ARDMORE, OKLA. — Ardmore Business Park LLC has sold a 441,664-square-foot Best Buy Distribution center in Ardmore to Flanders Precisionaire for an estimated $7 million. The property was constructed in 1991. Best Buy vacated the facility to move into a new warehouse elsewhere in the city. Lee & Associates' Reid Bassinger and Trey Fricke represented the seller.
THE WOODLANDS, TEXAS — Dhukani Properties has purchased 2.5 acres of land from The Woodlands Development Co. for a future retail center. No development schedule has been set for the land, which is located at the intersection of Harper's Landing Boulevard and South Trade Center Parkway. The center will feature a convenience store and gas station. Colliers International's Todd Edmonds and Cody Christoph represented the seller in the transaction.
HOUSTON — Byron Plant – Asset Plus has sold the 282-unit Timber Hollow Apartments to Ascension Cook Road for an undisclosed amount. The buyer plans to spend $2 million in upgrades on the property, which is located at 8000 Cook Road in Houston. Timber Hollow was sold out of receivership and is currently 82 percent occupied. Jim Hearn, Tom Warren, Tom Burns and Jay Gunn of Hendricks & Partners brokered the sale.
HOUSTON — Midway Cos. is adding four new tenants this spring to its $500 million CITYCENTRE development in Houston. LMD Botique will open this month, and a BRIO Tuscan Grille location is slated to open in April. In May, Midway will welcome Cyclone Anaya's Mexican Kitchen, and Ruggles Green in set for a June opening. Plans are in the works for 2010 openings of Sur La Table and Republic of Couture. CITYCENTRE, a 37-acre mixed-use project, includes 1.8 million square feet of retail and office space, 700 multifamily units and a 244-room hotel.
PASADENA, TEXAS — Frontier Logistics has leased 300,000 square feet of warehouse space from ING Clarion in Pasadena. The rail-served property is located at 3005 Highway 225, which is close to the Port of Houston. Doug Nicholson and John Nicholson of Grubb & Ellis represented the tenant, who occupied the space March 1. Brian Gammill and Darryl Noon of Transwestern represented the landlord.
GARLAND, TEXAS — MSKW Garland Investments has sold a 64,240-square-foot CarMax to an national investment trust for an undisclosed amount. Located at 12715 Lyndon B. Johnson Highway in Garland, the property sits on 14.41 acres. The tenant has 12 years and two 10-year options remaining on its lease. Martin B. Cohan and Tim Speck of Marcus & Millichap brokered the sale.
SAN ANTONIO AND SAN MARCOS, TEXAS — The Bank of New York Mellon Trust Co. has sold the Marbach Manor apartment complex to Agape Marbach Manor for an undisclosed amount. The 123-unit property is located at 7203 Marbach Ave. in San Antonio. Mike Miller of Hendricks & Partners' San Antonio office represented the seller. Miller and the firm's Will Caruth represented San Marcos Meadows Apartments Limited and San Marcos Les Chateaux Apartments Limited in the sale of a two-property San Marcos portfolio to San Marcos Green Investors. The 128-unit Meadows Apartments is located at 222 Ramsay St., and the 77-unit Les Chateaux is located at 1000 N. LBJ Dr.
PLANO, TEXAS — CMC Commercial Realty Group has sold the 209,089-square-foot CIGNA Pointe Building One to a private party for an undisclosed amount. The Class A property, located at 1640 Dallas Parkway in Plano, was completed in August to LEED Silver standards. CB Richard Ellis' Gary Carr, Russell Ingrum, Jack Fraker and Josh McArtor represented the seller.
FORT WORTH, TEXAS — NewQuest Properties is developing Shops at Timberland Crossing, which will be anchored by a 90,000-square-foot Kroger Signature store. Located at the intersection of Timberland Road and North Beach Street in Fort Worth, the 20-acre property will also feature 21,000 square feet of retail space and three pad sites. The Kroger will include a fuel center. Delivery is slated for 2012.
SAN ANTONIO — Noah's Ark Development will break ground during the second quarter on a Noah's Ark Self Storage & RV Parking facility in San Antonio. The property will be located at the intersection of FM 1516 and IH 10. Facility features will include climate-controlled units, a surveillance system and electrical hookups for RVs. San Antonio-based NDS Construction is the general contractor and will help design the property.
