HOUSTON – (Realty News Report) – CBRE Capital Markets Debt & Structured Finance has arranged $16.1 million in bridge financing for Sugar Land Physicians Center, a 56,063-square-foot medical office building located at 7616 Branford Place in Sugar Land. Dana Summers, Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell and Jim Korinek of CBRE negotiated the loan on behalf of the borrower, American Commercial Contractors, LLC. Money360 provided the three-year loan.
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NAI Partners recently facilitated the sale of a 49,100-square-foot industrial property owned by SES Properties, LP at 10000 West Airport Blvd. in Houston. NAI Partners’ Chris Caudill and Griff Bandy represented the seller. Tiffany Sebastian with RE/MAX Vintage represented the buyer, Classic Chevrolet of Sugar Land.
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CF Investments LLC purchased a 108,740-square-foot property on 10.91 acres at 10966 Grant Road in Houston from WP Norchester, LP. David Luther of NewQuest Properties represented the buyer in the transaction.
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Matthew Franke, Ray Driver and Michael Borden from NorthMarq’s Houston office arranged a $28.5 million refinance for Champions Forest Plaza, a 187,000-square-foot retail center at 5466 FM 1960 West in Houston. NorthMarq secured financing for the borrower, Smithco, through its relationship with OneAmerica. The property was 92% occupied at closing. Anchor tenants include The Container Store, The Gap, Starbucks, Ann Taylor, Jos. A. Bank and Fidelity Investments.
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The Howard Hughes Corporation announced that Mendocino Farms Sandwich Market will soon open on the ground floor of Two Lakes Edge, an eight-story multifamily residence in Hughes Landing, the 79-acre mixed-use development in The Woodlands. The restaurant will occupy 2,838 square feet and include an approximately 900-square-foot patio.
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NAI Partners recently arranged a 6,188-square-foot office lease and expansion for The Lane Law Firm at 6200 Savoy Drive in Houston. NAI Partners’ Jason G. Whittington represented the tenant. Tara Oliver with Oak Leaf Management represented the landlord, GAR Associates XIII, LLC.
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Raising Cane’s purchased a parcel at the intersection of Hwy 59 and West Airport (The Grid) in Stafford from Stafford 59 & Airport, LP. Krystal Mutina of Edge Realty Partners represented the seller, and Jonathan Probst of Retail Connection represented the buyer.
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Doc Perrier and John Buckley with Finial Group secured a lease renewal at 2950 South Gessner Road in Houston. Sapphire Investments, LLC renewed its lease for a 4,040-square-foot space. Derek Leonard with Chodrow Realty Advisors represented the tenant. Finial Group also manages and leases the 2950 South Gessner Road property.
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The Howard Hughes Corporation announced that Novopelle Med Spa has signed a 1,254-square-foot retail lease and will open at 25 Waterway Ave. in The Woodlands. Located in Waterway Square along The Woodlands Waterway, this will be the med spa’s first location in north Houston and its sixth in Texas.
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Elsewhere in Texas
SHB Development, a commercial real estate development, sales and leasing company, and Stream Realty Partners, a national real estate investment, development and services firm, announced that construction at 17230 N. Dallas Parkway will be complete in April. The two-story Class A office building will offer 48,000 square feet of office space with a high-quality amenity package. Rhett Miller and J.J. Leonard of Stream’s Dallas team will lease the property on behalf of SHB Development.
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Lee & Associates – Houston announced an industrial lease with Hotard Coaches, a Louisiana-based charter bus company, for the entire 26,503-square-foot facility at 4600 and 4700 Highway 73 in Port Arthur. Trey Erwin and Justin Cole of Lee & Associates – Houston represented the landlord, Carlisle Port Arthur LP.
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American Structurepoint, Inc. leased 3,085 square feet at 801 Hesters Crossing Road in Round Rock, Texas. Kelly Woodruff with CBRE in Austin represented the tenant. The landlord is M4 La Frontera, LLC.
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Upland Software, Inc. secured a 4,748-square-foot lease at 9211 Waterford Centre Blvd. in Austin as it expands its Austin footprint. John Gump and Caroline King with CBRE in Austin represented the tenant. The landlord is Waterfront IV HP, Ltd.
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Lane Kommer of Henry S. Miller represented Country Bible Church of Kaufman in the sale of 8.5 acres of vacant land on Kelly Boulevard near the President George Bush Turnpike. Randall Chrisman with The Chrisman Company represented the buyer, Harlan Properties, which is preliminarily considering developing townhomes on the site.
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United Investexusa 4, LLC, doing business as New Western Acquisitions, has signed a 2,048-square-foot office lease at 3303 Oakwell Court in San Antonio. Brad DuHamel with Site Selection Group represented the tenant. Travis Wright with CBRE in San Antonio represented the landlord, 3303 Oakwell Court, LLC.
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Steven L. Green & Upwords, Inc. renewed a lease for 1,081 square feet at 17721 Rogers Ranch Parkway in San Antonio. Russell Noll with Transwestern represented the tenant. Travis Wright with CBRE in San Antonio represented the landlord, Commerce NFLP, LLC.
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Genova Health, LLC signed a new office lease for 4,050 square feet at 901 NE Loop 410 in San Antonio as it expands its local presence, relocating from another San Antonio address. Kyle Gunter with CBRE in San Antonio represented the tenant. The landlord is NE Loop 410, LLC.
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Mesa Digital leased 1,463 square feet of retail space at 3801 Berkman Drive in Austin. Morin Scott with TenantBase brokered the deal for the tenant. Nicole Woodworth with CBRE in Austin represented the landlord, DMA Development Company, LLC.
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Residential Briefs
Provident Realty Advisors recently selected CF Real Estate Services to manage Canal 1535. The high-rise celebrated its opening with a ribbon-cutting ceremony at 1535 Canal St. in New Orleans, an event that included participation from the local business community.
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KB Home announced the grand opening of Sky View, a new single-family home community in Converse, near San Antonio, offering a range of affordably priced one- and two-story plans. The community features 13 floor plans with up to five bedrooms and up to three-and-a-half baths. Homes range from approximately 1,200 to 2,700 square feet, with pricing starting in the $180,000s.
March 3, 2020 Realty News Report Copyright 2020
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