Wednesday , 1 April 2020
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RNR Real Estate Briefs from Houston, Austin, Dallas and San Antonio

HOUSTON – (Realty News Report) – HCA Houston Healthcare recently broke ground on the HCA Healthcare Center for Clinical Advancement, a new, state-of-the-art training center. NAI Partners’ Griff Bandy and Joe Bright represented HCA in the transaction for the 48,400 SF building at Pearland Town Center, 11200 Broadway St. It is scheduled to open by early 2021. The healthcare organization signed a long-term lease for this specialized build-to-suit.

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Southfork Centre Partners, Ltd. has sold a newly developed shopping center at 3422 Business Center Drive, Pearland, adjacent to a new Costco, to Kamco Holdings. The property contains 17,653 SF on 2.04 acres. Matthew Berry and Robbie Kilcrease  with CBRE Houston represented the seller.

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Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston have brokered the sale of 11 acres at 15542 Mound Road in Hockley, Texas.

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2ML Real Estate Interests, Inc. carried out the retail sale of 79,366 SF on 1.82 acres at 5600 Mykawa Road, Houston, to Urban Meridian Group, Inc.  Matthew Berry and Robbie Kilcrease with CBRE Houston represented the seller.

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Lee & Associates – Houston represented Brittmoore Investments, LLC in the lease of 30,116 SF of industrial property at 4541 Brittmoore Road in Houston. Preston Yaggi, Clint Hankla and Justin Cole of Lee & Associates – Houston represented the landlord.

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EXP has relocated its Houston office to the Energy Corridor. The firm provides comprehensive services for gas processing facilities, chemical plants, acid (sulfuric and acetyl refining) plants and renewable facilities. The relocation to the new 27,905 SF office at 11330 Clay Road brings EXP closer to clients for current and future projects. EXP was represented in the transaction by Eugene Terry from JLL.

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A private buyer has purchased the newly developed Kroger shadow-anchored strip center from CC Tuckerton Retail, LP. The property at 18121 Tuckerton Road in Cypress, Texas, comprises 16,493 SF on 1.84 acres. Matthew Berry and Robbie Kilcrease with CBRE Houston represented the seller.

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The Howard Hughes Corp. has announced that Baja Sur Fresh-Mex and Tequila Bar will open its first restaurant in the United States this summer. The business selected the new Creekside Park West, located in Creekside Park Village Center in The Woodlands, to make its debut. Baja Sur Fresh-Mex and Tequila Bar is a new take on Tex-Mex cuisine.

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WD GM Retail, LLC, has sold 3.08 acres at SH 99 and Morton Ranch Road in Katy to Patton Properties. Darin Gosda, Darbe Gosda and Jazz Hamilton with CBRE Houston represented the seller.

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Stuebner 99 Retail LP has purchased 2.14 acres at Texas 99 and Spring Stuebner Road in Spring, Texas, from Five Forks Village, LLC. Neal Thomson and Brad LyBrand of NewQuest Properties represented the buyer. Mark Terpstra of Caldwell Companies represented the seller.

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Lee & Associates – Houston represented Lee Road Investments, LLC, in the sale of a 24,750 SF industrial property at 16820 Lee Road in Humble, Texas. Mike Spears and Thomas Leger of Lee & Associates – Houston represented the seller. The buyer was THP Lee, LLC.

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Midland Industries has leased 35,560 SF at 5544 Armour Drive-in the Houston Harbor subdivision. Zack Taylor, Doyle Toups and Tommy Erwin of Moody Rambin represented the building owner during negotiations. Will Condrey at Cresa represented Midland Industries.

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Lee & Associates – Houston represented Odyssey 2020 Academy Inc. in the lease of 50,000 SF space at 10000 Emmett F. Lowry Expressway in Texas City. Frank Blackwood and John Gazzola of Lee & Associates – Houston  represented the tenant.

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Johnson Space Center Federal Credit Union has sold 2121 Market St., a 16,810 SF banking facility and office building in Galveston to Dualmont, LLC., an 18-year-oldcompany that renovates investment properties. Bob Gulley of Moody Rambin represented the seller during negotiations. Kelli McClure of Berkshire Hathaway represented the buyer. ………………………………………………………….

G&H Diversified has leased 12,000 SF at 5874 Cunningham Road in Houston. Jim Autenreith and Chris Ochterbeck of Moody Rambin represented the owner during negotiations.

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Pacific Plast, Inc. has leased 10,724 SF at 10641 Haddington Drive in Houston. Jim Autenreith and Sam Rayburn of Moody Rambin represented the owner during negotiations.

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Texas Real Estate Briefs

CBRE announces that Ascendant Commercial, a Dallas-based real estate investment, development and consulting firm, has purchased 46.25 acres of undeveloped land at I-35 and Highway 1187 in Fort Worth for industrial use. This is the first phase of about a 130-acre, multi-phase commercial industrial park ultimately bringing an estimated 2.2 million SF of institutional grade logistics and distribution space. Ascendant will break ground on its first spec industrial warehouse this summer. The first building will be a distribution center of about 850,000 SF, which will be the largest spec development in the south Fort Worth area. The building should be complete by May 2021.

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CBRE announces the sale of the IDI Logistics industrial portfolio and the Hanson industrial portfolio. The collections were acquired jointly by Equity Industrial Partnersand Raith Capital Partners. The IDI portfolio includes 17 buildings in El Paso and three in Santa Teresa, N.M., for a total of 1,715,000 SF of industrial space. The Hanson portfolio consists of two industrial buildings totaling 213,370 SF and 35 acres of industrial land. William Caparis and Andrés Sandoval, with CBRE in El Paso, partnered with Jonathan Bryan on CBRE’s Capital Markets Team to represent IDI Logistics. Arturo De la Mora, with CBRE in El Paso, represented Russell Hanson. The acquisitions mark Equity Industrial Partners and Raith Capital Partners’ first foothold in the El Paso market.

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JLL Capital Markets has closed the sale of Galleria Office Towers, three Class A buildings totaling some 1.4 million SF at the Dallas North Tollway and LBJ Freeway (Interstate 635) in Dallas. Galleria development buildings have mixed-use integration with the 1.5 million SF Galleria Dallas Mall and a 448-room luxury Westin Hotel. JLL represented the seller in the transaction and Piedmont Office Realty Trust, Inc. purchased the asset

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EVO Entertainment Group has announcedconstruction of its seventh entertainment venue, EVO San Antonio. What promises to be EVO’s largest facility to date, the new 80,000 SF location will be at the intersection of Highway 151 and Military Drive as part of the Escala development. Construction will begin in March 2020 and should be completed by January 2021.  The Escala development is being leased by Zach Parra and Bethany Babcock of Foresite Commercial Real Estate.

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JLL Capital Markets has arranged the refinancing of Central Park Apartments, a 144-unit, garden-style community in North Dallas’ Vickery Meadow neighborhood. The firm worked on behalf of the borrower, Frontline Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. The JLL Capital Markets debt placement team representing the borrower was led by Mark Brandenburg and Chad Russell.

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Henry S. Miller’s Stephen A. Scott negotiated a $4.44 million construction loan for the 16,000 SF Phase 2 of the Shops of Hudson Oaks at 2950 Highway 180 in Hudson Oaks, Texas. The shopping center is 85% pre-leased with tenants, including Orange Theory, Nothing Bundt Cakes and R and K Cafe.

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Bellomy & Co. announced the sale of Academy Mini Storage in Little River-Academy, Texas, part of the Killeen–Temple–Fort Hood MSA. The facility was built in 2003 and has 208 units in 27,000 SF. The property also includes nine acres of expansion room. The facility was 68% occupied at closing. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Grossman Family Trust, the seller, based in Temple, Texas.

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Stream Realty Partners has reported on six recent transactions:

1 — Elliott Electric Supply leased 20,207 SF at Jupiter/190 Business Park, 2700 Summit Ave., Plano. Ryan Wolcott and James Mantzuranis with Stream Realty Partners represented the landlord, Link Industrial. Nick Lee with NAI Robert Lynn represented the tenant.

2 — Sedgwick leased 29,237 SF at 10th Street Business Park, 1800 10th St., Plano. Ryan Wolcott, James Mantzuranis and Matthew Dornak with Stream Realty Partners represented the landlord, Link Industrial. Brian Gilchrist with CBRE represented the tenant.

3 — Drucker Labs leased 8,353 SF at Palisades Industrial Park, 1600 Capital, Plano. Ryan Wolcott, Matt Dornak, and James Mantzuranis with Stream Realty Partners represented the landlord, Link Industrial. Henry Knapek with Transwestern represented the tenant.

4 — Fort Worth Star Telegram leased 22,000 SF at 6314 Airport Fwy in Fort Worth. Stream Realty Partners’ Forrest Cook represented the tenant and Transwestern’s Leland Prowse and Gibson Duwe represented the landlord, Barnard Partners.

5 —Lionhead investors purchased a 5,000 SF retail property at 2804 NE 28th St. in Fort Worth. Stream Realty Partners’ Forrest Cook represented the buyer and Transwestern’s Todd Hawpe and Ben McBroom represented the seller, Western Capital.

6 — PGS 360 leased 26,000 SF at Parc North in Fort Worth. Stream Realty Partners’ Seth Koschak, Forrest Cook and Brett Carlton represented the landlord, Eastgroup Properties. Collier’s Liam Logan represented the tenant.

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Carter & Co. has leased 7,205 SF of office space in Highland Park West, 4300 MacArthur Ave., Dallas, from 4300 MacArthur Partners LP. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. worked on behalf of the tenant.

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Central Texas Real Estate Leases

54thStreet Restaurant & Drafthouse has ground-leased a 1.83-acre pad site in Stone Hill Town Center at TX 130 and TX 45, Pflugerville, from NewQuest Properties. Josh Friedlander and Kevin Sims of NewQuest represented the landlord. Michael Walters of Falcon Realty Advisors worked for the tenant during the transaction.

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Gray & Co. Realtors Inc. has leased 3,158 SF of office space in Highland Park West, 4300 MacArthur Ave., Dallas, from 4300 MacArthur Partners LP. Jared Lake and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. worked for the tenant.

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JLL Capital Markets has closed the sale of Parkview on Hollybrook, a 189-unit senior living community in Longview, Texas. JLL marketed the property exclusively on behalf of the seller, an Austin-based private equity group. A joint venture between MedCore Partners and The National Realty Group purchased the asset for an undisclosed amount. The community will be managed by Integral Senior Living of Carlsbad, Calif.

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Cinnamon Shore South broke ground Feb. 21 on its new pool complex as the $1.3 billion expansion of Cinnamon Shore continues on site, 5800 TX 361 in Port Aransas, Texas. Set to open in May of 2021, the new, heated pool will feature a landscaped, resort-style setting and other features.

Feb. 24, 2020 Realty News Report Copyright 2020

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

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

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