FORT WORTH — Cushman & Wakefield of Texas has arranged the sale of a 14,674-square-foot industrial property, located at 1315 Riverside Dr. in Fort Worth. Pete Richardson and Drew Richardson of Cushman & Wakefield's Dallas office represented the buyer, Hearthstone Properties, in the transaction. The pair also negotiated the buyer's lease transaction with Houston-based TNT Crane & Rigging, the new tenant. Bob Scully of CBRE's Fort Worth office represented the seller, Bright Truck Leasing.
TULSA, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $7.58 in mortgage financing for the 206-unit Hunter Creek Apartments, located at 1563 S. 79th E. Ave. in Tulsa. Todd McNeill of MCA arranged the 10-year loan through the Fannie Mae DUS loan program. The property is currently 94 percent occupied.
AUSTIN — Pearlmark Real Estate Partners has acquired Cityview Centre and The Setting I-III in Austin for a combined 284,216 square feet of office space from The Blackstone Group through its value-add fund, Aslan Realty Partners IV. Cityview Centre is a 137,763-square-foot office building located at the intersection of Loop 360 and Lost Creek Blvd., and The Setting I-III is a 146,453-square-foot office park located adjacent to Cityview Centre. The properties were 91 percent leased at the time of the transaction to tenants such as Level 3Communications; Meyertons Hood; Kivlin, Kowert & Goetzel; Coherent Logix; and KLD Energy Technologies. Luke Wheeler and Will Stewart of Transwestern's Austin office will market the property.
HOUSTON — Transwestern has brokered the sale of the 315,120-square-foot Satsuma Distribution Center, located at 9020 Jackrabbit Rd. in Satsuma Station Industrial Park in Houston. The property features tenants such as Mahindra USA. John Nicholson of Transwestern's Houston office represented the buyer, KTR Capital Partners, in the transaction. Jeff Everist and Gray Gilbert of CBRE's Houston office represented the seller, an affiliate of Houston-based Pinpoint Commercial.
DALLAS — Marcus & Millichap has arranged the sale of a 5,850-square-foot Family Dollar store, located at 1928 E. Ledbetter Dr. in Dallas. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a personal trust based in San Diego, Calif., and procured the buyer, a limited liability company, in the transaction.
AUSTIN — ABKOT Properties, a subsidiary of San Antonio-based Kotel Investment, has acquired a 15,900-square-foot industrial facility, located at 13802 Turbine Dr. in Austin, for an undisclosed price. The property is currently occupied by CenTex Door & Frame. Kotel was self-represented in the transaction, and Mark Minchew of RE/MAX's Austin office represented the seller.
FORT WORTH — HFF has arranged acquisition financing for the 204-unit Villa Lago Apartment Homes, a Class A multifamily community located at 8201 Boat Club Rd. in Fort Worth. The 10-building property is 96 percent occupied and features a resort-style pool, a business center, a fitness center and covered parking. Cortney Cole of HFF's Dallas office secured the 7-year loan through Freddie Mac on behalf of Venterra Realty.
HOUSTON — Shell has renewed a 15-year lease for 804,491 square feet in One Shell Plaza and 471,934 square feet in Two Shell Plaza in Houston, a combined 1.22 million square feet of office space, the largest office lease transaction in the world in 2011. Tim Relyea and Joe Peddie of Cushman & Wakefield's Houston office represented Shell in the lease transaction. Hines, the buildings' owner, was self-represented by Charles Elder and Chrissy Wilson. As part of the lease agreement, Hines will make capital improvements to the property, including mechanical and electrical upgrades and redesigned outdoor plaza areas.
MURPHY — Cadence McShane has finished the $37 million construction of the 282,000-square-foot C.A. McMillen High School, located at 750 N. Murphy Rd. in Murphy, on behalf of the Plano Independent School District. The construction included building 67 instructional spaces, 10 science laboratories, music spaces, a library, a cafeteria/kitchen and a new surface parking lot. Plano-based SHW Group provided architectural services for the project.
SAN ANTONIO — Plano-based SHW Group has been awarded a $21 million contract to renovate Brackenridge High School, located at 400 Eagleland Dr. in San Antonio, on behalf of the San Antonio Independent School District. The renovation project includes the addition of 10 science laboratories, broadcast media studios, art classrooms, animation laboratories, classrooms, a career tech center and parking improvements. Construction will begin in summer of 2012 and is slated for a 2014 completion.