DALLAS — Encino, California-based Marcus & Millichap Real Estate Investment Services has completed the sale of Buckner Manor apartments in Dallas. The 82-unit property, which is located at 2722 S. Buckner Blvd., was sold for $1.58 million to a Texas-based private buyer. Al Silva of Marcus & Millichap Real Estate Investment Services’ Fort Worth office represented the undisclosed seller in the transaction.
Texas
ARLINGTON, TEXAS — Hendricks & Partners has finalized the sale of Northridge apartments, located at 2011 Lincoln Dr. in Arlington. The property, which includes 126 units and amenities such as a swimming pool and a tennis court, was purchased by Miami-based King Landing Apartments VIII. Mike Burch of Hendricks & Partners represented the seller, Bakersfield, California-based State Road Northridge, LP, in the transaction.
HOUSTON — Wolff Cos., a Houston-based real estate investment and development company, has finalized the sales of three pieces of land inside the 440-acre, master-planned Interwood business park located at the intersection of Beltway 8 and John F. Kennedy Boulevard. The buyers were Western International (8.6 acres for two hotels and a restaurant), Friendswood Development Co. (12 acres) and BRG Cornerstone Development (4 acres, office development). David Hightower of Wolff Cos. represented the seller in the transactions.
HOUSTON — The Dow Chemical Company will be relocating its Houston Dow Center and Memorial Plaza operations to the Plaza at Enclave, a six-story, 344,053-square-foot building under construction in Houston’s Energy Corridor. The company will lease 280,000 square feet of the new building, located at 1254 Enclave Parkway, and will move in this September. CORE Real Estate is developing the property. Dow’s Jeff Cutler represented Dow, and Bonnie Kelley and Cody Armbrister of CBRE represented CORE Real Estate and the financial partner, BayNorth Capital, in the transaction.
HUMBLE, TEXAS — Marcus & Millichap has finalized the sale of Atascosita Professional Plaza, a 43,471-square-foot office building located at 7810 FM 1960 Rd. East in Humble, Texas. Ross Cannizaro of Marcus & Millichap represented both the buyer and the seller in the undisclosed transaction.
HOUSTON — Liberty Property Trust, a Malvern, Pa.-based commercial real estate firm, has selected Cadence McShane Corp. as the designer and builder of Fallbrook Building No. 1, an industrial facility located at 8103 Fallbrook Dr. in Houston. The 613,335-square-foot development, which can be a single- or multi-tenant facility, is scheduled for completion in summer 2008. Munson Kennedy Partnership will provide architectural services for the project.
HOUSTON — Chicago-based Wrightwood Capital has provided $42.1 million in financing to Cameron Management, a real estate services group, in the acquisition of a Houston office building. The property, located at 1001 McKinney St., is a historically designated building with over 372,000 square feet of office space. The financing for the 36-month loan was sourced through Susan Hill of Holliday Fenoglio Fowler.
DALLAS — A Concierge Asset Management-sponsored buyer has completed the purchase of the Honey Creek Apartment complex located at the intersection of Interstate 635 and Ferguson Road in Dallas. The 656-unit, class-B multifamily property was built in 1984 and includes 37 three-story buildings, three pools and four tennis courts. The buyer’s renovation plans for the property include upgrading the clubroom, adding three new gas grills and new pool furniture. Jenny Gillaspy of Concierge Asset Management represented the buyer, and Paul Harris of Moran & Co.’s Dallas office represented the undisclosed seller in the transaction
RICHARDSON, TEXAS — Texas-based McCarthy Building Cos. has begun construction on the $149 million office complex that will serve as Blue Cross Blue Shield of Texas’ headquarters in Richardson. The project is being developed by KDC. The 1.05 million-square-foot office complex, which is located on 34 acres in the Gatalyn Park area, will include a 15- and seven-story office tower and a 3,500 car parking structure. The project is scheduled for completion in the fourth quarter of 2009.
FORT WORTH, TEXAS — Eagle Mountain Saginaw Independent School District has completed the purchase of 160 acres within the master-planned community of Chapel Hill located in north Fort Worth. The district will use the land to build a new high school, middle school, bus terminal and maintenance facility. The high school and middle school both will be located on 130 acres at the intersection of Bonds Ranch Road and the future extension of Boat Club Road, while the bus terminal and maintenance facility will be located on 30 acres two miles south of Bonds Ranch Road. There is no timetable yet set for the project’s completion.