BORDEN COUNTY — Houston-based Eagle Ford Oil & Gas Corp. has signed a letter of intent for the acquisition of a 25 percent non-operated working interest in a 5,990-acre lease position in Borden County with plans to drill two wells to test the productivity of the producing zones in the first quarter of 2011. The property has two oil producing formations: the Mississippian Fractured Carbonates and the Wolfberry Formation. The acreage position will support 37 additional locations.
BEAUMONT, SAN ANTONIO AND WACO — Three office buildings, each 100 percent leased to the United States government for use as social security administration facilities, have sold in Texas. Located in Beaumont, San Antonio and Waco, the closed transactions totaled approximately $15 million after an undisclosed buyer assigned the contracts to a real estate investment trust familiar with government-leased property. The Silver Group of Northern California brokered the deals.
GREENVILLE — Dallas-based Langford Property Co. has purchased a 300,000-square-foot distribution facility on 95 acres in Greenville for an undisclosed price. Located at 1001 Ed Rutherford Dr., north of Interstate 30 and west of State Highway 69, the facility is home to tenants that include Rubbermaid, Atrium Door, Rock Tenn Corp. and Lance Foods. New York-based W.P. Carey sold the property to Langford, which has plans to develop or sell the vacant land.
HOUSTON — Park on the Bayou, a 159,563-square-foot office property, has sold. Located at 2500 East T.C. Jester Blvd. in Houston, the five-story building was most recently leased to the Federal Bureau of Investigation (FBI) for more than 16 years. However, it is 100 percent vacant today. ING Clarion Partners, represented by Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler, sold it to Boxer Management Corp. for an undisclosed price.
FORT WORTH — Cook Children's Health Care System has purchased a 2,100-square-foot professional building located at 1129 6th Ave. in Fort Worth, a building that had been leased by Cook for the past 10 years. Functioning as a medical office building for Cook pediatricians, the building sits on a 5,000-square-foot parcel of land.
HOUSTON —Best Saving Supermarket has signed a 42,205-square-foot lease at Lion Square Center, an Asian community center located in Houston's International Management district. Dan Nixon and Rafael Melara represented Whitestone REIT (NYSE: WSR) as the landlord, while Kenneth Li represented Best Saving Supermarket in the lease transaction. Whitestone plans to transform Lion Square Center to an upscale, Asian-themed community center that will include new architectural and landscaping features.
DALLAS — The 2000 block of Ross Avenue, 2.21 acres bound by Ross Avenue to the north, San Jacinto Street to the south, North Olive Street to the east and North Harwood Street to the west in downtown Dallas, has been sold to TerraPark Group. A small portion on the northeast corner of the city block, the current location of Northern Trust Bank, was not included in the sale. The property, site of an existing Central Parking lot, sits adjacent to major office buildings including Trammell Crow Center and 2100 Ross, and is one of the largest remaining land sites in Dallas' central business district. John Bradley of Bradley & Bradley REALTORS represented TerraPark Group, while Mike Gosslee of Cushman & Wakefield of Texas represented the seller, a large insurance company.
TULSA, OKLA. — The LaSalle Group of Dallas will break ground this week on its first specialized Alzheimer's and Memory Care Assisted Living Community in Oklahoma, Autumn Leaves of Tulsa. Located at 7807 S. Mingo in Tulsa, the project marks the 16th venture of its kind for The LaSalle Group in the past 10 years. Nine Autumn Leaves communities are operating in the Dallas-Fort Worth market, three in the greater Chicago area and one in Houston. Autumn Leaves of Tulsa is scheduled to be completed by fall 2011. The property will feature 38 units and accommodate approximately 46 residents.
MESQUITE — Tipp Distributors, dba Novamex, a food distributor specializing in Mexican and Central American products, has signed a 144,000-square-foot lease at 4401 Samuell Blvd. in the Mesquite Business Center in Mesquite. Trace Elrod and Tommy Newton of JacksonCooksey represented Novamex in the 11-year lease, while Jeff Jackson and Bob Hagewood of Stream Realty's Dallas office represented the owner, Exeter Property Group.
COPPELL — Duke Realty Corp.'s Dallas office has entered into a long-term lease agreement with SP Richards Co. for 212,776 square feet in its Freeport VII building, a 383,925-square-foot warehouse and distribution building in Coppell. SP Richards is an office supplies and furniture distributor that will consolidate 130,324 square feet it currently has in two distribution facilities in Carrollton into Freeport VII, and will lease an additional 82,450 square feet in the building to meet its expanding space needs. Freeport VII, located at 631 S. Royal Ln., is 55.4 percent occupied. Randy Wood represented Duke Realty in house.