RNR Real Estate Briefs from Realty News Report —HOUSTON – NAI Partners arranged the sale of 47.2 acres at 11022 Telephone Road in Houston. NAI Partners’ Zane Carman and Clay Pritchett represented the seller, while David Claros and Robert Graf of Dosch Marshall Real Estate represented the buyer.
HOUSTON – First Reserve Corp., a private equity firm, leased 15,000 square feet at San Felipe Plaza in the Tanglewood area. First Reserve was co-represented by Philip Price of Newmark and Trey Strake of Cushman & Wakefield. Parkway’s Director of Leasing, Rima Soroka, negotiated on behalf of the landlord.
HOUSTON – Miami-based Atlantic Pacific Companies acquired the 401-unit Broadstone Memorial on North Eldridge Parkway in the Energy Corridor. The purchase is Atlantic Pacific’s eighth acquisition for its third private equity fund, Blue Atlantic Partners Fund III (BAP III), and expands the firm’s Texas portfolio to 17 properties totaling roughly 6,000 units.
HOUSTON – The Multifamily Group, a Dallas commercial real estate brokerage, closed the sale of two apartment properties in Houston: the 105-unit Winsome Court and the 83-unit Tiffany Square Apartments. Greg Miller represented the two separate sellers; Bryce Smith represented the single buyer. Both properties were built in 1973.
HOUSTON – Patrinely Group, joint venture partner with USAA Real Estate and CDC Houston developing the 60-acre urban core of north Houston’s City Place, announced that SHOP Companies was selected as the district’s retail leasing agent. City Place sits at the intersection of Interstate 45, the Grand Parkway and the Hardy Toll Road. SHOP Companies will lead leasing for four ground-floor sites totaling 55,000 square feet of retail space under the direction of Dennis Tarro and Phillip Moore of Patrinely Group.
SPRING – Stan Johnson Company completed the sale of a four-building medical office park at 4701 Farm to Market 2920 in Spring. Combined, the properties total 20,191 square feet and were 83 percent leased. Evan Altemus of Stan Johnson Company represented the seller, a Texas-based developer.
HOUSTON – The 134-room Studio 6 Houston hotel at 220 Bammel Westfield Road near Interstate 45 has been sold, according to Marcus & Millichap.
HOUSTON – David J. Littwitz of Littwitz Investments handled the sale of the 9,047-square-foot Steamboat House restaurant on 2.66 acres at 8045 North Sam Houston Parkway West. The restaurant closed in 2022. Littwitz represented the seller, Steamboat House, LP. The buyer, Brah, LLC, was represented by S.J. Mand with KW Commercial Realty. Financing for the buyer was provided by Wallis Bank and the closing was handled by Riverway Title Co.
HOUSTON – George Montes of Cypressbrook Co. represented the seller, ADT PLT, in the sale of a 2,960-square-foot auto dealership building on a 25,483-square-foot lot at 12303 Chimney Rock. AJ Williams of NAI Partners represented the buyer, Spark Partners LLC.
CONROE – SVN | J. Beard Real Estate closed the sale of a two-acre parcel at State Highway 242 and Lexington Drive in Conroe to LK Pop Holdings for a Popeyes restaurant. Diana Gaines of SVN | J. Beard Real Estate represented the seller. Greg Slusky of Sluco Realty Services represented the buyer.
SPRING – John Hornbuckle of Cypressbrook Co. and Ray Larson of ReMax represented McCoy, LLC in the sale of eight acres on East Hardy Street in Spring.
HOUSTON — A 5,818-square-foot shopping center at 503 Westheimer Road in Montrose sold to Sea Pretty, LLC from Moench Family Partnership. The lower Westheimer property, which houses The Bar Method and The Seafood Connection, sits on 14,873 square feet of land. Mike Maroney of MPM Commercial represented the buyer; the seller was represented by Mark Davis of Davis Commercial Real Estate.
PEARLAND – Kimberly DeVos of Cypressbrook Co. represented The Rooster in leasing restaurant space at 7129 W. Broadway in Pearland. The landlord, 2ML Real Estate Interests, was represented by Rusty Lily with CBRE.
HOUSTON — Home Great Supply, LLC and Fu Fu Holdings, LLC purchased a 38,000-square-foot office building at 9207 Country Creek Drive in southwest Houston. The buyers will relocate their home improvement and building supply wholesaler to the property, which will include a showroom and offices. The buyers were represented by Vicky Lu of Sunet Group; the seller, Adonai Plaza, LLC, was represented by Lisa Rimkus of Davis Commercial.
KATY – NAI Partners arranged a 4,000-square-foot retail lease to Sushi Mafia at Westgreen Commons, 1400 N Westgreen Blvd in Katy. NAI Partners’ Jason Gaines represented the landlord, Sea Pretty LLC, Long Coffee Realty LLC and Capital RC Investments.
CONROE – NAI Partners arranged the sale of 6.6 acres in Conroe. NAI Partners’ Hunter Stockard, Cary Latham and Wyatt Huff represented the seller, Mediterranean Sea Capital. Tyler Clements of NAI Partners represented the buyer, Arissa Properties.
TEXAS – RNR Real Estate Briefs from Realty News Report
SCHERTZ — Atlanta-based Ackerman & Co. has broken ground on Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. The Class A distribution center will offer 32-foot clear heights, 318 car parking spaces and 96 trailer parking spots, with two undeveloped acres reserved for additional storage. Completion is slated for February 2023. NAI Partners has been appointed to lease the development.
AUSTIN – Ryan Companies broke ground on a 345-unit multifamily community in Mueller, the 700-acre redevelopment of Austin’s former airport site.
DALLAS – B+E, a brokerage and technology platform for net lease real estate, opened a Dallas office and named Wayne Bare as founding broker.
DALLAS – Wooden Camera Inc., a division of London-based Vitec Group, nearly doubled the size of its headquarters and support space with a long-term lease for 14,144 square feet in Northgate II in northeast Dallas, represented by Bradford Commercial Real Estate Services.
NATIONAL — RNR Real Estate Briefs from Realty News Report
NEW YORK — The Necessity Retail REIT completed acquisition of 10 open-air shopping centers for $220.8 million. This closing is the second tranche of a previously announced agreement to acquire a portfolio of 79 power-anchored and grocery-anchored centers from CIM Real Estate Finance Trust, Inc. for $1.3 billion.
LAS VEGAS — U-Haul acquired the former Bonanza Mini Storage facility at 2210 W. Bonanza Road to better serve moving and self-storage demand in the Las Vegas area.
TUCSON — Vertical Street Ventures acquired the 96-unit Redondo Tower, a downtown high-rise apartment building in Tucson. VSV partnered with Ral West and John Hardwick of Hardwick Apartment Homes, Ashok Patil and Mohit Bansal of Prime Investment, and Louie Caumban and Rosalind Caumban of Fastpath Capital Group. The Tucson market’s multifamily vacancy rate stands at roughly 4 percent.
ETC. — RNR Real Estate Briefs from Realty News Report
BATON ROUGE — Houston-based Fidelis acquired Siegen Plaza, a 156,441-square-foot regional power center in Baton Rouge. JLL Capital Markets represented the seller, TriGate Capital LLC. The 94-percent-leased retail property hosts the top-performing HomeGoods and Ross Dress for Less stores in Louisiana, and a Target serving as a shadow anchor.
DALLAS — Duke Realty Corp. announced 10 new lease agreements and renewals in its Texas office during the fourth quarter of 2021, totaling 1,306,320 square feet of industrial space. Highlights include a renewal and expansion with Genera Corporation for 260,819 square feet and a new lease with Dynamic Glass Products for 116,980 square feet. As a result of this activity, Duke Realty’s Dallas portfolio of more than 17 million square feet is fully leased, while its Houston portfolio has a single vacancy. Other notable deals include leases and renewals with SWS, Valassis, Geodis, a global e-commerce retailer, DAP, and Berlin Packaging.
- Renewal and expansion with Genera for 260,819 SF at 600 Freeport Parkway, Coppell;
- New lease with Dynamic Glass Products for 116,980 SF at 611 South Royal Lane, Coppell;
- New lease with SWS for 43,650 SF at 3102 Miller Park South, Garland;
- Renewal with Valassis for 135,231 SF at 801 Seaco Court, Deer Park;
- Renewal with Geodis for 158,940 SF at 8210 Humble Westfield, Houston;
- Renewal with a global e-commerce retailer for 240,000 SF at 8120 Humble Westfield, Houston;
- Renewal with DAP for 130,900 SF at 3102 Miller Park South, Garland;
- Renewal and expansion with Berlin Packaging for 219,200 SF at 13788 West Road, Houston.
Duke Realty’s Matt Hyman and Bryan Parker worked with brokers from Westway Realty, Newmark Real Estate of Houston, CBRE, Paladin Partners, ProVenture Commercial, KBC Advisors, Citadel Partners and Cushman & Wakefield to secure these deals.
March 5, 2022 Realty News Report Copyright 2022
File: RNR Real Estate Briefs
RNR Real Estate Briefs are published by Realty News Report
Photo Credit: photographer Mabry Campbell. San Felipe Plaza – Parkway.