RNR Real Estate Briefs from Realty News Report – HOUSTON – Colliers handled the sale of 1314 West Sam Houston Parkway, a 64,846 SF industrial building located along Beltway 8, just north of Interstate 10. Critical Rental Solutions occupies the building under a long-term net lease. Todd Moore of Colliers represented the seller. “We are pleased to have generated multiple offers on the property which gave the seller the ability to select a buyer based on a combination of price, terms and ability to close,” said Moore, a principal of Colliers. “We ultimately closed the transaction with a 1031 Exchange buyer who paid all cash at 97% of the asking price.”
HOUSTON – Newmark and Moody Rambin announced the sale of the 115,001 SF, two-building office property at 6250 and 6260 Westpark, near the Southwest Freeway. Newmark’s Spencer Hough and Connor Darling and Moody Rambin’s Jim Autenreith and Stephen Ghedi represented the seller, Texas-based Presidium Group. The buyer was Westpark @ 59 Office Plaza, LLC.
HOUSTON –Rice Village announced the addition of its newest tenant, CB2, a member of Crate and Barrel Holdings. Known for its curated collections and creative approach to design, CB2 will lease the 10,084 SF space at 2414 University. Burdette Huffman of The Blue Ox Group represented the landlord. Kim Bernick with Transwestern represented the tenant.
HOUSTON — Montrose Collective will be home to the first brick-and-mortar retail store of ceramicist Amano, featuring decorative concrete items for the home and office crafted entirely by local fabricator Natural by Hagelsieb. Debuting this fall, Amano, meaning “by-hand” in Spanish, is the creation of Houston artist Myrna Hagelsieb. Montrose Collective is a joint venture of Radom Capital, a Houston-based real estate development firm, and JP Morgan Asset Management.
SPRING — Abdee Sharifan has acquired a 4,340 SF office building on 1.97 acres at 1935 Old Holzwarth Road in Spring, from G Holts, LLC. Bob Conwell of NewQuest Properties represented the buyer. Trey Martin and Darren O’Conor of NAI Partners represented the seller.
HOUSTON — Jersey Mike’s Subs leased 1,253 SF of retail space in Shoppes at San Felipe, at San Felipe and North Voss roads, Houston, from SF/Voss Ltd. Kevin Sims of NewQuest Properties represented the landlord. Lasater Miller and Lane Zieben of the Retail Connection represented the tenant. Jersey Mike’s also leased space in Rock Creek Shopping Center at Spring Cypress and Grant roads, Cypress, from NewQuest Properties.
WHITE SETTLEMENT, Texas – Dalfen Industrial acquired a 100% occupied, 98,666-SF property in the city of White Settlement in the West Fort Worth area. The property is next to the Lockheed Martin Aeronautics headquarters where military aircraft are manufactured including the F-35, F-22, F-16, C-130, and U-2. Built in 2017, West Tarrant Distribution Center is located at 1403 S Cherry Lane, near the I-820 Loop.
SAN ANTONIO,Texas— Cleveland-based NRP Group has bought 15 acres where it will build the 324-unit Copernicus Apartments. NAI Partners’ Carlos Marquez and Brett Lum brokered the transaction. NAI Partners is also marketing 52.33 acres near this site.
DALLAS – Crescent Real Estate, LLC, continues to attract customers to The Crescent, announcing a new lease with global law firm Vedder Price PC, for 11,197 SF feet in Building 100. In March, GPIF TC Owner LLC, an affiliate of Crescent, purchased the property. Crescent had managed and leased the facility since 1994.
FORT WORTH –– JLL Income Property Trust , a REIT, has leased its recently acquired Fort Worth Distribution Center. The tenant, iDC Logistics, leased the newly constructed warehouse/distribution center totaling 350,000 SF. The lease includes annual rent increases of 3% and runs for five years. Los Angeles-based iDC is an end-to-end logistics company.
SAN ANTONIO, Texas — Newmark announced the sale of The Blair at Bitters and The Henry B, a 388-unit, value-add multifamily portfolio in north central San Antonio near the South Texas Medical Center and USAA headquarters. Both were 97% occupied at the time of sale. Newmark’s Matt Michelson represented the seller, Wildhorn Capital of Austin. The buyer was Kanesville Capital of Dallas.
DALLAS — Drew Crawford and William McCarthy with Finial Group arranged a lease at 1801 Royal Lane in Dallas. The tenant, Texas Security Solutions, LLC, signed a 3,711 SF lease at Westwood Business Park, a 12-building development consisting of grade-level flex, dock-high flex and high-finish flex product totaling more than 227,000 SF.
NATIONAL– RNR Real Estate Briefs
KANSAS CITY, Mo. — Colliers has introduced the first cold storage industrial speculative building to the Kansas City market. The Class A, 167,000 SF facility will be in the Heartland Meadows Industrial Park in Liberty, Mo. BCB Development anticipates delivery of the building in Q2 of 2022. The cold storage industrial building is represented by John Stafford ,along with Chris Cummins and Turner Wisehart, both with the Colliers National Food Advisory Group.
BOSSIER CITY, La. – SRS Investment Properties Group brokered the sale of River Crest Shopping Center, a 22,140-SF shopping center located in Bossier City. The seller, Sealy River Crest I, LLC, sold the property to Wen Jing Real Estate.Aaron Johnson and Brad Gibbs of the SRS Dallas/Ft. Worth office, represented the seller.
MIAMI, Fla. — Orion Haus, a multifamily management company that creates short-term rental friendly buildings, has inked one of the largest deals in the short-term rental industry since the COVID-19 pandemic when it added 10 buildings and 1,588 units to its U.S. portfolio in and around Austin, Memphis, Houston, Orlando and Atlanta.
RADFORD, Va. – Global construction and development firm, Skanska, has been selected to build Radford University’s new Center for Adaptive Innovation and Creativity. Located in Radford, Va., the $80.5 million, 177,917 SF building will replace the existing space for the College of Visual and Performing Art.
BOSTON, Mass. — Center at Hudson, an 85,000 SF shopping center anchored by a Stop & Shop Supermarket in Boston’s western suburb of Hudson, Mass., was sold to NNM Realty Trust. JLL Capital Markets represented the seller and marketed the property on behalf of the seller.
PORTLAND, Ore. – Westland Investors acquired theTall Oaks Apartments. Located on SW Caldwell Road in Gladstone, the 64-unit project sold for $10,150,000. Westland worked with Greg Frick and Tyler Johnson of HFO to purchase it from Jendi Properties.
May 22, 2021 Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
File: RNR Real Estate Briefs – HOU, DAL, AUS, SAT – and more
Photo credit: Courtesy Colliers
Published by Realty News Report, RNR Real Estate Briefs is a compilation of regional and national news.