RNR Real Estate Briefs from Realty News Report –HUMBLE, Texas — Satya has acquired 4.2 acres of undeveloped land in Balmoral, a master-planned community in Humble. Located at Woodlands Hill Drive and Balmoral Bay Drive, the parcel was purchased for future retail development. The seller, Balmoral Woodland Hill #2, LLC, was represented by Jerry Turboff of Prime Capital Corp.
BELLAIRE, Texas — James Kadlick of Rockspring Properties represented buyer Crossfit Central Houston in the purchase of a 16,000-square-foot industrial building at 1308 N. 1st Street in Bellaire. The seller was represented by Ben Sample of CRESA.
HOUSTON — Montrose Automotive Center, LLC purchased two lots at 3709 Montrose Blvd. and 918 W. Alabama St. in Houston to build a new site for its automotive service business. The buyer was represented by Richard Ember of Leverett McNeil Associates. The seller, Ellag, LLC, which operated sober living facilities on the properties for 15 years, was represented by Cotton Munson of Davis Commercial.
HOUSTON — Houston-based Midway announced that Broham Fine Soul Food & Groceries, Lick Honest Ice Creams and URBN Dental will open in the first phase of its East River development. Additional confirmed tenants for Phase I include Method Architecture and TEAL, along with a new event venue and rooftop bar from the owners of The Astorian. Construction is underway on Phase I, which is scheduled for completion in 2023.
PASADENA, Texas — Farah Investments, LLC has acquired the 80,748-square-foot Kroger Junction on 6.56 acres at 2619 Red Bluff Road, Pasadena, from 2619 Realty Holding, LLC. David Luther, Dakota Workman and Austen Baldridge of NewQuest Properties represented the seller. NewQuest’s investment sales team also represented the buyer.
HOUSTON — The Multifamily Group, a Dallas-based commercial real estate brokerage, facilitated the sale of the 126-unit Ludington Apartments. Zach Weik represented the seller and helped procure the buyer. Ludington, built in 1980, is located near Fondren Road and Ludington Drive.
HOUSTON — Hauling’ Iron Towing & Recovery has leased 56,628 square feet of industrial space at 13129-C Kuykendahl Road in Houston from SIOP Enterprises, LP. Kevin Sims of NewQuest Properties represented the landlord.
HOUSTON — Recovery has leased 1,400 square feet of retail space in The Village at Rice Boulevard and Kirby Drive in Houston from RPI Management, LLC. Josh Friedlander and Bob Conwell of NewQuest Properties represented the landlord, while Justin Titcombe of SRS Real Estate Partners represented the tenant.
HOUSTON — James Kadlick and Harrison Kane of Rockspring Properties represented the owner, 3724 Creekmont, in the sale of 23,000 square feet of newly constructed industrial space. The buyer, Eustler Technical Products, was represented by Russell Simmons of Texas Area Properties.
HOUSTON — Harrison Kane of Rockspring Properties represented the seller of 2.77 acres at 3409 Brinkman St. in the Garden Oaks area just off W. 34th Street. The sale included a 38,000-square-foot flex building occupied by an ambulance services tenant. The buyer, Braun Enterprises, plans to redevelop the site in the future.
TEXAS — RNR Real Estate Briefs from Realty News Report
SAN ANTONIO — San Antonio-based Koontz Corporation announced the sale of Palmetto Pointe Apartment Homes, a more than 300,000-square-foot, 328-unit multifamily community in San Antonio, to Florida-based American Landmark. Developed by Koontz and completed in November 2020, Palmetto Pointe sits on a 15.2-acre tract at USAA Boulevard and Fredericksburg Road. Marcus & Millichap brokered the sale on behalf of the seller.
GEORGETOWN, Texas — Titan Development announced that Texas Speed and Performance, a leading manufacturer and supplier of performance auto parts, has leased 172,428 square feet in Building I of Phase I at NorthPark35 Industrial Park in Georgetown near Austin. Once complete, the industrial park will offer more than 1.7 million square feet of space. Omar Nasser of Aquila Commercial represented the landlord.
GRAND PRAIRIE, Texas — Midtown GP, a 56-acre mixed-use development, is now under construction in Grand Prairie. The project will include retail pads and strips, restaurants, office and hotel spaces, 142 townhomes and a 366-unit Class A multifamily community with amenities such as clubhouses, resort-style pools, fitness centers and outdoor courtyards. The developer is Kalterra Capital Partners.
AUSTIN — Newmark announced the sale and financing of Enclave at Water’s Edge, a 184-unit multifamily property near The Domain and within Austin’s technology corridor. Located at 12330 Metric Boulevard, the community was 94 percent occupied at the time of sale. Newmark’s Patton Jones and Andrew Dickson represented the undisclosed seller. Newmark’s Matt Greer and Andrew Wilson arranged financing on behalf of the buyer, Wildhorn Capital.
NATIONAL — RNR Real Estate Briefs from Realty News Report
OCALA, Fla. — Transwestern Development Company and joint venture partner QuadReal Property Group will develop a 943,426-square-foot warehouse on a 64-acre parcel about 15 miles south of downtown Ocala. Trailhead Logistics Park is within driving distance of Tampa, Orlando and Jacksonville. The property is expected to be delivered in the fourth quarter of 2022.
PHOENIX, Ariz. — Edge Realty Partners, a commercial real estate firm offering brokerage, development and investment sales services, announced a new office in Phoenix to expand the company’s presence across the Southwest. The Phoenix office will be led by Nick Ault and Daniel Ortega.
ATLANTA, Ga. — B+E, a brokerage and technology platform focused on net lease real estate, announced the sale of the new Caliber Car Wash property at 1047 Windy Hill Road Southeast in Smyrna, Ga., for $4,321,410.
Nov. 1, 2021 Realty News Report Copyright 2021
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon.
Houston 2020 Ebook version
File: RNR Real Estate Briefs
RNR Real Estate Briefs are published by Realty News Report
Photo credit: Ralph Bivins for Realty News Report Copyright 2021
Caption: Downtown Houston