MCALLEN — Irving-based C-III Capital Partners has finalized the acquisition of NAI Global, which is represented by NAI Rio Grande Valley in McAllen. Andrew Farkas is the CEO of C-III. NAI Global will continue to be operated as a separate company under its current management.
HASLET — Cadence McShane has completed the construction of the 83,099-square-foot J.C. Thompson Elementary School, located on an 11-acre campus at 440 Wishbone Ln. in Haslet. The new school is in the Northwest Independent School District and features 32 classrooms, a cafeteria with a full-service kitchen, a modern library and a gymnasium. Plano-based SHW Group provided architectural services.
BELLAIRE — Northbrook, Ill.-based The Boulder Group has brokered the $3.6 million sale of a 10,908-square-foot freestanding retail property leased to CVS/pharmacy, located at 5422 Bellaire Blvd. in Bellaire. CVS/pharmacy has a 7-year triple-net lease at the property. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a high net worth individual from the Midwest, in the transaction. The buyer was a Texas-based 1031 exchange investor.
AUSTIN — Hendricks & Partners has arranged the sale of the 840-unit Silvervale Crossing – Brookstone, an apartment community located at 8800-8900 N. Interstate 35 in Austin. The complex is the second largest apartment community in Austin. George Deuillet of Hendricks & Partners' Austin office and Ellen Muskin of Muskin Commercial represented the seller, Addison-based GE Capital Realty Inc., in the transaction. The buyer was San Francisco-based FPA Multifamily LLC.
FARMERS BRANCH — Lee & Associates has arranged the sale of a 10,400-square-foot industrial property, located at 13720 Diplomat Dr. in Farmers Branch. Mark Graybill and Donnie Rohde of Lee & Associates Dallas/Fort Worth office represented the undisclosed seller in the transaction. The buyer was Life Time Roofing.
SPRING — NorthMarq Capital has secured the assumption of first mortgage debt for the 12,600-square-foot Meadow Edge Shopping Center, located at 20141 Interstate 45 in Spring. The retail center is leased to Mattress Giant, Sprint and Warehouse Pools. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with 5 years remaining on the original term and a 30-year amortization schedule through JPMorgan – CMBS. CIII Asset Management served as special servicer of the original loan, which was also arranged by NorthMarq.
HOUSTON — Jones Lang LaSalle has arranged the sale of two Class A office buildings, located at 4119 and 4203 Montrose in Houston, and an adjacent red brick home converted to an office property totaling 83,764 square feet. The properties are fully leased and have been for the past 4 years. Rudy Hubbard and Leah Gallagher of Jones Lang LaSalle's Houston office represented the seller, Hansen Partners, in the transaction. Equitas Commercial Real Estate Holdings, the buyer, has retained Hansen Partners to manage and lease the properties.
ARLINGTON — Irvine, Calif.-based TNP Strategic Retail Trust has acquired the 176,414-square-foot Woodland West Marketplace, a grocery-anchored retail center located in Arlington. Tom Thumb Food & Pharmacy anchors the property, which is 87 leased to tenants including Tuesday Morning, Bank of America, Goodyear, the U.S. Post Office and Hallmark.
PASADENA — Marcus & Millichap has brokered the $1.85 million sale of the 60-room Former Holiday Inn Express, a hotel located at 2601 Spencer Hwy. in Pasadena. Eric Guerrero, Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office represented the seller, a partnership, in the transaction. Guerrero, Yu, Bijlani and Tyler Bean, also of Marcus & Millichap's Houston office, represented the buyer, a private investor.
AUSTIN — HFF has arranged $33 million in acquisition financing for Prominent Pointe I and II, two office buildings totaling 261,243 square feet located at 8310 Capital of Texas in Austin. The properties are a combined 90.6 percent occupied. Doug Opalka of HFF's Austin office arranged the financing through a national life insurance company on behalf of the borrower, San Francisco-based Divco West Acquisitions. Chad Barrett and Bart Matheny of Austin-based AQUILA Commercial arranged the acquisition on behalf of the seller, Aspen Properties.