RNR Real Estate Briefs from Realty News Report – HOUSTON — NAI Partners announced it represented Ring Energy, Inc. in relocating its headquarters from Midland, Texas, to a 16,000-square-foot space at 1725 Hughes Landing Blvd. in The Woodlands. NAI Partners’ Charlie Neuhaus and Harry Holmes from the firm’s Office Tenant Rep Group represented Ring Energy. The sublandlord was represented by Jerrod McQuain of JLL.
HOUSTON — Colliers International announced two new leases at the Cypress Preserve Logistics Center, located at 22203 and 22003 Cypress Slough Road in Houston. Source Logistics Houston will occupy 157,805 square feet in Building 2 (22003); the tenant was represented by Trace Elrod of Newmark. Miner Material Handling leased Building 3 (22203), a 16,500-square-foot unit, with representation by Bill Rudolf and Kyle Golding of CBRE. Walker Barnett and Ryan Byrd of Colliers International represented developer and landlord Davis Commercial Development. Cypress Preserve Logistics Center is a Class A industrial park developed by Davis Commercial Development.
HOUSTON — Blendin Coffee Club opened its first Houston inner-loop location at 3201 Allen Parkway. The light-filled, renovated 1930-vintage building drew coffee fans and local visitors eager to support the nationally recognized brand. The remodel was completed by Houston development firm Radom Capital.
HOUSTON — John Hornbuckle and Kyle Whieldon of Cypressbrook Company represented tenant SMIT International in leasing 30,940 square feet of office/industrial space at 15402 West Vantage Parkway. The landlord, Intercontinental Partners, Ltd., was represented by Mike Nilsen of Tarantino Properties.
HOUSTON — NAI Partners arranged a 19,200-square-foot industrial lease for CaDaAs Re-Distribution Center Corp. at 7818 Kempwood Drive. NAI Partners’ Jake Wilkinson represented the tenant, which distributes food-grade containers.
HOUSTON — Kimberly DeVos of Cypressbrook Company represented tenant Isaac White Agency in leasing 1,500 square feet of office space at Heritage Place, 21123 Eva St., Montgomery, Texas. The landlord, Heritage Place, Ltd., was represented by Barkley Dominey with ProMed Realty.
HOUSTON — Edge Capital Markets brokered the sale of Chasewood Corner, a newly constructed 6,413-square-foot retail center at 19610 State Highway 249. Chace Henke and Micha van Marcke of Edge represented the seller. The center is fully leased to a mix of service-oriented retail and medical tenants.
HOUSTON — Sam Giammalva of Finial Group secured a 2,600-square-foot office lease at 19929 Westfield Parkway in west Houston for Destiny International Missions. Finial Group represented the tenant.
HOUSTON — The Harris County Housing Authority, Harris County Community Services Department, Harris County Precinct Two Commissioner Adrian Garcia, the Texas General Land Office and development partner LDG Development recently broke ground on The Hollows, a multifamily development replacing housing lost during Hurricane Harvey. The $39.35 million project will create 192 apartment homes in Channelview. Financing includes Harris County’s Community Development Block Grant – Disaster Recovery funds, construction and permanent financing from Citi Community Capital, and tax credit equity from Hunt Capital Partners.
HOUSTON — Northeast View LLC purchased a 15,059-square-foot retail center on 1.49 acres at 27230 TX 290 in Cypress from 290 Louetta Project Ltd. David Luther of NewQuest Properties represented the buyer; Joshua Jacobs of Blue Ox Group represented the seller.
HOUSTON — SC Houston RE LLC purchased 5.3 acres at 8205 W. Sam Houston Parkway S from CREDTX LLC/KPCC LLC. Austen Baldridge and Andrew Alvis of NewQuest Properties represented the seller in the direct sale.
ROSENBERG — Coco Bella Hair & Beauty leased 8,180 square feet of retail space in Brazos Town Center Phase II at the intersection of Interstate 69/US 59 and FM 762/Reading Road. The landlord was represented by Bob Conwell and Austen Baldridge of NewQuest Properties; the tenant was represented by Joanna Temple Johnston of Temple Commercial Realty.
THE WOODLANDS — Rayford Restaurants renewed its 7,453-square-foot retail lease at Picasso Village, 314 Sawdust. Scott Lewis and Noel Flagg of Newmark represented the landlord, Watumull Woodlands I, LLC.
TEXAS — RNR Real Estate Briefs
FORT WORTH — Civitas Senior Living, a senior living management company, and Journey Capital, a senior housing developer, broke ground on Harvest of Aledo Senior Living. The new 68,000-square-foot community on 7.5 acres will include 20 independent living villas, 67 assisted living residences and 24 memory care units.
ALLEN — Developer JaRyCo will create 102,000 square feet of Class A office space in Phase 1 of its mixed-use project, The Farm in Allen, at the southeast corner of Sam Rayburn Tollway and Alma Drive. The office building, FarmWORK One, is a three-story structure adjacent to The Farm’s Central District near dining, retail, entertainment, a hotel and West Lake Park. Construction is slated to begin once infrastructure work is complete, with targeted completion in summer 2022.
PLANO — Scott Axelrod, vice president in the Industrial Division of Henry S. Miller Brokerage, negotiated the sale of a single-story, 2,474-square-foot office building and one acre at 825 18th St. The buyers were private investors from Allen, Texas; the seller was Benoit Properties, LLC of Plano. The building dates to 1987.
DALLAS — Trez Capital provided an $8.7 million acquisition and development loan for Provident Realty Advisors’ new Debbie Lane Flats project, a 331-unit multifamily development in south Arlington.
Newmark participated in several Texas transactions:
- Ed Tucker Distributor Inc. extended a 257,500-square-foot industrial lease at Alliance Gateway 14, 4900 Alliance Gateway in Fort Worth. Newmark’s Louis Pascuzzi, Jim Cooksey, Trace Elrod, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, David Creiner, Brad Mason and Jack Brewer represented the tenant. Hillwood Realty Services represented the landlord, AT Industrial Owner 3 Holdco, LP.
- Cargoquin, Inc. secured a new 118,842-square-foot office sublease at 810 Nafta Blvd. in Laredo. Newmark’s Matthew Boltz, Trace Elrod, Garrett Gibbons Jr., Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Jack Brewer and Chris Mathis represented the sublandlord, Source Logistics Laredo, LLC. Forum CRE, LLC represented the subtenant.
- Splunk, Inc. signed an 83,774-square-foot office lease at Lincoln Legacy One, 6860 N. Dallas Parkway in Plano. Armand Triano Jr., John Wolf and Jim Graham represented the tenant; Cushman & Wakefield represented the landlord, IPXI Legacy Investors, LLC.
NATIONAL — RNR Real Estate Briefs
TURLOCK, Calif. — The Mogharebi Group completed the sale of Arbor Manor Senior Cottage Homes, a 49-unit senior community at 140 West Minnesota Ave. The property sold for $7.2 million, a record price of approximately $147,000 per unit.
NEWPORT BEACH, Calif. — KBS, a national investor in premier commercial real estate, announced it signed just over two million square feet of cumulative lease transactions during the COVID-19 pandemic. These deals include new leases, renewals and expansions across the firm’s $8 billion office portfolio.
ROSEMONT, Ill. — Broker-owned commercial real estate firm Lee & Associates announced four industrial lease transactions totaling 178,978 square feet in the O’Hare market:
- Chris Nelson, Jeff Janda and Michael Plumb of Lee & Associates of Illinois represented owner Prologis on a 92,000-square-foot lease at 491 Supreme Drive, Bensenville. David Haigh of NAI Hiffman represented tenant Expo Lanka USA LLC.
- Chris Nelson with associate Calvin Gunn represented tenant Hoson Logistics on a 47,379-square-foot lease at 472 Thomas Drive in Bensenville. Sam Durkin of JLL represented owner Link Logistics Real Estate.
- Brad Simousek with Michael Plumb represented the owner of 1049 Industrial Drive in Bensenville on a 30,226-square-foot lease to American Distributors.
- Brad Simousek also represented tenant Dental Health Products on a 9,373-square-foot lease at 1371 N. Wood Dale Road in Wood Dale. The building is owned by Hamilton Partners.
CHARLOTTE, N.C. — Miami-based Atlantic Pacific Companies (A|P) acquired the 240-unit Preserve at Mountain Island Lake in Charlotte. The property is the sixth acquisition by A|P’s third private equity fund, Blue Atlantic Partners Fund III, marking the firm’s entry into the Charlotte market and an expanded presence in North Carolina.
ETC. — RNR Real Estate Briefs
HOUSTON — Asset Living, a Houston-based property manager, acquired Alpha Barnes Real Estate Services, a Dallas-based property management firm focused on multifamily and affordable housing, including Section 8, LIHTC, HUD-financed and senior communities. Alpha Barnes’ principals have been active in real estate since the mid-1970s. The firm operates additional offices in San Antonio and Austin and employs more than 900 people across Texas.
HOUSTON — Post Oak Central, a Philip Johnson–designed LEED Gold office campus in Houston’s Uptown district, was re-designated as a top performer in operations and management by the Building Owners and Managers Association International (BOMA) through its 360 Performance Program. The 17-acre complex includes three 24-story Class A office towers totaling 1.2 million square feet and 90,000 square feet of pedestrian-oriented retail, along with significant green space and a high walk score. Post Oak Central is operated by Parkway Property Investments, LLC.
HOUSTON — Brookfield Properties unveiled the completed renovations to the Houston Center campus after a two-year redevelopment of the property. Global architecture and design firm Gensler served as project architect and Clark Condon as landscape architect. The redevelopment primarily updated LyondellBasell Tower and 2 Houston Center. Brookfield Property Partners acquired the Houston Center campus—including LyondellBasell Tower, 2 Houston Center, Fulbright Tower, 4 Houston Center and The Shops at Houston Center—in December 2017 in an $875 million transaction. The mixed-use campus spans five blocks along McKinney Street.
Feb. 6, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: 1725 Hughes Landing. Courtesy: NAI Partners