KELLER, TEXAS — Olympus Property and its joint venture partner, Artemis Real Estate Partners, have acquired three multifamily properties consisting of 679 units in the Dallas-Fort Worth suburb of Keller. Stoneleigh Cos. originally developed the three Class A properties, which will be individually rebranded as Olympus Town Center, Olympus Stone Glen and Olympus Waterford.
MCKINNEY, TEXAS — HSM Equity Partners, the commercial development branch of Henry S. Miller Cos., has acquired a three-acre retail tract at the corner of McKinney Ranch Parkway and Ridge Road in McKinney, about 40 miles north of Dallas. The development plan for the tract includes a 21,000-square-foot retail center, set to begin construction in the second quarter of 2017. Joe Benton of Benton Commercial Real Estate Services represented the seller, while Lynn Dowdle of Dowdle Real Estate represented the buyer. Both parties requested confidentiality.
ELKHART, TEXAS — Marcus & Millichap has brokered the sale of a 9,180-square-foot retail property in Elkhart, a city roughly halfway between Houston and Dallas. Family Dollar is the sole tenant of the property, located at 212 N. U.S. Highway 287, and recently extended the original 10-year, double-net lease until 2022. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, an undisclosed limited liability company. Other terms of the sale were not released.
HOUSTON — Colvill Office Properties has finalized four new leases at 811 Louisiana, a 577,735-square-foot office tower in Houston’s Central Business District. Among the tenants represented in the newly secured leases are global advisory firm Willis Towers Watson, which leased a 19,222-square-foot space, and law firm McFarland PLLC, which leased a 6,150-square-foot space. Paula Bruns, Damon Thames and Chip Colvill of Colvill represented the landlord, Busycon Properties LLC, in both deals. Jeff Cairns, Bob Denney and Brandon Clarke of CBRE represented Willis Towers Watson. Kevin Kushner and William Padon of CBRE represented McFarland.
SHENANDOAH, TEXAS — Cypressbrook Co. has arranged the lease of 5,649 square feet of flex space at Portofino Tech Center, located at 19241 David Memorial Drive in Shenandoah, a city roughly 30 miles north of Houston. Denise Ksiazek of Cypressbrook represented the tenant, Cole Health Inc., a pediatrics and rehabilitation practice, in the transaction. Greg Tilton of Transwestern represented the landlord, Vara-Portofino Tech Center LLC.
GRAND PRAIRIE, TEXAS — IKEA has announced that construction on its 290,000-square-foot location in Grand Prairie, set to open in fall 2017, has progressed to the point of installing the company’s iconic blue panels. The Swedish furniture outlet, which already operates one DFW location in Frisco, will be situated on 30 acres along the eastern side of Highway 161 and Mayfield Road, roughly midway between downtown Dallas and downtown Fort Worth. IKEA recently announced plans for two new Texas locations to be opened in summer 2019 as well, one in Fort Worth and the other in San Antonio.
FORT WORTH, TEXAS — SHOP Cos. has negotiated the sale of Woodmont Plaza, an 84,521-square-foot retail site located at 6401-6451 McCart Ave. near the intersection of Altamesa Boulevard in southern Fort Worth. The property, which was 100 percent leased at the time of sale, currently houses tenants such as Big Lots, Advance Auto Parts, Pet Supplies Plus and Cricket Wireless. Tommy Tucker and Tim Axilrod of SHOP represented the seller, a Dallas-based limited liability company. The name of the buyer, a Texas-based limited partnership, was not disclosed.
DALLAS — Henry S. Miller Brokerage has arranged the sale of Villa Del Sol Apartments, a 255-unit multifamily property located at 7651 C.F. Hawn Freeway in southeast Dallas. Community amenities include a business center, playground, basketball court and laundry services. Villa Del Sol was roughly 97 percent occupied at the time of sale. Lane Kommer and Mark Porterfield of Henry S. Miller represented the seller, 511 Oakgrove LLC. Independent investor Brad Sumrok represented the buyer, Staples Multi Family.
HOUSTON — EDGE Capital Markets has brokered the sale of Park 45, a 20,510-square-foot retail center located at 26436 Lexington Road in Spring, a northern suburb of Houston. The property, located less than a mile from Interstate 45at the intersection of Spring Cypress Road, was 83 percent leased at the time of sale. Josh Jacobs and Burdette Huffman of EDGE represented the seller, Houston Joint Properties Ltd. Reed Parker of Lee & Associates represented the undisclosed buyer.
STAFFORD, TEXAS — Commercial lender Hunt Mortgage Group has secured a $5 million first mortgage bridge loan for Park Place Business Park, an office property located at 11104 W. Airport Blvd. in Stafford, a city on the outskirts of Houston. The financing, originated by Texas-based lender Q10 Kinghorn, Driver, Hough & Co., is structured as a 24-month floating rate loan with three one-year extension options. The borrower, Stafford Office Park II LP, originally acquired the 92,864-square-foot, Class B office property in 2005.