RNR Real Estate Briefs from Realty News Report – HOUSTON — NAI Partners, the commercial real estate services division of Partners Real Estate Company, arranged a lease for Bowen, Miclette & Britt, which will relocate its headquarters from 1111 N. Loop West to 2800 N. Loop West, occupying 35,926 square feet. Jon Silberman of NAI Partners represented the tenant, an insurance agency. Brian Strait of Lincoln Property represented the landlord, Hertz Investment Group.
ROSENBERG — Lee & Associates – Houston represented CCT Sparkle Family Limited Partnership in the acquisition of a 91,814-square-foot manufacturing building on nine acres at 1615 Spur 529 in Rosenberg. Taylor Schmidt of Lee & Associates – Houston represented the buyer. Joseph Smith and Boomer White of CBRE represented the seller.
HUMBLE — Lee & Associates – Houston represented 6750 Bender Road, LTD and Equity Resource Partners III in the sale of an 86,122-square-foot manufacturing building on 30.7 acres at 6750 Bender Road in Humble. Mike Spears and Mason Alsbrooks of Lee & Associates – Houston represented the seller. C.E. “Trey” Erwin III of Lee & Associates represented the buyer.
HOUSTON — NAI Partners arranged the sale of 5959 S Sam Houston Parkway E, a 16,000-square-foot industrial building in Houston. NAI Partners’ industrial brokers Jake Wilkinson and Chris Caudill represented the seller, 5959 S Sam Houston Parkway E, LLC.
HOUSTON — Dallas-based Civitas Capital Group acquired Territory at Greenhouse, a 288-unit apartment complex in West Houston. The seller was Mayde Creek Apartments, LLC. Marcus & Millichap Capital Corporation arranged buyer financing. Rootvik Patel serves as investments director for Civitas.
HOUSTON — Elite Dermatology signed a lease for 3,800 square feet at Kirby Oaks Shopping Center, 2569 Kirby Drive. Preston Cunningham of Cunningham Ventures represented the tenant; Elise Weatherall of Wulfe & Co. represented the landlord.
RICHMOND — Pacific Dental leased 3,150 square feet of retail space in Richmond Town Plaza at FM 762 and TX 59/69 from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest represented the landlord. Karla Smith of SRS Real Estate Partners represented the tenant.
HOUSTON — NorthMarq’s Warren Hitchcock arranged a $32 million refinance for Gessner Apartments, a 500-unit, Class C garden-style multifamily property in southwest Houston. The financing features a seven-year term with two years of interest-only payments followed by a 25-year amortization schedule. NorthMarq structured the large cash-out, fixed-rate loan at a 3.75% interest rate.
HOUSTON — Greg Usher of Cypressbrook Company represented Carlton Strategic Staffing, Inc. in a lease renewal for 2,356 square feet of office space at 12621 Featherwood. Courtney Buckout of Madison Marquette represented the landlord, 12621 Featherwood, LLC.
HOUSTON — NAI Partners arranged a seven-acre land lease for ATCO Energy on Aldine Bender Road. Jake Wilkinson of NAI Partners represented the tenant.
NEW CANEY — Lee & Associates – Houston represented Williams Brothers Construction Co. in the sale of 22.2 acres on Brook Forest Road. Frank Blackwood of Lee & Associates – Houston represented the seller.
HOUSTON — George Montes of Cypressbrook Company represented landlord Kundan Greenwood, LP in leasing 4,000 square feet of warehouse space at 16721 Hollister Street, Building 6. The tenant is Saigon Billiards.
KATY — Kizuki Ramen & Izakaya leased 2,467 square feet of retail space at Shops at Katy Grand, located at Interstate 10 and Grand Parkway/TX 99, from NewQuest Properties. Heather Nguyen and Rebecca Le of NewQuest represented the landlord. Naoyuki Kondo of NewQuest represented the tenant.
HOUSTON — The Shoppes at Boulder Creek, at Beltway 8 and Pearland Parkway, signed a lease for 4,113 square feet of retail space. Patrick Keegan of NAI Partners represented the tenant. Matt McKinnerney and Lane Pleason represented the landlord, Read King Commercial Real Estate.
HOUSTON — Pacific Oak Capital Advisors, LLC acquired a portfolio of 42 single-family homes in several Houston-area suburbs for $6.45 million, averaging about $153,000 per property. The portfolio generates average monthly rents of just over $1,300. Most homes are located southeast and southwest of Houston in cities such as Baytown, Missouri City, Pasadena and Texas City. Pacific Oak and its affiliates now own and manage approximately 1,850 houses.
TEXAS – RNR Real Estate Briefs
IRVING — CBRE National Partners announced the sale of Trammell Crow at Passport Park, a four-building business park totaling 2,050,474 square feet of Class A+ industrial space under construction in Irving. CBRE National Partners’ team represented developers Trammell Crow Company and CBRE Global Investors. Realty Income Corp. was the buyer.
SAN ANTONIO — NAI Partners arranged three leases for AeroCare Holdings, LLC, totaling more than 12,000 square feet across three Texas markets: 4,032 square feet in Pasadena, 3,000 square feet in Edinburg and 5,000 square feet in Waxahachie. Jorge Martinez and Clare Flesher of NAI Partners represented the tenant.
IRVING — Transwestern Real Estate Services announced that Multiview, a national B2B marketing agency, renewed its 82,093-square-foot headquarters lease at One Panorama Center, 7701 Las Colinas Ridge. Nathan Durham of Transwestern represented the building owner, Regent Properties. Robert Blount and Scott Hage of JLL represented Multiview.
SAN ANTONIO — Koontz Corp., led by Bart Koontz, purchased land to develop Westport Industrial Park, a 35-acre industrial project near South Callaghan Road and Highway 151. The site was acquired July 26, 2021, from three sellers; two were represented by Harry Leeper of Leeper Commercial Real Estate Brokerage and one was represented by Glen Boehm of The Boehm Team/Keller Williams Commercial Real Estate. Loren Gulley, Koontz’s in-house broker, represented Koontz Corp.
IRVING — Bellomy & Co. announced the sale of a CubeSmart self storage facility in Irving with 609 units totaling 66,698 square feet. The property was 97% occupied at closing. Bill Bellomy and Michael Johnson of Bellomy & Co. represented seller 3450 Willow Creek, LLC, and procured the New York-based buyer, Andover Properties.
NEW BRAUNFELS — Marcus & Millichap managed the sale of Village at Creekside, a 14,674-square-foot retail property listed at $4.3 million.
KILLEEN — The Multifamily Group, a Dallas-based commercial real estate brokerage, handled the sale of the 178-unit Century Oaks Apartments. Paul Yazbeck represented the seller and Zach Weik procured the buyer.
FORT WORTH — Goodwill Industries of Fort Worth purchased Airport Freeway Plaza, a 32,256-square-foot office complex on 2.28 acres at 4200–4304 Airport Freeway, from Lakeland West Capital 37, LLC. Erik Blais of Bradford Commercial Real Estate Services represented the seller. Sandra Chapman of Quine & Associates represented the buyer.
DALLAS — Westmoreland 2020 Ltd. purchased Westmoreland Station, a 17,150-square-foot retail center on 7.24 acres at 2700 Westmoreland Road, from NewQuest Properties. Meredith McLeod-Cobb of NewQuest represented the seller. Michael McLeod-Cobb of McLeod Sears represented the buyer.
DALLAS — JLL closed the sale and arranged acquisition financing for a six-property shallow-bay industrial portfolio totaling 289,225 square feet across the Dallas–Fort Worth metro area. JLL represented and marketed the portfolio on behalf of seller CanTex Capital. The Bendetti Company acquired the assets and engaged JLL Capital Markets to source acquisition financing.
NATIONAL – RNR Real Estate Briefs
MINNEAPOLIS — Transwestern Real Estate Services brokered the sale of a three-building industrial portfolio totaling 474,669 square feet in Plymouth, Minnesota. Transwestern’s Mike Salmen, Alex Baron, Frank Richie and Harrison Wagenseil, together with Ten-X Commercial, facilitated the $22.3 million sale to The Meritex Co.
MONTGOMERY, Ala. — Odin Properties, led by Phillip Balderston, purchased the 432-unit Ravenwood Apartments in Montgomery. The seller was Blue Stream Realty Group. Phil Goldstein and Steven Vegh of Westwood Realty Associates handled the sale.
LAS VEGAS — VICI Properties agreed to acquire MGM Growth Properties for $17.2 billion. Kramer Levin represented VICI with a team including Todd Lenson, Jordan Rosenbaum, Tzvi Rokeach, James Godman and Nathalia Bernardo. VICI’s portfolio includes numerous gaming facilities and hospitality assets; MGM owns resorts in Las Vegas and other markets.
Aug 7, 2021 Realty News Report Copyright 2021
Photo: Downtown Houston By Ralph Bivins, Copyright 2021. Realty News Report – RNR Real Estate Briefs
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File: RNR Real Estate Briefs 8-7-21