RNR Real Estate Briefs from Realty News Report – HOUSTON — Reed Vestal and Taylor Schmidt of Lee & Associates – Houston represented 290 Betka, LLC in the acquisition of 265.63 acres at 26103 Betka Road in Hockley. Jeffrey Pittman and Alex Makris of CBRE represented the seller, McAlister Opportunity Fund 2012, LP.
HOUSTON — Susman Godfrey leased 76,856 square feet at Wells Fargo Plaza, 1000 Louisiana. Marilyn Guion, Dave Hanusa and Warren Savery of CBRE represented the landlord. Steve Burkett of JLL represented Susman Godfrey.
HOUSTON — Wolff Companies, founded by David Wolff, acquired 43 acres of land fronting U.S. 290 at the northeast corner of James R. Muse Parkway. This acquisition expands Wolff’s Beacon Hill development to 561 acres.
HOUSTON — Colliers International announced that Tiny’s Milk & Cookies has leased space in the Village Towers at 9655 Katy Freeway in Houston, marking its third Houston location. Hannah Tosch of Colliers International represented the tenant, Tiny Boxwood’s Holdings, LLC. The landlord, Moody National HQ, represented itself in the transaction.
HOUSTON — Inway Oaks JV purchased 44.25 acres of raw land at 26008 Riley Road in Waller from Schwindmoore Forest LLC. Randy Nerren of NewQuest Properties represented the buyer. Brenda Pennington of B. Pennington Commercial Real Estate Inc. represented the seller.
HOUSTON — The Groves, a master-planned community in northeast Houston developed by Ashlar Development, added Beazer Homes to its roster of builders.
HOUSTON — JLL Capital Markets arranged refinancing totaling $40 million for 5300 Memorial and 10497 Town & Country, two office buildings that together total 302,980 square feet. JLL represented an affiliate of Equus Capital Partners to secure five-year, floating-rate loans through East West Bank. 5300 Memorial is a recently renovated, 153,671-square-foot office building connected to a 444-space parking structure. The 11-story property is 93% leased.
HOUSTON — Asset Living, a Houston-based property management firm, announced the acquisition of Shelton Residential, an Arizona-based manager specializing in conventional multifamily apartments. Founded in 1984, Shelton manages more than 17,000 units across Arizona, Texas, Colorado and New Mexico.
WILLIS, Texas — Bellomy & Co. announced the sale of A-1 Storage in Willis, Texas, located 48 miles north of Houston. The Class B self-storage facility comprises 242 units totaling 52,680 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, Pacific View Investments, LLC, based in Hermosa Beach, California. Craig Rice and Cole Rice of CSD Realty Company represented the buyer, Willis East Storage, LLC, based in Houston.
HOUSTON — Transwestern Real Estate Services brokered the acquisition of an 84,200-square-foot, multi-tenant industrial building at 5708 N. Shepherd Drive. John Ferruzzo and Nick Peterson provided investment sales services to the buyer, Geirin North Shepherd, LLC. David Munson and David Boyd of Boyd Commercial represented the seller, the estate of Frank D. Adams.
HOUSTON — Global Student Housing – Houston, LLC purchased a 1.2-acre development site at Scott and McGowen streets from RSB Ventures Ltd. Brad LyBrand of NewQuest Properties represented the seller.
WEBSTER — SynergenX leased 3,054 square feet at Baybrook Passage Shopping Center at I-45 and Bay Area Boulevard in Webster, Texas. SynergenX provides hormone replacement, weight loss and related services and now operates 13 locations in Texas, seven of which are in the Greater Houston area. The tenant was represented by Brady Wright and John Pope of Pope Corporation, and the landlord was represented by Elise Weatherall of Wulfe & Co.
HOUSTON — Doc Perrier of Finial Group negotiated a lease extension at 1960 South Starpoint in Houston. Mesino Management Company, LLC renewed its lease for the 7,875-square-foot industrial building located off Hardy Toll Road in North Houston. Finial Group represented the landlord.
HOUSTON — Original Chopshop leased 3,550 square feet of retail space in Tanglewood Shopping Center at 5018-D San Felipe Street from RPI Management Co., LLC. Josh Friedlander of NewQuest Properties represented the landlord. Ben Brown of Baker Katz represented the tenant.
ROSENBERG — Cavender’s purchased 1.75 acres in Village Crossing – Rosenberg, near I-69/US 59 between Reading Road and FM 2218 in Fort Bend County, for a new Cavender’s Boot City store. Sharon Biles of Sabre Properties assisted Cavender’s with the land purchase. Jennifer Raymond of JPR Commercial Real Estate represented the seller.
MANVEL — Special Smiles Kid’s Dentistry & Orthodontics leased 2,982 square feet of retail space in the Shops at Sedona Lakes at the intersection of TX-288 and Bailey Avenue from NewQuest Properties. Kevin Sims of NewQuest Properties represented the landlord. George Allen of Practice Real Estate Group represented the tenant.
HOUSTON — Houston-based ConocoPhillips completed the acquisition of Midland-based Concho Resources, an oil and gas company operating in the Permian Basin with headquarters at One Concho Center in Midland.
TEXAS — RNR Real Estate Briefs
DALLAS — J. Small Investments announced that UT Southwestern Medical Center has signed an 180,000-square-foot lease at Pegasus Park, a life sciences hub in North Texas. The Pegasus Park campus comprises 750,000 square feet across multiple buildings, including an 18-story tower. Constructed for Zale Corp. in 1970, the campus was acquired by Mobil Oil in 1981 and later purchased by J. Small Investments from Exxon Mobil in 2015 after years of underuse.
MESQUITE — Younger Partners principals John St. Clair and Jack Gail brokered the sale of nearly 40 acres in Mesquite to Dalfen Industrial. The tract on E. Scyene Road sits adjacent to the City of Mesquite Airport. Dalfen Industrial, founded in Montreal, is among the largest industrial real estate buyers in the United States.
NACOGDOCHES — The Multifamily Group, a Dallas-based commercial real estate brokerage, sold Woodland Trails, a 72-unit apartment complex in Nacogdoches, Texas. TMG Managing Director Evan Burke worked with the California seller to secure the buyer, Gold Star Capital; the seller was Hermosa Land Investment III, LLC.
ALLEN — The Allen Economic Development Corp. announced that JaRyCo’s 135-acre development, The Farm, set to break ground in early 2021, will include a 2.6-acre food-and-beverage-focused entertainment destination called The Hub. The city’s 121 Corridor along State Highway 121 now includes 900 acres of planned development, with 2.5 million square feet either underway or recently completed.
ARLINGTON — Sublett Holdings, LLC sold a 5,040-square-foot retail building on 0.63 acres at 1235 W. Sublett Road to P&E Groot Family Trust. Shane Benner of Bradford Commercial Real Estate Services represented the seller. David Newton of DFW Lee & Associates represented the buyer.
AUSTIN — JLL Capital Markets handled the sale of the 225-unit Broadstone Crossing Apartments in Austin. JLL represented the seller in the transaction with buyer Langdon Street Capital. The JLL team was led by Sean Sorrell, with Joe Dowdle and Ryan McBride.
CARROLLTON — Deal Ark LLC leased 5,555 square feet of flex space at 2425 McIver Lane from 2425 McIver Ltd. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Susan Singer, executive vice president, represented the landlord. Corbin Blount of DFW Lee & Associates represented the tenant.
DALLAS — Younger Partners principals Scot Farber and Tom Strohbehn closed out 2020 by brokering three property sales totaling more than 421,896 square feet in the fourth quarter, bringing their 2020 total to 705,254 square feet.
NATIONAL — RNR Real Estate Briefs
FORT WALTON BEACH, Fla. — Marcus & Millichap arranged the sale of Madison Parc, a 108-unit apartment property in Fort Walton Beach, Florida. The asset sold for $16,850,000, according to David G. Bradley, regional manager of Marcus & Millichap’s Tampa office.
SAN DIEGO, Calif. — JLL Capital Markets closed the $37.35 million sale of Torrey Hills Medical Plaza, a 47,596-square-foot Class A medical office building with an attached parking garage in San Diego. JLL represented the sellers, Virtus Real Estate Capital and Coast Income Properties, in the year-end transaction with a publicly traded real estate investment trust as buyer.
CHARLOTTE, N.C. — JLL Capital Markets closed the $11.2 million sale and arranged financing for a 149,550-square-foot logistics facility fully occupied by an investment-grade tenant at 6801 Augusta Road in Greenville, South Carolina. JLL represented the sellers, Dexter Companies and Silver Cap Partners; the buyer was Equity Industrial Partners.
CHICAGO — Berkadia has acquired Moran & Co., a Chicago-based apartment brokerage.
Jan. 16, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: New Block 162 Tower in Denver in 2020. Photo courtesy Patrinely Group