SOUTHLAKE, TEXAS — Marcus & Millichap has arranged the sale of Kirby’s Steakhouse, a 7,900-square-foot net-leased property in Southlake. The property is located at 3305 E. State Highway 114 in Southlake, just south of East Southlake Boulevard. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Vitorino also procured the buyer, a local private investor. The transaction resulted in the investor leasing the property back to the seller and a new 20-year net lease was executed at the close of escrow.
Texas
BEE CAVE, TEXAS — UCR has been awarded project leasing and management of retail for Hill Country Galleria, a 1.3 million-square-foot mixed-use development in Bee Cave. Peloton Commercial Real Estate handles the office leasing assignments. The property is located at the intersection of Highway 71 and Bee Cave Road just west of Austin with tenants including Dillard’s, Whole Foods Market and Dick’s Sporting Goods. Hill Country Galleria also includes a 14-screen Cinemark Theatre and an open amphitheater. The 257,000 square feet of Class A office space is home to the corporate headquarters of American Campus Communities, Summit Hotel Corp., Wilson Art International and True Car. The Avanti Hills apartment complex is also located on the property. Jack Breard and J. Michael Nagy of UCR Urban will lease the center’s retail space. Scott Weaver and Lori Weisenborn of UCR Asset Services will lead management of the retail assets.
RICHARDSON, TEXAS — Spear Street Capital has acquired the Galatyn Park Office Portfolio, an 800,000-square-foot, four-building office campus located in the Galatyn Park mixed-use development in Richardson. The development currently includes 600,000 square feet of available office space. Galatyn Park is an 80-acre, mixed-use development located in central Richardson. Construction on the Galatyn Park office portfolio began in 1997 and now includes a 336-room Renaissance Hotel, a performance arts center, nature preserve, 285-unit apartment complex and the 1 million-square-foot Blue Cross Blue Shield headquarters. Galatyn Park is served by a DART light rail station and is adjacent to the 186-acre CityLine mixed-use development.
DALLAS — NXT Capital has provided a $23 million first mortgage to finance the acquisition of a 495-unit, Class B apartment complex in Dallas. The property includes studio, one- and two-bedroom apartments with balconies or patios as well as a clubhouse and pool, cyber café, gym and business center.
MANSFIELD, TEXAS — SHOP Cos. Investment Sales has arranged the sale of Matlock Center, a 40,027-square-foot shopping center shadow-anchored by a Walmart Neighborhood Market in Mansfield. The property is 40 miles southwest of downtown Dallas at the intersection of Matlock Road and Debbie Lane. At the time of closing, Matlock Center was 90 percent leased to tenants including Subway, Pizza Hut, Great Clips, Liberty Tax Service, Advance America and No Frills Grill. Tommy Tucker of SHOP Cos. Investment Sales represented the seller, a Dallas-based limited liability company. The buyer was an Arlington-based limited liability company.
FORT WORTH — Marcus & Millichap has arranged the sale of Ridgmar Square, a 24-building, 332-unit apartment complex in Fort Worth. Al Silva of Marcus & Millichap’s National Multi Housing Group in Fort Worth marketed the property on behalf of the seller, a private investor from Washington State. Silva also secured the buyer, a Texas-based investment group. Ridgmar Square is located at 2508 Ridgmar Blvd. in Fort Worth. The complex is located 10 miles west of downtown Fort Worth along I-30. Amenities include two pools, a clubhouse, gym and access gates.
HOUSTON — Big Brothers Big Sisters Lone Star has purchased a site near downtown Houston for its new headquarters. The site, totaling 23,505 square feet, is located at 1003 Washington Ave. An existing building on the site will be demolished to make way for the headquarters. Randy Hopper of The Weitzman Group negotiated the sale on behalf of Big Brothers Big Sisters Lone Star. Big Brothers Big Sisters is leaving their current headquarters in the Sharpstown area of Southwest Houston, which has already been sold.
DALLAS — Henry S. Miller Brokerage’s multifamily investment team has arranged the sale of High Point Centre, a 257,099-square-foot office building in Dallas. High Point Ricchi LLC purchased the building, which is located at 12225 Greenville Ave. Lew Wood, Andrew Doster and Darden Orand of Henry S. Miller represented the buyer. Eric Mackey and Gary Carr of CBRE represented the seller, Riversource REO 1 LLC.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Holiday Inn Express & Suites San Antonio South, a 66-room hospitality property. The property is located at 11400 Southeast Loop 410 in San Antonio. The three-story hotel was built in 2008 near downtown San Antonio and the San Antonio International Airport. Allan Miller, Robert Arzola and Chris Gomes of Marcus & Millichap’s San Antonio and Dallas offices marketed the property on behalf of the seller, a limited liability company. Miller also represented the buyer, another limited liability company.
SAN ANTONIO & SPRING, TEXAS — The Woodmont Co. has arranged two, five-year leases with Altitude Trampoline Park for new locations in San Antonio and Spring. Joseph Williams of The Woodmont Co. represented the tenant, Altitude Trampoline Park, in both transactions. The company will occupy 27,428 square feet at Heubner Oaks Shopping Center in San Antonio and 41,000 square feet at Spring Cypress Shopping Center in Spring. Both locations are under construction and plan to open late this year.