Developers Michael Wells and Lee Hughes have bought 120 acres on Farm Road 5 across from the Moncrief Quarter Horse Ranch in Aledo for a subdivision called Sanctuary Oaks.
In all, 50 2-acre lots have been pre-sold to Our Country Homes, John Houston Homes and Maverick Homes.
“This community will fill a void in the Parker County market,” said Hughes, a managing partner with Maverick Homes.
The homebuilders expect prices to start around $380,000. Lots will be ready for building in June. The development is financed by Ciera Bank in Aledo.
Canales Furniture to turn Macy’s space into a store
Canales Real Estate, which recently bought the former Macy’s space at the old Six Flags Mall in Arlington, will use the 187,000-square-foot space for a store and showroom, according to Rafael Canales.
The store will offer furniture, electronics, appliances and children’s toys, and will introduce a line called Canales Furniture KID’S!
“We will have a cafeteria area. In addition, we will have day care for the convenience of our customers,” Canales said. “We will offer our customers with the ideal space to design, imagine and buy.”
Canales’ store on Randol Mill Road in Arlington will become a distribution center. The retailer operates nine Dallas-Fort Worth stores.
Fort Worth firm buys Houston office building
Fort Worth-based Mallick Group and Keating Investments have bought Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district.
The property was sold by Daymark Realty Advisors. The price was not disclosed. HFF represented the seller.
The two-story building was completed in 2008 and is 100 percent occupied by the global engineering firm CB&I Inc.
Mallick Group is a real estate and energy-related investment firm headed by Michael Mallick. Keating Investments is in Oklahoma City.
2201 N. Collins St., Arlington
Argenta Field Solutions has leased 1,026 square feet of office space in the Landmark Tower from Collins St. Properties. Erik Blais of Bradford Commercial Real Estate Services represented the landlord.
209 Billings St., Arlington
Spectrum Diagnostics has leased 7,215 square feet of office space in Arlington Oaks from One Oak Over The Line. Judy Nitzinger of Coldwell Banker Commercial DFW represented the landlord.
1220 Corporate Drive W., Arlington
Recruit Combine has leased 5,397 square feet of industrial space in Oakhollow Business Park from Oak Hollow Partners. Judy Nitzinger of Coldwell Banker Commercial DFW represented the tenant. David Dunn of Sperry Van Ness/Dunn Commercial represented the landlord.
500 Railhead Blvd., Fort Worth
Jones-Blair Co. has leased 9,625 square feet of warehouse space in the Railhead Business Station from Sun Life Assurance Co. Nick Talley of Bradford Commercial Real Estate Services represented the landlord. Bob Lazenby of Legacy Realty Group represented the tenant.
3501 Texas 157, Fort Worth
Grubbs Infiniti Ltd. has leased 6,400 square feet of warehouse space from DC 157 LLC/Dodson Management. Erik E. Blais of Bradford Commercial Real Estate Services represented the landlord. Bill Bledsoe of Henry S. Miller Brokerage represented the tenant.