Investors bought four more large apartment communities in the Dallas area
ZMR Capital based in Florida purchased two Dallas area apartment properties with nearly 1,000 units. The 440 Pecan Square units at 3535 Webb Chapel and the 308 Bayou Bend apartments at 3353 Lombardy Lane were both built in the 1980s. ZMR plans to begin a full renovation of both properties. The investor now owns approximately 2,500 apartments in Texas.
A merger between Eagle Property Capital Investments and Mexico-based Promecap bought two apartment communities in North Texas. The purchases were the 466 unit Enclave in Prestonwood at 5930 Arapaho Road in far north Dallas and the 492 unit residences in Mesa Ridge at 1051 E. Centerville Road in Garland. The new owners plan to reposition the two rental properties.
Bianco Properties, based in Saint-Louis acquired the North Garland Crossing shopping center on North Garland Avenue and Bush Turnpike. The 75,811 square foot property includes tenants Michaels, PetSmart, AT&T and Starbucks. North Garland Crossing is Bianco’s sixth retail acquisition in the past four years. Bianco’s Texas portfolio includes properties in Arlington, Coppell, Farmers Branch and North Dallas.
Faubion Associés inc. sold a 123,000 square foot industrial building located 2.5 miles from downtown Dallas at 3730 E. Kiest Blvd. The property was once used as a manufacturing and storage facility. Patrick Hunt and Cullen Finnegan of Trinity Southwest Commercial Real Estate negotiated the sale with Phil Rosenfeld of Lee & Associates.
Bolos & Associates and his philanthropic company, Bolos Foundation Ministry, purchased a 37,771 square foot office building and two buildings at 14330 Midway in Farmers Branch. Randy Blankenship of Biel Partners LLC negotiated the sale of the building with David Shutler with Proton Partners LP and Blake LeGrow, Justin Owen and Stephen LaMure of Dominus Commercial Inc. The buyer will move 5,000 square feet to 3200 Earhart Drive in Dallas .
A group of doctors bought a 77,800 square foot office building at 7,000 W. Plano Pkwy. in Plano. The new owners of the Plano Pediatric building plan to modernize and occupy the property. Ron Hebert and Joseph Jaques of Marcus & Millichap negotiated the sale.
A Texan investor bought MacArthur Court One, an 8,700 square foot shopping center in Las Colinas on North MacArthur Boulevard. Hudson Lambert and Adam Gottschalk of Strive Real Estate negotiated the sale.
A Plano-based investor acquired Redbird Oaks, a 39,028 square foot shopping center on approximately 3 acres at 7320 S. Cockrell Hill Road. Weitzman’s Taylor Black, Kevin Butkus and Derek Schuster negotiated the sale.
Aero composites leased 48,920 square foot industrial space at 12880 Valley Branch to Farmers Branch. Nathan Denton and Adam Graham of Lee & Associates Dallas-Fort Worth negotiated the lease with Richard Carlson of Carlson Commercial LLC.
Pure Vida Contracting LLC leased 5,345 square feet of office space at Woodcreek Plaza at 101 W. Renner Road in Richardson. Jared Laake of Bradford Commercial Real Estate Services negotiated the lease with Dan Pond of Holt Lunsford Commercial.
Sander Seamless Systems LLC leased 3,250 square feet of office and industrial space at 1000 Post & Paddock Lane in Grand Prairie. Jason Finch of Bradford Commercial Real Estate Services negotiated the lease with Cody Hodgkiss of Mercer Co.
Scooter cafe leased nearly an acre at 761 East Main Street in Midlothian. Tom Heraty of NAI Robert Lynn negotiated the lease with Warren Smith of Edge Realty Partners.
Real estate publisher Steve Brown is compiling this list.