Real Deals: Creekside South Apartments buys Wylie propertyJanuary 19, 2014
Creekside South Apartments buys Wylie property
Creekside South Apartments LLC has purchased 17 acres in Wylie for a 252-apartment development.
Representing Creekside in the transaction was Tom Grunnah, senior vice president of Henry S. Miller Brokerage, and Kyle Ward, an associate with the firm’s Dallas-Fort Worth Investments-Land Division.
The site, sold by Creekside Development Inc., is located at the northeast corner of McMillen and McCreary roads. The property is the last multifamily site in Wylie; development is expected to begin in first-quarter 2014, pending permits from the city of Wylie.
STAGE EQUITY ACQUIRES
CLEBURNE MEDICAL CENTER
Stage Equity Partners LLC has purchased Cleburne Medical Center office building from a private partnership group in a $5.7 million transaction.
The 25,850-square-foot Class A facility occupies a three-acre site at 2010 Katherine P. Raines Road (Texas 67) in Cleburne. Built in 2007, the building is 100 percent leased, with four complementary medical practices anchored by Cleburne Surgical Center outpatient facility. The other tenants are Cleburne Orthopedics and Sports, Pinnacle Anesthesia Consultants and Hulen MRI.
The property is near Texas Health Resource Hospital, which serves Cleburne and surrounding communities. Providing financing for the project was GE Capital.
Stage Equity Partners LLC, based in Skokie, Ill., acquires, develops and manages medical office buildings nationwide. More information is available at
SKINNY IT LEAVING ADDISON,
SIGNS LONG-TERM FRISCO LEASE
Skinny IT Corp., an Addison-based hardware and integration company, has signed a long-term lease for 18,000 square feet of headquarters and production space in Frisco.
The company plans an early March move-in to Frisco Commerce Center Building B at 10570 John W. Elliott Dr. About 50 percent of the newly leased, Class A flex industrial space will house the office headquarters for the company, which has outgrown a 3,000-square-foot space in Addison.
"Frisco is where the partners live, and this is where they wanted to be," said Nick Talley, market director of Dallas-based Bradford Commercial Real Estate Services, in a news release. "They have been outsourcing all across the U.S. Now, they want to bring it together under one roof."
Talley had sought space in the far North Dallas submarket for almost four months on behalf of Skinny IT founders CEO Sam Darwish and COO Raju Padole. Representing the landlord, SeaCal Frisco LLC, in the transaction was Bob Hagewood of Stream Realty Partners LP of Dallas.
UPTOWN CHEAPSKATE LEASES
AT HULEN FASHION CENTER
Uptown Cheapskate, a fashion resale shop, has signed a lease to open a 5,041-square-foot store at Hulen Fashion Center, 5230 S. Hulen St. in Fort Worth. Representing the tenant in the transaction was Amy Ramirez of CB Richard Ellis; Easley Waggoner Jr. of Venture Commercial represented the landlord.
OTHER SALES, LEASES
Family Dollar has purchased 47,000 square feet at the southwest corner of Golden Triangle Boulevard and North Beach Street in Fort Worth for a new retail location. Representing the seller in the transaction were Craig Johnson and Taylor Roberts of John T. Evans Co.
A private investor has snapped up the 19,000-square-foot A-Thrifti Self Storage, 2115 Eighth Ave., and the 30,000-square-foot A-1 Self Storage, 2620 W. Pafford St., in Fort Worth from another private investor. Representing both the seller and buyer in the transaction was Brandon Karr of Marcus & Millichap.
The buyer plans to modernize the facilities and improve operations and management. The properties were on the market for only a day.
Party City Corp. has signed new leases to open stores in Lake Worth and Grand Prairie. Representing Party City in both leases were Larry Leon, Jonathan Cooper and Ross McCook of Venture Commercial.
The 13,721-square-foot Lake Worth store is located in the Lake Worth Towne Crossing Shopping Center, 6548 Lake Worth Blvd. Representing the landlord in the transaction was Jeff Kittleson of CB Richard Ellis.
The 12,420-square-foot Grand Prairie store is at Lake Prairie Town Crossing Shopping Center, 5248 S. State Highway 360. Representing the landlord, Kimco Realty Corp., in the transaction were Chris Corbin and Easley Waggoner of Venture Commercial.
TAK Enterprises has purchased three acres at Precinct Line Road and LaVaca Trail in Colleyville from Realty Capital Management.
Representing the seller in the transaction was Mark Boone, director of commercial sales and leasing with Realty Capital. Kyle Moss of Moss Commercial Real Estate represented the buyer.
An out-of-state individual-personal trust has bought the 16,000-square-foot Green Oaks Village, 3851 Southwest Green Oaks Blvd. in Arlington, from a limited liability company whose name was not disclosed.
Representing the seller and procuring the buyer in the transaction were Marcus & Millichap investment specialists Ron Hebert and Blake Burnett. The property was 94 percent occupied at the time of sale.
Institutional Property Advisors Capital Markets has arranged $11.5 million in debt financing for a Bedford property. IPA executive director Will Balthrope, IPA associate director Drew Kile, Marcus & Millichap vice president Nick Fluellen and associate Bard Hoover referred the borrower of the 220-unit complex in Bedford to Brian Adams, IPA associate director. The 10-year fixed loan amortizes over 30 years after one year interest only.
Coldwell Banker Residential has renewed 4,170 square feet of office space in Commonwealth Center, 4200 S. Cooper St., Arlington. Judy Nitzinger of SCM Real Estate Services represented the landlord, Hung's Enterprise LLC, in the direct deal.
Michael Brown Productions has renewed a lease for 3,322 square feet of retail space in Park Center Shopping Center, 1730 W. Randol Mill Road, Arlington. Christopher Mendez of SCM Real Estate Services represented the landlord, Randol Mill/Fielder LLC, in the direct deal.
Donald G. McCartney PC has renewed a lease for 1,710 square feet of office space in Cordovan Park, 5840 W. Interstate 20, Arlington. Darrel Higginbotham of SCM Real Estate Services represented the landlord, Texas Trust Credit Union, in the direct deal.
Critical Site Solutions Inc. has renewed a lease for 6,048 square feet of office space at 8304 Esters Blvd. in Irving. Brock Wilson, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Joe Santaularia, market director, represented the tenant. Jeff Paschal of PS Business Parks Inc. represented the landlord.
Granbury Medical Center has leased 2,050 square feet of space at 620 Fall Creek Highway, expanding the facility’s outpatient treatment capacity. Representing landlord Corey Fickes in the transaction was Christy Neill, agent for Coldwell Banker Commercial.
Neo Tech Wireless Inc. has leased 47,959 square feet of warehouse space at Plano Parkway-190 Business Centers, 1701 E. Plano Parkway, from IAC North Dallas LLC. Susan Singer, executive vice president of Bradford Commercial Real Estate Services, and Michael T. Grant, senior vice president and managing partner, represented the landlord. Joe Yoon of Realty Bank Group represented the tenant.
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