COPPELL, TEXAS — Duke Realty Corp. has leased 144,019 square feet within its Freeport North Industrial Park in Coppell to Concote Corp. The manufacturer and distributor of packaging and custom fabrication will occupy space within the 559,582-square-foot Freeport IX building, which is located at 600 Freeport Pkwy. The building features 32-foot clear ceiling heights, 43-foot by 58-foor column spacing and 60-foot staging bays. This lease brings occupancy at the building to 80 percent. Tom McCarthy and Paul Whitman of Jones Lang LaSalle represented Concote in lease negotiations. Randy Wood provided in-house representation for Duke.
HOUSTON — Marcus & Millichap has completed the sale of an industrial property located in Houston. The 15,238-square-foot building is situated on 1 acre at 11611 Bissonnet St. in Houston. Joshua Lass-Sughrue of Marcus & Millichap's Houston office represented the seller, a Hawaii-based private investor. Justin Miller, also of the firm's Houston office, represented the buyer, a Texas-based private investor.
HOUSTON — Weingarten Realty Investors has disposed of two industrial service centers in Houston totaling 383,782 square feet. In the first transaction, Weingarten sold Central Park Northwest, an eight-building flex complex situated on more than 18 acres at 2200-2502 Central Pkwy. and 4930 Dacoma. The complex contains a total of 283,182 square feet and was 81 percent leased at the time of closing. Rusty Tamlyn of Holliday Fenoglio Fowler represented Weingarten. The buyer was CC Realty Advisors. In the second deal, Weingarten sold a 100,600-square-foot service center located on 5.6 acres on TC Jester Boulevard, near Loop 610. Occupancy was approximately 90 percent at the time of closing. David Boyd of Boyd Commercial Real Estate Services represented Weingarten in the sale. Karen Stumbough represented the buyer, Jester Plaza, Ltd. The acquisition price in both transactions was not disclosed.
Oklahoma City and Edmond, Okla. — Walker & Dunlop has secured $43.98 million in acquisition financing for a three-property apartment portfolio in Oklahoma. The portfolio includes two properties in Oklahoma City, the 368-unit Watersedge Apartments and the 157-unit Gardens at Reding Apartments, and one in Edmond, the 488-unit Oxford Oaks Apartments. Occupancy for the communities averaged 94 percent at the time of closing. Jeff Jones led the Walker & Dunlop team that originated the financing through HUD's Section 223(f) program. Terms of the financing include a 2-year lock-out and a 35-year amortization schedule.
HOUSTON — Arbor Commercial Funding has arranged $3.78 million in FHA 223(f) financing for Crown Gardens, a 164-unit apartment community located in Houston. The loan carries a 35- year term and amortization schedule as well as a 5.5 percent note rate. It was originated by Jay Porterfield of Arbor's Plano, Texas, office. The borrower was not disclosed.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has brokered the acquisition of a nine-property self-storage portfolio in Texas. The portfolio contains five properties located in Houston, two in Dallas, and one each in Austin and San Antonio. All of the properties were built between 1994 and 1998. The portfolio totals more than 5,300 units and 551,609 square feet. Aaron Swerdlin and Doug McCarron of HFF represented the undisclosed seller. The buyer was Chicago-based Harrison Street Real Estate Capital. The purchase price was not disclosed but the portfolio listed for $71 million.
CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of Josey Lane Medical Office, a 21,390-square-foot medical office building located in Carrollton. The single-story property was constructed in 2004; it is situated on 1.9 acres at 4532 N. Josey Lane. It was 68 percent vacant at the time of closing, but the buyer, an owner/user, plans to open a new oncology clinic and surgery center at the building. Ron Hebert and Will Balthrope of Marcus & Millichap's Dallas office represented the seller, a court-appointed receiver. The purchase price was not disclosed.
GARLAND, TEXAS — Dallas-based Bradford Commercial Real Estate Services / CORFAC International has brokered the sale of a 15,000-square-foot flex building located at 11531 Chairman Dr. in Garland. Chris Stout of Bradford represented the buyer, Pinkerton Sales. Jerry Smith of Capital Property Advisors represented the seller, Steedly Sotsky. The acquisition price was not released.
DALLAS — Marcus & Millichap has brokered the sale of La Sierra Medical Office, a 58,497-square-foot medical office building located in Dallas. The Class B property is situated on 1.04 acres at 5445 La Sierra Dr. and was constructed in 1983. Patrick Giles and Craig Lewin of Marcus & Millichap's Dallas office represented the seller, a private investor. Cyrus Raofpur of Trans-Atlas Realty represented the California-based buyer. The acquisition price was not disclosed.
HOUSTON — Atlanta-based Apartment Realty Advisors (ARA) has negotiated the sale of an improved 5.18-acre site located in Houston. The parcel, which fronts North MacGregor Way and Sampson Street, was previously intended for multifamily development, but, as a result of hurricane damage it sustained in 2008, the seller decided to re-market the property as a land parcel with a prime location near Texas Medical Center. Tim Dosch and David Marshall of ARA represented the seller, New York City-based GFI Capital Resources Group. The buyer, a locally based nonprofit organization, has not announced its future plans for the site.