RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – FULSHEAR, Texas –  JLL Capital Markets announced the sale of the Shops at Cross Creek, a fully leased, 24,188 SF retail center in Fulshear. JLL worked on behalf of the seller, Rycore Capital, LP. The buyer was Phillips Edison & Company. JLL Capital Market’s team representing the seller was led by Ryan West, John Indelli and Gianna New.

HOUSTON — Colliers announced the sale of 31.6 acres of industrial outdoor storage with 23,000 SF of industrial improvements located seven miles from Port Houston at 5308 Oates Road. Paul Dominique, Brad Beauchamp and Jon Lindenberger of Colliers represented the seller, OFS Global Holdings.

HOUSTON – Time Manufacturing Holdings, LLC leased 29,974 SF at 22218 McCleskey Road. Heath Donica, Carry Latham, and Jax Rawlinson with Stream Realty Partners represented the landlord, Nickers Interests. Joseph Berwick with JLL represented the tenant.

KATY, Texas — In a deal brokered by David Alexander and Josh Cheatham of Newcor, History Maker Homes made a strategic addition to its growing development in Katy. Just over a month after acquiring 131 acres off Stockdick and Schlipf roads, History Maker purchased an additional 20 acres.

HOUSTON – Transwest Mobile LLC leased 16,000 SF at 11610 Bammel North Houston Road. Heath Donica and Jack Rathe with Stream Realty Partners represented the tenant. Brian Gammill and Darryl Noon with Transwestern Commercial Services represented the landlord, All HTX Investments, Ltd.

CONROE, Texas – Bauer Group negotiated two full-building leases totaling 84,320 SF at NorthStar Industrial Park, a five-building industrial project on 79 acres in Conroe. The transactions include a 57,120 SF lease by Unimacts and a 27,200 SF lease with Membrane Platforms. Avison Young’s Drew Coupe and Dawson Smith, both from the firm’s Houston office, are exclusively representing Bauer Group. Membrane Platforms was represented by Ron Wickes of Walzel Properties.

HOUSTON – H2i Group, Inc. leased 12,600 SF at 7240 Brittmoore Road. Boone Smith and Garret Geaccone with Stream Realty Partners represented the landlord, DRA Advisors. Justin Clark of Clark Gains Property represented the tenant.

HOUSTON – Kahani Social Group is opening Pok Pok Po on Louisiana Street near Elgin in Midtown. Spanning 2,000 SF, Pok Pok Po serves fried chicken with creative flair.

SUGAR LAND, Texas – Oxford Partners represented Thomas Kelly Software Associates in the lease renewal and expansion of 3,119 SF located at One Sugar Creek Center Boulevard. Oxford Partners’ Perry Mazzone and Ryan Hartsell represented the tenant. The landlord, In Receivership – Mark Fowler is Court Appointed Receiver, was represented by Louann Pereira of Transwestern.

HOUSTON — Chase Tucker of the Finial Group represented the seller of a 7,818 SF medical office building at 9102 Elizabeth Road.

KATY, Texas — Beans & Brew leased 1,575 SF of retail space in Shops at Katy Pointe on Clay Road. The landlord, Katy Point Investments, LLC, was represented by Nick Ramsey and Kevin Sims of NewQuest. Russell Janicek of Rally CRE represented the tenant.

WILLIS, Texas — Jackson Hewitt Tax Service leased 1,400 SF in Willis Town Center near Interstate 45 and FM 1097 from NewQuest. Lara Lee LaMendola of NewQuest represented the landlord. Adriana Shaw and Timothy Stewart of Colliers represented the tenant.

TEXAS — RNR Real Estate Briefs from Realty News Report

FORT WORTH — Fort Worth-based real estate developer Wilks Development acquired One Ridgmar Centre, a 10-story, 177,199 SF, Class A office tower in west Fort Worth. Wilks Development plans significant renovations, said President and CEO Kyle Wilks. Built in 1986, One Ridgmar Centre, which is 68 percent leased, was most recently owned by Holt Lunsford, which purchased it in 2017.

AUSTIN –  JLL Capital Markets has secured construction financing for Far West Apartments, a 321-unit multifamily community under development in Austin. JLL represented the borrower, Austin-based Central Southwest Texas Development, in arranging the 10-year, floating-rate loan through Poppy Bank. Far West Apartments, with an average unit size of 880 SF, will be located in the Northwest Hills community and is scheduled for completion in April 2027. JLL Capital Market’s Debt Advisory team included Doug Opalka, CW Sheehan and Samantha Jay.

SAN ANTONIO – Affinius Capital and PK2 announced that Affinius Capital has acquired the remaining interest in the Mountpark development firm. In a separate transaction, investment vehicles managed by Affinius Capital acquired Mountpark Logistics EU Sarl, the holding company that owns the joint venture real estate assets. This acquisition follows a decade-long joint venture with Mountpark, a Pan-European development company founded by John Cutts. In November, Affinius Capital became the sole owner of Mountpark, solidifying Affinius Capital’s position in the European logistics market.

FORT WORTH — Ron Sturgeon Real Estate acquired McMillan Center, a three-building, 137,083 SF industrial complex on 10 acres at 2550 McMillan Parkway from tenants-in-common Gyant Coors, LLC, Gyant Josh Road, LLC, and Gyant V, LLC. Shane Benner of Bradford Commercial Real Estate Services represented the buyer. Todd Hawpe of Transwestern represented the seller.

SAN ANTONIO – Newmark arranged the sale of The Sterling at Oak Hills, a 330-unit multifamily asset in the South Texas Medical Center area of San Antonio. Newmark Multifamily Capital Markets’s Patton Jones, Matt Michelson and Andrew Dickson represented the seller in the sale to AHV Communities, a San Antonio-based developer and operator of single-family rental communities.

GRAND PRAIRIE, Texas — Clearworth Capital acquired the Forum at Grand Prairie, a 304-unit multifamily community in Grand Prairie near Dallas. Asher Hall and Grant Raymond of Cushman & Wakefield represented an undisclosed seller. Grand Prairie has seen a 10.1 percent rise in rents over the past three years, said Raymond.

IRVING, Texas – Landsea Homes Corp., a publicly traded home builder, leased 14,725 SF at Tower 1320 on Greenway Drive in Irving, for the company’s Dallas-Fort Worth division headquarters. Melissa Kelly is president of the DFW Division. The new offices will include a 3,000 SF design studio. Based in Dallas, Landsea has developed homes and communities in New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas and California.

CORPUS CHRISTI — Hunter Hotel Advisors handled the sale of the 101-room Hampton Inn Corpus Christi. A regional hotel operator purchased the property from American Hotel Income Properties. Hunters ’s Kami Burnette and Mason McDavid represented the seller. Corpus Christi has a number of corporate hubs including Kiewit Offshore Services, Tesla Lithium Factory and a Cheniere Energy LNG Facility.

ARLINGTON, Texas — O’Brien Engineering leased 6,229 SF in Bent Tree Green, 17300 N. Dallas Parkway. Richmond Collinsworth and Melanie Hughes represented the landlord, Bradford BTG Partners, LLC. Kevin Finch of Finch Commercial Real Estate was the tenant representative.

NATIONAL — RNR Real Estate Briefs from Realty News Report

ATLANTA — The Finial Group of Houston announced the acquisition of a 10,000 SF industrial building on Cripple Creek Drive in Atlanta. Led by Jack Gaffney and Kevin Coleman, this acquisition is an addition to the Finial Group’s Single Tenant Industrial Aggregation Fund.

RIVERSIDE, Calif. – Cushman & Wakefield announced the sale of Summit Business Center, a 138,697 SF business park in Riverside. The five-building, single-story, multi-tenant complex was built out as an 85 percent office asset. The property was acquired by Southern California-based Dunbar Real Estate Investment Management for more than $19 million.

BAL HARBOUR, Fla. – A partnership including The Related Group and Two Roads Development secured a $424 million construction loan for the Rivage Residences Bal Harbour, a 56-unit oceanfront condo north of Miami Beach. Tyko is the lender for the 24-story project which will have units ranging between 3,300 SF and 13,000 SF and priced between $8 million and $64 million.

CHARLOTTE, N.C. — Linea, a new 24-story tower in Charlotte’s South End, has begun pre-leasing its 370 upscale apartments. Rent for studio units starts at $1,700. Linea has 18,000 SF of retail and dining space. Portman Residential and partner National Real Estate Advisors are the developer/owners of Linea. JE Dunn is the general contractor and S9 Architecture was the design architect. Foundry Commercial handles retail leasing. The residential tower is managed by Bozzuto.

PHOENIX – Cushman & Wakefield advised an entity controlled by Bank of America in the $23.7 million sale of 20 East Thomas Road, a 25-story office tower totaling 548,938 SF in Phoenix’s Midtown submarket. The buyer was U-Haul International, a Phoenix-based moving company. The building will serve as an expansion of the U-Haul’s corporate campus.

ETC –

Texas Triangle Firm Buys San Antonio Center

SAN ANTONIO – Austin-based 35 South Capital acquired The Collection, a mixed-use center in San Antonio’s Alamo Heights area.

The 52,000-SF center, which sits on 3.75 acres, is home to the beloved, family-owned SoLuna Mexican restaurant. The seller is an entity affiliated with Lindenmuth Realty LP.

This marks 35 South Capital’s second acquisition in San Antonio, with the real estate firm purchasing the King William Center in early 2024. Before that, it purchased Casis Village in Austin, which is another rare retail center in an upscale neighborhood.

All three centers were purchased in off-market transactions from sellers that had owned the properties for many years.

35 South Capital’s current offering, Willow City Investment Fund, purchased The Collection, and is in the process of raising $100 million to acquire high quality properties in the Texas Triangle submarkets with high demand and low inventory. It also plans to continue to focus on relationship-driven, off-market acquisitions. John Amini is 35 South Capital’s Managing Director.

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

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

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