HOUSTON – RCP Reliant Corporate Center Ltd., a partnership led by Dallas/Fort Worth-based Realty Capital Partners, has invested approximately $4 million of preferred equity in three Houston office buildings. The properties, located at 2600, 2616, and 2626 South Loop West in the city’s Medical Center/South Main submarket, total 270,000 square feet and average an 89.6 percent occupancy rate. Costa Mesa, Calif.,-based CIMCO is the project sponsor.
PLANO, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has completed the sale of Research Center, a five-property industrial/flex park located in Plano. Constructed in 2001, Research Center contains five buildings situated on approximately 15 acres that total 160,000 square feet of space. Tenants at the property include Terminex, NexRev and Eagle Test System. HFF’s Jud Clements and Robby Rieke represented the seller, Bank of America. The buyer, a Dallas-based private investor represented by Mark V Commercial, purchased the property free and clear of debt. The purchase price was not released.
ARLINGTON, TEXAS — Southwest Bank has acquired a new branch in South Arlington. The bank purchased a property at the corner of Matlock and Arbrook that was originally built in 2008 for Washington Mutual, which never occupied the property. The branch will open in the fall. SCM Real Estate’s Thomas Bryant represented Southwest Bank and David Wright of Falcon Realty Advisors represented the seller.
HOUSTON AND SAN ANTONIO — Marcus & Millichap has brokered the sale of Mimosa 7, an apartment property located at 2414 Mimosa in Houston. Brian Janak and Mitchell Berg of the firm’s Houston office represented the seller, a Texas-based private investor. A Texas-based limited liability company bought the property, which was built in 1960 and sits on 5,778 square feet of land. Paul Gardner and Shelly Barzilay of the Marcus & Millichap’s Houston office represented the buyer. The property listed for $500,000. In addition, Marcus & Millichap’s San Antonio office secured the sale of an O’Reilly Auto Parts to a private investor. The property, located at 4019 San Bernardo Avenue in Laredo, is a 10,000-square-foot building ground-leased to O’Reilly’s. Rick Holland and Chad Knibbe of represented the undisclosed seller.
ADDISON, TEXAS — The groundbreaking has been held for the new Methodist Hospital for Special Surgery, located in Addison. Phase I of the project will include the construction of the 105,000-square-foot surgery facility. It will feature seven fully equipped operating rooms, 32 private patient rooms, 10 outpatient treatment rooms, a diagnostic imaging suite that will include CT and MRI machines, and physical therapy and rehabilitation services. Completion is scheduled for fall 2010. The project is a joint venture between area physicians, Methodist Health System and Nueterra Healthcare. The project marks Dallas-based Methodist Health System’s expansion into the Addison area.
PLANO, THE WOODLANDS AD HOUSTON, TEXAS — Holliday Fenoglio Fowler (HFF) has negotiated two Texas multifamily transactions. In the first deal, HFF’s Dallas office arranged the sale of and the financing for The Livingston, a 180-unit, Class A multifamily property located at 6301 Windhaven Pkwy. in Plano. HFF’s Bill Miller and Roberto Casas represented the seller, local developer Tonti Properties, which also constructed the property. The community was purchased by Vancouver, British Columbia-based Sunstone Realty Advisors free and clear of debt. HFF’s John Brownlee arranged the acquisition financing for the transaction, which totaled $12.84 million. The loan carries a 7-year term and a 5.38 percent fixed interest rate. The lender was Wachovia Multifamily Capital, Inc. – FNMA. HFF also arranged two loans totaling $49.79 million on behalf of Trammell Crow Residential for two communities. The properties include Alexan Woods, a 280-unit community located in The Woodlands, and Alexan Main Street, a 286-unit community located in Houston. The loan for Alexan Woods totals $27.63 million and the loan for Alexan Main Street totals $22.16 million.
HOUSTON — John Ferruzzo, Travis Land and Michael Keegan of NAI Houston recently represented Supreme Corp. Texas in the sale of an office/warehouse facility in Houston. Batterson Truck Equipment purchased the approximately 14,400-square-foot building, which is located at 5430 Killough. Chris Caudill and Joel Michael, also of NAI Houston, represented the buyer.
DALLAS — Cadence McShane Construction Co. has completed its 810,355-square-foot mixed-use construction assignment for PM Realty Group at Park Lane in Dallas. Called The Heights at Park Lane, the complex features residential, retail and parking components. The 580,000-square-foot residential portion includes three luxury residential buildings totaling 325 units: The Tower, a 20-story high-rise; The Flats, a 15-story mid-rise; and The Lofts, a three-story low-rise. The retail component spans 45,000 square feet, and a 220,310-square-foot integrated parking garage offers more than 500 parking spaces. The Heights at Park Lane, which is located at 8066 Park Lane, is part of Harvest Partners’ 3 million-square-foot urban, mixed-use development Park Lane in Dallas’ midtown neighborhood. Gromatzky Dupree & Associates provided architectural services for Cadence McShane’s mixed-use assignment.
HOUSTON — Advanced Platinum Solutions has signed a lease for 110,000 square feet of warehouse/distribution space at 10735 W. Little York in Northwest Houston. The long-term lease is at West Little York Distribution Center, which is owned and managed by Liberty Property Trust. The tenant, which provides warranty and repair services for Hewlett Packard in the U.S., has moved into its new location. Troy Collins with Holt Lunsford represented Advanced Platinum Solutions in the transaction.
SAN ANTONIO, TEXAS — Centurion Storage at O’Connor and Centurion Storage at Encino, two self-storage facilities in Northwest San Antonio totaling nearly 190,000 square feet, recently sold to a limited liability company. Located at 17402 O’Connor Rd., Centurion Storage at O’Connor spans 80,087 square feet; the 109,575-square-foot Centurion Storage at Encino sits at 21703 Encino Commons. Mark Villanueva of Marcus & Millichap’s Austin, Texas, office had the exclusive listing to market the properties on behalf of the seller, a limited liability company. Villanueva also secured the buyer.