Texas Eye Institute has renewed its lease for a 16,000-square-foot office at 7710 Beechnut St., Houston. John Zivley of NAI Partners represented the tenant. Ace Schlameus and Jenny Seckinger of Colliers represented the landlord.
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Colliers International announced two new leases at West by Northwest Business Park in Houston, bringing the center to full occupancy. At 6210 Rothway St., Network Outfitters leased 11,673 square feet; the tenant was represented by Jay Kyle and Taylor Wright of Colliers International. At 9000 Jameel Road, a 3,505-square-foot space was leased to Arrow Exterminators, which represented itself. Walter Menuet and Judd Harrison of Colliers represented the landlord, Citadel Venture Holdings, in both transactions.
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George Montes of Cypressbrook Company represented Eshamaya Investments, LLC in the purchase of a 15,000-square-foot industrial building at 6603 Theall Road in Houston. Matt Rogers and Ryan Hartsell of Oxford Partners represented the seller, Gwen Gerlofs.
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Diana Gaines of the J. Beard Real Estate Company represented D.L. Distillery, LLC in the sale of five vacant acres at 6753 FM 2920 in Spring, Texas, to Holland’s Road, LLC. The land will be part of Geronimo Adventure Park, currently under construction and scheduled to open this summer. D.L. Lincoln Distillery produces Cotton Hollow Whiskey.
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Berkadia announced it secured acquisition financing for the 211-unit Sunswept Townhomes at 12247 Sunset Meadows in Houston. Senior Managing Director Mitch Sinberg of Berkadia’s Boca Raton office and Managing Director Brad Williamson of the Miami office arranged the loan for One Real Estate Investment (OREI), a Miami-based real estate investment and asset management firm. Berkadia originated the 10-year floating-rate loan with five years interest-only, and Freddie Mac purchased the loan.
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John Hornbuckle of Cypressbrook Company represented the seller, Fontana Investments, LLC, in the sale of an 11,300-square-foot industrial building at 15600 West Hardy Road in Houston. Enobong Abasi of Fairdale Realty represented the buyer, Abasi Real Estate Group, LLC.
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Marcus & Millichap announced the sale of Fairmont Crossing, a 6,656-square-foot retail property in Pasadena. Justin Miller and Davis Hansen of Marcus & Millichap’s Houston office had the exclusive listing to market the property for the seller.
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Patricia Chesser of Cypressbrook Company represented the landlord, Woodmark Capital, LP, in leasing 3,678 square feet of office space at 1776 Woodstead Court in The Woodlands. Kimberly DeVos of Cypressbrook Company represented the tenant.
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Greg Usher of Cypressbrook Company represented Jotron USA, Inc. in leasing 3,848 square feet of office/warehouse space at 6300 Rothway in Houston. Boone Smith of Stream Realty Partners represented the landlord, Agellan Commercial REIT U.S. L.P.
ELSEWHERE AROUND TEXAS
CBRE announced the delivery of the I-35 Logistics Center, a 131,718-square-foot speculative industrial development in Laredo, Texas. Gulf Corporation served as developer and project manager, with Tailwind Real Estate Equities of Fort Worth as equity partner. Laredo-based Park Avenue Construction was the contractor. Joshua Aguilar of CBRE in San Antonio is marketing the center for Gulf Corporation; the facility is a bulk distribution warehouse located on the IH-35 frontage road.
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BSR Real Estate Investment Trust sold three non-core properties totaling 632 apartment units as part of a portfolio enhancement and capital recycling strategy. The dispositions in Longview, Texas, generated gross proceeds of $52.5 million and included Summer Brook Apartments (built 1997), Summer Green I Apartments, and Summer Green II (both built 1984).
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Worth & Associates, a San Antonio-based commercial developer, leased 42,227 square feet in its Austin Highway Business Center to Goodwill San Antonio Business Services. Goodwill will use the space to expand call center operations, creating employment opportunities for individuals with disabilities and other barriers to employment while improving service quality for local and national clients.
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Transwestern Real Estate Services announced that KAL Freight Inc., a freight management and logistics company, signed a lease for 49,883 square feet at 600 109th St. in Arlington, Texas. The lease pushes overall occupancy to more than 90% of the building’s 543,353 square feet. John Brewer and Riley Maxwell of Transwestern handle industrial leasing for the owner.
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In an off-market sale, a North Texas investor acquired a fully leased 33,400-square-foot warehouse in south Dallas County. The 24-suite project was developed in the mid-1980s on a 1.8-acre tract at 706 E. Red Bird Lane in Duncanville. RFF Family Ltd. purchased the asset from Mazaya Investments, LLC of Dallas. Josh Meraz of Bradford Commercial Real Estate Services represented the buyer.
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Mesa West Capital provided Austin-based Wildhorn Capital with $33.5 million in short-term, first-mortgage financing to acquire a 284-unit multifamily community in Austin. The five-year floating-rate loan secured Patten East, a low-density garden-style community in the East Riverside submarket of southeast Austin. The seller was Hawthorne Residential Partners of Greensboro, N.C. Wildhorn Capital, which owns about 1,570 multifamily units primarily in Austin and San Antonio, plans interior and common-area upgrades. Financing was arranged by Newmark Knight Frank in Austin.
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The Jenkins Organization acquired Austin Oaks RV Resort, its third RV park acquisition. The firm plans substantial improvements, including 74 new RV sites, a new pool, clubhouse, dog park and upgraded common areas. The property will be rebranded as Great Escapes Austin Oaks.
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April 13, 2020 Realty News Report Copyright 2020
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