Texas Eye Institute has renewed its 16,000 SF office lease at 7710 Beechnut St., Houston. John Zivley of NAI Partners represented the tenant in the transaction. Ace Schlameus and Jenny Seckinger of Colliers worked on behalf of the landlord.
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Colliers International has announced two new leases at West by Northwest Business Park in Houston, bringing occupancy of the center to 100%. At 6210 Rothway St., Network Outfitters leased 11,673 SF, and was represented by Jay Kyle and Taylor Wright of Colliers International. At 9000 Jameel Road, 3,505 SF was leased to Arrow Exterminators, who represented themselves in the transaction. Walter Menuet and Judd Harrison of Colliers represented the landlord, Citadel Venture Holdings, in both transactions
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George Montes of Cypressbrook Company represented Eshamaya Investments, LLC,in the purchase of a 15,000 SF industrial building at 6603 Theall Road, Houston. Matt Rogers and Ryan Hartsell of Oxford Partners represented the seller, Gwen Gerlofs.
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Diana Gaines of the J. Beard Real Estate Company recently represented D.L Distillery, LLC,in the sale of five vacant acres at 6753 FM 2920 in Spring, Texas, to Holland’s Road, LLC.The property will be used as a portion of Geronimo Adventure Park, now under construction, and which is slated to open this summer. D.L. Lincoln Distillery makes Cotton Hollow Whiskey.
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Berkadia announces it has secured acquisition financing for the 211-unit Sunswept Townhomes in Houston at 12247 Sunset Meadows.. Senior Managing Director Mitch Sinberg of Berkadia’s Boca Raton office and Managing Director Brad Williamson of Berkadia’s Miami office secured the loan on behalf of One Real Estate Investment (OREI), a real estate investment and asset management firm based in Miami. Berkadia originated and Freddie Mac purchased the 10-year, floating-rate loan with five years interest only.
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John Hornbuckle of Cypressbrook Company represented the seller, Fontana Investments, LLC,in the sale of an 11,300 SF industrial building at 15600 West Hardy Road, Houston. Enobong Abasi of Fairdale Realty represented the buyer, Abasi Real Estate Group, LLC.
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The Marcus & Millichap commercial real estate brokerage firm has announced the sale of Fairmont Crossing, a 6,656 SF retail property in Pasadena. Justin Miller and Davis Hansen of Marcus & Millichap’s Houston office had the exclusive listing to market the property for the seller.
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Patricia Chesser of Cypressbrook Company represented the landlord, Woodmark Capital, LP, in the leasing of 3,678 SF of office space at 1776 Woodstead Court in The Woodlands. Kimberly DeVos of Cypressbrook Company represented the tenant.
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Greg Usher of Cypressbrook Company represented Jotron USA, Inc.,in the leasing of 3,848 SF of office/warehouse space located at 6300 Rothway in Houston. Boone Smith of Stream Realty Partners represented the landlord, Agellan Commercial REIT U.S.L.P.
ELSEWHERE AROUND TEXAS
CBRE announces that the I-35 Logistics Center,a 131,718 SF speculative industrial development in Laredo, Texas, has been delivered to the market. Gulf Corporation was the developer/project manager and the equity partner was Tailwind Real Estate Equities, based in Fort Worth. Laredo-based Park Avenue Construction was the contractor. Joshua Aguilar, with CBRE in San Antonio, is representing Gulf Corporation in the marketing of the center, a bulk distribution warehouse on IH-35 frontage road.
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BSR Real Estate Investment Trust has sold three noncore properties, comprising 632 apartment units as part of the Canadian REIT’s portfolio enhancement and capital recycling strategy. The following properties were sold in Longview, Texas, for gross proceeds of $52.5 million: Summer Brook Apartments,built in 1997; Summer Green I Apartmentsand the second phase, Summer Green II, both built in 1984.
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Worth & Associates, a San Antonio-based commercial real estate developer, has leased 42,227 SF in its Austin Highway Business Center to Goodwill San Antonio Business Services. Goodwill will use the space to expand call center operations and provide meaningful employment to individuals with disabilities and other life obstacles. The expansion will also improve the quality of call center services to local and national businesses.
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Transwestern Real Estate Services announces that KAL Freight Inc.,a commercial freight management logistics company, has signed a lease for 49,883 SF at 600 109th St. in Arlington, Texas. The lease brings the overall 543,353 SF of occupied industrial property to more than 90%. Transwestern’s John Brewer and Riley Maxwell provide industrial leasing services on behalf of the building owner.
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In an off-market transaction, a North Texas investor has closed on a fully leased, 33,400 SF warehouse in south Dallas County. The 24-suite project was developed in the mid-1980s on a 1.8-acre tract at 706 E. Red Bird Lane in Duncanville. RFF Family Ltd.has acquired the asset from Mazaya Investments, LLC, of Dallas. Josh Meraz of Dallas-based Bradford Commercial Real Estate Services represented the buyer.
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Mesa West Capital has provided Austin-based real estate investment firm Wildhorn Capital with $33.5 million in short-term, first mortgage debt to acquire a 284-unit multifamily community located in Austin. The five-year, floating rate loan was secured by Patten East, a low-density garden-style community in the southeast Austin submarket of East Riverside. The seller is Greensboro, N.C.-based Hawthorne Residential Partners. Wildhorn Capital, whose current portfolio consists of 1,570 multifamily units primarily in Austin and San Antonio, plans to improve building interiors, common areas and unit interiors. Financing was arranged by Newmark Knight Frank out of Austin.
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The Jenkins Organization has acquired Austin Oaks RV Resort, its third RV park procurement. The firm plans to make significant improvements to the park, including expansion of 74 new RV sites, a new pool, clubhouse, dog park and enhanced common areas. The park will be rebranded as Great Escapes Austin Oaks.
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April 13, 2020 Realty News Report Copyright 2020
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