RNR Real Estate Briefs from Realty News Report – MISSOURI CITY – Awesung signed a new industrial lease for 239,124 square feet at 611 S. Cravens Road in Missouri City, Texas. Transwestern’s Jude Filippone, Brian Gammill and Darryl Noon represented the building owner.
HOUSTON — JLL was selected by Texas Orthopedic Hospital, an affiliate of HCA Houston Healthcare, as exclusive leasing agent for its medical office building at 7505 South Main. The Class A building totals 80,098 square feet and offers available spaces ranging from 2,577 to 14,625 square feet. JLL’s Chris Wadley, Angela Barber and Hope Brunner will handle marketing and leasing for the property.
LAKE JACKSON, Texas — The 45,086-square-foot Brazos Self Storage facility at 1819 TX-332 in Lake Jackson has been sold, according to Marcus & Millichap real estate investment services.
HOUSTON — Wingstop leased 2,487 square feet at the Carillon Shopping Center, 10001 Westheimer in Houston. The restaurant chain operates more than 1,500 locations worldwide, including over 45 in the Houston area. The tenant was represented by Eddie Lang of Quenby Commercial, and the landlord was represented by Katherine Wildman of Wulfe & Co.
HOUSTON — Jack Gaffney and John Buckley with Finial Group secured a lease extension at 11614 Canyon Trail Drive in Houston. Commando Pressure Control, Inc. renewed its lease in the 14,100-square-foot industrial building in the Four Seasons Business Park, located near State Highway 249, Beltway 8 and FM 1960. Finial Group represented the landlord.
HOUSTON – JLL negotiated a 22,844-square-foot lease at the Towers at Westchase I, a Class A office building in the Westchase district. Network Funding, a residential mortgage lender, will occupy the entire ninth floor. Bryant Lach and Jerrod McQuain of JLL represented Network Funding in the transaction.
STAFFORD – USA Gloves signed a new lease for 114,450 square feet at 11325 Cash Road in Stafford. Transwestern’s industrial team of Jude Filippone, Carter Thurmond and Brian Gammill represented the building owner.
ROCKPORT, Texas – Adjacent to Cove Harbor Marina and Drystack, also developed by Legend Communities, Cove Harbor Coach Resort is a 42-slip motorcoach boutique waterfront resort and clubhouse. The Cove Harbor Event Center features an open-concept space with seating for 140 guests.
HOUSTON – Harmony Public Schools renewed its lease for 15,777 square feet at 14100 Southwest Freeway in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented the building owner, Songy HighRoads LLC.
COLLEGE STATION, Texas – Newmark announced the sale of 2818 Place and Parkway Place, two garden-style, upscale student housing communities totaling 350 units and 1,128 beds serving Texas A&M University. Newmark’s Ryan Lang and Jack Brett represented the seller, Blue Vista, an investment management firm from Chicago. The properties were sold to Mountain Capital Partners of Los Angeles and Homestead Companies.
CONROE – Century Communities, a top 10 national homebuilder, plans to build more than 400 homes in Conroe on two recent land acquisitions, Granger Pines and Caney Mills. Chris Chewis is Houston Division President for Century Communities.
HOUSTON – Third Coast Bank, SSB renewed its lease for 11,148 square feet and expanded by an additional 4,673 square feet at 1800 West Loop South in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented the building owner, Pacific Oak.
WHARTON – Edge Capital Markets brokered the sale of Wharton Shopping Center on US Highway 59 in Wharton. Micha van Marcke and Ryan Holliday of Edge represented the seller. The value-add center totals 15,070 square feet.
TEXAS – RNR Real Estate Briefs
COLLEYVILLE, Texas – CBRE Capital Markets’ Debt & Structured Finance group arranged $32 million in bridge financing for Town Center Colleyville. Shaun Moothart, Dana Summers, Scott Lewis and Frank Piasta with CBRE Capital Markets originated and secured the financing on behalf of Sterling Organization, sourcing the loan through Rialto Capital. The financing carries a three-year initial term with two one-year extension options. Town Center Colleyville is a 246,327-square-foot neighborhood shopping center anchored by a grocery store.
GREENVILLE, Texas – Steven Vegh and Phil Goldstein of Westwood Realty Associates facilitated the sale and arranged financing for two garden-style apartment complexes totaling 316 units in Greenville. New Jersey-based J Stark Management purchased Kingridge Village and Garden Park Apartments for $15 million. The properties, about 25 miles from Dallas, were originally built in 1964 and 1975. The seller was Platinum Management of New York, which had previously acquired the assets for $7 million. Financing was provided by Harbor Group International.
TEMPLE, Texas — Wolf Creek Capital Partners, led by Michael Prahl, acquired the 48-unit Jamestown and Williamsburg apartment properties in Temple. The Multifamily Group’s Danny Wieland represented the seller and Chase Davis sourced the buyer.
CARROLLTON, Texas – Technical Consumer Products Inc. leased 11,819 square feet of office/warehouse space in Whitlock Business Center I at 1425 Whitlock Lane from Kennington Whitlock I, LLC. Brian Pafford and Susan Singer of Bradford Commercial Real Estate Services represented the landlord. Caleb McCoy of JLL represented the tenant.
FORT WORTH – Southland RE Properties, LLC sold a 5,010-square-foot medical office building on 0.52 acres at 6635 Sandshell Blvd., Fort Worth, to JuLa Investments LLC. Erik Blais of Bradford Commercial Real Estate Services represented the seller. Don Phifer of Phifer & Associates Inc. represented the buyer.
MANSFIELD, Texas — Bellomy & Co. announced the sale of Stadium Self Storage in Mansfield, located about 34 miles southwest of Dallas. The Class B facility comprises 343 units totaling 43,745 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, Stadium Self Storage Inc., and also procured the buyer, Austin-based Bassdale Investments, LLC.
NATIONAL – RNR Real Estate Briefs
RICHMOND, Va. – Amazon announced plans for a new robotics-driven fulfillment center on 119 acres in Henrico County near the Richmond Raceway. The multi-story facility will total approximately 650,000 square feet and is expected to create about 1,000 jobs when it opens.
JERSEY CITY, N.J. — Mack-Cali Realty Corporation announced the $255 million sale of its Short Hills, N.J., office portfolio — four office buildings totaling 843,300 square feet — to The Birch Group.
BURLINGAME, Calif. — Cushman & Wakefield served as exclusive advisor to affiliates of Kylli, Inc. in securing $750 million in refinancing for Burlingame Point, an office campus on the San Francisco Peninsula. The 9.3-year fixed-rate financing was provided by affiliates of Goldman Sachs, J.P. Morgan, Deutsche Bank and Athene Annuity & Life Company. Burlingame Point is LEED Gold-certified and includes four Class A office/R&D/life science buildings totaling about 771,000 rentable square feet.
BELLINGHAM, Wash. — eXp World Holdings, Inc. announced a partnership between eXp Commercial and Reonomy to enhance property intelligence and technology offerings for eXp Commercial agents. Reonomy delivers commercial real estate insights using artificial intelligence and machine learning.
DALLAS — CBRE announced the sale of Hilltop Club, a 216-unit, 756-bed student housing community in Bowling Green, Kentucky, near Western Kentucky University. The asset, marketed as a by-the-bed student housing opportunity with potential for conventional multifamily conversion, was transacted by CBRE’s National Student Housing and Nashville Multifamily teams on behalf of ownership. Nashville-based Freeman Webb purchased the property.
FAYETTEVILLE, N.C. — JLL Capital Markets handled the sale of 880 Technology Drive, a fully leased 182,866-square-foot warehouse in Fayetteville. JLL represented the seller, LNR Partners, and New York-based SkyREM purchased the asset.
April 24, 2021 Realty News Report Copyright 2021
Buffalo Bayou Photo credit: Ralph Bivins, Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon.
File: RNR Real Estate Briefs