HOUSTON — The Houston office of Apartment Realty Advisors (ARA) has brokered the sale of an 8.9-acre land parcel located in Houston's Heights neighborhood. The seller is a local townhome developer that previously planned to develop residences on the site. The buyer is Grace Bible Church. ARA's Tim Dosch and David Marshall represented the buyer. The acquisition price was not disclosed.
Texas
DALLAS — The Weitzman Group has arranged the sale of a 3,777-square-foot office building located at 4343 N. Central Expressway located in Dallas. The buyer is Laguarda-Low II LP, which consists of representatives of Laguarda Low Architects. The new property will be used to expand the offices of the architecture firm, which is headquartered next door. The seller is Lutz Office I LP. Greg McDonald and Eddie Liebman of The Weitzman Group handled negotiations.
GRAND PRAIRIE, TEXAS — Elyria, Ohio-based Invacare Corp. has renewed and expanded its lease at 1825 Westpark Drive in Grand Prairie. The medical equipment supplier will now occupy the entire 87,508-square-foot building for a 13-year term. The lease also includes interior upgrades to the tenant's existing office and warehouse space as well as its 43,754-square-foot expansion. Kevin Santaularia and Michael Spain of Dallas-based Bradford Commercial Real Estate Services represented the tenant. Canon Shoults of Dallas-based Holt Lunsford Commercial represented the landlord, The Realty Associations Fund VIII LP.
GRAND PRAIRIE, TEXAS — Philip Levy, Jason Vitorino and Tommy Tucker of Marcus & Millichap's Dallas office have represented a private seller in the sale of a 4,921-square-foot Christian Brothers Automotive retail property to a private buyer. Terms of the sale were not disclosed. The property is located at 2804 N.E. Green Oaks Blvd. in Grand Prairie. Built in 2006, the building is NNN-leased for 15 years. Levy and Vitorino represented the buyer.
HOUSTON —Brook Furniture Rental has leased a 22,500-square-foot property in Houston from HPF Investments. The building is located at 535 W. 38th St. Chris Caudill and Joel Michael of NAI Houston represented Brook Furniture Rental. Steve Hazel of Insite Realty Partners represented the landlord.
FRISCO, TEXAS — Jean C. Farris, a veteran of the Dallas real estate market, has retired as director of leasing for the Hall Financial Group. She was celebrated by more than 200 industry associates as she made the announcement. During her career, she has received awards from the Dallas Business Journal and has been named a North Texas Commercial Association of Realtors Commercial Division All-Star.
DALLAS — The Weitzman Group has completed the sale of the former Dillard's department store located at Southwest Center Mall in Dallas. The buyer, locally based El Rey Properties, plans to redevelop the two-story, 160,000-square-foot anchor building. Brian Glaser and Michelle Caplan of Weitzman, with assistance by Excess Space Retail Services, represented the seller, Dillard Texas LLC. Dave Valdez of ICB Properties represented the buyer. The acquisition price was not disclosed.
WILMER, TEXAS — Continental Tire has signed a lease for 287,827 square feet of industrial space at First Park Dalport, a distribution center located in Wilmer that is owned by First Industrial Realty Trust. Continental will utilize the new space as its product distribution center for the Southwest region. Robert Allen of First Industrial's Dallas office handled the transaction on behalf of the REIT, with assistance being provided by Terry Darrow, Kacy Jones and Will Wyatt of Jones Lang LaSalle. Terms of the lease were not disclosed.
HOUSTON — NAI Houston has brokered the sales of two Houston industrial properties. In the first transaction, Cisco Boilers purchased a 21,250-square-foot property located at 5935 Griggs Road. Chris Caudill and Joel Michael of NAI Houston represented the buyer. Conrad Bernard of Boyd Commercial represented the seller, CDE Corp. In the second transaction, Spearman Investments acquired a 7,000-square-foot property located at 8600 Fawn Trail. Darren O'Conor of NAI Houston represented the buyer, Spearman Investments. Josh Feinberg of J. Beard Real Estate Co. represented the seller, Caribe Properties. The acquisition prices in both transactions were undisclosed.
NASSAU BAY, TEXAS — Griffin Partners has broken ground for the first retail component of Nassau Bay Town Square, a 31-acre mixed-use project located across from Johnson Space Center in Nassau Bay. The first retail phase consists of 24,000 square feet located at the corner of Space Park Drive and Saturn Lane. It will be shell-ready by the end of May. Last month, Martin Fein Interests opened the first phase of Voyager Apartments at the Space Center, the multifamily component of the project. At full-build-out, the community will feature 313 luxury units as well as a fitness center, a business center and a resort-style pool. In addition to the multifamily community, Nassau Bay Town Square will include three office buildings totaling up to 600,000 square feet of space, a 176-room Marriott hotel, a total of 73,000 square feet of retail space, a 27,000-square-foot conference center and the new Nassau Bay City Hall.