RNR Real Estate Briefs – HOU, AUS, DAL, SAT – and more

RNR Real Estate Briefs from Realty News Report– HOUSTON — NAI Partners arranged a 27,614 SF new office lease for AES Drilling Fluids at 575 N. Dairy Ashford in Houston. The firm’s new space will house its corporate headquarters, along with a state-of-the-art laboratory. NAI Partners’ Griff Bandy and Joe Bright represented AES Drilling Fluids while the landlord was represented by CBRE.

TOMBALL, Texas –– Nick Spearman of Belvoir Real Estate represented the seller of an industrial property at 11633 Spring Cypress Road in Tomball, Texas. The single-tenant industrial property has 62,038 SF of manufacturing space on five acres of land, two truck wells and five cranes.

HOUSTON– Lightstone Capital’s  real estate debt platform has provided a $20.1 million mortgage to Performance Properties for the acquisition of Normandy Woods, a 268-unit, apartment complex in Houston. Dallas-based Performance Properties is led by principals Todd White  and David McQuaid.

HOUSTON — NAI Partners recently arranged the sale of 9260 Bryant St., a 35,634 SF industrial property in Houston. NAI’s Darren O’Conor represented the buyer, TEHO International (USA), LLC. Ryan Fuselier and David Buescherwith JLL  represented the seller, Bryant Street Building, Ltd.

HOUSTON — Spruce Power leased 33,749 SF in Two Memorial City Plaza in Houston. Located at 820 Gessner Road, the 18-story, 927,000 SF Class A office building is owned by MetroNational. Newmark’s Joshua Brown, John Luck, Reggie Beavan and Audrey Selber represented Spruce Power.

KATY, Texas — Vineyards, a 369-unit, garden-style community in Katy was sold by Preferred Apartment Communities to Knightvest Capital. Walker & Dunlop’s Houston Multifamily Investment Sales Team  represented the seller.

BEAUMONT, Texas – Cadence McShane Construction Company announced that the City of Beaumont Housing Authority, in partnership with Brinshore Development, selected that firm to complete the new 6.8-acre Century Heights, 10 minutes west of downtown Beaumont. The new affordable active senior multifamily community will be made up of 200 units for residents aged 55 and older.

HOUSTON – In early September, Belvoir Real Estate Group, LLC completed the sale of a North Houston industrial warehouse at 5400 Broom St., on 0.7 acres of laydown yard. The 10,900 SF warehouse features four 18-wheeler drive-in doors and one 20-ton crane. Belvoir’s Kyle Fischer brokered the deal on behalf of the seller, Pearson Road, LLC, to an undisclosed buyer.

HOUSTON – In an off-market transaction, a local private investor has acquired Briar Forest Plaza, a fully leased, Class A retail project in the heart of the Energy Corridor in West Houston. The 11,981 SF center at 13346 Briar Forest Drive is shadow-anchored by LA Fitness.

SUGAR LAND — PG Golf leased space at Sugar Land Crossroads, 12520 W. Airport Blvd. JLL’s Jarret Venghaus  and Jordan Raney represented PG Golf,

TEXAS — RNR Real Estate Briefs

AUSTIN, Texas– CBRE National Partners  announced the sale of Harris Ridge Business Center, a Class A+, industrial park at 1100 East Howard Lane in Austin. TA Realty purchased the 387,838 SF, five-building asset from HPI Real Estate Services for an undisclosed price.Randy BairdJonathan BryanRyan Thornton  and Eliza Bachhuber  with CBRE National Partnersarranged the transaction on behalf of the seller.

SAN ANTONIO, Texas — Colliers announced the sale of the Palestra Building, a 15,300 SF office building at 1779 NE Loop 410 in San Antonio. The buyer was represented by Clint Hennessey of DH Realty Partners IncJenny Seckinger  and Ace Schlameus  of Colliers represented the seller.

PLANO, Texas — Atlas Capital Advisors,  an independent real estate investment and advisory firm, represented Orange County, California-based First Foundation Bank in a new lease for 3,800 SF at Preston Shepard Place, 1709 Preston Road, Plano. This will be the bank’s first retail branch location in Texas. Serge Vishmid  of Atlas Capital Advisors, represented the bank.

AUSTIN, TexasNAI Partners has arranged a 20,647-sq.-ft. build-to-suit industrial food manufacturing space lease in Taylor, TX, for Afia, a Mediterranean food company headquartered in Austin.. Afia is expected to move into the expanded facility in early 2022. NAI Partners’ Troy Martin represented Afia in the transaction. Darren Quick with Don Quick & Associates represented the landlord.

CARROLLTON, Texas — Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, represented both parties in the sale of Grapevine SkateTown at 2330 William D. Tate to a real estate investment group based in Carrollton, Texas. The sale includes a 32,989-square-foot building on 3.21 acres.

MANSFIELD, Texas – Trinity Forge Inc. has sold a 14-acre tract near downtown Mansfield to a local industrial developer, which will deve lop 104,440 sf of warehouse space. Josh Meraz, of Bradford CommercialReal Estate Services, and Michael W. Spain, represented Trinity Forge in the disposition. Mansfield Commerce Park will be surrounded by industrial development and positioned slightly south of the city’s business district. Brant Landry of Landry Commercial Inc. represented the buyer, Industrial Reserve LLC,

NATIONAL — RNR Real Estate Briefs

PHOENIX, Ariz.– Stream Realty Partners, a national real estate services, development and investment company, has opened Stream Realty-Phoenix, LP, which will be led by 19-year veteran Tiffany Winne,  one of Phoenix’s leading commercial real estate tenant rep brokers, as executive managing director and partner. Winne will oversee growth of the office and region while continuing to specialize in working with office tenants in their real estate needs locally and across multiple markets.

WEST PALM BEACH, Fla. — Dalfen Industrial bought the Turnpike Logistics Center in West Palm Beach. The newly constructed, two-building industrial park totals 317,499 SF and boasts the latest characteristics desired by e-commerce tenants.

OKLAHOMA CITY, Okla. — Blue Road Investments has begun construction on a three-building, 403,000 SF industrial park at the corner of Pole Road and SE 89th St. in Oklahoma City.

PHOENIX, Ariz. — San Antonio-based Embrey will begin construction later this month on the 332-unit Seven Oaks, its newest multifamily community, in Phoenix. The project is financed by the Houston office of BB&T, now Truest.

ETC. — RNR Real Estate Briefs

HOUSTON – Lee & Associates Houston has announced several transactions:

  • The lease of a 3,900 SF space to MoveNation Dance Academy at 821 Frostwood Drive, Suite C, in Houston.
  • Sale of a 10,800 SF industrial building on 10 acres at 5210 Oates Road in Houston.
  • Sale of a 40,500 SF manufacturing building on 2.86 acres at 21225 FM 529 in Cypress.
  • Sale of 8.608 acres at the corner of Bellaire and Mason Road in Richmond.
  • Fort Bend LC, LLC purchased 7.5073 acres at 16505 US Highway 90A in Missouri City, Texas, for a 113,346 SF distribution center

Colliers to Lease Katy Project

KATY, Texas – Colliers has been tapped to handle retail leasing at the new Katy Boardwalk District. Colliers retail services team of Wade Greene, Kimberly Lenardson  and Hannah Tosch  is currently in discussions with several notable restaurant, bar and entertainment concepts for the lakefront destination.

“We’ve heard from a number of concepts both here in Houston and across the country,” said Greene, who also manages Colliers hospitality advisory teams. “We’re certainly evaluating all of these opportunities to determine the best ones for the project.”

An announcement of Katy Boardwalk District’s first tenants should come in early 2022.

Method Architecture has also joined the development team to re-imagine the mixed-use and retail site plan to better maximize the appeal of its 90-acre, nature-inspired lake displaying the region’s native trees, flora and wildlife.

“The impact of COVID-19 gave us extra time to re-evaluate the site plan to ensure we’re incorporating the lakefront experience into the entire project,” said Keith Dalton of KBH Venture, co-developer of the Katy Boardwalk District.

Dalton said greater emphasis will be placed on improved sight lines and accessibility to the lake for hotel guests and those visiting the destination to dine or simply enjoy an outdoor activity on the public green space. A refined site plan is expected this fall.

“As a public/private partnership, we’re delighted to work with a team of professionals with the experience and vision needed to bring the boardwalk to life,” said Skip Conner, president of the Katy Development Authority.

Katy Boardwalk District will also be home to a 304-room hotel and conference center. Its multifamily component, Boardwalk Lofts, will open this fall.

The 169-acre setting at Kingsland Boulevard and Prairie Parkway, just south of I-10, is a public/private partnership among the City of Katy, the Katy Development Authority and developers KBH Venture and Sueba USA, all key stakeholders in Katy Boardwalk District.

Sept. 25, 2021 Realty News Report Copyright 2021

For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up  by Ralph Bivins. Available on Amazon  http://tiny.cc/4a2g6y  

Houston 2020 Ebook version  https://tinyurl.com/4xm7z8b5      

RNR Real Estate Briefs are published by Realty News Report

Photo credit Ralph Bivins for Realty News Report Copyright 2021

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