IRVING, TEXAS — Marcus & Millichap Real Estate Investment Services has closed the sale of MacArthur Plaza, a 54,543-square-foot retail property in Irving. Todd Carlson of the firm’s Houston office marketed the property on behalf of the seller, Silvestri Investments. An out-of-state investor purchased the fully occupied property, which is located at 2802 N. MacArthur Blvd. just north of Highway 183. Tenants at the center include Family Dollar, Ace Cash Express and 12 others.
SAN ANTONIO — San Antonio-based Cross Metal Buildings has opened Phase II of Northern Hills Storage, a self-storage facility located at 4011 Stahl Rd. in San Antonio. The two-building addition totals 18,200 square feet and includes 134 climate-controlled units. Janus International supplied unit doors and hall systems; Whirlwind Components, Dynamic Fasteners, Davis Metals and Bay Insulation Systems also provided materials for the buildings.
HOUSTON — Stream Realty Partners has announced that FedEx SmartPost has signed a lease for approximately 85,000 square feet at The Hardy Distribution Center, located in Houston. FedEx SmartPost plans to move into the center in a few months. Justin Robinson and Kyle Valentine of Stream Realty Partners represented the landlord, ING Clarion Partners, and John Beggy and Chris Perkins of Fischer & Co. represented FedEx SmartPost in the lease negotiations.
LAKEWAY, TEXAS — Stan Johnson Company has sold a JPMorgan Chase Bank Ground Lease located in Lakeway, near Austin. The property, situated at 917 Ranch Road 620 South, had an asking price of more than $3 million, but final terms of the sale were not disclosed. The seller, a Texas-based office developer, was represented by Jim Gibson of Stan Johnson Company’s Houston office. William Kinn of Kinn Real Estate Counselors represented the buyer, an individual investor participating in a 1031 exchange.
CARROLLTON, TEXAS — Dallas-based Lee & Associates arranged a lease for 126,882 square feet on behalf of Hilex-Poly. ProLogis owns the property, which is located at 1440 LeMay in Carrollton. Conrad Madsen and Greg Nelson of Lee & Associates represented the tenant, and Jacob Milligan provided in-house representation for ProLogis. Lee & Associates also represented Tao Tao USA in its lease of 71,498 square feet in Carrollton. The company leased space at Trinity Mills Distribution Center #7, which is located at 2425 Camp Ave. Lee & Associates’ Madsen and Nelson again represented the tenant and Mitch Pruitt offered in-house representation for ProLogis.
GALVESTON, TEXAS — Sperry Van Ness has brokered the foreclosure sale of The Club of the Isle, a 248-unit luxury multifamily community located in Galveston. The Class A property is situated on more than 15 acres at 3433 Cove View Blvd. on Galveston Island. It comprises three four-story wood frame and concrete stilt buildings with parking garages on the ground floor. The community features one-, two- and three-bedroom units, and three-bedroom townhome units. Monthly rents range from $765 to $1,395. Amenities include gated access, swimming pools and a spa, a billiard room, a massage room, a volleyball court a clubhouse, a fitness center, a playground, a 16-hole chip and putt course and a business center. Occupancy was 80 percent at the time of sale. Kitty Wallace represented the sellers, Bank of America and Wachovia, and the buyer, Illinois-based Marquette Cos. The Club of the Isle was built in 2005 as an apartment community, but a local investor acquired it in 2006 and proceeded to sell some of the units as condominiums. As the residential market deteriorated, the owner started leasing units prior to the foreclosure. The new owner plans to operate the community as apartments in the near-term.
FORT WORTH, TEXAS — Fort Worth’s CentrePort Business Park will soon be home to a new DT Credit Corp. call center. The Phoenix-based company has leased approximately 31,000 square feet at the park, located at 15001 FAA Blvd. in Fort Worth. Scott Ellsworth of NAI Horizon in Phoenix and Van Power of NAI Robert Lynn in Dallas represented DT Credit Corp. Ben Sumner of Stream Realty Partners represented the building’s owner, 15001/CentrePort LP, in the transaction.
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.