March 09, 2010
BEST BUY DISTRIBUTION CENTER FETCHES AN ESTIMATED $7 MILLION
A Best Buy Distribution Center has sold in Ardmore, Okla. ARDMORE, OKLA. — Ardmore Business Park LLC has sold a 441,664-square-foot Best Buy Distribution center in Ardmore to Flanders Precisionaire for an estimated $7 million. The property was constructed in 1991. Best Buy vacated the facility to move into a new warehouse elsewhere in the city. Lee & Associates' Reid Bassinger and Trey Fricke represented the seller.
FIRM PURCHASES LAND IN THE WOODLANDS FOR RETAIL DEVELOPMENT
THE WOODLANDS, TEXAS — Dhukani Properties has purchased 2.5 acres of land from The Woodlands Development Co. for a future retail center. No development schedule has been set for the land, which is located at the intersection of Harper's Landing Boulevard and South Trade Center Parkway. The center will feature a convenience store and gas station. Colliers International's Todd Edmonds and Cody Christoph represented the seller in the transaction.
APARTMENT COMPLEX SOLD IN HOUSTON
HOUSTON — Byron Plant - Asset Plus has sold the 282-unit Timber Hollow Apartments to Ascension Cook Road for an undisclosed amount. The buyer plans to spend $2 million in upgrades on the property, which is located at 8000 Cook Road in Houston. Timber Hollow was sold out of receivership and is currently 82 percent occupied. Jim Hearn, Tom Warren, Tom Burns and Jay Gunn of Hendricks & Partners brokered the sale.
FOUR TENANTS SET TO OPEN IN HOUSTON MIXED-USE DEVELOPMENT
HOUSTON — Midway Cos. is adding four new tenants this spring to its $500 million CITYCENTRE development in Houston. LMD Botique will open this month, and a BRIO Tuscan Grille location is slated to open in April. In May, Midway will welcome Cyclone Anaya's Mexican Kitchen, and Ruggles Green in set for a June opening. Plans are in the works for 2010 openings of Sur La Table and Republic of Couture. CITYCENTRE, a 37-acre mixed-use project, includes 1.8 million square feet of retail and office space, 700 multifamily units and a 244-room hotel.