Texas

GRANITE SELLS PORT OF HOUSTON PROPERTIES, DIVESTS INDUSTRIAL HOLDINGS

by admin January 5, 2011

HOUSTON — Granite Properties has sold two of its Port of Houston industrial properties, the 356,000-square-foot Barbour's Cut Business Park and the 226,240-square-foot Bayport Container Terminal, to Duke Realty. The properties are part of a larger 15-property industrial portfolio Holliday Fenoglio Fowler (HFF) is marketing on behalf of Granite as it divests its industrial holdings to focus on office acquisitions. Barbour's Cut Business Park and Bayport Container Terminal are fully leased to Gulf Winds International with more than 10 years remaining on the lease. Rusty Tamlyn and Trent Agnew of HFF represented Granite in the sale.

January 5, 2011

SAN ANTONIO'S PASEO POINTE SELLS

by admin January 5, 2011

SAN ANTONIO — Paseo Pointe, a 252-unit multifamily property located at 3787 Perrin Central Blvd. in San Antonio, has changed hands. Built in 2003, it consists of 144 one-bedroom, 84 two-bedroom and 24 three-bedroom units. Amenities include carports, garages, a pool and a fitness center. San Antonio-based Perrin Oaks I, Ltd. sold the property to Austin-based Sendera SA Investments, L.P. Mike Miller and Will Caruth of Hendricks & Partners' San Antonio office represented both parties.

January 5, 2011

Retail Texas

FOUR CORNERS SHOPPING CENTER SELLS IN AUSTIN

by admin January 5, 2011

AUSTIN — Four Corners Shopping Center, a 31,556-square-foot retail property located at 111 W. William Cannon Dr. in Austin, has sold. James Bell of Marcus & Millichap's Houston office represented both the buyer and seller, both undisclosed partnerships, in the transaction. Four Corners Shopping Center is 100 percent occupied.

January 5, 2011

Retail Texas

WHIT HANKS' 500 LAMAR SELLS IN AUSTIN

by admin January 4, 2011

AUSTIN — Whit Hanks Properties' 500 Lamar, a multi-tenant Class A retail property that sits on one acre of land directly across Lamar Boulevard from Whole Foods Market headquarters at the intersection of North Lamar Boulevard and West Fifth Street in Austin, has sold to a Houston-based institutional investor. CB Richard Ellis' Walter Saad and Cathy Nabours represented the seller. The property is 100 percent leased.

January 4, 2011

Seniors Housing Texas

ENSIGN GROUP ACQUIRES TWO SENIOR HOUSING FACILITIES

by admin January 4, 2011

ABILENE — The Ensign Group has acquired Wisteria Place, a continuing care retirement community, and its sister facility, Wisteria Independent Living, both in Abilene. The facilities will be operated by a subsidiary of Keystone Care, Ensign's Texas-based portfolio subsidiary. Wisteria Place is a full-service care campus located at 3202 S. Willis St. in Abilene that operates 123 skilled nursing beds, 77 assisted living units and 20 independent living cottages. Wisteria Independent Living is located at 3917 Wisteria Way in Abilene and operates 72 independent living units.

January 4, 2011

Industrial Texas

FLORIDA CHEMICAL PURCHASES 39,000 SF DISTRIBUTION BUILDING

by admin January 4, 2011

HOUSTON — Florida Chemical, a citrus industry company, has purchased a 39,086-square-foot warehouse and distribution building located at 19914 GH Cir. in northwest Houston. Bill Rudolf and Gray Gilbert of CB Richard Ellis represented Florida Chemical, while John Nicholson and Doug Nicholson of Grubb & Ellis represented the seller, PPG Architectural Finishes.

January 4, 2011

Industrial Texas

KANSAS CITY SOUTHERN RAILWAY PURCHASES 28 ACRES

by admin January 3, 2011

WYLIE – Kansas City Southern (KCS) Railway Co. has purchased 28.3 acres of land in the northeast quadrant of Spring Creek Parkway and Centennial Drive in Wylie. It is the last remaining tract of land zoned for heavy industrial around KCS Railway’s existing rail yard, in which it will be incorporated. Pooran, L.P., sold the property and was represented by Tom Grunnah of Henry S. Miller Brokerage. Andrew Ward and Terry Darrow of Jones Lang LaSalle represented KCS Railway.

January 3, 2011

Multifamily Texas

PLANO MULTIFAMILY GRABS $28 MILLION ACQUISITION LOAN

by admin January 3, 2011

PLANO – Atlanta-based Centennial Holding Co. has received a $28 million acquisition loan for Century Legacy Village, a 328-unit Class A multifamily property offering one-, two- and three-bedroom units in Plano. Amenities include a clubhouse, a business center, a fitness center, a resort-style pool and controlled access gates. Walker & Dunlop provided the loan, which is structured with a 10-year term with 2 years interest only and a 30-year amortization, by utilizing Fannie Mae’s DUS product. Century Legacy Village is 98 percent occupied.

January 3, 2011

Office Texas

ARAPAHO GARDENS OFFICE SELLS IN RICHARDSON

by admin January 3, 2011

RICHARDSON – Arapaho Gardens, a 38,218-square-foot office property located at 1121-1149 Rockingham Ln. in Richardson has changed hands. An Iowa-based private investor sold the property to a Dallas-based owner/user and limited liability company. The institutionally owned property is approximately 69 percent occupied. It consists of four one- and two-story buildings on the corner of Arapaho Road and Rockingham Lane, approximately three-fourths of a mile west of North Central Expressway. Ron Hebert of Marcus & Millichap’s Dallas office represented the seller.

January 3, 2011

Multifamily Texas

GREYSTAR TO BUILD GARDEN APTS IN GROGAN'S MILL

by admin December 23, 2010

THE WOODLANDS — Greystar Real Estate Partners has purchased a 12.4-acre site in the Village of Grogan's Mill in The Woodlands for construction of a three-story, 300-unit upscale garden apartment community. Construction is set to begin in spring 2011 with the opening scheduled for early 2012. The project's architect is Meeks + Partners Architects and Greystar Development & Construction, L.P., is serving as its general contractor.

December 23, 2010

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