DALLAS — Lee & Associates DFW has arranged the sale of an 11,700-square-foot industrial building located at 2324 Fabens Rd. in Dallas. Nathan Denton and Hanes Chatham of Lee represented the seller, Max Tech, and the buyer, Fargo Consultants. The acquisition price was not disclosed.
Texas
SAN ANTONIO — Oak Brook, Ill.-based Inland Mortgage Capital Corp. has provided a $10.35 million acquisition loan for a three-building office park located in San Antonio. North Park Corporate Center Phase II is situated on 7.35 acres at 17319 San Pedro Ave. in the city’s Hollywood Park neighborhood. The three buildings total 86,400 square feet of leaseable space. The financing is an interest-only, floating-rate, first-mortgage bridge loan with a 76 percent loan-to-value ratio. The undisclosed borrower will use the financing to acquire the property and lease the remaining space. The property was 75 percent occupied at the time of closing. Leslie Lundin of Inland originated the loan.
SAN ANTONIO — Irving, Texas-based Archon Group is nearing completion for Alamo Ranch, a 950,000-square-foot power center located in San Antonio. Situated on 114 acres at the intersection of Loop 1604, State Highway 151 and Culebra Road, the retail project is already 80 percent pre-leased. Tenants will include Target, J.C. Penney, Lowe’s Home Improvement Warehouse, Best Buy, Dick’s Sporting Goods and Ulta, among others. In addition to in-line shop space, Alamo Ranch also will include 16 outparcels. Tenants already signed to these spaces include Olive Garden and Chick Fil-A. MDN served as project architect, and EMJ Corp. is providing general contracting services. The grand opening is scheduled for July 30th.
HOUSTON —McShane Corp. has been selected by OakBend Medical Center to develop Grand Parkway Medical Office Center, an off-campus medical office building located in Houston. The three-story, 60,000-square-foot facility will be situated on 5 acres at Grand Parkway, approximately 7.5 miles from the hospital. It will feature medical suited divisible from 1,200 square feet, as well as an ambulatory surgery center. Groundbreaking is set to occur in September, with completion slated for fourth quarter 2009. The Houston office of Cadence McShane Corp. will provide design/build services for the project. Denver-based Marasco & Associates will provide the concept design, and Houston-based Seeberger + Associates will serve as architect of record. Grand Parkway Medical is the first of two medical office facilities McShane will be building for OakBend Medical Center. The second facility will be located on-campus. No details have been released.
RICHARDSON, TEXAS — CB Richard Ellis (CBRE) has brokered the sale/leaseback of a 59,343-square-foot office building located at 2180 N. Glenville Dr. in the Dallas suburb of Richardson. Darrin Roberts and Peter Danna of CBRE represented the seller, SBC Asset Management; the buyer, Attrich, was represented by Robert Mills of PM Realty Group. The single-tenant property is currently occupied by AT&T Services. The acquisition price was not disclosed.
MISSOURI CITY, TEXAS — SDI Realty Management has acquired an approximately 20-acre site located at the corner of Murphy Road and Highway 6 in Missouri City for redevelopment. The existing hospital and professional office building will be razed, and the site will be redeveloped into a retail center anchored by Lowe’s Home Improvement Warehouse. Keith Lloyd and Sam Sheff of the Houston office of Grubb & Ellis, along with Kirk Guilanshah of System Executive Real Estate, represented the land seller, Memorial Hermann.
HOUSTON — The Houston office of Cushman & Wakefield of Texas (C&W) has negotiated the sale of an 18,000-square-foot warehouse and storage yard located at 3020 Greens Rd. in Houston. B. Kelley Parker, John Littman, Jon Farris and Coe Parker of C&W represented the seller, Cargo Forwarding International. The buyer, GC Remediation, was represented by Greg Usher of Cypressbrook Co. The acquisition price was not disclosed.
BEXAR COUNTY, TEXAS — Hackensack, N.J.-based Kennedy Funding has provided a $12.5 million loan to Potranco Limited LP for the acquisition of a 173.56-acre land parcel in Bexar County, an unincorporated area near San Antonio. The land had been previously sold at auction, but Potranco Limited was able to secure the property after the original buyer backed out. Potranco is a development partnership between Alex Chambers of Austin-based Blackhawk Realty and Chip Field. Preliminary plans call for the site to be developed into a mix of retail, office and multifamily space, with half of the development consisting of retail space.
HOUSTON — Hendricks & Partners (H&P) has brokered the sale of Garden City, a 256-unit, HUD/HAP-subsidized apartment community located at 9601 W. Montgomery Rd. in Houston. Kevin McCarthy and Jeff Eisenhardt of H&P’s Houston office represented the seller, Houston-based KMR-Garden City LP. The property was acquired by Sherman Oaks, Calif.-based Garden City Investors for an undisclosed amount.
DFW AIRPORT, TEXAS — Cushman & Wakefield of Texas (C&W) has arranged the sale of a 151,845-square-foot industrial building located on a ground lease at 1011 Royal Lane in DFW Airport. The property is currently fully occupied by a tenant roster that includes Dallas Cowboys Merchandising and Direct Logistics. Kurt Griffin, Natalie Kampen and Wilson Stafford of C&W represented the seller, Bandera Ventures Ltd. The property was acquired by Cobalt Capital Partners.