DALLAS — ProPak Logistics has signed a 103,085-square-foot industrial lease at 8801 Autobahn Drive in South Dallas. According to LoopNet Inc., the property was built in 1997 and totals 270,490 square feet. Canon Shoults and John Gorman of Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Michael Meaden of CBRE represented the tenant.
OKLAHOMA CITY — Tanenbaum Equity Partners (TEP), a subsidiary of Oklahoma City-based Gardner Tanenbaum, has purchased a portfolio of 42 federally leased properties in 11 states for $106.5 million. Most of the buildings, which collectively total 573,000 square feet, were constructed as build-to-suits for government agencies such as the Social Security Administration, the Department of Homeland Security and the Veterans Administration. A Dallas-based team of Sunny Sajnani, Todd McNeill and Brandon Wilhite of Marcus & Millichap Capital Corp. arranged acquisition financing through Arkansas-based Centennial Bank on behalf of TEP. A Colliers International team led by Geoff Ficke represented TEP in the sale. The seller was CoreCivic, according to the Nashville Business Journal.
PLANO, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Huntington, a 320-unit apartment community that is located less than a mile from the Legacy West corporate campus in Plano. The property was built on five acres in 2018 and features studio, one- and two-bedroom units averaging 914 square feet. Amenities include a pool, fitness center, lounge and a dog park. Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond of IPA represented the seller, Catalyst Urban Development, and procured the buyer, Fairfield Residential.
HOUSTON — JLL has arranged two loans totaling $40 million for the refinancing of 5300 Memorial and 10497 Town & County, two office buildings totaling 302,980 square feet in Houston. The properties respectively span 153,671 and 149,309 square feet and were 93 and 91.5 percent leased at the time of the loan closings. John Ream led a JLL team that arranged the floating-rate financing through East West Bank on behalf of the borrower, metro Philadelphia-based Equus Capital Partners.
AUSTIN, TEXAS — California-based Menlo Properties has acquired 7000 West at Lantana, a 136,075-square-foot office complex in southwest Austin. The property was built in 1999 as part of the Lantana master-planned community. Dallas-based Starwood Capital Group sold the asset for an undisclosed price. Mike McDonald, Ryan Stevens and Celeste Fowden of Cushman & Wakefield brokered the deal.
GARLAND, TEXAS — Colliers Mortgage has provided an undisclosed amount of Fannie Mae acquisition financing for Centerville Crossing Apartments, a 152-unit multifamily property located in the northeastern Dallas suburb of Garland. Built in 1970 and renovated in 2003, the market-rate property consists of 14 two-story buildings and a single-story leasing office. Colliers Mortgage provided the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, an entity doing business as 834 Centerville Crossing LLC.
HOUSTON — Chicago-based investment firm Dayton Street Partners has acquired a 500,000-square-foot logistics property in northeast Houston that features a 333-door truck terminal and a 33-bay maintenance facility. The property is situated on 90 acres at 5800 Mesa Drive, just south of Interstate 610 and less than 10 miles from Port Houston. Dayton Street Partners will undertake a multimillion-dollar renovation of the terminal and the development of 25 acres for secured trailer parking. The undisclosed seller was a private investor.
HOUSTON — Younan Properties Inc., a Los Angeles-based subsidiary of global private equity firm Younan Co., has acquired Two Westlake Park, a 455,000-square-foot office building located in Houston’s Energy Corridor. The building was constructed on 5.4 acres in 1982 and is situated within Westlake Park, an office development that spans more than 2.8 million square feet across 58 acres. Dan Miller and Marty Hogan of JLL represented the seller, PIMCO, in the transaction. Younan Properties was self-represented.
HASLET, TEXAS — Bellomy & Co. has brokered the sale of Life Storage, a 623-unit self-storage facility in Haslet, located approximately 16 miles from downtown Fort Worth. The property spans 78,950 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited partnership, in the transaction. The duo also procured the buyer, New York-based Angelo Gordon Real Estate Inc.
RICHARDSON, TEXAS —3D Development Partners, which has offices in Georgia, Tennessee and Texas, will build a 123-room hotel in the northeastern Dallas suburb of Richardson that will be operated under the Element by Westin brand. The hotel’s suites will feature full kitchens and spa-inspired bathrooms. Amenities will include a fitness center, pool and bike rental program. 3D Development is partnering with Missouri-based management firm Midas Hospitality on the project, which is expected to open this summer.