AUSTIN, TEXAS — PS Business Parks has purchased a 704,000-square-foot industrial portfolio from an undisclosed party for $42.9 million. The 13-building portfolio is divided among three business parks in Austin. The warehouses are 88.1 percent leased.
IRVING, TEXAS — The General Services Administration has leased 30,000 square feet of flex office space at Parc 114, which will encompass 600,000 square feet when completed. Construction of the property, which borders the DFW International Airport in Irving, began in March and will wrap up in December. The GSA's 15-year lease is the first deal signed at the property, which is a joint venture between Jackson-Shaw and ORIX Real Estate Capital. Chris Jackson, Bob Hagewood and Blake Kendrick of Stream Realty brokered the lease.
ARLINGTON, TEXAS — Madera Equity has purchased the 300-unit Chatham Creek apartment complex from a Dallas-based non-profit organization for an undisclosed amount. The Class B property is located at 2505 Thomason Circle in Arlington. Will Tolliver of Marcus & Millichap's Dallas office represented the buyer. The firm's Nick Fluellen represented the seller.
HARLINGEN, TEXAS — Terry Ray Construction has broken ground on a $5 million expansion to Tyco Flow Control's Harlingen facility, which will add 33,000 square feet to the 80,000-square-foot property. The property is located in the Harlingen Industrial Park on Industrial Way. Tyco has been working since January 2009 to consolidate two existing plants into the facility, which will house 65 new jobs on top of its existing workforce of 120. The Harlingen Economic Development Corp. worked to secure the expansion.
NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of the 100-unit River Park apartment complex between two undisclosed limited liability companies. The property is located on 4.62 acres at 241 Seville Drive in New Braunfels. River Park, which was built in 1972, features a swimming pool. Ryan Epstein and Todd Sherrer of Marcus & Millichap's Austin, Texas, office brokered the sale.
HOUSTON — CHB America has purchased a 3-acre tract from SCO Oil for the new 20,000-square-foot U.S. headquarters of Chipolbrok, a shipping company. The land is located in the Interwood business park on Heathrow Forest Parkway in Houston. Southwest Realty Advisors' Marc Drumwright and Nick Miller represented SCO Oil.
FRISCO, TEXAS — Teachers Insurance and Annuity Association of America has leased 32,746 square feet to buybuyBaby in South Frisco Village. The property is located at 2300 Preston Road in Frisco. Steve Lieberman and David Fazio of The Retail Connection represented buybuyBaby. CB Richard Ellis' Jeff Kittleson represented the landlord.
HOUSTON — Regency Centers has sold the 103,000-square-foot Memorial Collection Shopping Center to Westwood Financial Corp. for an undisclosed amount. The 11-acre property is located at the intersection of Memorial Drive and Dairy Ashford Street in Houston. The center is 96 percent leased by tenants including Randalls and Walgreens. Grubb & Ellis represented Regency Centers in the deal. Westwood Financial Corp. represented itself.
HOUSTON — Asset Plus Cos. and the Fred and Mabel Parks Youth Ranch, a not-for-profit 501(c)3, has broken ground on the Youth Ranch Teenage Homeless Shelter in Houston. The property will deliver in September. The facility will offer shelter to children ages 12 to 17 who are looking for a temporary home. Funding for the project is being provided by a number of grants and private sources.
SAN ANTONIO — Kohl's Department Stores has signed a 102,000-square-foot lease with Myers & Crow for the Westover Office Center I in San Antonio. The two-story property is located at 10000 Rogers Road. Kohl's expects to employ more than 1,000 workers at the property within 3 years. Stephen C. Hall of Dallas-based GVA Cawley brokered the deal.