RNR Real Estate Briefs from Realty News Report – THE WOODLANDS — Entergy, a Fortune 500 energy company, is expanding its office footprint in The Woodlands by 53,604 square feet. The company will occupy 107,614 square feet of office space within the Lake Front North campus at Hughes Landing, the 79‑acre, walkable mixed‑use center on Lake Woodlands.
CYPRESS, Texas — InvenTrust Properties Corp. is renovating Cyfair Town Center, a 433,667‑square‑foot shopping center at US‑290 and Spring Cypress Road in the Houston suburb of Cypress. Anchors include Kroger, JCPenney and Cinemark. InvenTrust’s Mark Vondrak and Jennifer Pollock oversee leasing at the center.
BROOKSHIRE, Texas — Taylor Schmidt of Lee & Associates – Houston represented the seller in the disposition of two manufacturing buildings totaling 28,200 square feet on 2.3 acres at 33977 Hoff Road in Brookshire.
HOUSTON — NAI Partners, the commercial real estate services division of Partners Real Estate Company, arranged a 9,000‑square‑foot retail lease at Fondren Marketplace Shopping Center, 11092 Fondren Road. Jason Gaines represented the landlord, SSS Fondren Marketplace, while Thad Mai of Shop Company represented the tenant, Oak Street Health.
HOUSTON — Lee & Associates – Houston represented Smart Warehousing, LLC in leasing two distribution buildings at 870 Wallisville Road, totaling 226,728 square feet (163,000 SF and 63,728 SF). Mike Spears and C.E. “Trey” Erwin III of Lee & Associates represented the tenant.
HOUSTON — Black Rock Coffee Bar leased 2,782 square feet in Easton Commons Shopping Center at 8542 Highway 6 N. The national coffee bar operator offers classic and specialty drinks, branded merchandise and packaged coffee. The tenant was represented by Matthew Parsons of JLL; the landlord was represented by Wulfe & Co.
KATY, Texas — Tri Pointe Homes Texas, Inc., formerly Trendmaker Homes, acquired 13.74 acres on Gaston Road in Katy. Paul King of Texas Land & Commercial Properties represented the buyer. The seller, the estate of Bessie M. Robinson, was represented by David Jalowy of Front Porch Real Estate and by Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties, Inc.
HOUSTON — NAI Partners arranged a 13,500‑square‑foot industrial lease at 5956 Berry Brook Drive. Zane Carman, Josh Lass‑Sughrue and Clay Pritchett represented the landlord, Northwest Houston Industrial, LLC. William Byrd and Patrick McKiernan of First Houston Properties represented the tenant, Quality Pump Parts.
HOUSTON — Lee & Associates – Houston represented RD LaCoure Enterprises, LLC in leasing a 4.79‑acre yard to Werner Transportation at 1224 Normandy Street. Justin Tunnell represented the landlord.
TEXAS – RNR Real Estate Briefs
AUSTIN — Partners Capital, the investment platform of Partners Real Estate Company, acquired Oak Hill Plaza in Austin. The 115,518‑square‑foot retail center is Partners Capital’s second purchase through its Fund IV vehicle. Adam Hawkins of Partners Capital worked with Sam Affanhe of Huntington Properties to source the off‑market transaction. Financing was provided by Peyton Jones at Veritex Bank.
FRISCO, Texas — Newmark announced the sale of The Offices Two at Frisco Station, a 210,424‑square‑foot office building at 6303 Cowboys Way. Completed in early 2020, this building is the second office structure at Frisco Station, a 242‑acre mixed‑use development by VanTrust Real Estate. Newmark’s Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen represented the seller.
DALLAS — Cyber Defense Labs, a cybersecurity firm, leased 13,130 square feet at The Crescent. Peery Wood of CBRE represented Cyber Defense Labs; Tony Click and Jordyn Allen represented The Crescent. Crescent Real Estate, LLC was founded by Chairman John C. Goff.
SAN ANTONIO — NAI Partners’ Kyle Kennan arranged the sale of an eight‑unit multifamily property on Sandmeyer Street in San Antonio.
GRAND PRAIRIE, Texas — CBRE announced the sale of Riverside Place, a 148‑unit multifamily community at 2800 NE Green Oaks Boulevard. Shore to Shore Properties of Sausalito purchased the property from Irving‑based MPH Partners. Chris Dueillet and William Hubbard with CBRE Capital Markets’ Dallas Multifamily team represented the seller.
DALLAS — Crescent Real Estate, LLC and J.P. Morgan Global Alternatives filled a vacant space at McKinney & Olive and have resumed social events as tenants return to the Cesar Pelli‑designed office building in Uptown Dallas. Ankura Consulting Group, LLC signed a lease for 9,689 square feet in Suite 320. Calvin Hull and Don Preate of JLL represented Ankura; John Zogg and Marissa Parkin represented Crescent and J.P. Morgan.
DALLAS — Banna Realty, LLC finalized an office relocation to 4901 LBJ Freeway near the Dallas North Tollway. The new 49,504‑square‑foot corporate office will serve a local wholesale auto dealership. Chad Albert of NAI Robert Lynn represented the buyer; Susan Gwin Burks of Avison Young represented the seller.
CORPUS CHRISTI, Texas — Bellomy & Co. announced the sale of Space Self Storage, a Class B facility with 300 units totaling 40,948 square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Austin‑based seller, Divisidero Property, LLC, and procured the New York‑based buyer, Andover Properties.
DESOTO, Texas — Trez Capital announced the sale of The Beacon on Westmoreland, a Class A garden‑style apartment community on 10.41 acres offering 194 units. The development was built in partnership with Thompson Realty Capital, LLC. Trez Capital provided a $6,307,385 equity investment for acquisition and construction in February 2019.
NEEDVILLE, Texas — An undisclosed buyer purchased two acres at FM 360 and Williams School Road. CMI Brokerage, an affiliate of Central Management, Inc., represented the buyer.
NATIONAL — RNR Real Estate Briefs
PHOENIX, Ariz. — Cresset Real Estate Partners and Clarius Partners closed on a land acquisition for 303 Crossroads, a 1,758,410‑square‑foot logistics development in Glendale. The project will include two buildings constructed in phases on land fronting Loop 303 and Northern Parkway. Building 1, at 1,023,610 square feet, is scheduled for completion in 2022; Building 2, at 734,800 square feet, is slated for 2023. Groundbreaking was scheduled for October 2021.
CHICAGO, Ill. — JLL Income Property Trust acquired a 47% interest in a single‑family rental portfolio of more than 4,000 homes, assembled and managed in partnership with affiliates of Amherst Residential and an institutional investor. The 47% stake was acquired for $560 million, based on an overall portfolio valuation of $1.2 billion.
TAMPA, Fla. — MRA Capital Partners, a boutique investment firm, relocated its corporate headquarters from New Jersey to Tampa. CEO and Managing Partner Adam Anderson cited the Greater Tampa Bay area’s strong growth and expanding job market as reasons for the move.
MIAMI, Fla. — Uber signed a lease for 13,000 square feet of office space at 3 MiamiCentral in downtown Miami. Scott Silverstein of Portfolio Management represented EQ Office in‑house alongside Blanca CRE. Jones Lang LaSalle represented Uber.
ETC: Multifamily — RNR Real Estate Briefs
HOUSTON & SAN ANTONIO — Newmark announced the sale of a four‑property luxury multifamily portfolio totaling 1,103 units within major medical districts in San Antonio and Houston. In San Antonio, Broadstone Oak Hills (7714 Louis Pasteur Drive) and Hawthorne House (7403 Wurzbach Road) are near the South Texas Medical Center. In Houston, 5755 Hermann Park (5755 Almeda Road) and Equinox (2950 Old Spanish Trail) are within the Texas Medical Center. Newmark’s Patton Jones, Matt Michelson, Zach Springer, David Mitchell and Thomas Alleman represented the sellers: Alliance Residential for Broadstone Oak Hills, Hawthorne House and Equinox; and M‑M Properties for 5755 Hermann Park. River Rock Capital purchased Broadstone Oak Hills and Hawthorne House; Sun Holdings acquired Equinox and 5755 Hermann Park.
HOUSTON — Electra Capital, a specialty lender focused on flexible, short‑term multifamily financing, closed a $6.2 million participating preferred equity investment in the Cypress Station Portfolio, two Houston multifamily communities totaling 488 units. Strategic Realty Holdings acquired the garden‑style communities for $34.3 million. The portfolio includes the 252‑unit Cypress Ridge Apartments at 2331 Bammelwood Drive and the 236‑unit Highland Cross Apartments at 411 Highland Cross Drive. Electra Capital CEO Samuel J. Greenblatt noted Houston’s strong job growth and rising apartment demand driven by employment diversification and in‑migration.
SAN ANTONIO — The San Antonio Housing Authority, in partnership with OCI Development and an affiliate of Atlantic Pacific Communities (A|P Communities), broke ground on two new affordable housing communities: Vista at Everest and Vista at Interpark. Together the developments will add 128 affordable apartment homes to neighborhoods where more than 45% of renter households spend over 30% of their income on housing. Construction is expected to be completed by fall 2022. “The San Antonio Housing Authority is proud to partner with Atlantic Pacific to provide opportunity housing to residents working on the frontline,” said Timothy Alcott, chief legal and real estate officer of the San Antonio Housing Authority.
Aug 14, 2021 Realty News Report Copyright 2021
Photo courtesy HHC – Hughes Landing
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