TULSA, OKLA. — Five dental clinics fully leased to My Dentist, located in Texas, Oklahoma and Arkansas, have sold for $9.48 million. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, an Oklahoma City-based developer, in the transaction and procured the buyer, a New York-based REIT. The properties are debt-free and have newly established 15-year, triple net leases with attractive annual rent increases.
PITTSBURG — Binswanger has arranged the sale of a 175,000-square-foot office building, located at 4845 U.S. Highway 271 in Pittsburg. The facility is the former Pilgrim's Pride corporate headquarters. The buyer, Region 8 Education Service Center, plans to use the property as an in-house training facility for 47 school districts in east Texas. The property features six meeting rooms wired for video conferencing, a meeting room that can sit 265 people, four elevators, motion detecting lighting, nine break rooms, 18 restrooms and 1,000 parking spaces. Holmes Davis of Binswanger's Dallas office represented the seller, Pilgrim's Pride Corp., in the transaction.
PARIS — The Ensign Group has purchased the 150-bed Paris Nursing & Rehabilitation Center, a skilled nursing facility located at 2900 Stillhouse Road in Paris. The facility is currently 59 percent occupied. The facility is Ensign's 105th healthcare property.
SAN ANTONIO — AMJ Commercial Holdings LLC has purchased an 87,951-square-foot warehouse, located at 11503 Jones Maltsberger Road in San Antonio, from NCBTX TX LCC. Brett Baillio of First American Commercial Property Group represented the seller in the transaction.
EL PASO — The 225,000-square-foot El Paso Children's Hospital, located at 4845 Alameda Ave. in El Paso, has opened. The hospital is the first and only independent, 501(c)(3) not-for-profit children's hospital in the El Paso area. The hospital features 122 private pediatric rooms, an “enchanted forest” play area, a 22-bed intensive care unit, a 50-bed neonatal intensive care unit, four operating rooms, a pediatric critical care transport team and an emergency department. KMD Architects designed the hospital along with El Paso-based MNK Architects. Birmingham, Ala.-based Robins & Morton was the general contractor for the project and Jones Lang LaSalle's Houston office provided project management services.
FAIRVIEW — Birmingham, Ala.-based Colonial Properties Trust (CPT) has acquired the 256-unit Colonial Grand at Fairview, a Class A apartment community located at 344 Murray Farm Road in Fairview, a Dallas suburb, for $29.8 million. The new property features a resort-style swimming pool with a sundeck, a fitness center, outdoor grilling stations and designer kitchens with granite countertops. The purchase was funded with proceeds from asset dispositions and borrowings on CPT's unsecured credit facility.
HOUSTON — Myers Crow & Saviers plans to build the 135,000-square-foot Mason Creek Office Center, a speculative office property that will be located on a 10.8-acre site in Mason Creek Corporate Park in Houston's Energy Corridor. Moody Rambin has been retained to lease and manage the property. Parkside Capital owns Mason Creek Corporate Park, a master-planned business park. The project is slated to break ground in the third quarter and is scheduled for an April 2013 completion.
HOUSTON — A joint venture between Miami-based Adler Real Estate Fund and Kawa Capital Management has purchased 16 properties totaling 467,000 square feet of office and industrial space in the Houston area. The newly acquired assets include 152,173 square feet of space at Plaza Southwest; 98,008 square feet of space at Crescent Ten; 97,332 square feet of space at Commerce Park North; 71,673 square feet of space at Technipark Ten and 47,816 square feet at Westchase Park. The portfolio is 96 percent leased to tenants including ExxonMobil, Samsung, Ryder, Schlumberger and Alford Services. Rusty Tamlyn of HFF represented the seller, a joint venture between Insite Commercial Real Estate and Carval.
DALLAS — New York-based DRA Advisors has selected Dallas-based Stream Realty Partners to provide property management and leasing services for a portfolio of industrial properties in Texas and Georgia it acquired from Weingarten Realty Investors, which totals approximately 7 million square feet. The properties span across Atlanta, Austin, Dallas, Houston and San Antonio. Stream's leasing and management portfolio now totals nearly 85 million square feet.
MARSHALL — Levey Group recently executed a 10-year, build-to-suit lease agreement with Houston-based Philips Service Corp. (PSC) to construct a 28,000-square-foot industrial facility, located on a 9-acre tract of land along Highway 20 in Marshall. Levey Group will purchase, develop and own the site. Levey Construction, a division of Levey Group, is slated to break ground on the warehouse and crushed concrete laydown yard in September.