Thursday , 12 December 2019
Breaking News

Real Estate Briefs – HOU, AUS, DAL, SAT and National News

Lee & Associates – Houston, a nationwide commercial real estate services firm, has been engaged by Hardy Properties at Intercontinental to lease its divisible 865,000 SF business park at 15534 West Hardy Road, Houston.

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NAI Partners recently arranged the lease of 13,750 SF in a standalone manufacturing building at 9797 Galveston Road for tenant Xterra Trench Shieldsi n Houston. NAI Partners’ Clay Pritchett and Zane Carman represented the landlord, Walia Estates.

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Experimental Culture Media Productions and Consignment LLC leased 1,950 SF at Northgreen Business Park, 1404 N. Sam Houston Parkway East.  Garret Geaccone and Boone Smith with Stream Realty Partners represented the landlord, Agellan Real Estate Investment Trust.

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Lee & Associates – Houston has added a medical business line to its portfolio. The new division includes such services as market evaluation, site selection, purchase vs. lease comparison, lease analysis and negotiation strategy. Daniel Wyatt, a Lee associate, specializes in medical office brokerage. He has a background in financial and business development for several prominent health care leaders in Houston.

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Fort Bend Habitat for Humanity leased 16,072 SF at Sugar Land Business Park, 505 Julie Rivers Drive. Claudia Wright with R&W Real Estate represented the tenant. Boone Smith with Stream Realty Partners represented the landlord, Alpha Industrial Properties.

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A&R Logistics has engaged Charles G. Fertitta Jr. of Colliers International Houston in a multi-year exclusive agreement to provide occupier advisory services for all U.S. real estate. A&R Logistics provides dry bulk transportation and supply chain solutions. Fertitta will be the primary point of contact and lead a team of real estate advisors, logistics and supply chain experts and site selection specialists.

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NAI Partners recently arranged a 3,724 SF office lease for GBS Insurance Agency at 6300 West Loop South in Houston. NAI Partners’ Jacob Aldridge represented the tenant in the transaction.

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Blue Wave Car Wash leased 8,611 SF at Jameel Business Center, 8700 Jameel Road. Erskine Black with Transwestern represented the tenant. Boone Smith with Stream Realty Partners represented the landlord, Brennan Investment Group.

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A partnership among Nitya Capital, Silverpeak and the Olayan Group was formed with the completion of a $150 million recapitalization of a portfolio of five Class B multifamily assets in Houston. Nitya, led by Swapnil Agarwal, will retain its role as an assets owner-operator. Totaling more than 1,500 units, the portfolio is comprised of five separate workforce housing properties in Houston submarkets.

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AV8 MRO leased 28,933 SF at West by Northwest BusinessPark, 6100 West by Northwest. Stephen Schneidau with Cushman & Wakefield represented the tenant. Boone Smith and Matteson Hamilton represented the landlord, Agellan Real Estate Investment Trust.

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NAI Partners recently arranged the sale of 7311 Galveston Road, a 12,000 SF freestanding industrial building in Houston. NAI Partners’ Nick Terry represented the seller. Hunter Brown and Nelson Ellis of Brown & Co. Realty represented the undisclosed buyer.

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Hugh M. Cunningham renewed its lease of 18,000 SF at Long Point Business Park, 6600 Long Point Road. Trace Elrod with NGKF represented the tenant. Boone Smith with Stream Realty Partners represented the landlord, Agellan Real Estate Investment Trust.

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JuiceLand leased 1,292 SF in the Bellaire Town Center at Bellaire Boulevard and S. Rice Avenue in Bellaire.  Brooks Shanklin and Josh Jacobs of EDGE Realty Partners represented the landlord and Chris Reyes and Tyler Trevino of Shop Companies represented the tenant.

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Mikail International, Inc., dba Zprepay,renewed its lease of 1,735 SF at Bluebonnet Service Center, 4252 Bluebonnet Drive. Garret Geaccone and Boone Smith with Stream Realty Partners represented the landlord, DRA Advisors.

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Panattoni has broken ground on its newest industrial project. Located in Houston’s northwest submarket at Highway 249 and Beltway 8, the development will consist of four distribution buildings totaling 816,920 SF in a 64-acre, master-planned, deed-restricted corporate park. Beau Kaleel and Stephen Schneidau of Cushman & Wakefield will oversee leasing.

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Newmark Knight Frank reports the following transactions in Houston this month:

Empyrean Benefit Solutions Inc.entered into a new 108,109 SF office lease with Pinnacle Tennant LLC at Pinnacle Westchase, 3010 Briarpark Drive. David Husid, Derek Myers and Taylor Scheps of NKF represented the tenant.

IV-AGA, Texas, LLCextended a 6,454 SF office lease with BDS 1 TX 1500 Citywest LLC at 1500 Citywest Blvd. Joshua Brown and Audrey Selber of NKF represented the tenant.

Sunday Riley Modern Skincareexpanded a 3,141 SF office lease with River Oaks Commercial, 4444 Westheimer. Audrey Selver and Reggie Beavan III of NKF represented the tenant.

Zarvona Energyexpanded a 2,251 SF office lease with McKinney CBD Houston, LLC at 1001 McKinney St. NKF’s John Luck represented the tenant.

Peter K. Jameson extended a 1,444 SF office lease with 2001 Kirby Building Inc. at River Oaks Bank Building, 2001 Kirby Drive. NKF’s Steve Biegel represented the tenant.

Flint CPS Inks North America, LLC, has sold 5.71 acres at 1010 Lockwood Drive to CDAB IV, LP.NKF’s Rob Stillwell represented the seller.

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SGRE Stone Center Ltd. has sold the 16,142-sf Hearthstone Professional Plaza, 15003 FM 529, Houston, to Signal Hearthstone LLC. Chris Dray and Rachael Keener of NewQuest Properties represented the seller. Eugene Lang of Agate Properties represented the buyer.

Texas Real Estate Briefs

Admiral Capital Group’s core-plus investment platform has acquired Fourteen555, a 249,564 SF, Class A office building in Dallas’ Lower Tollway submarket. Fourteen555 was developed by Cawley Partners in 2018 on the Dallas North Tollway, just north of I-635. The property is comprised of a six-story office building and a three-story amenity building, featuring a full-service restaurant, fitness center and an open-air, covered terrace with lounge seating. Fourteen555 is 95 percent leased.

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The retail division of NAI Robert Lynn’s Fort Worth office recently landed Ollie’s Bargain Outlet, a retailer of closeout merchandise and excess inventory, as a new tenant in Camp Bowie West Centerat 7909 Camp Bowie W. Boulevard. Ollie’s is opening a 39,000 SF store, the first in Tarrant County. Todd Hubbard, Jon McDaniel and Bobby Montgomery, all from NAI, represented the property owner, Sutherland Building Material Centers, and secured the new lease with Ollie’s.

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NAI Partners recently arranged a 1,500 SF retail lease for Austin Weight Loss Clinicat San Marcos Place in San Marcos. NAI Partners’ Joe DeCola and Todd Mahler represented the landlord, PCRIF San Marcos Place.

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CBRE announces that SML RFID, a global apparel branding, packaging and technology solutions company, has extended and expanded the lease for its headquarters for retail innovation in Plano. It is located in International Business Park at 6400 International Parkway. Growth was the primary motivator, with SML more than doubling its previous lease of 8,260 SF to 17,226 SF.  Baron Aldrine, Mike KayMike Cleary and their team with CBRE in Dallas represented SML.

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National Real Estate Briefs      

Boca Raton Innovation Campus (BRIC) has announced that The Kroger Company is the latest addition on its Yamato Road campus. Kroger is the nation’s largest supermarket chain by revenue. The firm’s Boca office – 43,000 SF in BRIC’s 4700 building – is a national headquarters supporting Kroger’s digital businesses, including Vitacost.com, which the company acquired in 2017. Mitchell Millowitz of Newmark Grubb Knight Frank represented Kroger while Danielle Vennett of Crocker Properties and CBRE’s Jeff Kelley represented the landlord.

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National multifamily investment firm Hamilton Zanze has acquired the Abbotts Runapartment community in Alexandria, Va. The purchase closed Aug. 29 and property management responsibilities were transferred to Mission Rock Residential. Hamilton Zanze is a private, San Francisco-based real estate investment company.

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The St. Joe Company has announced plans to relocate its corporate headquarters to Beckrich Office Park in Panama City Beach, Fla. St. Joe currently has 12 projects under construction or in development in Bay County, including eight in Panama City Beach. Among them are hotels, new residential communities, Pier Park Crossings apartments and the Latitude Margaritaville Watersound 55.

Sept. 10, 2019 Realty News Report Copyright 2019

Read The New Book by Ralph Bivins, Editor of Realty News Report 

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