HOUSTON – (RNR Real Estate Briefs from Realty News Report) – Stonelake Capital Partners has purchased a 238,000-square-foot last-mile warehouse facility leased by Amazon in the Energy Corridor of west Houston. The seller was a joint venture between Transwestern Development Company and UBS Realty Investors. The JLL capital markets team of Rusty Tamlyn, Trent Agnew and Charlie Strauss represented the seller. Stonelake also acquired an adjacent 14-acre parcel in a separate transaction handled by Brian Gammill of Transwestern.
SUGAR LAND – Colliers International announces the sale of Colony Place, a 14,050-square-foot shopping center located at 4403–4411 Highway 6 in Sugar Land. The buyer, DML Colony LP, was represented by Anita M. Amin of Preston Cunningham Ventures, LLC. Ace Schlameus and Jenny Seckinger of Colliers International represented the seller, Hass Holdings, LLC.
HOUSTON — Regent Properties and Transwestern Real Estate Services report that Ryan, LLC has leased 66,750 square feet at Park Towers, 1233 W. Loop South in Houston’s Uptown/Galleria submarket. Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern provided agency leasing services on behalf of landlord Regent Properties. Park Towers is a Class A office property totaling 545,242 square feet, composed of two 18-story buildings.
FRIENDSWOOD – The Burger Joint has leased a retail space in front of Baybrook Mall for a new restaurant scheduled to open later this year. Chris Reyes and Tyler Trevino of ShopCos represented The Burger Joint; Elise Weatherall of Wulfe & Co. represented the landlord.
The U.S. Department of Veterans Affairs has leased a 9,600-square-foot freestanding building at 1701 Webster in Midtown Houston. Fred Ghabriel of Bejjani & Associates represented the landlord, 1701 Webster Ltd. The building, constructed in 1984, will be used as a VA Community Resource and Referral Center.
Kiddie Academy Educational Child Care broke ground on a new location at 13909 Mandolin Drive in Cypresswood. The 10,500-square-foot build-to-suit daycare is scheduled to open in early 2021 and will be owned and operated by Cami Dinh and Taun Le. Maury Bronstein and John S. Wall Jr. of 1912 Ventures represented Kiddie Academy, while Dallas-based Woodmont Land Company worked on behalf of the buyer/developer. Greg Slusky of Sluco Realty Services represented the seller, Lakhany Holdings LLC.
Houston Realty Advisors, Inc. arranged a 4,326-square-foot renewal and expansion for Houston Allergy and Asthma Clinic to the 14th floor of the 1200 Binz office/medical Park Plaza Tower. Ed A. Ayres of Houston Realty Advisors represented the tenant; Jason Cheeks of Healthcare Trust of America, Inc. represented the landlord.
Caplan Surgery Center renewed a lease for 4,995 square feet at 3100 Weslayan in Houston for four years. Daper, Inc., dba McAlpine Interests, represented the tenant and Richard Maloof represented the landlord, Hartman Income REIT.
HOUSTON – Doc Perrier, Jason Gibbons and Jack Gaffney with Finial Group represent the owner of Independence Business Park at 6811 McHard Road. The development will offer seven freestanding, crane-capable buildings ranging from about 17,025 to 50,000 square feet in a master-planned industrial park. Andrew-Jordan Industrial, LLC, represented by Chris Caudill with NAI Partners, purchased Building 1, a 17,025-square-foot facility.
HOUSTON — JLL’s Chris Wadley and Mallory Douthit will market and lease 6624 Fannin Tower in the Texas Medical Center. Owned by Texas Children’s Hospital, the 27-story tower—recognized by its twin spire-topped octagonal towers—was built in 1991. The property offers nearly 450,000 square feet of medical space and houses roughly 30 institutional and private practices.
Berkeley Eye Center extended its 20,750-square-foot lease at 3100 Weslayan in Houston for an additional four years. Daper, Inc. dba McAlpine Interests represented the tenant and Richard Maloof represented the landlord, Hartman Income REIT.
Circulus Holdings leased 3,221 square feet at 1400 Broadfield Blvd. in Houston for six years. Tommy Wilson of Fitsche Anderson Realty Partners represented the tenant and Ami Fig represented the landlord, Hartman Income REIT.
TEXAS
FORT WORTH — KRS Realty Advisors completed a two-building renovation that brings 12,000 square feet of modern office and retail space to the historic Fort Worth Stockyards. Stream Realty is marketing the property. The first tenant is Austin-based western brand Tecovas, which leased 3,474 square feet and will operate its Fort Worth flagship at the site.
LIVE OAK — Miami-based Atlantic Pacific Companies (A|P) announced the acquisition of the 378-unit Mira Loma Apartments in Live Oak, Texas, near I-35 and Loop 1604. The purchase is the fourth acquisition for A|P’s third private equity fund, Blue Atlantic Partners Fund III. With this addition, A|P now owns more than 5,000 units in Texas.
ALLEN — JaRyCo, an Allen-based developer, has partnered with the Johnson family to convert family farmland at the southeast corner of Sam Rayburn Tollway and Alma Drive into a mixed-use community called The Farm in Allen. The 135-acre project, long planned for redevelopment, will include more than 1.6 million square feet of office space, 142,000 square feet of retail, a 150-key hotel, 60,000 square feet of restaurants, townhomes and approximately 2,400 urban residential units. Infrastructure work was expected to begin in late 2020.
NEW BRAUNFELS — Trendmaker Homes, part of TRI Pointe Group, announced its first homes at Meyer Ranch, a new master-planned community of roughly 700 acres in the northeast San Antonio area near New Braunfels. Trendmaker’s River Collection will include 47 single-family homes on 55-foot lots.
AUSTIN — Carter Breed of CBRE will represent the Galesi Group in marketing 700 acres of land within the Harris Branch development in northeast Austin. The Galesi Group first acquired more than 1,500 acres in Harris Branch in 1996.
DALLAS — Crescent Property Services, LLC and J.P. Morgan Asset Management announced a lease renewal with Stanley Korshak at The Crescent, a prominent mixed-use development in Dallas’s Uptown featuring office towers, luxury retail and the Hotel Crescent Court. The renewal maintains Stanley Korshak’s presence in 51,191 square feet across the first and second floors of The Crescent Atrium. The store, originally launched by Caroline Rose Hunt in 1986, remains the primary retail anchor at The Crescent.
Evolve Scholastic Inc. leased a 12,000-square-foot office/warehouse at 8920 Premier Row in Dallas from 462 Thomas Family Properties, LP. Richmond Collinsworth of Bradford Commercial Real Estate Services represented the tenant; Kevin Conlon of Gillis Thomas Co. represented the landlord.
Camera Ready Cosmetics leased 7,223 square feet of flex space in Alpha Business Park, 4300 Alpha Road, Farmers Branch, from Kennington Alpha Business Center, LLC. Brian Pafford and Susan Singer of Bradford Commercial represented the landlord; Sarah Kennington and Bryce Jackson of Thirty-Four Commercial represented the tenant.
Quality Biomedical leased 4,500 square feet of office/warehouse space at 1208 Tappen Circle in Carrollton from CCG Valwood, LP. Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord and Danny Muse of Tenant Base represented the tenant.
NATIONAL
SALT LAKE CITY — A development venture formed by Houston-based Patrinely Group and USAA Real Estate has started construction on 650 Main, a 10-story, 332,100-square-foot Class A office and retail project at the corner of Main Street and 600 South in downtown Salt Lake City.
NEW YORK — B+E, a brokerage and technology platform focused on net lease real estate, announced the sale-leaseback of 17 7-Eleven store properties for $71,500,000. The net-leased properties total approximately 17.373 acres; the buyer was a private fund.
MEMPHIS, Mich. — Austin Hull of Greystone Bel closed the sale of Belle Terrace Apartments, a 37-unit multifamily property in Memphis, Michigan, for $1,500,000 (approximately $40,540 per unit).
MARIETTA, Ga. — Greystone Brown Real Estate Advisors announced the $31,200,000 sale of a 222-unit multifamily property located at 880 South Cobb Drive. Greystone Brown represented both seller Wilkinson Corporation and buyer Asset Development and Management Group, LLC. The advisory team included Jim Jarrell, Cory Caroline Sams, Chandler Brown, Walter Miller, Taylor Brown and Bo Brown.
SAN MATEO, Calif. — Pulte Homes has purchased an 11-acre site strategically positioned between San Francisco and Silicon Valley for redevelopment into a residential neighborhood of approximately 190 homes. The Hoffman Company, which brokered the transaction, reports public records listing the price at $106 million. The property was formerly an underutilized office complex known as Waters Technology Park, built in 1979.
July 18, 2020 — Realty News Report. Copyright 2020
File: RNR Real Estate Briefs
