Wednesday , 18 September 2019
Breaking News

Real Estate Briefs: Houston, Dallas, San Antonio and Austin by Realty News Report

Avera Construction recently broke ground for a 30,000 SF warehouse on a 7.2-acre site in Deer Park, less than 10 miles from the Port of Houston. The design-build single-story metal building featuring office space and workshop is for Atlas Copco Rental, LLC,a Swedish manufacturer of industrial tools and equipment.

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EDGE Realty Capital Markets brokered the sale of Meadow Edge Shopping Center at 20141 Interstate 45 in Spring. Burdette Huffman and Josh Jacobs of EDGE represented the seller, 20141 North Freeway, LLC. Sam Affanhe of Hunington Properties represented the buyer.

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Zach Armstrong of The J. Beard Real Estate Company, LP, represented the seller in the sale of a one-acre pad site at Harmony Commons,a mixed-use commercial development at Grand Parkway 99 and Discovery Creek Boulevard in Spring. A third location for The Republic Grille will be created there by the purchaser, Terry McBurney. The 6,000 SF restaurant is scheduled to open in the first quarter of 2020.

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NAI Partners recently arranged a build-to-suit lease for 9,500 SF of flex space to construct Robinson Road Business Park in The Woodlands. NAI Partners’ Nick Terry represented the landlord. JC Sports, a toddler and youth indoor/outdoor sports organization, will occupy its own building and provide age-appropriate sports programs for children age 2 and up.

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EDGE Realty Capital Markets brokered the sale of Pine Hollow Retail Centerand Wells Fargo – Pine Hollowat 5185 and 5175 W. 34th Street in Houston. Micha van Marcke and Chace Henke of EDGE represented the seller. Mark Davis of Davis Commercial represented the buyer.

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EDGE Realty Capital Markets brokered the sale of Spring Cypress Retail Center, a 7,837 SF facility comprised of corporate credit tenants,at 17814 Spring Cypress Road in Cypress. Micha van Marcke and Chace Henke of EDGE represented the seller. Kris Von Hohn of Cushman & Wakefield represented the buyer.

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JLL announced that Edgen Murray Corporationextended and expanded a lease at its northeast Houston pipe yard, adding 36 acres to the company’s existing lease at 8026 Miller Road for a total lease of 98 acres. The site, which includes a 150,000 SF industrial warehouse, is used for storage and distribution of pipes, valves, fittings, actuators and related products.

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Commercial real estate investment services firm Marcus & Millichap announced the sale of Bellaire Town Center, an 8,144 SF retail property at 13438 Bellaire Boulevard in Houston. Gus Lagos and Alex Wolansky of M&M’s Houston office had the exclusive listing.

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CP&Y has leased 8,000 SF in Kirkwood Tower, 11757 Katy Freeway. John Beach Jr. of Newmark Knight Frank represented the tenant. The landlord is Rosemont Kirkwood Tower Operating LLC.

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Luxury home builder Toll Brothers will, in early 2020, unveil Canopy at The Groves, its new exclusive gated collection within The Grovesmaster-planned community in Houston. The development will offer one-and two-story home designs ranging from 2,741 SF to 3,789 SF on 60-foot-wide sites.

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AROUND TEXAS

DALLAS – CBRE has announced new leasing activity at Parkland Knight, a boutique office building at Fairmount and Knight. LCM Group and Macfarlan Capital Partners took a combined 9,400 SF, resulting in full occupancy of the building’s third floor. Jackie Marshall and Ben Davis with CBRE’s office leasing team in Dallas represented the landlord.

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COLMESNEIL – Reed Vestal,  Taylor Schmidt and John Erck of Lee & Associates – Houston represented the buyer, Thomas & Dianne Paben, in the purchase of 435 acres on FM 256 in Colmesneil. The seller was LTP TimberQuest Fund, LP.

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ALLEN – JLJ Capital has partnered with BridgeInvest to provide a senior loan of $45.5 million to Sovereign Properties to develop Dolce Twin Creeks, Phase II,a 366-unit multifamily project on 10-plus acres in Allen, outside Dallas. Cottonwood Communities Inc. has also committed to loan up to $10 million for the project.

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DALLAS – David Glasscock with CBRE represented Dallas Habitat for Humanityin the sale and lease back of its Dallas/Fort Worth headquarters and retail location, a 133,134 SF industrial building at 2800 N. Hampton Road in West Dallas. Habitat for Humanity sold the building as part of a plan to financially rebuild under new CEO Dave Crawford.

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DALLAS – Crescent Real Estate, LLC, and J.P. Morgan Asset Management announced that with the addition of two new restaurants, the McKinney & Olive luxury tower is now 100% occupied in both office tower and retail portions. Opening in 2020, the upscale Hugo’s Invitados and a soon-to-be-announced all-day concept will bring the dining mix there to eight options. The 20-story, 536,000 SF structure opened in August 2016.

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DALLAS– Mueller Water Productsleased 26,250 SF of industrial space from East Group Properties at 775 North Royal Lane at Dallas/Fort Worth Airport. Steve Trese with CBRE represented the landlord and Nick Talley with Bradford represented the tenant.

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DALLAS-Mid-American Supply Corporationrenewed its 45,623 SF industrial lease at 11550-11570 Hillguard Road in Dallas. Trevor Atkins and John Hendricks with CBRE represented the landlord, GLP, and Mid-American Supply was represented by Tucker Cason with Mercer Company.

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SAN ANTONIO – JLL announced the sale of 800 Dolorosa in downtown San Antonio. The 51,508 SF office building is located at Dolorosa and Santa Rosa.  JLL’s Chuck King and Ben Jordan represented the seller, GTM Washington Square LTD.The property was acquired by 800 Painful LP, a Weston urban entity. The sale includes the office building on a 1.96-acre site, together with the surrounding 174-space surface parking lot.

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PLANO – CBRE announced its client, Spaces, a global coworking provider, will add four new locations totaling 173,395 SF of coworking space in the Dallas-Fort Worth area in the next six months. The first location at Legacy Central in east Plano is open, with three additional centers opening at the Shops at Legacy and West Plano Village in Plano, as well as The Epic in Deep Ellum.  The company currently operates locations in Uptown Dallas and Southlake. CBRE’s Baron Aldrine, Steve Rigby and partners Mike ClearyMike Kay and Pete Danna represented Spaces in site selection and lease negotiations.

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AROUND THE NATION: Miami Spotlight

JLL has arranged a $300 million construction loan for the development of 830 Brickell, a 1.03 million SF, 56-story marquis tower that includes nearly 615,000 SF of rentable space in the heart of Brickell, Miami’s financial district. JLL represented the developers, a joint venture between OKO Group and Cain International. The JLL Capital Markets team representing the borrower included Scott Aiese, Scott Wadler, Jesse Wright and Alex Staikos.

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Atlantic | Pacific Real Estate Group and Blue Arch Advisors have announcedthe closing of their co-sponsored fund, Blue Atlantic Partners III, which will focus on investing in existing multifamily communities. The fund’s target locations are affluent suburbs of major cities in the Southeast and Southwest.

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Pearlmark,the Chicago-based investment firm, has closed on a $44.65 million preferred equity investment for the development of Atlantic Crossing in Delray Beach, Florida.  The project will contain 261 luxury apartment units, 91,000 SF of commercial office and retail space, as well as 444 structured parking spaces. Bellwether Enterprise represented the borrower. Mark Witt of Pearlmark arranged the transaction.

Aug. 25, 2019 Realty News Report Copyright 2019

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