Real Deals: Grapevine medical center leasingJuly 3, 2014
The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.
Leasing under way at Grapevine medical offices buildings
Leasing is under way at two medical office buildings adjacent to Baylor Regional Medical Center at Grapevine.
The properties, marketed by Southlake-based Champions DFW Commercial Realty, are part of growing medical real estate development in the Southlake-Grapevine area.
At the Clearview I building, 1643 Lancaster Drive, 15,000 square feet of office space are available inside the 40,000-square-foot structure. Tenants currently leasing space include Baylor Institute for Rehabilitation & Outpatient Care, Texas Retina Associates and LabCorp.
At Clearview II, 1631 Lancaster Drive, 25,000 square feet of office space are available inside the 78,000-square-foot medical office building. Tenants include Baylor Breast Center, Texas Oncology, and Urology Associates of Texas.
“We are excited about this new opportunity to list 40,000 square feet of medical office space, and we are looking forward to these properties attracting outstanding medical practices into the growing Grapevine-Southlake market,” said Jim Kelley, president-broker of Champions DFW, commenting in a news release.
More information is available at www.championsdfw.com.
Brentwood Apartments in Fort Worth, others to receive refi loans
Brentwood Apartments in Fort Worth is among three multifamily properties statewide approved for refinancing loans, as arranged by BMC Capital. Brentwood received $2.4 million, with Court of Charleston in Houston receiving $2.2 million; and Melrose Place in Houston receiving $1.1 million. Terms of the loans featured different fixed rates. For Brentwood, that meant a five-year fixed rate of 4.7 percent and 25-year amortization; Court of Charleston, a five-year fixed rate at 3.5 percent and a 30-year amortization; and for Melrose Place, a seven-year fixed rate at 5.2 percent and a 25-year amortization.
Hulen Gardens in Fort Worth purchased
Hulen Gardens, a 200-unit apartment complex at 7419 Tallow Wind Trail in Fort Worth, has been purchased by Dallas-based Wak Management.
Fortis Co. of Shreveport, La. sold the property for an undisclosed price.
Hulen Gardens marks Wak Management’s second asset in the South Fort Worth submarket.
Representing the buyer and seller in the transaction was Chris Deuillet of CBRE.
“Efficiently allocating expenses is key to gaining a strong return on investment,” Deuillet said in a news release.
Hulen Gardens features a tennis court, swimming pool, fitness center, playground, covered parking and access gate. Unit amenities include private patios and balconies, wood-style flooring, vaulted ceilings, brushed nickel ceiling fans and black appliance packages.
Cidema II LP has purchased 93,000 square feet at 2817 and 2829 Braswell Drive in Fort Worth. Representing the buyer in the transaction was Todd Hawpe of Transwestern.
An unnamed limited liability company has purchased the 36,000-square-foot Mustang Square retail property at 3105 Ira E. Woods Ave. in Grapevine from a personal trust. Representing the seller in the transaction were Philip Levy and Chris Gainey of Marcus & Millichap. Levy also represented the buyer.
Ace Queen has purchased a 32,000-square-foot building at 621 South Freeway in Fort Worth. Michael Newsome of NAI Robert Lynn and Chris Armstrong of Fischer & Co. represented the seller. Scott Lowe of Vision Commercial represented the buyer.
Corliss Stone-Littles has purchased Meadows Creek Plaza building at 8180 Precinct Line Road in Colleyville for its corporate headquarters. Representing the seller in the transaction was Mark Boone of Realty Capital Management.
Ludwig Investments LLC has purchased 14.73 acres for an undisclosed price northwest of Highway 287 and Willow Springs Road in Fort Worth, according to Xceligent Inc. Representing the seller, Pinnacle Bank, in the transaction were Lester Day and Matt Bilardi of Transwestern-Fort Worth.
Keith A. Hoogland Ltd. Partnership has purchased 19,384 square feet for an undisclosed price at 8021 Matlock Road in Arlington, according to Xceligent Inc. Representing the buyer in the transaction was Ken Wimberly of KW Commercial, with Troy Morgan of Structure Commercial representing the seller, Pinnacle Bank.
Farmers Insurance has leased 2,180 square feet at Commonwealth Center, 4200 S. Cooper St. in Arlington, according to Xceligent Inc. Representing the tenant and landlord, Hugh Enterprises LLC, was Judy Nitzinger of Coldwell Banker Commercial Alliance DFW.
Kingdom Global Ministries Inc. has leased 2,264 square feet at the Timber Oaks Office Park, 2250 Pool Road in Grapevine, according to Xceligent Inc. Representing the tenant and landlord, Riley Family Trust, in the transaction was Shane Strickland of Hudson Peters Commercial.
JJ Freight has leased 1,367 square feet at the Morrow Building, 235 Northeast Loop 820 in Hurst, according to Xceligent Inc. Representing the tenant and landlord in the transaction were Eric Deuillet and Brian Cyphers of Structure Commercial.
Capital Advance has leased 560 square feet at the Morrow Building, 235 Northeast Loop 820 in Hurst, according to Xceligent Inc. Representing the tenant and landlord in the transaction were Eric Deuillet and Brian Cyphers of Structure Commercial.
Omnitek Products Inc. has leased 6,500 square feet at Port America Place, 752 Port America Place in Grapevine, according to Xceligent Inc. Representing the landlord, AMB Institutional Alliance LP/Prologis Inc., in the transaction were Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas.
VLB Enterprises has leased 3,520 square feet at Cooper Street Plaza, 4601-4629 S. Cooper St. in Arlington, according to Xceligent Inc. Representing the tenant and landlord in the transaction were Eric Deuillet and Troy Morgan or Structure Commercial.
Grassroots Groundgame has leased 543 square feet at the Liberty Bank building, 7001 Boulevard 26 in North Richland Hills, according to Xceligent Inc. Representing the tenant and landlord, 7001 Partners LP, in the transaction were Jeffrey Day and Zac Thomas of Centra Partners LLC-Fort Worth.
Hollywood Feed has leased 2,993 square feet at Colleyville Towne Square, 5600 Colleyville Blvd. in Colleyville, according to Xceligent Inc. Representing the tenant in the transaction was Alden Harris of SHOP COS, with Josh Mann and Gavin Fite of Street Commercial representing the landlord.
A1 Locksmith has leased 1,320 square feet at Colleyville Town Square in Colleyville, according to Xceligent Inc. Representing the landlord in the transaction were Josh Mann and Gavin Fite of Street Commercial.
Precision Siding and Construction Co. has leased 13,596 square feet at 2002-2006 N. Texas 360 in Grand Prairie, according to Xceligent Inc. Representing the tenant in the transaction was Tim Vodgs of CBRE, with Michael Spain, Jim Ferris and Will Dillard of Bradford Commercial Real Estate representing the landlord.
Grace Movers has leased 2,000 square feet at 2410 Minnis Drive in Haltom City, according to Xceligent Inc. Representing the tenant in the transaction was Chad Snyder of CASE Commercial Real Estate, with Ed Runyon of WFR Properties representing the landlord, WFR Properties.
MOL Logistics has renewed its lease for 11,700 square feet of warehouse space at 750 Port America Place in Grapevine. Representing the tenant in the transaction were Brock Wilson, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Joe Santaularia, vice president. Gil Stroube of Lincoln Property Co. represented the landlord, ProLogis Targeted US.
Reuseit LLC has leased 11,607 square feet of warehouse space at 3407 Avenue D in Arlington from Realty Associates Fund VII LP. Representing the tenant in the transaction was Jim Ferris, vice president of Bradford Commercial Real Estate Services. Chris Bly and Dan Lawson of Proterra Properties LLC represented the landlord.
First Bank and attorney Carla W. Earwood have leased 8,769 square feet and 1,735 square feet of office space, respectively, in Preston Pointe Centre, 1400 Preston Road in Plano. Representing the landlord in the transaction were Sharon Friedberg and Melanie Hughes, senior vice presidents of Bradford Commercial Real Estate Services. Jeff Sheehan of Site Selection Group LLC represented First Bank. The law office lease was a direct deal.
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