Houston area real estate briefs
Lee & Associates — Houston represented Southern Star Buske, LLC in the sale of 18 acres on Conroe Park West Drive in Conroe. Mike Spears and Trey Erwin of Lee & Associates – Houston represented the buyer.
Rhone Brittmoore Logistics, LP recently purchased the former Nabors Drilling campus at 11330 Brittmoore Park Drive. The campus includes roughly 111,530 square feet of industrial, office and manufacturing buildings on about 7.93 acres. Clay Pritchett and Zane Carman of NAI Partners represented the buyer in the transaction, while Jeff Peden, Scott Miller and David Cook of Cushman & Wakefield represented the seller, Nabors Drilling Technologies USA, Inc. NAI Partners has been retained to lease the property; available spaces range from 16,000 to 111,530 square feet.
Lee & Associates – Houston represented Williams Brothers Construction Company in the sale of 15.32 acres along Highway 90 in Houston. Frank Blackwood and Trey Erwin of Lee & Associates represented the seller. Stephen Schneidau of Cushman & Wakefield Houston represented the buyer, IDEA Public Schools.
KM Realty Investment Trust, Inc., a Houston-based REIT, acquired Morton & Fry Business Center at 19909, 19911 and 19915 Morton Road from Reliant Commercial. The acquisition is a stabilized purchase: the development is currently 100% leased. This purchase adds 36,150 square feet of gross leasable area at Morton & Fry, expanding the REIT’s portfolio to approximately 651,000 square feet across its 31 shopping centers.
Lee & Associates – Houston represented Nazar Invest, Inc. in the sale of a 7,000-square-foot industrial property at 15015 Fondren Road in Missouri City. Preston Yaggi and Cameron Hicks of Lee & Associates represented the seller, and Brett Dishman of Boyd Commercial, LLC represented the buyer, Jacob Ponniah.
PGIM Real Estate Finance has arranged a $48 million Freddie Mac unfunded forward commitment to provide permanent financing for Red Line Station, a planned 300-unit mixed-income apartment community in Houston’s Near Northside. The site is part of the proposed 43-acre Hardy Yards master-planned, mixed-use development. PGIM Real Estate Finance is the commercial mortgage finance arm of PGIM Inc., the investment management business of Prudential Financial, Inc.
Texas Health School leased 12,899 square feet at 11511 Katy Freeway in Houston. Kurt Kistler of Moody Rambin represented the building owner, while Ryan Hartsell with Oxford Partners represented the tenant during negotiations.
Marcus & Millichap announced the sale of 7200 Wynnpark Drive, a 37,736-square-foot industrial property in Houston. Adam Abushagur and Cary Latham held the exclusive listing to market the property on behalf of the private investor seller.
NAI Partners’ Office Project Leasing Group in the Landlord Services Division has been named exclusive leasing agent by Dornin Investment Group for a 375,428-square-foot, three-building Houston office portfolio. The portfolio includes two buildings in the Energy Corridor — 1250 Wood Branch and 15915 Katy Freeway (Ten Plaza West) — and 11011 Richmond Avenue in the Westchase District (Columbia Centre). The leasing team of David Bateman, Jacob Aldridge, Andy Parrish and Lesley Rice will lead marketing and leasing efforts for the portfolio.
NAI Partners also arranged a 14,965-square-foot industrial lease for SRI Energy, Inc. at 12565 W. Airport Boulevard in Houston. Jake Wilkinson and Darren O’Conor of NAI Partners represented the tenant.
NorthMarq announced the acquisition of Kinghorn, Driver, Hough & Co., a Houston-based commercial debt and equity firm. Ray Driver, a principal at KDH, will join Tony Gray and John Burke as a managing director in NorthMarq’s Houston office. Founded in 1945, KDH is one of the longest-standing independently owned commercial real estate capital firms in Texas. NorthMarq’s Houston office traces its roots back to 1949 and became part of NorthMarq in 1998.
NAI Partners facilitated an 11,750-square-foot lease for Premier Masonry at 5726 Teague Road in Houston. Nick Terry of NAI Partners represented the tenant, while John Ginder with Caldwell Companies represented the landlord.
Jim Autenreith and Sam Rayburn of Moody Rambin completed a lease of 9,940 square feet at Wallisville Industrial Park, 9159 Wallisville Road in Houston. The two represented the building owner through negotiations.
JLL Capital Markets arranged acquisition financing for a multi-housing community in the Houston-area suburb of Katy. Working exclusively for Hilltop Residential, JLL secured a four-year, floating-rate loan through a national bank. The community sits on 14.44 acres along the Grand Parkway and, completed in 2013, consists of one-, two- and three-bedroom units averaging 933 square feet.
SHEspace leased 6,000 square feet at Lower Heights District, 2728 Summer Street in Houston. Bob Cromwell and Spencer Starkey of Moody Rambin represented the building owner, while Brandi McDonald Sikes and Meredith Kelly of Limestone Commercial represented the tenant.
Summus Industries Inc. renewed a 5,730-square-foot lease at Two Sugar Creek, 77 Sugar Creek Boulevard in Sugar Land. J.W. “Jay” Wall III of Moody Rambin represented the tenant. Craig McKenna and Mathew Volz of Stream Realty Partners represented the building owner, 77 Sugar Creek DE, LLC.
Texas real estate briefs
John Zogg, managing director of Crescent Real Estate, has been named to the University of Dallas Gupta Business Hall of Fame. Zogg is also a founding member of the advisory council for the Center for Real Estate Finance at the University of Texas at Austin McCombs School of Business.
The Texas Women’s Foundation signed a long-term renewal and expansion for its headquarters at Campbell Centre in North Dallas. The organization expanded its space to 6,050 square feet on the first floor of the Class A project’s south tower at 8150 N. Central Expressway. Barbara Houlihan of JLL represented the landlord, Campbell Centre LLC.
The Richland Companies announced several new leases and renewals at S.A. West Loop II, a 170,453-square-foot retail center at 5407 Bandera Road that the company owns and manages. New and renewed tenants include Ismail Kirboga and Seymanur Kirboga, who signed a one-year lease for 1,908 square feet; Duo Yaoyong, which renewed a one-year lease for 2,300 square feet; and Ministerios Amistad Christiana, which renewed a one-year lease for 3,722 square feet.
Dallas — CBRE announced completion of Phase I of Westridge Park, a new boutique office building developed by T2V Properties LLC in the Las Colinas submarket. The three-story building was completed in December 2019 and offers 34,000 square feet of Class A office space for lease.
National real estate briefs
Newmark Knight Frank announced the sale of Aragon Holdings, LLC’s national apartment portfolio to Harbor Group International for $1.85 billion. The transaction was supported by Newmark’s Capital Markets Strategies and Multifamily Capital Markets groups, led by Henry Stimler, Bill Weber and Matt Mense. Broker Zach Springer worked with Newmark’s nationwide platform and local office teams including Mac Crowther, Brad Goff, Terrance Hunt, Brian Murphy and Scott Ramey. The portfolio includes 36 properties totaling 3,243 units across nine primary and secondary markets in eight states, with concentrations in Dallas/Fort Worth and Denver and additional holdings in Houston, San Antonio, Atlanta, Orlando, Phoenix, Salt Lake City, Albuquerque, St. Louis and Kansas City, Missouri.
Trinity Street Capital Partners originated a $20 million, high-leverage, interest-only bridge loan to refinance a CubeSmart self-storage facility in Seattle, Washington. The non-recourse bridge loan has a three-year term and a low floating interest rate tied to 30-day LIBOR.
Jan. 23, 2020 Realty News Report Copyright 2020
A BOOK for THE NEW YEAR – by Ralph Bivins, Editor of Realty News Report
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