RNR Real Estate Briefs from Realty News Report – HOUSTON – Universal Fidelity has renewed its 14,092-square-foot office lease at 1904 W. Grand Parkway N. in Houston. Ryan Hartsell with Oxford Partners represented the tenant, while Parker Burkett of Transwestern represented the landlord, 1904 Grand Parkway North, LP.
HITCHCOCK, Texas – Cove Matrix Development is planning a 300-acre master-planned community called Gulf Breeze in Hitchcock, Texas, featuring approximately 700 homes. The site is located near FM 2004 and Blimp Base Road.
HOUSTON – The law firm of Kahana & Feld, LLP leased 1,716 square feet at 3700 Buffalo Speedway near Richmond Avenue. Melissa Gerber Brams of Gerber Realty represented the Irvine, California–based firm in securing its first Houston location. Kari Oliver of Oliver Commercial Real Estate represented the landlord, Moody National Buffalo Speedway MT, LP.
PEARLAND – Zach Leger and Jason Gaines of NAI Partners recently completed retail lease transactions in Pearland, including a 3,500-square-foot lease at 5040 Broadway for Nikki’s Country Kitchen and a 7,497-square-foot lease for Action Behavior Centers at 2941 Broadway Bend Drive.
WILLIS, Texas — Patten Properties, a recreation and residential developer and creator of Texas Grand Ranch, introduces Republic Grand Ranch – The Next Great Acreage Community. The development offers two- to eight-acre home sites for sale.
HOUSTON – Space has been leased for two 2,800-square-foot Crust Pizza restaurants: one at Kingwood Place shopping center, 30129 Rock Creek Drive, and another at Gosling Pines, 5211 FM 2920 in Spring. The co-founders of Crust Pizza are Mark Rasberry and Clint Price.
HOUSTON – Beard Papa’s, the Japanese cream puff and pastry shop, has leased a 1,200-square-foot space in The Market at Springwoods Village. The store is located at 2174 Spring Stuebner Road. Franchisee May Hsiao was represented by Eric Lestin of Cushman & Wakefield, while Lauren Heimann represented landlord Regency Centers. Houston-based Prominent Construction Group served as general contractor.
WEBSTER, Texas – The Round Top Collection leased 2,100 square feet in the Baybrook Village Shopping Center in Webster. Debbie Adams of Edge Realty Partners represented the tenant, and Elise Weatherall of Wulfe & Co. represented the landlord.
PORTER – The Multifamily Group facilitated the sale of the 136-unit Porterwood Apartments in Porter. Managing Director Bryce Smith represented the seller and procured the buyer for the transaction.
SUGAR LAND – Neal Thomson of NewQuest Properties represented a Crunch Fitness franchisee that signed a 30,240-square-foot lease for a location in a vacant Michaels store at First Colony Commons, 15385 Southwest Freeway in Sugar Land. Kristen Barker of Wulfe & Co. Inc. handles leasing for the Dallas-based landlord, TPP 306 First Colony, LLC.
HOUSTON — Doc Perrier and Jack Callaghan with Finial Group secured a 2,700-square-foot lease at 500 Century Plaza Drive for tenant Zobie Productions.
HOUSTON – Pinemont Professional Center at 6110 Pinemont Drive in Houston, a 9,685-square-foot office property, has sold. The property was listed for $1.5 million by Marcus & Millichap.
HOUSTON – Patten Title Company has acquired Houston-based Celebrity Title Company. Eric Fontanot is president of Patten Title Company and Joe Rothchild is the founder of Celebrity Title. With this acquisition, Patten Title now operates five office locations in Houston, two in Austin and one in Dallas, with plans to open two more locations before year-end.
HOUSTON – Agnes Café & Provisions has leased 2,225 square feet of restaurant space at 2132 Bissonnet Street for an all-day café and boutique grocery. Maury Bronstein and John S. Wall, Jr. of 1912 Ventures represented the tenant. Steve Ybarra of The Platform Investment Group, LLC represented the landlord, Houston Bissonnet Shepherd, LLC.
TEXAS – RNR Real Estate Briefs
SCHERTZ, Texas – Rosewood Property Company and Phelan-Bennett Development have begun construction on Four Oaks Distribution Center, a 170,000-square-foot speculative industrial development in Schertz, near San Antonio. Calvin J. Coatsworth Architects designed the facility and R.C. Page Construction is the general contractor. Trent Agnew and Charlie Strauss with JLL arranged the deal, and Veritex Community Bank is the construction lender. Roger Hill and Kyle Mueller with JLL will handle leasing for the center.
AUSTIN, Texas – StreetLights Residential, a Dallas-based design-driven developer of multifamily and mixed-use communities, has broken ground on the third phase of its newest luxury multifamily project in the Lakeline neighborhood of northwest Austin. The phase will add 377 luxury apartment homes. StreetLights Creative Studio is the project architect and is managing interior design in-house, while SLR Construction, LLC serves as general contractor.
AUSTIN – Los Angeles-based TruAmerica Multifamily and equity partner American Realty Advisors have acquired the 344-unit Ellie Apartments in Austin. Newmark represented the seller, F&B Capital, an Austin-based investment firm. The property, approximately 94% occupied, will be managed by Roscoe Property Management.
DALLAS — Summit Financial Group, Inc. has leased 7,764 square feet of top-floor office space at Two Lincoln Centre in Dallas. The 19th-floor space at 5420 Lyndon B. Johnson Freeway will serve as the company’s global headquarters. Nick Lee of NAI represented the tenant in lease negotiations.
ALLEN, Texas — JM Civil Engineering has leased 3,729 square feet of office space in Office Campus at Allen, Building 2, 1101 Central Expressway S., from owner 1101 SCE, LLC. Jared Laake and Susan Singer of Bradford Commercial Real Estate Services represented the landlord. Justin Owen of Dominus Commercial Inc. represented the tenant.
McKINNEY, Texas — Petoskey Plastics, Inc. acquired a 53,627-square-foot industrial flex project on a 15-acre tract at 2050 Couch Drive in McKinney from Nelson Gray Holdings, LLC. Noah Dodge and Michael T. Grant of Bradford Commercial Real Estate Services represented the seller. Evan Hammer of Whitebox Real Estate, LLC represented the buyer.
SAN ANTONIO — Good Shepherd Hospice leased 4,143 square feet of office space at 5811 W. University Heights Boulevard in San Antonio. Jorge Martinez and Clare Flesher of NAI Partners, along with Brandon LaSala of NAI Heartland, represented the tenant in the transaction.
SAN ANTONIO – The Multifamily Group (TMG), a Dallas-based brokerage firm, facilitated the sale of the 100-unit Glennwood Apartments on Blanco Road in San Antonio. Chris Siemasko and Bryce Smith represented the seller and procured the buyer.
SAN ANTONIO – Alegre Home Health leased office space at 4242 E. Piedras Drive in San Antonio. Jorge Martinez of NAI Partners represented the tenant in the transaction.
NATIONAL – RNR Real Estate Briefs
ATLANTA – Transwestern Development Co. will develop Cartersville Logistics Park, a 953,230-square-foot industrial park in northwest Atlanta. The four-building project is the firm’s second development in metro Atlanta. A JLL Capital Markets team led by Gregg Shapiro, Matt Casey and Ed Coco sourced joint-venture equity for Transwestern Development Co. with an institutional investor. JLL’s Royce Eldridge, who assembled six properties totaling 128 acres of industrial land, represented Transwestern in the site acquisition. Eldridge and JLL’s Stephen Bridges have been engaged to lease the park.
LAS VEGAS — Dalfen Industrial of Dallas purchased two industrial properties in Henderson, Nevada, a Las Vegas suburb. The properties total more than 263,000 square feet. Henderson Distribution Center South, built in 2019, is at 1550 Raiders Way, while Henderson Distribution Center North is located in East Henderson at 1051 Mary Crest Road.
RICHMOND, Virginia — American Real Estate Partners completed the sale of Riverside on the James, a 263,752-square-foot downtown office property in Richmond’s central business district. The buyer is Opal Holdings. The JLL Capital Markets team representing the seller was led by Chris Lingerfelt, Ryan Clutter and Stephen Conley.
CHICAGO – A local family office, represented by Bill Montana and Chris Sackley of Greystone Bel Real Estate Advisors, announced the sale of a five-property multifamily portfolio totaling 267 apartments. The portfolio includes buildings in the Chicago neighborhoods of Buena Park, Rogers Park, Ravenswood and Lincoln Square. The seller maximized value by selling the portfolio to three individual investors.
April 10, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs – HOU, DAL, AUS, SAT – and more
For more about Houston development, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.
Caption: Fans re-entered Minute Maid on April 8, 2021. Photo credit: Ralph Bivins of Realty News Report, Copyright 2021