HARLINGEN, TEXAS — Bass Pro Shops is planning to open a new store, which will span between 130,000 and 150,000 square feet, in Harlingen during the second or third quarter of 2011. The property will serve as an anchor for the Cameron Crossing shopping center, which will be located at the intersection of U.S. Expressways 83 and 77. The Harlingen City Commission, the Harlingen Economic Development Corp. and Cameron Crossing's developers worked for more than 2 years to bring Bass Pro Shops to the project.
Texas
LEWISVILLE, TEXAS — Mike Ortlip of Grandbridge Real Estate Capital's Charlotte, N.C., office has secured an $18.14 million loan for the 270-unit Alta Vista Ridge Apartments in Lewisville. The original loan was refinanced under FHA Section 223(f). The 35-year loan carries a 35-year amortization period.
MISSOURI CITY, TEXAS — The LaSalle Group will break ground May 12 on the Autumn Leaves at Riverstone assisted living facility. Located at 20313 S. University Blvd. in Missouri City, the property will focus on caring for patients stricken by Alzheimer's and other diseases that impair memory. Constant Care Management Co. will oversee day-to-day operations of the property once construction is completed.
EL PASO, TEXAS — Brian Parmacek, Stephen Rachman, Scott Niedergang and Tim Speck of Marcus & Millichap have brokered the sale of two Big 8 Food Store properties in El Paso for a combined $7.6 million. Both stores were traded between undisclosed parties. The first store, which is located at 9480 Viscount Blvd., sold for $4.6 million. The tenant has nearly 10 years left on its lease. The second store, which is located at 3518 Montana Ave., sold for $3 million.
DALLAS — Xaevin LLC will break ground this summer on the 3-acre White Rock Crossing townhome complex in the Old Lake Highlands neighborhood of Dallas. The property will be based on the concept of co-housing in which homeowners share community land and common facilities. AndersonSargentCustom Builders will construct the house to green standards.
FARMERS BRANCH, TEXAS — Illinois-based Lawson Products has sold a 54,000-square-foot office/warehouse building to a private buyer for an undisclosed price. The property is located at 4335 N. Beltwood Parkway in Farmers Brach. Tony Gilbert of Capital Property Advisors represented the buyer. Ric Kanatzar and Adam Petrillo of Studley represented the seller.
IRVING, TEXAS — Hercules Tire has leased 60,099 square feet of industrial space from ProLogis in Irving. The property is located at 9500 N. Royal Lane. Mitch Pruitt represented ProLogis internally. Trey Fricke and Reid Bassinger of Lee & Associates represented Hercules Tire.
HOUSTON — Parkway Properties has sold the 162,909-square-foot One Park 10 Plaza to Beacon Investment Properties for an undisclosed amount. The Class A property is located at 16225 Park 10 Place in Houston. Tenants such as GGS Spectrum and J. Connor Consulting occupy 93.7 percent of the building. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler represented the seller.
HOUSTON — CONTI Organization has acquired the 176-unit Villa Ana apartment complex from Prudential for $3.4 million. The distressed asset, formerly known as Star Crossing, is located at 10101 West Sam Houston Parkway S in Houston. Villa Ana is more than 70 percent occupied. Boston Real Estate Solutions helped close the deal.
DALLAS — A court-appointed receiver has sold the 59-unit Las Palmas apartment complex to two private investors from California for an undisclosed price. The property is located at 2620 Colorado Blvd. in Dallas. Hendricks & Partners' Peter Hartnett represented the seller in the transaction.