RNR Real Estate Briefs from Realty News Report – MISSOURI CITY, Texas — Trammell Crow Company and joint-venture partner Artis REIT, a Canada-based real estate investment trust, have broken ground on the fifth and final phase of Park 8Ninety in Missouri City, Texas. Phase V will deliver three Class A speculative industrial buildings totaling 676,860 square feet.
HOUSTON — NAI Partners recently negotiated a 6,236-square-foot office lease for Logistics Health Incorporated at 705 S. Fry Road in Houston. NAI Partners’ Michael Mannella represented the tenant. Logistics Health Incorporated operates as a subsidiary of OptumServe.
HOUSTON — Ashlar Development closed three commercial transactions at The Groves project in northeast Houston. A 20.2-acre multifamily site sold to Martin Fein Interests, Ltd. in May will accommodate a 318-unit development that is now under construction. In addition, an eight-acre parcel was sold to West Lake Church for a religious campus, and a separate 15-acre parcel was acquired by a grocery operator.
DEER PARK — S.I. Warehousing Co. leased 252,203 square feet at Molto Properties’ Monument Business Park development in Deer Park. David Munson of Boyd Commercial represented Molto Properties, while Kelley Parker, Coe Parker and John Littman with Cushman & Wakefield represented S.I. Warehousing Co.
HOUSTON — Paladon Americas has leased 16,850 square feet at 14001 Interdrive West near Bush Intercontinental Airport. Doc Perrier of Finial Group represented the landlord, while David Husid of Newmark represented tenant Paladon Americas, LLC.
HOUSTON — JLL announced a new 3,838-square-foot office lease with Aflac at the M-K-T mixed-use development in The Heights. The M-K-T project is a joint venture of Triten Real Estate Partners, Radom Capital, LLC and Long Wharf Capital. JLL’s Russell Hodges, Bubba Harkins and Jenny Mueller represented the joint venture, while JLL’s Anya Marmuscak represented Aflac in the transaction.
SPRING — Jackson Cain and Lindsey McKean of The J. Beard Real Estate Company represented seller Squealing Pigs Development, LLC, in the sale of 1.5 acres to an undisclosed buyer. The pad site at 25657 Interstate 45 in Spring, Texas, adjacent to The Woodlands, is planned for development as a medical facility.
HOUSTON — John Hornbuckle of Cypressbrook Company represented seller Doris L. Davis in the sale of 3.1 acres on Sweeney Road to buyer 2 JM Investments, LLC.
HOUSTON — John Buckley and Chase Tucker of Finial Group completed a lease extension at 2401 Fountain View Drive. WTPOTUS, LLC renewed its lease at the Class B office building in the Galleria area; Finial Group represented the landlord.
HOUSTON — Greg Usher of Cypressbrook Company represented tenant C&T Design and Equipment Co., Inc., in renewing a 9,440-square-foot lease for office/warehouse space at 9555 Baythorne Drive. The landlord, Texas KBC, LLC, was represented by Matt Dyson of Pearson Dental Supply.
THE WOODLANDS — Rip Reynolds of JLL will lead leasing for the retail component of Research Forest Lakeside, a 77-acre mixed-use development overlooking Lake Woodlands. The project includes six office buildings and four retail buildings at Research Forest Drive and Lakeside Boulevard, west of Grogan’s Mill Road.
CONROE — Kimberly DeVos of Cypressbrook Company represented tenant Farmers Insurance – Sharon Jenkins Insurance Agency, LLC, in leasing office space within the Spirit of Texas Bank building at 16610 I-45 North. The landlord, Spirit of Texas Bank, SSB, was represented by Michael Newhouse.
Texas
AUSTIN — Newmark announced the sale of an 826-unit value-add multifamily portfolio that includes Carrington Park, Elan Apartment Homes and Parmer Place across Morrisville, N.C., and Austin. Newmark’s Sean Wood and Patton Jones represented seller Gamma Real Estate, a New York-based firm. The buyer was Bluerock, also based in New York. In north Austin, Elan Apartment Homes consists of 270 units built in 2007. Parmer Place includes 290 units and was built in 2008. Carrington Park is a 266-unit community in Morrisville, N.C., built in 2008.
SAN ANTONIO — CBRE Hotels announced the sale of a Hyatt Place in San Antonio, along with two other Hyatt Place hotels in Texas. CBRE’s Michael Yu, Rahul Bijlani and Agrama Mannapperuma, in coordination with Ten-X Commercial through an online auction process, represented the seller.
DALLAS — JLL Capital Markets arranged construction financing and equity for Phase II of 20-Midtown, a mixed-use development with residential units and ground-floor retail in Birmingham, Ala. Working on behalf of a borrower group of local developers and investors, JLL secured a construction loan through Bank OZK and equity from New York Mortgage Trust. Phase II will add 312 apartment units.
DALLAS — Dalfen Industrial acquired Peachtree Distribution Center from Clarion Partners. The property at 17745 Lookout Road in Mesquite, an east Dallas suburb, is a 396,750-square-foot cross-dock, multi-tenant distribution facility.
FORT WORTH — Fallas Borrower, IV, LLC sold a 24,833-square-foot building at 2551 Ephriham Ave. to Savcorp, Ltd., d/b/a Savers Cost Plus Supermarket. Shawn Ackerman, president of Henry S. Miller Brokerage Houston, represented the seller, and Troy Morgan, principal with Structure Commercial, represented the buyer.
AUSTIN — Newmark announced the sale of Bradford Pointe, a 264-unit value-add multifamily asset in north Austin near The Domain. The property, which closed at an undisclosed price, was 93% occupied at the time of sale.
ALLEN — JaRyCo, an Allen-based developer, has secured The Hub, a family-friendly food-and-beverage–anchored entertainment venue, to join The Farm in Allen, Texas. The Hub will occupy 2.67 acres at the center of the 135-acre mixed-use development.
National
NASHVILLE, Tenn. — James McHugh Construction Co. announced the topping off of CA Ventures’ mixed-use residential project in Nashville’s Midtown neighborhood. CA Ventures revealed the luxury community’s brand as “2010 West End.” Designed by SCB, the 25-story, 500,000-square-foot development will include a residential tower with 358 apartments, 420 parking spaces and 5,700 square feet of ground-level retail.
DENVER — Transwestern Investment Group and Trammell Crow Residential, the multifamily development arm of Crow Holdings, announced the sale of Alexan Cherry Creek, a recently completed 164-unit apartment community in Denver’s Cherry Creek submarket.
HOUSTON — Allied Orion Group has been selected to manage three off-base military and corporate housing communities for The Accend Companies: M South in Tampa, Fla.; The Flats at Big Tex in San Antonio, Texas; and The Watermark in Norfolk, Va.
ATLANTA — Chicago-based Dayton Street Partners broke ground on the Rock Hill Distribution Center, a 180,300-square-foot facility on 13 acres at Rock Hill Drive and Georgia Highway 85.
PLANT CITY, Fla. — Marcus & Millichap handled the sale of The Village, a 26,280-square-foot mixed-use property in Plant City, Florida, for $1,950,000.
Dec. 13, 2020 Realty News Report Copyright 2020