RNR Real Estate Briefs from Realty News Report — MAGNOLIA, Texas – Parkside Capital has sold 35 acres to The Farm League. The site, at the corner of State Highway 149 and FM 1488 in Magnolia, will be developed into a recreational sports complex. Parkside Capital, working with Gulf Coast Commercial, also developed the nearby Magnolia Village project, which includes a recently announced Lowe’s. Brett Walker, President of Parkside Capital, said the Farm League facility will be a high-quality recreational amenity for the community.
HOUSTON – Standard Real Estate Investments, LP, a national investment and development firm with offices in Los Angeles and Washington, D.C., is making an equity investment to build Veterans Memorial Business Park, a 463,000-square-foot industrial park in partnership with Investment & Development Ventures LLC (IDV). The rare infill site is located at 10326–10330 Veterans Memorial Drive in Northwest Houston. Construction is expected to begin in the second quarter of 2024.
HOUSTON — Colliers announced the sale of an 8,100-square-foot industrial building at 21315 Inverness Forest Blvd. in Houston. The buyer, Pillar Investment Group, was represented by Julia Ly of Oxford Partners. The seller, 315 Inverness, LLC, was represented by Mike Taetz of Colliers.
HOUSTON — Cresa, an occupier-focused commercial real estate firm, closed on a 14.8-acre tract on Becker Road near Waller-Tomball Road in Houston’s northwest outlier submarket. Brandon A. Wuntch and Drew Altmann of Cresa represented the buyer, Zermeno GTB, LP, which plans to develop an industrial park on the property.
THE WOODLANDS, Texas — Howard Hughes Holdings has begun construction to revitalize Grogan’s Mill Village Center in The Woodlands. The project will create a modern community hub anchored by a new library and a community center. The Woodlands is home to roughly 123,000 residents and employs around 72,000 people.
CONROE, Texas – SVN | J. Beard Real Estate handled the sale of a 4,800-square-foot industrial building on 2.5 acres at 14202 E Horseshoe Bend. Diana Gaines of SVN | J. Beard represented the seller, Flyball Property Management. The buyer, JP Wheel Supplies LLC, was represented by Matthew Clegg with Realty One Group Iconic.
HOUSTON — Howard Hughes Holdings announced the first retail and restaurant tenants for Village Green, the initial phase of the 70-acre mixed-use development in the emerging 925-acre Bridgeland Central urban district. Confirmed tenants include Jonathan’s The Rub, Sweet Paris Crêperie & Café, Crust Pizza Co., VeneFan Nail Spa, Teal Poppy, and Gelato & Co.
THE WOODLANDS, Texas – Huntington Properties, Inc. signed a 1,500-square-foot lease with Happy Life Taekwondo at the Shops at Alden Bridge on FM 1488. Jonathan Aron represented the landlord.
MANVEL, Texas — Tricoast Homes, a Houston-based residential builder, opened a model home in the Canterra Creek community south of Pearland.
THE WOODLANDS, Texas — SVN | J. Beard Real Estate relocated its headquarters to an expanded 10,191-square-foot office at 9320 Lakeside Blvd., Suite 250, in the Research Forest Lakeside campus adjacent to Hughes Landing. The firm also maintains offices in Houston, Montgomery, and Midland.
TEXAS — RNR Real Estate Briefs from Realty News Report
AUSTIN – Rastegar, based in Austin, closed a $31.7 million loan to finance construction of the first phase of Infinity Square, its 318-acre master-planned community in Kyle. Trez Capital provided construction financing for the initial 329 single-family homes. CastleRock Communities and Brightland Homes will acquire the first phase of lots. Infinity Square lies east of Interstate 35, about 21 miles south of Austin, and will include approximately 1,000 single-family lots, 1,400 apartments and 185,000 square feet of commercial space when complete.
SAN ANTONIO – The University of Texas at San Antonio and JLL announced a solicitation for a lead development team to design, finance, operate and maintain a mixed-use project on 28.5 acres of university-owned land at North Loop 1604 West and Kyle Seale Parkway.
DALLAS – Stream Realty Partners announced a 47,900-square-foot lease renewal with Cooper & Scully, P.C., at Founders Square, 900 Jackson St. in Downtown Dallas. Stream’s Rhett Miller and Sam Bass represented the landlord, Charter Holdings. John Ellerman and Jeff Ellerman of CBRE represented the tenant.
PLANO, Texas — Cadence McShane Construction Co. leased 16,242 square feet of office space at One Legacy Circle in Plano from Gildenson Real Estate. Jared Laake of Bradford Commercial Real Estate Services represented the landlord. Garrison Efird and Steven Blankenship of Newmark represented the tenant.
NATIONAL — RNR Real Estate Briefs from Realty News Report
LOS ANGELES, Calif. — Cushman & Wakefield announced the sale of 612 S. Broadway, an 80,000-square-foot landmark building in Downtown Los Angeles’ historic core. The six-story creative office and retail property sold for $16 million. The transaction was handled by Cushman & Wakefield brokers Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn and Kylie Rawn, in partnership with Mark Zakarian. The building was constructed in 1924 as Desmond’s Department Store and was designed by notable architect A.C. Martin.
NASHVILLE, Tenn. — TruAmerica Multifamily, a multifamily investment firm, acquired Charleston Hall, a 194-unit community in the Nashville area, in partnership with Spoke Real Estate Capital. Matt Ferrari is head of acquisitions and co-CIO of Los Angeles-based TruAmerica. Dennis Harris and Zac Wracher of The Kirkland Company represented the seller, and Rob Russell and Rich Kourbage of Greystone arranged debt financing for the buyer.
NAPLES, Fla. — The Egan Group, LLC purchased the 68,000-square-foot Truist office building in Naples’ Pelican Bay neighborhood, JLL Capital Markets announced. The seven-story building is approximately 90 percent occupied. The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano, Blake Koletic and Hunter Smith.
Aug. 3, 2024 Realty News Report Copyright 2024
Photo credit: Ralph Bivins, Realty News Report Copyright 2024
RNR Real Estate Briefs are published by Realty News Report.
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RNR Real Estate Briefs are published by Realty News Report.
Additional news briefs and past RNR Real Estate Briefs were reported on various dates including July 27, July 20, April 6, March 23, March 16, March 9, March 2, Feb. 24, Feb. 10, Feb. 3, Jan. 27, Jan. 6, Dec. 16, 2023, Dec. 2, 2023, and numerous other past issues.
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