CEDAR PARK, TEXAS — Marcus & Millichap has negotiated the sale of The Shops at East Park, a 19,338-square-foot retail center in the Austin suburb of Cedar Park. Built in 2014 on 2.3 acres, the property was 94 percent leased at the time of sale to tenants including Blooming Dental, Master Yang’s Karate Studio and Vista Donuts. Philip Levy, Chris Gainey and Parker Yates of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a Dallas-based private investment partnership.
FRISCO, TEXAS — California-based direct lender Money360 has provided a $21.4 million bridge loan for the refinancing of an undisclosed office property in the northern Dallas suburb of Frisco. The nonrecourse loan carries a 24-month term, floating interest rate and 75 percent loan-to-value ratio. The borrower was not disclosed.
ARLINGTON, TEXAS — Lee & Associates has brokered the sale of two industrial buildings totaling 151,700 square feet in Arlington. The properties are located at 2000 and 2030 E. Arbrook Blvd., less than a mile from Interstate 20. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Hamilton Commercial LLC, in the transaction. EastGroup represented the buyers.
SPRING, TEXAS — NAI Partners has negotiated the sale of Spring Stuebner Plaza, a 66,125-square-foot retail and office warehouse property located near Springwoods Village on the northern outskirts of Houston. The property was fully leased at the time of sale. Josh Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, Spring Stuebner Realty Ltd., in the transaction. The buyer was an undisclosed private investor.
PLANO, TEXAS — Sunwest Real Estate Group has signed a 52,551-square-foot lease at Tennyson Office Center, a two-building office complex in Plano. The tenant was NCR Corp. Doug Hanna and Tabitha Layne represented the building ownership on an internal basis. Doug Carignan and Steve Thelen of JLL represented the tenant. Sunwest recently repositioned the property to the tune of $3 million, renovating the lobbies, corridors, restrooms and exterior façade painting.
COPPELL, TEXAS — Holt Lunsford Commercial has secured a 24,399-square-foot industrial lease at 820 W. Sandy Lake Road in Coppell, located north of Fort Worth. According to LoopNet Inc., the property was built in 2006 and is located about a mile north of DFW International Airport. Jim Brice of Holt Lunsford represented the landlord, La Salle Investment Management Inc., in the lease negotiations. Matt Elliot of NAI Robert Lynn represented the tenant, Science Care Inc., an organ donation and tissue bank.
FORT WORTH, TEXAS — Locally based developer Hunt Southwest has landed a tenant for a full-building, 300,000-square-foot lease at DFW Coldspot, the company’s speculative cold storage facility located within Carter Industrial Park in Fort Worth. The tenant is Emergent Cold, a cold chain solutions firm with a significant presence in Australia. Hunt Southwest estimates occupancy will occur in late first quarter 2020. David Sours and Kevin Kelly of CBRE’s Food Facilities Group represented Hunt Southwest in the lease negotiations. David Norrie, also a cold storage specialist with CBRE, represented Emergent Cold. A number of other food and beverage distributors, including Tyson Foods, Schwan Food Co., Mother Parker’s Tea & Coffee and MillerCoors occupy space within Carter Industrial Park, which is near both Interstates 35 and 20 on the city’s south side.
LEWISVILLE, TEXAS — General contractor KWA Construction has completed Phase V of Hebron 121 Station, a $300 million multifamily project by developer Huffines Communities in Lewisville, a northern suburb of Dallas. Designed by Humphreys & Partners Architects, Phase V of the project spans approximately 300,000 square feet and 272 multifamily units. Amenities include a pool and a dog park. Hebron 121 Station overall spans 1,700 multifamily units and also includes a fitness center and a restaurant.
HOUSTON — Berkadia has arranged the sale of Lakes of 610, a 276-unit multifamily asset in Houston. Built in 1983, the property is located at 2701 W. Bellfort Ave. in the Willowbend area and features one- and two-bedroom units with mirrored closet doors and private balconies and patios. Amenities include a pool, spa and 24-hour maintenance service. Jennifer Ray and Ryan Epstein of Berkadia represented the seller, Starwood Capital Group, in the transaction. Andy Hill of Berkadia secured a $19.7 million Freddie Mac acquisition loan on behalf of the buyer, Western Wealth Capital, which plans to implement a value-add program at the property.
EULESS, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Flats at 901, a 200-unit apartment community in Euless, located northeast of Fort Worth. Units at the newly constructed property feature quartz countertops, stainless steel appliances and individual washers and dryers. Amenities include a pool area with an outdoor kitchen, as well as a game area and fitness center. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, The NRP Group, and procured the buyer, Virginia-based Weinstein Properties.