PECOS, TEXAS — The Sperry Van Ness National GSA Team of Mark Phillips and Tim Strange has arranged the $4 million sale of a federal courthouse in Pecos. Phillips and Strange represented the property seller, Oklahoma-based Dominion Group, in the transaction. Bruce Marshall of Sperry Van Ness/Datavest Inc. represented the buyer, UIR, a private equity group. The 41,146-square-foot, two-story courthouse is located at 410 S. Cedar and encompasses an entire city block.
LITTLE ELM, TEXAS — The Weitzman Group has brokered the sale of The Village at Eldorado, a 59,820-square-foot neighborhood center located at 2831 W. Eldorado Parkway in Little Elm, bordering Frisco. The center's tenant roster includes CVS/pharmacy, Starbucks, Capital One Bank, Dickey's Barbeque Pit, Mooyah's Burgers, Pick Six Bar & Grill, The Marble Slab, The UPS Store, Mexigo and Orange Leaf Yogurt. Greg McDonald of The Weitzman Group represented the buyer, Marque Enterprises LLC, an investment group based in California. Joe Wojdowski of San Diego-based Epsteen & Associates also represented the buyer in the transaction. James Hancock of Dallas-based Sperry Van Ness | Hancock represented the seller, CMC LP.
EL PASO, TEXAS — Dallas-based Venture Commercial Real Estate arranged two lease transactions for retailers expanding into El Paso retail centers. Bryan Cornelius and Chris Corbin of Venture Commercial represented teen fashion retail rue21 in its 5,000-square-foot lease at El Paseo Marketplace, located at 1846 Joe Battle Blvd. The landlord, River Oaks Properties, was self-represented. The new rue21 will be the retailer's fourth store in El Paso. Additionally, Larry Leon and Ross McCook of Venture represented Jared, The Galleria of Jewelry in its 6,057-square-foot lease at The Fountains at Farah, a 600,000-square-foot open air lifestyle center, located at the northeast corner of Interstate 10 and Hawkins Boulevard. Leon and McCook worked alongside Herbert Prince and Stu Solomon of Pacific Realty Partners in representing the tenant. Walt Davis of Centergy Retail LLC represented the landlord.
DALLAS — SRS Real Estate Partners and Cresa have signed an agreement to form a new company to perform lease administration services for office, industrial and retail clients. The new company will be known as SRS-Cresa Lease Administration LLC. The arrangement allows Cresa to provide retail services to its office and industrial clients, and it provides SRS's retail clients with experience in the office and industrial sectors. The new company will provide services including critical data management, CAM audits and occupancy cost reconciliations. The new company will operate out of the established offices in Dallas and Chicago.
PASADENA, TEXAS — Silver Eagle Distributors has begun construction on a $25 million Anheuser-Busch distribution center in Pasadena. The 400,000-square-foot facility will be located at 3503 Pasadena Freeway. Silver Eagle expects to wrap up construction in the second quarter of 2014. The new facility will be able to handle the distribution of 6 million to 8 million cases of beverages annually. The Pasadena facility is Silver Eagle's eighth Anheuser-Busch distribution center in Texas and is expected to employ 200 people.
RED OAK, TEXAS — KBR Building Group has been awarded a design/build contract to construct a 730,000-square-foot aircraft manufacturing facility in Red Oak. Triumph Aerostructures-Vought Aircraft Division, a subsidiary of Triumph Group Inc., awarded the contract to KBR Building Group. The assembly and composites fabrication facility will handle the manufacturing of aerostructures for commercial, military and business jet aircraft. Site work is underway and occupancy is slated to begin in the second half of 2013.
GARLAND, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 235,000-square-foot industrial facility, located at 1111 S. Shiloh Road in Garland. Greg Trout and Jerry Averyt of Henry S. Miller handled the marketing and sales negotiations for the seller, Grand Six LLC. Jack Godhwani of Beam Real Estate represented the buyer, an owner/user that will use the property as the Dallas headquarters for a commercial copier refurbishing business.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of the 240-unit Austin Commons, an apartment complex located at 1630 Rutland Drive in north central Austin. The complex was built in 1971 and includes two swimming pools, a clubhouse, business center, fitness center, picnic areas and on-site laundry facilities. Joe James and Kent Myers of Marcus & Millichap's Austin office represented the seller, a California-based partnership, in the transaction. The buyer is also a California-based partnership.
FORT WORTH, TEXAS — NAI Robert Lynn has arranged the purchase of 39,750 square feet of office/warehouse space at 1201 and 1225 Forum Way S. in Fort Worth. Michael Newsome of NAI Robert Lynn represented the buyer, Cowart Properties LLC, in the transaction. Noel Hutcheson of Colliers International represented the seller.
PLANO, TEXAS — Aragon Holdings, a real estate investment and fund management company based in Beverly Hills, Calif., has acquired two Class A multifamily properties in Plano through its $50 million Aragon Multi-Family Cash Flow Fund II. The two communities are the 208-unit Reserve at Pebble Beach and the 208-unit Somerset at Spring Creek. Freddie Mac provided acquisition financing.
