COPPELL, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Valley Ranch Centre, a 111,211-square-foot retail property in Coppell, located in the northern-central part of the metroplex. Anchored by Club 4 Fitness and Dollar Tree, Valley Ranch Centre was built on 11.6 acres in 1989 and was roughly 75 percent leased at the time of sale. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Centcom Realty Corp., and procured the out-of-state buyer in the transaction.
DALLAS — Denver-based investment firm Baceline Group has acquired two shopping centers totaling 78,311 square feet in the Dallas area. The properties include the 53,948-square-foot Preston Lloyd Shopping Center, located at 19009 Preston Road in Dallas, and the 24,363-square-foot Orchid Centre, located at 4150 Eldorado Parkway in the northern Dallas suburb of McKinney. Baceline Group acquired the assets as part of a portfolio that included a 26,442-square-foot center in Montgomery, Ohio. The seller was not disclosed.
KATY AND PEARLAND, TEXAS — CBRE has negotiated the sale of two multifamily properties totaling 602 units in the Houston area. Spencer Park Row is a 390-unit community located in the western suburb of Katy, and Tranquility Lakeside is a 212-unit complex located in the southern suburb of Pearland. The properties were respectively built in 2002 and 2004 and offer one-, two- and three-bedroom units. Clint Duncan and Matt Phillips of CBRE represented the undisclosed seller in the transaction. James D’Argenio and Chang Liu represented the buyer, California-based investment firm Bascom Group, on an internal basis. Michael Thompson and Travis Fincher of CBRE arranged acquisition financing through a fund backed by Oaktree Capital.
HOUSTON — GID Development Group has completed The Sterling, a 590-unit apartment community that represents Phase II of the Regent Square mixed-use project near Buffalo Bayou Park in Houston. Units feature studio, one- and two-bedroom floor plans, and amenities include a pool, dog park, fitness center, demonstration kitchen and a lounge. The midrise building also houses retail space and connects to multiple parks and open green spaces. Project partners included general contractor Arch-Con Corp. and design firms CBT and OJB Landscape Architecture. Rents start at approximately $1,400 per month for a studio unit.
HOUSTON — A partnership between Denver-based developer NexCore Group and North Cypress Land Ventures (NCLV), a group of physician investors, has opened Doctors’ Pavilion, a 112,505-square-foot medical office building in Houston. The four-story building is situated on a 4.7-acre site within the HCA Houston Healthcare campus on the city’s northwest side and will house an array of specialty medical practices. Construction began in summer 2020. In addition to retaining ownership, NCLV physicians will occupy space within the property.
HARLINGEN, TEXAS — Los Angeles-based BH Properties has acquired an 86,640-square-foot industrial building located in the Rio Grande Valley city of Harlingen. The property was built in 1970 as a regional distribution facility for Sears. Most recently, Valley Baptist Hospital operated the property as a laundry and supply storage facility prior to it being damaged in a storm. BH Properties will undertake a multimillion-dollar capital improvement program to address deferred maintenance, install a new roof and restore power and building systems. Conrad McEachern and Carlos Telles with CBRE represented the seller in the transaction.
PLANO, TEXAS — JAH Realty has purchased Preston Parkway Center, a 62,394-square-foot shopping center in Plano. At the time of sale, the property was 79 percent leased to tenants such as Red Hot & Blue, Einstein Bros. Bagels, Dogtopia, Honey Baked Ham, Ben & Jerry’s. Toronto-based Great Gulf sold the asset for an undisclosed price. Dallas-based John Freese & Associates brokered the deal.
HOUSTON — A partnership between locally based real estate giant Hines and Ivanhoe Cambridge has opened Texas Tower, a 47-story office building in downtown Houston. Designed by Pelli Clarke & Partners, the 1 million-square-foot building is already about 50 percent leased to a tenant roster that includes Hines, as well as law firms Vinson & Elkins, McGuireWoods and DLA Piper. Amenities include a full-service conference facility, fitness center and multiple terraces to maximize access to fresh air and the outdoors. Texas Tower also houses an 18,000-square-foot flexible workspace known as The Square, which is a product of Hines.
ARLINGTON, TEXAS — Locally based general contractor KWA Construction has completed The Truman, a 358-unit apartment community that represents Phase II of the $250 million, 1,300-unit Arlington Commons development. Designed by JHP Architecture and developed by Nehemiah Co., The Truman features one-, two- and three-bedroom units with stainless steel appliances, granite countertops and European-style cabinetry. Amenities include a pool, fitness center, game room, coworking lounge, outdoor grilling stations and a dining room with private event space. Rents start at $1,360 per month for a one-bedroom unit.
SAN ANTONIO — Newmark has brokered the sale of Waterford Park, a 224-unit apartment community in northeast San Antonio that was built in 2008. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, coffee lounge, business center and a dog park. Matt Michelson of Newmark represented the seller, Kansas City-based development and investment firm Cohen-Esrey, in the transaction. San Antonio-based REEP Equity purchased the asset for an undisclosed price. Waterford Park was 96 percent occupied at the time of sale.