RNR Real Estate Briefs from Realty News Report HOUSTON— NAI Partners recently arranged the sale of 8725 Meadowcroft Drive, a 20,900 SF, industrial property in West Houston. NAI Partners’ Michael Keegan and Andrew Laycock represented the seller. Hunter Johnston with Bridge Commercial represented the buyer, U.S. Living, a subsidiary of Sade Capital, which specializes in the acquisition, development and management of multifamily assets
HOUSTON — Foxconn Assembly signed a new lease for 200,200 SF in the Sam Houston Distribution Center at 9625 Fallbrook Pines in Houston. Transwestern Industrial Group’s Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond represented the building owner.
HOUSTON – — BRT Apartments Corp. sold its multi-family property, Kendall Manor, in Houston for $24.5 million.
SUGAR LAND, Texas — Six Pines Investment LLC has purchased the 28,000 SF Riverstone Plaza on 3.48 acres at 4821 LJ Parkway, Sugar Land, from LJ Parkway, LLC. Marc Peeler of NewQuest Properties represented the seller. Bob Yuanjie of Champions Real Estate Group represented the buyer.
HOUSTON — NAI Partners recently arranged the sale of 1302 Boyles Street, an 11,880 SF industrial property in East Houston. NAI Partners’ Michael Keegan and Andrew Laycock of the company’s Industrial Services Group arranged the transaction. The buyer, ED Produce, specializes in the wholesale distribution of fresh fruits and vegetables.
SUGAR LAND, Texas — Mainna Investments, LP, purchased 6.24 acres at Sugar Land Business Park on S. Dairy Ashford Road in Sugar Land, for an undisclosed amount. Transwestern Industrial Group’s John Ferruzzo and Nick Peterson negotiated the sale on behalf of the buyer.
HOUSTON – A property at 20432 Westfield Commerce Drive, a 21,750 SF building on 1.31 acres at Clay Road Commerce Park in Katy has been sold. The seller, Westfield Commerce Center, LLC, was represented by Steve Hazel and John Stavinoha of InSite Realty Partners. The buyer was represented by Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties Inc.
HOUSTON – Banta Corporation renewed and expanded its lease for 201,600 SF at West by Northwest at 6315 West by Northwest Blvd. in Houston. Transwestern Industrial Group’s Brian Gammill and Darryl Noon represented the building owner.
HOUSTON — JP Interest, Inc. and Net Long, LLC, have purchased a 6,000 SF retail building on a 0.38-acre tract at 4617 Nett St., Houston, from McGaughy Thomson and Stewart Properties, LLC. Brad LyBrand of NewQuest Properties represented the buyer.
HOUSTON —Montrose Collective, the mixed-use retail and office project set for completion later this year in Lower Westheimer, announced that performance-fabric clothier, State & Liberty, will open its first Texas store in the development. The 1,100 SF Montrose Collective store will be located off Westheimer and Grant Street, amid restaurants and retailers.
HOUSTON – Travis Fite of NorthMarq’s Houston office arranged acquisition financing of $10,660,000 for Coral Island Apartments. The 316-unit, class B garden-style complex is at 4700 South Kirkwood Road in Houston. The transaction was structured with a 10-year term on a 30-year amortization schedule through Fannie Mae.
THE WOODLANDS, Texas —Lisa Hughes of The J. Beard Real Estate Company recently represented landlord Havenwood Land Developments, LP, in the lease of 3,501 SF at Havenwood Office Park, at 25700 I-45 North in The Woodlands. The tenant, Silver Spring Home Healthcare, was represented by Abim Jones with Realty Associates.
HOUSTON — Freeway Logistics signed a new lease for 97,440 SF at the Sam Houston Distribution Center, 8828 Taub Road in Houston. Transwestern Industrial Group’s Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond represented the building owner.
KATY, Texas — CHCA Woman’s Hospital, LP, has leased 3,539 SF of retail space in Stableside at Falcon Landing, at Gaston Road and Falcon Landing Boulevard, Katy, from NewQuest Properties. Austin Alvis and Grace La of NewQuest Properties represented the landlord. Ashley Cassel of Transwestern represented the tenant.
HOUSTON — Chase Tucker and John Buckley with Finial Group renewed a lease at 2401 Fountainview Drive in Houston for the tenant, the law firm of J. Lindsey Short & Associates.
HOUSTON – Porter Powers purchased 77,500 SF of warehouse space at 12306 and 12310 Shiloh Church Road in Houston for an undisclosed price. Transwestern Industrial Group’s John Ferruzzo and Nick Peterson negotiated the sale on behalf of the buyer.
WILLIS, Texas — Carboneros Latin American Kitchen has leased 3,220 SF of retail space in Willis Town Center, at Interstate 45 and FM 1097, Willis, from NewQuest Properties. Kevin Sims of NewQuest Properties represented the landlord.
HOUSTON— NAI Partners recently completed the sale of 3815 Hollister St., a 30,194 SF industrial property in Northwest Houston. NAI Partners’ Michael Keegan and Andrew Laycock of the company’s Industrial Services Group arranged the transaction.
TEXAS
PLANO, Texas – BH Properties has acquired Preston Shepard Place, a 361,780 SF community retail center in Plano. Built in 1995, the center is located at Old Shepard Place and Preston Road. Anchored by Marshalls, Burlington and Tuesday Morning, it was 55% leased at closing.
DALLAS – Village on the Parkway, a 343,911 SF, pedestrian-friendly urban retail village anchored by Whole Foods Market and AMC Theatre in Dallas, was acquired by VOP Partners, LLC. The JLL Retail Capital Markets team representing the seller was led by Barry Brown, Chris Gerard and Ryan Shore and analysts Jason Jacobs and Matthew Barge.
SAN ANTONIO – JLL Capital Markets has arranged financing to acquire and update the Oakdell Way Townhomes, a 100-unit multi-housing property in San Antonio. The Oakdell Way Townhomes are at 6020 Danny Kaye Drive, adjacent to the San Antonio Medical Center. The JLL Capital Markets team representing the seller was led by Mark Brandenburg, CW Sheehan and Cort Martin.
DALLAS – Installation Delivery & Storage, LLC, has leased 10,000 SF warehouse space at 3530 Dilido Road, Dallas, from 75032 Investments LLC. Noah Dodge and Michael T. Grant of Bradford Commercial Real Estate Services, represented the landlord.
FARMERS BRANCH, Texas – Baley’s Bridal leased 5,042 SF of retail space in Midway Center, 14472 Midway Road, Farmers Branch, from Kennington Midway Center, LLC. Melanie Hughes and Elizabeth Hooper of Bradford Commercial Real Estate represented the landlord. Sara Bodzy and Carley Keiser of TIG Real Estate Services, Inc. represented the tenant.
DALLAS — Huffines Communities, one of D/FW’s largest residential developers, announced the sale of a large, privately owned Class A multi-family development in the Hebron 121 Station metroplex. EastSky, the East Coast multifamily investor, purchased the 90-acre, resort-style community of 1,429 units for an undisclosed price from brothers Donald and Phillip Huffines.
NATIONAL
BOCA RATON, Fla. – JLL Capital Markets arranged $19.4 million in financing for Glades Twin Plaza, a two-building office complex totaling 97,815 SF in Boca Raton, Fla.JLL worked on behalf of the borrower, Sterling Organization, to secure the five-year, fixed-rate loan. Glades Twin Plaza is on 5.3 acres at 2300 Glades Road in the Boca Raton West submarket. The property is part of the larger Glades Plaza mixed-use development, also owned by Sterling.
ATLANTA, Ga.– Miami-based Atlantic Pacific Companies announced the acquisition of the 224-unit Grace Apartments in Atlanta. With this purchase, AP expands its Georgia portfolio to 21 properties, totaling nearly 5,300 units.
PHOENIX, Ariz. – JLL Income Property Trust financed the Southeast Phoenix Distribution Center, a newly constructed, four-building distribution site totaling 474,000 SF in the Chandler submarket of Phoenix, The financing was for $49 million, at a fixed interest rate of 2.70% for a term of seven years.
ALPHARETTA, Ga. – Dalfen Industrial bought three Class A industrial properties in Alpharetta, Ga., adding 284,000 SF to its metro Atlanta portfolio. The properties abut the Shiloh Crossing properties purchased in 2020.
BRUNSWICK, Ga. – New York City-based investor Cyclone Investment has closed on the purchase of the 128-unit Golden Isles Apartments in Brunswick, Ga., for $13,500,000. Phil Goldstein and Steven Vegh of Westwood Realty Associates handled the sale.
RUTHERFORD, N.J.– Amazon, will occupy a 360,000-SF warehouse in Rutherford, N.J. in the Meadowlands industrial market.The project is owned by Lincoln Equities Group, one of the Northeast’s leading full-service real estate firms. Lincoln procured $115 million in industrial build-to-suit construction financing for the facility.
June 5, 2021 Realty News Report Copyright 2021
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Downtown Houston: Photo credit: Ralph Bivins. Copyright 2021
Published by Realty News Report, RNR Real Estate Briefs is a compilation of regional and national news.