CORPUS CHRISTI, TEXAS — Corpus Christi-based Susser Holdings Corp. has reached an agreement to purchase a portfolio of 25 convenience stores. The purchase includes leaseholds for 24 of the stores and the real estate underlying the final property. Twenty-three of the stores are located throughout Texas and the other two are located in Louisiana. All of the locations have been constructed in the past 7 years, and Susser currently supplies fuel to 11 of the stores through its wholesale fuel business. The company plans to sublet a majority of the locations to independent operators. The all-cash transaction is expected to close at the end of August. Susser Holdings currently operates more than 515 convenience stores in Texas, Oklahoma and New Mexico under the Stripes and Town & Country brands. Its wholesale fuel division supplies branded fuel to approximately 370 independent dealers.
HOUSTON — Hendricks & Partners (H&P) has brokered the sale of Chancellor, a 224-unit multifamily community located at 311 Parramatta Ave. in Houston. The property was purchased by Miami Beach, Fla.-based JPMCC 2006-LDp9 Parramatta Lane Apartments LLC. The seller was locally based Chancellor Apartments LLC. Chip Nash and Greg Austin of H&P’s Houston office represented the seller. Terms of the transaction were not disclosed.
SAN ANTONIO — The San Antonio office of Transwestern has completed a lease for 50,000 square feet of office space at Bank of America Plaza, located in San Antonio’s central business district. Martin Down and Larry Mendez of Transwestern represented the landlord, Talcott Realty Investors, in lease negotiations. The tenant is the General Services Administration. Bank of America Plaza is a 532,900-square-foot, Class A office tower located at 300 Convent St.
HOUSTON — Goodrich Petroleum Corp. has signed a long-term lease for the top three floors of 801 Louisiana Street, located in Houston. The company, which plans to use the 37,000-square-foot space as its new headquarters, will move into the building this summer. Its lease has an expansion option. Bob Parsley and Stan Voelkel of Colliers International represented Goodrich Petroleum in lease negotiations. Jay Kyle, also of Colliers, represented the landlord, TPMC. The building recently under went significant interior renovations, with exterior improvements expected to be complete in the coming months.
DENTON, TEXAS — Stan Johnson Co. has completed the sale of a freestanding Walgreens store located on a 1.73-acre lot in Denton. The 14,820-square-foot building is 100 percent leased to Walgreens Co. Gill Warner, Rod Pickney and Chad Byerly of Team Warner of Stan Johnson Co. represented the seller, a retail developer. The team also represented the buyer, an institutional investor, in the $4.45 million transaction.
HOUSTON — CB Richard Ellis (CBRE) has brokered the sale of approximately 1.15 acres of land on Yorktown Crossing Parkway in Northwest Houston. CS Copperfield Ventures, LTD, a Buffalo Wild Wings franchise group, purchased the land from Satya, Inc. Matt Keener, Russell Janicek and Mark Raines of CBRE represented the buyer. Josh Jacobs and Chris Pitts of Page Partners represented the seller.
HENDERSON, TEXAS — A private investor recently purchased a 77-room Best Western Inn in Henderson for an undisclosed amount. Michael Yu and Rahul Bijlani of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, also a private investor. Yu and Bijlani also helped the buyer secure financing.
PASADENA, TEXAS — Cadence McShane Construction Co. has completed Kruse Replacement Elementary School, a 99,000-square-foot elementary school located in the 400 block of Park Lane in Pasadena. The school features 44 classrooms, 17 science laboratories, a gymnasium with a stage, a library, a cafeteria and administrative offices. Cadence McShane also completed the landscaping for the property and constructed a 136-space parking lot. The project architect was Dansby & Miller Architects. The school was constructed on behalf of the Pasadena Independent School District, which operates 34 elementary schools, eight middle schools, 10 intermediate schools, five high schools and four alternative education schools.
SPRING, TEXAS — The J. Beard Real Estate Company has brokered the purchase of a 31,799-square-foot land parcel, located at the intersection of Sawdust and Grogan’s Mill roads in Spring. The buyer, Gera Investments, plans to build a Burger King on the property. Zach Armstrong of J. Beard represented the seller, Woodforest National Bank. The acquisition price was not disclosed.
AUSTIN, TEXAS — Grubb & Ellis Realty Investor has leased 24,335 square feet of office space at The Avallon, a five-building, Class A office complex located in Austin. Trion World Network will occupy space within Building IV, which is situated at 10814 Jollyville Rd. Lauren Spaeth of Grubb & Ellis’ Austin office represented the landlord, Grubb & Ellis Realty Investors, in lease negotiations. Chris Perry and Sloan Spaeth of Aquila Commercial represented Trion World Network. The Avallon contains approximately 318,000 square feet of office space and is currently 97 percent leased.