RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON — Cresa, the world’s largest occupier-only commercial real estate firm, handled the sale of a 50,000-SF, newly developed, multi-tenant industrial park located at 5801 Breen Drive, in north – northwest submarket of Houston. Brandon A. Wuntch and Drew Altmann of Cresa represented the seller, Zermeno GTB, LP in the sale of the property. Austin Honey, Tim Thomas, Andrew Nguyen and Jace Martin of LandPark Brokerage represented the buyer, Harbor Capital, LLC.

HOUSTON – Colliers handled the sale of 9.5 acres on the Gulf Freeway at Gulfbrook Drive near Baybrook Mall in southeast Houston The buyer, Wellby Financial, was represented by Kelly Hutchinson of Colliers Houston. Wellby Financial’s new headquarters will be developed on the site. The firm’s current headquarters are located on Gemini Street, adjacent to NASA’s Johnson Space Center.

HOUSTON — Demonstrating financial ingenuity in a tight capital market, DC Partners used the Commercial Property Assessed Clean Energy (C-PACE) model to retire its construction debt in full, marking a noteworthy step in both real estate development and environmental stewardship. Nuveen Green Capital provided the $46.6M C-PACE loan. Lone Star PACE partnered with the lender to administer the financing. Improvements covered by the loans include sustainable upgrades to the building envelope, lighting, HVAC improvements and plumbing upgrades.

SPRING, Texas — Marcus & Millichap announced the sale of IHOP, a 5,677 SF building with a new 15-year lease. Located at 25619 Interstate-45 in Spring, the dining spot is run by the largest IHOP franchisee in the country, who operates some 300 units.

HOUSTON — Oxford Partners recently represented Klass Time, Ltd., in the lease and relocation of 3,822 SF at 3700 Buffalo Speedway in Houston. Oxford Partners’ Perry Mazzone and Ryan Hartsell represented the tenant. The landlord, Moody National Buffalo Speedway MT, L.P., was represented by Jamie Owens and Stephen Woods of Moody National.

MONTGOMERY, Texas — SVN | J. Beard Real Estate recently facilitated a lease with Nona’s Italian Grill at 950 Pine Market Ave. in Montgomery. Pine Market is a newly developed, active commercial destination within Woodforest, Montgomery’s top-selling master-planned community. Advisor Jackson Cain of SVN | J. Beard Real Estate represented the private owner and landlord. Nona’s Italian Grill was represented by Josue Posada with Posada Realty Associates.

TOMBALL, Texas — Black Bear Diner has leased 5,250 SF of retail space in The Grand at 249 at TX 249 and the Grand Parkway/TX 99, Tomball, from NewQuest Properties. Andrew Alvis of NewQuest represented the landlord. Matt Parsons of JLL represented the tenant.

HOUSTON — Oxford Partners recently represented Baker & Associates in the lease renewal of 2,209 SF at 950 Echo Lane, Houston. Oxford Partners’ Vincent Vega and Britney Barcus represented the tenant, Baker & Associates. The landlord, Echo RE Investors, LLC, was represented by Aaron Ander of Fuller Realty.

FRIENDSWOOD, Texas — Pinch A Penny has leased 3,034 SF of retail space in Friendswood Crossing at FM 528 and 518, Friendswood, from NewQuest Properties. Lara Lee LaMendola of NewQuest represented the landlord. The tenant had an in-house representative, Brian Andriese, handle negotiations.

THE WOODLANDS — Kimberly DeVos of Cypressbrook Company represented the tenant, Panther Creek Medical Center, P.A., in the renewal/expansion of 8,343 SF of medical space at 4840 W Panther Creek Drive. The landlord, Texican Realty Services, LLC, was represented by Eduardo Pages.

HOUSTON — The Finial Group announced the lease renewal with the American Automobile Association (AAA) at 14505 Torrey Chase Blvd. in Houston. Jason Gibbons represented the landlord

STAFFORD, Texas — Andy Ayers of Cypressbrook Company represented Cornerstone Caregiving Sugar Land, which leased office space at 10707 Corporate Drive in Stafford. The landlord, LandPark Commercial, was represented by Matt Easterling.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Partners Real Estate arranged the sale of a 19,279 SF medical/retail property at 9707 Anderson Mill Road in Austin. Partners’ Ryan McCullough and Sean Anderson represented the sellers, Scott M. Morledge and Bruce A. Wencel. The buyers, Abhishek Mathur and William George of Excelsior Capital, represented themselves.

DALLAS – Trademark Property Co. has received approval from the Dallas City Council to rezone 3900 Lemmon Ave. as a multifamily and retail community. The mixed-use development will include more than 400 apartments and ground-floor restaurants. The complex will be three to seven stories tall and cover three acres at Lemmon Avenue and Reagan Street.

SAN ANTONIO — Newmark facilitated the sale of The Luxx, a premier student housing community at 6023 UTSA Blvd. in San Antonio, within walking distance of The University of Texas at San Antonio (USTA). Newmark’s Ryan Lang, Jack Brett and Ben Harkrider represented the seller, a joint venture between Crow Holdings Capital and The Preiss Company. The buyer was Palladius Capital Management.

DALLAS – Shoal Creek Capital, a Dallas-based industrial real estate investment firm, is set to deliver Trinity Industrial Park, an 80,000 SF, Class A distribution and warehouse park. Located at 8733 North Stemmons Freeway, on the I-35E frontage road near Regal Row, the project marks a milestone as the first industrial development in the Brookhollow submarket built from the ground up in more than 15 years. Chase Miller and Mark Miller of NAI Robert Lynn are leasing the project.

KYLE, Texas — Newmark facilitated the sale of Oaks on Marketplace, a 254-unit multifamily community near I-35 in Kyle, south of Austin. Newmark’s Patton Jones and Andrew Dickson represented the seller, SPI Advisory, a Dallas-based multifamily private equity firm. The buyer was Sherman Residential of Chicago.

NATIONAL — RNR Real Estate Briefs from Realty News Report

CHARLOTTE, N.C. — Dallas-based Constellation Real Estate Partners, an investor and developer of logistics properties, has acquired 41.42 acres of land in Charlotte for development of Constellation 485 South, a 374,220 SF, Class A industrial building on Continental Boulevard in the Southwest/Stateline submarket

ATLANTA, Ga. — Hunter Hotel Advisors announced the successful sale of the Le Méridien Atlanta Perimeter. Whitestone Companies purchased the 275-key asset from an institutional seller for an unclosed price. Hunter’s Tim Osborne and Spencer Davidson represented both parties in the all-cash transaction.. Sitting adjacent to Perimeter Mall, the 12-story, 224,684 SF hotel is near the corporate offices of State Farm and Mercedes Benz.

ETC — RNR Real Estate Briefs from Realty News Report

DALLAS – Houston-based multifamily developer Vero Sade officially unveiled a multimillion-dollar makeover of 3700M, a 381-unit luxury high-rise at 3700 McKinney Ave., and simultaneously debuted its club living concept in Dallas. Originally built in 2014, the 21-story asset located in the sought-after Uptown submarket brings the energy and life of a social club into the multifamily space with specialized programming ranging from chef demonstrations and themed fitness classes to poolside pampering and guest lectures.

“Vero Sade’s club living concept is designed to reimagine traditional multifamily life through elevated, thoughtful design and purposeful programming – elements intended to encourage interactions, relationship building and ultimately, community, among its resident members,” said Dan Bassichis, co-founder of Vero Sade. “A key residential anchor of its walkable, mixed-use Uptown Dallas environs, the new 3700M will be attractive to renters by choice and those who value location, luxury and connection to their neighbors.”

Helming the project’s design rebirth was East Coast design shop, Good City Studio, whose practice includes a mix of high-profile multifamily properties, private clubs, health and wellness offerings and hotels, including Colorado’s Snowmass Club, Equinox Hotels and Philadelphia’s acclaimed Fitler Club – a project from Vero Sade’s parent company, Vero Capital.

Inspired by the intersection of home and hospitality, the re-envisioning of 3700M was intended to foster social connections, and as such, Vero Sade and Good City Studio turned lackluster spaces into meaningful places.

RNR Real Estate Briefs are published by Realty News Report

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