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

RNR Real Estate Briefs from Realty News Report – HUMBLE, Texas – Satya bought 4.2 acres of undeveloped land at Balmoral, a master-planned community in Humble. The property, at Woodlands Hill Drive and Balmoral Bay Drive, was purchased for future retail development. The seller, Balmoral Woodland Hill #2, LLC, was represented by Jerry Turboff of Prime Capital Corp.

BELLAIRE, Texas – James Kadlick of Rockspring Properties represented the buyer, Crossfit Central Houston, in the purchase of a 16,000 SF industrial building at 1308 N. 1^st Street in Bellaire. The seller was represented by Ben Sample of CRESA.

HOUSTON — Montrose Automotive Center, LLC, purchased two lots at 3709 Montrose Blvd. and 918 W. Alabama St., Houston, to build a new site for its automotive service business. The firm was represented by Richard Ember of Leverett McNeil Associates. The seller, Ellag, LLC, which has used the properties for sober living facilities for the past 15 years, was represented by Cotton Munson of Davis Commercial.

HOUSTON – Houston-based Midway announced that Broham Fine Soul Food & Groceries, Lick Honest Ice Creams and URBN Dental will open in the first phase of its East River development. Additional tenants confirmed for Phase I include Method Architecture and TEAL, as well as a new event venue and rooftop bar from the owners of The Astorian. Construction is now underway on Phase I, which is slated for completion in 2023.

PASADENA, Texas — Farah Investments, LLC has acquired the 80,748 SF Kroger Junction on 6.56 acres at 2619 Red Bluff Road, Pasadena, from 2619 Realty Holding, LLC. David Luther, Dakota Workman and Austen Baldridge of NewQuest Properties represented the seller. NewQuest’s investment sales team also represented the buyer.

HOUSTON — The Multifamily Group, a Dallas-based commercial real estate brokerage firm, facilitated the sale of the 126-unit Ludington Apartments. Zach Weik represented the seller and procured the buyer. Ludington was built in 1980 and sits off Fondren Road and Ludington Drive.

HOUSTON — Hauling’ Iron Towing & Recovery has leased 56,628 SF of industrial space at 13129-C Kuykendahl Road, Houston, from SIOP Enterprises, LP. Kevin Sims ofNewQuest Properties represented the landlord.

HOUSTON – Recovery has leased 1,400 SF of retail space in The Village, at Rice Boulevard and Kirby Drive, Houston, from RPI Management, LLC. Josh Friedlander andBob Conwell of NewQuest Properties represented the landlord. Justin Titcombe of SRS Real Estate Partners represented the tenant.

HOUSTON — James Kadlick and Harrison Kane of Rockspring Properties represented the owner, 3724 Creekmont, with the sale of 23,000 SF of newly constructed industrial space. The buyer, Eustler Technical Products, was represented by Russell Simmons of Texas Area Properties.

HOUSTON — Harrison Kane of Rockspring Properties represented the seller of 2.77 acres at 3409 Brinkman St. in the Garden Oaks area just off W. 34^th. Along with the land came a 38,000 SF flex building with an ambulance services tenant. The buyer was Braun Enterprises, which plans to redevelop the site in the future.

TEXAS — RNR Real Estate Briefs from Realty News Report

SAN ANTONIO — San Antonio-based Koontz Corporation announced it has sold Palmetto Pointe Apartment Homes, a 300,000-plus SF, 328-unit multifamily community in San Antonio, to Florida-based American Landmark. Developed by Koontz, Palmetto Pointe was completed in November 2020. It sits on a 15.2-acre tract at USAA Boulevard and Fredericksburg Road. Marcus & Millichap brokered the sale on behalf of the seller.

GEORGETOWN, Texas – Titan Development announced that Texas Speed and Performance, a top manufacturer and supplier of performance auto parts, has leased 172,428 SF in Building I of the newly completed Phase I of NorthPark35 Industrial Park in Georgetown near Austin. Once finished, the industrial park will offer more than 1.7 million SF of space. Omar Nasser of Aquila Commercial represented the landlord.

GRAND PRAIRIE, Texas — Midtown GP, a 56-acre, mixed-use development, is now being built in Grand Prairie. The site will include retail pads and strips, restaurants, office and hotel spaces, 142 townhomes and a 366-unit Class A multifamily property with amenities such as clubhouses, resort-style pools, gyms and outdoor courtyards. The developer is Kalterra Capital Partners.

AUSTIN – Newmark announced the sale and financing of Enclave at Water’s Edge, a 184-unit multifamily property near The Domain and within Austin’s tech corridor – “Silicon Hills.” Located at 12330 Metric Boulevard, the community was 94 percent occupied at time of sale. Newmark’s Patton Jones and Andrew Dickson represented the undisclosed seller. Newmark’s Matt Greer and Andrew Wilson facilitated financing on behalf of the buyer, Wildhorn Capital.

NATIONAL — RNR Real Estate Briefs from Realty News Report

OCALA, Fla. –Transwestern Development Company and its joint venture partner, QuadReal Property Group, will develop a 943,426 SF warehouse on 64-acre parcel 15 miles south of downtown Ocala. Trailhead Logistics Park is within driving distance of Tampa, Orlando and Jacksonville. The property is expected to be delivered in the fourth quarter of 2022.

PHOENIX, Ariz. — Edge Realty Partners, a commercial real estate firm providing brokerage, development and investment sales services, announced it opened a new office in Phoenix, further establishing the company’s footprint across the Southwest. The Phoenix office will be led by Nick Ault and Daniel Ortega.

ATLANTA, Ga. — B+E, the first brokerage and technology platform for net lease real estate, announced the sale of the new Caliber Car Wash property at 1047 Windy Hill Road Southeast in Smyrna, Ga., for $4,321,410.

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

File: RNR Real Estate Briefs

RNR Real Estate Briefs are published by Realty News Report

Caption: Downtown Houston