RNR Real Estate Briefs from Realty News Report –HOUSTON — Colliers announced that Sambrooks Management Company has leased a 4,852-square-foot retail space at 3201 Allen Parkway in Houston. The landlord is Radom Capital. Wade Greene and Hannah Tosch of Colliers represented the tenant, which will open a restaurant.
HOUSTON — The Ion, the city’s collaborative innovation complex, announced the official opening of “Common Desk – The Ion” on Aug. 16. The flexible workspace and amenities provider will serve a wide range of professionals, from remote workers and small businesses to fast-growing companies and established enterprises. Occupying the full second floor on Main Street in Midtown, Common Desk – The Ion offers 58,400 square feet of adaptable workspace designed for modern needs.
TOMBALL, Texas — Belvoir Real Estate Group, LLC completed the sale of an investment-grade industrial property at 23540 Coons Road in Tomball. The property, sold by — and concurrently leased back to — Tiva Technologies includes a 32,625-square-foot metal manufacturing facility, 5,000 square feet of office space, a seven-tool machine shop and five- and 10-ton cranes. Sitting on two acres, the site allows room for future expansion. Belvoir’s Nick Spearman represented seller Tiva Technologies.
HOUSTON — Agellan Commercial Real Estate Investment Trust has selected the Landlord Services Division of NAI Partners as exclusive property manager for its 12-building, 1.5 million-square-foot Houston commercial portfolio. Chris Bosler and Jennifer Gourlay of NAI Partners’ Landlord Services Property Services group will lead day-to-day management, while Travis Land, Andy Parrish and Lesley Rice from NAI Partners will oversee project leasing for the portfolio.
HOUSTON — Granite Real Estate Investment Trust and partner NorthPoint Development have signed a build-to-suit lease with a leading e-commerce retailer for a 690,000-square-foot distribution center at Houston Development NorthPoint 90. The facility, featuring 40-foot clear heights, is the second phase of a multi-building logistics campus, joining an initial 700,000-square-foot building already under construction. The new distribution center has an initial lease term of 10.9 years and the project is scheduled for completion in the third quarter of 2022.
HOUSTON — Square Mile Capital Management originated a loan secured by Standard in the Heights, a 301-unit multifamily property in Houston. The financing replaces the project’s construction loan and was made to Ojala Partners, marking Square Mile Capital’s first transaction with the Texas-based development firm. The transaction was brokered by Cameron Cureton and Steve Heldenfels of JLL’s Houston and Dallas offices.
HOUSTON — Southland Fence & Supply leased 10,130 square feet of warehouse space at 13645 Reeveston Road. Doc Perrier with Finial Group represented the tenant.
HOUSTON — An existing RV park at the northeast corner of Almeda Genoa Road and Clearwood Drive will be redeveloped to include two freestanding speculative retail buildings, each about 9,000 square feet, while preserving the current RV park. The 3.5-acre site was sold by Wejeca Limited Partnership to Sugar Creek Square I, Ltd. Shaw Commercial Properties represented the seller and Dreams Come True Realty represented the buyer.
HOUSTON — SpeedPro North Houston, featured on Lifetime’s “Married at First Sight,” renewed a lease at 15800 W. Hardy Road, Suite 560. Jason Gibbons and Doc Perrier with Finial Group represented the tenant.
PEARLAND — Eight Turn Crepe leased 1,650 square feet at Shadow Creek Ranch Town Center, located at Highway 288 and Broadway/518 in Pearland. The landlord was represented by Brandon Schawe of Edens, and the tenant was represented by Wes Miller of Wulfe & Co.
TEXAS– RNR Real Estate Briefs
IRVING — Dominus Commercial partnered with Convergent Capital Partners to acquire the 22-story office tower at 600 East Las Colinas, a 512,269-square-foot building in the Las Colinas Urban Center. Newmark’s Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen represented the seller. Currently about 77 percent leased, the property includes the headquarters of JPI Companies.
SAN ANTONIO — NAI Partners arranged a 3,594-square-foot retail lease at Stone Ridge Market, an H-E-B–anchored center at 20821 Highway 281. NAI Partners’ Joe DeCola represented the landlord, InvenTrust. The tenant, Hyatt Nails, was represented by Marcus Schaffer of Fulcrum Property Group.
CIBOLO, Texas — NAI Partners, the commercial real estate services business of Partners Real Estate Company, arranged the purchase of 167 acres on Weil Road in Cibolo for SA Tomahawk, LP, near San Antonio. NAI Partners’ Brett Lum represented the buyer, while the seller was represented by J.D. Boggus.
ARP, Texas — Developers of High Hill Farm Resort and Spa in East Texas announced plans for a new planned community of vacation homes on 85 acres adjacent to High Hill Farm at 12626 County Road 217 in Arp. Founder and High Hill Development principal Jason Romano described the project as “a unique luxury housing development based on the principles of new urbanism.”
NATIONAL– RNR Real Estate Briefs
ATLANTA — Portman Residential, a development company affiliated with Atlanta-based Portman Holdings, together with National Real Estate Advisors, LLC, has broken ground on 1000 Spring, a multifamily project in Midtown Atlanta. The development will include 370 residential units and approximately 11,000 square feet of retail space.
SEATTLE — Cushman & Wakefield served as exclusive advisor to Gemdale USA Corporation in securing $113 million of construction financing for Skyglass Tower, a 29-story multifamily development at 222 Dexter Ave. North. The loan was provided by AIG. A Cushman & Wakefield Equity, Debt & Structured Finance team including Dave Karson, Chris Moyer and Keith Padien represented the borrower.
FOUNTAIN VALLEY, Calif. — Paragon Commercial Group, LLC and Canyon Partners Real Estate, LLC announced the acquisition of Village Center, a 92,386-square-foot multi-tenant retail shopping center in Orange County, California, for $14.8 million.
ETC — RNR Real Estate Briefs
Helen Mendiola Banks, chair of The TICI Group of Companies, hosted the first annual Texas Gulf Coast Corporate Event for Stealth Realty Advisors and their strategic alliance partners at the Lakewood Yacht Club on Clear Lake south of Houston on Aug. 11 and 12. Attendees included partners from Houston, Dallas, Baton Rouge and New Orleans. Stealth Realty Advisors, LLC, a member of The TICI Group of Companies, is a leader in national healthcare real estate, based in Houston with 22 strategic partners across 19 states. Key speakers — both virtual and in-person — from economic development, healthcare REITs, private equity firms and investment banks addressed current and emerging trends in medical office buildings, hospitals and life science properties. The TICI Group is celebrating its centennial this year; Banks is the third generation of her family to lead the firm. Founded by her grandmother, Lucretia Mendiola, as a family real estate and housing company in Houston in 1921, it transitioned into a third-party advisory and capital markets firm representing health systems and large physician groups in 2010.
Aug. 28, 2021 Realty News Report Copyright 2021
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available in ebook and print.
File: RNR Real Estate Briefs
Photo: 600 East Las Colinas in Irving, Texas. Image Source: Newmark