Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report — MAGNOLIA, Texas – Parkside Capital announced the sale of 35 acres to The Farm League. The property, located at the corner of State Highway 149 and FM 1488 in Magnolia, will be the site of a recreational sports complex. Parkside Capital, in collaboration with Gulf Coast Commercial, also developed the nearby Magnolia Village project which includes a recently announced Lowe’s. The Farm League facility will be a top-tier recreational amenity, said Brett Walker, President of Parkside Capital.

HOUSON – Standard Real Estate Investments, LP, a national real estate investment and development firm with offices in Los Angeles and Washington, D.C., is making an equity investment to develop Veterans Memorial Business Park, a 463,000-SF industrial park in partnership with Investment & Development Ventures LLC (“IDV”). The rare infill site is located at 10326-10330 Veterans Memorial Drive in Northwest Houston with construction anticipated to begin in the second quarter of 2024.

HOUSTON — Colliers announced the sale of the 8,100 SF industrial facility at 21315 Inverness Forest Blvd. in Houston. The buyer, Pillar Investment Group, was represented by Julia Ly of Oxford Partners. The seller, 315 Inverness, LLC, was represented by Mike Taetz of Colliers.

HOUSTON — Cresa, a major occupier-only commercial real estate firm, has closed on a 14.8-acre tract of land on Becker Road near Waller-Tomball Road in Houston’s Northwest outlier submarket. Brandon A. Wuntch and Drew Altmann of Cresa represented the buyer, Zermeno GTB, LP, in the purchase. Zermeno GTB plans to develop an industrial park on the site.

THE WOODLANDS, Texas —Howard Hughes Holdings has started construction on a revitalization of Grogan’s Mill Village Center in The Woodlands. It will create a modern community hub anchored by a new library and a community center. The Woodlands is home to 123,000 people and 72,000 people work there.

CONROE, Texas – SVN | J. Beard Real Estate handled the sale of a 4,800-SF industrial building on 2.5 acres at 14202 E Horseshoe Bend. Diana Gaines of SVN | J. Beard Real Estate represented the seller, Flyball Property Management. The buyer, JP Wheel Supplies LLC, was represented by Matthew Clegg with Realty One Group Iconic.

HOUSTON — Howard Hughes Holdings announced the first retail and restaurant tenants coming to its 70-acre mixed-use development Village Green, the initial phase of the emerging 925-acre urban district of Bridgeland Central. The new establishments include Jonathan’s The Rub, Sweet Paris Crêperie & Café, Crust Pizza Co., VeneFan Nail Spa, Teal Poppy, and Gelato & Co.

THE WOODLANDS, Texas – Hunington Properties, Inc. has signed a 1,500-SF lease with Happy Life Taekwondo in the Shops at Alden Bridge on FM 1488 in The Woodlands. Jonathan Aron represented the landlord.

MANVEL, Texas — Tricoast Homes, a Houston-based residential real estate builder, has opened a model home in Canterra Creek south of Pearland.

The Woodlands, Texas – SVN | J. Beard Real Estate has moved its headquarters to an expanded office of 10,191 SF in The Woodlands at 9320 Lakeside Blvd., Suite 250 in the Research Forest Lakeside campus adjacent to Hughes Landing. The company also has offices in Houston, Montgomery, and Midland.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Rastegar, based in Austin, has closed a $31.7 million loan to finance the construction of the first phase of Infinity Square, its 318-acre master-planned community in Kyle. Trez Capital provided construction financing for the initial 329 single-family properties. CastleRock Communities and Brightland Homes will acquire the first phase of lots. Infinity Square is east of Interstate 35 and 21 miles south of Austin. It will have 1,000 single-family lots, 1,400 apartments and 185,000 SF of commercial.

SAN ANTONIO – The University of Texas at San Antonio and JLL announced a solicitation for a lead development team to design plans to finance, operate and maintain a mixed-use development on 28.5-acres of university-owned land at North Loop 1604 West and Kyle Seale Parkway.

DALLAS – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, announced a 47,900 SF lease renewal for Cooper & Scully, P.C., a litigation firm in the Founders Square office building at 900 Jackson St. in Downtown Dallas. Stream’s Rhett Miller and Sam Bass represented the landlord, Charter Holdings. John Ellerman and Jeff Ellerman of CBRE represented the tenant.

PLANO, Texas — Cadence McShane Construction Co. leased 16,242 SF of office space in One Legacy Circle in Plano from Gildenson Real Estate. Jared Laake of Bradford Commercial Real Estate Services represented the landlord. Garrison Efird and Steven Blankenship of Newmark represented the tenant.

NATIONAL — RNR Real Estate Briefs from Realty News Report

LOS ANGELES, Calif. – Cushman & Wakefield announced the sale of 612 S. Broadway, an 80,000 SF landmark building in Downtown Los Angeles’ historic core. The six-story creative office and retail property was sold for $16 million and was brokered by Cushman & Wakefield’s Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn and Kylie Rawn, in partnership with Mark Zakarian. It was built in 1924 as Desmond’s Department Store and designed by renowned architect A.C. Martin.

NASHVILLE, Tenn. – TruAmerica Multifamily, a multifamily investment firm, acquired Charleston Hall, a 194-unit community in the Nashville area. The property was secured in partnership with Spoke Real Estate Capital. Matt Ferrari is head of acquisitions and co-CIO of Los Angeles-based TruAmerica. Dennis Harris and Zac Wracher of The Kirkland Company represented the seller while Rob Russell and Rich Kourbage of Greystone procured the debt for the buyer.

NAPLES, Fla — The Egan Group, LLC, purchased the 68,000 SF Truist office building in Naples’s Pelican Bay neighborhood,  JLL Capital Markets announced. The seven-story building is 90 percent occupied. The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano, Blake Koletic and Hunter Smith.

RNR Real Estate Briefs are published by Realty News Report

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