AUSTIN, TEXAS — ATCO Advisory Services has acquired The Shops at 360, the retail component of Austin's 360 high-rise condominium tower. The space totals approximately 14,000 square feet and comprises nine retail spaces situated on the building's ground floor. All but one of the spaces are occupied by a tenant roster that includes Garrido's Restaurant, Royal Blue Grocery, Optique, Lora Reynolds Gallery, Thundercloud Sandwiches, Yummy Yo, Blu Café and Mulberry Bistro. The purchase also included 24 paid parking spaces for condo owners directly above the retail shops. The seller and the acquisition price were not disclosed.
HOUSTON — A 33,862-square-foot Family Thrift Center has opened at Sharpstown Plaza in Houston. The center is located on Bellaire Boulvard, across from Sharpstown Mall. Ronnie Turboff of Prime Capital Corp. represented Family Thrift Center in lease negotiations. Mike Partners provided in-house representation for Centro Properties Group, the owner of Sharpstown Plaza.
HOUSTON — The Houston office of Turner Construction Co. has been selected by the Archdiocese of Galveston-Houston to construct a new church in Houston. Our Lady of Lourdes Catholic Church will be located at the intersection of Highway 290 and Fairbanks Road. The 18,000-square-foot building will be constructed of king-sized brick and cast-iron, and it will be topped off with three copper-shingled spires. Interior work includes vaulted ceilings with acoustical soundproofing, glass fiber-reinforced gypsum columns, and marble stone and red oak wood trim. The new church will be able to accommodate more than 1,200 worshipers. Jackson & Ryan Architects is designing the project. Completion is slated for May 2010.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Fielder Terrace Shopping Center, a 32,450-square-foot retail property located in Arlington. Situated at 1300 W. Arkansas Lane, the center was 90 percent leased at the time of closing. Marcus & Millichap's Dallas office negotiated the deal on behalf of the seller, a private investor. The buyer was also a private investor. The acquisition price was not released.
DALLAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $22.6 million loan for the refinancing of Lincoln Park, a 148,806-square-foot retail center located in Dallas. The center is situated at the corner of West Northwest Highway and North Central Expressway, across from NorthPark Mall. The center is anchored by a Tom Thumb supermarket; additional tenants include The Cheesecake Factory, The Container Store and Barnes & Noble. Occupancy was 98 percent at the time of closing. HFF's Kevin MacKenzie and Trey Morsbach arranged the loan, which carries a 5-year term and a fixed interest rate, on behalf of the borrower, a joint venture between a Inland Western REIT and a client of Invesco Real Estate. The lender was not disclosed.
ALLEN, TEXAS — The first building of a new office condominium park located in Allen has been completed and sold. Watters Creek Professional, which is located along Watters Road, consists of three small condo buildings suitable for professional or medical office uses. The first building, a 3,500-square-foot structure situated at 614 Watters Rd., was acquired by Dr. Jacqueline Le. The site is approved for two additional buildings totaling approximately 3,000 square feet or more each. Matt Anding of Henry S. Miller Brokerage represented the seller, KRG-Barklay, along with the buyer. The acquisition price was not disclosed.
HOUSTON — Southwestern Energy Co. has signed a lease for approximately 101,000 square feet at One Commerce Green, an office building located at 515 W. Greens Rd. in Houston. Lispah Hogan of Newmark Knight Frank represented the tenant in lease negotiations. Moody Rambin Interests represented the landlord, Parkway Properties LP. Terms of the lease were not disclosed.
DEER PARK, TEXAS — CB Richard Ellis (CBRE) has arranged the sale of a freestanding 5,860-square-foot retail building located at 1601 Center St. in Deer Park. Matt Keener, Russell Janicek and Mark Raines of CBRE represented the buyer, IBERIABANK FSB, a subsdiary of IBERIABANK Corp. Rod Scarborough of Rod Scarborough Properties represented the seller, Wells Fargo.
DALLAS AND MAGNOLIA, TEXAS — Marcus & Millichap has brokered two Texas retail sales. In the first transaction, Philip Levy and Jason Vitorino of Marcus & Millichap's Dallas office represented a private partnership in the sale of a Chase Bank ground lease in Dallas. The 1.12-acre lot is located at 15202 Montfort Drive and contains a 4,282 net leased bank branch building. The buyer's name was not released. The second transaction involved the sale of a 2,867-square-foot Jack in the Box located at 6734 FM 1488 in Magnolia. The property is situated on 0.97 acres and was constructed in 2001. Edward Benton and Todd Carlson of Marcus & Millichap's Houston office represented the seller, a private investor. Drew Wetherholt of Marcus & Millichap's Ontario, Calif., office represented the buyer, also a private investor. The property traded for $1.7 million.
TEXAS — Chicago-based Harrison Street Real Estate Capital has acquired a nine-property self-storage portfolio located in Texas. The portfolio totals 536,000 square feet and 5,300 units. Five of the properties are located in the Houston area, and the remaining four properties are located in Austin, Dallas, Plano and San Antonio. Harrison Street plans to rebrand each of the facilities as Morningstar Mini-Storage. They will be managed by one of the company's affiliates, Matthews, N.C.-based Morningstar Properties LLC. With this acquisition, Harrison Street increased the size of its self-storage portfolio to 74 properties in 16 states totaling 47,000 units.