AUSTIN, TEXAS — Strategic Hotels & Resorts has purchased the Four Seasons Austin hotel for $197 million. The 291-room hotel is located on 2.3 acres overlooking Lady Bird Lake in the midst of the Central Business District of Austin. The hotel features 28 suites, 18,000 square feet of indoor meeting space, two food and beverage outlets and a 5,500-square-foot spa. Strategic Hotels & Resorts Inc. is a real estate investment trust that owns and provides value-enhancing asset management of high-end hotels and resorts in the United States and Europe. The company has ownership interests in 19 properties with a total of 8,616 rooms and 893,000 square feet of multi-purpose meeting and banqueting space.
FORT WORTH, TEXAS — Victory Real Estate Group, a commercial development and investment firm based in Dallas, has acquired an 18.5-acre tract of land at the corner of Eastchase and I-30. Located in Fort Worth, Victory at Eastchase will be a mixed-use retail development featuring six-pad sites, which will include two hotels, one big box retailer and up to 50,000 square feet of additional retail space. Construction will begin in the near future on Victory at Eastchase with completion expected by the end of 2016.
FORT WORTH, TEXAS — Bill Bledsoe of Henry S. Miller Brokerage’s Investments and Land Division has brokered a 174.6-acre land transaction in Fort Worth. Chief Resources LP sold the land, located at 10390 Hicks Field Road off Business 287, to Hicks Field Ltd., a local development partnership. Robert Grunnah of Novus Realty Advisors co-listed the property.
TEXARKANA, TEXAS — Marcus & Millichap has arranged sale of a Save-A-Lot grocery retail center, a 37,909-square-foot property in Texarkana. Jason Vitorino and Michael Austry of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. The shopping center is located at 2808 New Boston Road, less than two miles from I-369. Built in 2005, the asset is situated on approximately four acres in Bowie County. The shopping center was 70 percent occupied at the time of sale.
KATY, TEXAS — Inland Real Estate Income Trust Inc. has acquired the 147,658-square-foot Green Tree Shopping Center in Katy. Sharon Anderson-Cox and Matthew Tice of Inland Real Estate Acquisitions arranged the purchase of the property on behalf of Inland Income Trust. Located at 231 S. Fry Road, Green Tree Shopping Center is 99.1 percent leased to tenants including T.J. Maxx, PetSmart, Ulta and Party City. The property is shadow-anchored by a Target.
CARROLLTON, TEXAS — Japan-based Daiso will open at NewQuest Properties’ development of Carrollton Town Center. The 11,000-square-foot location will be Daiso’s first store in Texas and will carry dining, kitchen, living, bath and stationery merchandise, 99 percent of which is developed in-house. Daiso operates 3,300 stores worldwide with a total of 44 stores in the United States, and plans to open 20 stores throughout Texas. The Carrollton store is scheduled to open this summer. Carrollton Town Center is located at the intersection of President George Bush Turnpike and Old Denton Road. Carrollton Town Center is undergoing a $7 million facelift and will be anchored by a new 99 Ranch Market. The development will feature Asian restaurants and retailers such as Gen Korean, Kung Fu Tea and Dan Sung Sa.
LEWISVILLE, TEXAS — Bright Realty has brokered the sale of 5.6 acres in Lewisville in the Castle Hills area. The company owned 19 acres of SH 121 frontage road property adjacent to Nebraska Furniture Mart and has sold the final acreage to Unser Racing for an indoor go-cart racing and events center. Tim McNutt and Britton Lankford of Bright Realty brokered the sale for Bright Realty. Forshey Hoobler and Craig Phelps of JLL represented the buyer.
HOUSTON — SurePoint Self Storage will open a third property in the Houston market. This summer the SurePoint team will begin construction on a Class A, three-story building that will include 123,000 square feet. The two-acre property is located on Barker Cypress Road, south of US 290. In addition, the three San Antonio-based developers are poised to begin construction in the next 60 days on two Class A multi-story facilities in the Houston market, one is a three-story, 110,000-square-foot facility on Spring Cypress Road just east of Grant Road in Cypress, and the other is a four-story building in Richmond near Highway 59 and the Grand Parkway. SurePoint Self Storage has just completed two new projects in San Antonio and a third is under construction.
CONROE, TEXAS — Harmony Housing, a non-profit organization that owns and acquires affordable multifamily housing in the U.S., has acquired the Park Village apartment complex in Conroe. The company aims to grow its affordable rental housing properties and provide safe and affordable housing across the country. The organization’s proceeds are reinvested into its property portfolio or distributed to the broader community through charitable giving. Harmony Housing was originally founded as a philanthropic effort of Stephen Rosenberg, founder of Greystone & Co., a real estate lending, investment and advisory company.
PLEASANTON, TEXAS — Franklin Street Real Estate Services has arranged STL Retail Properties’ $3.2 million purchase of Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton. Bryan Belk of Franklin Street’s Atlanta office represented the buyer in the transaction. Pleasanton Plaza, located at 1715 W. Oaklawn Road, is fully occupied by Bealls and Tractor Supply. The buyer plans to hold the property long-term.