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Real Estate News Briefs – Houston, Regional and National – Presented by “Houston 2020: America’s Boom Town” The Timely Book by Ralph Bivins

MARK YOUR CALENDAR – Thursday Jan. 30  
Ralph Bivins will sign and discuss his book “Houston 2020: America’s Boom Town – An Extreme Close Up.”  5:00-7:00 p.m. River Oaks Bookstore, 3270 Westheimer, across from Lamar High School.
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HOUSTON – (Realty News Report) – Kimberly DeVos of Cypressbrook Company represented the buyer, Declaration Church, in the purchase of 85.71 acres on Highway 99 (Grand Parkway) at Birnham Woods for their new church campus. The seller, Elan Land Investments, LP, was represented by Tommy LeBlanc from Avison Young.

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Marcus & Millichap, a commercial real estate investment services firm, has announced the sale of Northland Boat & RV Storage, a 63,820-net rentable SF boat/RV storage facility in Spring, Texas. Dave Knobler, from Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a family trust.  The buyer, a limited liability company, was secured by Juan Cuevas.

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Newmark Knight Frank reports taking part in the following recent transactions in Houston:

Bristow Group Inc.renewed a 52,010 SF office lease at Granite Briarpark Green, 3151 Briarpark Drive. NKF agents Joshua Brown, Reggie Beavan III and Audrey Selber represented the tenant. The landlord is GPI Briarpark Green LP. Outside agents were from Granite Properties.

H20 Midstream Permian, LLC, obtained a new 10,783 SF office sublease at 2925 Briarpark. NKF agents John Luck and Audrey Selber represented the tenant. Outside agents were from JLL. The landlord is Cameron LNG, LLC.

Nistico, Crouch & Kessler, PC, acquired an extension of its lease for a 7,666 SF office at 3D/International Tower, 1900 West Loop S. NKF’s Michael Lisch, John Luck and Audrey Selber represented the tenant. Other agents involved came from Transwestern.  The landlord is 1900 WLS-RE, LP.

Nalco Company, LLC,renewed an industrial lease for 10,960 SF at 16834 Titan Drive. Kaitlyn Johnson, JR Tomlinson and Luis Pascuzzi from NKF represented the tenant. Other agents involved were from Boyd Commercial. The landlord is Clear Lake Titan, LLC.

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John Hornbuckle of Cypressbrook Company represented the tenant, Earthstone Energy Inc.,in the leasing of 19,604 SF at 1400 Woodloch Forest Drive. Norm Munoz of Colliers International represented the landlord, Woodlands Office Equities-95, LLC.

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HOUSTON – NewQuest Properties has been selected by North Carolina-based Extended Stay America to market four locations in Houston and Austin. In Houston, the hotels are at 2300 W. Loop South, 4701 Westheimer and 7979 Fannin St. – and in Austin at 507 S. 1stSt. adjacent to Stream’s new 15-story River South mixed-use development. NewQuest’s Brad LyBrand and Glenn Dickerson are handling the listing.

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George Montes of Cypressbrook Company represented the buyer, S&D Enterprises in the purchase of a 2,250 SF office space at 25511 Budde Road. Heather Blavesco represented the seller, Brownstone Office Condominiums II L.P.

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Denise Ksiazek of Cypressbrook Company represented Pediatric Academic Societies, Inc. in the renewal of a 2,358 SF office lease at 9303 New Trails in The Woodlands. The landlord, 9303 New Trails Holdings, LLC, was represented by Jillian Fredericks of Colliers International.

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Marcus & Millichap announced the sale of Oceanway Mobile Home Park, a 750,103 SF manufactured homes community in Baytown. The asset was listed for$6 million. Jeff Taylor from Marcus & Millichap’s Houston office had the exclusive listing to market the property on behalf of the seller, a limited liability company.

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Texas real estate briefs          

Fine Line Group, The Family Office of Sasha and Ed Bass, has selected the Henry S. Miller Company to manage and lease Sundance Square,a 29-block walkable district of shops, restaurants and entertainment venues in downtown Fort Worth. The area is also made up of offices and residential buildings.

Team members from the management and leasing firm include Henry S. Miller III and Frank Bullock.

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 An affiliate of Miami-based Atlantic|Pacific Communities announced the completion of The Bristol, a 96-unit apartment home community in San Antonio. The development is the fourth affordable residential complex developed by an affiliate of A|P Communities in the San Antonio metropolitan area. Located at 7810 Old Tezel Road, the development is a mix of affordable and market rate units with rents ranging from $316 to $996 per month. AP Communities’ affiliated companies are scheduled to break ground on another project in the San Antonio metro area early this year.

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Newmark Knight Frank has announced the sale of Rivera, a 302-unit, luxury, mid-rise multifamily community in San Antonio. Patton Jones and Matt Michelson represented the seller, Cypress Real Estate Advisors, an Austin-based real estate investment firm. The asset traded to Barvin, a Houston-based multifamily investment, development and management firm for an undisclosed price.

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Lennox International Inc.has retained Bradford Commercial Real Estate Services to backfill a class A vacancy on its 15-acre campus in the Telecom Corridor in far north Dallas. Melanie Hughes and Elizabeth Robertson have jump-started the marketing of two suites totaling 11,275 SF at One Lake Park, a 192,213 SF multi-tenant building in Richardson. The eight-story structure is one of three on the campus, all master leased to Lennox for its international headquarters.

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Newmark Knight Frank has announced that Commerce Street Holdings, LLChas re-signed and restructured a long-term lease for its 23,000 SF office space on the 27th floor of the 60-story Fountain Place building in Dallas. NKF’s Jim Cooksey, along with Paxton Cooksey, Garrison Efird and Louis Pascuzzi, represented the tenant in the early renewal lease transaction.

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NAI Partners recently arranged the sale of 1.1 acre for KAF Development at 609 Bastrop Highway (US 183) in Austin. NAI Partners’ Troy Martin represented the seller.

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JLL Capital Markets has arranged $35.5 million in financing for The Jax, a 322-unit, multi-housing property in Northwest San Antonio. JLL worked on behalf of the borrower, Casoro Group, to secure the five-year, floating-rate acquisition loan through Nexbank. The Jax is a recently renovated garden-style community. The JLL Capital Markets team representing the borrower was led by Mark Brandenburg.

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NAI Partners recently arranged a 17,621 SF office sale for an undisclosed buyer in San Antonio. NAI Partners’ Mitchell Lyons, Sean McDonald and Joshua Swank represented the purchaser.

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AUSTIN – Patrinely Group and USAA Real Estate announced a lease with Q2 Holdings, Inc. to take the entirety of the Aspen Lake Three office development. Located in the burgeoning North Austin tech hub near Apple’s new campus, Aspen Lake Three will total 128,990-square-feet of Class A office space when fully developed. This announcement signifies the long-term relationship between Q2 and Patrinely Group. In 2011, Q2 leased Aspen Lake One and Patrinely Group subsequently developed Aspen Lake Two for Q2 in 2015.

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BEAUMONT – Paul A. Lynn & Associates has been hired by the Beaumont Housing Authority of Beaumont to conduct a live auction sale of 100± houses and 4 vacant lots located throughout Beaumont, TX. The auction will be held on Saturday, February 29 at the Beaumont Civic Center, 701 Main St., free parking, use North Entry.

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DALLAS – Optima Business Park, a 200,000-square-foot office complex in Northwest Dallas, has been acquired by Ricchi Group, a local real estate developer, who has already begun an extensive renovation project on the towers.

The property, located at 8777 N. Stemmons Fwy., previously served as the headquarters of cosmetic company Mary Kay. Optima Business Park consists of the eight-story Tower I, which was built in 1976, and the five-story Tower II, which was added to the complex in 1985.

Jay Lucas of Cushman & Wakefieldr epresented the seller of Optima Business Park, Optima Stemmons LLC.

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National real estate briefs

The Boeing Oklahoma City campus was sold by Gardner Tanenbaum Holdings for $124,735,000 to OKC Aerospace 1, LLC, said Richard Tanenbaum, CEO of GTH. The sale took effect Jan. 7. The transaction comprises the entire campus of three office buildings located directly west of Tinker Air Force Base. Mark Beffort and Brett Price, as part of the Newmark Grubb Levy Strange Beffort brokerage team, represented the buyer and seller.

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Hand surgeon and serial entrepreneur Eric George has acquired the property at 321 Saint Charles Ave., New Orleans, a historic building that once served as headquarters for the United Fruit Company, which controlled New Orleans’ banana trade during its height. The building was erected in 1920 and became United Fruit Company’s headquarters, where Sam Zemurray oversaw company operations. The acquisition continues George’s longstanding commitment to preserving properties in the Crescent City.

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Newmark Knight Frank Multifamily has announced the $55,250,000 sale of Polo Glen, a 252-unit garden-style community in Rockledge on Florida’s Space Coast. Scott Ramey, Patrick Dufour and Erik Bjornson represented the seller, Baltimore-based Continental Realty Corporation, in the sale to an undisclosed buyer.

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Pearlmark announced it has closed on a $16.2 million investment for the development of Niumalu Marketplace in Kailua-Kona, Hawaii.  The project will contain 204,275 SF of retail and commercial space.

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Hunter Hotel Advisors— an investment advisory firm focused exclusively on the hotel industry – announces its 2019 year-end results will come in at $1.2 billion, with a total of 137 properties sold. The record year represents a net increase of 35% in total transaction volume and a 20% increase in the number of properties handled for the year. The properties were located across the US, with 10 or more transactions each in Florida, Georgia, Texas, Colorado and California.

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Five years of proactive strategy and planning by city leadership in Sterling Heights, Mich., has helped secure new ownership for Lakeside Mall. Out of the Box Ventures, a subsidiary of Miami, Florida-based Lionheart Capital, closed on the property Dec. 19 to become the mall’s new owner and manager. Long-term plans include adding new uses to the property other than retail. Lakeside Mall comprises more than 1.5 million SF of retail space.

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Jan. 13, 2020 Realty News Report Copyright 2020

A BOOK for THE NEW YEAR – by Ralph Bivins, Editor of Realty News Report 

 Houston 2020: America’s Boom Town – An Extreme Close Up

Available on Amazon  http://tiny.cc/4a2g6y

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