RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers announced that Sambrooks Management Company has leased a 4,852 SF retail space at 3201 Allen Parkway in Houston. The landlord is Radom Capital. Wade Greene and Hannah Tosch of Colliers represented the tenant, which will open a restaurant.
HOUSTON — The Ion, Houston’s collaborative complex, announced the official opening of “Common Desk – The Ion” Aug. 16. The flexible workspace and workday amenities provider will serve professionals from remote workers to small businesses, fast-growing companies and established enterprises. Spanning 58,400 SF, Common Desk – The Ion encompasses the full second floor of a building on Main Street in Midtown.
TOMBALL, Texas — Belvoir Real Estate Group, LLC, completed the sale of an investment-grade industrial property at 23540 Coons Road in Tomball. The property, sold by — and now leased back to — Tiva Technologies has a 32,625 SF metal manufacturing space, 5,000 SF of office space, a seven-tool machine shop and five- and 10-ton cranes. It sits on two acres of land, allowing for future expansion. Belvoir’s Nick Spearman represented seller Tiva Technologies.
HOUSTON — Agellan Commercial real estate investment trust has selected the Landlord Services Division of NAI Partners as exclusive property manager for its entire 12-building, 1.5 million SF Houston commercial portfolio. Chris Bosler and Jennifer Gourlay of NAI Partners’ Landlord Services’ Property Services group will spearhead management of the portfolio while NAI Partners’ Travis Land, Andy Parrish and Lesley Rice will do project leasing.
HOUSTON – Granite real estate investment trust and its partner, NorthPoint Development, have entered into a new build-to-suit lease with a leading e-commerce retailer at Houston Development NorthPoint 90 for an initial term of 10.9 years. The 690,000 SF, 40-foot, clear height distribution center is being built as the second part of a multi-phase complex, in addition to the initial stage of 700,000 SF currently under construction. The project is slated for completion in the third quarter of 2022.
HOUSTON–Square Mile Capital Management originated a loan secured by Standard in the Heights, a 301-unit multifamily building in Houston. The financing, which replaces the project’s construction loan, was made to Ojala Partners. Standard in the Heights marks Square Mile Capital’s first transaction with Ojala Partners, a Texas-based, real estate development firm. The transaction was brokered by Cameron Cureton and Steve Heldenfels of JLL’s Houston and Dallas offices.
HOUSTON – Southland Fence & Supply leased 10,130 SF of warehouse space at 13645 Reeveston Road. Doc Perrier with Finial Group represented the tenant.
HOUSTON – An existing RV park on the northeast corner of Almeda Genoa Road and Clearwood Drive will be redeveloped into two free-standing speculative retail buildings of 9,000 SF each while the existing RV park will be retained. The 3.5-acre site was sold by Wejeca Limited Partnership to Sugar Creek Square I, Ltd. Shaw Commercial Properties represented the seller and Dreams Come True Realty represented the buyer.
HOUSTON – SpeedPro North Houston, credited on Lifetime’s “Married at First Sight,” renewed a lease at 15800 W Hardy Road, Suite 560. Jason Gibbons and Doc Perrier with Finial Group represented the tenant.
PEARLAND – Eight Turn Crepe leased 1,650 SF at Shadow Creek Ranch Town Center located at Hwy 288 and 518/Broadway in Pearland. The landlord was represented by Brandon Schawe of Edens and the Tenant was represented by Wes Miller of Wulfe & Co.
TEXAS– RNR Real Estate Briefs
IRVING – Dominus Commercial partnered with Convergent Capital Partners to buy the 22-story 600 East Las Colinas, a 512,269-SF office building in the Las Colinas Urban Center. Newmark’s Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen represented the seller. The building, 77 percent leased, houses the HQ of the JPI Companies real estate firm.
SAN ANTONIO — NAI Partners arranged a 3,594 SF retail lease at HEB-anchored Stone Ridge Market at 20821 Highway 281 in San Antonio. NAI Partners’ Joe DeCola represented the landlord, InvenTrust. The tenant, Hyatt Nails, was represented by Marcus Schaffer with Fulcrum Property Group.
CIBOLO, Texas — NAI Partners, the commercial real estate services business of Partners Real Estate Company, recently arranged the purchase of 167 acres of land for SA Tomahawk, LP, on Weil Road in Cibolo, near San Antonio. NAI Partners’ Brett Lum represented the buyer. The seller was represented by J.D. Boggus.
ARP, Texas — Developers of East Texas’ High Hill Farm Resort and Spa has announced a proposal for a new planned community of vacation homes. It will be sited on 85 acres of neighboring High Hill Farm at 12626 County Road 217 in Arp, Texas. Founder and High Hill Development Principal Jason Romano called the development “a unique luxury housing development based on the principles of new urbanism.”
NATIONAL– RNR Real Estate Briefs
ATLANTA — Portman Residential, a new real estate development company affiliated with long-standing Atlanta-based Portman Holdings along with National Real Estate Advisors, LLC, has broken ground on a multifamily project, 1000 Spring, in Midtown Atlanta. The project will include 370 residential units as well as 11,000 SF of retail space.
SEATTLE – Cushman & Wakefield announced it served as the exclusive advisor to Gemdale USA Corporation in the procurement of $113 million of construction financing for Skyglass Tower, a 29-story multifamily development at 222 Dexter Ave. North in Seattle. The loan was provided by AIG. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer and Keith Padien represented the borrower.
FOUNTAIN VALLEY, Calif. — Paragon Commercial Group, LLC, and Canyon Partners Real Estate, LLC, announced the acquisition of Village Center, a 92,386 SF, multi-tenant retail shopping center in Orange County, Calif. for $14.8 million.
ETC — RNR Real Estate Briefs
Helen Mendiola Banks, chair of The TICI Group of Companies, hosted the first annual Texas Gulf Coast Corporate Event for Stealth Realty Advisors and their Strategic Alliance Partners, at Lakewood Yacht Club, south of Houston on Clear Lake on Aug. 11 and 12. Partners from Houston, Dallas, Baton Rouge and New Orleans attended. Stealth Realty Advisors, LLC, a member of The TICI Group of Companies, is a leader in national healthcare real estate based in Houston, with 22 strategic partners in 19 states. Key speakers, virtual and live, from economic development, healthcare real estate investment trusts, private equity investors and investment banking firms addressed the latest in current and future trends in medical office buildings, hospitals and bio life science properties.The TICI Group is celebrating its centennial this year and Banks is the third generation of her family to head the firm. Started by her grandmother, Lucretia Mendiola as a family real estate investment and housing company in Houston in 1921, it transitioned from a family office to a third-party advisory and capital markets company representing health systems and large physician groups in 2010.
Aug 28, 2021 Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
Houston 2020 Ebook version https://tinyurl.com/4xm7z8b5
File: RNR Real Estate Briefs
Photo: 600 East Las Colinas in Irving, Texas. Image Source: Newmark