Investors have purchased four more large Dallas-area apartment communities

sales

Florida-based ZMR Capital bought two apartment properties in the Dallas area with nearly 1,000 units. Pecan Square with 440 units at Webb Chapel 3535 and Bayou Bend Apartments with 308 units at 3353 Lombardy Lane were both built in the 1980s. ZMR plans to start a comprehensive renovation of both properties. The investor now owns around 2,500 apartments in Texas.

A joint venture between Eagle Property Capital Investments and Promecap, Mexico, bought two residential 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 both rental properties.

St. Louis-based Bianco Properties 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 marks 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 Associates Inc. sold a 123,000 square foot industrial building at 3730 E. Kiest Blvd, 4 km from downtown Dallas. The property was previously used as a production and storage facility. Patrick Hunt and Cullen Finnegan of Trinity Southwest Commercial Real Estate brokered the sale with Phil Rosenfeld of Lee & Associates.

Bolos & Associates and its philanthropic company, Bolos Foundation Ministry, purchased a 37,771 square foot office building with two buildings at 14330 Midway in Farmers Branch. Randy Blankenship of Biel Partners LLC brokered the property sale with David Shutler of Proton Partners LP and Blake LeGrow, Justin Owen and Stephen LaMure of Dominus Commercial Inc. The buyer will move 5,000 square feet at 3200 Earhart Drive in Dallas.

A group of doctors bought a 77,800 square foot office building at 7000 W. Plano Pkwy. in plano. The new owners of the Plano Pediatrics building plan to upgrade and move into the property. Ron Hebert and Joseph Jaques from Marcus & Millichap brokered the sale.

A Texas investor bought MacArthur Court One, an 8,700 square foot mall in Las Colinas on North MacArthur Boulevard. Hudson Lambert and Adam Gottschalk from Strive Real Estate brokered the sale.

A Plano-based investor acquired Redbird Oaks, a 39,028 square foot retail center on approximately 3 acres at 7320 S. Cockrell Hill Road. Weitzman’s Taylor Black, Kevin Butkus and Derek Schuster brokered the sale.

Rental agreements

Aero Composites rented 48,920 square feet of industrial space in 12880 Valley Branch in 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 has rented 5,345 square feet of office space in Woodcreek Plaza at 101 W. Renner Road, Richardson. Jared Laake of Bradford Commercial Real Estate Services negotiated the lease with Dan Pond of Holt Lunsford Commercial.

Sander Seamless Systems LLC rented 3,250 square meters of office and industrial space in 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’s Coffee 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 editor Steve Brown compiled this list.

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