HOUSTON – (Realty News Report) – Taylor Schmidt and Reed Vestal of Lee & Associates – Houston brokered the sale of 54.54 acres of land at 27448 Bains Lane in Brookshire, Texas. Schmidt and Vestal represented the seller, and George Gayle with George Gayle Properties represented the buyer.
Lee & Associates – Houston represented East End Equipment Sales in the sale of a 22.87-acre concrete stabilized truck yard at 11700 Beaumont in Houston. C.E. “Trey” Erwin III, and Frank Blackwood of Lee & Associates – Houston represented the seller.
HOUSTON — NAI Partners recently arranged the renewal of a 2,803 SF office lease for Tucker International, LLC,at 900 Rockmead Drive in Kingwood, Texas. NAI Partners’ Michael Sieger and Jacob Aldridge represented the landlord in the transaction.
Kimberly DeVos of Cypressbrook Company acted as intermediary between the landlord, 610 Town, LP, and the tenant, Power Generation Alignment Services d/b/a PGAS, Inc., in the leasing of 5,000 SF of industrial space at 101 Hilbig in Conroe, Texas.
Fred Astaire Dance Studios has leased 2,713 SF of retail space at 1051 Heights Blvd., Houston, from MFT Heights, LP. Chris Dray and Rachael Keener of NewQuest Properties represented the landlord. Bruce Frankel of Frankel Development Group worked on behalf of the tenant.
Taylor Schmidt and Reed Vestal of Lee & Associates – Houston brokered the lease of a 15,000-SF flex building on 3.56 acres at 5825 Kelley Street in Houston, Texas. Schmidt and Vestal represented the tenant, BrandSafway Solutions, LLC, and David Munson of Boyd Commercial represented the landlord, Audie Gray Family LP.
Denise Ksiazek of Cypressbrook Company represented FCC Environmental Services, LLC, in an expansion to 7,269 SF of leased office space at 10077 Grogan’s Mill Road in The Woodlands. Lisa Hughes of J. Beard Real Estate Company represented the landlord, Parkwood Holdings, LTD.
John Hornbuckle of Cypressbrook Company represented the landlord, EP Office Holdings, in the leasing of 2,564 SF at 4635 Southwest Freeway in Houston. Phillip Thompson of TCRE, LP, represented the tenant, Nathan Segal and Company, Inc.
NEW BRAUNFELS — San Antonio-based Koontz Corporation has sold Parkview Plaza, a 58,574 SF office building in New Braunfels, to Rochester, NY-based Royal Oak Realty Trust. The single-tenant building is fully leased to PNC Bank, which employs more than 500 workers.
AUSTIN — Rastegar Property Company has announced the acquisitions of 505 and 507 W. Live Oak Street in South Austin. The firm plans to develop mixed-use commercial and a multifamily project there.
WACO — Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Vantage at Waco, a 288-unit multifamily asset. Marcus & Millichap in Dallas represented the seller, Vantage Communities.The buyer is an out-of-state private investor in a 1031 exchange represented by Mandelbaum & Associates/RealTax, repositioning specialists based in Manhattan Beach, Calif.
SAN ANTONIO — CBRE announced that Woodlake Crossing, a 159,703 SF retail center at 6212 Woodglen Drive in San Antonio, was purchased by Dallas-based Elm Creek Real Estate. Kevin Catalani with CBRE in San Antonio represented the seller, InvenTrust Properties. Elm Creek Real Estate was already the owner of the shadow-anchor for Woodlake Crossing, previously occupied by Target. This acquisition now gives Elm Creek Real Estate full control of the shopping center. Stream Realty will market the available retail space.
BARTONVILLE —Community Med Urgent Care has leased 3,150 SF of office space in Lantana Town Center, 3400 FM 407, in Bartonville from NewQuest Properties. Josh Friedlander and Kevin Sims of NewQuest Properties represented the landlord. Bruce Waxler of Edge Realty Group worked on behalf of the tenant.
DALLAS – Bradford Commercial Real Estate Services is wrapping up a burst of leasing at Northwest Crossing, a 127,459 SF flex project at 2152-58 W. Northwest Highway in Dallas. Northwest Crossing’s largest tenant, Corvette Warehouse, has renewed a 19,639 SF sales center.
Bradford’s Jason Finch and Brian Pafford will lease the project for the Philadelphia-headquartered landlord, AREPIII AP NW Crossing LLC.
Stream Realty Partners were involved in the following five projects:
The Goodness Outreach Depot expanded by 25,000 SF at 2550 McMillian Parkway in Fort Worth. Forrest Cook with Stream Realty Partners negotiated the transaction.
TAF Pinnacle Park, LLC, purchased 5.48 acres at 4252 IH-30 in Dallas. Jason Moser and Drew Feagin with Stream Realty Partners negotiated the transaction.
Hart & Cooley, Inc., renewed its 152,274 SF lease at 200 Northpoint Drive in Coppell. Blake Kendrick, Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Clarion Partners. CBRE represented the tenant.
Apkudo, Inc., leased 30,747 SF at Coppell Trade Center, 800 W. Sandy Lake Road in Coppell. Holt Lunsford Commercial represented the landlord, LaSalle Investment Management. Jeremy Kelly and Mac Hall with Stream Realty Partners represented the tenant.
Screen Actors Guild – American Federation of Television and Radio Artists leased 8,344 SF at 5000 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Brandon Terrell with Stream Realty Partners represented the landlord, G&I VIII 5000 Quorum LP. CBRE, Inc. represented the tenant.
Greystar Real Estate Partners, LLC, announced it has acquired the property management business of Alliance Residential Company.Comprising more than 500 multifamily properties and nearly 130,000 units across 21 states, the Alliance portfolio complements Greystar’s property management platform. Greystar has an established track record of acquiring and integrating strategic portfolios and rental housing real estate companies. The combined portfolio will increase Greystar’s US footprint by about 25% and boost the firm’s current presence in western markets such as the San Francisco Bay area, Los Angeles, Phoenix, Denver and Las Vegas, in addition to the Northeast and Pacific Northwest.
Through this transaction, Greystar will grow to nearly 19,000 team members overseeing a portfolio of more than 2,400 communities and 660,000 apartment units across 42 U.S. states and 13 countries.
June 6, 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs