Texas

ARA Newmark Brokers Sale of Apartment Complex in Metro Dallas

by Haisten Willis March 23, 2016

RICHARDSON, TEXAS — ARA Newmark has brokered the sale of Jefferson Center, a new 360-unit, Class A apartment community in the Dallas suburb of Richardson. The property was 94 percent occupied at the time of sale. ARA Newmark’s Richard Furr, Brian O’Boyle Sr., Brian Murphy and Brian O’Boyle Jr. represented seller, JPI, in the transaction. California-based buyer Frankel Family Trust plans to rename the community Estates of Richardson. The Frankel Family Trust is adding a lighted tennis court and community building that will contain an indoor basketball court, racquetball court, fitness areas and table tennis. Constructed in 2015 by JPI, Jefferson Center fronts the George Bush Turnpike/Highway 190 and features a swimming pool with water features, two playgrounds, a jogging path, bocce ball court, horseshoe pit, sand volleyball court, dog park and an outdoor theater. Units average 943 square feet and feature one-, two- and three-bedroom options.

March 23, 2016

BMC Capital Provides $1.2M Acquisition Loan for Apartment Property in Temple

by Haisten Willis March 23, 2016

TEMPLE, TEXAS — Hank Crane of BMC Capital’s Austin office has arranged a $1.2 million loan for the purchase of Silver Park Apartments, a 48-unit multifamily property located in Temple. The loan features a seven-year term with a 4.6 percent fixed interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s corresponding agency relationships.

March 23, 2016

Loans Retail Texas

Metropolitan Capital Advisors Arranges $2.6M Construction Loan for Retail Center in Roanoke

by Haisten Willis March 23, 2016

ROANOKE, TEXAS — Metropolitan Capital Advisors has arranged a $2.6 million construction loan for a 24,000-square-foot retail center located within the Roanoke Crossing Power Center in Roanoke. Walmart and Home Depot anchor the power center. The project is 100 percent pre-leased to Dollar Tree and PetSmart. Roanoke Crossing was originally developed in the early 2000s. The adjacent land tract was the final phase of the project. The project is located at the intersection of U.S. Highway 377 and Texas Highway 114, which has a combined traffic count of 155,000 vehicles per day.

March 23, 2016

Multifamily Texas

IPA Brokers Sale of 189-Unit Apartment Complex in Fort Worth

by Haisten Willis March 23, 2016

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of AMLI 7th Street Station, a 189-unit apartment community in Fort Worth. Will Balthrope, Drew Kile and Rowan Burch of IPA represented the seller, AMLI Residential Properties, and procured the buyer, Fort Worth-based Olympus Property. AMLI 7th St. Station is located at 2601 W. 7th St. AMLI 7th Street apartments feature nine-foot ceilings with crown molding and full-size washer and dryer connections. Select units feature Travertine wood-burning fireplaces with mantels. Community amenities at AMLI 7th Street include a one-acre dog park, pool and heated spa, media center and garden-style courtyards.

March 23, 2016

grand-parkway-marketplace-spring-texas-kimco

Retail Texas

Kimco to Break Ground on Grand Parkway Marketplace in Metro Houston

by Haisten Willis March 22, 2016

SPRING, TEXAS — Kimco Realty Corp. is set to break ground in April on Grand Parkway Marketplace, a planned 450,000-square-foot shopping center development in Spring anchored by Target. About 75 percent of the retail space is pre-leased, including eight leases with national junior anchors. The groundbreaking ceremony will take place Thursday, April 7 at 10 a.m. CDT. Grand Parkway Marketplace will be located at the corner of Kuykendahl and Spring Stuebner roads. The ceremony will be open to the public.

March 22, 2016

Office Texas

Younger Partners Arranges Trio of Office Leases in Metro Dallas

by Haisten Willis March 22, 2016

DALLAS, IRVING and GARLAND, TEXAS — Younger Partners has arranged three office leases in the Dallas area. In the first transaction, Neligan Foley LLP renewed its 11,374-square-foot, full-floor lease at Republic Center, located at 325 N. St. Paul St. in Dallas. Dan Woldert of Swearingen Realty Group represented the tenant. Trae Anderson, Kathy Permenter and Sarah Savage at Younger Partners represented the landlord. In the second transaction, SilverXis leased 4,000 square feet at The Offices at Cimarron Trail, located at 305 Cimmaron Trail in Irving. Byron McCoy and Ally Price at Younger Partners handled the lease negotiations. In the third transaction, Ortiz Law Firm leased 2,243 square feet at 3200 Broadway Blvd. in Garland. Zach Stevens of NAI Robert Lynn represented the tenant. Anderson and Savage of Younger Partners represented the landlord.

March 22, 2016

Retail Texas

Shop Cos. Secures Sale of Three Texas Retail Properties Totaling 55,645 SF

by Haisten Willis March 22, 2016

FORT WORTH, HARLINGEN and SHERMAN, TEXAS — SHOP Cos. Investment Sales has secured the sale of three retail properties in Texas totaling 55,645 square feet. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the sellers in each transaction. The first is Rosedale Plaza, a 21,602-square-foot, newly renovated retail center located in Fort Worth. The property is located 10 miles southeast of downtown Fort Worth at the northeast corner of Rosedale Street and Ayers Avenue. At the time of closing, Rosedale Plaza was 94 percent leased to tenants including Family Dollar, Cricket Wireless, La Familia Insurance, Rosedale Laundry, Hernandez Mexican Food and Dr. Aaron Salmon, D.D.S. SHOP Cos. represented the seller, a Dallas-based limited liability, in the transaction. A private limited liability company from west Texas was the buyer. The second transaction was Ed Carey Plaza, a 23,243-square-foot shopping center located in Harlingen. At the time of closing, the property was 100 percent leased to tenants including T-Mobile, Marble Slab Creamery, Quizno’s, Wing Barn, Advance America, Sun Loan and Sylvan Learning Center. Ed Carey Plaza is located along North Ed Carey Drive. SHOP Cos. represented the seller, a Dallas-based limited liability company, and procured the buyer, a limited partnership from …

March 22, 2016

Restaurant Retail Texas

Perry’s Steakhouse & Grille to Open New Location in Metro Dallas

by Haisten Willis March 22, 2016

GRAPEVINE, TEXAS — The award-wining Perry’s Steakhouse & Grille will open a new location in Grapevine. Once completed in 2017, the 10,000-square-foot restaurant will be located at 2400 W. State Highway 114 and will be the first in Tarrant County. Perry’s owns and operates two other steakhouses in the Dallas metro area — Uptown and Frisco.

March 22, 2016

Industrial Texas

Big Space Storage Opens in North Houston

by Haisten Willis March 22, 2016

HOUSTON — Real estate professionals Jay Holland and Jim McCartney have opened a Big Space Storage location at 11847 Spears Road in Houston. The property consists of 270 units and features wide driveways for easy maneuverability, monitoring and pull-through capability in select units. Big Space Storage also includes an onsite leasing and management office and a manager’s apartment. Several other Big Space Storage brand sites are under consideration in other parts of Houston.

March 22, 2016

Retail Texas

Lowe’s to Build 100,000 SF Store at The Shoppes at Cinco Ranch in Metro Houston

by Haisten Willis March 21, 2016

KATY, TEXAS — Lowe’s Cos. will build a 100,000-square-foot Lowe’s Home Improvement store at The Shoppes at Cinco Ranch in Katy. Thor Equities is developing retail stores and restaurant spaces throughout the remainder of the 35-acre property. Current tenants at The Shoppes at Cinco Ranch include Walgreens, with Kroger and Academy Sports + Outdoors located across the street. The Shoppes at Cinco Ranch is accessible via the Westpark Tollway and bisected by Spring Green Boulevard, with parking and sidewalks throughout the property. Nearby amenities include several golf courses, more than 100 neighborhood parks, a beach club, water park and more than 100 miles of hiking and biking trails.

March 21, 2016

Newer Posts

Older Posts