IRVING — Johnson Capital has procured a $2.55 million loan to refinance the 62,615-square-foot Story Business Center, an industrial property located on Story Road near Beltline Road in Irving. Jason Pumpelly of Johnson Capital’s Dallas office originated the 10-year, non-recourse loan through a CMBS lender.
THE WOODLANDS — JD Warmack LP. has started construction on the 12-story, 300,000-square-foot Research Forest Lakeside – Building 4, located in Research Forest Lakeside between Lake Woodlands and Research Forest drives in The Woodlands. JD Warmack is the owner/developer of Research Forest Lakeside. The speculative development is pre-certified LEED Gold and the existing features include water fountains and a seven-story parking garage. Ziegler Cooper Architects and Odell Associates designed the property, as well as the rest of the office properties in the works at the 76-acre site that fronts Lake Woodlands. David E. Harvey Builders is the general contractor; Haynes Whaley is the structural engineer; DBR, MEP and Jones Carter are the civil engineers; and Clark Condon Associates is the landscape architectural firm. Talisman Energy has pre-leased six floors of the property.
ROWLETT — American Realty Capital — Realty Centers of America has acquired the 106,000-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $21.6 million. The transaction marks American Realty Capital — Retail Centers of America's first acquisition. The property is 95 percent leased to tenants including Ross Dress for Less, PetSmart and Dollar Tree. Dallas-based Lincoln Property Co. will operate the shopping center.
FORT WORTH — Dallas-based KDC has plans to construct a 75,000-square-foot property, located at 4805 Amon Carter Blvd. on a 8.1 acre site in The CentrePort Business Park in Fort Worth. The property will house NBC 5/KXAS-TV, Telemundo/KXTX-TV and several businesses affiliated with NBC Universal. As part of the agreement to build the new building, NBC 5 will convey its current 66,000-square-foot building and 26-acre site in east Fort Worth to the city. Corgan Associates designed the property, and Gary Collett and Matt Heidelbaugh of Cushman & Wakefield brokered the land sale. KDC will break ground on the property at the end of June, and the firm is anticipating a late 2013 completion.
TEMPLE — ARA has arranged the sale of the 129-unit Bridge View Apartments, located at 400 Fryers Creek in Temple. The complex features a swimming pool with sun decks, a clubhouse, grilling area and laundry facilities. Jeff Patterson and Kelly Witherspoon of ARA's Austin office represented the seller, a Texas-based regional investment firm. The buyer is a Texas-based national investment group.
HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of the 21,096-square-foot Shadow Lake Shopping Center, located at 3531 and 3533 S. Dairy Ashford in Houston. Mark McGinley of Coldwell Banker represented the seller in the transaction. Gary Smith of Republic Central Realty represented the buyer, a private investor.
PROSPER — Dallas-based Terra Verde Group has purchased the 2,030-acre Three Stones, a master-planned community located in Prosper, for $30 million. The seller was a partnership that included developer Forest City Enterprises. Terra Verde plans to invest $250 million in development costs over the life of the project. Three Stones will ultimately feature a 120-acre mixed-use/office component, three school sites, four amenity centers and 3,500 single-family lots.
OKLAHOMA CITY — Monmouth Real Estate Investment Corp. has acquired a 119,912-square-foot industrial property, located at 2710 S. W. 18th St. in Oklahoma City, for $9.45 million. The property is net-leased for 10 years to FedEx Ground Package System. The facility was constructed by Jones Development Co. and is situated on an approximately 15-acre site.
AUSTIN — Newport Beach, Calif.-based MIG Real Estate has acquired The Cottages, a 330-unit luxury apartment community located at 8515 Interstate 35 S. in Austin. The apartment community is currently 94 percent occupied. MIG was self-represented in the transaction, and Alliance Residential Co. will manage The Cottages.
AUSTIN — ARA has arranged the sale of the 156-unit Summer Wind, an apartment complex located at 883 Fairfield Drive in Austin. Andrew Shih of ARA's Austin office represented the seller, who foreclosed on the property. Kansas City, Mo.-based Spectrum Business Ventures is the buyer. The property is 93 percent occupied and features a swimming pool, wood-burning fire places and bay garden windows.
