CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of a six-property retail portfolio for $15.62 million. Two of the properties are located in Corpus Christi: the first is a 7,370-square-foot Auto Zone located at 14062 Northwest Blvd., and the second is a 6,786-square-foot Auto Zone located at 2149 Airline Rd. The other four properties consist of Colonial Bank branches located in Georgia, Florida and Alabama. Andrew Gallas of Marcus & Millichap’s Chicago office and Robert Bender of the firm’s Detroit office represented the seller of the two Auto Zone properties. Andy Dorf and Zachary Felson of the firm’s Brooklyn, New York, office represented the buyer. All parties in the transaction were undisclosed.
HOUSTON — The Houston office of CB Richard Ellis (CBRE) has arranged leases for five AT&T Mobility stores in Houston. Matt Keener and Russell Janicek of CBRE represented the tenant in each of the transactions. The properties include: 3,500 square feet at 15411 Wallisville Rd.; 3,500 square feet at 13341 Westheimer Rd.; 3,503 square feet within Town & Country Village; 3,500 square feet at 1919 B Taylor St.; and 4,000 square feet within Spring Park Village. The terms of the transactions were not disclosed.
ALLEN, TEXAS — Boulder ORIX Net Lease has acquired a 261,700-square-foot, single-tenant industrial building located at 105 W. Bethany Dr. in Allen. The facility is situated on 13.65 acres and is fully occupied by Sanmina Texas. It features 32-foot clear ceiling heights, 18 dock doors and 512 parking spaces. The seller, New York City-based iStar Financial, was represented by Evan Stone, Cary Krier and Stephen Link of the Dallas office of Jones Lang LaSalle. Boulder ORIX Net Lease is a joint venture between Chicago-based ORIX Real Estate Capital and Northbrook, Ill.-based Boulder Net Lease Funds.
HOUSTON — Marcus & Millichap has arranged the sale of Wilcrest at Lakeside Center, a 14,875-square-foot shopping center located in Houston. Situated on 1.3 acres at 700 Wilcrest, the property currently has an occupancy rate of 94 percent. James Bell of Marcus & Millichap’s Houston office represented the seller, a Houston-based limited liability company. The shopping center was acquired by a San Jose, Calif.-based limited liability company. The sale price was not disclosed, but the property listed for $3 million.
PLANO, TEXAS — Chicago-based Wrightwood Capital has provided a $13.53 million loan for the acquisition of Pitman Atrium Tower, a 10-story office building located at 1255 W. 15th St. in Plano. The building totals more than 183,000 square feet, and features a shared conference room, a delicatessen and glass-backed elevators that open to a central atrium. The borrower, Dallas-based Holt Lunsford Commercial, plans to undertake a capital improvements program, and lease the remaining space. Terms of the loan include a 36-month term.
PEARLAND, TEXAS — Chattanooga, Tenn.-based CBL & Associates Properties has signed eight tenants to outparcel locations at Pearland Town Center, a 1.2 million-square-foot mixed-use development located at the intersection of FM 518 and Highway 288. Gringo’s Mexican Kitchen, Goodyear Auto Service, Burger King, Jared, Red Lobster, Pot Belly Sandwich Works, Pei Wei Asian Diner and Arby’s will join the 718,000-square-foot lifestyle center component of the project. The lifestyle center will be anchored by Dillard’s, Macy’s and Barnes & Noble. In addition to the retail component, Pearland Town Center will contain a 110-room Courtyard by Marriott hotel, office and residential space above the retail shops; as well as a 25-acre lake with walking paths and parks. Completion is scheduled for the end of this month.
MESQUITE, TEXAS — PNC ARCS has secured $7.37 million in financing for Town Centre Village Apartments, a 188-unit multifamily community located in Mesquite. Situated on more than 8 acres, the property includes a lobby with gathering areas, leasing and management offices, a kitchen, a pool room, a laundry room and an outdoor swimming pool. The loan carries a 7-year term with a 30-year amortization schedule, a 6.05 percent interest rate, and is interest-only for the first 3 years. The loan was originated by the Dallas office of PNC through Fannie Mae. The borrower was undisclosed.
HOUSTON — Alliant Capital has secured a $7.15 million loan for the refinancing of West Brook Apartments in Houston. The 148-unit, garden-style community comprises eight, three-story buildings. Terms of the financing include a 10-year term with a 30-year amortization schedule. The transaction was handled by Alliant’s Tucson, Arizona, office. Both parties were undisclosed.
LA PORTE, TEXAS — A partnership between Colorado-based Mountain West Industrial Properties and Galveston, Texas-based American National Insurance Co. has acquired Bayport N. Distribution Center II, a two-building industrial property located in La Porte. The recently constructed project is situated at the intersection of Fairmont Parkway and Underwood Drive, and includes two cross-docked facilities measuring 600,000 and 172,500 square feet. The recently constructed property was 17 percent pre-leased at the time of closing. It was acquired from the developer, Vantage Cos., which has been retained to manage and lease the property. The acquisition price was undisclosed.
HOUSTON — Behringer Harvard has sold a controlling interest in Enclave on the Lake, an approximately 171,000-square-foot office building located in the Energy Corridor of Houston. The six-story building is situated on 6.7 acres at 1255 Enclave Pkwy. It is currently 100 percent leased to SBM Atlantia, a subsidiary of SBM Offshore. Behringer Harvard completed the sale on behalf of Behringer Harvard REIT I, which acquired a 36 percent interest in the property in 2004 with other tenant-in-common (TIC) investors. The disposition will provide the REIT and its TIC investors with an overall yield during the cash holding period of more than 80 percent, as well as an annualized cash-on-cash return of approximately 19 percent. The sale price and the buyer were not disclosed.