DALLAS — Dallas developer C.C. Young has broken ground for The Overlook, a new $40 million senior housing project located near White Rock Lake in Dallas. The 208,000-square-foot project will include 108 apartment units with underground parking. The grand opening is scheduled for 2011.
Texas
SUNNYVALE, TEXAS — Marcus & Millichap has brokered the sale of a 136,751-square-foot FedEx freight facility located in Sunnyvale. The industrial property is situated on more than 30 acres at 301 Clay Road. It features 11,761 square feet of office space, 9,640 square feet of shop space, a guard shack, a 2,000-square-foot fuel island and expansion capability up to 20,860 square feet. Alvin Mansour of Marcus & Millichap's San Diego office represented the seller, a Washington-based developer. Ben Sgambati and Alan Cafiero of Marcus & Millichap's New Jersey office represented the buyer, a New York-based investor. Will Jarnagin of Marcus & Millichap's Dallas office provided local representation.
CARROLLTON, TEXAS — Construction is complete for a 29,808-square-foot office building located at 4320 Marsh Ridge Road in Carollton. The building's owner, Wholesale Payment Solutions, plans to occupy approximately 8,000 square feet of space and lease the remaining space. The project architect was Seitz Architecture, and the general contractor was Christopher Builders. The leasing team is Eric Rutledge and Abbey Barnett of Cushman & Wakefield of Texas.
DALLAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $65 million loan for the refinancing of 1700 Pacific, a 49-story, Class A office tower located in Dallas. 1700 Pacific contains 1.34 million square feet of space and is occupied by tenants that include Akin Gump Strauss Hauer and Pension Worldwide. Retail tenants at the tower include Starbucks Coffee, Camille's, Subway, Café Solace and Elevation Fitness Club. HFF's Steve Heldenfels and Whitaker Johnson secured the loan on behalf of Berkeley Investments. The loan carries a 5-year term, a fixed interest rate and was provided by ING Investment Management.
KATY, TEXAS — Marcus & Millichap has brokered the sale of Times Square Plaza, a 12,576-square-foot retail center located in Katy. Located at 400 W. Grand Parkway South, the center is fully occupied by four tenants, including Charming Charlie's. The property was built in 2006. Todd Carlson of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership. The buyer was undisclosed. The acquisition price was not released, but the property listed for $3.5 million.
NORTH RICHLAND HILLS, TEXAS — Stream Realty Partners has arranged the sale of 8605 MidCities Blvd. a 3,784-square-foot commercial property located in North Richland Hills. Russell Webb of Stream Realty represented the seller, Crest Haven Properties. The buyer was Reddoch Agency. The acquisition price was not disclosed.
HOUSTON — Holliday Fenoglio Fowler (HFF) has brokered the sale of Timberway II, a three-story, 130,822-square-foot office building located in Houston's Energy Corridor submarket. The building is situated on approximately 4.5 acres at 15995 N. Barkers Landing. Dan Miller, Martin Hogan and Trent Agnew of HFF represented the seller, PS Business Parks, Inc. The buyer's name was not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of Villa Nueva Apartments, a 98-unit multifamily community located in Houston. The property is situated on 2.4 acres at 827 Oak St. It was constructed in 1969. Brian Janak of Marcus & Millichap's Houston office represented the seller, a limited liability company. The buyer was not disclosed. The acquisition price was also not released, but the property listed for $1.57 million.
ARLINGTON, TEXAS — The Longview, Texas, office of Deason Financial Group has arranged $3.8 million in acquisition financing for a 176-unit apartment community located in Arlington. The property was built in 1974 and recently renovated. Occupancy was 92 percent at the time of closing. Dana Deason of Deason Financial secured the loan on behalf of a Boston-based investor group. The loan carries a 10-year term, a 30-year amortization schedule, a low-6 percent interest rate and an 80 percent loan-to-value ratio. The lender was Greystone Servicing Corp., which utilized the Fannie Mae DUS program.
SAN ANTONIO — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged the sale of Woodlake Crossing, a 160,000-square-foot shopping center located in San Antonio. The center, which was built in 2009, is situated at the corner of FM 78 and Woodlake Parkway. It is 81 percent occupied by a tenant roster that includes Best Buy, Ross Dress For Less, Office Max and Petco. It is shadow-anchored by a Target. Doug Hazelbaker and Ryan Shore of HFF's Dallas office represented the seller, David Berndt Interest. The buyer was Inland American, an affiliate of The Inland Real Estate Group of Companies.