RNR Real Estate Briefs from Realty News Report – KATY – Colliers International announced the sale of Cinco-Westheimer Parkway Plaza located on 1.6 acres at 20680 Westheimer Parkway. The 17,500-square-foot retail plaza was purchased by DAV Entrepreneurs. Colliers’ Diamond Adatia represented the buyer, while Jenny Seckinger and Ace Schlameus of Colliers International represented the seller, Hass Holdings. The center sits in the Far Katy South retail submarket, which comprises 18.2 million square feet across 867 buildings and is currently 94% occupied.
HOUSTON — National Storage Affiliates Trust acquired a 14-property, 8,517-unit self-storage portfolio. The portfolio includes six properties in and around Houston, three in the Austin MSA, two in the Minneapolis–St. Paul area, and one property each in Dallas, San Antonio and St. Louis. JLL advisors Steve Mellon, Brian Somoza, David Berglund and Blaise Tomazic represented the seller, The Jenkins Organization.
STAFFORD, Texas — Edge Capital Markets closed the sale of a newly built freestanding retail building at 12499 Southwest Freeway in Stafford, Texas, fully leased to AT&T. Chace Henke and Ryan Holliday of Edge represented the seller. The 2,500-square-foot building is part of Phase II of a 192-acre, $500 million mixed-use development that will ultimately deliver more than 350,000 square feet of retail, restaurants and entertainment, 500,000 square feet of office, multiple hotels and 2,400 apartments at full build-out.
HOUSTON — Patrinely Group, managing member of a joint venture with USAA Real Estate and CDC Houston developing CityPlace, selected JLL as the new retail leasing agent for the project. CityPlace is planned as a 60-acre mixed-use urban district in Springwoods Village near Interstate 45, the Grand Parkway and the Hardy Toll Road. JLL’s Rip Reynolds will lead leasing efforts for the development.
HOUSTON — Transwestern Real Estate Services has been engaged by Younan Properties Inc. to provide leasing services for Two Westlake, a 17-story, 454,843-square-foot office building at 580 Westlake Park Boulevard in Houston’s Energy Corridor. Michelle Wogan, Evelyn Ward and Paula Musa will represent Younan Properties in leasing the property.
HOUSTON — NAI Partners arranged a 3,525-square-foot office lease at 1010 Lamar Street in downtown Houston for McMillan Law Firm. John Zivley of NAI represented the tenant.
HOUSTON — Van Leeuwen Ice Cream signed a lease at Montrose Collective, a mixed-use project being developed by Radom Capital in the 800 block of Westheimer near Montrose Boulevard. Retail leasing for the project is managed by Shop Companies, while office space is marketed by CBRE. Van Leeuwen was represented in its lease negotiations by Jason Kastner of Dochter & Alexander Retail Advisors and Zac Hoffer of The Retail Connection.
MONTGOMERY, Texas — Construction is complete on Phase I of the Woodforest Professional Plaza at 750 Fish Creek Thoroughfare. The overall plaza will include three buildings totaling 100,000 square feet of professional and medical office space. Phase I, Woodforest Medical Plaza 1, is a two-story, 50,481-square-foot medical and professional office building developed by CMK Properties on more than four acres. Leasing is being handled by Lisa Hughes and Pamela Sprouse of J. Beard Real Estate Co.
HOUSTON — OVME, a medical aesthetic studio offering minimally invasive cosmetic services, has opened at Centre at River Oaks, 3021 Kirby Drive.
HOUSTON — Jack Gaffney and Chase Tucker with Finial Group secured a lease at Lakes of Riata, 10750 Barker Cypress Road in northwest Houston. Finial Group represented the landlord, a Finial Group entity, while tenant Tacarbon signed a long-term lease at the retail center.
TEXAS
TAYLOR, Texas — The new RCR Taylor Logistics Park offers dual rail service via Union Pacific and BNSF Railroads, according to McAlister Assets and RCR Rail Co. The 755-acre site is located in the City of Taylor in Williamson County, near Austin.
SAN ANTONIO — Partners Capital, the investment arm of NAI Partners, announced the sale of Marymont Office Park. Partners Capital originally acquired Marymont in 2017. The four-building, single-story office park totals 85,368 square feet and is located in northeast San Antonio adjacent to NE Loop 410. Partners Capital was represented by Carrie Caesar of Cushman & Wakefield; the buyer was Citadel Venture Holdings of Houston.
AUSTIN — JEM Holdings, a New York–based real estate investment company, acquired The Monroe, a new-build multifamily property with 223 units near the East Riverside Corridor. John Carr and Ben Fuller of Cushman & Wakefield represented JEM, while Patton Jones of Newmark represented the seller, Stillwater Capital of Dallas.
CORSICANA — NAI Partners’ Landlord Services Division has been awarded the property management assignment for the 1,453,615-square-foot 2200 South Business 45 industrial distribution center owned by Dart Interests. NAI Partners also leases and manages Dart Interests’ Republic Square, a 324,000-square-foot office building in Houston’s Energy Corridor.
NEW BRAUNFELS — Transwestern Real Estate Services announced the sale of 1763 Medical Way, a single-story medical office building totaling 8,055 square feet. Transwestern’s Licia Shreves and James Murry represented the seller, APZ Investments, LLC.
DALLAS — JLL Income Property Trust, the landlord at Oak Grove Plaza in Sachse, Texas, secured a 10-year lease extension with Kroger. The 65,000-square-foot grocery anchor tenant renewed its lease through 2033; the lease had been scheduled to expire in 2023.
IRVING — Sequin Court Plaza LP, a San Antonio-based investment group, acquired the 65,460-square-foot Story Business Center in the Las Colinas submarket of Irving. The seller was Americo Story, LP. Jason Finch and Michael W. Spain of Bradford Commercial Real Estate Services represented the buyer.
NATIONAL
PHOENIX, Ariz. — JLL Capital Markets completed the $103.5 million sale and arranged $80.76 million in financing for Anchor Centre, a 333,014-square-foot Class A office asset in Phoenix. The transaction is the largest multi-tenant office sale in the Phoenix market since 2019. JLL represented seller KBS and procured buyer TerraCap Management, LLC. JLL also placed the floating-rate acquisition loan through a financing subsidiary of Colony Credit Real Estate.
Jan 23, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: Cinco-Westheimer Parkway Plaza. Image Courtesy: Colliers International