BEAUMONT, SAN ANTONIO AND BELTON, TEXAS — San Rafael, Calif.-based The Silver Group has brokered three Texas 1031 exchanges. In Beaumont, the company completed the sale of a 98,000-square-foot Academy Sports + Outdoor superstore. The private, East Coast-based buyer acquired the property for $9.3 million. The Silver Group represented the both parties in the transaction. In San Antonio, The Silver Group completed the sale of an IHOP restaurant located in northwest San Antonio. The restaurant has 20 years remaining on its corporate lease. The buyer was a California-based investor. In Belton, The Silver Group represented a California-based duck club in the 1031 purchase of a newly constructed Jack In the Box restaurant. The property is located next to a new Walgreens and across the street from Wal-Mart, HEB Grocery and 1st National Bank. It has a 20-year lease for the location. The acquisition prices in all three transactions were not disclosed.
Texas
CONROE, TEXAS — Houston-based NAI Houston has completed the sale of 10.8 acres of land located at the southeast corner of FM 2854 and Highway 105 in Conroe. Travis Land and John Ferruzzo of NAI represented the private sellers, Geral W. Faus and Susan Faus. The undisclosed buyer was represented by Chris Hutcheson of Houston-based McAlister Co. The acquisition price and future development plans were not released.
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.
SAN ANTONIO — Newport Beach, Calif.-based Buchanan Street Partners has sold Nowlin Tower, a 13-story, Class A office building located in San Antonio, for $38.5 million. Situated on 3.3 acres, the property comprises the 236,400-square-foot office building and an adjoining five-level parking garage. It also features a full-service bank with a 24-hour ATM, as well as postal and courier services. The property had recently undergone significant capital improvements, including a roof replacement, parking garage upgrades, HVAC upgrades, a remodeling of the building’s restrooms and the addition of a canopy to the main entrance. The property was acquired by SWBC, which had leased space at the tower as its headquarters for the past 15 years.
FORT WORTH, TEXAS — Arlington, Texas-based Bob Moore Construction has completed two new buildings at Mercantile Center, an approximately 1,300-acre business park located in Fort Worth. Mercantile Distribution Center 16 is a 136,900-square-foot facility with 28 dock doors, and Mercantile Distribution Center 17 is a 182,400-square-foot facility with 31 dock doors. Both buildings feature 50-foot by 50-foot typical bay spacing and a 50-foot by 60-foot loading zone along the dock doors. Each building also includes skylights and ESFR sprinkler systems. The project was designed by Dallas-based Hardy McCullah/MLM Architects. Mercantile Center is owned by Fort Worth-based Mercantile Partners LP.
HOUSTON — Dallas-based Faulkner Design Group has completed the interior design and planning for The Village at Gleannloch, a continuing care retirement community located at the intersection of Spring Cypress Road and Interstate 249 in Houston. The project will include more than 130 independent living apartments and cottages, as well as 80 units for assisted living, skilled care and memory support specialization. Amenities for the project include a fitness center, an arts studio, a salon and spa, a 100-seat chapel, outdoor patio areas, a swimming pool, a library and business center, and a café. The senior housing facility is one component of the Gleannloch Farms master-planned community. Other components include a variety of residential housing options, a lakeside aquatic and athletic complex, an equestrian center, a championship golf course, hiking and biking trails, and schools.
AUSTIN, TEXAS — Marcus & Millichap has negotiated the sale of 605 Brazos, an 8,614-square-foot office building located in the central business district of Austin. Greg Gaynor of Marcus & Millichap’s Austin office represented the undisclosed seller in the transaction. The property was acquired by a local company for an undisclosed amount.
GRANBURY, TEXAS — Commercial Mortgage Connection (CMC) has secured a $4 million acquisition loan for a 21,000-square-foot medical office building located at 805 Hill Blvd. in Granbury. The fully occupied property is situated within the Avalon Medical Park office complex. Terms of the financing include a 5-year term with a 25-year amortization schedule, a 5.75 percent interest rate and an 80 percent loan-to-value ratio. Bill Jackson of CMC arranged the loan on behalf of Avalon Medical Partners LP with a large commercial bank. Chris Cantwell of Fidelity National Title of Fort Worth assisted with the closing.
AUSTIN, TEXAS — Capmark Finance has originated a total of $6 million in fixed-rate, non-recourse financing for four Austin multifamily properties. The apartment communities total 235 units and are all located within approximately 1 mile of each other in the West Campus neighborhood of the University of Texas. They consist of Penthouse Apartments, 24 Flats, Park Plaza Apartments and The Willows. The loans have a 25-year amortization schedule and a 5-year term. Brant Smith and Andy Hill of Capmark’s Houston office originated the financing. The borrower for Penthouse Apartments and 24 Flats was Triple Play Properties, Ltd.; the borrower for The Willows was Bouldin Willows Apartments LP; and the borrower for Park Place was WinfloPark LP. All of the companies are affiliated of the Austin-based owner of the apartment communities. The lender was Freddie Mac.
CARROLLTON, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the lease of 13,500 square feet of industrial space at 1225 Capital Dr. in Carrollton. Chris Armstrong of HSMC represented the tenant, AlphaSIGN Centre, which will be relocating from its old headquarters in Dallas to the new office and warehouse building. The landlord, Cabbot Properties, provided in-house representation. Terms of the lease were not disclosed.