Texas

JLL Arranges Sale of Access Self Storage Facility in Houston

by Katie Sloan June 28, 2016

HOUSTON — JLL has arranged the sale of a 94,475-square-foot Access Self Storage facility located at 650 Bay Area Blvd. in Houston. The Class A property opened in 2015 and is comprised of one three-story self-storage building consisting of 800 climate-controlled units and 39 non-climate controlled units. The facility, acquired by Simply Self Storage, offers 24-hour video surveillance and a customer service office designed for retail sales. Steve Mellon and Brian Somoza of JLL brokered the sale, and Griffin Guthneck of JLL secured acquisition financing on behalf of the buyer. The seller was undisclosed.

June 28, 2016

Vitorino Group Brokers Sale of McDonald’s Ground Lease in Frisco

by Katie Sloan June 28, 2016

FRISCO, TEXAS — The Vitorino Group has arranged the sale of a freestanding retail property ground leased to McDonald’s in Frisco. The restaurant is located on Custer Road near State Highway 121 and will eventually serve as an outparcel to a Walmart Supercenter. The buyer, a Canadian doctor, purchased the McDonald’s from a local partnership for an undisclosed price. The Vitorino Group represented the seller, and an unnamed broker based in Dallas secured the buyer.

June 28, 2016

Multifamily Oklahoma Seniors Housing Texas

Ziegler Closes $111M in Bond Financing for Construction of CCRC in Oklahoma

by Katie Sloan June 27, 2016

STILLWATER, OKLA. — Ziegler, a specialty investment bank, has arranged $111 million in tax-exempt bonds for Epworth Living at The Ranch, a continuing care retirement community (CCRC) in Stillwater, approximately 60 miles north of Oklahoma City and west of Tulsa. Local nonprofit operator Epworth Living is developing the 380,000-square-foot community on a 55-acre site near Oklahoma State University. When completed, The Ranch will consist of 114 independent living apartments, 23 independent living villas, 48 assisted living apartments, 20 memory support suites, and 40 skilled nursing beds. The Ranch was 70.1 percent pre-leased at the time of the bond issue. The bonds will be used to fund the construction and development of the community, refinance a $6.8 million predevelopment loan, fund interest for two years, establish debt-service reserve funds and pay a portion of issuance costs. Epworth Living is contributing $2 million in equity to the financing. The Weitz Company will serve as the construction manager for the project.

June 27, 2016

Restaurant Retail Texas

Dallas Cowboys, Legends Hospitality to Open Stadium Club Restaurant at AT&T Stadium

by Katie Sloan June 27, 2016

DALLAS — The Dallas Cowboys and Legends Hospitality will open the Stadium Club at AT&T Stadium this fall. The 19,000-square-foot restaurant will be open daily for lunch and dinner, serving as a place for visitors to dine before or after touring the building. The Stadium Club will be located just inside the stadium’s main entrance next to the Cowboys Pro Shop, and will host up to 650 guests. The space will feature a seamless video wall surrounding each bar, a video wall behind the host stand and 20 flat-screen televisions. Game day dining memberships will be offered at the stadium, and will provide an exclusive, members only, all-inclusive dining experience to season ticket holders and suite holders during Dallas Cowboys home games.

June 27, 2016

Industrial Texas

Miltech Business Center in Fort Worth Sells to a Personal Trust

by Katie Sloan June 27, 2016

FORT WORTH, TEXAS— Miltech Business Center, a 21,350-square-foot, multi-tenant industrial property located in Fort Worth, has been sold. The property, built in 2003, is currently fully occupied and offers units with exterior drive-up doors and 18-foot ceilings. Cody Payne of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed private investor. Payne also secured the buyer, an undisclosed personal trust, in the transaction.

June 27, 2016

Office Texas

Marcus & Millichap Brokers Sale of Flex Office Building in Dallas

by Katie Sloan June 27, 2016

DALLAS — Marcus & Millichap has brokered the sale of a 20,000-square-foot flex office property located at 14209-14223 Proton Road in Dallas. Built in 1973 and renovated in 2010, the single-story asset features an exterior loading dock with 14-foot ceilings. The property was 88 percent leased at the time of sale. Ron Hebert and Joe Santelli of Marcus & Millichap’s Dallas office represented the seller, an international limited liability company, in the transaction. The buyer, a limited liability company, purchased the property in a reverse 1031 exchange.

June 27, 2016

Office Texas

Investcorp Selects Transwestern to Lease One Westchase Center in Houston

by Katie Sloan June 27, 2016

HOUSTON — New York-based owner Investcorp has tapped Transwestern to lease One Westchase Center, a 466,000-square-foot office building located at 10777 Westheimer Road in Houston’s Westchase Business District. Doug Little, Louann Paereira and Amanda Lee App of Transwestern will lead the leasing efforts. The Class A office building features a fully furnished conference facility, fitness center with men’s and women’s showers, deli, 24-hour security and on-site property management.

June 27, 2016

Multifamily Texas

Greysteel Arranges Sale of Midpark Towers in Dallas

by Haisten Willis June 24, 2016

DALLAS — Greysteel has arranged the sale of Midpark Towers, a 202-unit multifamily property located in Dallas. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson arranged the transaction. Midpark Towers, built in 1978, is a mid-rise property comprising a 10-story tower and an 11-story tower. The property is located at 8550 Midpark Road.

June 24, 2016

Office Texas

LegacyTexas to Move Corporate Banking Team to Sterling Plaza Office Tower in Dallas

by Haisten Willis June 24, 2016

DALLAS — LegacyTexas bank has leased 20,343 square feet of office space in Sterling Plaza, a Class A office tower located at 5949 Sherry Lane in Dallas. The deal will relocate the bank’s Preston Center corporate banking office. As part of the deal, LegacyTexas will occupy an entire floor inside the 19-story office building, located between the Dallas North Tollway and U.S. Highway 75. Cushman & Wakefield’s Bill McClung and Robbie Baty represented LegacyTexas in the lease transaction. Seth Thatcher, Dennis Barnes, Celeste Fowden and Alexandra Jennings of CBRE represented the landlord, KBS.

June 24, 2016

Healthcare Industrial Office Texas

CBRE Brokers Sale of 11.8-Acre Site in Fort Worth for Reinvestment

by Haisten Willis June 24, 2016

FORT WORTH, TEXAS — CBRE has brokered the sale of an 11.8-acre site with multiple buildings at 7100 Oakmont Blvd. in Fort Worth. The asset includes a 113,000-square-foot former hospital building and a 12,000-square-foot former power plant. Fort Worth-based TCRG Properties LLC purchased the site for an undisclosed price with a plan to redevelop the assets for lease. The property, formerly occupied by Baylor All Saints Medical Center, is located in southwest Fort Worth. Inwood Bank provided acquisition financing. Bob Scully and Nanci Johnson-Plump with CBRE’s Fort Worth office represented the seller, Rainier Realty Investments. Ryan Wood with TCRG represented the buyer internally.

June 24, 2016

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