RNR Real Estate Briefs from Realty News Report — HOUSTON — Levcor has unveiled an ambitious redevelopment plan for Post Oak Plaza, a retail and dining center at the corner of Post Oak Boulevard and San Felipe Road. New restaurant tenants announced for Post Oak Plaza include Kenny & Ziggy’s, Maragume Udon and il Bracco. Shop Companies will handle leasing for the redeveloped property.
TOMBALL, Texas — NAI Partners, the commercial real estate services division of Partners Real Estate Company, arranged the sale of 13915 Service Center Drive, a 16,000-square-foot industrial building in Tomball. Travis Land of NAI Partners represented the seller, Adkisson Group. The building is part of a five-building tilt-wall industrial park; three additional buildings, ranging from 12,000 to 26,250 square feet, remain available for sale or lease.
HOUSTON — The Havins Law Firm has leased space at 6750 West Loop South. William McCarthy of Finial Group represented the tenant.
STAFFORD, Texas — In the past month, NAI Partners leased more than 30,000 square feet of flex space at Murphy SW Business Center, 12999 Murphy Road in Stafford, on behalf of Partners Capital, the investment platform of Partners Real Estate Company. Abby Fraher of NAI Partners represented the landlord in all transactions. Her use of organized, technology-driven leasing processes enabled almost 50 prospects to be worked in the first six weeks after Partners Capital acquired Murphy SW Business Center, with more than 20 deals executed to date. She represents the Stafford properties owned by Partners Capital and managed and leased by NAI Partners.
HOUSTON — Fellows, LLC purchased 9.53 acres at Fellows Road and Del Papa Street in Houston from Minchau Hoang. Brad LyBrand of NewQuest Properties represented the seller.
RICHMOND, Texas — Bahama Bucks has leased a 1,567-square-foot space in The Commons at Harvest Green, 11135 Harlem Road. The tenant was represented by Kristen Barker of Wulfe & Co.
CONROE, Texas — Marcus & Millichap announced the sale of 27493 Hanna Road, an 18,800-square-foot industrial property in Conroe.
HOUSTON — Meraki Franchisee I purchased a 0.76-acre site containing a 1,368-square-foot former restaurant at 8405 N. Houston Rosslyn Road from SRI Real Estate Properties, LLC. Joseph Marburger, Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the buyer. Amit Mehta of Amit Mehta Inc. represented the seller.
TEXAS — RNR Real Estate Briefs
SAN ANTONIO — Weingarten Realty sold a former movie theater site at 12631 Vance Jackson Road to San Antonio-based Koontz Corporation, which plans to build a 300-unit apartment complex on the parcel. The site had been home to the Regal Fiesta movie theater.
AUSTIN — NAI Partners, the commercial real estate services arm of Partners Real Estate Company, arranged a 2,875-square-foot office lease for LK Jordan at 8140 MoPac Expressway N in Austin. John Lively and Todd Mahler of NAI Partners represented the tenant.
PLANO, Texas — CTO Realty Growth selected Vestar as asset manager for The Shops at Legacy North, a 236,000-square-foot, retail-driven mixed-use lifestyle center in Plano. Built in 2007 and situated on 12.7 acres across the Dallas North Tollway, the property offers nearly 1,000 parking spaces and is currently about 83% occupied. CTO acquired the center last month.
DALLAS — American Landmark Apartments, a growing multifamily owner-operator, acquired Olympus at Ross, a 368-unit community in Dallas. The property will be renamed Macallan at Ross. This acquisition increases American Landmark’s Dallas–Fort Worth portfolio to 21 properties. Based in Tampa, Fla., American Landmark focuses on acquiring and managing value-add multifamily assets.
FARMERS BRANCH, Texas — Crossbuck BBQ signed a 4,065-square-foot lease at Spring Valley Business Center, 4400 Spring Valley Road. Taylor Tuite and John St. Clair of Younger Partners represented the tenant. Rich Young Jr. of Rich Young Company represented the landlord.
PLANO, Texas — Tremont Realty Capital announced that its managed affiliate, RMR Mortgage Trust, provided a $27.4 million refinancing loan for 500 N. Central Expressway in Plano, a five-story, 237,000-square-foot multi-tenant office building. Campbell Roche and Jarrod McCabe of JLL in Dallas arranged the loan for MoxieBridge, the property owner.
ODESSA, Texas — Stream Capital Partners, an international sale-leaseback advisory firm, arranged the sale-leaseback of an outdoor storage industrial asset in Odessa. The tenant, LSE Crane & Transportation, a Texas-based crane rental and service company, will remain on the site. The 6.83-acre property sold to a private buyer for $120,000 above the asking price.
CARROLLTON, Texas — The Cloud Boys Bakery leased 41,245 square feet of industrial flex space in Marsh Business Park West Building 3, 1215 Marsh Lane, from NWP TX TT LLC. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord. Nathan Denton of Lee & Associates DFW represented the tenant.
DALLAS — 3DFORUS, LLC leased 7,085 square feet of industrial flex space in Park Forest Business Center, 10500 Merit Drive, from Tyler Family Real Estate Investments, LLC. Noah Dodge and Jason Finch of Bradford Commercial Real Estate Services represented the landlord. Chima Ogueri of Holt Lunsford Commercial represented the tenant.
ARLINGTON, Texas — CareReview Inc. leased 2,375 square feet of office space in Arlington Downs Tower, 2225 E. Randol Mill Blvd. Richmond Collinsworth and Erik Blais of Bradford Commercial Real Estate Services represented the tenant and landlord, respectively.
NATIONAL — RNR Real Estate Briefs
ATLANTA, Ga. — Transwestern Real Estate Services reported that its Southeast Investment Sales team brokered the sale of Noble Vines at Braselton, a 248-unit garden-style apartment community at 1500 Noble Vines Drive in Braselton, Ga. Mike McGaughy and Jon Kleinberg of Transwestern represented the sellers, Claret Communities and The Ardent Companies, in the $69 million sale to Passco Companies, LLC, equating to approximately $278,225 per unit.
CHICAGO, Ill. — Peak Properties, LLC has been retained to brand, lease, advise on construction and manage a 94-unit condominium deconversion at 1344 N. Dearborn St. in Chicago’s Gold Coast. The new owners plan to invest more than $3 million renovating both individual units and common areas.
CLEVELAND, Ohio — Provider Real Estate Partners, a Cleveland-based investor focused on medical office properties, completed acquisitions of two medical office buildings in Little River, S.C., and Las Cruces, N.M., totaling 28,899 square feet.
DENVER, Colo. — Transwestern Real Estate Services announced the sale of two multifamily properties, The Avalon at 645 Wolff St. and Estrella at 7030–7070 Pecos St. The two communities total approximately 356,000 square feet and 427 units. Tom Wanberg and John Blackshire of Transwestern represented Mountain View Capital in the sale to Oak Coast Properties for $61 million, or about $143,000 per unit.
TRUSSVILLE, Ala. — An affiliate of Select Strategies Realty purchased Homestead Village, an ALDI-anchored shopping center in Trussville developed by Blackwater Resources. JLL Capital Markets represented the seller in the transaction. The center totals roughly 107,000 square feet.
July 17, 2021 — Realty News Report. Copyright 2021.
Caption: Post Oak Plaza is being redeveloped by Levcor. Image: Courtesy Levcor
For more about Texas real estate, see the book Houston 2020: America’s Boom Town — An Extreme Close Up by Ralph Bivins. Available in book and ebook formats.
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