Texas

STONETERRA MEDICAL PLAZA SELLS FOR $13.7 MILLION

by admin March 27, 2009

SAN ANTONIO — Marcus & Millichap has completed the sale of Stoneterra Medical Plaza, a 57,211-square-foot medical property located at 150 E. Stoneterra Blvd. in San Antonio, for $13.7 million. The three-story building was constructed in 2006. It is fully occupied, with San Antonio Orthopaedic Group as the primary tenant. The medical center is situated near North Central Baptist Hospital, Baptist Regional Children’s Center, Methodist Ambulatory Surgery Center, Laurel Ridge Treatment Center, North Central Urgent Care and Spine Hospital of South Texas. Alex Zylberglait with Marcus & Millichap’s National Office & Industrial Properties Group and Ryan Shaw with the firm’s Miami office represented the seller, a locally based medical group, and the buyer, a New York-based group. Marcus & Millichap’s Dallas office provided local representation.

March 27, 2009

HENDRICKS & PARTNERS BROKERS $11.5 MILLION MULTIFAMILY SALE

by admin March 27, 2009

TULSA, OKLA. — Hendricks & Partners (H&P) has brokered the sale of The Highlands, a 593-unit apartment community located at 6000 S. Memorial Dr. in Tulsa, for $11.5 million. The Highlands is the second largest multifamily community in Tulsa and consists of 97 two-story, garden-style buildings on 33.39 acres. They contain a mix of studio, one-, two- and three-bedroom residences. Community amenities include a two-level fitness center, three swimming pools, several laundry facilities, a leasing office/clubhouse, a conference room and a business center. The buyer was Omaha, Neb.-based Tulsa Highlands LP, and the seller was the Federal Home Loan Mortgage Corp. Aaron Hargrove of H&P’s Tulsa office, Tim McKay of the firm’s Oklahoma City office and John Clayton of the firm’s Little Rock, Ark., office negotiated the transaction.

March 27, 2009

Hospitality Texas

HREC ARRANGES SALE OF 74-ROOM HAMPTON INN

by admin March 27, 2009

HOUSTON — HREC Investment Advisors has arranged the sale of the Hampton Inn & Suites Cypress Station, a 74-room hotel located in Houston. The property was acquired by an out-of-state owner/operator from a Houston-based developer. The buyer also acquired an land parcel adjacent to the Hampton Inn for a future hotel development. The acquisition price was not disclosed.

March 27, 2009

Mixed-Use Texas

STARPOINT COMMERCIAL ACQUIRES THE TOWER COMPLEX

by admin March 26, 2009

FORT WORTH, TEXAS — Beverly Hills, Calif.-based StarPoint Commercial Properties has acquired the commercial component of The Tower Complex, located at 500 Throckmorton St. in downtown Fort Worth. Included in the sale was two levels of retail and Class A office space at the base of The Tower that total approximately 73,000 square feet, as well as 109,000 square feet of retail and office space located in the Annex, which is situated directly across the street from The Tower. Notable tenants include Capital One, Chesapeake Energy, Cantina Laredo and Texas Capital Bank. The Tower also contains 295 residential condominiums over 37 floors that were not included in the sale. StarPoint Commercial Properties provided in-house representation in the transaction. Tom Salanty with the Dallas office of Cushman & Wakefield represented the seller, TLC Green Property Associates. The acquisition price was not disclosed.

March 26, 2009

Retail Texas

DUNHILL PARTNERS SELLS SHOPPING CENTER, PURCHASES ANOTHER

by admin March 26, 2009

SAN MARCOS AND LEAGUE CITY, TEXAS — Dallas-based Dunhill Partners has disposed of San Mar Plaza, a 185,092-square-foot community shopping center located in San Marcos. The property was 100 percent occupied at the time of closing by a tenant roster that is anchored by Hobby Lobby, Tractor Supply and Hastings Entertainment. Additional tenants include Dollar General, Payless ShoeSource and Verizon Wireless. The property was acquired by San Francisco-based Ratel Value Fund I. In addition, Dunhill Partners has acquired South Shore Marketplace, a 32,013-square-foot community shopping center located in League City. Tenants at the property include Subway, AT&T, Century 21 and Chase Bank. The center is shadow-anchored by a Kroger. The seller was Jacksonville, Fla.-based Regency Centers. The acquisition prices in both transactions were undisclosed.

March 26, 2009

Hospitality Texas

LAND PURCHASED FOR FUTURE SLEEP INN

by admin March 26, 2009

DALLAS — Coppell Beer & Wine Inc. has acquired a 1.45-acre land parcel, located at 3203 Kirnwood St. in Dallas, for the construction of a new Sleep Inn & Suites hotel. The site is situated near a Walmart Supercenter and Wheatland Marketplace, a fully occupied retail center. Randall Chrisman of The Chrisman Company represented the buyer. Thad Beckner of locally based Henry S. Miller Brokerage represented the seller, Newcastle Plaza Associates LP. The construction timetable was not released.

March 26, 2009

Retail Texas

INLAND WESTERN REIT SECURES $9.2 MILLION FOR RETAIL PURCHASE

by admin March 25, 2009

SOUTHLAKE, TEXAS — Inland Western REIT has secured $9.2 million in financing for the acquisition of Block 22 of Southlake Town Square, located in the Dallas/Fort Worth suburb of Southlake. Block 22 is a 35,436-square-foot retail property situated on approximately 4 acres at 1256 Main St. It was 96 percent leased at the time of closing to a tenant roster that includes Charles Schwab, FedEx Office and AT&T. Block 22 is the most recent expansion of the 807,000-square-foot Southlake Town Square mixed-use development. Kevin MacKenzie with the Dallas office of Holliday Fenoglio Fowler (HFF) arranged the financing on behalf of Inland through American Bank of Texas. Last month, HFF also originated a $13.97 million loan between the lender and the borrower for Preston Trail Village, a retail property located in Dallas’ Far North submarket.

March 25, 2009

Retail Texas

JONNI INVESTMENT ACQUIRES RETAIL CENTER

by admin March 25, 2009

SAGINAW, TEXAS — Jonni Investment Co. has acquired a 10,500-square-foot neighborhood retail center located at the intersection of Saginaw Boulevard and Cambridge Drive in Saginaw. The property is occupied by tenants such as Subway, Little Caesars Pizza, MetroPCS and Access Dental. Eddie Liebman of The Weitzman Group handled negotiations between the seller, Saginaw Investments, and the buyer. The acquisition price was not disclosed.

March 25, 2009

Multifamily Texas

M.J. SPOOR ARRANGES $5.8 MILLION FANNIE MAE LOAN

by admin March 25, 2009

PASADENA, TEXAS — Houston-based M.J. Spoor & Co. has arranged $5.8 million in fixed-rate, permanent financing for Maple Trail Apartment & Townhomes, a 202-unit multifamily community located in Pasadena. The lender in the transaction was Fannie Mae. The borrower and the terms of the loan were not disclosed.

March 25, 2009

Industrial Texas

JV COMPLETES $120 MILLION RAIL TERMINAL

by admin March 24, 2009

SAN ANTONIO — A joint venture between Chicago-based First Industrial Realty Trust and San Antonio-based 4M Properties has completed a $120 million Rail Intermodal Terminal for the Union Pacific Railroad in San Antonio. The facility is located on Interstate 35 and has access to the Union Pacific’s East-West and North-South lines. It is capable of handling up to 250,000 container lifts annually. Future plans call for the construction of a business park adjacent to the terminal.

March 24, 2009

Newer Posts

Older Posts