RNR Real Estate Briefs from Realty News Report – HOU, DAL, AUS, SAT and more

RNR Real Estate Briefs from Realty News Report – HOUSTON – JLL Capital Markets arranged financing for the acquisition of Residences 2727, a 171-unit, multi-housing property at 2727 Elmside Drive in Houston’s Westchase submarket. The JLL Capital Markets team representing the borrower was led by Mark Brandenburg,  CW Sheehan and Cort Martin.


HOUSTON – Transwestern has negotiated two retail leases in the Centre at River Oaks, 3021 Kirby Drive, bringing the mixed-use development’s retail space to 87% occupancy. Original ChopShop is opening its first Houston location, occupying 2,921 SF, and Circa Lighting is relocating to occupy 6,027 SF. Crystal Allen provided agency leasing services for the building owner, The Ainbinder Company.


HOUSTON – JLL announced a new 18,069 SF lease for Enventure Global Technology, a provider of expandable technology solutions for the energy industry. The property at 1311 Broadfield Blvd. is owned and managed by an affiliate of Rycore Capital, a Houston-based real estate investment management firm.  Jack Russo of JLL represented the landlord and Rich Pancioli  of CBRE represented the tenant.


THE WOODLANDS — The Howard Hughes Corporation and Culinary Khancepts announced State Fare Kitchen & Bar, a full-service restaurant specializing in southern cuisine, will open its third location in late 2021 in Hughes Landing, a 79-acre, award-winning, mixed-use destination in The Woodlands. The dining spot will locate on Restaurant Row, overlooking 200-acre Lake Woodlands, at 1900 Hughes Landing Blvd.


HOUSTON — JLL Capital Markets has closed the sale of a two-property self-storage portfolio totaling 1,603 units in the Houston and Chicago MSAs. JLL worked for the seller, a private equity real estate fund advised by Crow Holdings Capital. National Storage Affiliates Trust acquired the assets. The portfolio comprises the 857-unit Sugar Land Self Storage in Richmond, Texas, and the 746-unit Crestwood Self Storage in Crestwood, Ill. Sugar Land Self Storage features a mix of climate-controlled and drive-up units. Constructed in 1998 and expanded in 2003, the four-story facility is on eight acres at 1728 Crabb River Road. The JLL team representing the seller was led by Brian Somoza,  Steve Mellon  and  Dan Reynolds.


WILLIS, Texas — Sakura Japanese Sushi & Steak House has leased 3,027 SF of retail space in Sam Houston Town Center, at Interstate 45 and FM 1097, Willis, from NewQuest Properties.  Kevin Sims of NewQuest Properties represented the landlord. Richard Qi  of Champion Real Estate represented the tenant.


HOUSTON — Jack Gaffney and Jack Callaghan with Finial Group secured a lease at 1102 Pinemont Drive in Houston. The tenant, KA Osteopractic Physical Therapy & Wellness, LLC, signed a long-term lease at the retail center. Finial Group represented the tenant


ROSENBERG, Texas — Rocky Mountain Kolaches has leased 1,400 SF of retail space in Brazos Town Center, at Interstate 69/US Highway 59 and FM 762, Rosenberg, from NewQuest PropertiesAusten Baldridge and Bob Conwell of NewQuest Properties represented the landlord.


HOUSTON — Dave’s Hot Chicken recently leased a 2,995 SF space in the Spring Town Center at FM 2920 and Kuykendahl Road in Spring, Texas.  Debbie Adams of Edge Realty Partners represented the tenant and Kevin Sims of NewQuest Properties  represented the landlord.


HUMBLE, — Marcus & Millichap  handled the sale of Atascocita Retail Center (shadow-anchored by Kroger), a 5,994 SF retail property inHumble, Texas. Riley Sharman  from Marcus & Millichap’s Houston office had the exclusive listing to market the property on behalf of the seller, an unnamed developer.


KATY – Homebrew Coffee Shop and Eatery leased 1,500 SF at the Highland Knolls Shopping Center located at 21040 Highland Knolls in Katy,The landlord was represented by Kristen Barker of Wulfe & Co.


HOUSTON – VB Capital Ventures, Inc., doing business as Griswold Home Care of West Houston, leased 1,970 SF in Briar Hills Plaza at 1011 Highway 6 South.  The landlord, B.H. Commercial Properties, LLC, was represented by Paula Musa and Michelle Wogan of Transwestern.  The tenant was represented by Mark Kidd, Sr. and Mark Kidd, Jr. of M Kidd Properties, Inc.

TEXAS – RNR Real Estate Briefs

AUSTIN – A 32-story mixed-use tower, called 5th and Brazos, is being developed in Austin by  Magellan Development Group, with BLG Capital Advisors, Geolo Capital and Wanxiang America Real Estate Group. The project’s initial 331 apartments will open this summer with average rent of $2,636, the Austin American Statesman said.


DALLAS – Orlando-based Elevation Financial Group, a senior and multifamily affordable housing provider, announced the acquisition by Elevation Real Property Fund VII of 170-unit Lakeland Hills Senior Living in Dallas for $8.45 million.


CORPUS CHRISTI  — Marcus & Millichap Capital Corporation, a provider of commercial real estate capital markets solutions, arranged an $18 million loan for the acquisition of a 250-unit, multifamily property in Corpus Christi. The 10-year, non-recourse loan features a 3.77% fixed interest rate.


DALLAS – BKV Group, a multidisciplinary design firm, announced the topping-out of Modera Katy Trail, a 14-story multifamily tower with 217 units at 5350 McKinney Ave. in Uptown Dallas. Developed by Mill Creek Residential the apartment community will open in 2022.


DALLAS – With three leases, Bradford Commercial Real Estate Services has filled 11,445 sf of industrial flex space in Park Forest Business Center in northeast Dallas. Jane’s African Food Depot leased 5,000 SF. House of Living Water leased 4,085 SF SignGraphx Printing & Specialties  leased 2,360 SF. The Bradford team of Noah Dodge, senior associate, and Jason Finch, vice president, represented the California-based landlord, Tyler Family Investments LLC.

NATIONAL – RNR Real Estate Briefs

 MONROE CITY, Mo. – The Jenkins Organization, a Houston-based firm led by Ricky Jenkins, has opened Mark Twain Lake Jellystone Park, a 133-acre RV resort facility in Missouri.


NASHVILLE– Rubicon Equities, a Nashville based real estate investment firm, and Meritage Group LP, a private investment firm, announced the acquisition of Capitol View Plaza, a Class A Office building in downtown Nashville’s Gulch neighborhood. David Atchison and Brian Casey of Colliers represented the seller. Stream Realty and Sandeema Co. are enlisted to market the building for lease.


BOSTON, Mass. — JLL Income Property Trustbought Princeton North Andover, a 192-unit, apartment community in North Andover, Mass., a suburb north of Boston, for a purchase price of $72.5 million.


May 15, 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: Ralph Bivins of Realty News Report Copyright 2021

Published by Realty News Report, RNR Real Estate Briefs is a compilation of regional and national news.

 

 

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