HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.
DALLAS — Dallas-based Richard E. Colgin Co. has acquired an 85,000-square-foot industrial facility, located at 4111 Mint Way in Dallas' Redbird Industrial Park. Jim Ferris of Bradford Commercial Real Estate's Dallas office represented the buyer in the transaction. Scott Jackson of Farmers Branch-based Hudson Peters Commercial Real Estate represented the seller, ABG Partners.
GARLAND — Lee & Associates has brokered the sale of a 91,335-square-foot industrial building, located at 315 S. International Rd. in Garland. Nathan Denton and Brett Lewis of Lee & Associates' Dallas/Fort Worth office represented the seller, American National Bank of Texas, in the transaction. George Tanghongs of Lee & Associates' Dallas/Fort Worth office represented the buyer, Ronnie Luong.
HOUSTON — Cushman & Wakefield of Texas Inc. brokered the sale of a 83,000-square-foot former Chrysler dealership, located at 19200 Northwest Fwy. in Houston. James Foreman, Louis Kaleel, David Cook, Jeff Peden and Will Condrey of Cushman & Wakefield's Houston office represented the seller, CP Inver Grove III RE Holdco LLC, in the transaction. Phil Arnett of Houston-based D Philip Arnett Inc. represented the buyer, Emerson Electric Co.
WEBSTER — The BETZ Companies has acquired the 20,250-square-foot Shops at the Bay, a shopping center located at 300 & 304 W. Bay Area Blvd. in Webster. BETZ was self-represented by Ron Dagley in the transaction. Tony Patronella of Read-King Commercial Real Estate represented the seller, Bay Area 4.5 Acres Ltd. Gary Hough of Q10/Kinghorn, Driver, Hough & Co. secured a loan through Cantor Commercial Real Estate Lending on the property. Shops at the Bay includes tenants such as Chipotle Mexican Grill, Mooyah Burgers & Fries, Scottrade, Firehouse Subs, Crickett, Lovett Dental, Miko's Mediterranean Restaurant, Thai Spice Kitchen, RadioShack and Games Plus.
GRAND PRAIRIE — Walker & Dunlop has provided $21.65 million in acquisition financing for the 350-unit Lakeside Villas Apartments, a garden-style multifamily property in Grand Prairie. Andrew Tapley led the Walker & Dunlop team in arranging the 10-year loan with a 30-year amortization schedule under the Fannie Mae DUS ERL Loan Program. Dave Susank of Johnson Capital's Irvine, Calif., office originated the loan. The property was 90 percent leased at the time of closing and features a fitness center, business center, conference room, game room, pet park, attached/detached garages, carports and two swimming pools.
HOUSTON — SM Energy Co. has leased 52,389 square feet of office space at One Eldridge Place, located at 777 N. Eldridge Pkwy. in Houston. The energy firm currently occupies 30,000 square feet at the property and is expected to move into its new space in the second quarter of 2012. Jim Arket and Mona Williams of Grubb & Ellis' Houston office represented the tenant in the lease transaction. John Pruitt of CBRE's Houston office represented the property owner, Behringer Harvard.
RICHARDSON — CBRE has arranged the sale of a five-building office portfolio in Richardson's Telecom Corridor totaling 728,792 square feet. The office buildings include Palisades I & II and Greenway Plaza I, II & III, which had a combined 50 percent occupancy. Gary Carr and Eric Mackey of CBRE's Dallas office and Russell Ingrum of the firm's Houston office arranged the sale on behalf of the seller, La Jolla, Calif.-based Equastone Value Funds II & III. The sale was managed by Kirk Cypel of Rouleur Realty Advisors. Dallas-based JP Partners Realty are the buyer.
PLANO — Atlanta-based T5 Data Centers is partnering with Dallas-based Lincoln Property Co. to build the 150,000-square-foot T5@Dallas, a data center located in Legacy In Plano, a master-planned business park, at 5741 Legacy Dr. in Plano. The companies will deliver the property in several phases, with Phase I expected to come on line in June 2012. Lincoln will market the property, where pre-leasing is currently under way.
DALLAS — Chicago-based Waterton Residential has acquired a 592-unit multifamily portfolio that includes Vue Fitzhugh, Vue Greenville and Vue Live Oak, all located in Dallas, from GE Capital. The portfolio was developed by Inland American Communities and totals 503,775 square feet. Waterton will continue renovations for all three properties, including the addition of wood floors and granite countertops. Apartment Realty Advisors' Dallas office represented the seller in the transaction.
