AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of Laurel Woods, a 150-unit multifamily property in Austin. Located at 8312 Fathom Circle, the community includes studio, one- and two-bedroom apartments, as well as picnic areas, a swimming pool, fitness center and dog park. The complex is in proximity to U.S. Route 183. Joe James and Kent Myers of Marcus & Millichap brokered the sale between the seller, a publicly traded real estate investment trust, and the buyer, a Texas-based limited partnership.
Texas
SAN ANTONIO — Hilton Worldwide has opened the new 111-suite Home2 Suites by Hilton San Antonio Airport, the second Home2 Suites brand hotel in the San Antonio metro area. The four-story property is in proximity to the San Antonio International Airport, as well as the River Walk, SeaWorld San Antonio, Six Flags Fiesta Texas and the AT&T Center. Located at 94 N.E. Loop 410, the hotel features a fitness center, laundry center, heated outdoor pool, fire pit and complimentary breakfast. Baywood Hotels owns and manages the property. Hilton plans to open five additional Texas locations of the Home2 Suites brand by the end of this year.
GARLAND, TEXAS — Lee & Associates has arranged a 35,405-square-foot industrial lease in the Dallas/Fort Worth suburb of Garland for Digitek Computer Products, a distributor of technology products. The tenant will occupy space at 3901 W. Miller Road, in proximity to I-635. Nathan Denton of Lee & Associates represented Digitek in the negotiations. Stephen Cooper of NAI Robert Lynn represented the landlord, First Industrial Realty Trust.
DENTON, TEXAS — Cadence McShane Construction Co. has completed the renovation and expansion of Golden Triangle Mall in the Dallas/Fort Worth suburb of Denton. The project included upgrades to the 765,000-square-foot property’s flooring, skylights, seating areas, main entryway, parking areas and landscaping, as well as the addition of an outdoor courtyard and 8,009-square-foot food court. Located at the interchange of I-35 and Loop 288, Golden Triangle Mall houses anchors Dillard’s, Macy’s, JC Penney and Sears, as well as more than 70 specialty stores. GTM Development Ltd., a joint venture between Cencor Realty Services and The MGHerring Group, acquired the property in 2011 and hired Cadence McShane for the project. C.M. Architecture P.A. provided architecture services for the renovation, and Brockette/Davis/Drake Inc. served as civil engineer.
RICHARDSON, TEXAS — Wasa Properties has acquired Arapaho Village Shopping Center, a 103,033-square-foot shopping center in the Dallas/Fort Worth suburb of Richardson. Located at 819 W. Arapaho Road, the property is home to anchor Tom Thumb, as well as Tuesday Morning, Hallmark, Papa John’s, The UPS Store, State Farm and H&R Block. CW Capital sold the asset. New York-based Wasa Properties purchased the center through Auction.com.
COLLEGE STATION, TEXAS — Transwestern has brokered the sale of Casa del Sol Apartments, a 116-unit student housing property in College Station. Located adjacent to the Texas A&M University campus, the complex offers one- and two-bedroom residences, as well as a laundry facility and swimming pool. Jeff Rogers and Chris Stutzman of Transwestern represented the seller, Tennessee-based real estate investment company Colorado Holdings & Management, in the transaction. A Dallas-based investment and development firm acquired the property.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. has arranged an $8.3 million loan on behalf of an unnamed buyer for the acquisition of a 112,000-square-foot flex property in northwest Houston. Archer Well Co., a service and materials provider in the oil and gas industries, fully occupies the facility. Ray Driver III, Matt Franke and Travis Fite of Q10 | KDH closed the non-recourse loan within 44 days.
HOUSTON — HFF has brokered the sale of a 308-unit multifamily property in Houston formerly known as The Retreat at City Park. Alliance Residential Co. acquired the Class A property and has rebranded it City Park. Completed in 2003, the community is located at 1640 East T.C. Jester Blvd. and offers one- to three-bedroom apartments averaging 836 square feet in size. The asset was fully occupied at the time of the sale. Todd Marix, Todd Stewart, Chris Curry and Tre Banks of HFF represented the seller, San Antonio-based Fulton Property Group LLC, in the transaction. Colby Mueck led HFF’s debt placement team in arranging acquisition financing for the buyer.
HOUSTON — Panattoni Development Co. has broken ground on a 135,000-square-foot speculative office building at its Beltway 8 Corporate Centre complex in northwest Houston. The Class A structure will feature a two-story lobby. Beltway 8 Corporate Centre, located on Beltway 8 just north of Clay Road, currently consists of eight buildings that are more than 99 percent occupied. Arch-Con is the design-builder on the new project, while Powers Brown provides further project design services.
AUSTIN, TEXAS — Developer Long View Equity Partners Ltd. has completed a new two-building, 24,000-square-foot office complex in Austin. Located near the Cedar Park Regional Medical Center, the facilities offer space to professional and medical office tenants in floorplates as small as 1,250 square feet. Brian Novy of The Brian Novy Co. is handling leasing for the property. Locally based Cornerstone Architects designed the complex, and Sun Builders Co. of Houston served as general contractor.