FARMERS BRANCH, TEXAS — Illinois-based Lawson Products has sold a 54,000-square-foot office/warehouse building to a private buyer for an undisclosed price. The property is located at 4335 N. Beltwood Parkway in Farmers Brach. Tony Gilbert of Capital Property Advisors represented the buyer. Ric Kanatzar and Adam Petrillo of Studley represented the seller.
Texas
IRVING, TEXAS — Hercules Tire has leased 60,099 square feet of industrial space from ProLogis in Irving. The property is located at 9500 N. Royal Lane. Mitch Pruitt represented ProLogis internally. Trey Fricke and Reid Bassinger of Lee & Associates represented Hercules Tire.
HOUSTON — Parkway Properties has sold the 162,909-square-foot One Park 10 Plaza to Beacon Investment Properties for an undisclosed amount. The Class A property is located at 16225 Park 10 Place in Houston. Tenants such as GGS Spectrum and J. Connor Consulting occupy 93.7 percent of the building. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler represented the seller.
HOUSTON — CONTI Organization has acquired the 176-unit Villa Ana apartment complex from Prudential for $3.4 million. The distressed asset, formerly known as Star Crossing, is located at 10101 West Sam Houston Parkway S in Houston. Villa Ana is more than 70 percent occupied. Boston Real Estate Solutions helped close the deal.
DALLAS — A court-appointed receiver has sold the 59-unit Las Palmas apartment complex to two private investors from California for an undisclosed price. The property is located at 2620 Colorado Blvd. in Dallas. Hendricks & Partners' Peter Hartnett represented the seller in the transaction.
HOUSTON — Investcorp Real Estate has purchased the 348,542-square-foot Deerbrook Marketplace shopping center from a private seller for an undisclosed price. The Houston property is 98.5 percent leased by tenants including Sports Authority, Best Buy, Bed Bath and Beyond, Marshalls, OfficeMax and PetsMart. Capital Trust provided financing for the acquisition, which will be managed by Global Fund Investments.
ARLINGTON, TEXAS — A regional bank has sold the 256,800-square-foot The Lodge at Legacy Park apartment complex to a New York-based private equity investor for an undisclosed amount. The 476-unit property is located at 2601 Furrs St. in Arlington. Features include a volleyball court, a business center, two swimming pools and a picnic area. Will Jarnagin and Michael Ware of Marcus & Millichap's Dallas office brokered the sale.
LEVELLAND, TEXAS — Construction has commenced on a $2.5 million expansion of two 150,000-square-foot warehouses at the Farmers Co-op Compress plant in Levelland. The expansion will increase the storage capacity by 72,000 bales of cotton. Construction will take three months.
AUSTIN, TEXAS — PS Business Parks has purchased a 704,000-square-foot industrial portfolio from an undisclosed party for $42.9 million. The 13-building portfolio is divided among three business parks in Austin. The warehouses are 88.1 percent leased.
IRVING, TEXAS — The General Services Administration has leased 30,000 square feet of flex office space at Parc 114, which will encompass 600,000 square feet when completed. Construction of the property, which borders the DFW International Airport in Irving, began in March and will wrap up in December. The GSA's 15-year lease is the first deal signed at the property, which is a joint venture between Jackson-Shaw and ORIX Real Estate Capital. Chris Jackson, Bob Hagewood and Blake Kendrick of Stream Realty brokered the lease.