Texas

COLLIERS ARRANGES SALE OF LANDMARK DALLAS BUILDING

by admin January 3, 2013

DALLAS — Colliers International North has brokered the sale of 501 Elm Place, an approximately 190,000-square-foot landmark building located in the West End District of Dallas. The property was built in 1903 and includes office, retail and residential space. The building, which spans an entire city block, also houses the Dallas Holocaust Museum. Creighton Stark and Ben Lurie of Colliers International represented the seller, a German investor group advised by International Capital, in the transaction.

January 3, 2013

BELL PARTNERS ACQUIRES FRISCO APT. COMPLEX

by admin January 3, 2013

FRISCO — Bell Partners has acquired the 208-unit Broadstone Stonebriar Apartments, a Class A, garden-style apartment community located in Frisco. The community will be rebranded as Bell Stonebriar. The apartment complex features a resort-style swimming pool with a fountain, a fitness center, business center and media center. Bell Partners will manage Bell Stonebriar. In 2012, Bell Partners acquired approximately $550 million in apartment communities.

January 3, 2013

Multifamily Texas

TRANSWESTERN BROKERS SALE OF TWO HOUSTON APTS.

by admin January 3, 2013

HOUSTON — Transwestern's Houston office has arranged the sale of two Houston apartments, the 182-unit Oaks of Westchase and the 149-unit Clarke Springs. Mosaic Residential purchased Oaks of Westchase, located at 2851 Wallingford, in an off-market transaction with Pacifica L 49 LLC, the seller. A private investment group purchased Clarke Springs, located at 15706 Clarke Springs Drive, from SCG Multi Apts. Holdings LLC, the seller. Transwestern represented the sellers in both transactions.

January 3, 2013

Healthcare Texas

MD ANDERSON CENTER BUYS TRACT IN NEW CENTRAL PARK

by admin January 3, 2013

HOUSTON — The University of Texas' MD Anderson Cancer Center has purchased a 34.5-acre tract of land in Central Park, a 78-acre commercial development located in Houston's Energy Corridor. Wolff Cos. assembled Central Park in late 2011 and early 2012. Central Park is located on the north side of Interstate 10 between North Eldridge Parkway and State Highway 6. There is approximately 2 million square feet of office space either in construction or in the pipeline in the Energy Corridor, according to Wolff Cos.

January 3, 2013

Retail Texas

MEPT ACQUIRES PARKWAY VILLAGE IN HOUSTON

by admin January 2, 2013

HOUSTON — Multi-Employer Property Trust (MEPT) has purchased the 134,000-square-foot Parkway Village, a grocery-anchored shopping center in Houston's Energy Corridor. Kroger anchors the center, which is currently 96 percent leased to 29 national, regional and local retailers. MEPT is a commingled real estate equity fund advised by Bentall Kennedy. The Parkway Village acquisition was brokered by HFF.

January 2, 2013

Industrial Texas

EASTGROUP BUYS INDUSTRIAL PORTFOLIO FOR $41.55M

by admin January 2, 2013

DALLAS — EastGroup Properties has acquired five multi-tenanted warehouse/distribution centers totaling 722,000 square feet in the Valwood Industrial Park in Dallas. The total investment, including first-year capital improvements and lease-up costs, is $41.55 million. The properties are 95 percent leased out to 15 customers. EastGroup also purchased 4.1 acres of adjacent land for future development. The properties are anticipated to generate an annualized 6.3 percent cash yield.

January 2, 2013

Multifamily Texas

CROSSBEAM CONCIERGE DELIVERS VILLAS AT MIRA LOMA

by admin January 2, 2013

SAN ANTONIO — Crossbeam Concierge, a Bethesda, Md.-based real estate investment and development firm, has delivered the 270-unit Villas at Mira Loma, a Class A multifamily community located in San Antonio's Live Oak submarket at 15400 Lookout Road. The development is Crossbeam Concierge's first ground-up development project since 2007. Crossbeam Concierge purchased the development site from Bryan-based Godfrey Residential Group, which developed the community. The community features a resort-like Water Plaza with a pool and sundeck, a fitness center and clubhouse. Dallas-based BGO Architects designed the community and Comerica Bank provided construction financing.

January 2, 2013

Industrial Texas

PS BUSINESS PARKS BUYS THREE FLEX BUILDINGS FOR $14.9M

by admin December 21, 2012

AUSTIN — PS Business Parks has acquired three multi-tenanted flex properties in Austin totaling 226,000 square feet for $14.9 million. The properties are 86.1 percent leased to companies with an average customer size of 21,600 square feet. PS Business Parks owns more than 1.7 million square feet of space in Austin, which was 95.8 percent leased prior to this transaction.

December 21, 2012

Seniors Housing Texas

PINPOINT BREAKS GROUND ON ASSISTED LIVING FACILITY

by admin December 21, 2012

KATY — Houston-based PinPoint Commercial has commenced construction on a two-story, 104-bed assisted living and memory care facility known as The Legacy at Falcon Point. The facility will be located at the intersection of Roesner and Katy Gap roads in Katy. Construction is slated for a late 2013 completion. The facility will feature a restaurant, movie theater, store, spa, gym and sports bar. PinPoint is collaborating with Thrive Senior Living on the development.

December 21, 2012

Office Texas

COLLIERS BROKERS SALE OF ADVANCIAL TOWER IN DALLAS

by admin December 21, 2012

DALLAS — Colliers International North Texas has arranged the sale of the 147,252-square-foot Advancial Tower, a 17-story Class A office tower located at 1845 Woodall Rogers Freeway in uptown Dallas. The office tower overlooks the newly delivered Klyde Warren Park and has a tenant roster including Advancial, Omniplan, GroupM and Genesco. Jim Graham, Creighton Stark and Ben Lurie represented the buyer in the transaction. Charter Holdings was the seller. Greg Grainger and David Quisenberry of Colliers will handle leasing and managing responsibilities for the tower.

December 21, 2012

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