HOUSTON – (RNR Real Estate Briefs from Realty News Report) – Colliers International announced the sale of Midstream Business Park, a 23,657-square-foot flex building located at 2830 FM 565 in Mont Belvieu, Texas. The buyer, Kimberlee Partners LP, was represented by Hart Schleicher of Capital Real Estate Commercial, Inc. Colliers’ Judd Harrison and Jason Tangen represented the seller, Bellwether Interest, LLC. Midstream Business Park is fully leased and subject to deed restrictions.
McDonald’s and Express Oil Change each ground-leased one-acre pad sites in The Grand at Aliana, at Grand Parkway (TX-99) and West Airport Boulevard in Richmond, Texas, from NewQuest Properties. Josh Friedlander and David Meyers of NewQuest represented the landlord. McDonald’s handled its own representation, while Greg Sluco of Sluco Realty Services represented Express Oil Change.
CLEAR LAKE CITY – Spirit of Texas Bancshares, Inc., the holding company for Spirit of Texas Bank, announced a branch purchase and assumption agreement to sell its Clear Lake, Texas branch to Moody National Bank of Galveston.
HOUSTON — NAI Partners arranged a 7,613-square-foot retail lease for Sally Beauty Holdings, Inc. at 3040 FM 1960 East in Houston. NAI Partners’ Patrick Keegan and Jason Gaines represented the landlord in the transaction.
MBC, LP secured a sublease for a 16,350-square-foot industrial space at 5111 Milwee Street in Houston. Doc Perrier of Finial Group represented the sublessor, and Travis Land of NAI Partners represented the sublessee.
Justin Harrity represented landlord Hartman Income REIT in multiple leases at 5151 Mitchelldale in Houston totaling 28,530 square feet. Represented by Jones Lang LaSalle, A Better Tripp Moving and Storage renewed a 13,200-square-foot lease for five years. Geoshack expanded to 8,618 square feet on a five-year lease, and Synthetic Oils & Lubricant renewed a 6,712-square-foot lease for five years.
HOUSTON — NAI Partners recently sold a 6,000-square-foot industrial property at 16643 Telge Road on behalf of seller JDFM Telge Jared Clayton, LLC to buyer GKCG Properties, LLC. NAI Partners’ Travis Land and AJ Williams represented the seller; the buyer was represented by Jared Clayton.
Boltera, LLC leased a 3,826-square-foot property at 1880 S. Dairy Ashford Road in Houston on a three-year term. Kacie Skeen represented the landlord, Hartman Income REIT.
TEXAS
Lewis Logistics leased 15,518 square feet at Gateway 161 Corporate Park, 4500 W. Walnut Hill Lane in Dallas. Bob Hagewood and Jeremy Kelly with Stream Realty Partners represented the landlord, Hines Interests. TenantBase, Inc. represented the tenant.
AUSTIN – Rastegar Property Company acquired The Edge at SoCo, a 35-unit garden-style multifamily community in the Buckingham Ridge area of South Austin. The property is 94% occupied.
LAREDO — Berkadia arranged the sale and financing of Lago del Mar Apartments, a 260-unit garden-style rental community at 7550 Country Club Drive in Laredo, Texas. Ryan Epstein of Berkadia’s Houston office, along with Mike Miller, Will Caruth and Cody Courtney of Berkadia’s San Antonio office, represented the seller, a Chicago-based real estate investment manager. Cutt Ableson of Berkadia’s Houston office secured financing for the buyer, Haley Real Estate Group, through Fannie Mae.
Lune Rouge Entertainment USA Inc. signed a lease for 37,896 square feet at 700 106th Street in Arlington, Texas. Sarah Ozanne and Luke Davis with Stream Realty Partners represented the landlord, Restaurant Services Inc.
HUTTO — BBVA leased 2,450 square feet of retail space in Townwest Commons at TX-79 and CR 119 in Hutto, Texas, from NewQuest Properties. Meredith McLeod-Cobb of NewQuest represented the landlord; Cassie Watts of CRESA Global represented the tenant.
ORIX USA leased 10,766 square feet at Trammell Crow Center, 2001 Ross Avenue in Dallas. Ramsey March, Sara Terry and Chase Lopez with Stream Realty Partners represented the landlord, J.P. Morgan Asset Management. Colliers International represented ORIX USA.
DALLAS — Younger Partners launched a new platform, Younger Partners Investments, to acquire retail properties across the Dallas/Fort Worth Metroplex, ranging from lifestyle centers to neighborhood retail. Micah Ashford has been hired to lead the new division.
Synergen leased 3,120 square feet in Culebra Commons Phase II at 7010 W. Loop 1604 N in San Antonio. Maury Bronstein and John S. Wall, Jr. of 1912 Ventures represented the tenant. Addison McAuley and Benjamin Dreszer of Fulcrum Property Group, Inc. represented the landlord, SLF IV – Culebra 1604 Investors JV, LP.
LUBBOCK — JLL Capital Markets closed the sale of 3601 21st St., a 20,880-square-foot single-tenant, net-leased medical office property in Lubbock, Texas. JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute. The buyer was Los Angeles-based RealtyMogul. The property is fully leased to Covenant Health System, the region’s dominant provider and the largest healthcare institution in West Texas.
Touchstone Medical Imaging, LLC leased 8,446 square feet at Parkway Centre III, 2745 Dallas Parkway in Plano, Texas. Matt Wieser and Ryan Evanich with Stream Realty Partners represented the landlord, Wolverine Interests; Evonne Keene with KW Commercial represented the tenant.
NEW BRAUNFELS — Trendmaker Homes, a member of TRI Pointe Group, announced its first offerings at Meyer Ranch, a new master-planned community of roughly 700 acres in the northeast San Antonio-area city of New Braunfels. Trendmaker’s River Collection will include 47 single-family homes with one-, one-and-a-half-, and two-story plans. Home sizes will range from approximately 1,923 to 2,986 square feet, with flexible options that can expand some plans beyond 3,000 square feet. Prices start in the high $200,000s.
NATIONAL
TITUSVILLE, Fla. – National developer North American Properties acquired 21 acres in Titusville’s Riverfront Center development at the southeast corner of U.S. 1 and NASA Causeway. The parcel sits at the entrance to Kennedy Space Center, between major aerospace employers. Preliminary phase-one plans call for multiple buildings totaling about 135,000 square feet of traditional office, office-warehouse and manufacturing space, plus commercial outparcels to serve the market. This marks the Cincinnati-based company’s first project on Florida’s Space Coast, with additional developments planned.
PANAMA CITY BEACH, Fla. – Watermark Residential, an affiliate of Thompson Thrift and a national multifamily developer, purchased 17 acres in Panama City Beach and plans to develop Watermark at UrbanBlu, a Class A multifamily community expected to be completed in April 2022.
CHICAGO, Ill. – Pearlmark closed a $24.5 million mezzanine investment for the development of 300 N. Michigan Avenue in Chicago. The mixed-use project will include 289 residential units, about 25,000 square feet of flagship retail and 280 hotel rooms presold to citizenM. The sponsor is a joint venture between Sterling Bay and Magellan Development Group. The investment was originated by Pearlmark on behalf of Pearlmark Mezzanine Realty Partners IV, LP and Monroe Capital. A senior construction loan was provided by Bank OZK, and JLL represented the borrower in securing financing.
July 25, 2020 Realty News Report Copyright 2020
Image: North American Properties
File: RNR Real Estate Briefs. File (2) RNR Real Estate Briefs HOU, DAL, AUS, SAT, MCO, ORD, PNS
