RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON – Vaalco Energy leased 23,417 SF at 2500 CityWest, a 25-story office tower at Westheimer Road and West Sam Houston Parkway. Win Haggard of Cushman & Wakefield represented ownership, Affinius Capital, under the direction of Dennis Tarro and Phillip Moore with real estate firm Patrinely. Joshua Brown and Audrey Selber of Newmark represented Vaalco Energy, which will occupy the fourth floor. Patrinely oversees the building’s leasing and management.

SPRING, Texas –  Silvestri Investments acquired a 24-hour fitness facility a few blocks from the global headquarters of Exxon Mobil in City Place, a master planned community formerly known as Springwoods Village on Houston area’s north side. The 38,000 SF structure was built in 2019 on 2.3-acres at 1000 Lake Plaza Drive in Spring. JLL Capital Markets’ Investment and Sales Advisory team representing the seller was led by Ryan West, John Indelli, Alex Geanakos, Nick Franklin and analysts Gianna New and Torri Rosen. City Place, in northernmost Harris County, contains 14 million SF of commercial office space, hotels, multifamily and single-family homes.

HOUSTON – Partners Capital, the investment platform of Partners Real Estate, announced the acquisition of 153 acres at the southeast corner of FM 1960 and Aldine Westfield in North Houston. “Our business plan for this site is to develop all the necessary infrastructure, including a detention pond, a major thoroughfare connecting FM 1960 to Aldine Westfield, along with all necessary utility and drainage systems,” said Dan Moody of Partners Land Fund. “We want to create a fully entitled, shovel-ready business park that will cater to industrial users.”

TOMBALL, Texas — Colliers announced the sale of a 16,141 SF office warehouse on 2.5 acres in the Tomball Business & Technology Park at 2121 S. Persimmon St. Tom Condon Jr. of Colliers represented the seller, KTB Properties, LLC. Al Gosen of Texas United Realty represented the buyer, W. E. Mauney, LLC. The closing was coordinated by Jane Mathews and Erin O’Neal with Stewart Title – Tomball.

HOUSTON — Oxford Partners represented Lodging Solutions, LLC, in the leasing of 44,000 SF at 750 Almeda Genoa. Oxford’s Matt Rogers represented the tenant.

HOUSTON –  JLL Capital Markets facilitated the sale of Little York Plaza, a 114,982 SF shopping center on 11.5 acres, anchored by Sellers Bros. grocery. The buyer was The Criterion Fund, a retail development and investment group. Situated at 1523 Little York Road, Little York Plaza is located along Hardy Toll and Little York roads, with a daily traffic count of 41,370 and 25,261 vehicles respectively. Built in 1997, it’s 98.3 percent occupied. JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Ryan West and John Indelli.

HOUSTON — Oxford Partners represented Industrial Consulting & Supply Corp. West Inc., d/b/a Core Refractory Systems, in the purchase of a 21,088 SF building at 1524 Mooney Road. Oxford’s Matt Rogers represented the buyer while Matt Clay and Pat Wolford of Lee & Associates represented the seller.

HOUSTON – DK Haney Roofing leased a 10,066-SF warehouse at 6812 Bourgeois Road, the Finial Group reported. John Buckley and Christian Villarreal represented the landlord.

HOUSTON — Oxford Partners represented the Law Firm of David Le in the lease of 1,805 SF at 1155 Dairy Ashford Road, Houston. Oxford’s Julia Ly represented the tenant. The landlord, Trigild, was represented by Courtney Coleman of JLL.

BAYTOWN, Texas — Oxford Partners represented Signature Health Services in the lease and relocation of 9,113 SF at 1300 Rollingbrook Drive in Baytown. Oxford’s Vincent Vega represented the tenant. The landlord, Amegy Bank, was represented by Courtney Buckout of Avison Young.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Houston-based Triten Real Estate Partners acquired the Central Texas Logistics Center, a seven-building, 485,885 SF industrial portfolio on Clovis Barker Road in Hays County. The 46-acre property marks Triten’s first asset in the Austin submarket and its largest industrial acquisition to date. “Triten continues to prove its tenacity in pursuing attractive industrial assets in coveted markets across the country,” said Triten’s Will Hedges.

AUSTIN — The Dallas-based office of Trez Capital arranged refinancing for a portfolio of finished residential lots with geothermal power for Boston-based developer Taurus Investment Holdings at Whisper Valley, a 2,063-acre master planned community in East Austin. Phase three and four lots range from 35 to 50 feet and will feature a variety of zero energy-capable single-family homes that produce power and reduce consumption through the combination of geothermal heat pumps and photovoltaic solar panels. Located along FM 973 near State Highway 130, Whisper Valley is a short drive from Tesla’s Gigafactory.

SAN ANTONIO – Newmark arranged the sale of O’Connor Oaks, a 165-unit, value-add multifamily asset located at 13658 O’Connor Road in northeast San Antonio. Newmark’s Jim Young and Chase Easley represented the seller, Austin-based JMB Group. Salt Lake City-based Preserve Partners was the buyer.

DALLAS — Rare and Unique Inc. has leased 4,789 SF of flex space in Manana Plaza in Dallas. Jason Finch and Justin Greenwood of Bradford Commercial Real Estate Services represented the landlord. Alex Bryan of Rich Young Co. represented the tenant.

SAN ANTONIO — Cove Capital Investments, a Delaware Statutory Trust sponsor company, acquired The Peanut Factory Lofts, a 102-unit multifamily asset in historic downtown San Antonio. The acquisition will establish the Cove Capital San Antonio Multifamily 74 DST, a Regulation D, Rule 506(c) offering that aims to raise $18,679,418 in equity. Dwight Kay, managing member and founding partner of Cove Capital Investments, said it was an all-cash acquisition. Constructed in 2014, the lofts have a net rentable area of 96,184 SF and 127 parking spaces.

SAN ANTONIO – HistoryMaker Homes started construction on 36 single-family homes in the Vista Ridge community in Live Oak, Texas, near San Antonio.

NATIONAL —RNR Real Estate Briefs from Realty News Report

PHILADELPHIA– –Lovett Industrial, a Houston-based real estate investment firm, has announced its groundbreaking of Highway 1 Commerce Center, a strategic industrial development site at 11301 East Roosevelt Blvd in Philadelphia. Located in a key last-mile market for distribution, Highway 1 Commerce Center, a 176,105-SF facility on a 14.5-acre site, will offer 36-foot clear heights. Leasing efforts for Highway 1 Commerce Center will be handled by Jonas Skovdal and Chris Butera of Cushman & Wakefield. Construction financing is by First Citizens Bank. BSI Construction is the General Contractor. Cushman & Wakefield’s Debt and Equity team led by John Alascio helped secure construction financing.

RIFLE, Colo. — Chicago-based Evergreen Real Estate Group, active in both affordable and market-rate multifamily properties, announced the start of construction on Rifle Apartments, a 60-unit income-restricted rental community in Rifle, Colo.

SOQUEL, Calif. – Cushman & Wakefield brokered the sale of a 2.6-acre undeveloped site near Soquel Dr in Soquel Drive. The Santa Cruz County property was acquired by Pacific West Communities, Inc. for $10.35 million. Pacific West Communities, with development partner Linc Housing plan to construct a 289-unit affordable housing project. Reuben Helick with Cushman & Wakefield facilitated the land sale transaction. The seller was Blam Jade LP, owned by Don Groppetti, of the Groppetti Automotive Family.

ETC. — RNR Real Estate Briefs from Realty News Report

Northwest Houston Business Park Sold

HOUSTON — Urban Logistics Realty, a Texas-based real estate developer and a real estate investment fund advised by Crow Holdings Capital announced the sale of Urban District 290 business park to a local distributor in Northwest Houston.

“Urban District 290 is the latest addition to ULR’s series of urban district developments, reflecting our commitment to advancing the evolution of industrial spaces,” said Urban Logistics Realty Founder Jason A. Nunley. “Our focus is on creating exceptional real estate that enhances the lives of the people, companies and communities we serve.”

The two-building, shallow bay project totaling 238,200 SF marks ULR’s first development in Houston. Located near Highway 290 and Bingle Road, the project is one of the largest infill developments built in Northwest Houston in 25 years.

“We received substantial interest from tenants looking to upgrade their Class B space in Northwest Houston,” said Urban Logistics Realty Development Manager Zach Stull. “We have great confidence in the Houston market and are committed to long-term investment in the city.”

A real estate investment fund advised by Crow Holdings Capital was the investment partner, and Inwood Bank provided financing. Powers Brown was the architect, Kimley Horn was the engineer and Burton Construction was general contractor. Nathan Wynne and Jason Dillee with CBRE managed the sale for ULR and Crow Holdings Capital.

Midway Adds Tenants at East River

HOUSTON – Midway’s East River expanded its roster of tenants with the addition of Laffa Mediterranean and SLT Hair Extensions. Abby Fraher with Parkway represented the landlord. Construction on East River’s first phase is complete. Several tenants have moved into their new spaces including Le Tesserae by The Astorian, Impact Networking, Method Architecture, TEAL, Suderman & Young Towing Company and OJB Landscape Architecture. Additional retail, dining, and entertainment establishments will open soon including CoolXDad, City Cellars HTX, HOTWORX, Kyuramen, La Calle Tacos & Cantina, Lick Honest Ice Creams, Tomi Jewelry, URBN Dental, EADO Eye Studio, Houston Maritime Center + Museum and Champions Mortgage. Additionally, Orion Holdings Group, Inc., Anton Paar USA, and Port Houston have all selected East River for their headquarter locations. Port Houston’s new headquarters is being developed by Midway within the first phase, while Anton Paar USA has purchased a site to construct its new South Region headquarters. Lacee Jacobs is the Senior Managing Director of Retail Leasing at Parkway.

Mark Your Calendar

Downtown Houston + will present its State of Downtown Annual Meeting on Oct. 16 at 11 a.m. to 1:30 p.m. at the Hilton Americas, Downtown 1600 Lamar St. Keynote speaker: General Stan McChrystal. Information:

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston +

LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings

LISTEN: THE RALPH BIVINS PROJECT with Jeff Havsy of Moody’s Analytics

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

LISTEN: THE RALPH BIVINS PROJECT with John S. Moody, Jr. of Moody Law Group

LISTEN: THE RALPH BIVINS PROJECT with Scott Martin of Granite Properties

LISTEN: THE RALPH BIVINS PROJECT with Robert Clay of Clay Development

LISTEN: THE RALPH BIVINS PROJECT with Alma Zavala of CommGate

LISTEN: The RALPH BIVINS PROJECT with Adam Lair of Partners Capital

LISTEN: The RALPH BIVINS PROJECT with Jake Donaldson of Method Architecture

LISTEN: The RALPH BIVINS PROJECT podcast with Bill Baldwin of BLVD Realty