RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers completed a sale-leaseback transaction for Dynamic Glass Industrial Park, a 160,778-square-foot industrial complex located at 9419 Windfern Road and 9320 Zaka Road in Houston. The purchaser, Gordon Creekside, was represented by TCI Properties of California. David L. Carter and John Nicholson of Colliers represented the seller. Upon closing, Dynamic Glass executed a 15-year market-rate lease for the property. The four-building industrial campus sits on nine acres with frontage on Windfern Road in the Highway 290 / Tomball Parkway industrial submarket.
SUGAR LAND, Texas — Saladworks has leased 1,800 square feet at Riverstone Place, a new mixed-use development by Wulfe & Co. located at 18802 University Blvd. in Sugar Land. Saladworks, a fast-casual concept specializing in made-to-order salads, sandwiches and soups, opened its second Texas location at this Riverstone site. The landlord was represented by Kristen Barker of Wulfe & Co.
CYPRESS, Texas — Stonemark has assumed management responsibilities and will oversee the renovation of Cantera at Towne Lake Apartments, a multifamily community at 17807 Lakecrest View Drive in the Houston-area suburb of Cypress. The Stonemark Group focuses on acquisition, financing, ownership, management and disposition of multifamily real estate investments across the Southeast, Texas and Mid-Atlantic regions. The enterprise includes Atlanta-based Stonemark Equities and Stonemark Management, which together provide investment and operational oversight for apartment communities.
HOUSTON — Doc Perrier and Jack Callaghan of Finial Group closed a lease for Samoco Holdings, LLC at 500 Century Plaza, a 5,632-square-foot office building in Houston. The building’s proximity to George Bush Intercontinental Airport makes it attractive to businesses focused on logistics and industrial services. The tenant was represented by Brant and Brantly Minor of Discovery Consultant, while Finial Group represented the landlord.
TEXAS
AUSTIN, Texas — Transwestern Investment Group has partnered with Stanmore Partners to develop Stanmore Warner Ranch, a 336-unit multifamily community at 2630 S. A.W. Grimes Blvd. in Round Rock, near Austin. The project will add workforce and market-rate rental options to a growing suburban market with strong employment and infrastructure links to the Austin region.
DALLAS — Younger Partners executives Jerry Averyt and Elaine Xu were awarded the leasing assignment for Waterview Plaza, an 88,000-square-foot office property at 18325 Waterview Parkway. The leasing appointment positions the Younger Partners team to market and lease the asset to regional and national tenants targeting the Dallas submarket.
DALLAS — Drew Crawford and Cole Kenefsky of Finial Group negotiated a lease renewal for Bastian Solutions, LLC at 1801 Royal Lane in Dallas. Bastian Solutions renewed its lease for a 13,000-square-foot space within Westwood Business Park, maintaining its footprint in a well-located suburban office and industrial cluster.
DALLAS — T2V Properties selected Bradford Commercial Real Estate Services to handle leasing for Westridge Park, a Class A speculative boutique office development in the Irving/Las Colinas submarket. Bradford faced competition for the assignment and will be led by Richmond Collinsworth, Erik Blais and Jared Laake. Phase I, a three-story office building totaling 34,188 square feet, was delivered in December 2019. Permits are in place for a second phase totaling 88,100 square feet. Phase I was designed by Hoefer Wysocki of Dallas and constructed by Arch-Con Corporation’s Dallas team.
NATIONAL – RNR Real Estate Briefs
CHICAGO, Ill. — JLL Income Property Trust acquired 170 Park Avenue, a 147,000-square-foot life sciences facility in Florham Park, New Jersey. The asset is net-leased long-term as premier laboratory space and serves as the corporate headquarters for Celularity Inc., a clinical-stage biotechnology company. The purchase price was $47 million. New Jersey remains one of the nation’s leading hubs for life sciences, hosting thousands of biotech and drug development companies.
PINEVILLE, La. — A partnership between Auerbach Funds and Houston-based TCP Realty Services acquired The Pines, a 179,000-square-foot retail center on 18.8 acres in Pineville, Louisiana. TCP’s portfolio includes retail centers across Texas and Louisiana as well as the Spectrum Office Building at 5858 Westheimer in Houston.
CHICAGO, Ill. — JLL Capital Markets arranged a $153 million refinancing for 123 North Wacker, a recently repositioned, amenity-rich 550,000-square-foot office tower in Chicago’s central business district. JLL secured a five-year floating-rate bridge loan on behalf of the borrower, LaSalle Investment Management’s Income & Growth Fund Series. The JLL team advising the borrower was led by Keith Largay and Lucas Borges.
MIAMI BEACH, Fla. — Hodges Ward Elliott facilitated the sale of the Washington Park Hotel, a 181-room historic property at 1050 Washington Avenue in Miami Beach. Built in 1943 and located four blocks from Ocean Drive, the Washington Park Hotel complex comprises five Art Deco buildings and represents both a hospitality asset and a piece of the city’s architectural heritage.
Feb 27, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: Dynamic Glass courtesy Colliers