Sunday, August 26, 2012

Real Estate: New York investment group buys 900 DFW units - Fort Worth Star Telegram

Five Tarrant area town-home developments have been bought by a New York-based real estate investment group. Altogether, the deal included seven properties totaling more than 940,000 square feet and 900 units in Dallas-Fort Worth.

In Tarrant County, the properties include the 56-unit Bear Creek Villas, 500 E. Harwood Road in Euless; the 92-unit Heather Glen Townhomes, 2300 Ridge Run Road in Arlington; 168-unit Chisholm Trail Townhomes, 8900 La Palma Drive, in Fort Worth; 144-unit Hunter Circle, 3236 Hunter Park Circle in Fort Worth; and the 148-unit Villas of Lime Tree, 2300 Citrus Lane in Arlington.Dirk Goris and Chris Deuillet with CBRE Dallas represented the sellers, who included Stewart L. Hoffman, an Arlington-based real estate investor, deed records show.Office buildings soldAustin-based Capital Commercial Investments, a real estate investment company, has bought two local office buildings.The company bought the 146,510-square-foot former Sabre Building at 4200 Buckingham Road in CentrePort in east Fort Worth and the six-story National Health Building, a 98,928-square-foot multitenant office building at 1901 N. Texas 360 in Grand Prairie.The sales of the two buildings came within a couple weeks of each other.Terms of the deals were not disclosed.The CentrePort building, built in 1983, was sold by Hometown Commercial 2007-1, deed records show.The National Health Building, built in 1984, was sold by AIC Ventures. Tenants include the Transportation Security Administration, National Health Corp. and FYI Television.Creighton Stark and Ben Lurie with Colliers International North Texas represented AIC Ventures.Capital Commercial Investments said it owns and manages 8 million square feet of office and industrial properties throughout the country.Lincoln Court soldThe Lincoln Court shopping center at Little Road and U.S. 287 in south Arlington has traded hands to a Fort Worth-based investor.The 27-year-old center was sold to Shops at Lincoln Court Llc., headed by Steve Hardee with Health First Medical Group on Boat Club Road in north Fort Worth, according to property records.The sale included 118,559 square feet of space on 15 acres. It was sold by a partnership based in Santa Monica, Calif., that bought the center in 2008. That group also sold the former Loew's theater space and land a couple of years ago to Tulsa-based QuikTrip, which has since built a convenience store and gas station. Loew's closed in 2003.Lincoln Court is anchored by LA Fitness and is home to other small businesses and restaurants, including No Frills Grill & Sports Bar and Corky's Old World Brick Oven Pizzeria.Jennifer Pierson and Beth Pierson with CRBR Dallas represented the seller.Mutual of Omaha BankMutual of Omaha Bank, a subsidiary of Mutual of Omaha insurance and financial services company, has opened its first Fort Worth location at 6300 Ridglea Place.The bank offers full-service banking, commercial banking and mortgage lending.It's the bank's sixth Texas location.Lobby hours are 8:30 a.m. to 5 p.m. Monday through Friday. It also has a 24-hour walk-up automated teller machine.Bruce M. Davis, a 35-year veteran of the banking industry, is president of the Fort Worth location. Jessica Huston has been named community bank manager.Transactions1112 N. Fielder Road, ArlingtonTwo new leases have been signed at Fielder Plaza. Green Oaks Physical Therapy leased 3,820 square feet, and Batteries Plus leased 1,700 square feet. Steve Gray and Gary Shvartsman with the Weitzman Group represented the shopping center. Mark Urbanwicz with Mohr Partners represented the physical therapy practice. 3736 Camp Bowie Blvd., Fort WorthBurleson Land Co. has bought the former Arlington Heights Baptist Church property one block west of Montgomery Street and plans to remodel the 15,000-square-foot building for offices or commercial use. Mark Wood with Howe/Wood Co. represented the seller, Tarrant Baptist Association. 5720 Locke Ave., Fort WorthNikki Greene has leased space from Primary Realty Assets for a dental clinic. Thomas West with Kelly Capital Partners represented the landlord. Travis Wildeman with Medcore Realty represented the tenant.1063 Texan Trail, GrapevineRiver Park Express has leased 6,529 square feet of industrial space from AMB Fund III Green. Erik Blais with Bradford Commercial Real Estate Services represented the tenant. Gil Stroube with Lincoln Property Co. represented the landlord.1209 N. Saginaw Blvd., SaginawDental One Inc. has leased 3,171 square feet for a new location. Conrad McEachern with CBRE Dallas represented the tenant. Daniel Goldware with Weingarten Realty represented the landlord, Weingarten Realty Investors.

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