HOUSTON – TFH Reliability Group has signed a new lease for 14,861 square feet at Sam Houston Crossing II. Transwestern’s Doug Little, Louann Pereira and Matthew Seliger represented Buchanan Street Properties, the landlord. Patrick Wolford and Travis Taylor of Lee & Associates and Robert Parsley and Chris Nash of Colliers International represented the tenant. The 159,000-square-foot building is located at 10344 Sam Houston Park Drive in suburban Houston.
Houston-based Veritas Title Partners, LP has signed a 7,011-square-foot lease at the recently completed 200 Park Place building, located at 4200 Westheimer Road within the Park Place River Oaks development. The office will serve as the firm’s new headquarters. Veritas Title Partners, led by CFO Michael Knudsen and COO Sandra Paige, serves residential and commercial clients nationwide. Senterra Real Estate Group’s Neil Tofsky and Kevin Tofsky represented Veritas. Brad Beasley and Connor Saxe of Cushman & Wakefield represented the landlord, Stonelake Capital Partners.
HOUSTON — Colliers International announced the sale of a 132,000-square-foot distribution building at 6410 West Sam Houston Parkway North. David Carter and Jeff Peltier of Colliers represented the seller. The build-to-suit facility sits on 18.2 acres and is currently occupied by FedEx Ground.
NAI Partners arranged an 8,600-square-foot industrial lease for Viking Engineering at 4930 Dacoma Street in Houston. NAI Partners’ Alex Taghi represented the tenant. Viking Engineering provides well construction design and analysis solutions for the upstream oil and gas industry.
Century Communities, a national homebuilder, acquired land for two new residential communities in the Houston area. The developments will create a total of roughly 700 home sites: Fairway Farms in Tomball at FM 2978 and Bogs Road, and Aurora in Katy at Peek and Beckendorff roads.
Hunt Southwest Real Estate is developing a one million-square-foot industrial complex in the Cedar Port industrial park in Baytown. CBRE’s Jason Dillee and Nathan Wynne are marketing the speculative development near the intersection of FM 1405 and Borusan Road.
Vantage at Tomball, LLC purchased 15.92 acres at 9102 FM 2920 in Tomball from K. McGaughy FM 2920 LLC. Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the seller, and Justin Patchen of Buffalo Real Estate Partners represented the buyer.
Painted Tree Marketplace signed a lease for 41,462 square feet in First Colony Commons Shopping Center at 15425 Southwest Freeway and Williams Trace Boulevard in Sugar Land. Based in Little Rock, Arkansas, Painted Tree Marketplace is a retail concept that brings together hundreds of independent sellers offering clothing, accessories, home décor and unique gifts under one roof. The transaction was handled by Kristen Barker and Katherine Wildman of Wulfe & Co.
HOUSTON-based investment firm MLB Capital Partners announced the launch of MLB Commercial Real Estate (MLB CRE), a full-service commercial real estate brokerage. After eight years with Avison Young, Todd Mason, Jeff Lindenberger and their team left Avison Young to start the new firm.
The Blue Ox Group brokered the sale of the Popeyes property at Interstate 45 and Woodridge Drive, located at 7015 Gulf Freeway in Houston. Burdette Huffman and Josh Jacobs of The Blue Ox Group represented the seller.
Hartman Income REIT Management, a Houston-based commercial real estate firm, has broken ground on a 7,500-square-foot retail building at 17211 North Freeway in Houston. The development sits adjacent to a shopping center Hartman acquired in 2013, anchored by Floor & Décor.
Rapidcare Emergency Room leased a 6,580-square-foot freestanding building at the intersection of TX 146 and Fairmont Parkway in La Porte from 4808 North McCarty, LLC. David Meyers and Bob Conwell of NewQuest Properties represented the landlord. Gloria Ilochonowu of Keller Williams represented the tenant.
DX Electric Company renewed its lease for a 9,301-square-foot industrial space at Four Seasons Business Park in Houston. Jack Gaffney and John Buckley of The Finial Group represented the landlord, while Ryan Boozer and Lena Pierce of Stream Dallas represented the tenant.
The Devasco International building in Tomball — an 84,195-square-foot tilt-wall industrial facility at 1626 S. Cherry Street — was purchased by Welcome Group. The property includes approximately 16,200 square feet of office space.
Chipotle Mexican Grill leased 2,998 square feet in Brazos Town Center at Interstate 59 and FM 762 in Rosenberg from NewQuest Properties. Bob Conwell and Austen Baldridge represented the landlord. Traci Holman and Jason Baker of Baker Katz represented the tenant.
Restore Hyper Wellness & Cryotherapy leased 2,331 square feet of retail space in The Shops at Upper Kirby at 2715 Bissonnet Street in Houston from 2715 Bissonnet, LLC. Nick Ramsey of NewQuest Properties represented the tenant, and David Ferguson of BPI Realty represented the landlord.
The Blue Ox Group also brokered the sale of the Raising Cane’s property at Interstate 45 and Woodridge Drive, located at 7009 Gulf Freeway in Houston. Burdette Huffman and Josh Jacobs represented the seller. The Blue Ox Group is a boutique commercial real estate brokerage in Houston.
TEXAS – RNR Real Estate Briefs
RICHARDSON — Orlando-based Berkshire Property Holdings acquired a two-property, 568-unit apartment portfolio in Richardson for $56.8 million. The adjacent garden-style communities, built in 1979, sit on the 9900–10000 block of Walnut Street. William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns and Michael Ware of Berkadia handled the transaction. Freddie Mac financing was arranged by Brian Eisendrath of CBRE. Berkshire’s CEO and co-founder Zamir Kazi said the company plans to acquire additional Texas multifamily assets.
AUSTIN — Net Lease Development, LLC purchased a 1,500-square-foot Take 5 service center on 0.55 acres at 5400 Balcones Drive in Austin from Edry B&K-7 GP. Marc Peeler of NewQuest Properties represented the seller, and Randy Bell of Real Capital Investments represented the buyer.
ALLEN, Texas — The city of Allen, a northern Dallas suburb, reported more than 2 million square feet of new commercial development underway this summer, according to the Allen Economic Development Council. Projects include the forthcoming Allen Tech Hub and the newly opened One Bethany West, a 200,000-square-foot office complex. New companies locating in Allen include Crawford & Co., Highlands Residential Mortgage, Billings Productions and Brass Roots Technologies.
NATIONAL – RNR Real Estate Briefs
FULLERTON, Calif. — Lee & Associates announced the sale of a 48,234-square-foot freestanding industrial building at 1456 Manhattan Avenue in Fullerton for $10,011,111, or about $207.55 per square foot. Jim deRegt of Lee & Associates Newport Beach represented the seller, Kanaasardas, LLC, and Byron Foss of JLL represented the buyer, Salher, LLC. The buyer acquired the property as part of a 1031 exchange to expand its manufacturing capacity.
NEW YORK — JLL Capital Markets secured Dune Real Estate Partners as a joint venture equity partner and arranged $105 million in predevelopment debt financing for Turnbridge Equities for the Bronx Logistics Center, a 14.2-acre development site at 980 East 149th Street in the Bronx. The proposed project is a 1.2-million-square-foot, four-story last-mile distribution facility featuring approximately 70 loading docks.
MURRIETA, Calif. — Lee & Associates closed a $4.9 million sale of two multi-tenant industrial buildings totaling 39,976 square feet at 29980 Sky Canyon Drive and 29990 Technology Drive. Lee & Associates Temecula Valley representatives Matt Shaw and Blake Valdez represented the seller, Magnolia Industrial Park, LLC. The buyer, Dunbar Investments, LLC, was represented by Charley Black and Gordon Mize of the same office.
JLL Capital Markets arranged a $29.4 million refinancing for Alvista Golden Gate, a 200-unit, recently renovated multifamily community in Naples, Florida. The property is 95 percent leased, and the loan is a 12-year, fixed-rate Fannie Mae advance made through the Green Financing program.
Armada Hoffler Properties, Inc. entered a joint venture with Terwilliger Pappas to develop Solis Gainesville in Gainesville, Georgia. The $52 million development will include 223 multifamily units in downtown Gainesville, according to Louis Haddad, president and CEO of Armada Hoffler.
MIAMI BEACH — Developer Michael Shvo received approval from the City of Miami Beach Historic Preservation Board to move forward with a three-acre master plan for The Raleigh Hotel, the South Seas and the Richmond along Collins Avenue and 18th Street. The plan includes a new 175-foot oceanfront residential tower. The Raleigh Hotel, described by Shvo as “the crown jewel of Miami Beach,” was purchased from Tommy Hilfiger in February 2019 for $103 million.
Sept. 12, 2020 Realty News Report. Copyright 2020.
File: RNR Real Estate Briefs
