GRAND PRAIRIE, TEXAS — The Dallas office of Hendricks & Partners (H&P) has brokered the sale of Meadow Green Apartments, a 100-unit multifamily community located at 3001 Avenue K East in Grand Prairie. The property was originally constructed as a residential condominium project, and is situated on the Great Southwest Golf Course. All of the unit interiors have been recently upgraded. Tom Burns and Jay Gunn of H&P represented the seller, Meadow Real Estate Investors, Ltd., of Portland, Ore., and Las Vegas. The buyer, El Segundo, Calif.-based DMEP Meadow Green, acquired the property for an undisclosed amount.
Texas
FORT WORTH, TEXAS — The grand opening has been held for the corporate headquarters of Peregrine Point, located at 13537 Heritage Pkwy. in Fort Worth. Situated within the AllianceTexas industrial development at the southeastern edge of Fort Worth Alliance Airport, the facility will comprise 10,000 square feet of offices in front of two connected aircraft hangars. Peregrine Point, a startup aviation company, operates passenger and cargo flights. It presently owns two planes, a Gulfstream 450 and a Boeing 737-700C. The headquarters was designed by Roanoke, Texas-based RGA Architects and Oklahoma City-based FSB Aviation.
HOUSTON — NAI Houston has brokered the lease of a 30,000-square-foot industrial building located at 2510 Beltway 8 in Houston. John Clark and Darren O’Conor of NAI represented the tenant, Global Tech Motors, in the transaction. The landlord, 2510 Sam Houston Parkway LLC, was represented by Greg Williams of Pasadena, Texas-based Qualified Properties. Terms of the lease were not disclosed.
WYLIE, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has completed the acquisition of a 1.45-acre pad site, located at the intersection of FM 544 and Highway 78 in Wylie. The parcel is located directly across from an Albertson’s, east of a Chili’s and west of a post office. It was subsequently split into a 50,000-square-foot tract and a 13,000-square-foot tract, the latter of which was immediately sold to an adjacent property owner to accommodate a parking lot expansion. Tom Grunnah of HSMB represented the buyer, Dallas-based Wylie Commerce Ltd. The seller, the Unites States Postal Service, was represented by Rick Tiller of the Dallas office of Grubb & Ellis. Future plans for the site were not disclosed.
FORT WORTH, TEXAS — The Dallas-based Department of Veterans Affairs (VA) North Texas Health Care System, along with the Dallas office of BremnerDuke Healthcare Real Estate, have broken ground for a new VA Outpatient Clinic in Fort Worth. Located at 2031 SE Loop 820, the new facility will total 239,256 square feet. Once it opens in 2010, it will be the VA’s largest leased space. It is replacing the existing 48,691-square-foot Fort Worth Outpatient Clinic located at 300 West Rosedale. It is expected that the new VA clinic will handle a workload of 165,238 visitors annually by 2025.
DALLAS — Business law firm Scheef & Stone has relocated its corporate headquarters to Lincoln Plaza, located at 500 North Akard in downtown Dallas. The company will occupy 25,436 square feet on the 27th floor of the tower. Scheef & Stone is relocating from its previous Dallas office within Preston Center, located at 5956 Sherry Lane. The company expects to move to its new location by the end of the month. William Hale of the Dallas office of CB Richard Ellis represented the landlord, The California State Teachers’ Retirement System. The tenant was represented by Bo Bond and Brooke Armstrong of Jones Lang LaSalle. Terms of the lease were not disclosed.
PEARLAND, TEXAS — Chattanooga, Tenn.-based CBL & Associates Properties has held the grand opening for one of the anchors for the retail component of Pearland Town Center, a 1.2 million-square-foot mixed-use center located in the Houston suburb of Pearland. The store, a 140,000-square-foot Dillard’s, will join co-anchor Macy’s in the 718,000-square-foot, open-air lifestyle center. Other tenants include Barnes & Noble, Forever 21, Coach, Pac Sun, Red Robin and Mimi’s Café. The center held its grand opening in July.
EL PASO, TEXAS — Albuquerque, N.M.-based The Vaughan Company has completed the sale of a three-property multifamily portfolio in El Paso. The three apartment communities include The Village Apartments, an 87-unit property located at 5900 Enterprise Court; Village Two Apartments, a 72-unit property located at 140 Shadow Mountain Dr.; and Three Fountains Apartments, a 77-unit property located at 368 Shadow Mountain Dr. The Vaughan Company’s Richard Abel represented both undisclosed parties in the transaction. Acquisition financing was obtained from The Bank of Albuquerque.
HOUSTON — Capmark Finance has secured a $13.2 million loan for the refinancing of Briarwood Village Apartments, a 342-unit multifamily community located in the Briar Forest/Ashford submarket of Houston. Situated on approximately 13.6 acres, the property comprises 27 two-story, garden-style buildings. Unit amenities include patios or balconies, fireplaces and central air conditioning. Community amenities include a fitness center, two swimming pools and two laundry rooms. Scott Dow of Capmark’s Boston office originated the financing on behalf of the borrower, an affiliate of Boston-based Berkshire Property Advisors. The lender was Freddie Mac.
OKLAHOMA CITY, OKLA. — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $9.74 million in acquisition financing for Atrium Towers, twin six-story office buildings located in Oklahoma City. Situated near the intersection of Interstate 44 and Centennial Expressway, the buildings total 156,106 square feet. They had a combined occupancy rate of 95 percent at the time of closing. Tucker Knight and Brad Ballard of HFF secured the loan on behalf of the borrower, Houston-based Principle Equity Management. Terms of the financing include a 7-year term with a fixed interest rate. The lender was Plano, Texas-based ViewPoint Bank.