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Real Estate Briefs by Realty News Report – Deals in HOU, ATX, DFW and SA

Houston real estate briefs (Realty News Report)

Lee & Associates – Houston represented BSR Investments Co.in the sale of a 143,332-SF industrial property at 9411 Alcorn Street in Houston. Mike Spears, Derek Rigglemanand Robert LaCoure of Lee & Associates – Houston represented the seller, and Abbas Rajabi with Mohegan Capital, LLC, represented the buyer, Mohegan Alcorn, LP.

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Marble Capital, LP, has leased 5,907-SF in the Park Laureate building at 10000 Memorial Drive in Houston. Mark Russell of Newmark Knight Frank represented the tenant. Fuller Realty Partners represented the landlord.

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Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston represented the seller, Vigavi Realty, LLC, in the sale of 9 acres on FM 529 in Katy. Devin Rogers with Hrothgar, LLC, represented the undisclosed buyer.

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St. Jude Candle Companyhas renewed its lease of 79,370-SF at 4851 Homestead Road in Northway Park. The firm has also expanded into some 40,000-SF in the nearby Eastpark Industrial Park at 4769 Eastpark Drive.

JLL’s Travis Secor and Ryan Fuselier represented St. Jude. The owner of both buildings, First Industrial Realty Trust, was represented by David Munson of Boyd Commercial.

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John Hornbuckle of Cypressbrook Company represented the landlord, Nuveen Real Estate, in leasing 55,826 SF at 8575 Volta Drive. Jim Stark of CBRE represented the tenant, Neutrons Holding, Inc.

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Pomona, a Hillwood communities development in the Highway 288 corridor in Manvel, has added Toll Brothers, one of the state’s largest homebuilders, to its list of construction firms. Toll Brothers has broken ground on its two new model homes in Pomona, which opened July 20.

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Oilfield Testing and Consultinghas opened a 14,800-SF office and laboratory space at Grandway West in Katy. OTC is the only independent cement and drilling fluid testing lab in the Houston area. The new office and state-of-the-art laboratory, designed and built by Urban Companies, was constructed to meet highly-specialized needs of the energy industry.

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Grandway West, an 85-acre joint venture development of InSite Realty and Urban Companies, is located at 2010 Grandway Drive. JLL’s Jordan Raney and David Buescher represented OTC in the transaction. Insite Realty’s Rives Nolen, John Stavinoha and Steve Hazel represented Urban Companies.

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JLL has secured refinancing for 1225 NorthLoop, an 11-story, 200,418-SF office building in the North Loop submarket of Houston.Working on behalf of the borrower, 1225 North Loop Investments Inc., JLL placed the 25-year, self-amortizing, fixed-rate loan with CUNA Mutual Group. The JLL Capital Markets team representing the borrower was led by director Michael Johnson and analysts Jett Lucia and Robby Derrick.

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JLL has closed the sale of Sunrise Lake, a 74,612-SF, mixed-use property in Pearland. JLL marketed the property on behalf of the seller, TIG Real Estate Services, and procured the buyer. Sunrise Lake is located at 9307 and 9223 Broadway Street. The JLL Capital Markets team of John Indelli and Bryan Strode represented the seller.

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NAI Partners recently arranged the sale of a 341,252-SF, 14-building industrial portfolio for Aero Greensmor, LP,at 2700 Greens Road in Houston.NAI Partners’ Joshua Lass-Sughrue, Chris Kugle and John Ferruzzo represented the seller.

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Skanska is bringing a new cocktail bar to Understory, the 35,000-SF hub and culinary market at its new Bank of America Tower downtown. Silver Lining,a new concept from local duo Roveen “Ro” Abante and Florenico “Diko” Jopio III, is set to open later this summer. Nick Hernandez, Crystal Allen and Lacee Wilke from Transwestern represented Skanska and Silver Lining in the lease transaction.

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First Industrial Realty Trust, Inc. has completed two leases that will bring First 290 @ Guhn Road to full capacity. First 290, located at 6913 Guhn Road in Houston, is a 126,250-SF bulk distribution facility with 45,990 SF leased to Iron Mountain, an information management service company, and 80,260 SF leased to Black Horse Carriers, a third-party logistics company. Matteson Hamilton and Jeremy Lumbreras with Stream Realty Partners handled the leasing efforts for First 290. Iron Mountain was represented by John Talhelm and Kevin Erck with Jones Lang LaSalle. Black Horse Carriers was represented by Stephen Schneidau with Cushman and Wakefield.

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Lee & Associates – Houston represented HPI Holdings II, LLC in the lease of 2,841-SF of industrial space at 16623 West Hardy Road in Houston. The tenant is Filtration Solutions, LLC. Mason AlsbrooksDrew Aston and John Gazzola of Lee & Associates – Houston represented the landlord.

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Lee & Associates – Houston represented HPI Holdings II, LLC in the lease of 6,027-SF at 15721 West Hardy Road in Houston. The tenant is Juan Herrera. Mason AlsbrooksDrew Aston and John Gazzola of Lee & Associates – Houston represented the landlord. ……………………………………………………….

………… Around Texas ……….

Newmark Knight Frank announces that OVHcloud has leased 15,000 SF at Riverside Commons in Irving, Texas, owned by Brookfield Property Group. NKF’s John Wolf represented OVHcloud in the transaction. Roubaix-based OVHcloud is a large European cloud computing company.

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The LeClaire Group of Marcus & Millichap announces the sale of AAA Self Storage, a 65,950 net rentable SF storage facility in Bellville, Texas, about 30 miles from the Houston suburbs.Dave Knobler from Marcus & Millichap’s Houston office and Charles “Chico” LeClaire from Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, an Austin-based partnership.

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CBRE has arranged financing to acquire Thrive, a garden-style student housing community in Lubbock, 2.5 miles from Texas Tech University’s academic core. The 744-bed/264-unit mid-rise community at 210 N. Winston Ave., was completed in 2004 and was recently upgraded with more than $1.6 million in renovations that included updating the clubhouse, fitness center and amenity areas. Benjamin Roelke and Ian Walker with CBRE Capital Markets’ Debt & Structured Finance team in Dallas arranged the financing for the second acquisition in a newly formed joint venture between TEXLA Housing Partners and a private equity real estate fund advised by Crow Holdings Capital

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On behalf of RealtyLink & Oakridge Investments, CBRE announces the opening of the first retail anchor tenants in Crossroads at Terrell, a 275,000-SF retail development at Interstate 20 and FM 148 in Terrell. Ross, Hobby Lobby, Five Below and Burke’s Outlet are now open, joining Film Alley, an eight-screen movie theater; arcade, bowling alley and entertainment facility that opened earlier this year.Andrew Lehner with CBRE is marketing the project on behalf of RealtyLink.

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NAI Partners San Antonio recently arranged a 19,950-SF industrial lease for FinishMaster, Inc. at 5202 Rittiman Road in San Antonio, Texas. NAI Partners’ Brett Lum represented the tenant. With more than 210 branches across the country, FinishMaster is an automotive and industrial paint refinishing industry.

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Global real estate firm Harwood International recently announced a new acquisition to its portfolio of properties. The Dallas-based firm partnered with Waterfall Asset Management to purchase the Citymark building in Uptown Dallas. Morgan Staub and Rob Steinwedell of Harwood International negotiated the purchase. The Class A building is located at 3100 McKinnon St., on a 3.7-acre site, and is made up of an 11-story office tower, four-level parking garage and half-acre developable parcel.

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Brennan Investment Group has announced the sale of 8220 Ambassador Row in Dallas. The property is 100 percent leased to Delivery Limited.

Chicago-based Brennan continues to seek investment opportunities throughout the Texas Triangle. Brennan owns 64 buildings in the Texas region.

Aug. 5, 2019 Realty News Report Copyright 2019

 

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