AUSTIN, TEXAS — The Dallas regional office of NorthMarq Capital has arranged $2.5 million in first-mortgage financing for The Oaks Apartments, a 100-unit multifamily property located in Austin. The loan carries a 4-year term and a 30-year amortization schedule. David Mott of NorthMarq arranged the financing on behalf of the undisclosed borrower through a correspondent life insurance company.
Texas
DALLAS — West Dallas Investments has brought to market an investment opportunity for a new project in Dallas. The company is looking for a $120 million joint venture equity partner to develop a 57-acre assemblage of land located within the city’s Trinity River corridor. The project, which is tentatively known as Trinity River West, will feature approximately 45 million square feet of mixed-use space. The investment opportunity is being marketed by the Jones Lang LaSalle Development & Asset Strategy team of John Vick, Scott Cullen and Justin Bates. Re-zoning approval is expected this year. The city of Dallas has already begun a $2.4 billion program to build out the Trinity River Corridor. Already under construction is one of three signature bridges designed by Santiago Calatrava that will span the Trinity River and link the corridor with downtown Dallas. This first bridge will lead right to the Trinity River West property. Other development projects waiting to break ground include new bridges, surface streets with new alignments, and light rail and pedestrian options.
CARROLLTON AND LEWISVILLE, TEXAS — The Dallas/Fort Worth office of Lee & Associates has brokered two industrial transactions. In the first deal, Commander Properties disposed of a 17,088-square-foot property located at 3218 Commander Dr. in Carrollton. Adam Strittmatter and Nathan Denton of Lee & Associates represented the seller. The buyer, William L. Bryan & Associates, was represented by Matt Thompson of Colliers International. In the second deal, Broadtech Inc. signed a lease for 62,847 square feet of industrial space at 1401 Lakeway Drive, located in Lewisville. Ken Wesson and Greg Nelson of Lee & Associates represented the landlord, Cabot Properties. The tenant was represented by Grant Laughlin of Laughlin Commercial.
COLLEYVILLE, TEXAS — Four retailers and nine new office tenants have opened at The Village at Colleyville, a master-planned, urban village located at the intersection of Main Street and Colleyville Boulevard in Colleyville. Retail tenants holding their grand openings include The Pink Hanger, Salas Sunless Tanning Studio, The Station House and Salon Greene. New office tenants include Ztar Mobile, Scott Jacobs Insurance Group, SER Media, Seed Studios, True Heart Designs, Heart of a Champion, Eterne Films, Cobalt Bridge Multichannel and Efinity Group. Other tenants opening soon include Primo’s Bar & Grille, Milwaukee Joe’s Gourmet Ice Cream and Get Fit Personal Training Studio. The Village at Colleyville is being developed by Realty Capital Corp.; the project comprises multi-use buildings with retail, restaurant, office and residential space.
FORT WORTH, TEXAS — Dallas-based RM Crowe has signed five leases at Ridglea Shopping Center, a 112,000-square-foot retail property located at 6040 Camp Bowie Blvd. in Fort Worth. French bistro and bakery La Madeline has renewed its lease for 4,910 square feet. The tenant was represented by Kim Jordan-Miller of Staubach Retail. Other leases include J. Clint Robertson renewing its lease for 848 square feet; New South Federal Savings Bank renewing its lease for 400 square feet; Dee Dee Herring signing a new lease for 316 square feet; and Maureen Nichol renewing its lease for 204 square feet. Matt Waldon and Kirby Cone provided in-house representation in each of the transactions for RM Crowe, the owner of Ridglea Shopping Center.
WAXAHACHIE, TEXAS — Ravi Mehta and Sanjeev Lad of Marcus & Millichap’s Fort Worth, Texas, office recently secured a buyer for the 63-room Sleep Inn & Suites located at 1701 N. US Highway 77 in Waxahachie. Mehta and Lad had the exclusive listing to market the property on behalf of the seller, a limited liability company. The hotel sits on approximately 1.92 acres; it opened in June 2007.
RICHMOND, TEXAS — Delaware-based PGS Onshore, Inc., has sold an 18,000-square-foot manufacturing facility in Richmond to a private investor. The property is located at 15637 Ennis Rd. John Simons, Michael Palmer and Steve Hesse of CB Richard Ellis (CBRE) represented the seller.
ROCKWALL, TEXAS — Stan Johnson Co. recently completed the sale of a 14,820-square-foot, freestanding Walgreens pharmacy location in Rockwall. Located on 1.97 acres on the southwest corner of State Highway 205 and Lakeshore Drive, the property sold to an individual investor for $4.93 million. Jeff Hughes and Brad Pepin of Stan Johnson Co. represented the investor. Gill Warner, Rod Pickney and Chad Byerly, also of Stan Johnson Co., represented the seller, a retail developer.
DALLAS — Nathan Denton and Hanes Chatham of Lee & Associates DFW recently represented CAS Headquarters LLC in the purchase of a freestanding office building in Dallas. The 12,166-square-foot facility is located at 17501 N. Dallas Parkway. CAS will renovate the office building to accommodate its needs, and the company plans to occupy its new space in the third quarter of this year.
PLANO, TEXAS — The grand opening has been held for Tennyson Place, a 100,000-square-foot office building located at 5600 Tennyson Pkwy. in Plano. The multi-tenant building is divisible from 800 to 3,900 square feet. It features pre-finished suites that are pre-wired for Verizon’s FiOS services as well as preconfigured for wireless Internet access. Building amenities include a cafeteria and a conference room. The project also has LEED-Silver designation. Tennyson Place is owned and managed by Dallas-based Primera Cos. The project was designed by Myers & Crow Co. Pinnacle Advisory Associates has been announced as the building’s first tenant.