Crockett Shopping Center

DALLAS-Locally based Metropolitan Capital Advisors has arranged three fixed-rate mortgages for three properties, totaling $9.4 million. Todd McNeill was responsible for arranging the non-recourse loans with a local bank and a Wall Street Conduit. The loans were for:

Crockett Shopping Center, Crockett, TX. The 58,050-square-foot, one-story, neighborhood retail center is located on Loop 304.  The 5.75% fixed rate loan was in the amount of $1.3 million for a seven-year term and 30-year amortization.

Jackson Square Shopping Center, Jackson, TX. The 114,192-square-foot shopping center is anchored by Bealls.  The property is on SH 69 and has a loan with a 5.75% fixed rate in the amount of $2.4 million. The loan carries a seven-year term and 30-year amortization.

Main Valley Shopping Center, Lewisville, TX.  The shopping center on Main Street is anchored by a Dollar General, AutoZone and CVS Pharmacy.  The $5.6 million loan has a 4.55% fixed rate, a 10-year term and a 30-year amortization.

ACQUISITIONS/DISPOSITIONS

ARIZONA

Chandler

  • A limited liability company sold the 29,945-square-foot Kohl’s San Tan Plaza Shops at 1400 S. Arizona Ave. for $3.6 million. Jamie Medress and Mark Ruble with Marcus & Millichap Real Estate Investment Services represented the seller.

Phoenix

  • Cactus Peak LLC of Malibu, CA acquired the 31-unit Bougainvillea Garden Apartments at 2032 W. Orangewood Ave. from Bougainvillea Garden Apartments LLC of Santa Barbara, CA. Brian Smuckler and Jeff Seaman of CBRE represented the seller in the $1.4 million sale. The buyer was represented by Scott Trevey of Kasten Long Commercial Group.

TEXAS

Abilene

  • 7th Street Abilene Partners LLC sold a 40,000 square-foot commercial warehouse at 226 E. 7th St. Russ Webb with Silver Oak Commercial Realty represented the seller. Tom Niblo with Senter Realtors represented the buyer.

Brookshire

  • Woods Road One LP sold 192 acres on Woods Road, near Cinco Ranch. The seller was represented by Transwestern’s Carlos P. Bujosa and A. David Schwarz III.

Houston

  • Union Crossing Development LP acquired 23.7 acres in Telge Industrial Park, Telge Road at Northwest Lake Drive. John F. Littman, B. Kelley Parker, Coe Parker Tim M. Thomas with Cushman & Wakefield of Texas Inc. represented the seller, Wyman Gordon Forgings Inc. Jeff Pittman with CBRE represented the buyer.

 


LEASING

TEXAS

Arlington

  • ServiceFirst Mortgage has expanded into a 5,398-square-foot space at Cordovan Park, 5840 West I-20 . Beaux Riley with SCM Real Estate Services represented the tenant in this transaction. Darrel Higginbotham, also with SCM Real Estate Services, represented the landlord.

Denton

  • Rusty Taco leased an 1,828-square-foot space on East Hickory Street between Austin and Industrial Streets near the University of North Texas.  This will be the 10th Texas location for Rusty Taco and the first location in Denton.  Jason Puig and  Lee Loftis with SRS Real Estate Partners represented the tenant.  Greg Johnson with Verus Real Estate Advisors represented the landlord, VOW 210 E Hickory LLC.

Flower Mound

  • Rosemount, Inc. signed a lease for 3,943 square feet at Surrey Ranch Office Park, 1011 Surrey Lane. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the landlord and Tyler Maner and Tim Terrell with Stream Realty represented the tenant.

Garland

  • Anesthesia Business Consultants expanded into 3,111 square feet at Chase Bank building, 3200 Broadway Ave. Beaux Riley with SCM Real Estate Services represented the landlord in this transaction.

Grapevine

  • Rising Point Solutions expanded into 3,457 square feet at 4851 Merlot Ave. LeAnn Brown with Silver Oak Commercial Realty represented the landlord in the direct deal.

San Antonio

  • Assured Information Security Inc. leased 5,023 square feet at Northwood Tower, 1777 NE Loop 410.  Seth Prescott of Stream Realty Partners represented the tenant.
  • Care Professional Nursing leased 966 square feet at CSS Building, 6655 First Park Ten. Michael T. Kent and Seth Prescott of Stream Realty Partners represented the landlord.
  • Everlasting Home Health  renewed 1,513 square feet at Centre Plaza, 45 NE Loop 410. Carolyn Hinchey Shaw and Seth Prescott of Stream Realty Partners represented the landlord. The brokers also represented the landlord at the same location in a 671-square-foot lease to Everlasting Freedom.
  • South Texas Engineering renewed and expanded into 2,938 square feet at Brass Professional Center at 4241 Piedras Dr. Ryan Harrison of Stream Realty Partners represented the tenant. The landlord was represented by Jill Strauss of Magi Real Estate.
  • Urbina Chiropractic renewed 955 square feet at Woodlake Plaza at 4883 Fredericksburg Rd. Michael T. Kent of Stream Realty Partners represented the landlord. Kent also represented the landlord in a 1.870-square-foot lease renewal for tenant Daniel Beltran at 4801 Fredericksburg Rd.

Southlake

  • TQC has expanded– now occupying 8,000 SF at 2050 Greenwood Drive in Southlake. LeAnn Brown with Silver Oak Commercial Realty represented the Landlord – no other brokers involved in this deal.

 


CAPITAL MARKETS

ARIZONA

Phoenix

  • Luke Donahue and John Kinser of NorthMarq’s Phoenix Regional office arranged acquisition financing of $3.5 million for Whispering Palms, a 200-unit market-rate multifamily property at 1401 N. 43rd Ave. Financing was based on a 10-year term and was arranged for the borrower, Whispering Palms Estates LLC, by NorthMarq through its affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS lender.

NEW MEXICO

Albuquerque

  • Metropolitan Capital Advisors arranged construction-to-permanent financing for a freestanding Buffalo Wild Wings on 1.91 acres at West University and Gibson Boulevards. MCA arranged the $2 million loan on behalf of a partnership sponsored by LG Albuquerque BWW LLC. The property is 100% occupied by Buffalo Wild Wings. Todd McNeill, Senior Director at MCA, was responsible for arranging the 10-year, loan with Century Bank of New Mexico.

 


EXECUTIVE MOVES

TEXAS

Dallas

  • Partner Engineering and Science Inc. hired Roy Canino as technical director in the Dallas office. Prior to joining Partner, Canino was the director of facilities services with Gaia Tech Inc. He was also a vice president of building sciences for AEI Consultants, where he developed templates, checklists, standards and processes to complete Property Condition Assessments and helped grow the building sciences program. Canino graduated from the University of Houston with a bachelor’s degree in architecture. He received his AHERA certification from the University of California, Berkeley, where he also taught the first AHERA asbestos training course.

Houston

  • Moody Rambin promoted Walt Cameron to senior property manager of the property management operations. Cameron began his commercial real estate career as an assistant property manager in 2008 and was promoted to Property Manager the same year. In his new job, Cameronwill oversee all properties that are third party managed in the company’s portfolio.