HOUSTON – (RNR Real Estate Briefs) — David Alexander of Newcor Commercial Real Estate represented the seller, NOCNIR, LLC, in the sale of a 21,261-square-foot office-warehouse located at 3367 North Sam Houston Parkway West in Houston.
HOUSTON – Pet Supplies Plus has leased 7,500 square feet of retail space at Memorial at Kirkwood, located at Memorial Drive and North Kirkwood Road, from RPI Management. Josh Friedlander and Bob Conwell of NewQuest Properties represented the landlord. Lunden McGill of Baker Katz represented the tenant.
CONROE — Kimberly DeVos of Cypressbrook Company represented the landlord, Fred & Bill, LLC, in leasing 3,178 square feet of office space at 104 W. Davis St. in downtown Conroe. The tenant, Yollick Law Firm, was represented by Eric Yollick.
BELLAIRE – Xfinity has leased 1,840 square feet in Bellaire Town Center. Xfinity is a trade name of Comcast Cable Communications, LLC, used to market consumer cable television, internet, telephone and wireless services. The tenant was represented by Reagan & Associates and Wulfe & Co.
John Hornbuckle of Cypressbrook Company represented the tenant, Leader Publications, in leasing 2,192 square feet at 2400 Central Parkway in Houston. Robyn Berry of Evtex represented the landlord, CC Realty Advisors, Ltd.
MISSOURI CITY, Texas – Candy Shack has leased retail space at 6850 Highway 6 in the Fairview Plaza Shopping Center. Jason Gibbons and Jack Gaffney of Finial Group represented the tenant.
Two different Toasted Yolk Café franchisees signed new leases for restaurant spaces in League City and Bellaire. Paul W. Vernon and Campbell Vise of Henry S. Miller Brokerage represented the tenants. In League City, Toasted Yolk Café leased 6,110 square feet in Pinnacle Park at 2535 Gulf Freeway South. In Bellaire, the tenant leased about 4,100 square feet of new shell space in the recently rehabilitated Bellaire Town Center at 5103 Bellaire Blvd. These will be Toasted Yolk Café’s 15th and 16th locations.
L’Art Salon and Beauty Service has leased 3,000 square feet of retail space in the Shoppes at Grand Crossing, at Interstate 10 and Grand Parkway (TX-99) in Katy, Texas, from POG Kosmos 1099 LP. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Joanna Tran of Realty Alliance represented the tenant.
HOUSTON – ZT Motors, the automotive portfolio arm of Houston-based private equity firm ZT Corporate, acquired Ron Carter Autoland in Alvin, south of Houston. The location will feature new and used vehicle brands including Chevrolet, Buick, GMC, Ford, Chrysler, Jeep, Dodge and Ram. Taseer Badar is chairman and chief executive officer of ZT Corporate.
TEXAS – RNR Real Estate Briefs
AUSTIN — Maria’s Taco Xpress, a South Lamar Boulevard fixture since 1997, is under contract to be sold to an Austin-based investment company. The sale is expected to close in early November. The new ownership is working with Britt Morrison and Brett Maze from The Weitzman Group to identify the ideal tenant for the location. Bradley Bailey and Adam Rabin of CBRE in Austin represented owner Maria Corbalan in the property sale.
SAN ANTONIO – Transwestern Real Estate Services has been selected by Cypress Holdings to provide leasing services for 222 W. Cypress, a 20,656-square-foot, two-story medical office building in Midtown San Antonio. Transwestern associate James Murry will handle healthcare leasing services on behalf of Cypress Holdings.
FORT WORTH — Walker & Dunlop, Inc. announced it structured a $17,850,000 Fannie Mae loan for ConstellationRanch, a 324-unit Class B multifamily property in Fort Worth. Stuart Wernick and Matt Newton led the Walker & Dunlop team in arranging the refinancing for Railfield Partners, a long-time client.
CORPUS CHRISTI – Relax Station has leased retail space in Saratoga Town Center, at Saratoga Boulevard and Staples Road, from NewQuest Properties. Bob Conwell and David Meyers of NewQuest represented the landlord.
DALLAS — I-20 Industrial, LP purchased 15 acres from HCH Farms, Ltd. for a new development near the LBJ Freeway. HSM Equity Partners, led by Mark Smith Sr., will build a new 15,540-square-foot facility for OTR Fleet Service. Huntley Luna and Nick Robertson of Henry S. Miller Brokerage brokered the transaction. Tom Clarke with Transwestern represented the seller.
KYLE – Amazon opened a new 300,000-square-foot sort center south of Austin in Kyle. The facility sorts packages before they are transferred to delivery stations or last-mile partners for final delivery. The center has already created more than 1,130 jobs, all paying at least $15 per hour.
NATIONAL – RNR Real Estate Briefs
NEW HAVEN, Conn. – Hines announced construction has begun on The Whit Wooster Square, a new apartment community in New Haven. The project will deliver 230 rental apartments and approximately 5,600 square feet of street-level retail across two buildings at 630 Chapel St. in the Wooster Square neighborhood. This marks Hines’ first multifamily development in Connecticut, adding to its 18,000-unit portfolio.
INDIANAPOLIS – Lee & Associates completed the $2,100,000 sale of a newly constructed retail building occupied by Bank of America. The 4,050-square-foot building is in Greenwood, near Indianapolis. Bank of America’s new 15-year absolute NNN ground lease includes 10% rent increases every five years during the primary term and six 5-year renewal options. Ryan Barr and Ryan Bennett of Lee & Associates North San Diego County and Scot Courtney of Lee & Associates Indianapolis represented the seller, SFS Real Estate LLC, and generated multiple offers nationwide. The buyer, EZ Land Indiana, LLC, was represented by Alan Fruitman with 1031Tax.com. Barr & Bennett Net Leased Investment Group, a team within Lee & Associates North San Diego County, specializes in net-leased assets nationwide.
DURANGO, Colo. – JLL closed the sale of Confluence at Three Springs, a 171-unit garden-style multifamily community in Durango. JLL also arranged acquisition financing for the buyer, Denver-based Trailbreak Partners, through Freddie Mac, and represented the seller, GF Properties Group.
BAKERSFIELD, Calif. – The Mogharebi Group completed the $22 million sale of Pine Brook Apartments, a 240-unit rental community in California’s Central Valley. Mark Bonas of The Mogharebi Group represented the seller, a Southern California owner. The buyer was a private capital investor based in Northern California.
ATLANTA — Preferred Apartment Communities, Inc. announced a purchase and sale agreement to sell its student housing portfolio to TPG Real Estate Partners for $478.7 million. The transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions. CBRE marketed the portfolio for sale.
MONTEVALLO, Ala. — LGI Homes, Inc., a Houston-based homebuilder, announced the opening of a new community in the Birmingham market: Lexington Parc, offering a variety of newly built homes.
Oct. 3, 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs 2020
Caption: Photo courtesy Patrinely Group. Block 162, Denver
