RNR Real Estate Briefs from Realty News Report – HOUSTON – Mike Spears and Frank Blackwood of Lee & Associates – Houston brokered the sale of a 52,000-square-foot manufacturing building on 7.95 acres at 9110 Taub Road in Houston. Spears and Blackwood represented the buyer, Integrated Induction, Inc. The seller, Allegiance Bank, was represented by David Boyd and Wes Williams of Boyd Commercial.
HOUSTON – Lee & Associates – Houston represented Bolcof / Liberman Realty, LLC in the sale of five fully leased buildings totaling 42,000 square feet that make up the industrial park at 6315–6363 Theall Road. Clint Hankla and Justin Cole of Lee & Associates – Houston represented the buyer. The seller, LCG Lieberman Realty, LLC, was represented by Michelle Soderberg of Colliers.
FRIENDSWOOD, Texas – D’Agostino Companies is developing The Reserve at Baybrook, a 291-unit apartment community adjacent to Baybrook Mall on Houston’s southeast side. D’Agostino purchased the Baybrook land in July 2020 from Finwood Properties Co., which was managed by CDC Houston, a subsidiary of Coventry Development Corp. of New York. Chris Bergmann Jr. of JLL represented D’Agostino Companies.
HOUSTON – On behalf of Clarion Partners LLC, JLL announced a lease agreement for 22,128 square feet at One Oak Park, a 150,000-square-foot office building on Rogerdale Road in Westchase. First Continental Mortgage will occupy the fifth floor. Matt Pruitt and Christian Canion of JLL represented Clarion Partners. The tenant was represented by Adam Strauss and Cassie Crabtree of New Regional Planning. In a separate transaction, Flight Pro International leased 6,128 square feet, represented by Reggie Beavan and Kaitlyn Duffie of Newmark.
HOUSTON – Eagle Property Capital Investments of Miami acquired a 438-unit portfolio consisting of two Northwest Houston multifamily properties: Champions Centre and Champions Park. “The properties will be managed as a single community, representing value creation through operating efficiencies,” said Gerardo Mahuad, managing principal of Eagle Capital.
RICHMOND – Chicken Kitchen leased space at The Grand at Aliana shopping center near the Grand Parkway. The tenant was represented by Grant Walker and Brad Kilbride of Lee & Associates – Houston. The landlord was represented by Josh Friedlander and David Meyers of NewQuest Properties.
HUMBLE, Texas – Summer Creek Plaza, a 22,333-square-foot retail center on North Sam Houston Parkway East in Humble, changed hands, according to Marcus & Millichap.
HUMBLE, Texas – Painting with a Twist leased 1,790 square feet in the Atascocita Plaza Shopping Center at 6900 FM 1960 E in Humble. Painting with a Twist was founded in 2007 by two entrepreneurs from Louisiana. The landlord was represented by Kristen Barker of Wulfe & Co..
HOUSTON – Wan Bridge, a Texas-based developer, builder and manager of build-to-rent communities, announced the completion of 30 units and a model home in its Clearwater at Balmoral community.
HOUSTON – Satya sold its Shops at Louetta retail center to a Harris County otolaryngologist. The 15,059-square-foot center was developed in 2020 and is located at Highway 290 and Louetta Road. The transaction involved Josh Jacobs of Blue Ox Group and David Luther of NewQuest. Houston Sinus & Allergy will occupy 5,200 square feet of the center.
TEXAS – RNR Real Estate Briefs
DENTON, Texas – Square Mile Capital Management, LLC originated a $45.5 million loan secured by Village at Rayzor Ranch, a newly built multifamily complex in the Rayzor Ranch submarket of Denton. The loan to Seven Seas Holdings helped finance the acquisition of Village at Rayzor Ranch. Financing was arranged by Dustin Dulin of Jones Lang LaSalle in Dallas.
SAN ANTONIO – NAI Partners arranged a 20,333-square-foot industrial lease that included an expansion and relocation for Renewal by Andersen of Central Texas at 3360 Thousand Oaks Drive. Carlos Marquez of NAI Partners represented the tenant.
ARLINGTON, Texas – Gary Walker, president of SkyWalker Property Partners and managing principal of Hangover Opportunity Fund, acquired Vandergriff Town Center at 200 N. Mesquite St. for his personal holdings. The center totals 28,211 square feet.
WACO, Texas – Main Event, a national entertainment and bowling brand, will break ground this month on a 48,559-square-foot entertainment project in Cottonwood Creek Market near I‑35 in Waco. Austin Baldridge represented NewQuest in the transaction. Negotiations for Main Event were handled by Dawn Greiner of SRS Real Estate Partners.
DALLAS – Avid Center renewed 7,387 square feet of office space in Forest Green Office Park at 11910 Greenville Ave. The landlord, SOHO/Davis FG LLC, was represented in the direct deal by Jared Laake and Richmond Collingsworth.
MESQUITE, Texas – A 71,674-square-foot Academy Sports + Outdoors store opened at Market East Shopping Center in Mesquite, according to Fidelis, a Houston-based firm that manages more than 60 retail properties across several states.
NATIONAL RNR Real Estate Briefs
NEW YORK – Allianz Real Estate, part of PIMCO, increased its U.S. residential exposure with a $300 million investment in Upward America Venture, one of the largest private single-family rental platforms. The portfolio will be managed by LennarSFR, a newly formed subsidiary of Lennar Corp.
BOSTON – JLL Capital Markets completed the $67 million sale of a land site at 60 Guest Street in Boston. The site, fully approved for a modern life science development within the Boston Landing campus, was purchased by a partnership between Lendlease and Ivanhoé Cambridge. JLL represented the seller, NB Development Group.
FLAGSTAFF, Ariz. – Cushman & Wakefield brokered the sale of Village at Aspen Place, a 222-unit Class A mixed-use multifamily community located in Flagstaff’s premier lifestyle center. An entity formed by NNC Apartment Ventures, LLC of Orange County, Calif., acquired the property for $64.5 million. The seller was an entity formed by VanTrust Real Estate, LLC of Kansas City, Mo.
NASHVILLE – Dalfen Industrial of Dallas acquired 76 acres just east of the Nashville airport from FedEx. Plans call for a three-building, 740,000-square-foot industrial park to be developed on the site.
CHICAGO – B+E, a brokerage and technology platform focused on net-lease real estate, announced the sale of a newly constructed CIBC retail bank building at 458 E Pershing Road in Chicago for $1.9 million.
March 20, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: FRIENDSWOOD, Texas – D’Agostino Companies is building the 291-unit The Reserve at Baybrook apartments adjacent to Baybrook Mall on the southeast side of the Houston area. Rendering courtesy of D’Agostino Companies.
For more about the history of Houston development, consider the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.