FARMERS BRANCH, TEXAS — Furniture company Weir's Furniture Village has acquired a 416,000-square-foot industrial property in the Dallas suburb of Farmers Branch that will serve as its new headquarters. The building is located on 16.11 acres at 4800 Spring Valley Road. It will house Weir's headquarters offices, distribution center and retail outlet store. The company will be relocating its current distribution center, which is located near the interchange of Stemmons Freeway and Mockingbird Lane in Dallas, to the new building. Tom Pearson and Chris Teesdale of Colliers International represented Weir's in the deal. Steve Berger and Dave Anderson of CB Richard Ellis represented the seller, Worldcolor, which was also the building's former occupant.
Texas
DALLAS — Marcus & Millichap has brokered the sale of West Amherst Circle, a 44-unit apartment community in Dallas. Located at 5419 W. Amherst Circle, the community was 90 percent occupied at the time of the sale. Michael Ware, Will Jarnagin and Norman Eastwood of Marcus & Millichap's Dallas office represented the seller, a court-appointed receiver. The buyer's name was not released.
HOUSTON — Walton Street Capital has put Houston's Galleria Office Towers on the market for sale. The three Class A buildings contain approximately 1.1 million square feet of space and are currently 90 percent occupied. The buildings are connected to the Galleria mixed-use development, which also contains 2.3 million square feet of retail space and two Westin hotels. Robert Williamson of the Houston office of Holliday Fenoglio Fowler will lead the brokerage team on behalf of Walton Street. The properties are being offered without an asking price free and clear of debt.
FRISCO — Dallas-based Integral Real Estate Services will break ground today on the 245,000-square-foot Hickory Center at Preston in Frisco. Located at Preston Road and Gary Burns Drive, the regional shopping center is anchored by a 185,000-square-foot Walmart. Scheduled to open in summer 2011, this will be the second Walmart in Frisco
ARLINGTON — The 37,124-square-foot Regions Bank that is within walking distance of Dallas Cowboys Stadium sold. Vincent Knapp of Marcus & Millichap facilitated the sale between the seller, a limited partnership, and an all-cash 1031 exchange buyer.
HOUSTON — Energy Crossing, a 239,166-square-foot, Class A Houston office building has sold to Lincoln Property Co., on behalf of a public pension fund client for an undisclosed amount. M&I Bank sold the property and was represented by Holliday Fenoglio Fowler's Dan Miller, real estate analyst Trent Agnew, and Adam Jackson and Stewart Lyman of Stream Realty Partners. Located in Houston's Energy Corridor submarket, Energy Crossing was completed in 2009 and has six floors of office space plus a four-story, 900-space parking garage.
RICHARDSON — Eclipse Electronic Systems has leased 24,403 square feet of office/flex space at Richardson Technology Center at 1551 N. Glenville Dr. in Richardson from Richardson Technology Properties. Sharon Friedberg of Bradford Commercial Real Estate Services and Nick Rossini of UGL Equis represented the tenant, while Mark Aston of Maverick Commercial Real Estate represented the landlord.
THE WOODLANDS — A 1,400-square-foot Subway restaurant has opened at Windvale Shopping Center at College Park Drive and FM 1488 Road in The Woodlands. Centro Properties Group owns the shopping center and was represented by its own Crystal Childs in the lease transaction.
SUGAR LAND — The Sugar Land City Council has approved a tax abatement with Accredo Packaging and API Realty on new real property improvements and personal property for a 171,000-square-foot expansion to Accredo Packaging's manufacturing facility in the Sugar Land Business Park. Designed for LEED Silver certification, the expansion will add more than $9 million in real property, $22 million in personal property, $1 million in new inventory value and 100 jobs to the community. Accredo Packaging manufactures and supplies sustainable, flexible packaging to the pre-packaged foods and consumer products markets in North America.
GRAND PRAIRIE — Bank of America has sold a 103,584-square-foot industrial building, located at 2895 113th St. in Grand Prairie, to Wilkerson Properties for an undisclosed amount. Mark Graybill and Donnie Rhode of Lee & Associates represented the seller, while Michael Stanzel of NAI Robert Lynn represented the buyer.