SAN MARCOS, TEXAS — 1180 Thorpe Ltd. has purchased a 103,504-square-foot building from Target for an undisclosed price. The former Target store is located adjacent to Springtown Mall at 1180 Thorpe Lane in San Marcos. Target relocated its store to East McCarthy Lane last September. Epic Real Estate Ventures' Daniel Jay Holland represented the buyer. Mark Reeder and Todd Wallace of SRS Real Estate Partners represented Target.
FLOWER MOUND, TEXAS — Construction of the 41-bed Continuum Rehabilitation Hospital will officially begin April 24 at 3100 Peters Colony in Flower Mound. The property will include 41 private rooms, a spa, a gym, cold and hot immersion baths, and a restaurant. The development was created under the city's revised Economic Development Incentive policy and is expected to create 110 jobs.
GRAND PRAIRIE — JRDC Partners has acquired a 22,000-square-foot office building from G.I.T.F. for an undisclosed amount. The two-story property, located at 3340 Roy Orr Blvd. in Grand Prairie, was built in 2000 on 10.53 acres. Pete and Drew Richardson of Henry S. Miller Brokerage represented the buyer. Steve Johnson Commercial Realty's Carolyn Albert represented the seller.
SAN ANTONIO — Gibbs Master Tenant LLC has opened the 91-room Hotel Indigo San Antonio at the Alamo, the fourth Hotel Indigo property in Texas. The San Antonio hotel is located in the 100-year-old Gibbs Building, which was the first office property built in the city. While retaining its original woodwork and marble, the building was outfitted with features including a business center, a fitness center and gourmet dining options. TNJ Management will oversee day-to-day operations of the hotel.
IRVING, TEXAS — The Medve Group has signed a lease with a private landlord for the 117,000-square-foot Walnut Hill Distribution Center in the Las Colinas area of Irving. The property is located at 1411 W. Walnut Hill Lane. Capstone Commercial's Larry Robbins represented the tenant. Colliers International's Allen Gump represented the landlord.
HOUSTON — A limited partnership has sold Cinco Ranch Shopping Center to an undisclosed buyer for $1.43 million. The 6,629-square-foot property, located at 6848 Mason Road in Houston, was built on 31,601 square feet of land in 2006. James Bell of Marcus & Millichap's Houston office represented the seller.
SAGINAW, TEXAS — Cadence McShane Construction Co. will soon start construction on the 185,221-square-foot CTI Foods headquarters at 504 Sansom Blvd. in Saginaw. The property will encompass 23,968 square feet of office space and a 104,226-square-foot production area. The firm is also building 57,027 square feet of refrigerated storage. Pross Design Group provided architectural services for the project.
HOUSTON — American Spectrum Realty has sold a 101,880-square-foot office building to a private buyer for an undisclosed amount. Located at 5850 San Felipe St. in Houston, the six-story property was built in 1977 and renovated in 2004. Texas Petroleum Investment, Abby Office Centers, Legal Access Plans and other tenants lease 95 percent of the building. Victory Realty Solutions' Pamela Ngo Tranpark represented the buyer. Beth Young and Henry Hagendorf of Grubb & Ellis represented the seller.
EULESS, TEXAS — A real estate equity fund sponsored by Main Street Partners & Associates has purchased the Shadow Creek apartment complex from a private party at a significant discount to note value. The 193-unit complex, which was in foreclosure, is located in Euless. The buyer will undertake property upgrades during the next year in preparation for re-tenanting the property.
FARMERS BRANCH, TEXAS — Greenway Investment Co. has acquired the 26,418-square-foot Parkside Center retail property from a special servicer for an undisclosed amount. Located at 13881-13901 Midway Road in Farmers Branch, the two-building property houses UPS, Sport Clips and Schlotzky's Deli. Brandon Beeson, Barney McAuley, Tom Salanty and Will Walters of Cushman & Wakefield of Texas represented the seller.