DESOTO — Denver-based Baceline Investments, a private equity real estate investment management company, has purchased Fountain Village Shopping Center, a 37,000-square-foot neighborhood retail center in DeSoto. Baceline acquired the property from a loan special servicer for $1.2 million. Built in 1986, the property is only 25 percent occupied. Baceline intends to convert the property into convenient, low-cost medical office space. Fountain Village is the fourth distressed property acquired by Baceline in the past year as part of its distressed property initiative.
HOUSTON — BreitBurn Energy, an independent oil and gas limited partnership, has renewed its office lease at 600 Travis St., also known as Chase Tower, in Houston. Doubling its size, BreitBurn Energy signed a new lease extension for 42,136 square feet at the 75-story, 1.6 million-square-foot Class A tower in Houston's downtown business district. Allison Knight and Chrissy Wilson represented the building's owner, Hines Interest, while Harry Holmes II of Newmark Knight Frank represented BreitBurn Energy.
DALLAS AND RICHMOND — Texas Retina Associates has leased a 2,850-square-foot medical office suite within McShane Development's 92,000-square-foot 10740 Medical Office Building in Dallas. It's the 14th office throughout Texas for Texas Retina Associates, which is the state's largest ophthalmology practice focused on specifically on the diagnosis, treatment and surgery of the retina and vitreous. In addition, McShane Development has launched a fully equipped 1,400-square-foot timeshare suite with the company's OakBend Doctors Center — Southwest Freeway medical office building, located on the new hospital campus of the OakBend Medical Center in Richmond. The timeshare suite allows physicians the flexibility of providing patient care in areas where the doctor does not need to maintain a full-time presence. Physician and practice groups have the option of leasing the suite in full-day increments, which accommodates varying patients demand levels. The suite offers a waiting area, treatment rooms, physician offices, a kitchen/break room and a secure area for the storage of patient records and personal items.
DALLAS — Warrior Group, a Dallas/Fort Worth-based general contractor, will provide construction management services for renovations of the FretzPark Recreation Center, located at 6950 Beltline Rd. in Dallas. The project entails interior and exterior improvements to the existing 13,600-square-foot recreation center that serves the North Dallas community. The work will include mechanical and electrical system upgrades, lighting replacement, architectural finishes and site work. Construction is set to begin in May, with an estimated completion date of January 2012. GGO Architects, Dallas, is the architect of record, while Dallas-based Pegasus/URS is the program manager for the project.
IRVING — The Connor Group, a Centerville, Ohio-based real estate investment firm, has acquired Knightsbridge Apartments, a 308-unit multifamily community, for $27.5 million in the Las Colinas and Irving area close to the Dallas-Fort Worth Airport and the Four Seasons Hotel and Resort. Knightsbridge Apartments is located at 5342 Bond St. in Irving.
NORTH RICHLAND HILLS — Fort Worth Community Credit Union has purchased a 4,000-square-foot building located on Davis Boulevard in North Richland Hills. Previously occupied Washington Mutual Bank, the building is situated west of a Target-anchored shopping center with tenants including Starbucks, Radio Shack and Game Stop. Fort Worth Community Credit Union is expected to open this fall. Christopher Gibbons of Venture Commercial represented Fort Worth Community Credit Union in the transaction, while David Levinson of The Retail Connection represented the seller, Inland Western North Richland Hills.
DALLAS — CAPSTAR Real Estate Advisors, a privately held real estate operating company, along with an institutional partner, has sold Bluffview Towers, a two-building, 196,356-square-foot Class A office complex in Dallas. Commercial Developments International (CDI) purchased the towers, located at 3860 and 3890 Northwest Hwy. The property's East Tower encompasses 126,132 square feet over seven stories and the West Tower totals 70,224 square feet throughout four stories. Renovated in 2009, the property is 96 percent leased to tenants including GSA, Inland American, Sewell, HEB Grocery and Atrium Cos. Holliday Fenoglio Fowler (HFF) marketed the property on behalf of CAPSTAR.
KILLEEN — Atlanta-based ARA, a full-service investment advisory brokerage firm, has arranged the sale of the Arbors of Killeen Apartments in Killeen. Kelly Witherspoon and Jeff Patterson of ARA's secondary markets team in Austin represented the seller, an Arlington-based private investor. Place Properties, an Atlanta-based national investment group, purchased the multifamily property for an undisclosed price. Arbors of Killeen is located at 2801 O.W. Curry Dr. in Killeen. Built in 1996, the 160-unit property offers one-, two- and three-bedroom floor plans averaging 768 square feet.
DALLAS — RSW Dallas has sold a 92,880-square-foot industrial building located at 11160 Denton Dr. in Dallas to Rory Sterling, Custom Floor Service. The seller was represented by Nathan Denton, Trey Fricke and Reid Bassinger of Lee & Associates' Dallas/Fort Worth office. Clint Riley of Transwestern's Dallas office represented the buyer. The price of the sale was undisclosed.
DALLAS — The Dallas-based Thompson & Knight law firm represented Fibra Uno, a Mexican REIT. The REIT was launched in March with an initial public offering that raised 3.62 billion pesos, about $300 million U.S. dollars. Guillermo Uribe led the Thompson & Knight team, which included Adrián Gay, Jorge Gonzalez, M. Cecilia Gutierrez-Sansano, Laura Martínez and Cecilia Zaldivar.