HOUSTON – (Realty News Report) – HCA Houston Healthcare recently broke ground on the HCA Healthcare Center for Clinical Advancement, a modern, state-of-the-art training facility. NAI Partners’ Griff Bandy and Joe Bright represented HCA in the long-term, build-to-suit lease for the 48,400-square-foot building at Pearland Town Center, 11200 Broadway St. The center is scheduled to open in early 2021.
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Southfork Centre Partners, Ltd. sold a newly developed shopping center at 3422 Business Center Drive in Pearland, adjacent to the new Costco, to Kamco Holdings. The property encompasses 17,653 square feet on 2.04 acres. Matthew Berry and Robbie Kilcrease of CBRE Houston represented the seller.
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Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston brokered the sale of 11 acres at 15542 Mound Road in Hockley, Texas.
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2ML Real Estate Interests, Inc. completed the retail sale of a 79,366-square-foot property on 1.82 acres at 5600 Mykawa Road in Houston to Urban Meridian Group, Inc. Matthew Berry and Robbie Kilcrease with CBRE Houston represented the seller.
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Lee & Associates – Houston represented Brittmoore Investments, LLC in leasing 30,116 square feet of industrial space at 4541 Brittmoore Road in Houston. Preston Yaggi, Clint Hankla and Justin Cole of Lee & Associates represented the landlord.
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EXP has relocated its Houston office to the Energy Corridor to better serve clients in energy and industrial markets. The firm provides engineering and consulting services for gas processing facilities, chemical plants, acid refining operations and renewable facilities. EXP moved into a new 27,905-square-foot office at 11330 Clay Road. EXP was represented in the transaction by Eugene Terry of JLL.
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A private buyer purchased a newly developed Kroger shadow-anchored strip center from CC Tuckerton Retail, LP. The property at 18121 Tuckerton Road in Cypress, Texas, totals 16,493 square feet on 1.84 acres. Matthew Berry and Robbie Kilcrease with CBRE Houston represented the seller.
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The Howard Hughes Corp. announced that Baja Sur Fresh‑Mex and Tequila Bar will open its first United States location this summer. The restaurant selected Creekside Park West, in Creekside Park Village Center in The Woodlands, for its debut. Baja Sur Fresh‑Mex and Tequila Bar offers a modern take on Tex‑Mex cuisine.
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WD GM Retail, LLC sold 3.08 acres at SH 99 and Morton Ranch Road in Katy to Patton Properties. Darin Gosda, Darbe Gosda and Jazz Hamilton of CBRE Houston represented the seller.
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Stuebner 99 Retail LP purchased 2.14 acres at Texas 99 and Spring Stuebner Road in Spring, Texas, from Five Forks Village, LLC. Neal Thomson and Brad LyBrand of NewQuest Properties represented the buyer. Mark Terpstra of Caldwell Companies represented the seller.
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Lee & Associates – Houston represented Lee Road Investments, LLC in the sale of a 24,750-square-foot industrial property at 16820 Lee Road in Humble, Texas. Mike Spears and Thomas Leger of Lee & Associates represented the seller. The buyer was THP Lee, LLC.
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Midland Industries leased 35,560 square feet at 5544 Armour Drive in the Houston Harbor subdivision. Zack Taylor, Doyle Toups and Tommy Erwin of Moody Rambin represented the building owner. Will Condrey of Cresa represented Midland Industries in the transaction.
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Lee & Associates – Houston represented Odyssey 2020 Academy Inc. in leasing a 50,000-square-foot space at 10000 Emmett F. Lowry Expressway in Texas City. Frank Blackwood and John Gazzola of Lee & Associates represented the tenant.
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Johnson Space Center Federal Credit Union sold 2121 Market St., a 16,810-square-foot banking and office facility in Galveston, to Dualmont, LLC, a company focused on renovating investment properties. Bob Gulley of Moody Rambin represented the seller. Kelli McClure of Berkshire Hathaway represented the buyer.
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G&H Diversified leased 12,000 square feet at 5874 Cunningham Road in Houston. Jim Autenreith and Chris Ochterbeck of Moody Rambin represented the owner in the negotiations.
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Pacific Plast, Inc. leased 10,724 square feet at 10641 Haddington Drive in Houston. Jim Autenreith and Sam Rayburn of Moody Rambin represented the owner during the transaction.
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Texas Real Estate Briefs
CBRE reports that Ascendant Commercial, a Dallas-based investment, development and consulting firm, purchased 46.25 acres of undeveloped land at I-35 and Highway 1187 in Fort Worth for industrial development. This parcel represents the first phase of an approximately 130-acre, multi-phase industrial park planned to deliver an estimated 2.2 million square feet of institutional-grade logistics and distribution space. Ascendant expects to begin construction on its first speculative industrial warehouse this summer. The initial distribution center is planned to be about 850,000 square feet, which would be the largest spec development in South Fort Worth. Completion is targeted for May 2021.
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CBRE also announced the sale of the IDI Logistics and Hanson industrial portfolios to a joint venture between Equity Industrial Partners and Raith Capital Partners. The IDI portfolio includes 17 buildings in El Paso and three in Santa Teresa, N.M., totaling approximately 1,715,000 square feet of industrial space. The Hanson portfolio includes two industrial buildings totaling 213,370 square feet plus 35 acres of industrial land. CBRE teams in El Paso led the transaction on behalf of the sellers, marking Equity Industrial Partners and Raith Capital Partners’ initial entry into the El Paso market.
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JLL Capital Markets closed the sale of Galleria Office Towers, three Class A office buildings totaling about 1.4 million square feet at the Dallas North Tollway and LBJ Freeway (Interstate 635) in Dallas. The Galleria development includes mixed-use connections to the 1.5 million-square-foot Galleria Dallas Mall and a 448-room Westin Hotel. Piedmont Office Realty Trust, Inc. purchased the asset, with JLL representing the seller.
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EVO Entertainment Group announced construction of its seventh entertainment venue, EVO San Antonio. Planned as EVO’s largest location to date, the 80,000-square-foot facility will be built at the intersection of Highway 151 and Military Drive as part of the Escala development. Construction was scheduled to begin in March 2020, with completion expected by January 2021. Leasing for the Escala project is handled by Zach Parra and Bethany Babcock of Foresite Commercial Real Estate.
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JLL Capital Markets arranged refinancing for Central Park Apartments, a 144-unit garden-style community in North Dallas’ Vickery Meadow neighborhood. JLL secured a 10-year, fixed-rate Freddie Mac loan on behalf of the borrower, Frontline Holdings. The debt placement team was led by Mark Brandenburg and Chad Russell.
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Henry S. Miller’s Stephen A. Scott negotiated a $4.44 million construction loan for the 16,000-square-foot Phase 2 expansion of the Shops of Hudson Oaks at 2950 Highway 180 in Hudson Oaks, Texas. The center is 85 percent pre-leased with tenants including Orangetheory, Nothing Bundt Cakes and R & K Cafe.
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Bellomy & Co. announced the sale of Academy Mini Storage in Little River-Academy, Texas, located in the Killeen–Temple–Fort Hood MSA. The 2003-built facility contains 208 units within 27,000 square feet and sits on a site with nine acres of expansion potential. The property was 68 percent occupied at closing. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Grossman Family Trust, the seller.
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Stream Realty Partners reported six recent transactions:
1 — Elliott Electric Supply leased 20,207 square feet at Jupiter/190 Business Park, 2700 Summit Ave., Plano. Ryan Wolcott and James Mantzuranis of Stream represented the landlord, Link Industrial. Nick Lee of NAI Robert Lynn represented the tenant.
2 — Sedgwick leased 29,237 square feet at 10th Street Business Park, 1800 10th St., Plano. Ryan Wolcott, James Mantzuranis and Matthew Dornak of Stream represented the landlord, Link Industrial. Brian Gilchrist of CBRE represented the tenant.
3 — Drucker Labs leased 8,353 square feet at Palisades Industrial Park, 1600 Capital, Plano. Ryan Wolcott, Matt Dornak and James Mantzuranis of Stream represented the landlord, Link Industrial. Henry Knapek of Transwestern represented the tenant.
4 — Fort Worth Star‑Telegram leased 22,000 square feet at 6314 Airport Fwy in Fort Worth. Forrest Cook of Stream represented the tenant; Leland Prowse and Gibson Duwe of Transwestern represented the landlord, Barnard Partners.
5 — Lionhead investors purchased a 5,000-square-foot retail property at 2804 NE 28th St. in Fort Worth. Forrest Cook of Stream represented the buyer. Todd Hawpe and Ben McBroom of Transwestern represented the seller, Western Capital.
6 — PGS 360 leased 26,000 square feet at Parc North in Fort Worth. Seth Koschak, Forrest Cook and Brett Carlton of Stream represented the landlord, EastGroup Properties. Liam Logan of Colliers represented the tenant.
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Carter & Co. leased 7,205 square feet of office space in Highland Park West at 4300 MacArthur Ave., Dallas, from 4300 MacArthur Partners LP. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. represented the tenant.
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Central Texas Real Estate Leases
54th Street Restaurant & Drafthouse ground-leased a 1.83-acre pad site in Stone Hill Town Center at TX 130 and TX 45 in Pflugerville from NewQuest Properties. Josh Friedlander and Kevin Sims of NewQuest represented the landlord. Michael Walters of Falcon Realty Advisors represented the tenant.
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Gray & Co. Realtors Inc. leased 3,158 square feet of office space in Highland Park West at 4300 MacArthur Ave., Dallas. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. represented the tenant.
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JLL Capital Markets closed the sale of Parkview on Hollybrook, a 189-unit senior living community in Longview, Texas. JLL marketed the property exclusively for the seller, an Austin-based private equity group. A joint venture between MedCore Partners and The National Realty Group purchased the asset for an undisclosed amount. Integral Senior Living of Carlsbad, California, will manage the community.
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Cinnamon Shore South broke ground on Feb. 21 on a new pool complex as part of a $1.3 billion expansion at Cinnamon Shore on TX 361 in Port Aransas, Texas. The heated, resort-style pool and landscaped amenities are scheduled to open in May 2021.
Feb. 24, 2020 Realty News Report Copyright 2020
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