DALLAS — Locally based investment firm Mohr Capital has purchased a 200,000-square-foot office building located at 4851 LBJ Freeway in Dallas for $34.5 million The 12-story building was 90 percent leased at the time of sale. Rodrigo Godoi and Kyle Campbell represented Mohr Capital, which will implement $2 million in capital improvements to the property, on an internal basis. Gary Carr, John Alvarado and Robert Hill of Newmark Knight Frank represented the undisclosed seller.
DALLAS — Newmark Knight Frank (NKF) has negotiated a 191,360-square-foot industrial lease expansion for Distribution Management Inc. at 4695 Clover Haven St. in Dallas. The company previously occupied 70,000 square feet and will take occupancy of its new space in April following the completion of tenant improvements. Art Leichner and Andrew Crites of NKF represented Distribution Management in the lease negotiations. The landlord, Exeter Property Group, was self-represented.
FATE, TEXAS — Brookshire Grocery Co., a Tyler, Texas-based chain that operates about 180 grocery stores in Texas, Louisiana and Arkansas, will open a FRESH by Brookshire store in Fate, located about 30 miles northeast of Dallas. The store will span a minimum of 55,000 square feet and will be located at the corner of Interstate 30 and Memorial Parkway. Construction is scheduled to begin by the end of the year, and the store is slated to open in late 2021.
SAN ANTONIO — Multifamily developer Presidium has broken ground on Presidium at Chase Hill, a 370-unit apartment project in San Antonio. The community, which will be Presidium’s first in the Alamo City, will be situated on 17 acres on the city’s northwest side. Units will feature nine-foot ceilings, stainless steel appliances, granite countertops and walk-in closets. Amenities will include multiple pools, outdoor grilling areas, a two-story fitness center, multiple Wi-Fi lounges and a rooftop terrace. REES Associates Inc. designed the community. Pape-Dawson is the project engineer, and Hitchcock Design Group is the landscape architect. Completion is slated for early- to mid-2022.
AUSTIN, TEXAS — SVN | Angelic has completed the sale of a 156,024-square-foot office building located at 1345 Philomena St. in Austin’s Mueller district. The building serves as the headquarters of the buyer, Ascension Seton, a Central Texas-based branch of the faith-based healthcare organization Ascension Health. The seller, an investment fund backed by Black Creek Group, was self-represented in the transaction. Gabriel Silverstein of SVN | Angelic handled the transaction with Ben Mingle of the Centurion Foundation on behalf of Ascension Seton, which purchased the property for an undisclosed price. Silverstein also worked with Duncan Swanston of Baltimore-based lender CGA Capital to secure $83.8 million in acquisition financing for the transaction. The acquisition allows Ascension Seton to gain long-term control of its headquarters office building and to restructure its existing lease and occupancy costs. A team of attorneys from Hall Render, Ballard Spahr, and Polsinelli, worked to restructure said lease. Ascension Health is the second-largest hospital operator in the United States with more than 2,600 facilities in 20 states and Washington, D.C.
IRVING, TEXAS — Dougherty Mortgage LLC has arranged acquisition financing for Silverton Apartments, a 256-unit community in Irving. According to apartments.com, the property was built in 1980 and features one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling area. Dougherty arranged the loan, which carries as 12-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending. The borrower and loan amount were not disclosed.
ARLINGTON, TEXAS — NAI Robert Lynn has negotiated a 46,800-square-foot industrial lease at 924 111th St. in Arlington. Michael Stanzel of NAI Robert Lynn represented the landlord in the lease negotiations. Lon Lloyd of Champions DFW Commercial Realty represented the tenant, logistics firm Pace Runners Inc.
SOUTHLAKE, TEXAS — Fabletics, an apparel company founded by actress Kate Hudson, and Tommy John, a provider of undergarments for men, have both signed retail leases at Southlake Town Square near Fort Worth. Fabletics will occupy 2,077 square feet, and Tommy John will occupy 1,925 square feet. Both stores, which are scheduled to open later this year, will be the first in the area for the two retailers. Southlake Town Square is a 130-acre mixed-use development that is owned and operated by a subsidiary of Retail Properties of America Inc.
DALLAS — Matthews Real Estate Investment Services has brokered the sale of Beacon Hill Apartments, a 396-unit multifamily community in Dallas that has since been rebranded as The Edison. Built in 1984 and remodeled in 2003, the community features one- and two-bedroom units and amenities including three pools, a racquetball court, clubroom and two laundry rooms. Pacific Team Management sold the asset to locally based investment firm WindMass Capital, which will upgrade the unit interiors, for an undisclosed price. Dan McQuaid of Matthews handled the transaction. The property was 80 percent occupied at the time of sale.
GRAND PRAIRIE, TEXAS — SevenSeas Holdings LLC has acquired Terraces on the Parkway, a 296-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling stations, fitness center, dog park and a children’s play area. Dougherty Mortgage LLC arranged an undisclosed amount of Fannie Mae acquisition financing for the deal. The loan, which carried a 12-year term and a 30-year amortization schedule, was secured through a partnership with Old Capital Lending.