EL PASO, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the purchase of a nine-story, mixed-use building located at One Union Fashion Center in downtown El Paso. The building comprises 212,000 square feet; it features retail space on the first two floors, and office and residential space on the top seven floors. Shawn Ackerman and Jason Gaines of HSMC represented the buyer, J&M Sales of Texas, which is a subsidiary of Gardena, Calif.-based National Stores. Doing business as Fallas Paredes, the buyer plans to move into the retail portion of the building by the end of 2009. The seller, VEK#2 LP, was represented by Dan Foster of the El Paso office of Grubb & Ellis.
OKLAHOMA CITY — Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT has acquired the Oklahoma City Medical Portfolio, a two-property medical office building portfolio located in Oklahoma City. Both properties are located on the campus of Deaconess Hospital. The first property, 5701 North Portland, is a three-story, approximately 61,000-square-foot building that is connected to the hospital by way of an underground tunnel. It is 86 percent leased to 17 tenants. The second property, 5401 North Portland, is a six-story, approximately 126,000-square-foot building that is physically attached to the hospital. It is 96 percent leased to 16 tenants. Grubb & Ellis Healthcare REIT acquired the property from Deaconess Portland MOB LP, which was represented by Toby Scrivner and Jeff Matulis of Tulsa, Okla.-based Stan Johnson Co. The acquisition price was not disclosed.
ABILENE, TEXAS — Marcus & Millichap has negotiated the sale of Corporate Place, a 45,278-square-foot office complex located at 3301 N. Third St. in Abilene. Greg Gaynor of the firm’s Austin, Texas, office, listed the property on behalf of the undisclosed seller. It was acquired by a Central Texas-based real estate investor for an undisclosed amount.
FORT WORTH AND CORINTH, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged approximately $10 million for two retail projects being developed by Dallas-based Margaux Development Co. MCA secured a $6.91 million interim loan for the predevelopment of Parkwood Shopping Center, a 31-acre retail project located in Fort Worth. Proceeds will be used to retire the existing land acquisition loan, prepare the site for vertical development, and proceed with site work and preparation. Current plans call for Margaux to develop a 212,500-square-foot regional shopping center; tenants already signed on include Academy Sports, NTB Tire & Battery and Aldi’s. The second loan totals $2.89 million and is secured by a 20.62-acre land parcel located in Corinth. Margaux plans to develop a retail project on the site known as Corinth Marketplace Shopping Center. Proceeds will be used to retire the existing land acquisition loan. Todd McNeill of MCA arranged both of the loans. The lenders and terms of the loans were not disclosed.
HOUSTON — Houston-based Transwestern has leased the top two floors of 1800 West Loop South, a 399,777-square-foot office tower located in Houston’s Uptown Galleria submarket. Advertising agency Fogarty Klein Monroe will use the space, which totals 39,506 square feet, as its Houston office. The lease brings occupancy in the tower up to 95 percent. Michelle Wogan and Monte Calvert of Transwestern represented the landlord, 1800 West Loop South Ltd. Kevin Gardner of CresaPartners’ Houston office represented Fogarty Klein Monroe. The tenant is working with the Houston office of architect PageSoutherlandPage to design the office’s interior.
ALLEN, TEXAS — The Woodlands Grill has held the grand opening for its fourth location at 932 Garden Park Dr. in Allen. The new restaurant is situated within Watters Creek at Montgomery Farm, a 1.15 million-square-foot, mixed-use development. The restaurant seats 220, and also contains an outdoor dining patio and a semi-private dining area for special events. The design of the restaurant is inspired by Frank Lloyd Wright’s famous Fallingwater House.
KATY, TEXAS — Houston-based Live Oak Capital has structured acquisition and development financing for The Providence at Grand Parkway Apartments, a 250-unit, independent living, senior community located at 22801 Franz Rd. in Katy. The age-restricted community will feature 36 bungalow-style units averaging 886 square feet, in addition to the other apartment units. Property amenities include a 10,000-square-foot amenities center that features a central dining room, a game room, a coffee bar, a fitness center, a theater, a business center, a library, a salon, a spiritual center and a sundries store. Other amenities include a swimming pool, a 2-acre lake and walking paths. Jim Kirkpatrick and Tip Strickland of Live Oak Capital secured a $16.2 million senior loan through Charlotte, N.C.-based Bank of America and $4.5 million in equity through Washington, D.C.-based Perseus Realty Partners. The financing includes 95 percent loan-to-value ratio. The borrower is Providence Grand Parkway, Ltd., an entity led by the project’s developer, Houston-based Blazer Building. The project is being designed by Houston-based Mucasey & Associates. Construction is slated to begin this month.
COPPELL, TEXAS — Dallas-based United Commercial Realty/Chain Links (UCR) has arranged a lease in Coppell. Arizona-based Sprouts Farmers Market will occupy 28,673 square feet of anchor space formerly tenanted by grocer Albertson’s at a shopping center located at the corner of Sand Lake and Denton Tap roads in Coppell. Jean Smith and Karla Smith of UCR represented the tenant in lease negotiations. Christopher Gibbons and John Zikos of Dallas-based Venture Commercial Real Estate represented the undisclosed landlord. Terms of the lease were not released.
HARLINGEN, TEXAS — San Antonio-based Pocket Communications has signed a lease for an 18,000-square-foot building located at 6906 West Expressway 83 in Harlingen. The new location will serve as the company’s flagship customer service center. Pocket currently operates a retail store and a small customer service center at 2617 South 77 Sunshine Strip in San Antonio. The 80 people employed at the location will relocate to the new center; Pocket plans to employ 260 people at the new location by 2012. Terms of the lease were not disclosed.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.