HOUSTON – (RNR Real Estate Briefs) – Banorte Securities International, Ltd. has signed a 10,000-square-foot headquarters lease in the Galleria Financial Center, a 12-story office tower located within the Galleria mall. Win Haggard, Brad Beasley and Cameron Colvill of Cushman & Wakefield represented the ownership group, which is affiliated with Azrieli Group and Unilev Management, in the transaction.
HOUSTON – Sheffield and Sheffield signed a lease for 20,000 square feet at Woodforest Shopping Center, 11081 East Freeway. Shawn Ackerman and Jason Du of Henry S. Miller Brokerage in Houston represented both the tenant and the landlord, Woodforest Mini-City Partners, LLP.
HOUSTON — Herman & Kittle Properties is developing a new 264-unit affordable apartment community called The Vireo in northeast Houston. Located at 12212 Tidwell Road near Texas State Route 8 and the Crosby Freeway, the $38.5 million project is scheduled for completion in November.
HOUSTON — Gibbs & Cox, Inc., a naval architecture and marine engineering firm, announced the expansion of its services into Houston. The office will be led by Todd Carrico. Initially, employees will work remotely, with plans to open a physical Houston location as pandemic recovery progresses.
HOUSTON – Weingarten Realty reports that construction on its 30-story residential tower, The Driscoll at River Oaks, is nearing completion, with 25% of apartments leased. The $150 million, 318-unit development is located at the River Oaks Shopping Center on West Gray Street near Shepherd Drive. The tower was designed by Ziegler Cooper Architects.
Texas
AUSTIN — NAI Partners, a privately held Texas commercial real estate firm, arranged the sale of Davenport 360, a 37,500-square-foot Class A office property at 6001 Bold Ruler Way in Austin, to Pharmacists Mutual Insurance Group. NAI Partners represented the buyer, while Cushman & Wakefield represented the seller.
AUSTIN — Partners Capital, the investment arm of NAI Partners, closed on Trails at 620, a retail property located at 8300 N. FM 620 in Austin. Partners Capital worked with Drew Fuller at JLL to complete the acquisition, with financing provided by Peyton Jones at Veritex Bank. Partners acquired seven of the 17 buildings at Trails at 620, totaling 69,037 square feet on 15 acres.
AUSTIN – Trendmaker Homes, a TRI Pointe Group company, acquired 152 lots in Leander, Texas within the Bar W Ranch master-planned community. The planned single-family homes on 41-, 50- and 60-foot lots will offer Hill Country views and riverfront frontage.
BRYAN, Texas – Rapid Express Car Wash purchased a 0.9-acre outparcel in the Walmart-anchored Rudder’s Landing shopping center as it expands to its 13th location in south-central Texas and third in the Bryan-College Station market. The site at 1632 W. Villa Maria Road sits within the 652,522-square-foot center and was acquired from developer Crossfulton Investments Ltd. J.J. McDermott of Houston-based NewQuest Properties represented the buyer, which plans to begin construction within 90 days.
MIDLOTHIAN, Texas — Ground was broken for Jordan Run Estates Phase IV, a ranch-style community offering 74 one-acre home sites near Midlothian. HSM Jordan Run Estates IV, LLC purchased the 99-acre property off Norrell Road and Katrina Run, south of FM 875. Carnegie Homes and Elmwood Custom Homes are the featured builders. Lots are expected to be delivered in fall 2021.
FORT WORTH — Pacific Premier Bank sold a 10,000-square-foot retail building on 1.11 acres at 1751 Eastchase Parkway to J-S Woof Enterprises Inc. Richmond Collinsworth and Leigh Richter of Bradford Commercial Real Estate Services represented the seller. Dawn Sumrall of Keller Williams Arlington represented the buyer.
DALLAS — Crescent Real Estate, LLC has repositioned 2401 Cedar Springs in Uptown Dallas, presenting the property as a fully renovated building. Crescent and JLL are marketing the full 200,000 square feet of updated space, which includes tenant safety measures and COVID-19 protections. The renovation was designed by Corgan.
ADDISON — Ship It AOG, LLC renewed its lease for 14,000 square feet of flex space at 4309 Lindbergh Drive. Brian Pafford and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, 4301-21 Lindberg Limited.
SAN ANTONIO — NorthMarq arranged $24.6 million in acquisition financing for The Park on Wurzbach, a 264-unit multifamily property at 4707 Wurzbach Road. NorthMarq structured a 10-year loan through its in-house Fannie Mae team on behalf of borrower Venterra Realty. Originating producers included Faron Thompson, Ali Meek and Matthew Bronstein.
ALLEN — Kidz Therapy Zone renewed a 3,197-square-foot lease at Office Campus at Allen Building 2, 1101 Central Expressway S. Jared Laake and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, 1101 SCE, LLC. Kent Smith of NAI Robert Lynn represented the tenant.
National
NEWPORT BEACH, Calif. — Lee & Associates reported the sale of a 24,600-square-foot industrial building at 625 S. Fee Ana St. in Placentia for $5,227,500. The buyer, PKR Investments, was represented by James deRegt and Jonathan Mejia of Lee & Associates – Newport Beach. The seller, Temporary Power Solutions, was represented by Keith Greer of CBRE.
BOSTON — Allianz Real Estate, acting on behalf of Allianz Group companies, signed an agreement with a joint venture between Clarendon Properties and a BlackRock-managed fund to refinance a $150 million loan on 265 Franklin Street. The 21-story, 350,534-square-foot office tower sits in Boston’s Financial District.
ORLANDO, Fla. — Marcus & Millichap brokered the sale of MetroWest Center, a 28,282-square-foot office building in Orlando, for $7,350,000.
MURRIETA, Calif. — Lee & Associates completed a long-term lease with Floor & Décor for approximately 81,100 square feet of retail space at Murrieta Town Center, 39835 Alta Murrieta Drive. Brian Bielatowicz and Ted Rivenbark of Lee & Associates’ Temecula Valley office represented the landlord. The tenant was represented by Jeff Nichols and Ryan Sullivan of CBRE.
NEW YORK — Taconic Partners and Nuveen Real Estate announced plans to convert 125 West End Avenue into a modern life science building. The eight-story, approximately 400,000-square-foot building was originally constructed as an automotive facility by Chrysler.
DENVER — Oak Coast Properties arranged the $123.5 million acquisition of ArtWalk Apartments at City Center, a 438-unit, transit-oriented apartment community in Englewood, Colorado. JLL Capital Markets secured a Freddie Mac Optigo loan of about $87 million to support the acquisition. Jordan Robbins and Pamela Koster of JLL represented the seller.
ROSEMONT, Ill. — Nick Eboli and Andrew Block of Lee & Associates’ Illinois office represented owner DRA Advisors in a long-term lease of 51,277 square feet in Naperville. Michael Magliano of Cushman & Wakefield represented tenant ASK Products, Inc. Eboli and Block, working with Walter Murphy, also brokered a separate 36,360-square-foot lease in Naperville, representing the owner while John Hamilton of CBRE represented tenant D2K Traffic Safety. Additionally, a Lee & Associates broker represented the owner of 770 Hawthorne Lane on an 8,162-square-foot lease to Pro-Safety, represented by Mikus Kin of Be Commercial Realty.
International
Lincoln Rackhouse, Sprott Korea Investment Acquire London Data Center
DALLAS — Lincoln Rackhouse, the data center division of Lincoln Property Co., completed its first international acquisition in partnership with Sprott Korea Investment, purchasing a 145,000-square-foot data center in Camberley, part of London’s data center market.
The transaction is a partial sale-leaseback with a Fortune 100 financial institution, which retained a long-term lease for 50% of the facility. Lincoln Rackhouse will market the remaining space and capacity to enterprise users and data center operators.
“We are proud of the data center portfolio we’ve built in the United States. By adding a high-quality asset in London, one of the world’s leading data center markets, we are advancing our platform globally,” said Martin Peck, executive vice president and leader of Lincoln Rackhouse.
Oct. 31, 2020. Realty News Report. Copyright 2020.
File: RNR Real Estate Briefs
Caption: Houston skyline. Photo credit: Ralph Bivins, Realty News Report. Copyright 2020.
File: (2) Houston, Dallas, Austin, San Antonio. Transactions. RNR Real Estate Briefs 2020