HOUSTON — Northchase Plaza II, an 11,407-square-foot retail center in Houston, has sold for $1.3 million. Located at 13630 Veterans Memorial Dr., the property was built in 2004 and is 100 percent leased to five tenants. James Bell of Marcus & Millichap represented the seller, a Texas partnership, while Justin Miller of Marcus & Millichap represented the buyer, a limited liability company.
Texas
GRAND PRAIRIE — Evolution Packaging, a fulfillment and packaging services company, has signed a 51,200-square-foot lease in the Trinity West Business Park located at 2450 and 2550 114th St. in Grand Prairie. The 140,900-square-foot industrial park offers close proximity to DFW International Airport and access to State Highway 360. Mark Hull and Brett Heinen of Henry S. Miller Brokerage represented Evolution Packaging, while Jim Ferris and Michael Spain of Bradford Co. represented the landlord.
PEARLAND — Delta Rigging & Tools has relocated its headquarters to the Shadow Creek Business Center in Pearland as it will take 7,800 square feet of Class A office space in December. Delta provides lifting products and services to the large and fragmented domestic lifting equipment and rigging industry, including hoists, winches, wire rope, synthetic slings, accessories and hardware. It serves a national footprint with a primary strength throughout the Texas Gulf Coast, Louisiana and the Rocky Mountains. Delta is relocating from its offices in Lake Jackson.
SAN ANTONIO — The first development parcel of the planned 2,400-home, 610-acre Luckey Ranch project, located at Loop 1604 North and Highway 90 in San Antonio, has sold. The Kalikow Group, on behalf of KEP Luckey Ranch Global Associates, sold the 93-acre parcel to LGI Homes and GTIS Partners for an undisclosed amount. The Luckey Ranch site consists of 539 acres slated for residential development as well as 71 acres zoned for commercial use.
ARLINGTON — Assured Self Storage has acquired 4.49 acres of land at the northeast corner of U.S. Highway 287 and Turner Warnell Road in Arlington for the construction of a third Assured Self Storage in Arlington. Shawn Valk of Assured Realty represented the self storage company in the acquisition, and Pete Richardson and Andrew Richardson of Henry S. Miller Brokerage represented the seller, Bill Rose of Rose Investments. It will be Assured Self Storage's 23rd location in the Dallas-Fort Worth metroplex.
CEDAR HILL AND AUSTIN — Toys R Us leased 34,521 square feet of retail space at 1382 S FM 362 in Cedar Hill from KRG Cedar Hill Plaza LP. David Copeland and Jeff Kittleson of CB Richard Ellis (CBRE) represented the landlord in the transaction. In addition, World Wide Technology has renewed its 68,040-square-foot industrial lease at 4616 W. Howard Ln. in Austin from NorthTech 5 & 6, Ltd. Ryan Keiser of CBRE represented the tenant in the transaction.
FORT WORTH — Westover Village, a 114,000-square-foot shopping center located at the southeast corner of SH 183 and Green Oaks Road in Fort Worth, has been sold to ArrowRock Westover Village LP, an investment fund owned and managed by St. Louis-based Summit Realty Ventures, for an undisclosed amount. Amegy Bank of Texas sold the property, which includes national tenants such as Petco, Party City, Half Price Books, JPMorgan Chase, Arby's and McDonald's, in an all-cash transaction. Read King represented the buyer and Holliday Fenoglio Fowler represented the seller. UCR ChainLinks Retail Advisors will market and lease the property for the new owner.
OKLAHOMA CITY, OKLA. — CBL & Associates Properties has formed a joint venture with Horizon Group Properties to develop The Outlet Shoppes at Oklahoma City, located on 65 acres at the intersection of Interstate 40 and Council Road in Oklahoma City. The 350,000-square-foot retail project is currently under construction and is expected to be completed in late summer 2011. Horizon is responsible for the leasing and management of the property, which is already 80 percent leased with tenants such as Saks Fifth Avenue Off 5th, Nike, Tommy Hilfiger, Banana Republic, J. Crew, Brooks Brothers, Coach and Guess. U.S. Bank committed a $48.9 million construction loan to the project with an initial term of 3 years with two 1-year extension options.
CORPUS CHRISTI — Clarkwood Industrial Park LLC has sold the former Celanese Technical Center to Double T&C Properties for an undisclosed amount in Corpus Christi. Located between Clarkwood Road and Rand Morgan, the property includes more than 200,000 square feet of office, warehouse and laboratory space in 11 buildings on more than 100 acres. Josh Gaines of NAI Cravey Real Estate Services represented the seller.
THE WOODLANDS — USAA Real Estate Co. has sold Boardwalk at Town Center to MEPT, a real estate equity fund that was advised by Kennedy Associates, for an undisclosed price. Located on Riva Row in The Woodlands, Boardwalk at Town Center was developed by USAA, in partnership with Houston-based Cambridge Development Group, from 2005 to 2008. The property consists of 450 premium apartments, and it will continue to be managed by Greystar Real Estate Partners. Will Balthrope and Ryan Epstein of Balthrope Group of Institutional Property Advisors, a Marcus & Millichap company, represented USAA in the transaction.