PLANO — New York City-based The Praedium Group and Dallas-based Price Realty Corp. acquired the 500-unit Estancia at Ridgeview Ranch, a multifamily property in Plano. Estancia consists of 23 garden-style apartment buildings, and each unit features a fireplace, 9-foot ceilings, stainless steel appliances and a private balcony or sunroom. Amenities include two swimming pools, a car care center, a playground, a business center, a fitness center and a club room.
FORT WORTH — Weeks Robinson Properties has acquired two distribution centers totaling 702,000 square feet in Fort Worth. The properties are currently 56 percent leased. The seller is USAA, and George Curry, Dave Richards and Chris Skibinski of Jones Lang LaSalle brokered the transaction.
HOUSTON — Bertling Logistics, Inc. has completed construction of a 52,000-square-foot office/warehouse building on 6.576 acres. The property is located at 19054 Kenswick Drive in the Houston International Trade Center, and will serve as Bertling’s North America corporate headquarters. The land site was purchased in 2010 from Houston International Trade Center, L.P. The facility consists of 12,000 square feet of office space and 40,000 square feet of warehouse space. Kingham Dalton Wilson, Ltd. was the general contractor. Lane Guinn of JLM Commercial Advisors Inc. represented the buyer.
WYLIE — B&B Theatres plans to open a 12-screen, 58,000-square-foot movie theater, located at FM 544 and Country Club Road in Woolbridge, a master-planned community in Wylie. The theater will feature stadium seating, leather rocker-style seats, Christie digital projection and 3D capabilities in some theaters. Completion is slated for November 2012.
HOUSTON — SER-Ninos Charter School, a dual-language, open enrollment school serving kindergarten through 8th-grade students, has acquired a 60,400-square-foot retail space that once housed a Kroger, located at 5610 Gulfton St. in Houston. The property is adjacent to the existing SER-Ninos location. Mark Lehman and Bill Burge of Grubb & Ellis Co.'s Industrial Group represented SER-Ninos, while Emil Gullia of Jones Lang LaSalle represented the seller, The Kroger Company, in the transaction.
FORT WORTH — A 12.3-acre tract of land at the corner of Alta Mere Drive and Roaring Springs Road in Fort Worth has been sold. Although the sales price was undisclosed, the asking price was $2.4 million. The buyer, a private partnership, has plans to develop the parcel, which is zoned for commercial development. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, a financial institution that had foreclosed on the asset last year, and Michael Ball Realty Corp. represented the buyer.
BROKEN ARROW, OKLA. — Tulsa Tech has opened a new automotive training facility at their Broken Arrow campus. The 249,000-square-foot facility is dedicated to alternative fuel technology. The 362,698-square-foot Broken Arrow campus sits on 53 acres, and was established in 1983 with recent renovations completed in January.
FRISCO — NorthMarq Capital has arranged $2.93 million in first mortgage financing for the 18,160-square-foot Lakes Plaza, a retail center in Frisco. Ronald Reese of NorthMarq's Dallas office arranged the financing based on a 10-year term and a 20-year amortization schedule through StanCorp Mortgage Investors.
HOUSTON — A joint venture between LaSalle Investment Management, Inc. and Houston-based Midway Cos. has acquired CityCentre II, a 149,827-square-foot, mixed-use property in Houston's 1.8 million-square-foot CityCentre development. The six-story CityCentre II is currently 90 percent leased to tenants like BB&T Corp., SEACOR Holdings, Cargill, Inc., and The Tasting Room. The joint venture between LaSalle and Midway has also provided equity for the development of CityCentre III, a 120,000-square-foot, mixed-use center, which is scheduled for a late 2012 completion. Tenants for CityCentre III, which is currently 44 percent pre-leased, include Texas A&M, LLOG Exploration Co. and Montco Offshore Inc. Dan Miller, Martin Hogan and Trent Agnew of Holliday Fenoglio Fowler represented the seller, a joint venture between Midway and L&B Realty Advisors in the transaction, and Tom Fish, James Tramuto and Robby Zorich of Jones Lang LaSalle represented the buyer.
PASADENA — Houston-based Arch-Con Construction has been selected to construct a 40,000-square-foot office/warehouse complex for Total Safety-Webb Murray at 4210 Malone Dr. in Pasedena, close to LaPorte. The tilt-wall facility will house 20,000 square feet of office space, 20,000 square feet of warehouse space and a one-acre lay-down yard. Houston-based Powers Brown Architecture designed the facility, which is slated for completion in February 2012.
