Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/591312
12 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com D A L L A S & F O R T W O R T H M&M; ARRANGES SALE OF HOSPITALITY PROPERTY PALESTINE, TEXAS — Marcus & Millichap has arranged the sale of La Quinta Inn & Suites Palestine, a 60- room hospitality property located in Palestine. Chris Gomes and Skyler Cooper of Marcus & Millichap's Dal- las ofce, along with Allan Miller of the frm's San Antonio ofce, market- ed the property on behalf of the seller, a private investor. Gomes, Cooper and Miller also procured the buyer, a pri- vate investor. La Quinta Inn & Suites Palestine is located at 3000 South Loop 256, just west of Palestine Regional Medical Center. The property is a 60- room, interior corridor, midscale hotel situated on approximately three acres. The three-story hotel was built in 2007 with a wood frame and stucco exteri- or. The property features a ftness cen- ter, a 324-square-foot meeting room, outdoor pool with spa and breakfast/ dining area. Guest rooms ofer ameni- ties such as a pillow top bed, micro- wave, refrigerator and work desk. HENRY S. MILLER ARRANGES SALE OF TWO PROPERTIES IRVING AND FORT WORTH — Bill Bledsoe of Henry S. Miller has ar- ranged two property sales in metro Dallas. Bledsoe brokered the sale of a 0.77-acre ofce pad site at 727 W. Airport Freeway in Irving. The property housed a 3,939-square-foot building and features freeway front- age. Hangrove Interests purchased the property from VTC Westway In- vestments and will refurbish the of- fce building for a long-term tenant. Bledsoe also represented the seller in the disposition of a 10-acre site in Fort Worth. The buyer may develop the property, located at 8421 Mead- owbrook Drive, into residential space. Ernest Jakes of Jakes Realty Group represented the buyer in this transac- tion. NEW RETAILER SIGNS ON AT MIXED-USE DEVELOPMENT DALLAS — Café Victoria will join a 75-acre mixed-use development in downtown Dallas as its frst cofee shop. Owned and operated by Victory Park resident Luciana Gómez, Café Victoria will serve cofee and pas- tries. The shop is scheduled to open in January 2016 and will be located on Victory Park Lane next to Buda Juice. Victory Park features more than 165,000 square feet of retail, restau- rant and entertainment space, includ- ing Buda Juice, Chad Rookstool Salon, Classic Pilates, Cook Hall, Hard Rock Café, The Hangar, Havana Social Club, House of Blues, Jimmy John's, Kenichi, Medina Oven & Bar and Metro Tickets. NORMAN CONSTRUCTION TO RELOCATE HEADQUARTERS TO GRAPEVINE GRAPEVINE, TEXAS — Realty Capital Management has sold a pad site located of Texan Trail to Norman Construc- tion. The construction frm will relocate its corporate of- fces from Coppell to a new location just north of Dallas Road on Texan Trail in Grapevine. Norman Construction has been in business since 1997 and is a full-service com- mercial contracting company specializing in multifamily rehab and construction. In addition, Norman ofers capi- tal improvements, fre remediation services and deferred maintenance needs. Mark Boone of Realty Capital Man- agement represented the landlord and tenant in the lease transaction. TRADITION-LOVERS LANE SENIORS HOUSING OPENS IN DALLAS DALLAS — Tradition Senior Living (TSL) has opened The Tradition-Lovers Lane Community, including indepen- dent living, assisted living and memory care, at 5850 E. Lovers Lane in Dallas. The complex is a rental community with no buy-in fee. The 7.5-acre campus includes the 202- unit independent living building and the 109-unit assisted living and memory care property fronting Milton Street. Jonathan Perlman is founder and CEO of Tradition Senior Living, which is developing, marketing and managing the project. The community will include a physical and occu- pational therapy center, nursing and medication manage- ment. 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