DALLAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Catalina Court, a 123-unit apartment complex located at 3425-3435 S. Polk St. in Dallas. Steven Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer is an investor that owns multiple multifamily properties on South Polk Street.
Texas
PORT ARTHUR, TEXAS — DPG Partners has selected Dallas-based Weis Builders as general contractor on the $6.3 million Towneplace Suites located in Port Arthur. Towneplace Suites will offer an outdoor pool, fitness room, and kitchen with continental breakfast. This hotel is Weis’ fifth project with DPG, and their second hotel in Port Arthur. Completion is expected in summer 2014.
LONGVIEW, TEXAS AND NASHVILLE — Greystone has originated $30 million of FHA insured loans for two multifamily properties located in Texas and Tennessee. Donny Rosenberg of Greystone closed the loans on behalf of the borrower, Amesbury Cos. Hickory Point at Brentwood, located in Nashville, received $22.5 million of loan proceeds pursuant to Section 223(a)(7) of the National Housing Act. The property consists of 298 units. Hunters Crossing, located in Longview, received $7.9 million of loan proceeds through HUD’s Section 223(f) program. The complex contains 192 units.
GRAPEVINE, HUMBLE, AND ARLINGTON, TEXAS — UCR Investment Sales has brokered the sale of three retail properties in Texas totaling 33,573 square feet. The first property, Hall Johnson Center, is a 21,853-square-foot shopping center located on Hall Johnson Road in Grapevine. Notable tenants of the center include Anytime Fitness, Subway and Papa Murphy’s Pizza. The second property, Starbucks Retail Center, is a 5,720-square-foot retail center located at Northpark Drive and Glade Drive in Humble. The complex is occupied by Menchie’s Frozen Yogurt, The Nail Spot and Starbucks. The final property is a 6,000-square-foot single tenant restaurant leased to Mellow Mushroom located on North Center Street one block north of University of Texas at Arlington. Tommy Tucker of UCR Investment Sales represented the sellers in all three transactions.
CARROLLTON, TEXAS — Lee & Associates has arranged a 44,900-square-foot industrial lease at 1135 Trinity Mills Road in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Cobalt Capital Partners. Bill de la Chapel of Transwestern Commercial Services represented the tenant, Armstrong Relocation.
SAN ANTONIO — Stream Realty Partners has brokered the extension and expansion of a 32,400-square-foot industrial lease at Lanark Distribution Center, located at 610 Lanark Drive in San Antonio. Jason Schnittger of Stream Realty Partners represented the landlord, Mayfield Properties, in a direct deal with tenant Ram Tool & Supply.
LEWISVILLE, TEXAS — Beech Street Capital LLC has closed a Fannie Mae conventional loan for the acquisition of The Place at Park Timbers, a 230-unit multifamily property in Lewisville, a suburb of Dallas. Chuck Christensen of Beech Street originated the transaction. The borrower is a partnership organized by Allmark Properties. The Place at Park Timbers offers 11 floor plans, a clubhouse, two pools, a spa and fitness center. Units feature all-electric kitchens, central air, private balconies and patios and walk-in closets.
LONGVIEW, TEXAS — Morris-Floyd Capital Partners has purchased Longview Plaza, a 157,000-square-foot power center located on West Loop 281 in Longview. The center, previously owned by Longview Plaza Ltd, is anchored by Bed Bath & Beyond, T.J. Maxx, Michael’s, Office Depot, Best Buy and Books-A-Million. BBVA Compass provided acquisition financing, and Bruce Marshall and Bill Graham of Sperry Van Ness brokered the sale. Longview Plaza is currently at 100 percent occupancy.
FORT WORTH, TEXAS — Skywalker Property Partners and the Caffey Group have acquired Atrium Center, a 50,686-square-foot office building located at 8851 Camp Bowie West Blvd. in Fort Worth. Approximately 20 percent of the space will be occupied as a headquarters for the Caffey Group, which will relocate to the new space in September. The terms include the option for Caffey Group to purchase the property in the future. Jack Clark of Red Oak Realty represented the seller, Hwy 80 Capital LP. The center, which will be renamed Atrium West, is currently at 78 percent occupancy. Its largest tenant is the City of Fort Worth’s engineering department, occupying the 16,141-square-foot third floor. Three of the nine tenants are medical providers.
DALLAS — Zixcorp has renewed its 42,916-square-foot office lease through 2024 at Cityplace, located at 2711 N. Haskell Ave. in Dallas. David Wetherington and Travis Ewert of Colliers International represented Zixcorp, and Jeff Schweitzer and Tommy Nelson of Stream Realty represented the landlord, Dallas Cpt. Fee Owner LP, in the transaction.