Real Deals: TCU housing properties soldJune 22, 2014
Join The Discussion
The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.
TCU housing properties sold
Sandage Avenue Homes at TCU, a 12-bedroom student housing property just east of Texas Christian University, has been sold to a Dallas-based limited liability company.
Marketing the property on behalf of the seller, Purple Properties LLC, were Mason B. Green and Vincent Knipp, senior associate and associate vice president-investments, respectively, with Marcus & Millichap Commercial Real Estate Services-Fort Worth.
The buyer was secured and represented by Matt Davis, an associate in Marcus & Millichap’s Dallas office.
Sandage Avenue Homes at TCU, at 3128 and 3132 Sandage Ave., are six-bedroom, four-bathroom homes serving the Texas Christian University campus.
MOVES IN WORKS FOR J&J SUPPLY
AND CALIBER COLLISION
J&J SUPPLY is moving from its White Settlement Road location to 601 N. Beach St. in Fort Worth.
The announcement comes after the Beach Street property was purchased by C&S Cochran Realty LLC.
Representing the buyer in the transaction was Gary E. Vasseur of Coldwell Banker Commercial Searcy Vasseur Group. Shannon M. Owens of Glacier Commercial Realty LP represented the seller, S&S Realty Ltd.
J&J Supply will occupy an 18,000-square-foot building on the 30,000-square-foot property.
Meanwhile, Caliber Collision Centers is moving from its West Seventh Street location to 2510 White Settlement Road in Fort Worth.
The announcement comes after the White Settlement property was purchased by Cross Development CC White Settlement LLC, a Texas limited liability company.
Representing the buyer and seller, HCS Co., in the transaction was Gary E. Vasseur of Coldwell Banker Commercial Searcy Vasseur Group.
Caliber Collision Centers will occupy a 33,000-square-foot building on the 72,000-square-foot property.
FAMILY DOLLAR ON HEMPHILL SOLD
The Family Dollar store at 2606 Hemphill St. in Fort Worth has been sold to a California buyer as the retailer extends its lease for five years.
The current lease is set to expire on Dec. 31, 2018. Family Dollar has three five-year options remaining.
Marketing the property on behalf of the seller, a partnership, were Vincent Knipp and Chance Hales, associate vice president-investments and an associate, respectively, with Marcus & Millichap’s Fort Worth office.
MANCHESTER PARK APARTMENTS
IN NORTH ARLINGTON SOLD
The Manchester Park apartment complex at 2011 Lincoln Drive in North Arlington has been sold to California-based Brookline Investment Group.
The seller, Landmark Apartment Trust, was represented in the transaction by Chris Deuillet and Dirk Goris of CBRE-Dallas.
“Out-of-state investors are actively pursuing deals in Dallas-Fort Worth due to the area’s strong economic factors and particularly tight apartment market,” Deuillet said in a news release.
According to CBRE, investors have shown interest in what they consider high-quality, high-density apartment buildings in the North Arlington submarket as several multifamily properties along Lamar Boulevard undergo demolition.
“With the AT&T Cowboys Stadium to the south and the master-planned Viridian community to the north, North Arlington is ripe for redevelopment and appreciation for investors,” Deuillet said.
Brookline plans to revitalize 10,000 square feet of unused clubhouse space at Manchester Park, including six racquetball courts.
TOWN CENTER COLLEYVILLE
GAINS STUDIO MOVIE GRILL
Venture Commercial brokered the lease and assignment of the new Studio Movie Grill at Town Center Colleyville.
The theater, formerly Colleyville Cinema, opened in late May.
Representing American National Bank Special Assets LLC in the transaction were Venture’s John Zikos and Chris Booras. They oversaw the sale and assignment of two leases on the 51,935-square-foot building to Studio Movie Grill Holdings LLC. Larry Leon and Ross McCook, also of Venture, assisted in the transaction.
Town Center Colleyville retail center, at Highway 26 and Hall Johnson Road, offers about 258,000 square feet of retail space. Venture Commercial handles leasing and property management for its new owners, an investment partnership formed by Velocis Partners.
MATTRESS FIRM, PETCO HEADED FOR
SOUTH TOWNE CROSSING IN BURLESON
Mattress Firm and Petco are set to join tenants at South Towne Crossing retail center in Burleson as Southlake-based N3 Real Estate acquired 4.38 acres for up to 29,000 square feet of retail space.
Located on the northeast corner of Wilshire Boulevard and John Jones Drive, the development will include Mattress Firm in a freestanding building, a Petco store and up to 12,000 square feet of space available for lease next to Target.
Representing Mattress Firm and Petco in the transaction was Tim Hughes of Falcon Realty Advisors. The available space is being leased by Scott Rodgers of DuWest Realty.
“We are especially excited about this project’s location over the long term due to the recent opening of the Chisholm Trail Tollway,” said N3 CEO Bill McGuire in a news release.
N3 Real Estate, a retail real estate investment development, has completed more than 200 developments for national and regional retailers.
Ryder Truck Rental has purchased 1.02 acres at Texan Trail in Grapevine for $600,000, according to Xceligent Inc. Representing the seller in the transaction were Brent Wicker and Randy Church of Wicker & Associates.
J&J Leasing has purchased 29,700 square feet at 1021 S. Handley Drive in Fort Worth for $531,078, according to Xceligent Inc. The seller, Youghal Corp., was represented in the transaction by Michael Newsom and Todd Hubbard of NAI Robert Lynn.
FlexXray has leased 40,000 square feet at 3751 New York Ave. in Arlington from G&I VII Midpoint. Representing the tenant in the transaction were Trey Fricke and Reid Bassinger of Lee & Associates. The landlord was represented by Matt Dornak of Stream.
USHealth Administrators has leased 57,000 square feet at 300 Burnett St. in Fort Worth. Representing the tenant in the transaction were Grant Huff, Jack Huff and Kyle Poulson of Transwestern-Fort Worth.
United Technologies Corp. has leased 65,000 square feet at 1177 N. Great Southwest Parkway in Grand Prairie from Coherent Properties. Representing the tenant in the transaction was Gary Collett of Cushman & Wakefield. The landlord was represented by Kevin Brookmole and Wade Smith of Colliers International.
Kubota Tractor Corp. has renewed its lease for 42,000 square feet at 4300 Diplomacy Road in Fort Worth. John Fulton of Transwestern represented the landlord.
Total Wine & More has leased 33,000 square feet in Arlington. The landlord, WindStar Texas Investors, was represented in the transaction by Cynthia Bailey of WindStar Properties. The tenant was represented by Darrell Hernandez and Jack Breard of UCR.
Align Aerospace has leased 5,169 square feet at Westway Aetna Building 7, 4300 Centreway Place in Arlington, according to Xceligent Inc. Representing the tenant in the transaction was Steve Koldyke of CBRE-Arlington, with Bryan Graham of CBRE representing the landlord.
Capex & Line Drive Express has leased 4,883 square feet at Prologis Port America 15 at 751 Port America Place in Grapevine, according to Xceligent Inc. Representing the landlord in the transaction were Gil Stroube and Oscar Couto of Lincoln Property Co.
APEX has leased 6,562 square feet at Prologis Port America 20, 756 Port America Place in Grapevine, according to Xceligent Inc. Representing the tenant in the transaction was John Bielamowiz of Henry S. Miller Brokerage Co., with Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas representing the landlord.
Cycom has leased 550 square feet at Prologis Port America 29, 755 Port America Place in Grapevine, according to Xceligent Inc. Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas represented the landlord in the transaction.
Sprouts has leased 36,320 square feet at EDK Plaza, 300-316 Grapevine Highway in Hurst, according to Xceligent Inc. Representing the landlord in the transaction were Dan Avnery and Bobby Montgomery of NAI Robert Lynn-retail division.
Jazzercise Fort Worth has leased 3,690 square feet at 2920-2924 Cleburne Road in Fort Worth, according to Xceligent Inc. Mack House and Melissa Kulig of The Westover Group represented the landlord in the transaction.
Send real estate news to firstname.lastname@example.org