RNR Real Estate Briefs from Realty News Report – HOUSTON – AZ Partsmaster, a supplier of maintenance parts for multifamily operators, has leased 68,342 square feet in Waypoint Business Park I at 411 Cravens Road in Missouri City, Texas. The landlord, 4M Investments and Clarion Partners, was represented by Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream Realty. The tenant was represented by Payson MacWilliam, Jon Lindenberger and Paul Dominique of Colliers.
HOUSTON — Ike’s Love & Sandwiches has leased 1,400 square feet of retail space at The Village, 2518A Rice Blvd., from RPI Management. The landlord was represented by Josh Friedlander and Bob Conwell of NewQuest Properties. The tenant was represented by Lunden McGill and John Frazier of Baker Katz.
HOUSTON — Houston Metropolitan Dance has leased 8,010 square feet at the Museum Plaza Building, 4916 Main St., in the South Main/Medical Center submarket. Kurt Kistler and Kevin Nolan of Moody Rambin represented the building owner, Kozadinos Interests, LTD.
HOUSTON — Avison Young has negotiated the sale of 10.62 acres at 11514 Trickey Road in Houston. The majority of the property will be developed into a 44-home single-family, for-rent community. Tommy LeBlanc and John-Michael Kamel of Avison Young’s Houston office represented the seller, Alpha Neutronic.
BAYTOWN — Eggcellence Café has leased 2,335 square feet in the Baytown Marketplace Shopping Center and will open its ninth Houston-area location in early 2021. The tenant was represented by Katherine Wildman of Wulfe & Co.
SPRING — George Montes of Cypressbrook Company represented the tenant, ABG Resources, Inc., doing business as Mycot Style, in leasing 6,442 square feet of office/warehouse space at 25275 Budde Road in Spring. Michael Blount of Panoptic Realty Group represented the landlord, Lone Star C & L Investments, LLC.
HOUSTON — IronRod Steel, LLC leased 9,500 square feet at 8122 Hillsboro St. in East Houston. Lawton Anderson of Moody Rambin represented the tenant. Clay Pritchett and Zane Carman of NAI Partners represented the building owner.
THE HEIGHTS — Transwestern announced that Al Quick Stop has signed a 700-square-foot lease on West 11th Street in The Heights for its second location. Transwestern’s Paula Musa represented the eatery, which opened its first location in Montrose in 1991. The landlord, RE: VIVE, was represented by Monica Danna of RE: VIVE Development.
HOUSTON — SquareFoot, a commercial real estate company, has expanded into the Houston market with the hiring of veteran broker Sam Pouns. Since its founding a decade ago, SquareFoot has served clients in dozens of U.S. cities from its New York City headquarters. Pouns joins from the Fritsche Anderson company.
HOUSTON — SCOR Reinsurance Company leased 5,805 square feet at Town Centre One, 750 Town & Country Blvd. in West Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner. David Husid and Merrill Roth of Newmark Knight Frank represented SCOR. Additionally, USP Houston leased 4,049 square feet at Town Centre One; Nelson Udstuen of CBRE represented USP Houston.
THE WOODLANDS — Greg Usher of Cypressbrook Company represented the landlord, Vista Woodlands Partners, LTD, in leasing 4,933 square feet of flex-office space at 8701 New Trails. George Montes of Cypressbrook represented the tenant, Hopkins Centrich Winkelman & Drucker.
PEARLAND — Corbet K. Eillson, DDS, has leased 4,187 square feet at the Shadow Creek Business Center I, 11233 Shadow Creek Parkway near Highway 288. Kurt Kistler and Kevin Nolan of Moody Rambin represented the building owner, ZT Shadow Creek Partners. The tenant was represented by Sewell Legal Practice, PC.
CONROE — Kimberly DeVos of Cypressbrook Company acted as intermediary between the tenant, Farmers Insurance, and the landlord, Teas Capital Partners, LLC, in the leasing of 3,000 square feet of office space at 2912 W. Davis in Conroe.
HOUSTON — Rice Village announced the addition of The Lovesac Company, a home furnishings brand known for its Sactionals modular sofas. The new showroom will be at 2510 University Blvd. Burdette Huffman of The Blue Ox Group represented Rice Village.
KATY — Scholars and Scoundrels has leased 6,200 square feet of retail space in Boardwalk Crossing at Kingsland Boulevard and AMC Drive from Boardwalk Crossing, LLC. Bob Conwell of NewQuest Properties represented the landlord. Jeff Goldberg of Gold Key Partners represented the tenant.
THE WOODLANDS — Patricia Chesser of Cypressbrook Company represented the landlord, Woodmark Capital, LP, in leasing office space at 1776 Woodstead Court. Nick Terry of Rifle Real Estate Company represented the tenant, AJW Capital, Inc.
HOUSTON — McGowen Investments, LLC has sold a 0.78-acre ground lease that includes a 3,164-square-foot Wendy’s at 13334 Tomball Parkway to Fulu, LLC. Chris Dray, David Luther and Rick Ragan of NewQuest Properties represented the seller. Gloria Chiu of The Real Estate Experts represented the buyer.
DICKINSON — JC Educational Services leased retail space in Dickinson Village, 3410 Gulf Freeway, from Revesco (USA) Properties of Dickinson, LLC. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord. Lyle Cowand of Resolut RE represented the tenant.
HOUSTON — Chase Tucker and John Buckley of Finial Group arranged an office lease at 2401 Fountain View Drive for Cook Law Firm Group.
TEXAS – RNR Real Estate Briefs
DALLAS — Harwood International has broken ground on a 27-story, 360,000-square-foot office tower on Harry Hines Blvd., according to the Dallas Morning News. The Haynes & Boone law firm has leased 125,000 square feet in the building.
DALLAS — CBRE announced that Sunrise Wood Designs, LLC, a fine cabinetry supplier for luxury and volume homebuilders in North Texas, has expanded its South Dallas facility to 167,405 square feet at 8801 Autobahn Drive to accommodate rapid business growth. Baron Aldrine and Michael Chiocca of CBRE represented the company in lease negotiations.
AUSTIN — A joint venture of Intracorp and Resmark Cos. will develop One Oak, a 106-unit mixed-use condominium project in the Bouldin Creek neighborhood on South First Street. The site was acquired from Rastegar Property Co., which will retain an ownership interest.
SAN ANTONIO — Berkadia arranged the sale of Echelon at Monterrey Vista, a 240-unit multifamily community in San Antonio. Managing Director Mike Miller, Senior Director Will Caruth and Director Cody Courtney of Berkadia’s San Antonio office secured the sale on behalf of the seller, The Garrett Companies.
IRVING — Newmark arranged financing for Marbletree Apartments, a 416-unit project at 4057 North Belt Line Road that is 98% occupied. Newmark’s Jakob Andersen and Brian O’Boyle, Jr. represented the seller, LumaCorp, Inc. The buyer is GoodLife Housing Partners. Financing was provided by Ready Capital and placed by Newmark’s Deverick Jordan and William Hairston.
ARLINGTON — SkyWalker Property Partners, acting on behalf of one of its funds, sold a dormant property in the Arlington Entertainment District to the city for a police substation, evidence storage and crime lab facility. The 41,680-square-foot structure sits on five acres at 1715 E. Lamar Blvd. SkyWalker acquired the vacant project seven years ago from a Dubai investor.
DALLAS — Bobby Wayne Doyal of Burnet, Texas, sold a 1.2-acre site at 2630 North I-35E to Virani Service Group, LLC. Jason Finch and Brian Pafford of Dallas-based Bradford Commercial Real Estate Services represented the seller.
NATIONAL – RNR Real Estate Briefs
LAKE WORTH BEACH, Fla. — Alliance 7233 Seacrest, LLC acquired the former Sam’s Club in Lake Worth Beach for $17 million. The buyer is an affiliate of Pennsylvania-based Alliance Partners. HSP Bruner Group of Delray Beach arranged the sale of the 135,268-square-foot warehouse on 15.8 acres at 7233 Seacrest Blvd.
TAMPA, Fla. — Caleb Walsh announced a contract to purchase St. Moritz, a collection of two-bedroom townhomes near the coast in the Tampa region. Walsh is director of the Urban Bay Housing Fund.
LAS VEGAS — Las Vegas Sands Corp. agreed to sell The Venetian Resort Las Vegas and the Sands Expo and Convention Center for a combined purchase price of $6.25 billion. Affiliates of Apollo Global Management will acquire the operating assets and assume certain liabilities, with approximately $1.05 billion in cash and $1.2 billion in seller financing. VICI Properties will acquire the real estate assets of The Venetian for $4 billion.
PHOENIX — JLL Income Property Trust acquired the Southeast Phoenix Distribution Center, a newly constructed, four-building Class A facility totaling 474,000 square feet in the Chandler submarket of Phoenix, for $91 million.
BATON ROUGE — Transwestern Real Estate Services is expanding in Louisiana with a new office in Baton Rouge led by Managing Director Branon Pesnell. Transwestern first expanded into Louisiana in 1998 with its New Orleans office, led by Senior Vice President Bryan Burns.
March 6, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: Rendering: Intracorp’s One Oak project in Austin. Land assemblage by Rastegar Property Company, which will retain an investment in the project. Architecture by Pappageorge Haymes Partners. Courtesy Intracorp