Avera Construction has broken ground on a new 30,000-square-foot warehouse on a 7.2-acre site in Deer Park, less than 10 miles from the Port of Houston. The single-story, design-build metal building will include office space and a workshop for Atlas Copco Rental, LLC, the Swedish manufacturer of industrial tools and equipment.
……………………………………………………
EDGE Realty Capital Markets brokered the sale of Meadow Edge Shopping Center at 20141 Interstate 45 in Spring. EDGE brokers Burdette Huffman and Josh Jacobs represented the seller, 20141 North Freeway, LLC. Sam Affanhe of Huntington Properties represented the buyer.
……………………………………………………..
Zach Armstrong of The J. Beard Real Estate Company, LP, represented the seller in the sale of a one-acre pad site at Harmony Commons, a mixed-use commercial development at Grand Parkway 99 and Discovery Creek Boulevard in Spring. The purchaser, Terry McBurney, will develop a third location for The Republic Grille on the site. The planned 6,000-square-foot restaurant is scheduled to open in the first quarter of 2020.
………………………………………………………
NAI Partners arranged a build-to-suit lease for 9,500 square feet of flex space to develop Robinson Road Business Park in The Woodlands. NAI Partners’ Nick Terry represented the landlord. JC Sports, a toddler and youth indoor/outdoor sports organization, will occupy its own building and provide age-appropriate sports programs for children age 2 and up.
………………………………………………………
EDGE Realty Capital Markets also brokered the sale of Pine Hollow Retail Center and Wells Fargo – Pine Hollow at 5185 and 5175 W. 34th Street in Houston. Micha van Marcke and Chace Henke of EDGE represented the seller, while Mark Davis of Davis Commercial represented the buyer.
……………………………………………………….
EDGE Realty Capital Markets brokered the sale of Spring Cypress Retail Center, a 7,837-square-foot facility of corporate-credit tenants at 17814 Spring Cypress Road in Cypress. Micha van Marcke and Chace Henke of EDGE represented the seller. Kris Von Hohn of Cushman & Wakefield represented the buyer.
…………………………………………..
JLL announced that Edgen Murray Corporation has extended and expanded its lease at a northeast Houston pipe yard, adding 36 acres to the company’s existing lease at 8026 Miller Road for a total of 98 acres. The site, which includes a 150,000-square-foot industrial warehouse, is used for storage and distribution of pipes, valves, fittings, actuators and related products.
…………………………………………………..
Commercial real estate investment services firm Marcus & Millichap announced the sale of Bellaire Town Center, an 8,144-square-foot retail property at 13438 Bellaire Boulevard in Houston. Gus Lagos and Alex Wolansky of M&M’s Houston office held the exclusive listing.
……………………………………………………
CP&Y has leased 8,000 square feet in Kirkwood Tower at 11757 Katy Freeway. John Beach Jr. of Newmark Knight Frank represented the tenant. The landlord is Rosemont Kirkwood Tower Operating LLC.
……………………………………………………..
Luxury homebuilder Toll Brothers will unveil Canopy at The Groves in early 2020, an exclusive gated collection within The Groves master-planned community in Houston. The development will offer one- and two-story home plans ranging from 2,741 to 3,789 square feet on 60-foot-wide homesites.
………………………………………………….…..
AROUND TEXAS
DALLAS – CBRE announced new leasing activity at Parkland Knight, a boutique office building at Fairmount and Knight. LCM Group and Macfarlan Capital Partners took a combined 9,400 square feet, filling the building’s third floor. Jackie Marshall and Ben Davis with CBRE’s Dallas office leasing team represented the landlord.
……………………………………………
COLMESNEIL – Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston represented the buyer, Thomas & Dianne Paben, in the purchase of 435 acres on FM 256 in Colmesneil. The seller was LTP TimberQuest Fund, LP.
……………………………………………..
ALLEN – JLJ Capital partnered with BridgeInvest to provide a $45.5 million senior loan to Sovereign Properties to develop Dolce Twin Creeks, Phase II, a 366-unit multifamily project on more than 10 acres in Allen, near Dallas. Cottonwood Communities Inc. also committed up to $10 million for the project.
………………………………………………
DALLAS – David Glasscock with CBRE represented Dallas Habitat for Humanity in the sale and leaseback of its Dallas/Fort Worth headquarters and retail location, a 133,134-square-foot industrial building at 2800 N. Hampton Road in West Dallas. Habitat for Humanity sold the building as part of a strategy to strengthen its financial position under new CEO Dave Crawford.
………………………………………………
DALLAS – Crescent Real Estate LLC and J.P. Morgan Asset Management announced that with the addition of two new restaurants, the McKinney & Olive luxury tower is now fully leased in both office and retail components. Scheduled to open in 2020, the upscale Hugo’s Invitados and an all-day concept (to be announced) will bring the dining options to eight. The 20-story, 536,000-square-foot structure opened in August 2016.
………………………………………………
DALLAS – Mueller Water Products leased 26,250 square feet of industrial space from EastGroup Properties at 775 North Royal Lane near Dallas/Fort Worth Airport. Steve Trese with CBRE represented the landlord; Nick Talley with Bradford represented the tenant.
……………………………………………………………….
DALLAS – Mid-American Supply Corporation renewed its 45,623-square-foot industrial lease at 11550–11570 Hillguard Road in Dallas. Trevor Atkins and John Hendricks with CBRE represented the landlord, GLP, and Mid-American Supply was represented by Tucker Cason with Mercer Company.
……………………………………………
SAN ANTONIO – JLL announced the sale of 800 Dolorosa in downtown San Antonio. The 51,508-square-foot office building at Dolorosa and Santa Rosa was listed by JLL’s Chuck King and Ben Jordan on behalf of the seller, GTM Washington Square LTD. The property was acquired by 800 Painful LP, a Weston urban entity. The sale includes the office building on a 1.96-acre site and the adjacent 174-space surface parking lot.
………………………………………………..
PLANO – CBRE announced that its client, Spaces, a global coworking provider, will add four new locations totaling 173,395 square feet of coworking space in the Dallas–Fort Worth area over the next six months. The first location at Legacy Central in east Plano is open, with three additional centers planned at the Shops at Legacy and West Plano Village in Plano, and The Epic in Deep Ellum. Spaces currently operates locations in Uptown Dallas and Southlake. CBRE’s Baron Aldrine, Steve Rigby, Mike Cleary, Mike Kay and Pete Danna represented Spaces in site selection and lease negotiations.
………………………………………………………
AROUND THE NATION: Miami Spotlight
JLL arranged a $300 million construction loan for the development of 830 Brickell, a 1.03 million-square-foot, 56-story tower that includes nearly 615,000 square feet of rentable space in Brickell, Miami’s financial district. JLL represented a joint-venture developer between OKO Group and Cain International. The JLL Capital Markets team included Scott Aiese, Scott Wadler, Jesse Wright and Alex Staikos.
…………………………………………..
Atlantic | Pacific Real Estate Group and Blue Arch Advisors announced the closing of their co-sponsored fund, Blue Atlantic Partners III, which will invest in existing multifamily communities. The fund will target affluent suburbs of major cities across the Southeast and Southwest.
…………………………………………………..
Pearlmark, the Chicago-based investment firm, closed on a $44.65 million preferred equity investment for the development of Atlantic Crossing in Delray Beach, Florida. The project will include 261 luxury apartment units, 91,000 square feet of commercial office and retail space, and 444 structured parking spaces. Bellwether Enterprise represented the borrower, and Mark Witt of Pearlmark arranged the transaction.
Aug. 25, 2019 Realty News Report Copyright 2019
Read the new book by Ralph Bivins, editor of Realty News Report
Houston 2020: America’s Boom Town – An Extreme Close Up
Available on Amazon