IRVING, GARLAND AND RICHARDSON, TEXAS — NAI Robert Lynn has arranged three leases totaling 244,539 square feet of industrial and office space in Texas. In the first deal, Sonoco Products leased 155,068 square feet of industrial space at the 248,000-square-foot Towne Lake Business Center at 5111 Frye Road in Irving. Rick Medinis of NAI Robert Lynn represented the landlord, Cabot Properties, while Buddy Turner and Chip Watson of Avison Young represented the tenant. In the second deal, True Velocity Inc. inked a lease for 66,270 square feet of office/warehouse space at 1036 Nicholson Road in Garland. Stephen Cooper and John Leinbaugh of NAI Robert Lynn represented the landlord, while Charles Lester of Lester RE Advisers represented the tenant. In the third transaction, Safeguard Properties leased 23,201 square feet of office space at 2400 Lakeside Blvd. in Richardson. Kent Smith of NAI Robert Lynn represented the tenant in the transaction. The name of the landlord was not released.
FARMERS BRANCH, TEXAS — HREC Investment Advisors has brokered the sale of the DoubleTree Dallas Farmers Branch hotel located at 11611 Luna Road in Farmers Branch, a suburb of Dallas. Glacier House Hotels acquired the 160-room property from Presidian Hotels for an undisclosed price. Mike Armstrong of HREC brokered the transaction.
EULESS, TEXAS — Greysteel has secured an undisclosed amount of permanent refinancing for Royal Terrace, a multifamily property located in Euless. The 10-year, non-recourse loan, provided under the Freddie Mac Small Balance Loan program, features a fixed interest rate of 4.24 percent and a 30-year amortization schedule. Anton Mattli, John Marshall Doss and Zach Ghormley of Greysteel negotiated the loan for the borrower, Countrywide Hospitality LLC. Built in 1964, Royal Terrace features 120 units, a swimming pool and an on-site laundry facility.
GARLAND, TEXAS — Lee & Associates has brokered the sale of an industrial building located at 2701 National Drive in Garland, roughly 18 miles northeast of Dallas. An undisclosed buyer acquired the 8,056-square-foot property for an undisclosed sum. Brett Lewis and Taylor Stell of Lee & Associates represented the undisclosed seller, while Dana Duckworth of Coldwell Banker represented the buyer in the deal.
HOUSTON — Boyd Commercial/CORFAC International has arranged a lease for office space at 12 Greenway Plaza in Houston. Comcast of Houston LLC will occupy 18,133 square feet within the 15-story, 254,920-square-foot building. David Boyd of Boyd Commercial/CORFAC represented the tenant, while Warren Savery of Cousins Properties represented the landlord internally in the transaction.
DALLAS — Fox Restaurants Concepts has signed a lease for 5,500 square feet of restaurant space at The Union Dallas. The company plans to open a North Italia restaurant at the location in 2018. The modern, full-service pizza and pasta restaurant will be located on the ground level of the 800,000-square-foot office, residential and retail project in Dallas’ Uptown district. The property is owned by RED Development.
MCKINNEY, TEXAS — Duke Realty and Baylor Scott & White Health, a not-for-profit healthcare system, have opened Baylor McKinney Physician Office Building 2 in McKinney. Located at 5252 W. University Drive, the three-story, 77,000-square-foot building is adjacent to Baylor McKinney I, an 114,924-square-foot medical office building. Affiliates of Baylor Scott & White lease a significant portion of both buildings. The Dallas office of Medco Construction served as general contractor, while the Dallas office of HDR served as architect for the project, which was developed by Duke Realty.
GREENVILLE, TEXAS — Rhino Linings Corp. is relocating its global production and blending headquarters to Greenville. Located at 1001 Ed Rutherford St., the revitalized 100,000-square-foot production plant sits on approximately 100 acres of land. The facility will include a lab, blending and material drumming machinery, large warehouse, showroom and offices. Additionally, the Greenville plant will serve as an industrial coating training facility, hosting hundreds of Rhino Linings customers and prospects interested in applying Rhino Linings products.
SAN ANTONIO — Berkadia has facilitated the sale of Ridge at Southcross, a 212-unit multifamily property located at 4700 Stringfellow Drive in San Antonio. The undisclosed buyer plans to complete the rehabilitation work that the seller started at the property, which was built in 1974. The property features studio, one- and two-bedroom floor plans and a variety of community amenities, including a clubhouse, hot tub, pool, on-site business center, fitness center and clothing care facility. Mike Miller, Chris Ross, Will Caruth and Cody Courtney of Berkadia brokered the transaction. The name of the seller and acquisition price were not released.
WACO, TEXAS — BH Properties has completed the disposition of Waco Commons, a shopping center located at 300 N. Valley Drive and 4125 Franklin Ave. in Waco. B.H. Waco Retail Mills LLC, as the selling entity, sold the property to Johnson Family Shopping Center LLC for $9.7 million. At the time of sale, the 128,769-square-foot property was 82 percent occupied by tenants including Dirt Cheap, Tractor Supply Co., Planet Fitness, Firehouse Subs, CSL Plasma and Brident Dental. Pat Farrar of Reid Co. was the sole broker in the transaction.