RNR Real Estate Briefs from Realty News Report – HOUSTON — NAI Partners arranged a new 27,614-square-foot office lease for AES Drilling Fluids at 575 N. Dairy Ashford in Houston. The space will serve as the company’s corporate headquarters and include a modern laboratory. NAI Partners’ Griff Bandy and Joe Bright represented AES Drilling Fluids; the landlord was represented by CBRE.
TOMBALL, Texas — Nick Spearman of Belvoir Real Estate represented the seller of an industrial property at 11633 Spring Cypress Road in Tomball. The single-tenant facility includes 62,038 square feet of manufacturing space on five acres, with two truck wells and five cranes.
HOUSTON — Lightstone Capital’s real estate debt platform provided a $20.1 million mortgage to Performance Properties to acquire Normandy Woods, a 268-unit apartment complex in Houston. Dallas-based Performance Properties is led by principals Todd White and David McQuaid.
HOUSTON — NAI Partners recently closed the sale of 9260 Bryant St., a 35,634-square-foot industrial building in Houston. NAI’s Darren O’Conor represented the buyer, TEHO International (USA), LLC. Ryan Fuselier and David Buescher of JLL represented the seller, Bryant Street Building, Ltd.
HOUSTON — Spruce Power leased 33,749 square feet in Two Memorial City Plaza at 820 Gessner Road. The 18-story, 927,000-square-foot Class A office building is owned by MetroNational. Newmark’s Joshua Brown, John Luck, Reggie Beavan and Audrey Selber represented Spruce Power in the lease.
KATY, Texas — Vineyards, a 369-unit garden-style community in Katy, sold from Preferred Apartment Communities to Knightvest Capital. The seller was represented by the Walker & Dunlop Houston Multifamily Investment Sales Team.
BEAUMONT, Texas — Cadence McShane Construction Company announced it was selected by the City of Beaumont Housing Authority and partner Brinshore Development to build Century Heights, a 6.8-acre affordable active senior community about 10 minutes west of downtown Beaumont. The development will include 200 units for residents aged 55 and older.
HOUSTON — In early September, Belvoir Real Estate Group, LLC completed the sale of a North Houston industrial warehouse at 5400 Broom St. The 10,900-square-foot warehouse on 0.7 acres features a laydown yard, four 18-wheeler drive-in doors and a 20-ton crane. Belvoir’s Kyle Fischer brokered the sale for the seller, Pearson Road, LLC, to an undisclosed buyer.
HOUSTON — In an off-market transaction, a local private investor acquired Briar Forest Plaza, a fully leased Class A retail center in the Energy Corridor. The 11,981-square-foot center at 13346 Briar Forest Drive is shadow-anchored by LA Fitness.
SUGAR LAND — PG Golf leased space at Sugar Land Crossroads, 12520 W. Airport Blvd. JLL’s Jarret Venghaus and Jordan Raney represented PG Golf.
TEXAS — RNR Real Estate Briefs
AUSTIN, Texas — CBRE National Partners announced the sale of Harris Ridge Business Center, a Class A+ industrial park at 1100 East Howard Lane in Austin. TA Realty purchased the 387,838-square-foot, five-building asset from HPI Real Estate Services for an undisclosed price. The transaction was arranged by CBRE National Partners’ team including Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber.
SAN ANTONIO, Texas — Colliers announced the sale of the Palestra Building, a 15,300-square-foot office property at 1779 NE Loop 410. The buyer was represented by Clint Hennessey of DH Realty Partners Inc. Jenny Seckinger and Ace Schlameus of Colliers represented the seller.
PLANO, Texas — Atlas Capital Advisors, an independent real estate investment and advisory firm, represented First Foundation Bank, based in Orange County, California, in a new 3,800-square-foot lease at Preston Shepard Place, 1709 Preston Road in Plano. This will be the bank’s first retail branch in Texas. Serge Vishmid of Atlas Capital Advisors represented the bank.
AUSTIN, Texas — NAI Partners arranged a 20,647-square-foot build-to-suit industrial food manufacturing lease in Taylor, Texas for Afia, a Mediterranean food company headquartered in Austin. Afia is expected to occupy the expanded facility in early 2022. NAI Partners’ Troy Martin represented Afia; Darren Quick with Don Quick & Associates represented the landlord.
CARROLLTON, Texas — Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, represented both parties in the sale of Grapevine SkateTown at 2330 William D. Tate. The deal included a 32,989-square-foot building on 3.21 acres to a real estate investment group based in Carrollton.
MANSFIELD, Texas — Trinity Forge Inc. sold a 14-acre tract near downtown Mansfield to a local industrial developer that will build approximately 104,440 square feet of warehouse space. Josh Meraz of Bradford Commercial Real Estate Services and Michael W. Spain represented Trinity Forge in the sale. The buyer, Industrial Reserve LLC, was represented by Brant Landry of Landry Commercial Inc. Mansfield Commerce Park will be surrounded by industrial development just south of the city’s business district.
NATIONAL — RNR Real Estate Briefs
PHOENIX, Ariz. — Stream Realty Partners, a national real estate services, development and investment firm, has opened Stream Realty-Phoenix, LP. The office will be led by 19-year industry veteran Tiffany Winne, who will serve as executive managing director and partner. Winne will oversee regional growth and continue advising office tenants locally and across multiple markets.
WEST PALM BEACH, Fla. — Dalfen Industrial purchased the Turnpike Logistics Center, a newly constructed, two-building industrial park totaling 317,499 square feet that caters to e-commerce and distribution tenants.
OKLAHOMA CITY, Okla. — Blue Road Investments has started construction on a three-building, 403,000-square-foot industrial park at the corner of Pole Road and SE 89th Street in Oklahoma City.
PHOENIX, Ariz. — San Antonio-based Embrey will begin construction on Seven Oaks, a 332-unit multifamily community, later this month in Phoenix. The project is financed by the Houston office of BB&T (now Truist).
ETC. — RNR Real Estate Briefs
HOUSTON — Lee & Associates Houston announced several recent transactions:
- Lease of 3,900 square feet to MoveNation Dance Academy at 821 Frostwood Drive, Suite C.
- Sale of a 10,800-square-foot industrial building on 10 acres at 5210 Oates Road.
- Sale of a 40,500-square-foot manufacturing building on 2.86 acres at 21225 FM 529 in Cypress.
- Sale of 8.608 acres at the corner of Bellaire and Mason Road in Richmond.
- Fort Bend LC, LLC purchased 7.5073 acres at 16505 US Highway 90A in Missouri City for a 113,346-square-foot distribution center.
Colliers to Lease Katy Project
KATY, Texas — Colliers has been retained to handle retail leasing for the new Katy Boardwalk District. Colliers’ retail services team — Wade Greene, Kimberly Lenardson and Hannah Tosch — is in talks with several restaurant, bar and entertainment concepts for the lakefront destination.
“We’ve heard from a number of concepts both here in Houston and across the country,” said Greene, who also manages Colliers’ hospitality advisory teams. “We’re evaluating opportunities to identify the best fit for the project.”
An announcement of the Katy Boardwalk District’s first tenants is expected in early 2022.
Method Architecture has joined the development team to refine the mixed-use and retail site plan, enhancing the lakefront experience across the 90-acre, nature-inspired district that highlights native trees, flora and wildlife.
“The impact of COVID-19 gave us extra time to re-evaluate the site plan to ensure we’re incorporating the lakefront experience into the entire project,” said Keith Dalton of KBH Venture, co-developer of the Katy Boardwalk District.
Dalton noted the redesign will improve sight lines and accessibility to the lake for hotel guests and visitors using the public green space. A refined site plan was expected this fall.
“As a public/private partnership, we’re delighted to work with a team of professionals with the experience and vision needed to bring the boardwalk to life,” said Skip Conner, president of the Katy Development Authority.
The Katy Boardwalk District will include a 304-room hotel and conference center. Its multifamily component, Boardwalk Lofts, was scheduled to open this fall. The 169-acre development at Kingsland Boulevard and Prairie Parkway, just south of I-10, is a public/private partnership among the City of Katy, the Katy Development Authority and developers KBH Venture and Sueba USA.
Sept. 25, 2021 Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Houston 2020 Ebook version
RNR Real Estate Briefs are published by Realty News Report
Photo credit Ralph Bivins for Realty News Report Copyright 2021