RNR Real Estate Briefs from Realty News Report –HOUSTON — NAI Partners has announced it represented Ring Energy, Inc., in its 16,000 SF headquarters relocation from Midland, Texas, to 1725 Hughes Landing Blvd. in The Woodlands. NAI Partners’ Charlie Neuhaus and Harry Holmes, from the firm’s Office Tenant Rep Group, represented Ring Energy. The sublandlord was represented by Jerrod McQuain of JLL.
HOUSTON — Colliers International announces two new leases in Cypress Preserve Logistics Center at 22203 and 22003 Cypress Slough Road in Houston. Source Logistics Houston will occupy 157,805 SF in building 2 (22003) and was represented by Trace Elrod of Newmark.While Miner Material Handling leased building 3 (22203), a 16,500 SF space and was represented by Bill Rudolf and Kyle Golding of CBRE. Walker Barnett and Ryan Byrd of Colliers International, represented Jeffrey Davis and Jeffory L. Stringer of Davis Commercial Development, the developer/landlord. Cypress Preserve Logistics Center is a Class A industrial park created by Davis Commercial Development.
HOUSTON — Coffee selfies recently poured onto social media to welcome the opening of nationally awarded Blendin Coffee Club’s first Houston inner loop location. Blendin’s light-filled space at 3201 Allen Parkway was abuzz with Blendin followers and curious locals who showed up to support the brand. The 1930-vintage building was recently remodeled by Houston development firm Radom Capital.
HOUSTON – John Hornbuckle and Kyle Whieldonof Cypressbrook Company represented the tenant, SMIT International, in leasing 30,940 SF of office/industrial space at 15402 West Vantage Parkway in Houston. Mike Nilsen with Tarantino Properties represented the landlord, Intercontinental Partners, Ltd.
HOUSTON – NAI Partners recently arranged a 19,200 SF industrial lease for CaDaAs Re-Distribution Center Corp. at 7818 Kempwood Drive in Houston. NAI Partners’ Jake Wilkinson represented the tenant. CaDaAs Re-Distribution Center distributes food grade containers.
HOUSTON – Kimberly DeVos of Cypressbrook Companyr epresented the tenant, Isaac White Agency, in leasing 1,500 SF of office space at Heritage Place, 21123 Eva St., Montgomery, Texas. The landlord, Heritage Place, Ltd., was represented by Barkley Dominey with ProMed Realty.
HOUSTON – Edge Capital Markets brokered the sale of Chasewood Corner at 19610 State Highway 249 in Houston. Chace Henke and Micha van Marcke of Edge represented the seller. Chasewood Corner is a 6,413 SF, newly constructed retail center fully leased to a line-up of service-oriented retail and medical tenants.
HOUSTON – Sam Giammalva with Finial Group secured a 2,600 SF office lease at 19929 Westfield Parkway in West Houston, with Destiny International Missions. Finial Group represented the tenant, Destiny International Missions.
HOUSTON – The Harris County Housing Authority, Harris County Community Services Department, Harris County Precinct Two Commissioner Adrian Garcia, the Texas General Land Office and development partner LDG Development recently marked the groundbreaking for The Hollows, a multifamily development to replace housing lost during Hurricane Harvey. The development will be financed with Harris County’s Community Development Block Grant – Disaster Recovery funds in conjunction with construction and private permanent financing from Citi Community Capital and tax credit equity from Hunt Capital Partners. The $39.35 million project will be made up of 192 apartment homes for families seeking quality housing in the Channelview area.
HOUSTON – Northeast View LLC has purchased a 15,059 SF retail center on 1.49 acres at 27230 TX 290, Cypress, from 290 Louetta Project Ltd. David Luther of NewQuest Properties represented the buyer. Joshua Jacobs of Blue Ox Group represented the seller.
HOUSTON – SC Houston RE LLC has purchased 5.3 acres at 8205 W. Sam Houston Parkway S from CREDTX LLC/KPCC LLC. Austen Baldridge and Andrew Alvis of NewQuest Properties represented the seller in the direct deal.
ROSENBERG – Coco Bella Hair & Beauty has leased 8,180 SF of retail space in Brazos Town Center Phase II, at the intersection of Interstate 69/US 59 and FM 762/Reading Road, Rosenberg, from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Joanna Temple Johnston of Temple Commercial Realty represented the tenant.
THE WOODLANDS – Rayford Restaurants renewed its 7,453 SF retail lease at Picasso Village, 314 Sawdust in The Woodlands. Scott Lewis and Noel Flagg of Newmark provided landlord representation. The landlord is Watumull Woodlands I, LLC.
TEXAS — RNR Real Estate Briefs
FORT WORTH, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a senior housing development company, have broken ground on the Harvest of Aledo Senior Living. The new, 68,000 SF community will be located on 7.5 acres and will feature 20 independent living villas, 67 assisted living and 24 memory care residences.
ALLEN, Texas – JaRyCo, an Allen-based developer, will create 102,000 SF of Class A office space as part of Phase 1 of its mixed-use development, The Farm in Allen, at the southeast corner of Sam Rayburn Tollway and Alma Drive. The office space, called FarmWORK One, will be encompassed in a three-story building across from The Farm’s Central District, close to dining, retail and entertainment options, a hotel and West Lake Park. JaRyCo plans to begin construction this year, once infrastructure is done. Completion is set for summer 2022.
PLANO – Scott Axelrod, vice president in the Industrial Division of Henry S. Miller Brokerage, negotiated the sale of a single story, 2,474 SF office building and one acre of land at 825 18th St. in Plano, Texas. The buyers were private investors from Allen, Texas, and the seller was Benoit Properties, LLC, of Plano. The building was built in 1987.
DALLAS – Trez Capital announced the funding of an $8.7 million acquisition and development loan for Provident Realty Advisors’ new project, Debbie Lane Flats, a 331-unit multifamily community in south Arlington.
Newmark participated in the following transactions in Texas:
- Ed Tucker Distributor Inc. extended its 257,500 SF industrial lease at Alliance Gateway 14, 4900 Alliance Gateway in Fort Worth. Newmark’s Louis Pascuzzi, Jim Cooksey, Trace Elrod, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, David Creiner, Brad Mason and Jack Brewer represented the tenant. Hillwood Realty Services worked on behalf of the landlord, AT Industrial Owner 3 Holdco, LP.
- Cargoquin, Inc. has obtained a new 118,842 SF office sublease at 810 Nafta Blvd. in Laredo. Newmark’s Matthew Boltz, Trace Elrod, Garrett Gibbons Jr, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Jack Brewer and Chris Mathis represented the sublandlord, St. Source Logistics Laredo, LLC. Forum CRE, LLC represented the subtenant.
- Splunk, Inc. has obtained a new, 83,774 office lease at Lincoln Legacy One, 6860 N. Dallas Parkway in Plano. Armand Triano Jr., John Wolf and Jim Graham represented the tenant while Cushman & Wakefield represented the landlord, IPXI Legacy Investors, LLC.
NATIONAL — RNR Real Estate Briefs
TURLOCK, Calif. — The Mogharebi Group has completed the sale of Arbor Manor Senior Cottage Homes, a 49-unit senior community at 140 West Minnesota Ave. in Turlock, Calif. The property, which received multiple offers, sold for a record-setting price of $7.2 million, or $147,000 per unit.
NEWPORT BEACH, Calif. — KBS, a major national investor in premier commercial real estate, announced it has signed just over two million SF in cumulative lease transactions during the COVID-19 pandemic. The transactions comprise a mix of new leases, renewals, and expansions and spans the firm’s $8 billion portfolio of office assets.
ROSEMONT, Ill. – Broker-owned commercial real estate firm Lee & Associates announced four lease transactions totaling 178,978 SF of industrial property in the O’Hare market.:
- Chris Nelson, Jeff Jand aand Michael Plumb of Lee & Associates of Illinois, represented owner Prologis on a lease of 92,000 SF 491 Supreme Drive, Bensenville. David Haigh of NAI Hiffman represented the tenant, Expo Lanka USA LLC.
- Chris Nelson, with associate Calvin Gunn, represented the tenant, Hoson Logistics, on their lease of 47,379 SF 472 Thomas Drive in Bensenville. Sam Durkin of JLL represented the owner, Link Logistics Real Estate.
- Brad Simousek, with Michael Plumb, represented the owner of 1049 Industrial Drive in Bensenville on a lease of 30,226 SF to tenant American Distributors.
- Brad Simousek also represented the tenant, Dental Health Products, on a lease of 9,373 SF at 1371 N. Wood Dale Road, Wood Dale. The building is owned by Hamilton Partners.
CHARLOTTE, N.C. – Miami, Florida-based Atlantic Pacific Companies (A|P) announced the acquisition of the 240-unit Preserve at Mountain Island Lake in Charlotte, N.C. The property marks A|P’s sixth acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III. With this acquisition, A|P enters the Charlotte market and further expands its footprint across North Carolina.
ETC. — RNR Real Estate Briefs
HOUSTON — Asset Living, a Houston-based property manager, announced it has acquired Alpha Barnes Real Estate Services, a Dallas-based property management firm with a focus on managing multifamily and affordable housing, including Section 8, low-income housing tax credit (LIHTC), HUD-financed and senior housing communities. The principals of Alpha Barnes have been working in the real estate industry since the mid-1970s.The firm has additional offices in San Antonio and Austin, with a combined total of more than 900 employees throughout Texas.
HOUSTON — Post Oak Central, a Philip Johnson-designed and LEED-(Leadership in Energy and Environmental Design)-Gold certified office campus in Houston’s Uptown district, has been re-designated as a top performer in operations and management nationwide by the Building Owners and Managers Association International (BOMA) as part of its 360 Performance Program. Encompassing three, 24-story Class A office towers totaling 1.2 million SF along with 90,000 SF of pedestrian-oriented retail, the 17-acre complex features one of Uptown’s largest green spaces in addition to one of the area’s highest walk scores. Post Oak Central is operated by Parkway Property Investments, LLC.
HOUSTON — Following a two-year redevelopment of downtown Houston’s largest asset, Brookfield Properties unveiled the completed renovations to the Houston Center campus. Brookfield Properties enlisted global architecture and design firm Gensler as the project architect and Clark Condon as the landscape architect. The redevelopment primarily focuses on upgrades to LyondellBasell Tower and 2 Houston Center. In December 2017, Brookfield Property Partners completed the $875 million acquisition of the Houston Center campus, which is comprised of LyondellBasell Tower, 2 Houston Center, Fulbright Tower, 4 Houston Center, and The Shops at Houston Center. The four-building mixed-use campus occupies five blocks along McKinney Street.
Feb. 6, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: 1725 Hughes Landing. Courtesy: NAI Partners