NEW YORK — Blueprint Healthcare Real Estate Advisors has brokered the sale of eight skilled nursing facilities located throughout Texas. Chicago-based Mozart Healthcare acquired seven of the facilities and negotiated leases with two Texas-based operators to run the portfolio. Regional operator Trinity Healthcare acquired the eighth facility. Christopher Hyldahl and Gideon Orion of Blueprint represented the seller, a national owner based in New York. The prices and names of the facilities were not disclosed.
FRISCO, TEXAS — Coworking firm Venture X will open a 30,000-square-foot office space at Stonebrook Business Park in Frisco. Chris Doggett and Ashley Curry of JLL represented the landlord, Goveia Commercial Real Estate, in the lease negotiations. Ryan Hoopes and Tom Sutherland with Cushman & Wakefield represented Venture X, which has five open locations in the DFW area and several more in the pipeline. The Stonebrook space is expected to open during the second quarter.
HUMBLE, TEXAS — Marcus & Millichap has arranged the $6.8 million sale of McKay Medical Plaza, a 23,886-square-foot medical office building in the northern Houston metro of Humble. David Luther and Morgan Hansen of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
Entertainment concepts have long since adopted an “everything under one roof” approach that packages some combination of food, drink, movies, bowling, arcades and other games into a single destination. But competition in the space is growing, and owner-operators are facing mounting pressure to offer an ideal mix of activities that keeps people onsite longer and boosts return visits. What that combination is varies from market to market and even site to site. But without question, the breadth of games and activities offered at entertainment centers in Texas is expanding and evolving. What’s Hot, What’s Not Virtual reality (VR) shooting games and driving simulators, axe-throwing arenas and elevated food and beverage (F&B) components are among the key features that are driving traffic to entertainment centers and the retail properties that house them. Movie theaters and bowling alleys are evolving as well. According to Jeff Benson, CEO of Dallas-based Cinergy Entertainment Group, it’s very unlikely that new theaters in large and mid-sized markets will ever be built without certain features. “The movie business has changed a lot in 20 years, and I doubt you’ll ever see another theater built without a bar, recliner seats and dine-in options,” says Benson, who founded dine-in …
HOUSTON — Stonelake Capital Partners, a private equity firm with offices in Dallas, Houston and Austin, has broken ground on Park Place Tower, a 210,000-square-foot office building located at 4200 Westheimer Road in Houston. The 15-story property, which will include ground-floor retail space, represents the third phase of the Park Place | River Oaks development. The building is expected to be available for occupancy in spring 2020. Beck Architecture handled design for the project and Harvey Builders served as general contractor. Texas Capital Bank provided construction financing, and Colvill Office Properties is handling leasing of the office space.
CLEAR LAKE CITY, TEXAS — Houston-based Keener Investments has acquired Terrace Villas, a 150-unit multifamily property in Clear Lake City, about 25 miles southeast of Houston. The garden-style property features one-, two- and three-bedroom units averaging 831 square feet per residence. Amenities include a pool, business center, playground, clubhouse and a coffee bar. Keener will upgrade the property’s unit interiors and amenity spaces. The seller was not disclosed. Warren Hitchcock of NorthMarq Capital arranged a bridge loan of an unspecified amount for the acquisition through a life company on behalf of Keener Investments.
FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 200,000-square-foot industrial lease renewal at 6401 Oak Grove Road in Fort Worth. Matt Carthey and Thomas Grafton of Holt Lunsford represented the landlord, TA Realty. Reid Bassinger of Lee & Associates represented the tenant, consumer goods distributor Core-Mark Midcontinent.
PLANO, TEXAS — California-based private equity real estate firm KBS has sold Parkwood Place, a 98,750-square-foot office building located in the Legacy area of Plano, a northeastern suburb of Dallas. The two-story, Class A building, which offers a tenant lounge and a conference facility, was approximately 91 percent leased at the time of sale. Robert Hill, Gary Carr and John Alvarado of CBRE represented KBS in the sale. The buyer was not disclosed.
HOUSTON — NAI Partners has arranged two industrial leases totaling 54,480 square feet at Round Up Distribution Center in Houston. In the first transaction, U.S. Tsubaki Power Transmission, a provider of roller chains and sprockets, leased 26,400 square feet. In the second deal, LaForce Inc., a distributor of commercial doors, leased 28,080 square feet. Ryan Searle, Nick Peterson and John Ferruzzo of NAI Partners represented the landlord, Liberty Property Trust, in both lease negotiations.
FORT WORTH, TEXAS — On behalf of one of its separately managed accounts, Transwestern Investment Group (TIG) has acquired a 1.2 million-square-foot industrial complex in Fort Worth from DHL Supply Chain, a German logistics company. Built in 2018, the property features two cross-dock buildings totaling 705,955 square feet and 494,041 square feet, with 36-foot clear heights and access to Interstate 35 and State Highway 114. Dustin Volz of JLL represented the seller in the transaction. CBRE is providing leasing services. The sales price was not disclosed.