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

RNR Real Estate Briefs from Realty News Report – ROSENBERG, Texas – Colliers announced the sale of Fountains of Rosenberg at 3419 Fountains Drive in Rosenberg, adjacent to Seabourne Nature Park and just south of Highway 59. The buyer was Momentum Multifamily. The seller, Mosaic Fountains LP, was represented by Chip NashBob Heard  and Jaleel Adatia  of Colliers. The property has 184 units and measures 167,608 SF.


HOUSTON – Perry Homes leased 80,000 SF in Phoenix Tower in Greenway Plaza near Buffalo Speedway and the Southwest Freeway. Transwestern’s Eric Anderson, Katy Gragg, John Heard, Larry Serota and Chase Bourdelaise worked with Perry.  Amanda Nebel and Rima Soroka of Parkway represented the landlord.


HOUSTON — Innovation Financial Services leased 3,000 SF at 2204 Timberloch Place in The Woodlands.  Nathan Buckhoff with Oxford Partners represented the tenant.


HOUSTON – NAI Partners  arranged the sale of a 13,600 SF industrial building on 1.29 acres at 5510 Brystone Drive in Houston. NAI Partners’ Travis Land represented the buyer, 5510 Brystone Drive, LLC, and is now marketing the building for lease.  Kent Willis with Colliers represented the seller.


CYPRESS, Texas — American Shaman leased 1,312 SF in the Coles Crossing Shopping Center on Barker Cypress Road in Cypress. American Shaman sells all-natural, industrial hemp through rich CBD oil. The landlord was represented by Wes Miller of Wulfe & Co. 


HOUSTON — NAI Partners arranged a 19,835 SF lease renewal for Angel Medical Supply at 5829 W. Sam Houston Parkway North. NAI Partners’ Andy Parrish  represented the tenant. The landlord was represented by Chris Beggins of  Lee & Associates – Houston.


HOUSTON — The Texas Annual Conference of the United Methodist Church Inc. has sold a 48,000 SF church building on 5.5 acres at 3511 Linkwood Drive to Taeken Ltd. Jeff Lokey and Glenn Dickerson of NewQuest Properties  represented the seller. Chris Bergmann of JLL  represented the buyer.


STAFFORD, Texas — NAI Partners arranged the sale/leaseback of a 53,000 SF industrial building and four acres of land at 10101 Stafford Centre Drive in Stafford. NAI Partners’ Chris Caudill  and Josh Lass-Sughrue  represented the seller, 10101 Properties, LLC.John Kruse of Holt Lunsford Commercial represented the buyer, RPM Investments.


PASADENA, Texas– SVN | J. Beard Real Estate – Greater Houston  recently represented an investor buyer in the purchase of 3.1 acres at 2905 Pasadena Blvd. in Pasadena. Sobi Qazi represented the buyer. The seller was represented by Mike Stone of J Holt Properties.  The buyer hopes to build a new shopping center on the property at the northeast corner of Pasadena Boulevard and Preston Avenue.


HOUSTON – NAI Partners arranged the sale of a new 82,053 SF distribution center at 12218 Cutten Road in Houston. NAI Partners’ Travis Land and A.J. Williams  represented the seller, Cutten Houston Investments, LP. Geoff Perrott and David Buescher with JLL  represented the buyer.


HOUSTON – The Howard Hughes Corporation announced the sale of 29 acres in Bridgelandto Harmony Public Schools. Located in Creekland Village at Grand Parkway and Creekland Village Drive, the campus will be the site of Bridgeland’s inaugural charter school. Corpus Christi-based Gignac Architects is designing the 58,000 SF first phase of the campus.


HOUSTON – Cushman & Wakefield arranged a 2,135-SF lease renewal for Island Grill at 970 Bunker Hill.Michael Burgower and Eric H. Lestin of Cushman & Wakefield represented the tenant in the lease negotiations. Danna Diamond represented the landlord, MetroNational.The restaurant is owned by Faysal Haddad and his wife Maria Haddad.


HOUSTON — An 8,912 SF office building in the heart of Montrose at 1915 Commonwealth St. has been renovated and fully leased. It was purchased in 2019 by SFT Investments. The project was assigned to the interior design firm AV Design Studio led by Andres Vanegas as the principal designer. Tenants include People’s Acupuncture, Faceworx Med Spa, and Bliss Creatif Studio and SFT Investments.  The landlord was represented by Lisa Rimkus of Davis Commercial.

TEXAS — RNR Real Estate Briefs from Realty News Report

SAN ANTONIO — Newmark handled the sale of Viva Max, a 240-unit, value-add multifamily property on Callahan Road in northwest San Antonio. The seller was Pradeep Mistry, and the buyer was River Rock Capital. Newmark’s Jim Young and Chase Easley represented the seller. This sale represents the Newmark team’s fourth transaction selling to River Rock Capital over the past year. The buyer’s other recent acquisitions include Broadstone Oak Hills, Hawthorne House and Alamo Park.


IRVING, Texas — Transwestern Real Estate Services has signed a 30,844 SF lease at 4200 Regent, a nearly 170,000 SF office complex in Irving. The firm’s Kim Brooks  and Chris Lipscomb  led leasing efforts alongside Property Income Advisors.


FORT WORTH, Texas — Cottonwood Group,  a private equity real estate investment firm, has acquired a 480-unit multifamily portfolio in Fort Worth along with Dallas-based Texsun Holdings. The portfolio consists of the Woodstone Apartments at 6051 Bridge St. and Bridge Hollow Apartments at 5801 Bridge St.


FLOWER MOUND, Texas – Thompson Realty Capital, LLC,  in partnership with Trez Capital,  announced plans for a new 50-acre, mixed-use development at the southeast corner of FM 2499 and Lakeside Village Parkway in the town of Flower Mound. Phase 1 of the project includes a four-story, 200-unit, garden-urban mix, multifamily community and 15,000 SF of retail with space for three restaurants, as well as a 60,000 SF office building.


AUSTIN – DWG Capital Partners, a real estate investment firm led by Los Angeles veteran Judd Dunning, bought 9606 Old Manor Road, a 10,500-SF  facility in Austin, It is leased to custom architectural and structural steel fabricator, Austin Iron. Fixed-rate acquisition financing was provided by First Bank Texas. Drew Boroughs and Andrew Gross of Matthews Real Estate Investment Services represented the seller.


FARMERS BRANCH, Texas — Overton Family Jewels Inc. has leased 1,950 SF of retail space in Midway Center, 14442 Midway Road, Farmers Branch, from Kennington Midway Center, LLC. Melanie Hughes  and Elizabeth Hooper of Bradford Commercial Real Estate Services represented the landlord. Nickolus Nelson  of Discover Real Estate  represented the tenant.

NATIONAL – RNR Real Estate Briefs from Realty News Report

LAFAYETTE, La. – Property Commerce Dividend Fund of Houston acquired Acadiana Square, a 244,768-SF, super-regional retail center in Lafayette. JLL Capital Markets represented the seller, DRA Advisors.


NEW YORK, N.Y.  – Sunrise Senior Living, a provider of personalized senior living services, together with partners Hines and Welltower, announced the name of its second luxury senior lifestyle community in New York City: The Apsley. Located on the Upper West Side at 2330 Broadway between 84th and 85th streets, the community can accommodate up to 178 residents and features 76 assisted living and 80 memory care residences.


LENEXA, Kansas — A joint venture between affiliates of Cantor Fitzgerald and BH Companies acquired a 309-unit, multifamily property known as West End at City Center in Lenexa, Kansas, a submarket of Kansas City. It is the seventh multifamily acquisition by joint ventures between Cantor Fitzgerald and BH. Mac Crowther and Whittaker Potts of Newmark  brokered the transaction.


PHOENIX, Ariz. — The Howard Hughes Corporation announced  that JDM Partners has exercised its remaining option to reacquire a stake in Douglas Ranch, the recently launched, large-scale master-planned community in Phoenix’s West Valley. The community was acquired by The Howard Hughes Corporation from JDM Partners and El Dorado Holdings last October for $541 million. On Aug. 18, JDM Partners exercised its second option to buy back into Douglas Ranch, acquiring an additional 2.8 percent interest in the Douglas Ranch joint venture for about $15 million. Douglas Ranch covers more than 30,000 acres.


WASHINGTON, DC – NewPoint Real Estate Capital has expanded its financing offerings to include seniors housing Agency loans. The designation as an approved Fannie Mae Seniors Housing Lender and Freddie Mac Optigo Seniors Housing Lender.


Aug. 27, 2022 Realty News Report Copyright 2022

Houston Skyline Photo credit: CALpix  copyright 2022

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