RNR Real Estate Briefs from Realty News Report
HOUSTON — NAI Partners recently closed the sale of 8725 Meadowcroft Drive, a 20,900‑square‑foot industrial building in West Houston. Michael Keegan and Andrew Laycock of NAI Partners represented the seller. Hunter Johnston of Bridge Commercial represented the buyer, U.S. Living, a subsidiary of Sade Capital that focuses on the acquisition, development and management of multifamily properties.
HOUSTON — Foxconn Assembly signed a new lease for 200,200 square feet at the Sam Houston Distribution Center, located at 9625 Fallbrook Pines. Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond of Transwestern Industrial Group represented the building owner.
HOUSTON — BRT Apartments Corp. sold Kendall Manor, a multifamily property in Houston, for $24.5 million.
SUGAR LAND — Six Pines Investment LLC purchased Riverstone Plaza, a 28,000‑square‑foot retail center on 3.48 acres at 4821 LJ Parkway in Sugar Land, from LJ Parkway, LLC. Marc Peeler of NewQuest Properties represented the seller. Bob Yuanjie of Champions Real Estate Group represented the buyer.
HOUSTON — NAI Partners facilitated the sale of 1302 Boyles Street, an 11,880‑square‑foot industrial property in East Houston. Michael Keegan and Andrew Laycock of NAI Partners’ Industrial Services Group arranged the transaction. The buyer, ED Produce, specializes in wholesale distribution of fresh fruits and vegetables.
SUGAR LAND — Mainna Investments, LP acquired 6.24 acres in Sugar Land Business Park on S. Dairy Ashford Road for an undisclosed amount. John Ferruzzo and Nick Peterson of Transwestern Industrial Group negotiated the sale on behalf of the buyer.
KATY — A 21,750‑square‑foot building at 20432 Westfield Commerce Drive, located on 1.31 acres in Clay Road Commerce Park, has sold. The seller, Westfield Commerce Center, LLC, was represented by Steve Hazel and John Stavinoha of InSite Realty Partners. The buyer was represented by Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties Inc.
HOUSTON — Banta Corporation renewed and expanded its lease for 201,600 square feet at West by Northwest, 6315 West by Northwest Blvd. Brian Gammill and Darryl Noon of Transwestern Industrial Group represented the building owner.
HOUSTON — JP Interest, Inc. and Net Long, LLC purchased a 6,000‑square‑foot retail building on a 0.38‑acre parcel at 4617 Nett St. from McGaughy Thomson and Stewart Properties, LLC. Brad LyBrand of NewQuest Properties represented the buyer.
HOUSTON — Montrose Collective, a mixed‑use retail and office development in Lower Westheimer slated for completion later this year, announced that performance‑fabric clothing brand State & Liberty will open its first Texas store in the project. The 1,100‑square‑foot store will be located off Westheimer and Grant Street among restaurants and other retailers.
HOUSTON — Travis Fite of NorthMarq’s Houston office arranged $10,660,000 in acquisition financing for Coral Island Apartments, a 316‑unit, Class B garden‑style complex at 4700 South Kirkwood Road. The loan was structured as a 10‑year term with a 30‑year amortization through Fannie Mae.
THE WOODLANDS — Lisa Hughes of The J. Beard Real Estate Company represented landlord Havenwood Land Developments, LP in a lease of 3,501 square feet at Havenwood Office Park, 25700 I‑45 North. The tenant, Silver Spring Home Healthcare, was represented by Abim Jones of Realty Associates.
HOUSTON — Freeway Logistics signed a new lease for 97,440 square feet at the Sam Houston Distribution Center, 8828 Taub Road. Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond of Transwestern Industrial Group represented the building owner.
KATY — CHCA Woman’s Hospital, LP leased 3,539 square feet of retail space in Stableside at Falcon Landing at Gaston Road and Falcon Landing Boulevard from NewQuest Properties. Austin Alvis and Grace La of NewQuest Properties represented the landlord, and Ashley Cassel of Transwestern represented the tenant.
HOUSTON — Chase Tucker and John Buckley with Finial Group renewed a lease at 2401 Fountainview Drive on behalf of the law firm J. Lindsey Short & Associates.
HOUSTON — Porter Powers purchased 77,500 square feet of warehouse space at 12306 and 12310 Shiloh Church Road for an undisclosed amount. John Ferruzzo and Nick Peterson of Transwestern Industrial Group negotiated the sale on behalf of the buyer.
WILLIS — Carboneros Latin American Kitchen leased 3,220 square feet in Willis Town Center at Interstate 45 and FM 1097 from NewQuest Properties. Kevin Sims of NewQuest Properties represented the landlord.
HOUSTON — NAI Partners closed the sale of 3815 Hollister St., a 30,194‑square‑foot industrial property in Northwest Houston. Michael Keegan and Andrew Laycock of NAI Partners’ Industrial Services Group handled the transaction.
TEXAS
PLANO — BH Properties acquired Preston Shepard Place, a 361,780‑square‑foot community retail center built in 1995 at Old Shepard Place and Preston Road. Anchored by Marshalls, Burlington and Tuesday Morning, the center was 55% leased at closing.
DALLAS — Village on the Parkway, a 343,911‑square‑foot pedestrian‑oriented urban retail village anchored by Whole Foods Market and AMC Theatres, was acquired by VOP Partners, LLC. The JLL Retail Capital Markets team representing the seller was led by Barry Brown, Chris Gerard and Ryan Shore, with analysts Jason Jacobs and Matthew Barge.
SAN ANTONIO — JLL Capital Markets arranged financing to acquire and renovate Oakdell Way Townhomes, a 100‑unit multifamily property at 6020 Danny Kaye Drive adjacent to the San Antonio Medical Center. The JLL Capital Markets team representing the seller included Mark Brandenburg, CW Sheehan and Cort Martin.
DALLAS — Installation Delivery & Storage, LLC leased 10,000 square feet of warehouse space at 3530 Dilido Road from 75032 Investments LLC. Noah Dodge and Michael T. Grant of Bradford Commercial Real Estate Services represented the landlord.
FARMERS BRANCH — Baley’s Bridal leased 5,042 square feet of retail space in Midway Center at 14472 Midway Road. Melanie Hughes and Elizabeth Hooper of Bradford Commercial Real Estate represented the landlord. Sara Bodzy and Carley Keiser of TIG Real Estate Services represented the tenant.
DALLAS — Huffines Communities, one of the Dallas–Fort Worth area’s largest residential developers, sold a privately owned Class A multifamily community in the Hebron 121 Station area. EastSky, an East Coast multifamily investor, purchased the 90‑acre, resort‑style community comprising 1,429 units from brothers Donald and Phillip Huffines for an undisclosed price.
NATIONAL
BOCA RATON, Fla. — JLL Capital Markets arranged $19.4 million in financing for Glades Twin Plaza, a two‑building office complex totaling 97,815 square feet in Boca Raton. JLL secured the five‑year fixed‑rate loan on behalf of borrower Sterling Organization. Glades Twin Plaza sits on 5.3 acres at 2300 Glades Road in the Boca Raton West submarket and is part of the larger Glades Plaza mixed‑use development owned by Sterling.
ATLANTA — Miami‑based Atlantic Pacific Companies acquired the 224‑unit Grace Apartments in Atlanta, expanding its Georgia portfolio to 21 properties and nearly 5,300 units.
PHOENIX — JLL Income Property Trust financed the Southeast Phoenix Distribution Center, a newly constructed, four‑building distribution campus totaling 474,000 square feet in the Chandler submarket. The financing totaled $49 million with a fixed interest rate of 2.70% for seven years.
ALPHARETTA, Ga. — Dalfen Industrial purchased three Class A industrial properties in Alpharetta, adding 284,000 square feet to its Atlanta‑area portfolio. The properties adjoin earlier Shiloh Crossing acquisitions.
BRUNSWICK, Ga. — Cyclone Investment, a New York City‑based investor, closed on the purchase of Golden Isles Apartments, a 128‑unit property in Brunswick, for $13,500,000. Phil Goldstein and Steven Vegh of Westwood Realty Associates handled the sale.
RUTHERFORD, N.J. — Amazon will occupy a 360,000‑square‑foot warehouse in Rutherford in the Meadowlands industrial market. Lincoln Equities Group owns the project and secured $115 million in build‑to‑suit construction financing for the facility.
June 5, 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.
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Downtown Houston: Photo credit: Ralph Bivins. Copyright 2021
Published by Realty News Report, RNR Real Estate Briefs is a compilation of regional and national real estate news.