Real Estate Briefs from Realty News Report

 HOUSTON – Splendora Trust has purchased 199.4 acres along FM 2090 in Splendora, northeast of the Woodlands, from JM Texas Land Fund No. 5 LP. Jeff Lokey and Dave Ramsey of NewQuest Properties represented the buyer. Michael Ross of Rockspring Capital and James Kadlick, Matt Herring and Chris Hutcheson of McAlister Real Estate represented the seller.

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AIV and Gulf Coast Modificationhave opened a 320,000 SF warehouse, manufacturing and office headquarters at 22806 Northwest Lake Drive. Custom-designed and built by KDW, a Houston design/build firm, the new facility near Telge Road and Highway 290 consolidates three separate properties previously operated by the two companies.  The new facility houses two stories of Class A office space, a dedicated warehouse operated by AIV and a separate manufacturing space for Gulf Coast Modification.

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PCCP,LLC, has provided a $36.5 million senior loan for the refinance of Bayou on the Bend, a multifamily asset in the Inner Loop/River Oaks submarket of Houston. The 241-unit Class A property is adjacent to Buffalo Bayou Park and is 87% occupied. It was acquired by Arel Capital in mid-2017. The financing was arranged by Adam Allen and Ben Johnson of Newmark Knight Frank.

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Lee & Associates – Houston represented Equity Resource Partners– Houston, LLC, in the sale of a 65,250 SF industrial property at 14549 Minetta St. Trey Erwin and Robert McGeeof Lee & Associates – Houston represented the seller.

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Holliday Fenoglio Fowler, LP, has arranged $92 million in financing for a three-property, 1,653-bed student housing portfolio in Iowa, Texas and South Carolina. HFF worked for Austin-based Aspen Heights and Safanad to secure the three-year, floating-rate loan through a large institutional lender.  Loan proceeds were used to refinance existing construction financing. The Texas facility, Aspen Houston, consists of 717 beds in two four-story, wrap-style buildings at 4971 Martin Luther King Boulevard which serve the University of Houston.

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NAI Partners recently arranged a 3,342 SF office lease for the law firm of Sico Hoelscher Harris, LLP, at 3 Riverway. NAI’s Alex Taghi represented the tenant. Sico Hoelscher Harris LLP handles injury and contingency fee-based litigation.

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Jianna Jewelers, a jewelry retailer and third-generation custom jewelry manufacturer focusing on ethically-sourced stones, recently opened its doors in the Kirby Collectionat 3300 Kirby Drive. The 1,400 SF retail space houses a 750 SF display case.

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The LeClaire Group of Marcus & Millichap has announced the sale of Storage Place of Katy, a 131,003 net rentable SF storage facility in Katy. It sits on some 8.58 acres and has 19 single-story buildings.M&M’sDave Knobler and Charles “Chico” LeClaire handled the sale.

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Texas real estate briefs

Finial Group and TriGate Capital, LLC, recently closed on the acquisition of the Westwood Business Park in Dallas, just southwest of the intersection of I-635 and I-35. The park is a 12-building development consisting of grade-level flex, dock-high flex and high-finish flex product totaling 227,709 SF.

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Eataly, the Italianmarketplace offering an array of restaurants, cafés, fresh counters and to-go eateries, has leased 48,000 SF in NorthPark Center in Dallas, providing the firm its first Texas location. CBRE’s Scott Muller, Katie Rambie, Kiley Pipkin, Zach Ballenger, Justin Rasansky, Sydney Muller and Jack Gosnell represented Eataly.

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CBRE announces the sale of Treymore Eastfield, a 196-unit multifamily community located at 2631 John West Road, Dallas, across from the Mesquite city limits. Peak Capital Partners, a Utah-based company, purchased the asset from Dallas -based Carlton Laprada Ltd. for an undisclosed price. Chris Deuillet and Chandler Sims with CBRE Capital Markets’ Investment Properties in Dallas and Jeff Kunitz and Alex Medeiros with CBRE Affordable Housing in Seattle represented the seller.

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Billingsley Company, a Dallas real estate developer, announced that Blucora has signed a lease in the office building now under construction at Cypress Waters. Blucora Inc., a provider of financial solutions, is unifying two current offices into one in the Dallas area. They will occupy multiple floors of 3200 Olympus Boulevard, a 250,000 SF multi-tenant building across the street from the retail and outdoor venue in The Sound at Cypress Waters.

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Taylor Schmidt and Reed Vestal of Lee & Associates – Houston represented Waterworld USA, Inc. in the purchase of a 29,325 SF industrial property at 13550 South Gessner Road in Missouri City. Lee & Associates – Houston represented the buyer, and Amy Silvey with Clay & Company represented the seller, Star Gessner Properties, LLC.

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Lee & Associates – Houston represented the seller and the buyer in the sale of 10 acres near the corner of FM 529 and Katy Hockley Cutoff Road in Katy. Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston brokered the deal.

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Newmark Knight Frankhas signed an 8,454 SF lease for the new location of its Northern Dallas office, at 5201 Tennyson Parkway, in Legacy Business Park, Plano. The new site nearly doubles the square footage of its former office. John Wolf represented NKF in the transaction. The new Plano office houses operations, corporate revenue groups and experts from several NKF services.

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Point of Rental Softwareis expected this summer to move into a newly acquired 35,000 SF building at 14401 Statler Blvd., Fort Worth, for its North American headquarters, less than four miles from its current site. Point of Rental Software has tripled its worldwide staff in the last three years, adding offices in the UK and Australia. Charlie Beck and Cribb Altman of Cushman & Wakefield represented Point of Rental, while Sam Franklin of Peak CRE represented the seller, Corporate Statler LTD.

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NAI Partners San Antonio recently arranged a 6,480 SF retail lease for the U.S. Postal Serviceat 900 Bugg Lane in San Marcos. NAI Partners’ Joe DeCola and Todd Mahler represented the landlord.

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NAI Partners recently arranged a 3,294 SF retail lease for Modern Affinity Bridal Couturein the Shoppes at FM 646 in League City. NAI Partners’ Jason Gaines represented the landlord and Melissa Gerber-Braum represented the tenant.

May 29, 2019 Realty News Report Copyright 2019