RNR Real Estate Briefs from Realty News Report –HOUSTON – TBK CPA PLLC has leased 12,000 sq. ft. of office space at 5718 Westheimer Road. The firm is relocating from 2603 Augusta to the new Westheimer location. CBRE’s Marilyn Guion, Parker Duffie and Joel Douthit represented the landlord, 5718 Westheimer Road Investors LP, while Phillip Thompson of Thompson Commercial Real Estate represented TBK CPA PLLC.
HOUSTON – DCCM, a national provider of design, consulting, program and construction management services, has acquired RG Miller Engineers, Inc., an infrastructure engineering firm based in Houston that serves public and private clients. As part of the acquisition, industry veteran Jack Miller will remain president of RG Miller.
HUMBLE, Texas – California-based Bolour Associates acquired Northeast Pines, a 136-unit apartment community in Humble, for $9.62 million. Robert Su of Su Real Estate Group represented the seller at 18839 S. Memorial Dr. “Houston is expanding rapidly, and the City of Humble is a primary beneficiary of that growth, thanks to a lower cost of living and a local population in which nearly half of residents rent,” said Bolour CEO Mark Bolour. “Demand in this area of Texas is strong and expected to remain so.”
HOUSTON – Colliers announced that Idle Hands has signed a lease for 4,711 sq. ft. at the former Rosemont bar location at 910 Westheimer Road in Houston. The space is part of Montrose Collective, a mixed-use development by Radom Capital represented by Brittney Austin and Linda Rubiola of SHOP Companies. Wade Greene and Chris Nash of Colliers represented the tenant. Idle Hands, which opened its first location on Rainey Street in Austin, is owned by partners Matt Wolski and Andrew Hunter.
HOUSTON – Floor & Décor Design Studio has signed a new 10,750 sq. ft. lease at The Plaza on Richmond, a shopping center at 5177 Richmond Avenue in Uptown Houston. CBRE’s Jazz Hamilton and Rusty Lilley represented the landlord, and Joan Collum of Collum Commercial represented the tenant.
LEAGUE CITY, Texas – South Shore Medical Center, located at 6455 South Shore Boulevard in League City, has been sold to a California investor, according to Marcus & Millichap.
HOUSTON – State Fare Kitchen & Bar has leased 6,000 sq. ft. on Hughes Landing Restaurant Row at 1900 Hughes Landing Blvd. in The Woodlands. The restaurant features Southern favorites and contemporary classics. Jacob Weersing of Capital Retail Properties represented the landlord, and Kristen Barker of Wulfe & Co. represented the tenant.
HOUSTON – Faropoint Ventures purchased a single-tenant distribution property at 9820 Drysdale Lane in northwest Houston. The 26,448 sq. ft. building includes approximately one acre of secure outside storage. Jack Gaffney of Finial Group represented Faropoint, an investment firm focused on last-mile distribution facilities.
THE WOODLANDS, Texas — Greg Usher of Cypressbrook Company represented landlord Vista Woodlands Partners, Ltd. in the lease renewal of 7,178 sq. ft. of lab space at 3400 Research Forest Drive in The Woodlands. Dustin Cruz of CRESA represented the tenant, Aquapharm Pchem, LLC.
HOUSTON — Jim Cooper of Cypressbrook Company represented landlord E.P. Office Holdings LP in leasing 3,092 sq. ft. of office space at 4615 Southwest Freeway. Yolanda Gates of Connect Realty represented the tenant, Healthy You Wellness Clinic.
HOUSTON — John Hornbuckle of Cypressbrook Company and Ray Larson of Ray Larson Remax represented buyer QNJ Landholding, LLC in the acquisition of a 0.88-acre pad site at Kuykendahl Center at Kuykendahl and the Grand Parkway. The seller, Dickinson Village, LTD, was represented by Clay Trozzo of Property Commerce, JW, Inc.
TEXAS — RNR Real Estate Briefs
DENTON, Texas – CBRE announced the sale of The Ranch at Joyce Lane, a 64-unit multifamily community at 3401 Joyce Lane in Denton. Washington State-based Woodruff Capital Partners purchased the asset from Frisco-based N.O.I.S.E. Ventures as part of a strategy to deploy capital in Texas. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas represented the seller.
PLANO – Houston-based Whitestone REIT acquired Lakeside Market, a 163,000-sq.-ft. shopping center at 5809 Preston Road in Plano, adjacent to a new H-E-B under construction. The seller was Dallas investor JAH Realty. Built in 1999, the center is roughly 80.5 percent leased.
CONVERSE, Texas – Cushman & Wakefield facilitated the sale of The Heights at Converse, a 200-unit apartment community near San Antonio. John Carr and Ben Fuller of Cushman & Wakefield represented seller Acme Development LLC. Investors Management Group, a multifamily-focused sponsor, acquired the property.
AUSTIN — Berkadia arranged bridge financing for the acquisition of Lotus Village, a 222-unit apartment community in Austin. Brad Williamson of Berkadia Miami secured financing on behalf of a buyer affiliated with One Real Estate Investment of Miami.
WAXAHACHIE, Texas — North Grove, a master-planned community in northeast Waxahachie, is advancing its next phase with the purchase of more than 70 acres at The Oaks of North Grove subdivision. Younger Partners’ David Hinson brokered the transaction between buyer Bluebonnet Capital Partners of Carrollton and a private family seller.
DALLAS – Coupes Champagne Bar will open at The Shops at Highland Park in Dallas, offering wine, craft cocktails, small plates and desserts. Andy Anderson of Restaurant Properties Group represented Balthazar, LLC, d/b/a Coupes in the 10-year lease of the 4,058 sq. ft. space. Alex Johnson of Stockdale Investment Group represented landlord Highland Park Shops, LLC.
SAN ANTONIO — Stonemark Management is now managing The Oaks at La Cantera, a 124-unit apartment community at 15726 Chase Hill Blvd. Stonemark focuses on multifamily acquisition, financing, ownership, management and disposition across the Southeast, Texas and Mid-Atlantic regions and includes Stonemark Equities and Stonemark Management.
PILOT POINT, Texas — Ben McCutchin of Younger Partners brokered the acquisition of 152.67 acres on Pelzel Road for Gene McCutchin. The land, north of FM 455 and fronting Pelzel Road, adjoins roughly 260 acres Gene already owns and will continue to be used for agricultural cultivation and held as a long-term investment.
DALLAS – SM Bonnie View, LP sold about 10 acres in South Dallas a few months after purchasing the property. Buyer Smartway Logistics, a trucking company headquartered in Tracy, Calif., plans to develop the site for its operations. The asset sits just south of I‑20 between I‑35 and I‑45 at Bonnie View and Langdon roads.
FORT WORTH — Mmarooful H. Choudhury acquired 5.2 acres of raw land at 8661-8689 John T. White Road from Morteza Naghavi. Erik E. Blais of Bradford Commercial Real Estate Services represented the seller.
FORT WORTH – Preferred Apartment Communities, based in Atlanta, purchased Alleia at Presidio, a 231-unit multifamily community in Fort Worth. Jeff Sherman, the company’s president of multifamily, said the acquisition marks the company’s re-entry into the Dallas-Fort Worth market, which continues to lead the nation in population growth.
DALLAS – Hanover Property Co. announced the builder lineup for the $950 million BridgeWater master-planned community in Midlothian. The first phase will include 470 lots with John Houston Homes, Perry Homes, Highland Homes, American Legend Homes and TriPointe Homes.
PLANO, Texas – ESJ Capital Partners, a Miami-based investment firm, acquired Park Ventura, a single-story office and medical campus at 5025 W. Park Boulevard in Plano. The 194,000-sq.-ft. center is approximately 90 percent leased.
SAN ANTONIO – Essex Modern City, LLC is developing a mixed-use project on an 8-acre site at 51 Essex Street in downtown San Antonio. Kennedy Funding provided a $3.456 million land loan. Plans call for roughly 80,000 sq. ft. of retail, 80,000 sq. ft. of commercial office space and up to 800 residential units.
FARMERS BRANCH, Texas – Asurion, LLC subleased 5,936 sq. ft. of flex space at Valley View Commerce Center, 1861 Valley View Lane, from Strippit Inc. Brian Pafford of Bradford Commercial Real Estate Services represented the sublessor, and Michael Meaden of CBRE represented the sublessee.
ARLINGTON – Arden Group acquired a 12-building last‑mile industrial portfolio totaling 582,803 sq. ft. in Arlington. The seller, Fort Capital, was represented by the JLL Industrial Capital Markets team, including Stephen Bailey, Dustin Volz and Dom Espinosa, with analysts Wesley Gilmer and Pauli Kerr. The portfolio is located near E. Randol Mill Road.
NATIONAL — RNR Real Estate Briefs
NEW YORK, N.Y. — JLL Capital Markets secured $56 million in construction financing for 202 E. 23rd St., a 20-story, mixed-use passive-house-designed building in Manhattan’s Gramercy Park submarket. The project will total about 90,000 sq. ft. with 108 residential units: 80 market-rate and 28 affordable. JLL represented sponsor SMA Equities and placed the construction loan with Bank Leumi USA. Evan Pariser of JLL represented the borrower.
CORONA, Calif. — Lee & Associates closed a $23.6 million sale for a new 99,560-sq.-ft. distribution facility at 959 E. 3rd St. in Corona. Justin Chiang and Kevin Ching of Lee & Associates – City of Industry represented the buyer, Millbury Home, LLC, an international furniture manufacturer, distributor and e-commerce company.
BOSTON — Thomas Park Investments acquired its first Greater Boston medical office building with the purchase of Merrimack Medical Center, a 55,000-sq.-ft. facility at 62 Brown Street in Haverhill, Mass.
VERO BEACH, Fla. — Boca Raton-based Waypoint Residential acquired 22 acres in Vero Beach for a planned multifamily development of approximately 176 units.
RENO, Nev. — Lansing Companies acquired 1,500 acres in the Reno area, land zoned for roughly 5,000 homes plus supporting commercial space as part of a master-planned community strategy.
July 10, 2021 Realty News Report Copyright 2021
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