RNR Real Estate Briefs from Realty News Report – HOUSTON – Luby’s, which is selling its assets to benefit shareholders, has completed the previously announced sale of 26 real estate properties to STORE Capital for $88 million.
CONROE, Texas – Marcel Boulevard, a new shopping, dining and office destination within the master-planned Grand Central Park community in Conroe, has signed leases with its first two tenants as construction nears completion. The new sites will introduce Voodoo Grille, an upscale casual Cajun/Creole-inspired restaurant by southern Louisiana natives Scott and Aubrey Elias, now residents of Conroe, and Perfect Round, a family-friendly sports bar featuring four golf simulation bays.
HOUSTON – Starbucks has leased a pad site at the corner of Post Oak Boulevard and Post Oak Park Drive inside Houston’s Inner Loop. Lasater Miller of The Retail Connection represented Starbucks. Kim Lenardson and Hannah Tosch of Colliers represented the property owner, Regent Properties.
KATY – Partners Capital, the investment and development platform of Partners Real Estate Company, leased 2,880 square feet to Acme Dental at Royal Montreal Plaza shopping center in Katy. The new lease raises the center’s occupancy to 82 percent, up from 75 percent. Partners Capital manages more than 1.3 million square feet of real estate and has completed in excess of $230 million in transactions.
SUGAR LAND, Texas — Riverstone Place at 18802 University Blvd., developed by Wulfe & Co., will welcome three new tenants by early spring 2022. Postal Plus Repair leased 1,200 square feet, Icebox Cryotherapy leased 1,635 square feet and Dorado Nail Bar leased 4,621 square feet. The landlord was represented by Kristen Barker of Wulfe & Co.
KATY, Texas — Brett’s BBQ leased 4,248 square feet of retail space in Boardwalk Crossing at Kingsland Boulevard and AMC Drive in Katy from Boardwalk Crossing, LLC. Bob Conwell of NewQuest Properties represented the landlord. Jeff Goldberg of Gold Key Properties represented the tenant.
HOUSTON – Belvoir Real Estate Group, LLC completed the late-August sale of a multi-tenant industrial facility at 430 E. Helms Road. The property includes a 36,000-square-foot building combining warehouse and office space. Belvoir’s Kyle Fischer represented the seller.
MANVEL, Texas — EasyJet leased retail space at Shops at Sedona Lakes near Highway 288 and Bailey in Manvel from NewQuest Properties. Travis Waltmon represented the tenant. Kevin Sims and Nick Ramsey of NewQuest represented the landlord.
KATY, Texas — B-12 Store leased retail space in Boardwalk Crossing at Kingsland Boulevard and AMC Drive from Boardwalk Crossing, LLC. Bob Conwell of NewQuest Properties represented the landlord. Brian Varvel of Avenue Property Group represented the tenant.
TEXAS — RNR Real Estate Briefs from Realty News Report
DENTON, Texas — CBRE National Partners announced the sale of Denton Crossing 3 & 4, a two-building Class A+ industrial portfolio at 900 & 920 S. Western Blvd. James Campbell Company purchased the properties from Scannell Properties. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE arranged the transaction on behalf of the seller. Both buildings were completed in 2020: Denton Crossing 3 is a 398,442-square-foot, fully leased warehouse, while Denton Crossing 4 offers 126,890 square feet of vacant warehouse space.
IRVING – Stream Realty Partners has been awarded leasing and management responsibilities for Freeport Business Center I and III and Beltline Office Center in Irving. These assets total 354,000 square feet of office space and will be overseen by Stream’s Tim Terrell and Rhett Miller.
AUSTIN – Cushman & Wakefield arranged the sale of The Plaza at Windsor Hills, a 200-unit apartment community in Austin. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, One Real Estate Investment. ComunidadPartners acquired the property through its discretionary fund focused on workforce housing across the Sunbelt.
CARROLLTON, Texas — Western Wealth Capital closed on its 106th multifamily acquisition, The Carling on Frankford Apartment Homes in Carrollton. This marks the firm’s 14th acquisition in the Dallas–Fort Worth area and its 28th multifamily purchase in Texas. The 274-unit community was built in 1983.
SOUTHLAKE, Texas – CBRE announced that Lender Compliance Technologies signed a lease for new corporate headquarters at Champion Crossing, 930 S. Kimball Avenue in Southlake. CBRE’s Noreen Mehdi Weathers represented the tenant. The landlord, Denmiss LLC, was represented by Debra Perryman of Silver Oak Commercial Realty.
ARLINGTON, Texas — Edge Capital Markets brokered the sale of the Pottery Barn Outlet at 459 E. Interstate 20 in Arlington. Micha van Marcie and Chace Henke of Edge represented the seller. Pottery Barn Outlet is a national credit tenant and a leading home furnishings retailer.
PORT ARANSAS, Texas — Continued demand in Cinnamon Shore’s newest village has prompted a property release of 40 homesites, available for the first time beginning Oct. 9.
AUSTIN – NAI Partners arranged the sale of 14425 Falcon Head Blvd., an 8,000-square-foot ambulatory surgery center in Austin. The new construction includes five Class C operating rooms. The sale set a record high price per square foot and a record low capitalization rate in the Lakeway submarket. NAI Partners’ Tyler Jaynes and Ryan McCullough represented the seller, Icarus, LLC.
SAN ANTONIO – Cadence McShane Construction Company has begun renovations at the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income housing property at 311 S. St. Mary’s Street on the San Antonio River Walk.
FORT WORTH, Texas – Custom Sleep Mattress, LLC leased a 43,909-square-foot warehouse at 900 S. Haltom Road in Fort Worth from MG Real Estate, LLC. Nick Talley of Bradford Commercial Real Estate Services represented the landlord.
ALLEN, Texas – Spice Creations Fine Indian Kitchen leased 2,800 square feet of retail space at McDermott Towne Crossing, 1328 W. McDermott Drive in Allen, from CH Retail Fund III / Allen McDermott LP. Kyle Espie of Bradford Commercial Real Estate Services represented the tenant. Jordan Prescott of Edge Realty Partners represented the landlord.
EL PASO, Texas – JMK5 Holdings, LLC acquired Sunrise Center, a 186,880-square-foot retail center on 15 acres at 8500 Dyer St., from T-Sunrise Village, Ltd. David Luther, Kelley Workman and Dakota Workman of New Quest Properties represented both buyer and seller.
AUSTIN – Cadence McShane Construction Co. broke ground on Anthology of Austin, a 128,000-square-foot ground-up assisted living and memory care facility near The Domain in north Austin.
DALLAS – US LBM, a building materials distributor, acquired Oldham Lumber Co., which serves home builders in North Texas.
NATIONAL — RNR Real Estate Briefs from Realty News Report
GREENSBORO, N.C. – Bell Partners Inc. sold 23 apartment communities for more than $1.8 billion. The firm continues to invest on behalf of Bell Value-Add Fund VII and Bell Core Fund I, purchasing assets across target markets including Seattle, San Francisco, Los Angeles, Dallas, Austin, Fort Lauderdale, Atlanta, Charlotte, Raleigh, Washington, D.C. and Boston.
ST. PAUL, Minn. – Eagle Pointe, a 216-unit garden-style community in West Saint Paul, has sold for $30.3 million. The JLL Capital Markets Investment Sales Advisory Team representing seller Timberland Partners was led by JLL’s Josh Talberg, Dan Linnell, Mox Gunderson and Adam Haydon.
LOS ANGELES — Bell Partners acquired Hanover Warner Center, a 395-unit apartment community in Los Angeles.
CARLSBAD, Calif. – Elion Partners, a Miami-based private investment firm, expanded in San Diego County with the acquisition of a 71,602-square-foot industrial property at 5803 Newton Ave. Marko Dragovic and Isaac Little of Lee & Associates, and Ryan Plummer of Newmark represented the seller, Rexford Industrial. The buyer, Elion ACQ, LLC, was represented by Greg Pieratt of Lee.
ETC. — RNR Real Estate Briefs from Realty News Report
Stream Realty Expands Occupier Business
DALLAS — Stream Realty Partners expanded its national occupier platform by launching Program Management Services. Joe Iatauro, an 18-year industry veteran, was recruited to lead the new service as Executive Managing Director.
The expanded offering aligns an occupier’s full range of business needs with their real estate, covering supply chain, business and economic incentives, development, design and construction, technology, security and loss prevention, FF&E, material handling and racking. These services are intended to support occupier growth and improve financial returns.
Under Iatauro’s leadership, the group will complement Stream’s leasing, site selection, investment sales and property management services, with a priority on the industrial sector. The team brings specialty expertise in food processing, cold storage, manufacturing and distribution facilities, with future plans to expand services to retail and office clients.
“As business becomes more sophisticated, real estate efficiencies and speed-to-market are critical to an occupier’s overall business success,” said Stream President Chris Jackson. “Our occupier clients need partners who understand their operational and supply chain requirements in addition to the real estate to provide a competitive advantage.”
Iatauro joins Stream from JLL, where he served as Senior Vice President and Business Unit Lead of the Industrial Project and Development Services Group in Atlanta, leading development of more than 20 million square feet of manufacturing, warehouse, distribution, cold storage and office space.
“With this offering, Stream will set the bar for occupier-focused business optimization and real estate strategies, raising client expectations throughout the industry,” said Iatauro. “This is an evolutionary venture for Stream and the commercial real estate industry.”
Oct. 2, 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.
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