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Realty News Reports’ Real Estate Briefs

CityPlace, a new, urban, mixed-use district anchoring Springwoods Village, has executed a restaurant lease with Common Bond Cafe & Bakery, owned by Houston-based entrepreneur George Joseph. The shop that will occupy 4,289 SF with a patio on the ground floor should open in the first quarter of 2020. Common Bond was represented by Alan Chodrow and Shane Karstendiek of Chodrow Realty Advisors. Nick Hernandez and Crystal Allen of Transwestern, along with Dennis Tarro of Patrinely Group, represented CityPlace, a joint venture of Patrinely Group, USAA Real Estate and CDC Houston.

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NAI Partners recently arranged a 67,000 SF industrial lease for Specialty RTP, LLC, at 13125 Royal Drive.  NAI’s Nick Peterson represented the tenant and the same firm’s John Ferruzzo and Ryan Searle acted on behalf of the landlord.

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Tecovas, maker of affordable, handmade leather boots and accessories, signed a lease for 3,500 SF in Rice Village. The storefront at 2400 University Blvd. will be Tecovas’ entry into the Houston market. Its first brick and mortar store is located in Austin. JLL’s Mark Raines and Matt Parsons represented the tenant.

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NAI Partners recently arranged a 10,125 SF industrial lease for Coastal Shower Doors at 4747 S. Pinemont Drive.  The firm’s Jake Wilkinson represented the tenant.

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Greg Usher of Cypressbrook Company represented RMG Americas in the leasing of 5,000 SF of office/warehouse space at 8460 North Sam Houston Parkway W. Mason Alsbrooks of Lee & Associates represented the landlord, BCC Management, LLC.

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Lee & Associates – Houston represented Roger Ward,Inc. in the lease of a 33,750 SF industrial space at 3700 Claymoore Park Drive. Mike Spears and Justin Cole from Lee & Associates represented the landlord and Max Robbins with TruCore Commercial, LLC, represented the tenant, Prairie Supply, Inc.

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Hobby Lobby recently leased 47,768 SF in Fairway Center at Fairmont Parkway & Beltway 8 in Pasadena. Debbie Adams of EDGE Realty Partners represented the landlord and Scott Shillings of Riverway Retail represented the tenant.

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Houston Sales

Lee & Associates – Houston represented C & L Partnership, Ltd. in the sale of 5.74 acres on South Gessner in Missouri City. Preston Yaggi of Lee & Associates represented the seller and Darren O’Conor and Jake Wilkinson with NAI Partners represented the buyer, Bison Warehouses, LLC.

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Lee & Associates – Houston represented Exquip Property, LLC, in the sale of a 15,888 SF industrial property at 4512 Pinemont Drive. Preston Yaggi of Lee & Associates and Robert Noack with Keller Williams Platinum represented the seller and Marilyn Muguerza with Intero Real Estate Services represented the buyer, Salamanca Holdings,LLC.

Texas Real Estate Briefs

Compass Bank has leased 32,766 SF at 1703 West 5thSt., Austin. Eric DeJernett, and John Gump with CBRE in Austin represented the tenant. Rachel Coulter, with JLL, represented the landlord, Atx Jll Plaza, LLC.

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Perkins Eastman Architects, DPC, renewed a 10,998 SF lease at 3131 Turtle Creek Blvd. in Dallas. Phil Puckett, Neal Puckett and Harlan Davis of CBRE represented the tenant. Lauren Napper and Trey Smith of Cushman & Wakefield represented the landlord, STRS Ohio TX Real Estate Investments, Inc.

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Reel FX signed a 25,264 SF lease at 717 N. Harwood St. in Dallas. Billy Gannon of Cushman & Wakefield represented the tenant. Josh White and Chelby Sanders of CBRE represented the landlord, WC 717 N. Harwood Property.

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Sageview Partners, LLC, has purchased 69,498 SF on 3.62 acres at 4372 North Loop 1604 in San Antonio. The property was bought as a value-add investment and currently is 77% occupied. Jason Adkison and Scott Boynton with CBRE in San Antonio represented the buyer.  The seller, Pond Hill, SA, LLC, was represented by James and Amber Japhet.

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Accttwo Shared Services, LLC has leased 5,749 SF at 5050 Quorum Drive in Dallas. Preston Lynn with CBRE in Dallas represented the tenant and Chase Lopez with Stream Realty represented the landlord, G&I Viii 5050 Quorum, LP.

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HFF has closed the sale and arranged financing for Westlake Place, a five-story office building totaling 61,740 SF in Austin. HFF marketed the property on behalf of Moore & Associates, Inc., and procured the buyer, Oakpoint Real Estate.  HFF also worked on behalf of the buyer to secure the 10-year, fixed-rate acquisition loan through Lincoln Financial Group.

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National Real Estate Briefs

JLL’s Capital Markets has secured $31.5 million to refinance Storage Rentals of America– Belleville, a five-building property consisting of some 400,000 gross SF in Belleville, N.J. Wes Wallace led the JLL team on the financing on behalf of SROA Capital. An undisclosed life insurance company provided a 7-year fixed-rate non-recourse loan.

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Investcorp, a leading global provider and manager of alternative investment products, announced that its U.S.-based real estate investment team acquired a portfolio of eight single-tenant distribution properties in various locations across the U.S. for a combined purchase price of some $170 million. The properties total 1.4 million SF and are 100% leased. The markets in the portfolio include Chicago, Phoenix, Jacksonville, St. Louis, Missouri; Charlotte, N.C.; Cincinnati, Cleveland and San Antonio.

May 6, 2019 Realty News Report Copyright 2019

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