HASLET — Invesco Real Estate has purchased a 747,528-square-foot Kraft Distrubution Center, an industrial property located in the Alliance Business Park at 2617 Blue Mound Rd. in Haslet. The property is fully leased to Kraft Foods. Jack Fraker and Josh McArtor of CBRE's Dallas office represented the seller, USAA Real Estate, in the transaction.
HOUSTON — Situs Asset Solutions has arranged the sale of a 57-room Comfort Inn & Suites, located at 3555 FM 1960 in Houston. Stephen Kradjian and Maury Bronstein of Situs' Houston office represented the seller, Champion 3555 FM 1960 W BACM07-02 LLC, in the transaction. Mahul Hajari of Avondale, La.-based Hajari Realty represented the buyer, an out-of-state investor.
KINGWOOD — Cleveland-based Woodside Health has acquired the 29,162-square-foot Kingwood Executive Center, a medical office building complex located at 201 Kingwood Medical Dr. in Kingwood. The two-building property features a koi pond and a garden. Ted Barr of Middleburg Heights, Ohio-based Crescendo Commercial Realty represented the buyer in the transaction. The seller was represented by Grubb & Ellis Co.
DALLAS — ValuePart has renewed and expanded its lease by 22,302 square feet, bringing the total lease to 84,567 square feet, at 9804 Chartwell in Dallas. The landlord, BRE/TX Industrial Properties, was represented by Cannon Green and Seth Koschak of Stream Realty's Dallas office in the lease transaction. Nathan Orbin and Ben Phillips of Jones Lang LaSalle's Dallas office represented the tenant.
DALLAS — Rick's Cabaret International has signed an agreement to acquire a 54,000-square-foot retail property partially leased to Silvery City Cabaret, an adult nightclub located at 7501 N. Stemmons Freeway in Dallas, for $12 million. Rick's Cabaret is planning on rebranding the Silver City Cabaret and adding a Tootsie's style Knockers Sports Bar to the facility, which is only using 14,000 square feet currently.
HOUSTON — Colliers International has arranged the sale of a 20,750-square-foot medical office building, located at 1325 La Concha Ln. in Houston. Christopher Winters of Colliers' Houston office represented the seller, Treeline Partners, in the transaction. Jim Houmani of Houston-based Xander Properties represented the buyer, Sugar Land-based Saroj Kirby, LLC.
ODESSA — Love Funding has secured an $8.91 million construction-to-permanent loan for the 97-bed Orchard Park of Odessa, a 69,500-square-foot assisted living community in Odessa. Joshua Hausfeld of Love Funding's Washington, D.C., office secured the 40-year loan through HUD's 232 LEAN Program on behalf of the owners, McFarlin Group and Stroud Development, both of Dallas. The facility is slated to open in late 2012.
FRISCO — Dallas-based Gearbox Software has pre-leased 61,000 square feet of office space at the $60 million Frisco Square development, which is designed by O'Brien Associates. Gearbox's new headquarters will add approximately 205 jobs. The eight-story development will feature 100,000 square feet of office space, 50,000 square feet of retail space and 220 residential apartment units. James Esquivel and Jeff Eckert of Jones Lang LaSalle's Dallas office represented the landlord, Frisco Square Development, in the leasing transaction. Baron Aldrine of CBRE's Dallas office represented the tenant.
AUSTIN — The 104-unit French Quarter Apartments, located at 2211 W. North Loop Blvd. in Austin, has been sold. Ellen Muskin of Austin-based Muskin Commercial represented the seller, La Jolla, Calif.-based French Quarter Apartments, LP, in the transaction. The buyer was an investment fund managed by Los Angeles-based Latitude Management Real Estate Investors. Brian Eisendrath of CBRE's Los Angeles office arranged new financing for the acquisition. Martine Properties will continue to manage the multifamily complex.
ABILENE — Marcus & Millichap has brokered the sale of the 84-unit The Camelot Apartments, a multifamily complex located at 5241 Alamo Dr. in Abilene. Mason Green and Boyan Radic of Marcus & Millichap's Fort Worth office represented both the buyer, a Florida-based limited liability company, and the seller, a California-based investor in the transaction. The complex was 98 percent occupied at the time of the sale.