RNR Real Estate Briefs from Realty News Report HOUSTON — Colliers announced the leasing of aa 3.4-acre laydown yard at 605 Wayside Drive in Houston. The tenant, J.B. Hunt Transport Inc., was represented by Craig Jonesof Fischer & Company. Zack Taylor of Colliers Houston, represented the landlord, LP by Wayside Management. “The ownership group purchased this asset last year due to its proximity to Houston’s Turning Basin Bulk Terminal,” Taylor said.
HOUSTON – The headquarters office building of Men’s Warehouse clothing was acquired by 6830 Rogerdale LLC, part of a Houston-based private investment group. JLL marketed the property on behalf of the seller, Office Properties Income Trust. The building, called Oak Park Office Center II, is a two-story office building totaling 206,362 SF in the Oak Park Business Park at the intersection of Beltway 8 and Westpark Tollway. The JLL Capital Markets team representing the seller included Kevin McConn. Marty Hogan and analyst Jack Moody.
HOUSTON – Real estate investment and development firm Midway will oversee property management services for The Center for Pursuit’s new East End campus. Located at 4400 Harrisburg Blvd. at Eastwood Avenue, the campus includes three buildings totaling about 120,000 SF, including one multi-tenant structure.
HOUSTON – Stream Realty Partners and Austin-based CapRidge Partners capped off the first half of 2022 by welcoming two new energy tenants to Memorial Tower One at 1616 S. Voss Road. Houston-based U.S. Energy Corp., leased 11,000 SF. Cody Little of JLL represented U.S. Energy Corp. Extex Operating Co. signed a 10,289-SF lease. Val Festari represented the tenant. Stream Houston Managing Director Ryan Barbles and Vice President Matthew Asvestas represented CapRidge Partners.
HOUSTON – Liberty Development Partners, a joint effort of Connor Investment Real Estate and Logistics and Development Resources, announced the acquisition of CMC Railroad and Gulf Inland Logistics Park, a 1,158-acre rail-served industrial park. Adjacent to Gulf Inland Logistics Park, a recent 200-acre acquisition by the partnership, the venture will expand the park’s capacity to serve the increasing demand for rail-served industrial sites. Gulf Inland Logistics Park offers immediate access to the Grand Parkway and US Highway 90.
HOUSTON — Colliers announced the sale of DaVita medical office building, a 15,353 SF end cap property at 11321 Fallbrook Drive in Houston. The buyer, on a 1031 exchange, was represented by Edward Choi of Edward Choi Investments. The seller, EBK-DA, LLC, was represented by Todd Moore and Connor Duffy of Colliers. The DaVita-anchored building sits on 1.88 acres along Fallbrook Drive. The two-unit structure was renovated in 2019 to accommodate DaVita and other medical office needs.
KATY, Texas — Porter Lake Crossing, a retail center now under construction at Porter Lake and Stockdick School roads, is set to complete its first phase in September. The center, which will incorporate three multi-tenant buildings and a 6,000 SF pad site, will total 40,130 SF upon completion. Sarah Thobae and Kyle Knight with Weitzman are project leasing representatives for the center. The developer is Cornerstone Development Group, based in The Woodlands.
SPRING, Texas – Ryan Dierker of Newcor Commercial Real Estate represented Conceptum Logistics in expanding its U.S. office headquarters. Conceptum enlarged to 7,265 SF at 25700 Interstate 45 North in Spring. The landlord, Havenwood Land Development, was represented by Lisa Hughes with SVN / The J. Beard Co.
PORT ARTHUR, Texas — OHK Global purchased a portfolio of six fuel depot locations in Port Arthur and Beaumont from Beyond Development, Inc. d/b/a/ Fuel Depot/Eclipse Development. Atif Ilyas of McAlpine Interests represented the buyer. OHK Global intends to renovate and rebrand the properties.
MISSOURI CITY, Texas — Thompson Thrift Residential, an affiliate of Indianapolis-based Thompson Thrift and one of the nation’s leading multifamily developers, announced the sale of The Ranch at Sienna, a 312-unit multifamily community in the Houston suburb of Missouri City. Houston-based Laye Capital Investments purchased the community
HOUSTON – Doc Perrier and David Durham of Finial Group facilitated the sale of a 9,156 SF industrial building at 1440 Sens Road in La Porte. Finial Group represented the seller, Durco LTD, while Garrett Thomas with Boyd Commercial represented the buyer, MRS Equipment Group.
CEDAR PARK, Texas – NAI Partners arranged the sale of 3.63 acres of land at 1804 N. Bell Boulevard in Cedar Park, Texas. NAI Partners’ Connor Watson, Tyler Jaynes and Ryan McCullough represented the seller, Minyard Investment, LP. Neerja Kwatra of KW Commercial represented the buyer, North Bell Blvd. Estates, LLC.
DALLAS — Granite Properties, a commercial real estate investment, development and management company, has closed joint venture equity with Highwoods Properties, a publicly-traded real estate investment trust, for two large Class-AA office developments in uptown Dallas and Plano, Texas. Highwoods Properties will own 50 percent interest in 23Springs, a 26-story, 626,000 SF office development and 16,000 SF of retail in uptown Dallas. In addition, they will also own 50 percent interest in Granite Park Six, a 19-story, 422,000 SF office development in Granite Park, a 90-acre mixed-use development in Plano.
FARMERS BRANCH, Texas — 13731-45 Omega Road, LLC, has sold a 12,000 SF retail project on 0.87 acres at 13731-13745 Omega Road, Farmers Branch, to Philip M. Lang of Lang Interests, LLC. Leigh Richter and Paul Richter of Bradford Commercial Real Estate Services represented the seller.
CORPUS CHRISTI, Texas — RREAF Holdings LLC, a private real estate investment and development firm based in Dallas, in partnership with 3650 REIT and DLP Capital bought two properties in Corpus Christi. The first property, Windy Shores in Aransas Pass, is a build-to-rent asset with 155 units. Pearl Point, the second property, located in Rockport, has 216 units.
AUSTIN – NAI Partners arranged the sale of an 30,919-SF industrial building on Bluff Bend Drive in Austin.NAI Partners’ Connor Watson, Tyler Jaynes, and Ryan McCullough represented the seller, EL & PA ALVA, C.B., LLC
NEW YORK, N.Y. — The Howard Hughes Corporation announced that iconic fashion designer Alexander Wang has selected the Seaport in New York City for its new global headquarters and showroom, signing a 15-year lease for about 46,000 SF of creative office space at the Fulton Market Building in Lower Manhattan. The fashion company will take over the entire top floor
PALMDALE, Calif. – Transwestern Investment Group, on behalf of a separately managed account, announced it has acquired 4.6 acres in the Palmdale/Lancaster submarket of North Los Angeles, and is partnering with Transwestern Development Company to build a 99,840 SF industrial property on the site. Construction is scheduled to begin in March 2023 with completion anticipated in the first quarter of 2024.
ATLANTA. — KKR, a global investment firm, announced thatGlobal Atlantic Financial Group, a subsidiary of KKR, has acquired Atlantic Yards, a two-building office asset in midtown Atlanta, from global real estate firm, Hines, and its institutional joint venture partner advised by Invesco Real Estate. Atlantic Yards consists of 523,511 SF of Class A office space in two towers. The buildings were constructed in 2021 and are located within Atlantic Station. The property is 100 percent leased to Microsoft Corp.
ATLANTA – Miami-based Atlantic Pacific Cos.acquired The Manor at Buckhead in Atlanta, a 301-unit multifamily project soon to be renamed The Atlantic Buckhead. The property marks AP’s ninth acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III. With this purchase, AP expands its Georgia portfolio to 17 properties, totaling 4,000 units.
ETC. – Prop Tech
HOUSTON – Land Advisors Organization, a national land brokerage and advisory firm with offices in Houston, Dallas and Austin announced its investment and new partnership with Cecilian Partners, a Pennsylvania-based real estate property technology company. The customer-focused real estate platform, which streamlines the cumbersome operational aspects of community development, integrates community and buyer data, and simplifies the new home buying experience. Through the new partnership, Land Advisors Organization is adding a new layer of PropTech capabilities to its repertoire, extending its services beyond land analysis and sales into land development, lot management, and enhancing the homebuyer’s sales experience with builders.
“Land Advisors Organization’s roots are deeply entrenched in data analysis and digital technology focused on land and its value or potential, and we’re always looking for technological advancements that improve our industry,” said Greg Vogel, founder and CEO of Land Advisors Organization.
Smart Building Ranking – Stream Realty
AUSTIN — RiverSouth, Austin’s newest office development owned by Stream Realty Partners by has been honored with SmartScore’s highest achievement.
The 15-story, 372,000-SF high-rise at 401 S. 1st St. received a SmartScore Platinum rating for its cutting-edge user functionality and technological foundation. The building’s smart elements from KODE Labs include:
- The ability to monitor, report, and optimize energy usage for sustainability purposes.
- A cleaning protocol based on occupancy that senses when shared areas need to be cleansed.
- Easy entrance to the building and garage via a mobile device.
- Luxer Onepackage delivery service, enabling secure spaces for tenants to receive packages.
- A sensor that collects thorough data on light, noise, temperature, and air quality.
- A tenant app providing local weather, building services, and the ability to submit feedback.
- Access to diverse routes for telecommunications with three providers.
July 23, 2022 Realty News Report Copyright 2022
Photo: Courtesy The Center for Pursuit
File: RNR Real Estate Briefs
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RNR Real Estate Briefs reported July 20, 2022