RNR Real Estate Briefs from Realty News Report -CONROE, Texas – JLL Capital Markets has arranged acquisition financing for Harper’s Trace Center, a fully leased, 12,928 SF retail strip center on Highway 242 in Conroe. The firm worked on behalf of the borrower, Austin-based Door Capital Partners, to place the loan with Woodforest National Bank. The JLL Capital Markets Debt and Advisory team representing the borrower was led by CW Sheehan, Michael Johnson, Hunt Wood and Matt Ctvrtlik.
HOUSTON — NAI Partners arranged the sale of .23 acres of land at 2004 Sul Ross St. in Houston. The site was the former parking lot for the West Alabama Ice House and will be redeveloped for another use. NAI Partners’ Ryan DeGennaro represented the seller, Memas Enterprises.
HOUSTON — Whitebox Real Estate, LLC, recently relocated and expanded its Houston office to 510 Bering Drive. The move comes as the Whitebox team doubles its presence in the Houston metroplex. Andrew Brod of Whitebox Real Estate represented his team of tenant-rep brokers in the negotiations, and Matt Pruitt of JLL represented the landlord.
HOUSTON – Serac Tommy’s Carwash Upper Holdings, LLC, has acquired 1.25 acres at 16602 El Camino Real, Houston, from Bruce Shelby. Kevin Sims and Nick Ramsey of NewQuest Properties represented the seller. Wade Greene of Colliers represented the buyer.
HOUSTON – Cinnaholic Gourmet Cinnamon Rolls leased 1,320 SF of space at Wood Ridge Plaza Shopping Center, 27800 I-45 North across from the Woodlands Mall in Oak Ridge North. The tenant was represented by Adriana Shaw of Littwitz Investments and the landlord was represented by Bunny McLeod and Katherine Wildman of Wulfe & Co.
HOUSTON — NAI Partners arranged a 25,000 SF industrial lease for ACI Motor Freight at 2928 Greens Road in Houston. NAI’s Chris Caudill represented the tenant while Kyle Whieldon of Prologis represented the landlord, Prologis.
PEARLAND, Texas — H Lash-PMU Studio leased space in the Pearland Market Shopping Center at 2708 Pearland Parkway. The tenant was represented by Julie Anh of EXP Realty, and the landlord was represented by Kristen Barker of Wulfe & Co.
HOUSTON – Outsource, LLC, completed negotiations for its lease renewal at Washington Place North, 7155 Old Katy Road. Conrad Chambers, Ben Crancer, Brendan Zrowka and Lauren Pesqueda of Whitebox Real Estate, LLC, represented the tenant and Daniel Hollek of Braun Enterprises represented the landlord.
MAGNOLIA, Texas — Aqua Texas Inc. acquired 1.53 acres at 32602 FM 2978, Magnolia, from CamCon Properties, LLC. Jeff Lokey of NewQuest Properties represented the seller. David Boatner of Connect Realty represented the buyer.
BROOKSHIRE, Texas — NAI Partners arranged a 10,000 SF industrial lease for KSSM Industries, LLC, at 34153 Sunset Lane in Brookshire. KSSM Industries is a precision machining company specializing in solenoids and firearms. NAI Partners’ Chris Caudill and Alisha Renshaw represented the tenant while Preston Yaggi and Patrick Wolford of Lee & Associates – Houston represented the landlord, Clover RE, LLC.
CONROE, Texas — Bubba T’s Cajun Kitchen has leased 2,500 SF of retail space in Pin Oak Shopping Center, 4130 FM 1488, Conroe, from Horkus Properties. John Nguyen of NewQuest Properties represented the landlord. Abdul Sabha of Hunington Properties represented the tenant.
PLANO, Texas — Newmark announced the sale of HQ53, a recently built, 248,661 SF office property in Dallas/Fort Worth’s Legacy submarket. Newmark’s Chris Murphy, Gary Carr, Robert Hill and Chase Tagen represented the seller, Cawley Partners, in the sale to buyer Drawbridge Realty. Located at 5301 Headquarters Drive in Plano, HQ53 is fully leased to Aimbridge Hospitality, a global leader in third-party hotel management.
SAN ANTONIO — NAI Partners arranged a 20,550 SF industrial lease for DuraServ Corporation at 8555 Loop 410 NE in San Antonio. DuraServ is a major service provider in the loading dock, door and equipment industry. NAI Partners’ Chris Caudill and Kyle Kennan represented the tenant. Walter Simpson of Stream Realty represented the landlord, Trecap Management.
SAN ANTONIO – Newmark announced the sale of ReNew at TPC, a 408-unit, value-add multifamily community in northeast San Antonio. The property traded from FPA Multifamily—a San Francisco-headquartered, privately held multifamily investment firm—to DB Capital Management, a private multifamily investment firm based in Playa Vista, Calif. Newmark’s Patton Jones, Matt Michelson and Andrew Dickson represented the seller
SAN ANTONIO — Worth & Associates, a commercial real estate developer based in San Antonio, has signed a new lease with Total Quality Logistics to expand its existing operations by 17,590 SF in Exchange Tech Center, bringing TQL’s total leased space in the center to 42,269 SF. The company will use the space for a logistics center. With this new lease, only 7,974 SF remains available for lease on the first floor of Exchange Tech Center.Bryan Sethney of Cushman & Wakefield represented TQL. Shawn Gulley and Rob Gish represented Exchange Tech Center on behalf of Worth & Associates.
DALLAS — Pearlmark closed on an $11.1 million subordinated debt investment for the development of Resia Dallas National, a 336-unit multifamily property in Dallas. The asset includes 17 affordable units and is in the North Oak Cliff/West Dallas submarket, across the street from Dallas National Golf Club. The investment was made on behalf of Pearlmark Mezzanine Realty Partners V, LP. The senior loan was provided by Fifth Third Bank. The borrower and sponsor was Resia, formerly known as AHS Residential.
PLANO, Texas — NewPoint Real Estate Capital, LLC, announced the closing of a $14,015,000 bridge loan to facilitate the acquisition and proposed renovation of Chesapeake Apartments, a 127-unit, garden-style multifamily community in Dallas. The bridge loan was originated by NewPoint Managing Director Vincent Langan, who collaborated with John Brickson of McKinney Realty Capital on behalf of the borrowers, GBB Multifamily, LLC, Admirable Group, LLC, and Prime Investment Holdings, LLC.
GIDDINGS, Texas — NAI Partners arranged the sale of 1.3 acres with a Dollar Tree store in Giddings. NAI Partners’ Alex Makris, Jeff Pittman, Tyler Clements and Eric Lindsey represented the buyer, John Winslow.
GREENVILLE, S.C. — Haven Realty Capital, in a joint venture with capital partner, CenterSquare Investment Management, has closed on the first phase of a $41.8 million acquisition of a 151-home, build-to-rent community now under construction in the Greenville suburb of Fountain Inn, S.C.
SAN DIEGO, Calif. — Hines, the global real estate firm, has acquired a 232,000 SF industrial portfolio consisting of two Class A industrial buildings in San Diego on behalf of Hines U.S. Property Partners Fund, the firm’s flagship commingled U.S. core plus fund. Seller of the portfolio is Murphy Development Company. This acquisition offers a strategic opportunity to acquire an at-scale Class A industrial portfolio in San Diego’s largest industrial submarket.
NASHVILLE, Tenn. — The Worsham Group has sold a three-property office portfolio totaling 217,820 SF in Nashville to Hessel Properties for $30 million, or $138 per square foot. Transwestern Real Estate Services’Kevin Markwordt and John Bell represented the seller in the 1031 exchange transaction, including:
- Airways Plaza I and II, a 147,598 SF, two-building office complex at 1281 and 1283 Murfreesboro Pike in Nashville. Airways I was 100 percent occupied and Airways II was 100 percent vacant at the time of sale.
- 112 Long Hollow Pike, a 25 percent occupied, 43,622 SF property in Goodlettsville, Tenn.
- 750 Envious Lane, a 50 percent occupied, 26,600 SF asset in Nashville.
June 18, 2022 Realty News Report Copyright 2022
File: RNR Real Estate Briefs
Image: View from the soon-to-be completed bar at Riverhouse Houston restaurant (architecture by Phil Schawe) at East River 9 golf course at Midway’s East River development. Photo by Ralph Bivins, Realty News Report.
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RNR Real Estate Briefs reported June 11, 2022