RNR Real Estate Briefs from Realty News Report – HOUSTON – Colliers completed the sale of 1314 West Sam Houston Parkway, a 64,846-square-foot industrial building located along Beltway 8, just north of Interstate 10. The property is occupied by Critical Rental Solutions under a long-term net lease. Todd Moore of Colliers represented the seller. “We received multiple offers, allowing the seller to choose a buyer based on price, terms and the ability to close,” said Moore, a principal at Colliers. “We ultimately closed with a 1031 exchange buyer who paid all cash at 97% of the asking price.”
HOUSTON – Newmark and Moody Rambin announced the sale of a two-building office complex totaling 115,001 square feet at 6250 and 6260 Westpark, near the Southwest Freeway. Newmark’s Spencer Hough and Connor Darling, together with Moody Rambin’s Jim Autenreith and Stephen Ghedi, represented the seller, Texas-based Presidium Group. The buyer was Westpark @ 59 Office Plaza, LLC.
HOUSTON – Rice Village announced that CB2, part of Crate and Barrel Holdings, will be its newest tenant. Known for curated collections and modern design, CB2 will lease 10,084 square feet at 2414 University. Burdette Huffman of The Blue Ox Group represented the landlord, and Kim Bernick with Transwestern represented the tenant.
HOUSTON — Montrose Collective will host the first brick-and-mortar retail location for ceramicist Amano, a shop featuring decorative concrete home and office items made by local fabricator Natural by Hagelsieb. Opening this fall, Amano—Spanish for “by hand”—is the work of Houston artist Myrna Hagelsieb. Montrose Collective is a joint venture between Radom Capital, a Houston-based real estate development firm, and JP Morgan Asset Management.
SPRING — Abdee Sharifan acquired a 4,340-square-foot office building on 1.97 acres at 1935 Old Holzwarth Road in Spring from G Holts, LLC. Bob Conwell of NewQuest Properties represented the buyer. Trey Martin and Darren O’Conor of NAI Partners represented the seller.
HOUSTON — Jersey Mike’s Subs leased 1,253 square feet of retail space in the Shoppes at San Felipe at San Felipe and North Voss roads in Houston from SF/Voss Ltd. Kevin Sims of NewQuest Properties represented the landlord. Lasater Miller and Lane Zieben of The Retail Connection represented the tenant. Jersey Mike’s also leased space at Rock Creek Shopping Center at Spring Cypress and Grant roads in Cypress from NewQuest Properties.
TEXAS– RNR Real Estate Briefs
WHITE SETTLEMENT, Texas – Dalfen Industrial acquired a fully occupied, 98,666-square-foot facility in White Settlement, in the West Fort Worth area. The property sits adjacent to the Lockheed Martin Aeronautics headquarters, where aircraft such as the F-35, F-22, F-16, C-130 and U-2 are produced. Built in 2017, West Tarrant Distribution Center is located at 1403 S Cherry Lane, near the I-820 Loop.
SAN ANTONIO, Texas — Cleveland-based NRP Group purchased 15 acres where it plans to build the 324-unit Copernicus Apartments. NAI Partners’ Carlos Marquez and Brett Lum brokered the deal. NAI Partners is also marketing an additional 52.33 acres near the site.
DALLAS – Crescent Real Estate, LLC continues to attract tenants to The Crescent, announcing a new lease with international law firm Vedder Price PC for 11,197 square feet in Building 100. In March, GPIF TC Owner LLC, an affiliate of Crescent, purchased the property. Crescent has managed and leased the facility since 1994.
FORT WORTH – JLL Income Property Trust, a real estate investment trust, leased its recently acquired Fort Worth Distribution Center to iDC Logistics. The tenant signed a lease for the newly constructed, 350,000-square-foot warehouse/distribution center. The agreement runs five years and includes annual rent escalations of 3%. Los Angeles-based iDC is an end-to-end logistics company.
SAN ANTONIO, Texas — Newmark announced the sale of a value-add multifamily portfolio that includes The Blair at Bitters and The Henry B, totaling 388 units in north-central San Antonio near the South Texas Medical Center and USAA headquarters. Both properties were 97% occupied at the time of sale. Newmark’s Matt Michelson represented the seller, Wildhorn Capital of Austin. The buyer was Kanesville Capital of Dallas.
DALLAS — Drew Crawford and William McCarthy of Finial Group arranged a lease at 1801 Royal Lane in Dallas. The tenant, Texas Security Solutions, LLC, signed a 3,711-square-foot lease at Westwood Business Park, a 12-building development that offers grade-level flex, dock-high flex and high-finish flex space totaling more than 227,000 square feet.
NATIONAL– RNR Real Estate Briefs
KANSAS CITY, Mo. — Colliers introduced the first speculative cold-storage industrial building to the Kansas City market. The Class A, 167,000-square-foot facility will be built in the Heartland Meadows Industrial Park in Liberty, Mo., with BCB Development targeting delivery in Q2 2022. The property is being marketed by John Stafford, along with Chris Cummins and Turner Wisehart of Colliers’ National Food Advisory Group.
BOSSIER CITY, La. — SRS Investment Properties Group brokered the sale of River Crest Shopping Center, a 22,140-square-foot retail center in Bossier City. The seller, Sealy River Crest I, LLC, sold the asset to Wen Jing Real Estate. Aaron Johnson and Brad Gibbs of SRS’s Dallas/Fort Worth office represented the seller.
MIAMI, Fla. — Orion Haus, a multifamily management company that positions properties to be short-term-rental friendly, completed one of the largest post-pandemic deals in the short-term rental sector, adding 10 buildings and 1,588 units to its U.S. portfolio across Austin, Memphis, Houston, Orlando and Atlanta.
RADFORD, Va. — Global contractor and developer Skanska was selected to build Radford University’s new Center for Adaptive Innovation and Creativity. The $80.5 million, 177,917-square-foot facility in Radford will replace existing space used by the College of Visual and Performing Arts.
BOSTON, Mass. — Center at Hudson, an 85,000-square-foot shopping center anchored by a Stop & Shop supermarket in Hudson, Mass., was sold to NNM Realty Trust. JLL Capital Markets represented and marketed the property on behalf of the seller.
PORTLAND, Ore. — Westland Investors acquired Tall Oaks Apartments, a 64-unit project on SW Caldwell Road in Gladstone, for $10,150,000. Westland worked with Greg Frick and Tyler Johnson of HFO to purchase the property from Jendi Properties.
May 22, 2021 Realty News Report Copyright 2021
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.
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Photo credit: Courtesy Colliers
Published by Realty News Report, RNR Real Estate Briefs is a curated compilation of regional and national real estate news.