RNR Real Estate Briefs from Realty News Report – HOUSTON — BHVA Real Estate Holdings purchased a 125,278-square-foot industrial building at 13101 Almeda Road in Houston. Doc Perrier, Jack Gaffney and John Buckley of Finial Group represented the seller, Agarita Almeda, LLC. Matt Rogers of Oxford Partners represented the buyer.
HOUSTON — Kyle Whieldon of Cypressbrook Company represented the tenant, Big G Steel, in leasing 5,493 square feet of office/warehouse space at 751 Bradfield in Houston. John Gazzolla of Lee & Associates represented the landlord, HPI Holdings.
ROSENBERG, Texas — SuperNova Furniture leased 40,000 square feet of retail space in Brazos Town Center, located at Interstate 60/US Highway 59 and FM 762 in Rosenberg, from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Joe Silver and Chris Pitts of Streetwise Retail Advisors represented the tenant.
BAYTOWN, Texas — The Teahouse has leased 1,400 square feet in Baytown Marketplace. The Teahouse, a family-friendly boba tea operator offering made-to-order drinks, now has 24 locations across the greater Houston area. The landlord was represented by Chris Hipps of Direct Retail Partners, and the tenant was represented by Wes Miller of Wulfe & Co.
HOUSTON — George Montes of Cypressbrook Company represented the tenant, Teksys, Inc., in leasing a 3,000-square-foot warehouse at 5401 Mitchelldale St., Houston. Justin Harrity represented the landlord, Hartman Income REIT Management, Inc.
PASADENA, Texas — Kimberly DeVos of Cypressbrook Company represented the tenant, Pelican Grill, in leasing 2,145 square feet of retail space for its second restaurant at Shoppes at Fairmont Crossing, 7315 Fairmont Parkway, Pasadena. The landlord, The Center at Fairmont Crossing, LP, was represented by Jon Kantalis with Rob Johnson Interests.
KATY, Texas — Mister Car Wash entered a ground lease for a 1.7-acre pad site at Shops at Katy Reserve, at FM 1463 and Spring Green Boulevard in Katy, from NewQuest Properties. J.J. McDermott and Kevin Sims of NewQuest Properties represented the landlord. Joe Silver of Streetwise Retail Advisors represented the tenant.
CYPRESS, Texas — Orthosmiles leased 2,100 square feet of retail space in Shops at Rock Creek in Cypress from NewQuest Properties. Andrew Alvis of NewQuest represented the landlord, and Trey Hargrave of Dental Space Advisors represented the tenant.
HOUSTON — Fat Tuesday leased 1,940 square feet of retail space in Dunvale Center at 8350 Westheimer Road in Houston, from Edge Realty Partners LLC. Andrew Alvis of NewQuest Properties represented the tenant. Kathy King of Edge Realty Partners represented the landlord.
HOUSTON — P + R Productions, a video production company, leased 1,200 square feet at 1458 Campbell Road. Melissa Gerber Brams of Gerber Realty represented the tenant.
HOUSTON — AS 157 1488 Magnolia Circle, LP purchased an 8,000-square-foot building at 7424 FM 1488 from NewQuest Properties. Andrew Alvis of NewQuest represented the seller. Rob Whitaker, also of NewQuest Properties, represented the buyer.
TEXAS– RNR Real Estate Briefs
FARMERS BRANCH, Texas — Colliers announced the sale of a 24,924-square-foot property on Denton Drive in Farmers Branch, featuring recently renovated office and warehouse space. The buyer, Woodhill Investment Company, was represented by Jake Dreyer of KW Commercial. Jason Tangen and Barrett Gibson of Colliers represented the seller, H&B Development and Construction.
RICHARDSON, Texas — ZMR Capital acquired Chimney Hill, a 240-unit gated community on Forest Lane in the North Dallas submarket. Since entering the Dallas market in 2019, ZMR (formerly Berkshire Property Holdings) has grown its local multifamily portfolio to about 1,100 units. ZMR used three-year financing from a non-bank real estate lender, arranged by Brian Eisendrath of CBRE Capital Markets.
FARMERS BRANCH, Texas — Woodhill Investment Company purchased a 24,924-square-foot, newly renovated office and warehouse property in Farmers Branch. The asset is a 100% net-leased investment. The buyer was represented by Jake Dreyer of KW Commercial. Jason Tangen and Barrett Gibson of Colliers represented the seller, H&B Development and Construction. The industrial warehouse sits on two acres, one block from I-35, and was fully leased to Corey Construction.
AUSTIN — AMLI Residential acquired The Elizabeth, a 373-unit mid-rise multifamily community in north Austin’s “Silicon Hills” employment corridor. Constructed in 2020, the property was in the latter stage of initial lease-up. Newmark’s Patton Jones represented the seller, Streetlights Residential, a Dallas-based multifamily developer.
HUTCHINS, Texas — Cushman & Wakefield arranged a 337,913-square-foot lease for SiteOne Landscape Supply at 1200 W. Wintergreen Road in Hutchins. Adam Curran, David Eseke, Gary Collett and Jeff Eisenhart of Cushman & Wakefield represented the tenant. Cabot Properties is the landlord.
DALLAS — Austin-based Bellomy & Co. handled the sale of a five-property self-storage portfolio in the Dallas/Fort Worth area, totaling 1,736 units and 329 parking spaces across 278,840 rentable square feet. The properties are located in Aubrey, Crowley and Wylie. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller and procured the New York-based buyer, Andover Properties, operating as Storage King USA.
SAN ANTONIO — The Multifamily Group, a Dallas-based brokerage, facilitated the sale of the 400-unit Limestone Oaks & Townhomes in San Antonio. Multifamily Group’s Bryce Smith represented the seller and procured the buyer.
ARLINGTON, Texas — Bill Bledsoe and William Sanders with Henry S. Miller Brokerage represented both parties in the sale of an office building and surrounding acreage in Arlington’s Entertainment District. The seller was Bob Moore Construction, and the buyer was Texas B & B Properties, the real estate arm of The Auto Cave.
McKINNEY, Texas — Younger Partners’ Tom Grunnah and Jeremy Lillard brokered the sale of 18.22 acres near S. Hardin Boulevard in McKinney. They represented both the buyer, a commercial developer, and the seller, a private individual. A light industrial business park is planned for the site.
PLANO, Texas — Newmark announced the sale of the Legacy R&D Portfolio, a 374,085-square-foot campus-style business park on 40 acres at Tennyson Parkway and Pinecrest Drive in Plano’s Legacy submarket. Gary Carr, Chris Murphy, John Alvarado, Robert Hill and Chase Tagen of Newmark represented the seller.
FORT WORTH — TeaBevCo leased 25,692 square feet of industrial space in Railhead Business Station at 500 Railhead Road, Fort Worth, from Sun Life Assurance Company of Canada. Nick Talley of Bradford Commercial Real Estate Services represented the landlord. Todd Hawpe of Transwestern represented the tenant.
CLEBURNE, Texas — Ride N Safe leased 20,000 square feet of industrial space at 3701 Windmill Road in Cleburne from 3701 Windmill Road, LLC. Brandon Alexander and Jason Finch of Bradford Commercial Real Estate represented the tenant. Britton New of G.T. Industrial Properties Inc. represented the landlord.
DALLAS — CBRE announced that Fortress Investment Group signed a 47,850-square-foot lease at Weir’s Plaza, a mixed-use retail and office development in the Knox-Henderson neighborhood. The Weir’s Plaza development broke ground in July 2019 and was scheduled to open in November 2021. Tommy Nelson and Dennis Barnes with CBRE’s Dallas office leasing team represented the landlord, Four Rivers Capital. Howard Grufferman, Billy Vahrenkamp and Brad Balke with Colliers International, along with Jeff Ellerman and John Ellerman with CBRE, co-represented Fortress in the lease.
NATIONAL RNR Real Estate Briefs
STOCKTON, Calif. — Dalfen Industrial acquired the Pock Lane Logistics Center in Stockton. The 55,200-square-foot building, built in 1995, is fully occupied by KMM Corp.
COUNCIL BLUFFS, Iowa — Bellomy & Co. handled the sale of the three-property Cornerstone Storage Portfolio in Iowa, located northeast of the Omaha/Council Bluffs market. The portfolio includes 309 non-climate units and approximately 45,000 square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Nebraska-based seller, Cornerstone Storage, LLC.
OAKLAND, Calif. — Riaz Capital acquired Oakbrook Manor and the Palmcrest Apartments, two near-adjacent properties comprising three buildings and 200 units, for $44 million.
PHILADELPHIA — JLL Capital Markets handled the $31.5 million sale of a 305,706-square-foot warehouse at an urban last-mile location in Philadelphia. JLL marketed the property on behalf of the seller, 2121 Wheatsheaf Lane LLC. Greek Development purchased the asset, which sits on 21.25 acres at 2121 Wheatsheaf Lane near the Betsy Ross Bridge.
BELLEVUE, Wash. — Hines, Benenson Capital Partners and USAA Real Estate announced Main Street Place, a 6.75-acre mixed-use development in downtown Bellevue. The project will include approximately 1.2 million square feet of high-rise office on the north side with expansive southern views, plus 400 low-rise apartment units on the south side. The ground plane will feature about 90,000 square feet of retail and a pedestrian-oriented streetscape.
ANNAPOLIS, Md. — Transwestern Real Estate Services arranged the sale of Watergate Pointe, a waterfront apartment community comprising 608 units and 160 fixed docks on 31 acres in Annapolis. Transwestern’s Dean Sigmon, Robin Williams, Justin Shay and Michael D’Amelio represented Castle Lanterra Properties in the disposition to TPG Real Estate and The Bainbridge Companies, which purchased the asset for $154 million, or approximately $253,290 per unit.
June 12, 2021 Realty News Report. Copyright 2021.
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File: RNR Real Estate Briefs 2021
File (2): RNR Real Estate Briefs. June 12, 2021
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