Texas

SHOP Cos. Investment Sales Brokers Sale of Retail Center in Metro Dallas

by Haisten Willis November 10, 2014

COPPELL, TEXAS — SHOP Cos. Investment Sale has brokered the sale of Riverchase Plaza, a 21,116-square-foot retail center in Coppell. The property sits 25 miles northwest of downtown Dallas at the corner of Macarthur Boulevard and Belt Line Road. Riverchase Plaza was 94 percent leased at the time of closing to tenants including Bank of America, O’Reilly Auto Parts, Pro-Cuts and Allstate Insurance. Tommy Tucker with SHOP Cos. Investment Sales represented the seller, a Dallas-based LLC. A Florida-based private investor purchased the property.

November 10, 2014

CBRE Arranges 125,000 SF Office Lease in Dallas

by Haisten Willis November 10, 2014

DALLAS — CBRE has arranged the lease of 125,000 square feet of office space to SoftLayer, an IBM Co. SoftLayer will occupy space within the Stanford Corporate Center located at 14001 N. Dallas Pkwy. The firm will relocate its Dallas corporate headquarters in February 2015 from its current location at 4849 Alpha Road. IBM acquired SoftLayer in July 2013. The new headquarters has capacity for more than 700 employees. Clay Vaughn, Steve Rigby and Mike Cleary of CBRE represented SoftLayer in the transaction. Brooke Scheurich and Fred Noblett of CBRE’s project management team are guiding the design service selection and construction process for SoftLayer’s new office. Jerry Averyt and Greg Trout of Henry S. Miller Cos. represented the landlord, TCI Stanford LLC.

November 10, 2014

Multifamily Texas

M&M Arranges Sale of 77-Unit Apartment Complex in Fort Worth

by Haisten Willis November 10, 2014

FORT WORTH — Marcus & Millichap has arranged the sale of Travis Gardens, a 77-unit apartment property located in Fort Worth. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, NSpire Assets. Silva also secured the buyer, a private investor. The new owner assumed an existing Fannie Mae loan to acquire the property. Travis Gardens is located at 2901 Travis Ave. and is near Texas Christian University and JPS Hospital.

November 10, 2014

Office Texas

Angelic Arranges Financing for Office Building Acquisition in Houston

by Haisten Willis November 7, 2014

HOUSTON — Angelic Real Estate has arranged financing for the sale of 4801 Woodway, a 220,583-square-foot office building in Houston’s Galleria submarket. The building was 48 percent occupied at the time of the acquisition and is in the middle of a renovation. The property was purchased from a special servicer, having been foreclosed on from a previous tenant in common ownership.

November 7, 2014

Retail Texas

M&M Arranges Sale of Retail Facility in Wichita Falls

by Haisten Willis November 7, 2014

WICHITA FALLS, TEXAS — Marcus & Millichap has arranged the sale of Crossroads Center, an 85,385-square-foot retail property in Wichita Falls. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a partnership. Chance Hales of the firm’s Fort Worth office represented the buyer, a limited liability company. Crossroads Center is located at 2708 Southwest Parkway. The property sits on 7.8 acres with 450 feet of street frontage.

November 7, 2014

Office Texas

Bright Realty Brokers Sale of Former Headquarters in Metro Dallas

by Haisten Willis November 7, 2014

LEWISVILLE, TEXAS — Bright Realty has brokered the sale of the company’s former headquarters located at 4228 N. Central Expressway in Lewisville, a Dallas suburb. The four-story mid-rise, known as the Bright Building, spans 54,000 square feet with three levels of underground parking. Nathan Denton of Lee & Associates represented the buyer, Caddo Holdings, in the transaction. Shawn Hall of Bright Realty worked on behalf of the seller. The building is located on the east side of Central Expressway and served as the corporate headquarters of Bright Realty for more than 12 years. The company relocated to a brand-new office in Castle Hills, a master-planned community in Lewisville developed by Bright Realty in 2013.

November 7, 2014

Multifamily Texas

BMC Provides $1.9M Loan for Apartment Complex in Austin

by Haisten Willis November 7, 2014

AUSTIN — BMC Capital’s Austin office has arranged a $1.9 million loan for the acquisition of a 42-unit apartment complex in Austin. The seven-year, fixed-rate loan includes a 4.75 percent interest rate and a 30-year amortization schedule. Patrick Short of BMC’s Austin office arranged the loan through a local bank.

November 7, 2014

Texas

RCM Arranges Sale of Land for Church Building in Metro Dallas

by Haisten Willis November 7, 2014

LEWISVILLE, TEXAS — Realty Capital Management has arranged the sale of 4.3 acres in the Dallas suburb of Lewisville to The Door Church. The church will be moving from its current location in Coppell and building a new worship center to accommodate its growth. Mark Boone of Realty Capital Management represented the unnamed seller in the transaction. John Muzyka of Service Realty represented the buyer.

November 7, 2014

Multifamily Texas

Grandbridge Arranges Construction Financing for Apartments in Houston

by Haisten Willis November 6, 2014

HOUSTON — Grandbridge Real Estate Capital has arranged construction financing for The Hamilton Apartments, a planned complex in Houston’s central business district, on behalf of a local partnership. Gill Dolan of Grandbridge originated the transaction. The Hamilton Apartments will be located at the southern end of downtown Houston. The complex will feature 148 units with five stories of residential units over a two-story parking garage.

November 6, 2014

Industrial Texas

M&M Arranges Sale of Self-Storage Facility in Orange

by Haisten Willis November 6, 2014

ORANGE, TEXAS — Marcus & Millichap has arranged the sale of Affordable Storage, a 23,340-square-foot self-storage facility located in Orange. Danny Cunningham and Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Cunningham also secured the buyer, another private investor. Affordable Storage is located at 19238 Texas 62. The property was built in 2003 and was expanded in 2004 and 2005. The property features a manager’s office, perimeter fencing and lighting, garage-style roll up doors, personalized keypad entry, video surveillance and concrete driveways. Affordable Storage is comprised of 124 climate-controlled units, 9 enclosed RV parking units and 5 covered RV parking spaces. It is 91 percent occupied.

November 6, 2014

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