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RNR Real Estate Briefs – from Realty News Report

HOUSTON – Spencer Hough and Tip Strickland of Newmark Knight Frank have closed the financing on a 17-building, 220,000-SF industrial portfolio. The flex industrial collection consists of Enterprise Park, a 153,835-SF, 14-building service center in Houston’s southwest industrial submarket and Town and Country Center, a 67,928-SF project in the West Houston/Outer submarket. NKF represented the borrower, CPM Holdings, LLC. The transaction was financed by St. Louis-based Reinsurance Group of America.

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NAI Partners recently arranged a 3,150-SF lease for Pediatric Dentist at 24022 Cinco Village Center Blvd., Katy. NAI Partners’ Jason Whittington represented the tenant and Dana Thompson and Blake Tartt of New Regional Planning represented the landlord.

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

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NAI Partners recently arranged a 4,888-SF office lease for Said Uddin, M.D., P.A., at 11301 Fallbrook Drive, Houston. NAI Partners’ Jacob Aldridge, Zach Leger and Lane Travis represented the landlord.

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Archstone Real Estate,LLC, has purchased three acres from a private investment group to develop a mixed-use project in a commercial corridor of northwest Fort Bend County. Glenn Dickerson of Houston-based NewQuest Properties represented the local seller in a direct deal with Archstone, which plans to build a retail-and-office project on 3.03 acres at Kingsland Boulevard and Main Street in Katy.

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

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Marcus & Millichap, LLC, has announced the sale of 10311 N. Eldridge Pkwy., a 19,080-SF retail property in Houston. The buyer, a limited liability company, was secured and represented by Justin Miller and Davis Hansenfrom Marcus & Millichap’s Houston office, and Dimitri Jordan from Marcus & Millichap’s The Woodlands office.

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JLL has arranged a $200.6 million credit facility for a portfolio of 18 single-tenant industrial properties totaling 1.7 million SF – 13 in Houston markets, two each in Austin and Dallas markets and one in San Antonio. JLL worked for the borrower, Welcome Group,LLC, represented by Welcome Wilson, Jr. and Ralph Fite, to place the $200.6 million, seven-year credit facility with Global Atlantic Financial Group. The portfolio is fully leased. Borrower’s legal counsel were Bill Boyar, Alex Parker and Cyrus Chin of BoyarMiller. The lender’s legal representatives were David Curfman and Tai Palacio of Brownstein Hyatt Farber Schreck. The JLL Capital Markets team representing the borrower was led by Tyler Ford and Tolu Akindele.

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Houston-based Leslie Doggett Industries will soon break ground on a $24 million project – a Doggett Ford dealership — on the North Freeway, just south of 249/West Mount Houston Road. The project brings a modern dealership and showroom to the once empty lot just north of Doggett Industries. Doggett’s Ford dealership is currently operating in temporary buildings.

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First Industrial Realty Trust, Inc. has executed two leases to bring First 290 @ Guhn Road at 6913 Guhn Road in Northwest Houston, to 100 percent leased capacity within four months from delivery. First 290 is a 126,250-SF bulk facility with 45,990 SF leased to Iron Mountain, an information management service company, and 80,260 square feet leased to Black Horse Carriers, a third-party logistics company. Matteson Hamilton and Jeremy Lumbreras with Stream Realty Partners handled 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 & Wakefield.

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AROUND TEXAS

 Ribbon Communications Inc., a global software company, has leased 107,000 SF at the Legacy Central campus in Plano. Baron Aldrine, Steve Rigby and Layne Mayfield with CBRE in Dallas represented Ribbon and Nathan Durham and Duane Henley with Transwestern in Dallas represented the landlord, Regent Properties.

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The Real Estate Council renewed a 6,285 SF lease in the Citymark Office Building at 3100 McKinnon in Dallas. Billy Gannon of Cushman & Wakefield represented the tenant. Richmond Collingsworth of Bradford Commercial Real Estate represented the landlord, 3100 McKinnon LP.

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Oden Hughes, LLC,signed a 6,009-SF lease in Toll Hill Office Park, 5440 Harvest Hill Road, Dallas. Preston Knowlton of Cushman & Wakefield represented the tenant. Addie Ludwig, Jeremy Duggins and Kristi Waddell of Cawley Partners represented the landlord, Toll Hill Office Partners, LP.

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Highland Homesr enewed a 41,919-SF lease in Parkwood Place I at 5601 Democracy Drive in Plano. Scott Hobbs of Cushman & Wakefield represented the tenant. Matt Wieser of Stream Realty Partners represented the landlord, Admiral Capital Group.

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Bradford Commercial Real Estate Services was selected to lease and manage Highland Park West, a boutique office building in Dallas. The new leasing team for the 51,847-SF building is Jared Laake and Richmond Collinsworth. David Simpson is spearheading property management initiatives for the owner of record, 4300 MacArthur Partners, LP. The building is located at 4300 MacArthur Ave., Highland Park.

Aug. 12, 2019 Realty News Report Copyright 2019

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