HOUSTON AND FORT WORTH, TEXAS — Marcus & Millichap has completed two multifamily sales totaling 632 units. The first property is Chaparral Villas, a 376-unit community located at 5710 Glenmont Dr. in Houston. The property was built in 1970 and contains a mix of efficiency, one- and two-bedroom units. Will Balthrope, Jeffrey Fript and David Ching, all of Marcus & Millichap, represented the seller, a financial institution. Robert Su of Marcus & Millichap's Houston office represented the buyer, a limited liability company. The second property is The Falls, a 256-unit community located at 9001 S. Normandale St. in Fort Worth. Samuel Herskovits of Marcus & Millichap's Dallas office represented the undisclosed buyer. The seller was also not released.
HOUSTON — Gulfstream Properties has brokered the sale of an approximately 2-acre land parcel located at 2003 Voss Rd. in Houston. The buyer, Houston-based Community Self-Storage IV LP, plans to build a 200,000-square-foot storage facility on the property. Andy Aronson of Gulfstream represented the buyer. The seller was Gables Residential. The purchase price was not released.
DALLAS — Dallas-based United Commercial Realty (UCR) has arranged the first lease at Greenspace Center, a planned 32,000-square-foot retail project located at 2001 Greenville Ave. in Dallas. Golden, Colo.-based Natural Grocers will occupy 10,800 square feet as the center's anchor tenant. It will be the company's second Dallas location. UCR's Bill Veatch and Ryan Tinch represented the landlord, Madison Partners. Construction for Greenspace Center will begin in the first quarter of 2010 and is scheduled for completion in the second quarter. The project will be seeking LEED certification.
HOUSTON — Three new leases totaling 57,128 square feet have been signed at One Oak Park, a new office project located in Houston. Melton & Melton Certified Public Accountants is leasing 25,998 square feet, Access MediQuip is leasing 18,352 square feet, and First Continental Mortgage is leasing 12,778 square feet. Chip Colvill and Michael Anderson of Colvill Office Properties represented the landlord, a joint venture between Means Knaus Partners and an affiliate of The Carlyle Group. Andy Iverson of Jackson & Cooksey represented Access MediQuip, and Tommy Alexander and Warren Alexander of CB Richard Ellis represented First Continental Mortgage. One Oak Park totals 153,000 square feet and is located on 8.4 acres at 6002 Rogerdale Rd. in the city's Westchase district. The building was completed in April and is applying for LEED-Gold certification. Occupancy is currently 37 percent.
DALLAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $9.92 million in financing for the acquisition of the Midwest Triple Net Portfolio, a restaurant portfolio comprising 18 properties located nationwide. All of the restaurants are subject to triple-net leases and a majority are backed by corporate credit. The financing package includes a $5.92 million fixed-rate mortgage and $4 million in preferred equity investment. The borrower is a partnership sponsored by Midwest Restaurant Group. The borrower purchased the portfolio from Spirit Master Funding. Scott Lynn and Sunny Sajnani of MCA arranged the financing package.
AUSTIN, TEXAS — US Screen Corp. dba SI Screens has signed a lease for a single-story, 22,206-square-foot manufacturing facility located at 2105 Denton Dr. in Austin. The company will use the space to produce projection screens. It has already taken partial occupancy and will complete its relocation at the end of the month pending the completion of tenant improvements. SI Screens is relocating from a 14,777-square-foot facility located at 11110 Metric Blvd., also in Austin. Su Kosub of Grubb & Ellis represented US Screen Corp. in lease negotiations. Daniel Farrar of Stream Realty Partners represented the landlord, PS Business Parks.
BEAUMONT, TEXAS — Construction is under way for a new multi-purpose athletic complex for the Beaumont Independent School District. The facilities will be located on an 85-acre site south of Interstate 10, north of Fannett Road and east of Brooks Road. Construction will consist of a 10,365-seat stadium, a 10,600-square-foot field house and a 27,700-square-foot natatorium building. Completion is slated for 2010. The Houston office of SHW Group is serving as project architect, and the Houston office of Parsons Corp. is serving as program manager. Construction management services are being provided by the Houston office of Turner Construction Co. and Houston-based Hallmark Group.
HOUSTON — Charleston, S.C.-based Greystar Real Estate Partners has completed two new apartment communities in Houston. Northgate Oaks Apartments is located on T.C. Jester Boulevard, and Yorktown Crossing is located in the Highway 6 corridor. Both properties contain 312 units, and feature one- and two-bedroom units ranging in size from 716 to 1,262 square feet. Amenities include resort-style swimming pools and clubhouses with media rooms, fitness centers, cyber cafes and tanning salons. Greystar has opened two additional communities this year in Dallas and Sugar Land, Texas.
HOUSTON — CB Richard Ellis (CBRE) has brokered the sale of Woodlake Collection, a 9,861-square-foot shopping center located in Houston. Situated at 2660 S. Gessner Rd., the retail property was sold out of receivership and had been controlled by the lender. Ryan West and Paula Foster of CBRE represented the selling entity. The buyer is a Houston-based private partnership. The acquisition price was not disclosed.
HOUSTON — XL Parts has selected the Houston office of Cadence McShane Construction Co. for a multi-phase industrial project in Houston. In Phase I, Cadence McShane will build out 12,017 square feet of shell office space within the company's existing 187,620-square-foot industrial center at 15701 Northwest Freeway. Phase II will include the construction of a 101,650-square-foot, build-to-suit industrial facility located on approximately 24 acres at the intersection of Northwest Freeway and Beltway 8. The building will include 30-foot clear ceiling heights, three drive-in doors, two semi-dock doors, 34 standard dock doors and 2,931 square feet of office space. Munson Kennedy Partnership is serving as project architect. Completion is slated for February 2010.