Texas

Colliers Arranges Sale of Two-Building Office Property in North Dallas

by Taylor Williams March 8, 2017

DALLAS — Colliers International Group Inc. has brokered the sale of Banner Place, a two-building office property located at 12660 and 12770 Coit Road in north Dallas. Built in 1985, the property, which consists of a 12-story, 258,493-square-foot tower and a three-story, 27,018-square foot mid-rise and medical office building, was 70 percent leased at the time of sale. Creighton Stark and Chris Boyd of Colliers represented Gaedeke Group, which sold the property to Mark Jordan of JP Realty Partners for an undisclosed amount.

March 8, 2017

GVA, Decisive Ventures Receive Financing for Multifamily Property in Georgetown, Texas

by Taylor Williams March 8, 2017

GEORGETOWN, TEXAS — GVA LLC and Decisive Ventures LLC, two Austin area-based investment firms and joint venture partners, have received acquisition financing for Apple Creek, a 176-unit apartment community in Georgetown, a northern suburb of Austin. Amenities of the 10-building property, which is situated on a 10.5-acre tract at 302 Apple Drive near Interstate 35, include a pool, playground, basketball court and a dog park. HFF arranged the seven-year loan, which has a floating interest rate starting at 3.31 percent, through Freddie Mac on behalf of the joint venture.

March 8, 2017

Retail Texas

Marcus & Millichap Brokers Sale of Retail Center in Metro Houston

by Taylor Williams March 8, 2017

LEAGUE CITY, TEXAS — Marcus & Millichap has closed the sale of Westover Plaza, a 50,962-square-foot shopping center located at 6011 W. Main St. in League City, about 25 miles southeast of Houston. Justin Miller, Derek Hargrove and Davis Hansen of Marcus & Millichap represented the seller, a local developer. The name and representative of the buyer, a private investor, were not disclosed.

March 8, 2017

Retail Texas

Retail Solutions Arranges 10,641 SF Lease in Addison, Texas

by Taylor Williams March 8, 2017

ADDISON, TEXAS — Retail Solutions, a Texas-based brokerage firm, has negotiated a 10,641-square-foot lease at Addison Preschool, located at 14450 Marsh Lane in Addison, a northern suburb of Dallas. Brian Sladek and Chris Flesner of Retail Solutions represented the landlord, an undisclosed party. Riis Christensen of Transwestern represented the tenant, ELS Language Centers, which offers English language classes to people all over the world.

March 8, 2017

Mixed-Use Texas

Moody Rambin Closes Sale of Flex Site in Northeast Houston

by Taylor Williams March 8, 2017

HOUSTON — Moody Rambin has finalized the sale of 7810 Fairbanks-N. Houston Road, a 23.4-acre property zoned for retail or office use in northeast Houston’s Cypress Fair neighborhood. Brent Fredricks and Bob Gulley of Moody Rambin represented the seller, The Zaidi Family Trust, in the transaction. Debbie Barela and Crystal Robinson of Fidelity National Title represented the buyer, Jarrar Holdings LLC.

March 8, 2017

Office Texas

TREK Investment Group Closes Sale of 89,545 SF Office Property in Abilene

by Taylor Williams March 7, 2017

ABILENE, TEXAS — TREK Investment Group, an Austin-based brokerage firm, has closed the sale of an 89,545-square-foot office property located at the corner of State Highway 277 and South First Street in Abilene, a city about 180 miles west of Dallas. The property, which is situated on 8.8 acres, was 100 percent leased at the time of sale to the Texas Departments of Public Safety, Human Services and Health. Ethan Offenbecher and Parker Carroll of TREK represented the seller and procured the buyer, both of which requested anonymity.

March 7, 2017

Multifamily Texas

Marcus & Millichap Brokers Sale of Multifamily Property in Austin

by Taylor Williams March 7, 2017

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Spanish Village Apartments, a 13-unit property located at 2210 Enfield Road in the Tarrytown neighborhood of Austin. Built in two phases in 1940 and 1960, the property consists of 12 two-bedroom units and one one-bedroom unit. Josh Kantor and Mike Moffitt, Jr. of Marcus & Millichap represented the seller, an undisclosed individual. The buyer’s name and representative were not disclosed.

March 7, 2017

Retail Texas

Vitorino Group Arranges Sale of Retail Center in Fort Worth

by Taylor Williams March 7, 2017

FORT WORTH, TEXAS — The Vitorino Group has completed the sale of Magnolia Park Center, a 13,626-square-foot retail property located at 5408 Basswood Blvd. in Fort Worth. The center was 88 percent occupied at the time of sale. Bryce Gissler and Anthony Pucciarello of the Vitorino Group represented the buyer in the transaction, and Jason Vitorino, also with the Vitorino Group, represented the seller. Both parties are undisclosed private investors.

March 7, 2017

Industrial Loans Texas

JLL Secures Financing for Self-Storage Development in Pearland, Texas

by Taylor Williams March 7, 2017

PEARLAND, TEXAS — JLL has arranged financing for the construction of a new, 91,590-square-foot self-storage development in Pearland, a southern suburb of Houston. The five-year, non-recourse, floating-rate loan for the 726-unit facility, located at the intersection of Broadway and Kirby drives, was secured on behalf of SurePoint Self Storage. Griffin Guthneck of JLL led the effort for the financing, which originated from an undisclosed regional bank.

March 7, 2017

Retail Texas

X Team International Arranges Two Retail Leases in Houston, Midland

by Taylor Williams March 7, 2017

HOUSTON AND MIDLAND, TEXAS — Baker Katz and Venture Commercial Real Estate, member brokerage firms of X Team International, have secured two new leases for Northern Tool + Equipment, a Minnesota-based hardware supplier, in Houston and Midland. The Houston lease is for 18,000 square feet at Willowchase Shopping Center, located at 12944 Willow Chase Drive, and the Midland lease is also for 18,000 square feet at NEQ IH-20 and Loop 250. Clay Mote of Venture Commercial and Jason Baker of Baker Katz represented Northern Tool + Equipment in the two deals.

March 7, 2017

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