DALLAS — Henry S. Miller Brokerage has arranged the sale a 130,000-square-foot former Sam's Club, located at 1900 W. NW Highway in Dallas. Dan Spika of Henry S. Miller's Dallas/Fort Worth office represented the seller, Grand Openings, in the transaction.
QUAPAW, OKLA. — CIT Group has arranged two senior credit facilities totaling $41.6 million for the Downstream Development Authority, a subsidiary of the Quapaw Tribe of Oklahoma, for the development of a 150-room hotel tower and to refinance an existing credit facility. The hotel tower will be part of the Downtown Casino Resort, located in Quapaw. CIT Bank provided the loans, and CIT Communications, Media & Entertainment served as the sole lead arranger, lead administrative agent and sold book runner for the loans.
DALLAS — Prologis has signed a build-to-suit agreement to construct a 398,000-square-foot industrial property in Dallas for Prime Distribution Services. The property has been designed to the City of Dallas Green Building Program specifications, making it eligible for LEED certification. The building has also been designed to accommodate an additional 187,000-square-foot expansion. The property will break ground this month and is slated for a February 2013 completion.
DALLAS — Dallas-based 7-Eleven has acquired 23 convenience stores across Texas from Strasburger Enterprises. The stores are primarily under the Quix brand name, and 7-Eleven will have the stores rebranded by the end of the year. This acquisition brings the total number of Texas 7-Eleven locations to 570.
DALLAS — Marcus & Millichap has arranged the sale of the 229,000-square-foot USA Pallet & Logistics Service Center, located at 2829 Sea Harbor Road in Dallas. The industrial property is net-leased to USA Pallet & Logistics for a 10-year term. Scott Ryan of Marcus & Millichap's Austin office and Geoffrey Ficke of the firm's Dallas office represented the seller, a limited liability company, in the transaction. Sam Hanna of Marcus & Millichap's San Diego office represented the buyer, an individual trust.
GALVESTON — The 12-story, 87,140-square-foot 2201 Market Street, a historic office building also known as The U.S. National Bank Building located in Galveston, has sold. The office building's tenants include Frost Bank and the University of Texas Medical Branch. The building was built in 1925 to house the U.S. National Bank. Christopher Dray of Moody Rambin Investment Services Group represented the seller, Frost National Bank, in the transaction.
PEARLAND — Steel Castle Property Partners has purchased the 212-unit Club at Tranquility Lake, a Class A multifamily property located in Pearland. Steel Castle acquired the property through an REO auction at the time of foreclosure, closing in just 30 days. Steel Castle will continue to reposition and make capital improvements to the property, which already features a swimming pool and views of Tranquility Lake.
SCHERTZ — Marcus & Millichap has sold the 4,921-square-foot Christian Brothers Automotive, a car dealership located at 205 FM 3009 in Schertz. Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller. The buyer was an out-of-state investor.
GRAND PRAIRIE — Stream Realty Partners has secured a new lease of 225,000 square feet for Southwest Molding in Grand Lakes Distribution Center, located at 3845 Gifford St. in Grand Prairie. This transaction stabilizes the 636,000-square-foot speculative distribution center. Cannon Green and Bob Hagewood of Stream Realty represented landlord, Crow Holdings, in the transaction. Nathan Orbin and Michael Swaldi of Jones Lang LaSalle represented the tenant.
TULSA, OKLA. — Dallas-based Prescott Realty Group has secured new and renewal leases totaling 167,000 square feet at 110 West Seventh Place Tower in Tulsa. Three new tenants have been added: an oil and gas exploration firm has leased 44,681 square feet, a major national bank has leased 21,961 square feet and Airgas Mid-South Inc., has leased 58,640 square feet. Additionally, Atlas Pipeline Mid-Continent has renewed its 42,164-square-foot lease. The 28-story, 521,854-square-foot Class A office building is 96 percent leased, with the average lease term being 101 months. The building offers building automation system, a top-floor conference room with panoramic views, 11 newly renovated elevators, on-site management and an attached 586-space parking garage. Michael Predovic and Derek Bateman of Trinity Corporate Real Estate represented the landlord in the transactions.