AUSTIN, TEXAS — Jefferson Bank, a family-owned lender that was founded in San Antonio, has opened a 5,000-square-foot branch at Norwood Tower in downtown Austin. The branch officially opened on March 15, and the bank expects to employ more than 20 people at the site by the end of the year. Case McCoy of HPI Real Estate Investments & Services represented Jefferson Bank in the lease negotiations. Patrick Ley of Equitable Commercial Realty (ECR) represented the undisclosed landlord.
CARROLLTON, TEXAS — Locally based brokerage firm Bradford Commercial Real Estate Services has negotiated a 4,491-square-foot industrial flex lease at Avion Business Center in the northern Dallas suburb of Carrollton. According to LoopNet Inc., the building at 2155 Chenault Drive was constructed in 1984 and totals 24,944 square feet. Jason Finch of Bradford Commercial represented the undisclosed landlord in the lease negotiations. The representative of the tenant, FireTron Inc., a provider of fire extinguishers, was also not disclosed.
HOUSTON — The Little Gym, a fitness concept for children, has signed a 3,421-square-foot retail lease at Cypress Village Station in northwest Houston. The 10-year lease brings the 101,272-square-foot center to an occupancy rate of 85 percent. Kevin Sims internally represented the landlord, locally based developer NewQuest Properties, in the lease negotiations. Matt Reed of Shop Cos. represented the tenant. The Little Gym now operates eight facilities in the Houston area.
FRISCO, TEXAS — A joint venture between Pennsylvania-based developer Toll Brothers Inc. (NYSE: TOL) and Pondmoon Capital USA has broken ground on Mirra, a 285-unit multifamily project in Frisco. The building will rise five stories and total 330,000 square feet. Mirra will offer studio, one- and two-bedroom units that will be furnished with granite countertops, stainless steel appliances, custom cabinetry and tile backsplashes. Private terraces and balconies will also be available in select units. Amenities will include a pool, fitness center, leasing office, outdoor lounge with grilling stations, billiards room and a resident clubroom. Santander Bank provided a $49.5 million construction loan for the project, completion of which is slated for 2024.
FARMERS BRANCH, TEXAS — Locally based private equity firm KeyCity Capital has acquired Villa Gardens, a 142-unit apartment complex located in the northern Dallas suburb of Farmers Branch. According to Apartments.com, the property was built in 1969 and offers studio, one-, two- and three-bedroom units, as well as amenities such as a pool, playground, business center and onsite laundry facilities. Doug Banerjee, Jack Stone, Andrew Mueller and Sterling Warren of Greysteel represented KeyCity and the undisclosed seller in the transaction.
CONROE, TEXAS — SVN | J. Beard Real Estate — Greater Houston has arranged the sale of a portfolio of nine retail buildings and one office building totaling 50,335 square feet in Conroe, about 40 miles north of Houston. Jeff Beard and Bonnie Pfrenger of SVN | J. Beard represented the seller, a locally based limited partnership, in the transaction. Kristi Delafuente of JNK Property Group represented the buyer, a private investor. Both parties requested anonymity.
DALLAS — Lone Star Event Rentals, which provides furniture for large-scale gatherings, has signed a 12,000-square-foot industrial lease at Bickham Industrial Park in northwest Dallas. The deal brings the five-building complex to full occupancy. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Bickham EPA LLC, in the lease negotiations. The representative of the tenant was not disclosed.
EL PASO, TEXAS — Marcus & Millichap has brokered the sale of a 7,714-square-foot restaurant property in El Paso that is net leased to Red Lobster. The building was originally constructed on a 1.2-acre site in 1994 and subsequently renovated in 2012. Alan Lipsky and Barry Wolfe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was a private investor. Both parties requested anonymity. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.
BARTLESVILLE, OKLA. — Locally based investment firm Copper Tree Inc. has acquired Price Tower, a historic building in Bartlesville, about 45 miles north of Tulsa. Designed by Frank Lloyd Wright, the 19-story building was originally constructed in 1956 as the headquarters for H.C. Price, a manufacturer of pipelines and machinery for the oil and gas industry. Copper Tree plans to implement a capital improvement program to restore the building’s infrastructure and reposition it as a lifestyle hub.
CAMERON, TEXAS — Marcus & Millichap has brokered the sale of Cameron U Store M, a 179-unit self-storage facility that sits on a 2.5-acre site about 50 miles south of Waco. The property was built in 1950 and spans 29,128 net rentable square feet of non-climate-controlled space. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies that requested anonymity, in the transaction.