DALLAS — Agree Realty Corp. has acquired a retail property net leased to National Tire & Battery (NTB) in Dallas for $2.77 million. The base term of NTB’s lease is 25 years. The store opened in May 2011.
HOUSTON — New York-based hedge fund Petra Capital Management has sold the Palms of Westheimer, a 798-unit garden apartment community in Houston. Houston-based Situs Asset Solutions, which began servicing the property’s loan in 2006, represented Petra Capital in the transaction. David Malev and Maury Bronstein, both of Situs, helped manage and sell the lender-owned apartment community located at 6425 Westheimer Road.
DENISON — NOVO 1 has announced it will open a 30,000-square-foot customer contact facility in Eisenhower Business Center at 2415 S. Austin in Denison. The site is expected to be operational in September and will employ up to 300 people over the next 3 years. More than $1 million is expected to be invested in the equipment and facility updates. The Denison Development Foundation owns the 30,000-square-foot space.
PLANO — Plano-based Optimal Blue has signed a renewal and expansion lease for 9,419 square feet of office space in the Parkwood Place building in Plano’s Legacy Park. Optimal Blue signed the lease with Newport Beach, Calif.-based KBS Realty Advisors, which owns the Parkwood Place building. Chris Morrow of Dallas-based Finely Morrow negotiated the lease on Optimal Blue’s behalf and Steve Everbach, Conor McCarthy and James Esquivel of Jones Lang LaSalle’s Dallas office represented KBS. The three-story Parkwood Place building is located at 5601 Democracy Dr. and is now 88 percent occupied.
OKLAHOMA CITY — CBL & Associates Properties, Inc. and Horizon Group Properties Inc. have announced The Outlet Shoppes at Oklahoma City will open on Friday. The center is fully leased with 83 stores and is located at the intersection of Interstate 40 and Council Road. The center is the only outlet center in Oklahoma and features a food court, play area for children, center stage with fountains and an additional parcel of land that can house 60,000 square feet of retail space. The center’s tenants include Nike, Banana Republic, J. Crew and Levi’s.
TEXAS — CB Richard Ellis (CBRE) has facilitated sales negotiations in the following transactions: Ibmak Investments Inc. has purchased 72,400 square feet of industrial space at 1417 and1433 Wainwright in Carrollton. CBRE’s Dave Anderson represented the seller, Genuine Parts Co. Inland Western College Station Gateway I has purchased 43,989 square feet of retail space in College Station from Delmar Baronhead I. CBRE’s Chris Cozby and Chris Gerard represented Delmar Baronhead in the retail space at 1505 University Dr. Corinthian Real Estate has purchased 72,000 square feet of retail space from Forest Hill Loop. CBRE’s Stroud Arthur represented Forest Hill Loop in the transaction. The property is located at 3300 S.E. Loop 820 in Forest Hill.
CEDAR PARK — Grubb & Ellis Co.’s Self Storage Group has facilitated the sale of Hill Country Self Storage, a Class A storage facility comprised of 555 units totaling 68,777 square feet of storage space in Cedar Park. The facility was constructed in 2005 and will be operated by Don Clauson, the buyer. Steve Mellon and Pete Williams of Grubb & Ellis represented the seller, Legend Communities. The property was 85 percent leased at the time of the sale.
DALLAS and PLANO — John T. Evans Co. has negotiated Coffee House Café’s purchase and Duke’s Original Roadhouse’s lease. Coffee House has purchased a 5,000-square-foot building at 6150 Frankford Rd. in Dallas. John T. Evans’ Mike Sandel and Paul Vernon negotiated the transaction. Duke’s has leased 6,400 square feet of space at 3314 N. Central Expressway in Plano. John T. Evans’ Vernon, Sandel and Taylor Roberts negotiated the transaction.
HOUSTON — Atlanta-based Lucas Associates has renewed its 8,424-square-foot office space lease at 5120 Woodway Dr. in Houston. Clay Peeples of Boyd Commercial Real Estate Services/CORFAC International and Don Granot of Joel & Granot Real Estate/CORFAC International represented Lucas Associates in the negotiations. The Class A office building is owned by Decorative Center of Houston.
SAN ANTONIO — Marcus & Millichap Real Estate Investment Services has helped sell Howard Johnson Express Inn Fiesta, located at 13279 Interstate 10 West in San Antonio. The property is comprised of 53 rooms. Allan Miller of Marcus & Millichap’s Austin office represented the seller and procured the buyer, both private investors.