MESQUITE, TEXAS — Weitzman has brokered the sale of a 73,872-square-foot retail building located on a 9.2-acre site at 3677 W. Emporium Circle in the eastern Dallas suburb of Mesquite. The undisclosed buyer will use the freestanding building, which previously housed an Academy Sports + Outdoors, as a showroom and warehouse for wholesale nail salon supplies. Cameron Mai of Weitzman represented the buyer in the deal. Mason Bishop of Transwestern represented the seller, a Houston-based partnership.
SAN ANTONIO. — Atlanta-based investment firm Ackerman & Co. has acquired One Medical Park, a 34,164-square-foot medical office building in San Antonio. The property houses tenants that provide pathology, dermatology and family medicine services, among others. Scott Herbold, Michael Dewey, Amber Austin and Ashlee Wells of CBRE represented the undisclosed seller in the transaction. Ackerman plans to remodel the entire building.
MCKINNEY, TEXAS — CBRE has negotiated the sale of Parkside at Craig Ranch, a 1,824-unit apartment community in the northern Dallas suburb of McKinney. The community was built in five phases between 2013 and 2021 within the 2,200-acre Craig Ranch master-planned development. The five phases total approximately 1.5 million square feet of net rentable space and feature an onsite convenience store, multiple fitness centers and a centralized workroom with private offices. Danny Baker, Johnathan Makus, Nita Stewart, Chandler Sims, Kevin O’Boyle and Mikey Bryant with CBRE represented the seller, Columbus Realty Partners, in the transaction. Mike Bryant, Jon Wooton and Kathryn Womble, also with CBRE, arranged a $242 million acquisition loan on behalf of the buyer, funds sponsored by Harbert Management Corp.
FORT WORTH, TEXAS — Hillwood will develop Alliance Center North 8 and 9, two speculative industrial buildings totaling approximately 1 million square feet within the firm’s 27,000-acre AllianceTexas master-planned development in Fort Worth. The cross-dock buildings will be marketed to e-commerce, logistics and manufacturing users and will feature 36-foot clear heights, 185-foot truck court depths, office space and LED warehouse lighting. In addition, Alliance Center North 8 will offer 140 car parking spaces (expandable to 260) with 116 trailer parking spaces, and Alliance Center North 9 will provide 150 car parking spaces with 221 trailer parking spaces. The groundbreaking is set for December, and completion is slated for the third quarter of 2022.
FORT WORTH, TEXAS — Greysteel has arranged a loan of an undisclosed amount for the refinancing of Longhorn Crossing Apartments, a 240-unit multifamily asset in Fort Worth. Built in 2016, the garden-style property offers one-, two- and three-bedroom units and amenities such as a fitness center, pool and a business center. Fisher Wells of Greysteel arranged the nonrecourse loan, which carried a five-year term and a floating interest rate. The borrower was an undisclosed 1031 exchange investor.
HARLINGEN, TEXAS — Los Angeles-based investment firm BH Properties has acquired a 103,000-square-foot anchor building at Valle Vista Mall in the Rio Grande Valley (RGV) city of Harlingen. Arkansas-based department store Dillard’s formerly occupied the space as a clearance center and vacated the site following the expiration of its lease earlier this year. BH Properties plans to reposition the building, which was constructed in 1983, and market it for retail, office or entertainment uses. Daniel Galvan of Coldwell Banker Commercial RGV represented the seller, an undisclosed New York-based investment firm, in the transaction. Octavio Guajardo with API Real Estate represented BH Properties. Valle Vista Mall spans 665,000 square feet.
WACO, TEXAS — Cinemark has opened a 14-screen movie theater at Cottonwood Creek Market, a 285,000-square-foot shopping center in Waco that is owned by Houston-based NewQuest Properties. Other anchors at the shopping, dining and entertainment destination, which is located within the 143-acre Cottonwood Creek mixed-use development, include Main Event and Topgolf.
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Easterly Government Properties to Acquire 10-Property VA Portfolio for $635.6M
WASHINGTON, D.C. — Easterly Government Properties Inc. (NYSE: DEA) has entered into an agreement to acquire a 1.2 million-square-foot, 10-property portfolio of facilities leased to the Department of Veterans Affairs (VA) for $635.6 million. The properties will be purchased in a joint venture with an undisclosed global investor, with Easterly retaining a 53 percent stake in the portfolio. Two of the properties are open, while the other eight are currently under construction. Acquisitions include: VA Chattanooga, a 94,566-square-foot Class A facility in Tennessee that was completed in November 2020. The property offers audiology, imaging, pathology, lab, dental and mental health services. VA Lubbock, a 120,916-square-foot facility in Texas completed in December 2020. The facility is located on the Texas Tech medical campus and features an ambulatory surgery center as well as general health, dental, audiology, ophthalmology, MRI, radiology, pharmacy, lab, physical therapy and mental health services. VA Lenexa, a 31,062-square-foot facility in Lenexa, Kan., that was delivered in May 2021. The property offers primary and specialty care, including audiology, dental, pathology and lab services, as well as radiology. VA San Antonio, a 226,148-square-foot development currently underway in Texas. The three-story facility will feature six patient aligned care team (PACT) modules …
HOUSTON AND DALLAS — Simply Self Storage, an Orlando-based owner-operator whose holdings total roughly 80,000 self-storage units across 23 states, has acquired a portfolio of eight facilities totaling approximately 4,200 units in Houston and Dallas. Seven of the properties spanning about 620,000 net rentable square feet and 3,600 units are located in Houston, with a roughly a third of that inventory being climate-controlled space. The Dallas property spans 65,950 net rentable square feet and 600 units. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — General contractor Skanska is underway on the 445,000-square-foot renovation and expansion of the Tarrant County College Northwest Campus in Fort Worth. Huckabee is the architect of record for the project, and Gensler is providing additional design services. Design work consists of “re-skinning” three existing buildings and constructing four new ones. This approach will expand campus programs to incorporate an early college high school, classrooms and specialty labs, visitor welcome and administration, onboarding, and fine arts, learning commons, theater, music and multifunctional spaces. Completion is slated for 2025.