RNR Real Estate Briefs from Realty News Report – HOUSTON – Colliers announced the sale of a 17,433-SF industrial property on 4.3 acres at 6421 N Shepherd Drive. The buyer, Holdings Enterprise, was represented by Zane Carman of Partners Real Estate. Jeff Peltier and John Parsley of Colliers represented the seller, R & J Partnership. “There has been a strong demand for industrial properties with sizable tracts of land located near key interstate highways in the inner City of Houston,” said John Parsley.
HOUSTON – Lincoln Property Company announced that Hardwoods Specialty Products expanded from 19,882 to 60,118 SF at Alamo Crossing, an industrial park in Northwest Houston. The building, 7885 Northcourt, is near Highway 290 and Hollister Road, east of Beltway 8. Alamo Crossing was represented by Lincoln Property Company’s Robert Willard. Hardwoods Specialty was represented by JLL’s David Buescher
HOUSTON – Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged a 41,937-SF lease renewal for VeriTrust Corp. at 2155 Silber Road. Partners’ Chris Kugle represented the tenant in the transaction. The landlord was represented by Carter Holmes and Matt Dewhirst of Holt Lunsford Commercial.
HOUSTON – Lee & Associates – Houston, a nationwide leader in commercial real estate services, announces more than 167,000 square feet of space available on FM 1489 in Brookshire. Robert McGee, Taylor Schmidt, and Austin Bartula, associate, are leasing the building. Growth Capital Partners the Birmingham-based private real estate investment company, and Houston-based developer Phelan-Bennett completed Westside 10 Industrial Park for GCP’s Fund II.
HOUSTON – Partners Real Estate arranged two leases totaling 164,072 SF at 2425 Broad Street. Lightning Inc. inked a renewal for 61,920-sq.-ft. of space, and Rigmore inked a new lease for 102,152 SF. Partners’ Michael Keegan and Andrew Laycock, represented the landlord, SL5 Urban Industrial, GP, LLC in both transactions. Grant Hortenstine and Drew Morris of Savills represented Lightning Inc.
HOUSTON – Riley Sharman of Northmarq’s Houston office, has completed the sale of an eight-tenant medical and retail strip center located on 7.7 acres at 827 Magnolia Boulevard in Magnolia. A 1031 exchange buyer based in North Texas acquired the 16,700-SF asset. Said Sharman: “This transaction demonstrates the increase in investor demand for multi-tenant medical strip centers we’re seeing throughout the Houston MSA and especially in high-growth areas like Magnolia.”
SHENANDOAH, Texas – Azteca Jewelry leased space at Sam Moon Center on I-45 in , Shenandoah. The landlord was represented by Katherine Wildman and Bunny McLeod of Wulfe & Co.
HOUSTON – In 2019, Ryde, a local cycling studio, leased a 2,295 SF redevelopment property located at 402 W 11th St. in the Heights. After three years of construction and planning, this flagship site is scheduled to open in April, making it the company’s second location in Houston. The landlord, 2B Investments LLC, was represented by Ryan Neyland of Davis Commercial Real Estate.
CYPRESS, Texas – Karen’s Hallmark Shop has leased 4,500 SF in the Coles Crossing Shopping Center on Barker Cypress Road. The landlord was represented by Wes Miller of Wulfe & Co.
KATY, Texas – Partners Real Estate arranged the sale five acres on Tubular Drive. Partners’ Ryan DeGennaro, Andy Parrish and Lesley Rice represented the seller, Plow Realty, LP, in the transaction. Max Robbins III of Trucore Commercial represented the buyer, 0 Tubular Road LLC. The buyer intends to develop the property for use of in its trucking/transportation business.
TEXAS
SCHERTZ, Texas – Partners Real Estate, arranged a 116,176-SF industrial lease with Quality Custom Distribution Services on Doerr Lane in Schertz, near San Antonio. Partners’ John Colglazier represented the landlord, Baltisse-Ackerman Schertz, LLP
TEXARKANA, Texas – New Hampshire-based Maverick Pipe bought a 150,000-SF speculative building in the TexAmericas Center business park. Maverick Pipe will hire 80 people.
FORT WORTH – EastGroup Properties has begun construction on the second phase of Basswood 35, anindustrial development in Fort Worth. Located at Basswood Boulevard and I-35 W, Phase II will consist of three buildings totaling over 351,000 square feet. NAI Robert Lynn will represent EastGroup in the leasing the project.
DALLAS – White Rock Coffee has opened at Rosewood Property Company’s Rosewood Court in Dallas’ Uptown District.
GEORGETOWN, Texas – Taylor Morrison, one of the country’s largest homebuilders, announced sales are underway for Parkside on the River, a 1,500 acre master-planned community on the banks of the San Gabriel River in Georgetown near FM 2243.
GEORGETOWN, Texas – Partners Real Estate arranged a 2,065-SF retail lease with Smoke City ln Georgetown, near Austin. Partners’ Kevin Murphy and Troy Martin represented the landlord, Stapel, LP in the transaction.
NATIONAL
SAN DIEGO, Calif. – A joint venture between Elevation Land Co. of San Diego and a real estate fund advised by Crow Holdings Capital will construct a 1.8-million-SF industrial project in Otay Mesa adjacent to the U.S.-Mexico border. It’s named Otay Business Park. Elevation Land and Crow Holdings acquired a 263 acres of land there in 2022 for $165 million from Otay Venture LP in a deal handled by Cushman & Wakefield, which will also lease the new industrial space.
LOS ANGELES – Onni Group’s Wilshire Courtyard office campus in Los Angeles has signed a long-term, lease totaling 225,239 SF with Sony Pictures Entertainment. Wilshire Courtyard is a two-building campus in the heart of Miracle Mile. Sony Pictures Entertainment is relocating select divisions from nearby Culver City. Cushman & Wakefield’s Josh Bernstein, Peter Collins, Scott Menkus and Alexa Delahooke represented Onni Group in the transaction. Onni’s Neal Linthicum managed the transaction on Onni’s behalf. Savills’ Josh Gorin and Mike Catalano represented Sony.
ETC.
HOUSTON — The Howard Hughes Corp. announced that The Goddard School, the nationally acclaimed early childhood education provider, has opened its first location in Bridgeland®, one of the top-selling master planned communities in Texas. The 10,800-SF new facility will enroll approximately 200 students in The Goddard School’s renowned F.L.EX (Fun Learning Experience) Learning Program, which utilizes hands-on education to help children ages six weeks to six years old explore and discover their interests in a safe, nurturing environment.
Feb. 11, 2023 Realty News Report Copyright 2023
File: RNR Real Estate Briefs
RNR Real Estate Briefs are published by Realty News Report
Photo: GreenStreet Looking Up – Downtown Houston by CALpix Realty News Report Copyright 2023
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