RNR Real Estate Briefs from Realty News Report
HOUSTON – Realterm has acquired a 200,400-square-foot final-mile Amazon warehouse at 3031 S. Sam Houston Parkway, near Highway 288. Built in 2020, the facility sits on a 36.6-acre site. “Houston has one of the strongest industrial markets in the nation with increasing demand from e-commerce and consumer goods providers,” said Stephen Panos, senior vice president and fund manager for Realterm.
HOUSTON — Colliers announced the sublease of 27,502 square feet at Turning Basin Industrial Park, located at 2005 Turning Basin Drive. The sublessee, Reach Cooling, was represented by Mark Nicholas of Jones Lang LaSalle. Colliers’ Zack Taylor and Trey Horne represented the sublessor, John Manville Company. Turning Basin Industrial Park sits on Interstate 610, just south of Interstate 10.
HOUSTON – Reed Vestal and John Erck of Junction Commercial Real Estate represented the seller in the sale of 21.3 acres on North Houston Road. The buyer, Cypress-Fairbanks Independent School District, was represented by Keith Grothaus with Caldwell Companies. This sale, together with a neighboring 37-acre tract fronting Cypress North Houston Road, completes the disposition of a combined 58.2 acres brokered by Reed Vestal and Taylor Schmidt.
HOUSTON – The 236-unit Easy Self Storage at 11901 TX-249 in Houston has been sold, according to Marcus & Millichap.
HOUSTON — Joe Bright of NAI Partners, the commercial real estate services business of Partners Real Estate Company, arranged a 2,957-square-foot office lease for Fort Bend Dental DDS Partners Management, PA, a management company for Fort Bend Dental, at 2277 Plaza Drive.
HOUSTON — NAI Partners arranged a 3,535-square-foot office lease for Vinland Energy, LLC at 820 Gessner Road. NAI Partners’ John Zivley represented the tenant. The landlord was represented by Brad MacDougall with MetroNational.
HOUSTON — Doc Perrier and Stephanie Flores with Finial Group facilitated a lease at 5111 Milwee St. Finial Group represented FG-Gimel TX, LP, the landlord, in the lease to Glass Worx, LLC. Glass Worx supplies glass products to the Greater Texas market.
TEXAS — RNR Real Estate Briefs from Realty News Report
FORT WORTH – Colliers announced the sale of Lake Country Villas, located at Boat Club Road and Lake Country Drive. DFW Housing Partners sold the community to Progress Residential. Jim Humphries of Colliers brokered the transaction on behalf of both parties. Lake Country Villas is a build-for-rent investment asset.
SAN ANTONIO – Investors Management Group, a West Coast-based real estate investment and asset management firm, has acquired Hardy Oak, a 312-unit apartment community in San Antonio located at 23975 Hardy Oak Blvd. The gated community consists of 13 buildings constructed in 2020. Freddie Mac financing for the acquisition was secured through Charlie Mentzer at Capital One. Will Balthrope and Drew Garza of Institutional Property Advisors served as brokers.
AUSTIN — NAI Partners, the commercial real estate services business of Partners Real Estate Company, arranged the sale of 2212 S. Congress, a 2,878-square-foot retail/office building. NAI Partners’ Todd Mahler represented the seller, Grand Central Texas Development Corp. The buyer was represented by TSG National.
PLANO – Cushman & Wakefield advised Cawley Partners in the disposition of a 101,608-square-foot healthcare facility in Plano. The property, fully leased to Denver-based Eating Recovery Center, was purchased by Ventas, a senior living REIT. The three-story building at 5120 Legacy Drive was developed spec in 2016 by VanTrust Real Estate.
NATIONAL — RNR Real Estate Briefs from Realty News Report
LAS VEGAS — Wynn Design & Development, the creative division of Wynn Resorts, signed a lease for 38,800 square feet on the top floor of 1700 Pavilion, a 10-story office building under development in downtown Summerlin, according to Howard Hughes Corp.
MIAMI — Terranova Corporation Chairman Stephen Bittel announced that Terranova affiliate Gables Miracle Mile, LLC closed a $55 million refinance of its portfolio of properties along Coral Gables’ historic Miracle Mile. The refinancing paid off several existing loans and provided growth capital for future investments.
SAN DIEGO — Pathfinder Partners, a San Diego-based private equity firm specializing in multifamily real estate, sold the 140-unit Hadley Apartments in Thornton, Colorado, to an undisclosed buyer for $38.5 million.
LAS VEGAS — Avison Young brokered the $15.25 million sale of a 14.57-acre site at the southwest corner of Arby Avenue and Gagnier Boulevard in Clark County. Avison Young principals Pat Sauter, Art Carll-Tangora and Steve Nosrat of the Sauter Multifamily Team exclusively represented the seller, a Nevada-based limited liability company.
SEATTLE — Cushman & Wakefield served as exclusive advisor to Plus Capital Partners, LLC, in securing $42,630,000 to refinance Shoresmith Apartments at 1170 Republican St. in Seattle. The floating-rate financing was provided by Barings Real Estate Advisors. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer, Alex Lapidus and Meredith Donovan represented Plus Capital Partners.
RANCHO CORDOVA — Transwestern Real Estate Services announced that Shivu Srinivasan, Robert Dau, Dante Giacomini and Connor McGarty represented both parties in the sale of Park Knoll Apartments, a 160-unit multifamily community at 10680 Coloma Road. FPA Multifamily acquired the asset from an undisclosed seller for $25 million, or approximately $156,000 per unit.
ETC – RNR News Briefs
Stream Realty Partners announced several recent transactions:
- System One Holdings, LLC leased 8,400 square feet at 6905 Brasada Drive. Andrew Littlefield and Tyler Maner with Stream Realty Partners represented the landlord, Benjamin Group, LLC.
- Prestige Expeditors, LLC leased 59,825 square feet at Prologis World Houston Distribution Center 1, 15625 Vickery Drive. Matteston Hamilton and Jeremy Lumbreras with Stream Realty Partners represented the landlord, Prologis.
- Winco International leased 9,000 square feet at Park Ten Distribution Center, 1225 South Creek Drive. Garret Geaccone and Boone Smith with Stream Realty Partners represented the landlord, TIAA.
- Cosmos Wholesale, LLC leased 8,268 square feet at Post Oak Service Center, 1291 North Post Oak Road. William Carpenter and Boone Smith with Stream Realty Partners represented the landlord, Prologis.
- South Shore Holdings purchased 2231–2235 Sens Road in La Porte, Texas, from Forrest Land, LLC. Tyler Maner with Stream Realty Partners represented the buyer.
Dec. 4, 2021 Realty News Report. Copyright 2021.
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Photo credit: Ralph Bivins for Realty News Report. Copyright 2021.