HOUSTON — Situs has completed the REO sale of an 18.7-acre property located in Houston. The parcel is situated at the corner of Bellaire Boulevard and Fondren Road near Sharpstown Mall. It was formerly the home of Gillman Automotive Group, which vacated the site 7 years ago. The buyer was St. Agnes Academy, a Catholic high school that is located 1 mile west of the property. The Situs team of Martin Bronstein, Maury Bronstein, Randall Tuller and John Wall, Jr., represented the seller, Kennedy Funding. Situs' Rodney Lerner represented the buyer.
SAN ANTONIO — Aviat Networks has signed a lease for 23,293 square feet of office space at Network Crossing, which is located at 5250 Prue Road in San Antonio. The company previously sold its San Antonio facility, which was located in University Business Park. Keith Zimmerman of UGL Equis represented Aviat in lease negotiations. Russell Noll and Kelly Ralston of Transwestern represented the landlord, TDC Prue Road LP.
HOUSTON — Houston-based Q10 Kinghorn, Driver, Hough & Co. has arranged a $2.5 million loan for the refinancing of a 64,086-square-foot office building located in Houston. Q10's Larry Peters arranged the deal, which consisted of refinancing a maturing CMBS loan, on behalf of the undisclosed borrower through Kansas City Life Insurance Co. Terms of the loan were not disclosed.
MCKINNEY — Anna's Linens has signed a lease for 10,000 square feet at Cameron Crossing, which is located at the intersection of highways 380 and 75 in McKinney. David Levinson of The Retail Connection represented the landlord, Covington Cameron Acquisition LLC. Marc Marracco Of The Weitzman Group assisted in the deal.
FARMERS BRANCH, TEXAS — Furniture company Weir's Furniture Village has acquired a 416,000-square-foot industrial property in the Dallas suburb of Farmers Branch that will serve as its new headquarters. The building is located on 16.11 acres at 4800 Spring Valley Road. It will house Weir's headquarters offices, distribution center and retail outlet store. The company will be relocating its current distribution center, which is located near the interchange of Stemmons Freeway and Mockingbird Lane in Dallas, to the new building. Tom Pearson and Chris Teesdale of Colliers International represented Weir's in the deal. Steve Berger and Dave Anderson of CB Richard Ellis represented the seller, Worldcolor, which was also the building's former occupant.
DALLAS — Marcus & Millichap has brokered the sale of West Amherst Circle, a 44-unit apartment community in Dallas. Located at 5419 W. Amherst Circle, the community was 90 percent occupied at the time of the sale. Michael Ware, Will Jarnagin and Norman Eastwood of Marcus & Millichap's Dallas office represented the seller, a court-appointed receiver. The buyer's name was not released.
HOUSTON — Walton Street Capital has put Houston's Galleria Office Towers on the market for sale. The three Class A buildings contain approximately 1.1 million square feet of space and are currently 90 percent occupied. The buildings are connected to the Galleria mixed-use development, which also contains 2.3 million square feet of retail space and two Westin hotels. Robert Williamson of the Houston office of Holliday Fenoglio Fowler will lead the brokerage team on behalf of Walton Street. The properties are being offered without an asking price free and clear of debt.
FRISCO — Dallas-based Integral Real Estate Services will break ground today on the 245,000-square-foot Hickory Center at Preston in Frisco. Located at Preston Road and Gary Burns Drive, the regional shopping center is anchored by a 185,000-square-foot Walmart. Scheduled to open in summer 2011, this will be the second Walmart in Frisco
ARLINGTON — The 37,124-square-foot Regions Bank that is within walking distance of Dallas Cowboys Stadium sold. Vincent Knapp of Marcus & Millichap facilitated the sale between the seller, a limited partnership, and an all-cash 1031 exchange buyer.
HOUSTON — Energy Crossing, a 239,166-square-foot, Class A Houston office building has sold to Lincoln Property Co., on behalf of a public pension fund client for an undisclosed amount. M&I Bank sold the property and was represented by Holliday Fenoglio Fowler's Dan Miller, real estate analyst Trent Agnew, and Adam Jackson and Stewart Lyman of Stream Realty Partners. Located in Houston's Energy Corridor submarket, Energy Crossing was completed in 2009 and has six floors of office space plus a four-story, 900-space parking garage.