FORTH WORTH, TEXAS — Orix Capital Markets has sold the 264-unit The Hills apartment complex to G8 Forth Worth of Delaware for an undisclosed amount. The property is located at 3101 W. Normandale St. in Forth Worth. Tom Burns and Jay Gunn of Hendricks & Partners' Dallas office represented the seller.
Texas
HOUSTON — Phoenix of Texas has signed a 66,000-square-foot lease with Cobalt Industrial REIT II for space in the Sugarland Business Park. The 315,8310-square-foot industrial campus is located on W. Airport Blvd. in Houston. Transwestern's Jude Filippone represented the landlord. Cushman & Wakefield's Beau Kaleel represented the tenant.
CARROLLTON, TEXAS — Product Innovations Research has signed a 58,678-square-foot warehouse lease renewal with Acquiport DFWIP in Carrollton. The property is located in the Venture Distribution property at 1207 Trend Drive. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord. CB Richard Ellis' Nathan Lawrence represented the tenant.
LUBBOCK, TEXAS — CJ Development has obtained an $18.4 million construction loan for the 208-unit Windsor Creek Apartments in Lubbock. The Federal Housing Administration funded the loan for the project, which will be designed by Humphreys and Partners. KeyBank Real Estate Capital secured the financing.
IRVING, TEXAS — Dallas-based Centric Capital Partners has purchased the 10,300-square-foot Ebby Halliday from a Richardson, Texas-based private investor for an undisclosed amount. The single-tenant, net-leased building is located at 7520 MacArthur Blvd. in Irving. Ebby Halliday was built in 1997 and is currently leased through 2016. Marcus & Millichap's Jason Vitorino and Philip Levy brokered the sale.
HOUSTON — Americal Financial TRS has sold a 4,635-square-foot property on a 0.9-acre parcel of land to Copperfield Retail for an undisclosed amount. Located at 6611 Highway 6 North in Houston, the development is leased by Amegy Bank. SRS Real Estate Partners' Rip Reynolds represented the seller.
LUBBOCK, TEXAS — Asset Plus Cos. has broken ground on the 562-bed 25Twenty student housing complex on a 3.6-acre site on the campus of Texas Tech University. The four-story property will sit adjacent to Jones AT&T Stadium. The property includes two courtyards that will feature a pool, an outdoor BBQ kitchen, a hammock area and a competition horseshoe pit. Additional amenities will include an Internet café, a business center, a theater with stadium seating, an exercise facility and tanning room, and a 9,600-square-foot clubhouse. Units will range from 571 square feet to 1,704 square feet.
LUBBOCK, TEXAS — Collegiate Construction will soon break ground on the 218-unit Retreat Lubbock at a site minutes away from Texas Tech University in Lubbock. The property is comprised of two- to five-bedroom cottages that contain a private bathroom for each bedroom. Wells Fargo Bank is providing construction debt for the $42 million project. A joint venture between Landmark Properties and Harrison Street Real Estate Capital is developing The Retreat. A fall 2011 delivery is expected.
HOUSTON — GRA-Gulf Coast Construction has broken ground on a 115,000-square-foot manufacturing facility for the wooden pallet manufacturer Neopal in Houston. The property will be located on 13 acres at the intersection of Vickery and Aldine Bender. Chris Caudill and Joel Michael of NAI Houston represented the tenant in negotiations.
HOUSTON — Marcus & Millichap has represented two private parties in the sale of the 7,232-square-foot REO: Jones Road Office Building for an undisclosed amount. The property, which was built in 1984, is located at 11850 Jones Road in Houston. The firm's Justin Miller and Nathan Pealer brokered the sale.