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
8 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com D A L L A S & F O R T W O R T H YOUR FINANCING NEEDS, OUR FINANCING SOLUTIONS. DEBT BRIDGE CONSTRUCTION MEZZANINE PERMANENT EQUITY JOINT VENTURE PREFERRED ............................................ 713.239.0500 | lmicapital.com ..................................................................... 8117 Preston Road, Suite 300 | Dallas, TX 75225 | 214.706.9322 visit www.disneyig.com WE KNOW SHOPPING CENTERS. OUR TEAM HAS CLOSED OVER IN 2015 OF SALES $140 MILLION TO DIG DEEPER a highly-experienced boutique investment sales firm. DISNEY INVESTMENT GROUP PHILLIPS EDISON GROCERY CENTER REIT II ACQUIRES PLANO MARKET STREET PLANO, TEXAS — Phillips Edi- son Grocery Center REIT II Inc. has acquired Plano Market Street, a 169,624-square-foot grocery-anchored shopping center located in Plano, for an undisclosed amount. Doug Hazel- baker and Ryan Shore of HFF repre- sented the seller, Lionstone Invest- ments, in the transaction. The center is 94.2 percent occupied by tenants including Market Street, Zoë's Kitch- en, World of Beer, Toni & Guy Acad- emy, Café Izmir and Hyena's Comedy Club. Plano Market Street is situated on 17.74-acres at 1901 to 1941 Preston Road. RIDGMAR MALL TO UNDERGO RENOVATIONS, EXPANSION FORT WORTH, TEXAS — GK Devel- opment Inc.'s Ridgmar Mall is set to open fve new stores and complete renovations on existing retail space. Renovations include the expansion of Journeys, a specialty footwear store, to 1,890 square feet with a fresh design and new color palette; the expansion of Zale's to 2,500 square feet with ren- ovations including new fooring and merchandise displays; remodeling at the mall's Buckle location, including a new store front and color scheme; and a renovation of Rave Ridgmar 13 + Xtreme by Cinemark Theaters Inc. to include plush oversized recliners, enhanced concessions and reserved seating. HENRY S. MILLER COS. ARRANGES THREE LEASES DALLAS — Dallas-based Henry S. Miller Cos. has arranged three leases totaling approximately 19,000 square feet in North Texas. Transactions in- clude the lease of 5,738 square feet to KRK Research Group at Arlington Medical Plaza located at 801 Road to Six Flags in Arlington; the lease of 4,453 square feet to Liberty At Home Dialysis at Red Bird Ofce Park locat- ed at 5565 Red Bird in Dallas; and the lease of an 8,790-square-foot medical clinic to GDC Partners at Avalon Town Center in Glandbury. Jim Turano of Henry S. Miller Cos. represented the landlord of Arlington Medical Plaza, Liberty At Home Dialysis and GDC Partners in the three separate transac- tions. John Pelitier and Dave Cochran of E. Smith Realty represented KRK Research Group; Andrew Gilbert of Holt Lunsford represented the land- lord of Red Bird Ofce Park, 5565 Red Bird LP; and Kornel Romada of NAI Robert Lynn represented the landlord of Avalon Town Center, WREE Avalon LLC, in the lease negotiations. GAULT CO., RTG CAPITAL SELL RETAIL DEVELOPMENT PLANO, TEXAS — A partnership controlled by real estate development companies Gault Co. and RTG Capital LLC has sold Willow Bend Crossing to an unnamed Dallas investor. The newly constructed shopping center is located near the southwest cor- ner of the Dallas North Tollway and Park Boulevard in Plano. Shadow-an- chored by Costco and The Home De- pot, the tenant lineup includes Shell Shack, Jersey Mike's, Salata, Wok Box, LA Bikini and Torchy's Tacos. Bryce Gissler and Jason Vitorino of the Mar- cus & Millichap team The Vitorino Group brokered the sale. LEE & ASSOCIATES NEGOTIATES 46,020 SF INDUSTRIAL LEASE ARLINGTON, TEXAS — Lee & Asso- ciates has completed a lease transac- tion for 46,020 square feet of indus- trial space located at 714-720 107th St. in Arlington. Mark Graybill of Lee & Associates' Dallas/Fort Worth ofce represented the landlord, Lightning Propco III LLC. Michael Chiocca of CBRE represented the tenant, Sunrise Wood Designs LLC.