RNR Real Estate Briefs – HOU, AUS, DAL & more

RNR Real Estate Briefs from Realty News Report MISSOURI CITY, Texas — Transwestern Investment Group (TIG), on behalf of a separately managed account, announced the sale of Southwest Commerce Center, a 477,355 SF industrial facility on 29 acres at 611 S. Cravens Road in Missouri City. With tenants including Awesung, ADBA Group and Asia Logistics, the facility is 100 percent leased. Transwestern Development Co. built the facility in 2019. JLL’s Trent Agnew, Charlie Strauss and Lance Young represented TIG.

HOUSTON — NAI Partners arranged a 5,072 SF office lease for Green Financial Group at 1400 Post Oak Blvd. in Houston. NAI Partners’ Jason Whittington represented the tenant. CBRE’s Bubba Harkins and Jenny Mueller Sealy represented ownership of Four Oaks Place, a joint venture of Nuveen Real Estate and Allianz.

HOUSTON – Dezch LLC acquired an acre of land on Woodway Drive, on the southern bank of Buffalo Bayou, within the Riverway Reserve on the Bayou. The seller, N. Husain, was represented by Shaw Commercial Properties. The buyer intends to develop a boutique office building for its own use, says Gregory Shaw.

KATY, Texas – Cordovan Art School leased 3,080 SF in the Greentrails Shopping Center, located at 1627 S. Fry Road in Katy. The landlord was represented by Bea Naranjo of Moseley Commercial and the tenant was represented by Katherine Wildman and Bunny McLeod of Wulfe & Co.

HOUSTON – Dallas-based Westmount Realty Capital has sold its 376-unit Westmount at Summer Cove, a Class B, garden-style community at 725 FM 1959 in southeast Houston near Ellington Field. The community, built in 1983, covers 274,112 SF.

LA PORTE, Texas – The 23,000 SF Kroger Fairmont Parkway Shopping Center at 1402 West Fairmont Parkway in La Porte has been sold, according to Marcus & Millichap, which represented the seller.

HOUSTON – TruAmerica Multifamily has acquired Villas at West Road, a 240-unit community in northwest Houston. The property at 9500 West Road was obtained from an affiliate of Atlantic Pacific Communities of Miami.

HOUSTON — John Hornbuckle of Cypressbrook Company represented the tenant, Nanospectra Biosciences, in the leasing of 9,075 SF of flex space in the Plaza del Oro Research Park at 8285 El Rio St., Houston. Lane Travis, with CBRE, represented the landlord, El Rio, LLC.

KATY, Texas – Texas-based homebuilder Perry Homes has added residences on 70-foot-wide lots to its product lines in the Katy master-planned community of Elyson by Brookfield Properties. Prices start from the low $700,000s.

HOUSTON – Houston-based Nitya Capital has sold a portfolio of five Houston multifamily communities consisting of more than 1,500 units, including:

Buena Vista Apartments: 266 units at 2402 Bammelwood Drive;

Casa del Mar Apartments: 254 units at 2431 FM 1960 Road;

Sedona Pointe Apartments: 352 units at 311 Highland Cross Drive;

The Diamond Hill Apartments: 304 units at 9407 Westheimer, and

The Providence at Memorial: 326 units at 1370 Afton St.

HOUSTON – The Tank Depot, a subsidiary of Grupo Rotoplas, ground leased 3.91 acres of stabilized land at 9740 E. Sam Houston Parkway North. Tank Depot provides plastic storage and holding tanks, water tanks, septic tanks and related items for industrial use. Brokers Sky Pulford of Re/MAX Signature represented the landlord, AAN Family, LP, and Melissa Gerber Brams of Gerber Realty represented the tenant.

HOUSTON – The 659-unit Urban Palms, 8701 Town Park Drive in the Chinatown area, has been sold. Justin Chambers and Scott Lamontagne of Northmarq’s Austin-based investment sales team arranged the sale.

HOUSTON — Nu Dentistry is expanding its local footprint with a third Houston area location in Garden Oaks. The cosmetic and family dentist, which currently operates in Tanglewood and Spring, has executed a 2,700 SF lease in Block 14 at Garden Oaks, a recently completed lifestyle center at 3201 North Shepherd Drive, developed by Houston-based Gulf Coast Commercial Group, Inc. Nu Dentistry was represented by Alan Clark of Phelps Commercial Realty. Anderson Smith and Brett Levinson of Main Street Commercial Partners represented Gulf Coast Commercial Group.

La MARQUE, Texas — George Montes of Cypressbrook Company represented the buyer, Bravo Charlie Properties, LLC, in the purchase of a 13,500 SF industrial building on 2.96 acres of land in La Marque. Jim Autenreith and Sam Rayburn of Moody Rambin represented the seller, La Marque Delaney, LLC.

HOUSTON — Kimberly DeVos of Cypressbrook Company represented Noe’s Crepes & Thai Kitchen in leasing of 2,000 SF of retail space in Woodson’s Reserve at 9317 Woodson’s Reserve Parkway in Spring. The landlord, DM Partners II, LP, was represented by Kyle Knight with Weitzman Group.

HOUSTON – The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, handled the sale of Pebble Creek Apartments, a garden-style 136-unit asset in Houston, near Highway 290. Chris Siemasko represented the seller, and Nasir Pooran procured the private California-based buyer.

TEXAS —RNR Real Estate Briefs from Realty News Report

AUSTIN, Texas – NAI Partners arranged a 5,004 SF office lease renewal for Ketterman, Rowland & Westlund at Austin Centre, 701 Brazos St. NAI Partners’ Joe Bright represented the tenant. Chad Smith and Brad Philp with Stream Realty Partners represented the landlord.

SAN ANTONIO, Texas — Koontz Corporation has broken ground on its Westport Industrial Park Project— a spec development at 438 S. Callahan Road in San Antonio. The 374,400 SF project is scheduled for completion by February 2023. John Colglazier Jr., Carlos Marquez and Colten Courtney of NAI Partners are the exclusive leasing agents.

DALLAS – Cushman & Wakefield arranged an 18,730 SF lease for DECA Dental Group at Park Central 7 in North Dallas. Ryan Hoopes of Cushman & Wakefield represented the tenant. Blake Shipley and Ahnie Sheehy of JLL represented the landlord.

COPPELL, Texas – Ascent Solutions, a cybersecurity consulting firm, leased 33,000 SF in Cypress Waters at 2999 Olympus Blvd. in Coppell. With plans to move to the new space in early 2023, Cypress Waters will serve as the company’s cybersecurity epicenter. Cribb Altman of JLL and Shannon Reilly of Reilly Commercial represented Ascent. Billingsley Company is Cypress Waters’ developer.

NATIONAL —RNR Real Estate Briefs from Realty News Report

TAMPA, Fla. — Hines announced the start of construction for Phase 1 of Tampa Commerce Center, an industrial park comprised of four buildings in this major Florida West Coast city. It will be Hines’ first industrial project in the area. Completion of this phase is expected in the fourth quarter of 2022. The project was designed by Randal Paulson Architects and is being constructed by Miller Construction Company. Hines has selected JLL to serve as leasing agent.

SALT LAKE CITY, Utah — Patrinely Group of Houston and USAA Real Estate announced the completion and delivery of 650 Main, a 10-story, 332,000 SF, Class A office and retail development at the corner of Main Street and 600 South in downtown Salt Lake City. CBRE is the office leasing agent. The first tenant, EnerBank division of Regions Bank, will occupy the top three floors.

FLAGSTAFF, Ariz. — JLL Income Property Trust bought Flagstaff Medical Center, a newly constructed medical office building in Flagstaff. The single-story, 26,400 SF property was acquired for $17.2 million.

LAS VEGAS, Nev. — Avison Young announced that the Sauter Multifamily Group, comprised of principals Patrick Sauter, Art Carll-Tangora and Steve Nosrat, based in the firm’s Las Vegas office, closed the $126 million sale ($126,506 per unit) of the 996-unit Harbor Island Apartments at 370 E. Harmon Ave. adjacent to the Virgin Hotel & Casino.

GRESHAM, Ore. – Clear Capital of Irvine, Calif., acquired Trailmark Apartments, a 100-unit multifamily community in Gresham. Broker Tyler Johnson of Portland-based HFO Investment Real Estate represented Clear Capital.

ORLANDO, Fla. — San Antonio-based Embrey has closed on the purchase of a four-acre site in Orlando for a multifamily development. The new 345-unit property, Citron at The Packing District, is located at Princeton Avenue and Orange Blossom Trail. The Packing District is a 202-acre transformational project near downtown Orlando being developed by Dr. Phillips Charities.