HOUSTON – (Realty News Report) – Walker Barnett and Ryan Byrd of Colliers International are handling leasing for the new Telge 290 Logistics Center. The 207,635-square-foot facility at 14803 Cypress North Houston Road was developed in northwest Houston by Archway Properties and Ridgeline Property Group. Powers Brown served as architect and E.E. Reed was the general contractor.
CBRE announced the sale of a 170,476-square-foot distribution center located at 730 Genoa Red Bluff Road in Houston. Nathan Wynne and Cape Bell of CBRE represented the seller, Vigavi SEDC, LLC. The buyer, Hallmark Floors, was represented by David Buescher and Louis Tomaselli of JLL.
NAI Partners arranged an 8,593-square-foot office lease renewal for Reveal Energy Services at 1500 CityWest Blvd. in Houston. NAI Partners’ Jason Whittington represented the tenant, while Scott Fikes of JLL represented the landlord, Bridge Commercial Real Estate.
Matthew Bronstein, vice president of NorthMarq’s Houston office, secured refinancing for the 3322 Richmond office building. The 18,000-square-foot property is located in the Greenway Plaza submarket of Houston. NorthMarq arranged financing for borrower M-K-L Properties through its correspondent relationship with a life insurance company. Dan Lavin is president of M-K-L.
Spectrum Lash leased retail space at 5201 Highway 6 in Missouri City. Laura Diggs of NAI Partners represented the landlord.
Texas
CBRE announced that Freight Dispatch Service Agency, Ltd. signed a full-building lease at the I-35 Logistics Center, a 131,718-square-foot speculative industrial development in Laredo, Texas. This lease brought the development to full occupancy. Groundbreaking took place in August 2019, and the facility was completed in April 2020. Freight Dispatch Service Agency moved in on June 1. Joshua Aguilar with CBRE in San Antonio represented the landlord/owner, Tailwind Real Estate Equities, and the developer, Gulf Corporation. Joey Ferguson with NAI Swisher and Martin Realty represented the tenant.
CARROLLTON – Teso Life, a sought-after Japanese lifestyle retail brand, will open its first storefront outside New York in NewQuest Properties’ Carrollton Town Center in North Dallas. Teso Life signed a long-term lease for 14,236 square feet of Class A retail space in the 154,835-square-foot center. Heather Nguyen of NewQuest negotiated the lease.
Newmark Knight Frank (NKF) and E. Smith Advisors (ESA) announced that Istation has renewed its lease for its 50,000-square-foot headquarters at the landmark high-rise Campbell Centre in Dallas. Emmitt Smith of ESA helped facilitate the relationship between NKF and Istation. NKF’s John Wolf and Sara Fredericks represented Istation in the renewal. The building is owned by Haberman & Haberman.
Armbrust American signed a lease for 15,320 square feet of office space at 3813 Helios Way in Pflugerville, Texas. Nate Stricklen with CBRE in Austin represented Armbrust American, while Andrew Creixell with CSA Management represented the landlord, Pecan 130, LLC.
Newmark Knight Frank announced the sale of The Element at University Park, a 312-bed student housing community built in two phases in 2000 and 2008. Located in Bryan, Texas near Texas A&M University, the community was 97% occupied and 85% pre-leased for the fall 2020 semester at the time of sale.
Hentana Construction signed a lease for 5,394 square feet of industrial space at 11222 Disco in San Antonio. Justin Roberts with CBRE in San Antonio represented the landlord, BYCO, Inc.
Cityscape Studios is now leasing office suites designed for companies seeking to downsize, employees needing work-from-home alternatives, or businesses looking for an inspiring new workspace. Located near downtown Fort Worth—close to courthouses, government offices, Sundance Square and the central business district—these newly constructed suites from Charter Investments offer contemporary finishes and shared amenities such as kitchens and breakrooms, with ample parking and optional single-car garages for additional parking or storage.
Marcus & Millichap announced the sale of Angel’s Attic, a 38,685-square-foot self-storage facility in San Antonio. Casey Kral and Dave Knobler from Marcus & Millichap’s Houston office had the exclusive listing to market the property for the seller, a private investor who self-managed the asset and was transitioning to semi-retirement.
Max’s Wine Dive renewed its 3,063-square-foot lease at Quarry Village, located at 340 E. Basse Road in San Antonio. Price Onken with CBRE in San Antonio represented the landlord, Us Reif Artessa San Antonio Texas, LLC.
Three tenants renewed leases totaling 36,444 square feet in the Class-A Two American Center at 821 E. Southeast Loop 323 in Tyler, Texas. Younger Partners’ Greg Hoffman, in partnership with Patterson Commercial Property Group, represented the landlord in all three transactions. The building owner is one of Hoffman’s long-term clients. Lease renewals include New York Life Insurance Company and Healthfirst TPA, while Tanos Exploration expanded its space, becoming the building’s largest tenant. The 94,017-square-foot center is now 98.4% leased.
Equity Industrial Partners and Raith Capital Partners have broken ground on a new 123,966-square-foot Class A industrial facility at 9541 Joe Rodriguez Drive in El Paso. Loya Wilke Architects is the designer and Jacob CM is the contractor, both locally based in El Paso. Arturo de la Mora and Andrés Sandoval with CBRE in El Paso are representing Equity Industrial Partners and Raith Capital Partners in the marketing and leasing of the development.
National
Simon Property Group, Inc., the national shopping center operator, announced that it has exercised its contractual rights to terminate its February 9, 2020 merger agreement with Taubman Centers, Inc. Simon also filed an action in the Circuit Court in Oakland County, Michigan, seeking a declaration that Taubman experienced a material adverse event under the merger agreement and breached covenants governing Taubman’s business operations.
Marcus & Millichap announced the sale of Beneva Oaks, a 40-unit apartment property in Sarasota, Florida, for $3.1 million.
Dot’s Pretzels, LLC selected Logistics Park Kansas City in Edgerton, Kansas, for its new manufacturing facility. The snack brand plans to begin operations later this year to increase production capacity and meet rising national demand. Dot’s purchased the 186,107-square-foot building at 32180 W. 191st St. in a transaction with Copaken-Brooks. The new facility will be the company’s largest manufacturing site. Dot’s is investing $15 million and creating 22 new jobs.
LaTerra Development, a Los Angeles-based developer of urban infill mixed-use properties, formed a joint venture with QuadReal Property Group to invest up to $250 million in equity to develop and operate multifamily communities in Southern California.
Mohr Capital, a Dallas-based real estate investment firm, broke ground on a 1 million-square-foot warehouse and distribution facility for Cooper Tires in Whiteland, Indiana, within the Indianapolis metro area.
June 13, 2020 Realty News Report Copyright 2020