SAN ANTONIO — Financial Federal has secured a $19.5 million loan for the private owner of a San Antonio apartment complex. The 400-unit property was built in 2008. The 10-year loan carries a 2-year window of interest-only payments and a 30-year amortization schedule.
SAN ANTONIO — University of Phoenix has signed a 20,000-square-foot lease with Houston-based Whitestone REIT for space in the Windsor Park Shopping Center. The 192,458-square-foot property is located at 8600 Fourwinds Drive in San Antonio. It is currently 85 percent leased. Larry Mendez and Charlie Weil of Transwestern's San Antonio office represented the landlord. Michael Griffin of the firm's Dallas office represented the tenant.
DALLAS — RHR International has sold an 8,330-square-foot office building in Dallas to a private buyer for an undisclosed price. Situated in the Georgetown Office Park, the property is located at 17766 Preston Road. The Colliers Ownership Advisory Group represented the seller, who also previously occupied the property.
DALLAS — Argent Property Co. has sold its newly completed 82,130-square-foot Rexel Worldwide warehouse to a private party for an undisclosed amount. The property, which will be fully occupied by Rexel, is located at the intersection of Frankford Road and Commodore Drive in Dallas' Frankford Trade Center. Joe Garrett and Tom Pearson of Colliers International brokered the sale.
FRISCO, TEXAS — North American Development Group has purchased 22 acres of land for a future shopping center in Frisco from an undisclosed seller. The acreage is located at the southeast corner of F.M. 423 and Lebanon Road. NADG has proposed a development anchored by a 70,000-square-foot Tom Thumb Supermarket; the site will also include 24,000 square feet of inline retail space and 5 pad sites. Construction will begin this fall, and completion is expected early next summer.
DALLAS — International Electric Supply Co. has leased 92,000 square feet from Equastone in The Addison, which is located at 14951 N. Dallas Parkway in Dallas. The Class A office building was formerly Comp USA's national headquarters. Jackson Cooksey's Michael Quint and Jim Cooksey represented the tenant. Reid Caldwell and Kim Butler of Transwestern represented the landlord.
WEST COLUMBIA AND KYLE, TEXAS — Alvin Mansour and Chris Gomes of Marcus & Millichap, along with Tim Speck, have brokered the $3.86 million sale of a Walgreens between two undisclosed parties. The 13,650-square-foot property, located at 110 E. Brazos Ave. in West Columbia, is net-leased to Walgreens for the next 73 years. The Walgreens is situated near an H-E-B Grocery, a Walmart and a Wells Fargo. Mansour, Gomes and Speck also brokered the sale of a 4,000-square-foot corporate Jack in the Box for $1.2 million. The property is located at the interchange of FM 1626 and IH 35 in Kyle. The tenant's 20-year, NNN-lease carries 10 percent rent increases every 5 years.
DALLAS — Synnex Corp. has signed a lease expansion and renewal totaling 80,000 square feet with an undisclosed landlord. The industrial property is located at 660 N. Dorothy Drive in Dallas. CB Richard Ellis Realty Trust brokered the 5-year lease.
MCALLEN, TEXAS — An undisclosed developer has sold an 88,248-square-foot Kohl's department store to a private buyer for $7.3 million. The property, which is leased by the tenant for the next 20 years, is located in Trenton Crossing at 7900 N. 10th St. in McAllen. Kohl's lease is broken into six, 5-year options, which each carry a 5 percent rent increase. Trenton Crossing also houses Old Navy, Office Max, Best Buy and Ross Dress for Less. Alvin Mansour and Chris Gomes of Marcus & Millichap brokered the same with Tim Speck's assistance.
SAN ANTONIO — San Antonio-based USAA Real Estate Co. has formed a partnership with the Crimson Real Estate Fund LP, creating a fund led by Crimson's Dean Patrinely and Leonard O'Donnell. The fund will target office, resort hospitality and mixed-use properties. The companies will obtain interests in developments through joint ventures, direct acquisition and preferred equity investments in existing ventures.