Houston Real Estate Briefs (Realty News Report)
Lee & Associates – Houston represented BSR Investments Co. in the sale of a 143,332-square-foot industrial property at 9411 Alcorn Street in Houston. Mike Spears, Derek Riggleman and Robert LaCoure of Lee & Associates – Houston represented the seller. Abbas Rajabi of Mohegan Capital, LLC represented the buyer, Mohegan Alcorn, LP.
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Marble Capital, LP has leased 5,907 square feet in the Park Laureate building at 10000 Memorial Drive in Houston. Mark Russell of Newmark Knight Frank represented the tenant, and Fuller Realty Partners represented the landlord.
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Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston represented the seller, Vigavi Realty, LLC, in the sale of nine acres on FM 529 in Katy. Devin Rogers with Hrothgar, LLC represented the buyer, whose identity was not disclosed.
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St. Jude Candle Company has renewed its lease for 79,370 square feet at 4851 Homestead Road in Northway Park and simultaneously expanded into roughly 40,000 square feet at Eastpark Industrial Park, located at 4769 Eastpark Drive. JLL’s Travis Secor and Ryan Fuselier represented St. Jude, while David Munson of Boyd Commercial represented the owner of both buildings, First Industrial Realty Trust.
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John Hornbuckle of Cypressbrook Company represented landlord Nuveen Real Estate in leasing 55,826 square feet at 8575 Volta Drive. Jim Stark of CBRE represented the tenant, Neutrons Holding, Inc.
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Pomona, a Hillwood Communities development in the Highway 288 corridor in Manvel, has added Toll Brothers—one of the state’s largest homebuilders—to its roster. Toll Brothers has broken ground on two new model homes in Pomona; the models opened July 20.
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Oilfield Testing and Consulting has opened a 14,800-square-foot office and laboratory facility at Grandway West in Katy. OTC is the only independent cement and drilling-fluid testing lab in the Houston area. The new office and state-of-the-art laboratory were designed and built by Urban Companies to serve the specialized needs of the energy industry.
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Grandway West, an 85-acre joint venture between InSite Realty and Urban Companies at 2010 Grandway Drive, was the location of the OTC facility. JLL’s Jordan Raney and David Buescher represented OTC in the transaction. InSite Realty’s Rives Nolen, John Stavinoha and Steve Hazel represented Urban Companies.
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JLL secured refinancing for 1225 North Loop, an 11-story, 200,418-square-foot office building in Houston’s North Loop submarket. Working for borrower 1225 North Loop Investments Inc., JLL placed a 25-year, self-amortizing fixed-rate loan with CUNA Mutual Group. The JLL Capital Markets team was led by director Michael Johnson, with analysts Jett Lucia and Robby Derrick.
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JLL closed the sale of Sunrise Lake, a 74,612-square-foot mixed-use property in Pearland. JLL marketed the property on behalf of seller TIG Real Estate Services and procured the buyer. Sunrise Lake is located at 9307 and 9223 Broadway Street. The JLL Capital Markets team of John Indelli and Bryan Strode represented the seller.
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NAI Partners arranged the sale of a 341,252-square-foot, 14-building industrial portfolio owned by Aero Greensmor, LP at 2700 Greens Road in Houston. NAI Partners’ Joshua Lass-Sughrue, Chris Kugle and John Ferruzzo represented the seller.
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Skanska will add a new cocktail bar to Understory, the 35,000-square-foot hub and culinary market at the new Bank of America Tower downtown. Silver Lining, a concept from local restaurateurs Roveen “Ro” Abante and Florenico “Diko” Jopio III, is slated to open later this summer. Nick Hernandez, Crystal Allen and Lacee Wilke from Transwestern represented Skanska and Silver Lining in the lease transaction.
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First Industrial Realty Trust, Inc. completed two leases that bring First 290 @ Guhn Road to full occupancy. First 290, at 6913 Guhn Road in Houston, is a 126,250-square-foot bulk distribution facility with 45,990 square feet leased to Iron Mountain, an information-management services company, and 80,260 square feet leased to Black Horse Carriers, a third-party logistics provider. Matteson Hamilton and Jeremy Lumbreras with Stream Realty Partners handled leasing for First 290. Iron Mountain was represented by John Talhelm and Kevin Erck with Jones Lang LaSalle, and Black Horse Carriers was represented by Stephen Schneidau with Cushman & Wakefield.
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Lee & Associates – Houston represented HPI Holdings II, LLC in the lease of 2,841 square feet of industrial space at 16623 West Hardy Road in Houston to tenant Filtration Solutions, LLC. Mason Alsbrooks, Drew Aston and John Gazzola of Lee & Associates – Houston represented the landlord.
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Lee & Associates – Houston also represented HPI Holdings II, LLC in the lease of 6,027 square feet at 15721 West Hardy Road in Houston to tenant Juan Herrera. Mason Alsbrooks, Drew Aston and John Gazzola represented the landlord.
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Around Texas
Newmark Knight Frank announced that OVHcloud has leased 15,000 square feet at Riverside Commons in Irving, Texas, a Brookfield Property Group asset. NKF’s John Wolf represented OVHcloud. Roubaix-based OVHcloud is a major European cloud-computing provider.
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The LeClaire Group of Marcus & Millichap announced the sale of AAA Self Storage, a 65,950-net-rentable-square-foot storage facility in Bellville, Texas, roughly 30 miles from the Houston suburbs. Dave Knobler from Marcus & Millichap’s Houston office and Charles “Chico” LeClaire from Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of an Austin-based partnership seller.
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CBRE arranged financing to acquire Thrive, a garden-style student housing community in Lubbock located 2.5 miles from Texas Tech University’s academic core. The 744-bed, 264-unit mid-rise community at 210 N. Winston Ave. was completed in 2004 and recently received over $1.6 million in renovations to the clubhouse, fitness center and amenity areas. Benjamin Roelke and Ian Walker with CBRE Capital Markets’ Debt & Structured Finance team in Dallas arranged the financing for the acquisition on behalf of a new joint venture between TEXLA Housing Partners and a private equity real estate fund advised by Crow Holdings Capital.
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On behalf of RealtyLink and Oakridge Investments, CBRE announced the opening of initial retail anchors at Crossroads at Terrell, a 275,000-square-foot retail development at Interstate 20 and FM 148 in Terrell. Ross, Hobby Lobby, Five Below and Burke’s Outlet have opened, joining Film Alley, an eight-screen movie theater and entertainment complex that opened earlier this year. Andrew Lehner with CBRE is marketing the project on behalf of RealtyLink.
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NAI Partners San Antonio arranged a 19,950-square-foot industrial lease for FinishMaster, Inc. at 5202 Rittiman Road in San Antonio. Brett Lum represented the tenant. FinishMaster operates more than 210 branches nationwide in the automotive and industrial paint-refinishing sector.
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Harwood International announced a new acquisition to its Dallas portfolio. The Dallas-based firm, in partnership with Waterfall Asset Management, purchased the Citymark building in Uptown Dallas. Morgan Staub and Rob Steinwedell of Harwood International negotiated the purchase. The Class A property at 3100 McKinnon Street sits on a 3.7-acre site and includes an 11-story office tower, a four-level parking garage and a half-acre developable parcel.
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Brennan Investment Group announced the sale of 8220 Ambassador Row in Dallas. The property is 100 percent leased to Delivery Limited. Chicago-based Brennan continues to seek investment opportunities across the Texas Triangle and currently owns 64 buildings in the Texas region.
Aug. 5, 2019 Realty News Report Copyright 2019