DALLAS — CBRE Strategic Partners U.S. Value 5 has purchased four office buildings totaling nearly 725,000 square feet in Dallas from a private party for an undisclosed amount. Three buildings are in Preston Commons, which is located at 8111-8117 Preston Road, and total 421,997 square feet. Combined, the buildings are 73.7 percent leased. Located at 5949 Sherry Lane, the last building, Sterling Plaza, spans 302,747 square feet and is 82.6 percent occupied.
Texas
IRVING, TEXAS — Cushman & Wakefield has brokered the sale of two apartment properties in Irving. Plano, Texas-based QT Properties has purchased the 107-unit Brentwood Apartments from a special servicer for an undisclosed amount. The property is located at 831 S. Nursery Road. The firm's Stephannie Mower, Mart Martindale, Lamont Rattler and David Ellis represented the seller. The team, along with Ed Nwokedi, represented another special servicer in the sale of the 195-unit Woodside Villas to Vino T. Patel Real Estate for an undisclosed amount. The property, which is located at 3429 W. Rochelle Road, was built in 1969.
DALLAS — Spire Realty Group has broken ground on The Spire, a six-building mixed-use project in the Arts District of downtown Dallas. The first phase of development will include a 21-story building that will house 359,549 square feet of office space, 25,465 square feet of retail and 36 residences. The firm WDG designed the project, and Austin Commercial is acting as general contractor.
LEWISVILLE, TEXAS — CC Lewisville MOB has sold an 18,000-square-foot medical office building to a healthcare REIT for an undisclosed amount. Located at 2790 Lake Vista Drive in Lewisville, the property is fully leased to US Oncology Holdings. Coler Yoakam and Mark West of Holliday Fenoglio Fowler represented the seller in the transaction.
AUSTIN, TEXAS — The University of Texas System Board of Regents has tapped Education Realty Trust to develop a high-rise student housing community near The University of Texas at Austin campus. The property will be located on 1.43 acres of land at 600 W. 24th St. in Austin that has been leased to Education Realty Trust for 60 years. Hensel Phelps Construction Co. will built the property, which will be designed by Page Southerland Page Architects. Construction will start after a city approval process.
CLEAR LAKE, TEXAS — Weiss Realty has sold a 539-unit Safe-Keeping Self Storage facility to a subsidiary of WEDGE Real Estate Holdings for an undisclosed amount. The property is located at 900 West Nasa Parkway in Clear Lake. Aaron Swerdlin and Doug McCarron of Holliday Fenoglio Fowler represented the seller.
SPRING, TEXAS — The LaSalle Group will break ground Tuesday on Autumn Leaves of Cypresswood, a 38-unit assisted living facility. The property will be located at 6327 Cypresswood Drive in Spring. Delivery is slated for the spring of 2011.
ARLINGTON, TEXAS — H&R Block has sold a 7,192-square-foot office in Arlington to a private medical practice for an undisclosed amount. The property is located on West Green Oaks Boulevard. Colliers International's Eric Goldberg, Matt Thompson and Phil Rosenfeld along with Cassidy Turley in St. Louis represented H&R Block. The medical practice was represented by Mohr Partners.
FORT WORTH — CSFB 2003-C4 Carlton Apartments has sold the 108-unit Carlton apartment complex to G8 Capital LLC Opportunity Fund LLC for an undisclosed price. The property is located at 6301 Woodway Drive in Fort Worth. Peter Hartnett of Hendricks & Partners' Dallas office brokered the sale.
HOUSTON — Cadence McShane Construction Co. has completed the 60,000-square-foot OakBend Doctors Center – Grand Parkway. The Class A medical office building is located on 5 acres on Grand Parkway between Morton Road and Longmeadow Farms Parkway in Houston. Tenants include OakBend Emergency Room, OakBend Imaging, OakBend Medical Group, PLEX and Texas Sports Medicine Institute. Marasco & Associates and Seeberger + Associates designed the project.