HOUSTON – (Realty News Report) – CBRE Capital Markets Debt & Structured Finance has secured $16.1 million in bridge financing for Sugar Land Physicians Center, a 56,063 SF medical office building at 7616 Branford Place in Sugar Land. Dana Summers, Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell and Jim Korinek of CBRE arranged the loan on behalf of the borrower, American Commercial Contractors, LLC. Money360 provided the three-year loan.
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NAI Partners recently arranged a 49,100 SF industrial sale for SES Properties, LP, at 10000 West Airport Blvd. in Houston. NAI Partners’ Chris Caudill and Griff Bandy represented the seller in the transaction. Tiffany Sebastian with RE/MAX Vintage represented the buyer, Classic Chevrolet of Sugar Land.
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CF Investments LLC has purchased a 108,740 SF property on 10.91 acres at 10966 Grant Road in Houston from WP Norchester, LP. David Luther of NewQuest Properties represented the buyer.
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Matthew Franke, Ray Driver and Michael Borden from NorthMarq’s Houston office arranged the $28.5 million refinance of Champions Forest Plaza, a 187,000 SF retail property at 5466 FM 1960 West in Houston. NorthMarq arranged financing for the borrower, Smithco, through its relationship with OneAmerica. The property was 92% occupied at time of closing. Anchor tenants include The Container Store, The Gap, Starbucks, Ann Taylor, Jos. A. Bank and Fidelity Investments.
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The Howard Hughes Corp. has announced that a Mendocino Farms Sandwich Market will soon open on the ground level of the eight-story multifamily residences, Two Lakes Edge, in Hughes Landing, a 79-acre mixed-use development in The Woodlands. The building occupies 2,838 SF, with a patio of about 900 SF.
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NAI Partners recently arranged a 6,188 SF office lease and expansion for The Lane Law Firm at 6200 Savoy Drive in Houston. NAI Partners’ Jason G. Whittington represented the tenant in the transaction. Tara Oliver with Oak Leaf Management represented the landlord, GAR Associates XIII, LLC.
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Raising Cane’s restaurants recently purchased a parcel of land at Hwy 59 & West Airport (The Grid) in Stafford from Stafford 59 & Airport, LP. Krystal Mutina of Edge Realty Partners represented the seller and Jonathan Probst of Retail Connection worked for the buyer.
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Doc Perrier and John Buckley with Finial Group secured a lease at 2950 South Gessner Road in Houston. Sapphire Investments, LLC, renewed its lease for a 4,040 SF space while Derek Leonard with Chodrow Realty Advisors represented the tenant in this transaction. Finial Group also manages and leases 2950 South Gessner Road.
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The Howard Hughes Corporation has announced that Novopelle Med Spawill soon open at 25 Waterway Ave. in The Woodlands after signing a 1,254 SF retail lease. Waterway Square along The Woodlands Waterway is the first location in north Houston for the med spa and its sixth location in Texas.
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Elsewhere in Texas
SHB Development, a commercial real estate development, sales and leasing company, and Stream Realty Partners, a national real estate investment, development and services firm, announce that construction on 17230 N. Dallas Parkway will be completed in April. The two-story, Class A office building will contain 48,000 SF of office space with a best-in-class amenity base. Rhett Miller and J.J. Leonard of Stream’s Dallas team will lease the property on behalf of SHB Development.
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Lee & Associates – Houston, a commercial real estate services firm, has announced an industrial lease with Hotard Coaches, a Louisiana-based charter bus company, to take the entirety of a 26,503 SF property at 4600 and 4700 Highway 73 in Port Arthur. Trey Erwin and Justin Cole of Lee & Associates – Houston represented the landlord, Carlisle Port Arthur LP, in the transaction.
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American Structurepoint, Inc. has leased 3,085 SF at 801 Hesters Crossing Road in Round Rock, Texas. Kelly Woodruff with CBRE in Austin represented the tenant. The landlord is M4 La Frontera, LLC.
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Upland Software, Inc., has obtained a 4,748 SF lease at 9211 Waterford Centre Blvd., Austin, to continue to expand its Austin footprint. John Gump and Caroline King with CBRE in Austin represented the tenant. The landlord is Waterfront Iv Hp, Ltd.
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Lane Kommer of Henry S. Miller represented Country Bible Church of Kaufman in the sale of 8.5 acres of vacant land on Kelly Boulevard near President George Bush Turnpike. Randall Chrisman with The Chrisman Company represented the buyer, Harlan Properties, which is preliminarily considering developing townhomes.
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United Investexusa 4, LLC, doing business as New Western Acquisitions, has obtained a 2,048 SF office lease at 3303 Oakwell Court in San Antonio. Brad DuHamel with Site Selection Group represented the tenant. Travis Wright with CBRE in San Antonio represented the landlord, 3303 Oakwell Court, LLC.
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Steven L. Green & Upwords, Inc. have renewed a lease for 1,081 SF at 17721 Rogers Ranch Parkway in San Antonio. Russell Noll with Transwestern represented the tenant in the transaction. Travis Wright with CBRE in San Antonio represented the landlord, Commerce NFLP, LLC.
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Genova Health, LLC, has obtained an office lease for 4,050 SF at 901 NE Loop 410 in San Antonio. This is a new deal, said company officials. Genova is expanding its presence in San Antonio and has moved from another location in that city. Kyle Gunter with CBRE in San Antonio represented the tenant. The landlord is NE Loop 410, LLC.
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Mesa Digital has acquired a retail lease for 1,463 SF at 3801 Berkman Drive in Austin. Morin Scott with TenantBase was broker for the tenant. Nicole Woodworth with CBRE in Austin was broker for the landlord, DMA Development Company, LLC.
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Residential Briefs
Provident Realty Advisors last month selected CF Real Estate Services to manage Canal 1535. The high-rise celebrated its opening with a ribbon cutting ceremony at 1535 Canal St. in New Orleans, and was sponsored by the New Orleans Chamber of Commerce.
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KB Home announced the grand opening of Sky View, a new single-family home community in Converse outside San Antonio that offers a collection of affordably priced one- and two-story floor plans. The community offers a total of 13 floor plans, with up to five bedrooms and three-and-a-half baths. The homes range in size from about 1,200 to 2,700 SF. Pricing begins in the $180,000s.
March 3, 2020 Realty News Report Copyright 2020
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