370-unit University Heights Apartments in Austin and its 496-unit Oaks at Wood Forest Apartments in Houston. The projects included demolition, mold and asbestos abatement, complete unit interior rehabs and entirely new amenity packages. University Heights and Oaks at Wood Forest were financed by Hudson Realty Capital and Texas Capital Bank respectively.
HOUSTON — Cadence McShane Construction Co. has completed a build-to-suit industrial property for XL Parts, a direct-to-the-installer parts supplier, at 15701 Northwest Freeway in Houston. Phase I of the project included the reconstruction and build-out of a 12,017-square-foot shell office space within XL Parts' existing 187,620-square-foot industrial center. Phase II then encompassed the construction of a 101,650-square-foot build-to-suit industrial building. XL Parts' inventory exceeds 120,000 part numbers incorporating 175 product lines.
HOUSTON — Intertek Testing Services has signed two leases totaling 58,672 square feet in Houston. The company sublet 44,338 square feet of office space at Two Riverway, and Intertek Oil, Chemical and Agriculture Division leased 14,334 square feet of office space at 801 Travis St. Don Foster and Chad Beck of Jones Lang LaSalle represented the tenant in both transactions. Meanwhile, Scott Wegmann of Cushman & Wakefield and Justin Leighton of Studley represented the sub-landlord, CB&I, at Two Riverway office building.
IRVING — TXU Energy, which provides electricity and related services to more than 2 million customers in Texas, has renewed its 189,775-square-foot office lease at Las Colinas Urban Center in Irving. The location serves as TXU Energy's primary customer service call center. Brad Selner, Jon McNeil, Terry Darrow and Brooke Armstrong of Jones Lang LaSalle represented TXU Energy. C.E. Doc Cornutt represented the landlord.
FRISCO — Oracle America, Associated Network Providers and SEMbio Partners have all leased space in Duke Bridges III, a 160,263-square-foot Class A office building in Frisco. Oracle America, a business software and hardware systems provider, will occupy 48,652 square feet of space; Associated Network Providers, a wholesale long distance provider, will occupy 5,631 square feet of space; and SEMbio Partners, a recruiting company for the pharmaceutical industry, will lease 1,875 square feet. Greg Langston, Bret Hefton and John Flack with CRESA Partners represented Oracle and Billy Gannon with Cushman & Wakefield represented SEMbio Partners in their respective transactions. Meanwhile, Dale Ray and Joel Pustmueller with Peloton Commercial Real Estate represented the landlord, Duke Realty, on all three leases.
HALTOM CITY — USA Eagle Carports has acquired a 74,800-square-foot industrial building at 5700 E. Belknap St. in Haltom City, and leased 20,000 square feet back to the seller, Stevens Technology. Bradford Commercial Real Estate Services negotiated the sale of the industrial property, which is situated on 1.56 acres of land.
IRVING — Wells Core Office Income REIT has acquired Royal Ridge, a 119,000-square-foot Class A office building in suburban Dallas that is fully leased to JPMorganChase through 2020. The three-story building was built in 2005 and is located at 3929 John W. Carpenter Freeway in Irving. Brookfield Real Estate Opportunity Fund II sold the office property.
ROUND ROCK — Melograno at Teravista, a 320-unit luxury garden apartment community located at 401 Teravista Pkwy. in Round Rock has been acquired by a real estate investment partnership managed by Bethesda, Md.-based Crossbeam Capital and Houston-based Concierge Asset Management. The property was completed in 2008 and sold by Bryan, Texas-based Godfrey Residential Group.