RNR Real Estate Briefs from Realty News Report – HOUSTON – Colliers International announced that Sourcepoint, Inc. has leased 34,852 square feet at Westbelt Office Center, 8101 W. Sam Houston Parkway S. in Houston. The landlord, RMA American Realty Limited Partnership, was represented by John Pruitt of JLL, while Bob Parsley, Darren Gowell and Mia Jarrell of Colliers International represented the tenant. Located in the Southwest Beltway 8 office submarket, Westbelt Office Center is currently about 80% occupied and offers approximately 1.3 million square feet of Class A and B+ office space available for lease. Sourcepoint provides services to the U.S. mortgage industry.
HOUSTON — NAI Partners recently arranged a 38,765-square-foot office lease for First Investors Financial Services, Inc. at 5757 Woodway in Houston. NAI’s Dan Boyles represented First Investors Financial Services. The landlord, 5757 Woodway Realty, Ltd., was represented by Braun Enterprises, which purchased the building in 2018 and completed a comprehensive rebranding and renovation of the property.
HOUSTON — Avison Young announced it negotiated the sale of 63 acres on Atascocita Road, northeast of Wilson Road in Humble, Texas. Avison Young’s Tommy LeBlanc and John-Michael Kamel represented the seller, Sowell & Company, in the transaction with USA Waste of Texas Landfills, Inc.
HOUSTON — Stonelake Capital Partners acquired 6161 Bingle, a 127,513-square-foot industrial building on 17 acres. The seller, Graybar, was represented by Andy Sowell of Boyd Commercial. With assistance from David Munson and Wes Williams of Boyd Commercial, Stonelake leased the property to Hannibal Industries, a manufacturer of steel pallet racks.
GALVESTON — Kimberly DeVos of Cypressbrook Company represented Garden Thai Cuisine in leasing 3,804 square feet of restaurant and patio space at The Washington Building, 2228 Mechanic St. in Galveston. The landlord, Mitchell Historic Properties, Inc., represented itself in the deal.
HOUSTON — George W. Evans Properties, Ltd. has sold parcels at 5902 and 5904 Dolores Street, comprising 23,177 square feet of land and 2,844 square feet of building improvements. The buyer was represented by Kal Drooby Realtors. The seller was represented by Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties, Inc.
HOUSTON — The Multifamily Group, a commercial real estate brokerage, closed the sale of Parkway Plaza Apartments located in Houston’s Northline submarket. The garden-style complex, built in 1970, totals 145 units across both sides of Parker. TMG’s Managing Director Chris Siemasko represented both buyer and seller.
HOUSTON — George Montes of Cypressbrook Company represented tenant ABG Resources, Inc., operating as Mycot Style, in leasing 6,442 square feet of office/warehouse space at 25275 Budde Road in Spring, Texas. Michael Blount of Panoptic Realty Group represented the landlord, Lone Star C & L Investments, LLC.
HOUSTON — Marcus & Millichap announced the sale of Strack Road Storage, a self-storage facility totaling 198,005 square feet.
HOUSTON — John Hornbuckle of Cypressbrook Company represented landlord EP Office Holdings in leasing 2,595 square feet of office space at 4615 Southwest Freeway in Houston. Charles Fertitta of Colliers International represented the tenant, Ingenero, Inc.
TEXAS — RNR Real Estate Briefs
AUSTIN — Newmark announced the sale of The Monroe, a 223-unit new-construction multifamily development near the East Riverside Corridor. Still under construction at the time of sale, the asset was sold for an undisclosed price. Newmark’s Patton Jones represented the seller, Dallas-based Stillwater Capital.
CIBOLO — NAI Partners arranged the sale of 29.9 acres on Green Valley Road in Cibolo, Texas. NAI Partners’ Brett Lum represented the seller. The buyer was the Board of Trustees of the Schertz-Cibolo-Universal City Independent School District.
BELTON — NAI Partners arranged the sale of 1000 Kirkley, a 62,375-square-foot industrial warehouse on 5.21 acres off Highway 190 in Belton. The transaction was handled by NAI representatives Ryan McCullough, Tyler Jaynes, Connor Watson and Patrick Hill, who represented the seller.
SAN ANTONIO — NAI Partners arranged the sale of a 7,765-square-foot parcel on 3.86 acres at 6916 NE Loop 410 for Alterra Property Group. NAI Partners’ Carlos Marquez represented the seller. Alterra is a real estate investment, development and management company based in Philadelphia.
NATIONAL – RNR Real Estate Briefs
WASHINGTON, D.C. — JLL Capital Markets announced closing on the $58.5 million leasehold sale of 1717 Rhode Island, a 157,050-square-foot boutique office building in downtown Washington, D.C. JLL marketed the property on behalf of seller BentallGreenOak. Tritower Financial Group purchased the 10-story building.
TAMPA, Fla. — Robbins Property Associates, a vertically integrated multifamily owner-operator, partnered with a repeat private equity limited partner to acquire Century Cross Creek, a 297-unit apartment community in Tampa.
SEATTLE, Wash. — JLL Capital Markets handled the sale of 9805 Willows, an 80,980-square-foot creative office asset in Redmond, Washington. JLL represented the seller, a joint venture between Graymark Capital and Blue Vista Capital Management, and procured Invesco Real Estate as the buyer.
SAN DIEGO, Calif. — Global investment firm KKR acquired Three Piper Ranch, an industrial distribution property comprising two buildings totaling 330,000 square feet in San Diego. KKR purchased the asset from Zurich Alternative Asset Management, LLC, with CBRE Capital Markets facilitating the sale.
ATLANTA, Ga. — JLL Income Property Trust, an institutionally managed daily NAV REIT, announced the acquisition of Siena Suwanee Town Center, a 240-unit luxury apartment community in Suwanee, Georgia, for approximately $70 million.
NEW YORK, N.Y. — Moody’s Corporation has acquired Catylist, Inc., a provider of commercial real estate solutions for brokers. The acquisition strengthens Moody’s Analytics platform by expanding property-level data coverage and analytic offerings for the broker market. The Houston Association of Realtors’ Commercial Gateway (CommGate.com) division is powered by Catylist. “The acquisition will enhance the services we deliver to the members of CommGate.com, our commercial information exchange,” said Mario Arriaga, chairman of Houston Realtors Information Service.
Jan. 10, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs