WICHITA FALLS, TEXAS — The Retail Connection has arranged the lease of retail space in Wichita Falls. CitiTrends signed a lease for 11,962 square feet from Sikes Senter LLC. Jamie Streeter and Jim Weir of The Retail Connection represented the tenant, while Irys Citko of Rouse Properties represented the landlord in the deal.
DENTON, TEXAS — Newport Beach, Calif.-based Arrimus Capital has purchased Forum at Denton Station, a student housing property located at 201 Inman St. near the University of North Texas in Denton. Boca Raton, Fla.-based Parkland Development sold the purpose-built property for an undisclosed price. The 420,684-square-foot development features 14 three-story buildings offering a total of 348 units, or 1,044 beds. The units are available in one-, two-, three- and four-bedroom layouts and are fully furnished. On-site amenities include a pool with a deck lounge, sand volleyball courts, indoor sports court, outdoor grilling and picnic areas and a 24-hour fitness center. Jaclyn Fitts and Casey Schaefer of CBRE represented the buyer and seller in the deal.
NEW CANEY, TEXAS — Signorelli Co. has started construction for the second phase of Valley Town Center, located at 11985 N. Grand Parkway East in New Caney. Slated to open in late 2017, the Phase II will bring 320,000 square feet of retail space to the 1.5 million-square-foot master-planned development. T.J. Maxx, Ross Dress for Less, Rack Room Shoes and PetSmart have preleased space at the new phase. Additionally, Cinemark Theatres is developing a NextGen all-recliner theater at the property. The 10-screen theater will be the first anchor for Valley Ranch Town Center Entertainment District.
ENID, OKLA. — CBRE has arranged the sale of Neilson Square, a shopping center located at 3322-3518 E. Owen K Garriott Road in Enid. Dallas-based Dunhill Partners acquired the 67,837-square-foot property from Louisville, Colo.-based IPS Neilson Square LLC for an undisclosed price. Anchored by Staples and Old Navy, the property was 94 percent occupied at the time of sale. Jason Little and Justin Brannon of CBRE represented the seller, while Basel Bataineh, also of CBRE, assisted with financial analysis and underwriting services for the transaction.
ADDISON, TEXAS — Shinn-Addison Hospitality has opened Home2 Suites by Hilton Dallas Addison, located at 4875 Belt Line Road in Addison. The hotel features 132 suites with fully equipped kitchens and modular furniture, complimentary internet, community spaces, laundry and fitness facilities, a grab-and-go market, outdoor pool, fire pit and barbecue area. Magnolia Lodging manages the property.
IRVING, TEXAS — PMZ Realty Capital has arranged an $11.9 million acquisition loan for TownePlace Suites by Marriott Las Colinas in Irving. The property offers 135 suites in studio, one- and two-bedroom layouts with fully equipped kitchens and free grocery delivery. Additionally, the hotel features a complimentary breakfast buffet, fitness center, outdoor pool and a 340-square-foot meeting room. The name of the borrower was not released.
DALLAS, GARLAND, MESQUITE, FORT WORTH AND TYLER, TEXAS — Tranwestern has brokered the sales of 1,600 multifamily units in the Dallas-Fort Worth area valued at $85 million. Taylor Snoddy, Philip Wiegard and James Roberts of Transwestern represented the seller and sourced the buyers in the five transactions. The acquisition prices for the individual transactions were not released. In the first deal, a New York-based investment group acquired North Park Terrace, a 310-unit property located at 8662 Park Lane in Dallas, and Pecan Tree, a 173-unit community located at 3001 Kendale Drive in Dallas. In the second transaction, an Oregon-based investment group purchased Eastfield Plaza, a 216-unit community located at 2626 John West Road in Mesquite. The buyer plans to renovate the property. In the third deal, a New York-based investment group acquired Parque Del Sol, a 200-unit property located at 238 E. Oates Road in Garland. In the fourth transaction, a Northern California-based investment group purchased Woods of Ridgmar, a 235-unit community located at 2200 Taxco Road and 2200 Ridgmar Plaza in Fort Worth. In the final deal, a Dallas-based investment group acquired 34 Hundred, a 484-unit complex located at 3400 Varsity Drive in Tyler. The buyer plans to renovate the …
RICHARDSON, TEXAS — Balfour Beatty Campus Solutions, along with Dallas-based Wynne/Jackson and lead equity partner Star Alliance, has closed on the financing for the second phase of a mixed-use project for the University of Texas at Dallas in Richardson. The development team will expand on the Northside Phase 1 development by delivering 275 housing units and more than 6,600 square feet of retail space valued at $67 million as part of a public-private partnership. Situated on 12 acres, the second phase will include mid-rise apartments and townhomes totaling 900 beds, as well as shops, restaurants and entertainment venues to serve the 27,000 students, faculty, staff and young professionals of the university and greater Richardson area. Additionally, the new development will have a fitness facility, a resort-style pool, patio areas and spaces for small gatherings. Andres Construction will lead the overall design/build team, with Architecture Demarest as the lead design firm. Construction is underway, with completion slated for August 2018.
DALLAS — Cushman & Wakefield has arranged the sale of an office building located at 17120 Dallas Parkway in Dallas. The Dallas-based family office of Embrey Interests acquired the 47,423-square-foot property from owner-tenants Loomis Agency and Carbon Cos. The sellers will continue to occupy the building. Beth Lambert and Diego Arroyave of Cushman & Wakefield represented the sellers in the off-market transaction. Additionally, Lambert and Arroyave arranged a 10-year acquisition loan through a life insurance company for the buyer.
PORTLAND, TEXAS — Portland Hospitality LP has opened Home2 Suites by Hilton Portland, located at 139 Buddy Ganem Drive in Portland, located across the bay from Corpus Christi. Managed by ZJZ Hospitality Inc., the 88-room hotel features complimentary breakfast, community spaces, fitness area, outdoor pool, fire pit and barbecue grill area and a business center.