Real Deals: Apartments change handsMarch 23, 2014
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The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.
Woodstone Apartments changes hands
Woodstone Apartments in Fort Worth has been sold, with a California limited liability company snapping up the 200-unit property at 6051 Bridge St.
The seller, The Ergas Group of Vancouver, Canada, owned the property for almost 20 years. It was 95 percent occupied at the time of closing and attracted 10 purchase offers in a four-week marketing period.
Marketing the property on behalf of the seller was Al Silva, vice president of investments in Marcus & Millichap Real Estate Investment Services’ Fort Worth office. The buyer also was secured by Silva.
The new owner placed a new, 10-year Fannie Mae loan on the property and plans to make both exterior and interior improvements.
HALLMARK CONCEPT STORE
TO OPEN IN SOUTHLAKE
HMK is headed for Southlake Town Square. The 4,000-square-foot store at 1466 Main St. is expected to open in April. The store marks Texas’ first HMK, a concept by Hallmark Cards Inc. that sells baby and children’s gifts, greeting cards and gift wrap, among other items.
Representing the landlord in the transaction was Jason Kasal, vice president and a senior leasing director with Retail Properties of America Inc.
APPLIED NATURAL GAS BUYS ACREAGE
IN TXI’S MIDLOTHIAN BUSINESS PARK
Texas Industries Inc. and CBRE Group Inc.'s Industrial Brokerage Services Group have sold 31 acres in TXI's RailPort Business Park in Midlothian to Applied Natural Gas Fuels Inc.
Applied Natural Gas, based in Westlake Village, Calif., plans to use the property for a multi-liquefier liquefied natural gas production platform.
RailPort is a 1,700-acre business and industrial park served by both the Burlington Northern Santa Fe and Union Pacific railroads; it is situated between Fort Worth and Dallas on U.S. 67 just south of U.S. 287.
Representing the seller in the transaction was Dave Anderson, with CBRE Group Inc. in Dallas. The buyer was represented by Brandi McDonald with Newmark Grubb Knight Frank in Houston.
Mexico Lindo has signed a lease for 2,800 square feet at Northpark Business Center, 1500 Northpark Drive in Fort Worth, according to Xceligent Inc. Representing the tenant and landlord in the transaction was Terry Williams of Williams Realty Group.
Title Boxing Club has signed a lease for 6,001 square feet at The Tower, 500 Throckmorton St. in Fort Worth, according to Xceligent Inc. Representing the tenant in the transaction was Gordon Atkinson of The Weitzman Group. Shelley Taylor of The Retail Connection-Dallas represented the landlord.
Recovercare has signed a lease for 20,000 square feet at GSW Distribution Center, 909-913 W. North Carrier Parkway in Grand Prairie, according to Xceligent Inc. The tenant was represented by Brian Ritchie of Pointline, with Mark Graybill and Scott Giordano of Lee & Associates-Dallas representing the landlord, BRE/TX Industrial Properties.
Lone Star Mobile Pet Vet PLLC has signed a lease for 2,450 square feet at Basswood Crossing, 7451 N. Beach St. in Fort Worth, according to Xceligent Inc. Scott Jackson of Hudson Peters Commercial represented the tenant in the transaction. Bobby Montgomery of NAI Robert Lynn’s retail division represented the landlord, Basswoodbeach Crossing Ltd.
Lauren Gaydos Duffer PC has leased 4,679 square feet in Skymark Tower at 1521 N. Cooper St. in Arlington. Representing the landlord, CSFB Skymark Tower LLC, in the transaction were Kurt Cherry and Brittany Ricketts of PM Realty Group.
Meanwhile, the Weaver Law Firm has renewed its lease for 2,961 square feet at Skymark. Cherry and Ricketts represented the landlord, CSFB Skymark Tower LLC. Skymark Tower is 84 percent leased.
Baker Family Property Co. Ltd. has purchased 8,000 square feet for $301,179 at 3705 E. First St. in Fort Worth, according to Xceligent Inc. JLL, formerly Jones Lang LaSalle, represented the buyer, and Jennifer Johnson of Synergy Realty Advisors represented the seller, Steven W. Buyers.
LTG & Associates Inc. has purchased 75,672 square feet from South Park Station Inc. and Hickman Properties Inc., according to Xceligent Inc. The $753,000 purchase was for space at 213 E. McLeroy Blvd. in Saginaw. Representing the buyer in the transaction was Todd Hawpe of Transwestern–Fort Worth.
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