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.
HOUSTON — Grubb & Ellis has arranged a sublease for 53,232 square feet at Wedge Tower, an office building located at 1415 Louisiana St. in downtown Houston. The subtenant, Eagle Rock Energy Partners, will be relocating from its Houston location at 16701 Greenspoint Dr. The sublessor is Dominion Exploration & Production. Jim Arket and Mona Williams of Grubb & Ellis represented Dominion in negotiations. Joe Peddie, David Guion and Hugh Hermann of Cushman & Wakefield represented Eagle Rock. Terms of the lease were not disclosed.
DALLAS — Marcus & Millichap has completed the sale of Villas at Montierra, a 357-unit apartment community located in Dallas. The property is located at 1721 John West Rd. It was built in 1984 and renovated in 2007. Nick Fluellen and Will Tolliver of Marcus & Millichap's Dallas office represented the seller, The Bascom Group. George Miller of Marcus & Millichap's Seattle office represented the buyer, a California-based private investor. Alex Inman of the Dallas office of Marcus & Millichap Capital Corp. arranged financing for the acquisition. The purchase price was not disclosed.
SAN ANTONIO — Arbor Commercial Funding has arranged $2.71 million in Fannie Mae DUS financing for Acadia Place Apartments, a 140-unit multifamily community located in San Antonio. The loan, which will be used to refinance the property, carries a 10-year term, a 30-year amortization schedule and a 6.11 percent interest rate. Jay Porterfield of Arbor's Plano, Texas, office originated the loan.
LUMBERTON, TEXAS — Hunington Properties has brokered the sale of a CVS/pharmacy located in Lumberton. The 11,945-square-foot building is situated on a 62,421-square-foot land parcel at 10 South LHS Dr. Sandy Aron of Hunington Properties represented the seller, Old Westheimer Pharmacy, Ltd. Wu 1979 Trust, a California-based family trust, purchased the pharmacy for an undisclosed amount.
IRVING, TEXAS — Universal Technical Institute has purchased Regent Office Center, a two-story, 108,800-square-foot office building located at 5151 Regent Blvd. in Irving. Josh White and Rob Kingsbury of Jones Lang LaSalle represented the buyer. Richard Crow and Marc Myers provided in-house representation on behalf of the seller and developer of the property, Myers Crow Co. The acquisition price was not disclosed.