RNR Real Estate Briefs from Realty News Report — BAYTOWN, Texas — Gulf Coast Crating has signed a 432,000-square-foot industrial lease at Portside Logistics Center in Baytown. Patrick McKiernan of First Houston Properties represented Gulf Coast Crating; he has handled 1,227,000 square feet of industrial transactions in 2024 and is actively seeking additional space to secure in the fourth quarter.
HOUSTON — Partners Real Estate arranged an 11,762-square-foot office lease for Additech, Inc. at 3200 Wilcrest. Jason G. Whittington and John Zivley of Partners represented the tenant. The landlord was represented by Jill Nesloney of Cushman & Wakefield.
HOUSTON — Cushman & Wakefield represented Activate Games in a 12,078-square-foot lease for a new location at Grogan’s Mill shopping center. Eric Lestin and Michael Burgower of Cushman & Wakefield represented the tenant, while Adam Blustein of Global Fund Investments represented ownership. The Grogan’s Mill location, at 536 Sawdust Road, is Activate Games’ second Houston-area store; Lestin and Burgower also represented the company in its original Katy location at 20235 Katy Freeway.
CYPRESS, Texas — Colliers announced the sale of a 7.2-acre property at 15410 Telge Road. The seller, Alleyton Resource Company, was represented by Barkley Peschel of Colliers. The site lies in Houston’s Northwest Corridor within the Northwest Highway 6 industrial submarket, which contains roughly 20.9 million square feet of industrial inventory and is currently about 90.9 percent occupied.
HOUSTON — Oxford Partners represented Atelier Associates Services Center in a lease renewal at 5444 Westheimer. Ryan Hartsell of Oxford Partners represented the tenant. The landlord, Franklin Post Oak, Ltd., was represented by Dean Wilkens of Tanglewood Property Management Company.
PASADENA, Texas — Harbor Freight leased 20,810 square feet of retail space in Pasadena Town Center near Southmore Avenue from NewQuest. Bob Conwell of NewQuest represented the landlord; Jeff Scarborough of Scarborough Real Estate represented the tenant.
MONTGOMERY, Texas — Partners Real Estate arranged a 13,200-square-foot industrial lease with Direct Air Flow Distributors, LLC at 18904 Freeport Drive in Houston. Partners’ Travis Land and Braedon Emde represented the landlord, Kudzu Construction & Development. Griffin Rich with Newmark represented the tenant.
TOMBALL, Texas — Newcor announced the sale of a 27,375-square-foot tilt-wall building at the corner of Hufsmith-Kohrville and Spell Road, the main entrance to the Tomball Business and Technology Park. The facility was purchased by a biopharma company from the West Coast expanding operations into Texas. Rob Banzhaf is founder and CEO of Newcor.
TEXAS — RNR Real Estate Briefs from Realty News Report
AUSTIN — Partners Capital, the investment platform of Partners Real Estate Company, acquired Monterey Tech Center, a 74,335-square-foot office/flex property on 5.6 acres along Monterey Oaks Boulevard near Highway 290 and MoPac Expressway. The property is currently 16 percent occupied and is the third asset purchased through Partners Capital’s Opportunity Fund V. Partners Capital financed the acquisition with Brent Reed and Peyton Jones at Veritex Community Bank.
SEGUIN, Texas — The City of Seguin is seeking qualified development partners to redevelop the historic Nolte property adjacent to Central Park in downtown Seguin. The city recently purchased the site and is working with Douglas Architects to create a redevelopment plan. The City has issued a request for qualifications from experienced developers.
DENTON, Texas — JLL Capital Markets secured construction financing for Denton Point III, IV and V, a Class A industrial park in Denton. Working on behalf of the borrower, Holt Lunsford Commercial Investments, JLL arranged a five-year loan from First United Bank.
PLANO, Texas — TruAmerica Multifamily acquired Sheridan Park at Spring Creek, a 300-unit apartment community in Plano, for $50.3 million. The purchase includes the buildings and associated land and increases TruAmerica’s Texas portfolio to 12 assets across Austin, DFW, Houston, and San Antonio. The acquisition was made in partnership with Spoke Real Estate Capital. Ammanuel Metta is managing director of acquisitions at TruAmerica. TruAmerica and the seller were represented by Greg Toro and Rob Key of JLL; Brandon Smith and Annie Rice of JLL procured debt for the buyer.
ALLEN, Texas — CapturePoint, LLC signed a 27,317-square-foot renewal and expansion, adding 4,415 square feet of office space in the Office Campus at Allen on Central Expressway South. Jared Laake of Bradford Commercial Real Estate Services represented the landlord, 1101 SCE, LLC. Kent Smith of NAI Robert Lynn represented the tenant.
NEW BRAUNFELS, Texas — Trudy’s Hallmark leased 4,901 square feet of retail space in Creekside Town Center near Interstate 35 and FM 306 from NewQuest. Nick Ramsey and Kevin Sims of NewQuest represented the landlord; Jack Gallagher of KW Commercial represented the tenant.
FORT WORTH — AW Outlet, a national liquidation retailer, purchased a 23,879-square-foot retail building (formerly an Office Depot) on 1.7 acres at 6680 W. Freeway. Michelle Caplan and Matthew Rosenfeld with Weitzman handled negotiations for the seller. Sarah Lamb with DB2RE represented the buyer. The store sits in a shopping center anchored by Albertsons on the West Freeway.
NATIONAL — RNR Real Estate Briefs from Realty News Report
DENVER, Colo. — Lovett Industrial, a Houston-based real estate investment firm, completed construction on Broadway Logistics Center, a 201,329-square-foot front-park, rear-load industrial building at 6795 Broadway near W. 70th Ave. Drew McManus, Bryan Fry and Ryan Searle with Cushman & Wakefield in Denver are marketing the building for lease.
BROKEN ARROW, Okla. — Thorofare Capital, an affiliate of asset manager Callodine Group, provided a $23 million fixed-rate loan to a DLP Capital affiliate to refinance Dream Aspen Creek, a 240-unit apartment community in the Tulsa-area city of Broken Arrow.
ETC.
Southwire Opens at AllianceTexas
FORT WORTH — Southwire celebrated the grand opening of its Dallas–Fort Worth Customer Service Center in the AllianceTexas development. The ceremony included remarks from Ross Perot, Jr., chairman of Hillwood, the developer of AllianceTexas. The 1.2 million-square-foot distribution facility supports Southwire’s full range of offerings across commercial, residential, utility, industrial and engineered electrical solutions.
Refinance for 894,000 SF
FORT WORTH — JLL Capital Markets secured refinancing for Sylvania Industrial Park, an 893,738-square-foot multi-tenant industrial manufacturing facility in Fort Worth. Acting for CanTex Capital, JLL arranged a three-year floating-rate loan through MetLife Investment Management. Located on 54.9 acres, the property offers varying clear heights up to 50 feet, overhead bridge cranes, heavy power and rail access. Current tenants include Tyson Foods, TK Airport Solutions (a subsidiary of TKE), JR New Energy and Andes Coil Processors. Sylvania Industrial Park is well-positioned near downtown Fort Worth in the Meacham Field/Fossil Creek industrial submarket.
The JLL Debt Advisory team was led by Senior Managing Director Jim Curtin, Senior Director Jarrod McCabe, Associate Luke Rogers and Analyst Jordan Buck.
Aug. 23, 2024 — Realty News Report. Copyright 2024.
Second Street bridge in Downtown Austin. Photo credit: Ralph Bivins, Realty News Report, Copyright 2024.
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