HOUSTON – (Realty News Report) — Healthpeak Properties, Inc. is developing a new 116,500-square-foot, five-story Class A medical office building with an attached parking garage at 7500 Fannin St., on the campus of The Woman’s Hospital of Texas in Houston. Construction is scheduled for completion by December 2021. The building is currently 36% pre-leased, with the largest commitment from Houston Women’s Care Associates, a 14-provider practice expanding its on-campus footprint. Transwestern is handling leasing for the property.
PEARLAND – A 17,500-square-foot neighborhood lifestyle center at Pearland Parkway Marketplace is nearing completion. LSI serves as general contractor, and Danny Miller of Gulf Coast Commercial Group is overseeing leasing. The center sits on two acres at Pearland Parkway and Barry Rose Road and will serve nearby communities such as Branbury Cross, Riverstone Ranch and the Lakes at Highland Glen. The complex adjoins planned projects that include a proposed Kroger store, a Nails of America on a 3,800-square-foot corner lot and Lin Asian Café on a 2,100-square-foot end cap. Greg Stackhouse of Stack Realty represented Nails of America, while Jenny Zhang of Alphamax Realty represented Lin Asian Café.
Tents & Events, LLC has leased 4,536 square feet of industrial space at Four Seasons Business Park. Jack Gaffney and John Buckley with Finial Group represented the landlord.
Chris Ochterbeck of Moody Rambin’s Industrial and Investment Services division has been retained as the exclusive leasing agent for a retail property that once housed one of Houston’s early craft breweries. The property at 985 Wakefield Drive in the Garden Oaks neighborhood consists of two buildings on a 0.52-acre lot. The primary building includes 1,217 square feet of freestanding retail space with a restaurant and bar buildout; it was originally a neighborhood gas station and later operated as a café. The secondary building is a 1930s-era home.
Pool Porters has leased 2,100 square feet of retail space in Chambers Town Center at the intersection of Interstate 10 and TX 146 from NewQuest Properties. Austen Baldridge and Bob Conwell of NewQuest represented the landlord; Brittany Roca of Rob Roca Realty Group represented the tenant.
NAI Partners arranged the sale of a 5,030-square-foot industrial property at 10801 Brooklet Dr. in Houston on behalf of sellers Lynn and Janice Pack. Meyao, LLC was the purchaser, and NAI Partners’ Chris Caudill represented the sellers.
Urban Genesis LLC purchased a 17,400-square-foot industrial building at 1702 Nance St. in Houston. Clark Dalton with Dosch Marshall represented the buyer. NAI Partners’ Chris Caudill and Jake Wilkinson represented the seller, 125 West Crosstimbers Ltd.
THE WOODLANDS – The Howard Hughes Corporation announced the name of its new multifamily development in The Woodlands: “The Lane at Waterway.” Located within walking distance of The Woodlands Waterway, the project will feature a 7-story, 163-unit building totaling 179,338 square feet on 1.7 acres at the southeast corner of Six Pines Drive and Timberloch Place.
JustMac leased 1,100 square feet in Harper’s Preserve near Highway 242 in Conroe. Travis Waltmon of Edge Realty Partners represented JustMac, and Lane Pleason of Read King represented the landlord.
TEXAS
GARLAND – Primos Unlimited, Inc. purchased a 33,620-square-foot building at 10379 Plano Road in Garland. Ryan Wolcott and Adam Jones with Stream Realty Partners represented the buyer. Marshall Cooper of Cooper Commercial represented the seller.
DALLAS — Ameriprise Financial, a global diversified financial services company, is relocating one of its Dallas offices to The Terraces at Douglas Center, 5960 Berkshire Lane. The company has leased 10,844 square feet in the office tower and will occupy the entire penthouse floor. Mike Wyatt and Travis Boothe of Cushman & Wakefield represented Ameriprise Financial.
DALLAS — Knighthead Funding, LLC has provided Quadrant Investment Properties with $26.9 million in short-term first mortgage financing to acquire a portfolio of 12 office, industrial and flex buildings in Dallas. Quadrant, a Dallas-based real estate investment firm, plans to convert the obsolete industrial properties into single- and multi-tenant creative office buildings totaling approximately 152,000 square feet, with individual suites ranging from about 4,000 to 21,000 square feet.
DALLAS – DebtBlue, a national debt settlement firm, has signed a 30,291-square-foot lease for its new headquarters at 1125 E. Campbell in Richardson. Ryan Hoopes of Cushman & Wakefield represented the tenant, while Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Stanton Road Capital, LLC.
MISSION, Texas — Bellomy & Co. announced the sale of A+ Storage in Mission. The property includes 169 units totaling 24,100 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented both the Harlingen-based seller and the Lincoln, Nebraska-based buyer.
Arizona Tile, LLC renewed its 100,398-square-foot lease at International Commerce Park, 2701 Regent Blvd. in Irving, Texas. Blake Kendrick, Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Link Industrial Properties. Newmark Knight Frank represented the tenant.
Younger Partners’ Ben McCutchin brokered the sale of 103 acres on FM 455, east of FM 1385 in Pilot Point. McCutchin represented the buyer, Gene McCutchin. Grant Brodeur of Davidson Bogel Real Estate represented the sellers, Ron Berlin and Eric Berlin. The farmland was purchased as an investment hold.
CKS Packaging, Inc. leased 50,560 square feet at 2829 Merrell Road in Dallas from Gillis Thomas, LP. Ryan Boozer and Lena Pierce with Stream Realty Partners represented the tenant.
AUSTIN – Bellomy & Co. announced the sale of Taylor Hutto Self Storage in Taylor, roughly 33 miles from downtown Austin. The facility includes 501 climate-controlled and non-climate-controlled units, covered boat and RV spaces, and totals 60,605 square feet. Bill Bellomy and Michael Johnson represented the Plainfield, Illinois-based seller. Separately, Tesla has been reported to be evaluating land near Taylor for a potential Cybertruck factory.
NAI Partners recently arranged the sale of 5 acres to Orcid Holdings, LLC at 1115 W Anderson Lane in Austin. NAI Partners’ Todd Mahler represented the seller.
ROUND ROCK – Institutional Property Advisors (a division of Marcus & Millichap) announced the sale of Parkwood Terrace, a 144-unit multifamily property in Round Rock near Austin. The buyer was Langdon Street Capital. IPA advisors Jordan Featherston, Will Balthrope, Drew Kile, Drew Garza and Kent Myers of Marcus & Millichap represented the seller, James Pinheiro. Built in 2000, the property is located about 1.1 miles from I-35.
NATIONAL
HOPEWELL, N.J. — Lincoln Equities Group and H.I.G. Realty Partners have acquired the 1.2 million-square-foot life sciences campus formerly owned by Bristol Myers Squibb. The 433-acre Princeton West Innovation Campus, located about seven miles from Princeton, New Jersey, is being marketed to life sciences companies. Current tenants include PTC Therapeutics, which occupies more than 200,000 square feet. The campus comprises nine primary buildings supported by a central utility complex that provides wastewater management, generator-backed electricity, chilled water and steam. Onsite amenities include a full-service cafeteria, an 8,000-square-foot fitness center and a 28,000-square-foot standalone child development center.
WASHINGTON — CoStar Group, Inc. has completed its previously announced acquisition of Ten-X for $190 million in cash. CoStar’s CEO Andy Florance said the company plans to combine Ten-X’s online auction and negotiated-bid capabilities with CoStar’s existing platforms, bringing Ten-X auctions to CoStar’s and LoopNet’s broad commercial real estate audiences.
ATLANTA – Chicago-based Oak Residential Partners, LLC acquired The Marquis at Briarcliff, a 104-unit multifamily property near the Centers for Disease Control and Prevention (CDC) in the North Druid Hills submarket of Atlanta. JLL Capital Markets represented the seller, CWS Capital Partners, LLC.
June 27, 2020 Realty News Report Copyright 2020