HOUSTON – (Realty News Report) — Healthpeak Properties, Inc. is developing a new 116,500 SF, five-story, Class A medical office center and parking garage at 7500 Fannin St., on the campus of The Woman’s Hospital of Texas in Houston. Construction should be completed by December 2021. The building at 7500 Fannin is currently 36% preleased, with the largest commitment from Houston Women’s Care Associates, a 14-provider practice expanding its current on-campus footprint. Transwestern is leasing the building.
PEARLAND – A 17,500 SF neighborhood lifestyle center at Pearland Parkway Marketplace is nearly complete. LSI is the general contractor and Danny Miller of Gulf Coast Commercial Group is overseeing leasing. The center sits on two acres at Pearland Parkway and Barry Rose Road and will serve neighboring communities such as Branbury Cross, Riverstone Ranch and the Lakes at Highland Glen. The complex adjoins future projects that include a proposed Kroger store; a Nails of America on a 3,800 SF corner lot and Lin Asian Café on a 2,100 SF end cap. Greg Stackhouse of Stack Realty represented Nails of America and Lin Asian Cafe was represented by Jenny Zhang with Alphamax Realty.
Tents & Events, LLC, has leased 4,536 SF of industrial space at Four Seasons Business Park. Jack Gaffney and John Buckley with Finial Group represented the landlord.
Chris Ochterbeck with Moody Rambin’s Industrial and Investment Services division has been retained as exclusive leasing agent for a retail property that formerly housed one of Houston’s first craft breweries. The property, 985 Wakefield Drive in Garden Oaks, two buildings on a .52-acre lot. The primary building consists of 1,217 SF of freestanding retail with a restaurant and bar buildout. The structure was originally a neighborhood gas station, then was refurbished into a café. The secondary building is a 1930s home.
Pool Porters has leased from NewQuest Properties 2,100 SF of retail space in Chambers Town Center at the intersection of Interstate 10 and TX 146. Austen Baldridge and Bob Conwell of NewQuest represented the landlord. Brittany Roca of Rob Roca Realty Group represented the tenant.
NAI Partners arranged a 5,030-SF. Industrial sale for Lynn and Janice Pack at 10801 Brooklet Dr. in Houston. Meyao, LLC was the purchaser. NAI Partners’ Chris Caudill represented the sellers.
Urban Genesis LLC. bought the 17,400-SF industrial building at 1702 Nance St. in Houston. Clark Dalton with Dosch Marshall represented the purchaser. NAI Partners’ Chris Caudill and Jake Wilkinson represented the seller, 125 West Crosstimbers Ltd.
THE WOODLANDS – The Howard Hughes Corporation named its new multifamily development in The Woodlands as “The Lane at Waterway.” Positioned within walking distance to The Woodlands Waterway, the 163-unit, 179,338-SF project will be a 7-story building on 1.7 acres at the southeast corner of Six Pines Drive and Timberloch Place.
JustMac leased 1,100 SF in Harper’s Preserve near Highway 242 in Conroe. Travis Waltmon of Edge Realty Partners represented JustMac. Lane Pleason of Read King represented the landlord.
TEXAS
GARLAND – Primos Unlimited, Inc. purchased a 33,620 SF building at 10379 Plano Road in Garland. Ryan Wolcott and Adam Jones with Stream Realty Partners represented the buyer. Marshall Cooper with Cooper Commercial worked on behalf of the seller.
DALLAS — Ameriprise Financial, a global diversified financial services company, is relocating one of its Dallas offices to The Terraces at Douglas Center, 5960 Berkshire Lane in Dallas. The company has leased 10,844 SF in the office tower and will occupy the entire penthouse floor. Mike Wyatt and Travis Boothe of Cushman & Wakefield represented Ameriprise Financial.
DALLAS — Knighthead Funding, LLC, has provided Quadrant Investment Properties with $26.9 million in short-term first mortgage debt to acquire a portfolio of 12 office/industrial/flex buildings in Dallas. Quadrant, a Dallas based, real estate investment firm, plans to convert the obsolete industrial properties to single and multi-tenant creative office buildings totaling some 152,000 SF and ranging in size from 4,000 to 21,000 SF.
DALLAS – DebtBlue, a national financial services debt settlement company, has signed a 30,291- SF lease for its new headquarters at 1125 E. Campbell in Richardson Ryan Hoopes of Cushman & Wakefield represented the tenant in the lease negotiation, and Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Stanton Road Capital, LLC, a Los Angeles-based investment management firm.
MISSION, Texas — Bellomy & Co. has announced the sale of A+ Storage in the community of Mission. The property consists of 169 units in 24,100 net rentable SF. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Harlingen, Texas-based seller and also the Lincoln, Neb.-based buyer.
Arizona Tile, LLC, renewed its 100,398 SF lease at International Commerce Park, 2701 Regent Blvd. in Irving, Texas. Blake Kendrick, Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Link Industrial Properties. Newmark Knight Frank worked on behalf of the tenant.
Younger Partners’ Ben McCutchin brokered a 103-acre sale on FM 455, east of FM 1385 in Pilot Point. McCutchin represented the buyer, Gene McCutchin. Davidson Bogel Real Estate’s Grant Brodeur represented the sellers, Ron Berlin and Eric Berlin. The farmland was purchased to hold for investment.
CKS Packaging, Inc. leased 50,560 SF at 2829 Merrell Road in Dallas from Gillis Thomas, LP. Ryan Boozer and Lena Pierce with Stream Realty Partners represented the tenant.
AUSTIN – Bellomy & Co. has announced the sale of Taylor Hutto Self Storage in Taylor. The property, 33 miles from downtown Austin, consists of 501 climate and non-climate-controlled units, covered boat and RV components in 60,605 SF. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Plainfield, Ill.-based seller. Tesla has been looking at land for its new Cybertruck factory near Taylor.
NAI Partners recently arranged the sale of 5 acres of land for Orcid Holdings, LLC at 1115 W Anderson Lane in Austin. NAI Partners’ Todd Mahler represented the seller.
ROUND ROCK – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of Parkwood Terrace, a 144-unit multifamily asset in Round Rock, near Austin. The buyer is Langdon Street Capital. IPA’s Jordan Featherston, Will Balthrope, Drew Kile, Drew Garza and Kent Myers of Marcus & Millichap represented the seller, James Pinheiro. Built in 2000, the property is 1.1 miles from I-35.
NATIONAL
HOPEWELL, N.J. — Lincoln Equities Group and H.I.G. Realty Partners announced the acquisition of the 1.2 million SF life sciences campus formerly owned by global biopharmaceutical company, Bristol Myers Squibb. Brokerage firm JLL is marketing the 433-acre Princeton West Innovation Campus (seven miles from Princeton, N.J.) to life sciences companies. The BMS campus is located in central New Jersey’s research technology region – home to emerging and established Fortune 500 life sciences companies. Current tenants include PTC Therapeutics Inc., occupying more than 200,000 SF. The Princeton West Innovation Campus features nine principal buildings supported by a central utility complex providing wastewater management, generator-backed electricity, chilled water and steam. Onsite amenities include a full-service cafeteria, 8,000 SF fitness center and a freestanding, 28,000 SF child development center.
WASHINGTON — CoStar Group, Inc. has completed its previously announced acquisition of Ten-X for $190 million cash. “We are pleased to close so quickly and look forward to getting to work on combining the strengths of Ten-X and CoStar Group to make the platform even more valuable for our brokers and the institutions they represent,” said Andy Florance, CEO of CoStar Group. Ten-X is a platform for conducting commercial real estate online auctions and negotiated bids. The mission of the Ten-X platform is to sell property faster, at the best price possible and with greater certainty of close. CoStar Group plans to integrate the Ten-X auction platform into both LoopNet and CoStar, exposing auctions to CoStar Group’s extensive online commercial real estate audience.
ATLANTA – Chicago-based Oak Residential Partners, LLC acquired the Marquis at Briarcliff, a 104-unit multifamily project near the Center for Disease Control (CDC) in the North Druid Hills submarket of Atlanta.
JLL Capital Markets represented the seller, CWS Capital Partners, LLC.
June 27, 2020 Realty News Report Copyright 2020
