Thursday, February 20, 2014
ElmTree Net Lease Fund II bought two Dallas industrial buildings for $26M including a 151k SF facility at 2717 S. Main St (occupied by Sikorsky Aircraft) within the DFW Airport. The second property is a 72k SF property leased to Hitachi High Technologies America. The facility is on a 4.24-acre site leased from the Dallas-Fort Worth Airport Authority.
The 300-unit Sheridan Park at Spring Creek in Plano was acquired at an undisclosed price through Waterton Associates’ value-add multifamily fund. The ARA Dallas team of Brian O’Boyle, Sr., Brian Murphy, and Brian O’Boyle, Jr. repped the seller.
ALDI Food Market purchased a 2.3-acre tract at the southwest corner of Plaza Drive and Hwy 377 in Granbury from MMSD Corp. The site will hold a new store to open later this year. UCR Dallas’ Stan Lotridge represented ALDI. Conifer Real Estate’s Martin Schelling repped the seller.
Modjarrad & Abusaad Law Firm purchased an 11k SF office building at 212 W Spring Valley Rd in Richardson from Medwed Properties. Hudson Peters Commercial’s Janice Peters and Michelle Hudson repped the seller. NAI Robert Lynn’s Kent Smith repped the buyer.
***An out-of-state buyer purchased the 120-unit Meadows multifamily property at 1500 Blue Grove in Lancaster from CJ Meadows Properties. Marcus & Millichap VP Al Silva repped both buyer and seller. Capital Corp placed a new seven year Fannie Mae acquisition loan on the property for the buyer. The property was 95% occupied at closing.