RNR Real Estate Briefs from Realty News Report — SPRING, Texas — Patrinely Group, LLC, managing member of the joint venture with USAA Real Estate and CDC Houston developing CityPlace, announced that Caliber Solutions and Continental Land & Fur Co., Inc. have signed leases at CityPlace 1, 1700 City Plaza Drive, Spring, Texas. CityPlace 1, the first multi-tenant office building at CityPlace at Springwoods Village, totals 149,500 square feet. Caliber Solutions, a technology advisory and professional services firm, will occupy 4,475 square feet, and Continental Land & Fur, an oil and gas producer, will occupy 5,273 square feet. Continental was represented by Jim Pratt of Colliers. Chrissy Wilson of JLL, under the direction of Patrinely’s Dennis Tarro, represented the landlord.
HOUSTON — Transwestern Real Estate Services announced it negotiated a long-term retail lease at Galleria Park with P.F. Chang’s China Bistro. The restaurant is relocating from Highland Village to occupy 6,135 square feet at 5251 Westheimer Road in Houston. Loch Cook and Nick Hernandez negotiated the lease for landlord TR Galleria Place Corp. Jack Breard of Segovia Partners provided tenant representation for P.F. Chang’s.
HOUSTON — Liberty Oilfield Services, LLC has leased 20,382 square feet at One Memorial City Plaza, 800 Gessner Road, Houston. Anya Marmuscak of JLL represented the tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational.
HOUSTON — Silverbow Resources, Inc. will move into a 16,213 square foot office at 920 Memorial City Way, Houston, in mid-May. Kevin Kushner and William Padon of CBRE represented the prospective tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational.
HOUSTON — Jason Gibbons with Finial Group arranged a lease at 14505 Torrey Chase Blvd., Suite 110, in Houston. The tenant, Robert Adams, Inc., signed a lease at the office building in Northchase Business Park in North Houston. The firm, based in Houston, is licensed to practice architecture and interior design in Texas. Finial Group represented the landlord.
HOUSTON — The Institute of International Education, Inc. renewed its lease for 5,227 square feet at 1800 West Loop South in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented building owner Pacific Oak.
HOUSTON — Jura Energy Management, LLC has expanded its lease to 15,184 square feet at Memorial City Place, 9821 Katy Freeway, Houston. Randy Wilhelm and Liz Westcott-Brown of NAI Partners represented the tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational.
HOUSTON — Houston-based Vivaldi Music Academy opened its fourth location at Sugar Land Town Square, joining its existing sites in West University, Bellaire and Memorial. The new 2,500 square foot facility replaces Sessions Music and complements recently added Sugar Land Town Square tenants. Founded in 2013, Vivaldi Music Academy offers music classes for students of all ages and skill levels.
HOUSTON — Clean and Clear Pools leased 2,000 square feet in the Easton Commons Shopping Center at 8542 Highway 6 N. in Houston. The family-owned company, which specializes in pool maintenance and repair, will offer a full line of pool supplies and equipment at the new location. This transaction was handled exclusively by Wulfe & Co.
HOUSTON — SCP Eye Care Services, LLC renewed its lease for 5,171 square feet at 11550 Fuqua in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented the building owner, Board of Trustees of the Maritime Association – I.L.A. Pension Fund.
CONROE, Texas — Larry Peters of NorthMarq’s Houston office finalized a cash-out refinance for Market at Shenandoah, an 11,560 square foot Class A retail and service property in Conroe. The financing was structured with a 10-year term on a 25-year amortization schedule at a 3.65% interest rate. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra.
SUGAR LAND, Texas — Art Museum TX, a Fort Bend–based nonprofit dedicated to promoting contemporary Texas art through exhibitions, events and education, will launch a two-year residency at Sugar Land Town Square in May. Curated by Ana Villaronga-Roman, Art Museum TX will occupy a 4,000 square foot space adjacent to the central plaza.
TEXAS RNR Real Estate Briefs
AUSTIN — Cousins Properties plans to begin development of Domain 9, a 335,000 square foot office building in Austin, during the second quarter of 2021. The total project cost is $147 million with delivery slated for mid-2023. Cousins is a real estate investment trust based in Atlanta.
ARLINGTON, Texas — StreetLights Residential, a Dallas-based developer of multifamily and mixed-use communities, has broken ground on the second phase of its newest multifamily project in Viridian, a 2,000-acre master-planned community in Arlington between Dallas and Fort Worth. The new community will include 343 apartment homes ranging from studios to three-bedroom units and will offer access to lakes, trails, shopping and event venues.
GRAND PRAIRIE, Texas — Lykes Cartage Co. Inc. expanded and relocated into 68,818 square feet of Class A industrial space in the Great Southwest Industrial District. The cargo and freight company moved to 2880 113th St. in Grand Prairie, signing a long-term lease for nearly 69% of the Great Southwest Distribution Center. CORFAC International affiliates Joe Santaularia of Bradford Commercial Real Estate Services and Russell Todd of Centric Commercial represented Lykes and handled the subsequent sublease of its former 28,000 square foot warehouse in Grapevine.
NATIONAL RNR Real Estate Briefs
RALEIGH, N.C. — Lionstone Investments of Houston recently acquired Vine North Hills, a newly completed residential development in midtown Raleigh. Delivered in October 2020, Vine is a 326-unit multifamily property in the North Hills submarket and is currently 48% leased. Developed by Kane Realty Corp. as part of the first phase of the 33-acre North Hills Innovation District, the project will eventually include two high-rise office towers, three additional residential buildings, 60,000 square feet of street-level retail and connectivity to the Capital Area Greenway.
BENSENVILLE, Ill. — Commercial real estate firm Lee & Associates closed a long-term lease for a 306,918 square foot industrial building at 1010 Foster Ave. in Bensenville. Mark Baumhart from Lee & Associates’ Illinois office represented the owner, Prologis. Terry Herlihy of NAI Hiffman represented the tenant, Yahee Technologies.
VERNON, Calif. — Lee & Associates – Commerce represented 2761 Fruitland Ave., LLC in the sale of a 268,049 square foot creative office complex at 2707, 2711, 2761 Fruitland Ave. and 5125 Soto Street (formerly BCBG) in Vernon for $24.5 million. Peter D. Bacci and Jack R. Cline of Lee & Associates – Commerce represented the seller, while Mollie Dietsch, also of Lee & Associates – Commerce, represented the buyer, YJK 2021 Exchange, LLC (IRIS), a garment manufacturer based in Vernon.
ORLANDO, Fla. — JLL Capital Markets arranged a $197 million refinancing of a 10-property retail portfolio totaling more than one million square feet across Washington, D.C., Baltimore, Chicago, San Diego, Los Angeles, San Francisco and Seattle. JLL worked on behalf of the borrower, a partnership managed by Regency Centers Corp., to arrange 10 uncrossed first mortgage loans on a 10-year, fixed-rate, interest-only basis with Hartford Investment Management Co. The portfolio is 97% leased and consists primarily of grocery and pharmacy neighborhood centers anchored by Trader Joe’s, Giant, Safeway, Ralphs, Albertsons, Mariano’s, Walgreens, CVS and Rite Aid.
DENVER — Watermark Residential completed the sale of Dayton Station, a 63-unit leased townhome community in the Cherry Creek area of Aurora. Red Peak acquired the property for $33.5 million.
DENVER — Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition, entered a joint venture with San Francisco-based DivcoWest to invest $250 million of equity in single-family rental homes across the Western United States. The joint venture expects to deploy $1 billion to acquire and renovate homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
May 1, 2021 Realty News Report Copyright 2021
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