RNR Real Estate Briefs from Realty News Report – HOUSTON – JLL Capital Markets arranged financing for the acquisition of Residences 2727, a 171-unit multifamily property at 2727 Elmside Drive in Houston’s Westchase submarket. The JLL Capital Markets team representing the borrower was led by Mark Brandenburg, CW Sheehan and Cort Martin.
HOUSTON – Transwestern has negotiated two retail leases at Centre at River Oaks, 3021 Kirby Drive, raising the mixed-use development’s retail occupancy to 87%. Original ChopShop will open its first Houston location, occupying 2,921 square feet, and Circa Lighting is relocating to occupy 6,027 square feet. Crystal Allen provided agency leasing services for the building owner, The Ainbinder Company.
HOUSTON – JLL announced an 18,069-square-foot lease for Enventure Global Technology, a provider of scalable technology solutions for the energy industry. The property at 1311 Broadfield Blvd. is owned and managed by an affiliate of Rycore Capital, a Houston-based real estate investment management firm. Jack Russo of JLL represented the landlord, and Rich Pancioli of CBRE represented the tenant.
THE WOODLANDS — The Howard Hughes Corporation and Culinary Khancepts announced State Fare Kitchen & Bar, a full-service restaurant specializing in Southern cuisine, will open its third location in late 2021 at Hughes Landing, a 79-acre, award-winning mixed-use destination in The Woodlands. The restaurant will be located on Restaurant Row overlooking the 200-acre Lake Woodlands at 1900 Hughes Landing Blvd.
HOUSTON — JLL Capital Markets closed the sale of a two-property self-storage portfolio totaling 1,603 units in the Houston and Chicago metropolitan areas. JLL represented the seller, a private equity real estate fund advised by Crow Holdings Capital. National Storage Affiliates Trust acquired the assets. The portfolio includes the 857-unit Sugar Land Self Storage in Richmond, Texas, and the 746-unit Crestwood Self Storage in Crestwood, Illinois. Sugar Land Self Storage features a mix of climate-controlled and drive-up units. Built in 1998 and expanded in 2003, the four-story facility sits on eight acres at 1728 Crabb River Road. The JLL team representing the seller was led by Brian Somoza, Steve Mellon and Dan Reynolds.
WILLIS, Texas — Sakura Japanese Sushi & Steak House leased 3,027 square feet of retail space in Sam Houston Town Center, at Interstate 45 and FM 1097 in Willis, from NewQuest Properties. Kevin Sims of NewQuest Properties represented the landlord. Richard Qi of Champion Real Estate represented the tenant.
HOUSTON — Jack Gaffney and Jack Callaghan with Finial Group secured a lease at 1102 Pinemont Drive in Houston. The tenant, KA Osteopractic Physical Therapy & Wellness, LLC, signed a long-term lease at the retail center. Finial Group represented the tenant.
ROSENBERG, Texas — Rocky Mountain Kolaches leased 1,400 square feet of retail space in Brazos Town Center, at Interstate 69/US Highway 59 and FM 762 in Rosenberg, from NewQuest Properties. Austen Baldridge and Bob Conwell of NewQuest Properties represented the landlord.
HOUSTON — Dave’s Hot Chicken recently leased a 2,995-square-foot space in Spring Town Center at FM 2920 and Kuykendahl Road in Spring, Texas. Debbie Adams of Edge Realty Partners represented the tenant, and Kevin Sims of NewQuest Properties represented the landlord.
HUMBLE — Marcus & Millichap handled the sale of Atascocita Retail Center, a 5,994-square-foot retail property in Humble, Texas, shadow-anchored by Kroger. Riley Sharman from Marcus & Millichap’s Houston office had the exclusive listing to market the property on behalf of the seller, an unnamed developer.
KATY — Homebrew Coffee Shop and Eatery leased 1,500 square feet at Highland Knolls Shopping Center, located at 21040 Highland Knolls in Katy. The landlord was represented by Kristen Barker of Wulfe & Co.
HOUSTON — VB Capital Ventures, Inc., doing business as Griswold Home Care of West Houston, leased 1,970 square feet in Briar Hills Plaza at 1011 Highway 6 South. The landlord, B.H. Commercial Properties, LLC, was represented by Paula Musa and Michelle Wogan of Transwestern. The tenant was represented by Mark Kidd, Sr. and Mark Kidd, Jr. of M Kidd Properties, Inc.
TEXAS – RNR Real Estate Briefs
AUSTIN – Magellan Development Group, together with BLG Capital Advisors, Geolo Capital and Wanxiang America Real Estate Group, is developing a 32-story mixed-use tower called 5th and Brazos in Austin. The project’s initial 331 apartments are scheduled to open this summer with an average rent of $2,636, according to local reporting.
DALLAS – Orlando-based Elevation Financial Group, a provider of senior and multifamily affordable housing, announced that Elevation Real Property Fund VII acquired Lakeland Hills Senior Living, a 170-unit community in Dallas, for $8.45 million.
CORPUS CHRISTI — Marcus & Millichap Capital Corporation arranged an $18 million loan for the acquisition of a 250-unit multifamily property in Corpus Christi. The 10-year, non-recourse loan carries a fixed interest rate of 3.77%.
DALLAS – BKV Group, a multidisciplinary design firm, announced the topping-out of Modera Katy Trail, a 14-story multifamily tower with 217 units at 5350 McKinney Ave. in Uptown Dallas. Developed by Mill Creek Residential, the apartment community is slated to open in 2022.
DALLAS – Bradford Commercial Real Estate Services filled 11,445 square feet of industrial-flex space in Park Forest Business Center in northeast Dallas with three leases. Jane’s African Food Depot leased 5,000 square feet; House of Living Water leased 4,085 square feet; and SignGraphx Printing & Specialties leased 2,360 square feet. Bradford Commercial’s Noah Dodge, senior associate, and Jason Finch, vice president, represented the California-based landlord, Tyler Family Investments LLC.
NATIONAL – RNR Real Estate Briefs
MONROE CITY, Mo. – The Jenkins Organization, a Houston-based firm led by Ricky Jenkins, opened Mark Twain Lake Jellystone Park, a 133-acre RV resort facility in Missouri.
NASHVILLE – Rubicon Equities, a Nashville-based real estate investment firm, and Meritage Group LP announced the acquisition of Capitol View Plaza, a Class A office building in downtown Nashville’s Gulch neighborhood. David Atchison and Brian Casey of Colliers represented the seller. Stream Realty and Sandeema Co. have been engaged to market the building for lease.
BOSTON, Mass. — JLL Income Property Trust acquired Princeton North Andover, a 192-unit apartment community in North Andover, Massachusetts, a suburb north of Boston, for $72.5 million.
May 15, 2021 Realty News Report Copyright 2021
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Published by Realty News Report, RNR Real Estate Briefs is a compilation of regional and national news.