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

RNR Real Estate Briefs from Realty News Report – BELLAIRE, Texas — Magma Equities, in its first joint venture with Walker & Dunlop Investment Partners, has acquired a two-property, 820-unit suburban value-add multifamily portfolio in Texas from Moody National Cos. The purchase of the 580-unit Village at Bellaire and the 240-unit Lost Spurs Ranch in Fort Worth brings the firm’s Texas assets under management to 3,440 units. Built in 1990, Village at Bellaire consists of 580 one- and two-bedroom apartments in 25 three-story residential buildings on a 14.4-acre site. The Bellaire development has been 96 percent occupied.

PEARLAND, Texas – Partners Capital has sold Phase I of Broadway Plaza Shopping Center, a 10,655 SF development at 11930 Broadway St. near Shadow Creek High School in Pearland. Partners was self-represented by Joshua Lass-Sughrue and Davis Amanyisye. The all-cash buyer was represented by Matt Berry, Robbie Kilcrease and Drew Reinking from CBRE.

HOUSTON — Gulf Coast Commercial Group announced that First Watch, Scissors & Scotch and Houston-based Thrive Drip Spa have leased space in Lower Heights District at 2799 Katy Freeway. Ron Marshall of Mac Haik Realty represented First Watch while Lower Heights was represented by Danny Miller of Gulf Coast Commercial Group, with Anderson Smith and Brett Levinson of Main Street Commercial Partners. Samantha Walter of SRS represented Scissors & Scotch.

BROOKSHIRE, Texas — Reed Vestal and John Erck of Junction Commercial Real Estate represented an undisclosed seller in the sale of a 13-acres on Donigan Road in Brookshire, just south of Interstate 10. Leigh Anne Ahr of Proximity RE represented the buyer.

HOUSTON – EDENS, a retail real estate owner, operator and developer of a portfolio of 110 places, announced that Lombardi Cucina Italiana leased 9,350 SF in Uptown Park center. Other new tenants are Polestar, GLOSSLAB and kindbody.

HOUSTON – Studs, the jewelry and ear-piercing store, has opened its doors in Rice Village— its first location in Houston, 15^thoverall and third in Texas. The retailer has 1,113 SF at 2567 Amherst St.

COLLEGE STATION, Texas — Body20 leased space in Shops at Tower Point, near TX 6, from B&B HW-6 Investments.Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Wayne Cotter of Landmark Advisors represented the tenant.

BAY CITY, Texas — Reed Vestal and John Erck of Junction Commercial Real Estate represented the landlord in brokering the lease of a 5,600 SF industrial building on 18.7 acres at 4811 FM 2668 in Bay City.

HOUSTON — John Buckley of Finial Group coordinated a sublease in the Esperson Building at 808 Travis St. The tenant is Chisholm Chisholm and Kilpatrick Law. Buckley also represented the sublessor. The Esperson is owned by Cameron Management.

HOUSTON – Apricus Realty Capital, a real estate investment firm based in Dallas/Fort Worth, acquired three industrial outdoor storage sites with five buildings totaling 70,000 SF in Houston’s Northwest Inner Loop. The property sits on 4 acres on Pasket Lane, near Dacoma Street. Foundation Building Materials occupies the premises. The infill industrial property was purchased in a joint venture with institutional partner, Alex Brown Realty.

BRENHAM, Texas – Rack Room Shoes opened a 5,001 SF location in the Brenham Commercial Center on Highway 290 E in Brenham. The landlord was represented by Lunden McGill of Baker Katz and the tenant was represented by Bunny McLeod and Katherine Wildman of Wulfe & Co.

HOUSTON – Transwestern Real Estate Services has been retained for property management services at 1500 Citywest, a 192,313 SF, Class A office building in Houston’s Westchase submarket. This comes after Transwestern was named leasing agent on Jan. 1, 2022. The leasing team inked 38,193 SF of office leases during the first half of 2022. Doug Little, Kelli Gault and Louann Pereira provided agency leasing services and represented the landlord, Borja Group, in the transactions.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Streetlights Residential has broken ground on the fourth phase of a multifamily community in Austin. Located in the Lakeline neighborhood in northwest Austin, the new development will have 276 units Streetlights has already completed the project’s first two phases, with The Michael opening in 2016 and The Elizabeth opening in 2019, while Phase III, The Asher, broke ground in 2021, and is scheduled to open at the end of 2022.

LEWISVILLE, Texas — Applied Systems has renewed 23,327 SF of office space at 350 Highland Drive in Lewisville. Jared Laake of Bradford Commercial Real Estate Services; Richmond Collinsworth and Leigh Richter represented the landlord, Lewisville Peak. Chima Ogueri and Chad Koenig of Cushman & Wakefield represented the tenant.

MARSHALL Texas — Partners Real Estate, a large, independent Texas commercial real estate firm, arranged the sale of a 19,589 SF industrial building and 9 acres at 281 Gateway Park Road in Marshall. Partners’ Joshua Lass-Sughrue represented the seller, Davis Property Partnership, LLC.Partners’ Colten Courtney, Brett Lum and Carlos Marquez represented the buyer, R&S Empire Properties, LLC.

DALLAS — Arch Street Capital Advisors, LLC, a real estate investment advisory firm, announced the sale of a 417-unit Class A multifamily asset in the Dallas/Fort Worth MSA. The property was acquired in 2017 on behalf of one of Arch’s institutional capital partners.

AUSTIN – ASAP Holdings of California bought a former 293-room Crowne Plaza hotel near downtown Austin. Marcus & Millichap’s Eddy Nevarez represented the seller, Lockwood Development Partners, which acquired the hotel building in 2021 as part of a ten-property portfolio sale. ASAP Holdings plans to convert the asset to a Delta Marriott.

NATIONAL —RNR Real Estate Briefs from Realty News Report

WASHINGTON – Transwestern Real Estate Services announced that its Mid-Atlantic Capital Markets Group arranged the sale of the six-building, 250,588 SF Westech Portfolio in Silver Spring, Maryland’s White Oak submarket. Transwestern represented DSC Partners, LLC, in the sale to ESJ Capital Partners.

LOS ANGELES, Calif. – Cushman & Wakefield handled the sale of a 337,125 SF industrial distribution project in La Mirada, Calif. Located on 14 acres, the two-building property in Los Angeles County is 100 percent leased to three tenants. The multi-tenant asset sold to Nuveen Real Estate, a large investment manager. Jeff Chiate, Jeff Cole, Rick Ellison, Mike Adey, Brad Brandenburg and Matt Leupold of Cushman & Wakefield represented the seller. The firm’s Randy Ellison also provided local market advisory.

NEW YORK, N.Y. — JLL‘s Capital Markets group has closed the $252 million sale of 175 Water St., a 31-story, 684,500 SF office tower in downtown Manhattan. JLL marketed the property exclusively on behalf of the seller, Vanbarton Group, and procured the buyer, 99c, LLC.

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RNR Real Estate Briefs are published by Realty News Report