IRVING, TEXAS — Lee & Associates has arranged the sale of a 40,250-square-foot industrial building located at 2109 Vanco Drive in Irving. Corbin Blount and Adam Graham of Lee & Associates represented the seller, Premier Technical Plastics, a manufacturing of petrochemicals with offices in Texas and Arkansas. The buyer and sales price were not disclosed.
SELMA, TEXAS — Austin-based restaurant chain Pluckers Wing Bar will open a 7,400-square-foot location within Forum Pointe Shopping in Selma, a northeastern suburb of San Antonio. Whit Jordan of CBRE represented Pluckers in the site search and lease negotiations. The new location, which will be the company’s 23rd overall, is expected to open in 2018.
DALLAS — Canadian investment firm Pure Multifamily REIT LP (TSX: RUF.U), has entered into an agreement to acquire Farmers Market Apartments, a multifamily community located at 835 S. Good Latimer Expressway in Dallas, for roughly $66.3 million. Developed in 2016, the property totals 340 units averaging 824 square feet per unit. Amenities include a pool lounge, outdoor kitchen, fitness center and bicycle rental service. The transaction is expected to close in October.
AMARILLO, TEXAS — NewcrestImage has opened a 226-room Embassy Suites hotel in downtown Amarillo. The property features a mix of one-bedroom and studio suites; 18,000 square feet of meeting space, including a 10,000-square-foot ballroom; an indoor pool; and a restaurant and lounge. A 750-space parking garage was also delivered as part of the project. Construction began in October 2015.
SAN ANTONIO — Electra America, a multifamily investment and management firm with offices across the East Coast, has acquired Pecan Springs, a 344-unit multifamily community in San Antonio. Built in 2013, the property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center and dog park. Electra America will add washers and dryers to all units and upgrade the exterior of the property, which was 95 percent occupied at the time of sale.
CLUTE, TEXAS — Marcus & Millichap has brokered the sale of Clute Affordable Storage, a 452-unit self-storage facility located at 508 E. Main St. in Clute, a Gulf Coast-area city approximately 50 miles south of Houston. Nicholas Ling of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the buyer, a limited liability company. Other terms of sale were not released.
DENTON, TEXAS — Vanguard Real Estate Advisors has negotiated the sale of a 14.7-acre tract of land situated at the corner of Mayhill and Mills roads in Denton. Jordan Cortez of Vanguard represented the buyer, a Texas-based private investor. Development plans for the site have not yet been established.
DALLAS — A partnership between Boston-based Cabot Properties Inc and Stream Realty Partners has broken ground on International Logistics Center, a 646,796-square-foot industrial asset located near the Dallas-Fort Worth International Airport. The property consists of three buildings: a 118,634-square-foot rear-load building, a 203,476-square-foot front-load building and a 324, 686-square-foot cross-dock building. International Logistics Center also offers access to State Highways 360 and 183. A timetable for completion has not yet been established
CYPRESS, TEXAS — HFF has arranged the sale of Villages at Cypress Creek, a 384-unit, Class A apartment community located in the northwest Houston suburb of Cypress. The property, which was 95 percent occupied at the time of sale, offers amenities such as two pools, a spa and massage room, media room, coffee bar and dog park. Todd Marix and Chris Curry of HFF represented the undisclosed seller in the transaction. Cortney Cole and Jordan Finch of HFF arranged an undisclosed amount of acquisition financing through a life insurance company on behalf of the purchaser, Hilltop Residential.
HOUSTON — CBRE has arranged the sale of Casa Verde Apartments, a two-story, 384-unit multifamily community located at 2 Goodson Drive on Houston’s north side. Clint Duncan and Matt Phillips of CBRE represented the seller, Goodson Avenue Investors LLC. Trinity Casa Verde LLC purchased the garden-style community for an undisclosed price.
