RNR Real Estate Briefs from Realty News Report HOUSTON – Realterm has acquired a 200,400 SF, final-mile Amazon warehouse at 3031 S. Sam Houston Parkway near Highway 288. Built in 2020, it sits on a 36.6-acre site. “Houston has one of the strongest industrial markets in the nation with increasing demand from e-commerce and consumer goods providers,” said Stephen Panos, senior vice president and fund manager for Realterm.
HOUSTON — Colliers announced the sublease of 27,502 SF at Turning Basin Industrial Park, 2005 Turning Basin Drive in Houston. The sublessee, Reach Cooling, was represented by Mark Nicholas of Jones Lang LaSalle. Zack Taylor and Trey Horne of Colliers represented the sublessor, John Manville Company. Turning Basin Industrial Park is on Interstate 610, just south of Interstate 10.
HOUSTON – Reed Vestal and John Erck of Junction Commercial Real Estate represented the seller of 21.3 acres on North Houston Road. The buyer, Cypress Fairbanks ISD, was represented by Keith Grothaus with Caldwell Co’s. The sale of this site and a neighboring 37-acre tract fronting Cypress North Houston Road, concludes the disposition of 58.2 acres brokered by Vestal, John and Taylor Schmidt.
HOUSTON – The 236-unit Easy Self Storage at 11901 TX-249 in Houston has been sold, reported Marcus & Millichap.
HOUSTON— Joe Bright of NAI Partners —the commercial real estate services business of Partners Real Estate Company— recently arranged a 2,957 SF office lease for Fort Bend Dental DDS Partners Management, PA, a management company for Fort Bend Dental at 2277 Plaza Drive.
HOUSTON — NAI Partners arranged a 3,535 SF office lease for Vinland Energy, LLC at 820 Gessner Road in Houston. NAI Partners’ John Zivley represented the tenant. The landlord was represented by Brad MacDougall withMetroNational.
HOUSTON — Doc Perrier and Stephanie Flores with Finial Group facilitated a lease at 5111 Milwee St. in Houston. Finial Group represented FG-Gimel TX, LP, the landlord in the lease to the tenant, Glass Worx, LLC. Glass Worx is a glass supplier to the Greater Texas market.
FORT WORTH – Colliers announced the sale of Lake Country Villas located at Boat Club Road and Lake Country Drive in Fort Worth. DFW Housing Partners sold the community to Progress Residential. Jim Humphries of Colliers brokered the deal on behalf of both parties. Lake Country Villas is a build-for-rent investment asset.
SAN ANTONIO, Texas – Investors Management Group, a West Coast-based real estate investment and asset management firm, has acquired Hardy Oak, a 312-unit apartment community in San Antonio. Located at 23975 Hardy Oak Blvd., the gated property consists of 13 buildings constructed in 2020. Freddie Mac financing for the acquisition was secured through Charlie Mentzer at Capital One. Will Balthrope and Drew Garza of Institutional Property Advisors served as brokers.
AUSTIN, Texas — NAI Partners — the commercial real estate services business of Partners Real Estate Company— recently arranged the sale of 2212 S. Congress, a 2,878 SF retail/office building in Austin. NAI Partners’ Todd Mahler represented the seller, Grand Central Texas Development Corp. The buyer was represented by TSG National.
PLANO– Cushman & Wakefield advised Cawley Partners in the disposition sale of a 101,608-SF healthcare facility in Plano. The property is fully leased to Denver-based Eating Recovery Center, a leader for eating disorder treatment. Ventas, a senior living REIT, bought the 3-story building, 5120 Legacy Dr. It was developed spec in 2016 by VanTrust Real Estate.
LAS VEGAS, Nev.— Wynn Design & Development, the creative arm of Wynn Resorts, responsible for envisioning the company’s future, has signed a lease for 38,800 SF on the top floor at 1700 Pavilion, a 10-story office building under development in downtown Summerlin, according to the Howard Hughes Corp.
MIAMI, Fla. – Terranova Corporation Chairman Stephen Bittel announced that Terranova affiliate Gables Miracle Mile, LLC, closed the $55 million refinance of its portfolio of properties along Coral Gables’ historic Miracle Mile, paying off several existing loans and providing growth capital for the future.
SAN DIEGO, Calif. – Pathfinder Partners, a San Diego-based private equity firm specializing in multifamily real estate investments, announced the sale of the 140-unit Hadley Apartments in Thornton, Colo., to an undisclosed buyer for $38.5 million.
LAS VEGAS, Nev.— Avison Young has brokered the $15.25 million sale of a 14.57-acre site at the southwest corner of Arby Avenue and Gagnier Boulevard in Las Vegas (Clark County). Avison Young Principals Pat Sauter, Art Carll-Tangora and Steve Nosrat of the Sauter Multifamily Team exclusively represented the seller, a Nevada-based limited liability corporation.
SEATTLE, Wash. —Cushman & Wakefield announced that the real estate services firm was the exclusive advisor to Plus Capital Partners, LLC, in the procurement of $42,630,000 to refinance Shoresmith Apartments at 1170 Republican St. in Seattle. The floating rate financing was provided by Barings Real Estate Advisors of Lake Union, Queen Anne Hill and Capitol Hill. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer, Alex Lapidus and Meredith Donovan represented Plus Capital Partners.
RANCHO CORDOVA, Calif. — Transwestern Real Estate Services announced the team of Shivu Srinivasan, Robert Dau, Dante Giacomini and Connor McGarty represented both parties in the sale of Park Knoll Apartments, a 160-unit multifamily community at 10680 Coloma Road in Rancho Cordova. FPA Multifamily acquired the asset from an undisclosed seller for $25 million, or $156,000 per unit.
ETC – RNR News Briefs
Stream Realty Partners announced several recent transactions:
- System One Holdings, LLC, leased 8,400 SF at 6905 Brasada Drive. Andrew Littlefield and Tyler Maner with Stream Realty Partners represented the Landlord, Benjamin Group, LLC.
- Prestige Expeditors, LLC, leased 59,825 SF at Prologis World Houston Distribution Center 1 at 15625 Vickery Drive. Matteston Hamilton and Jeremy Lumbreras with Stream Realty Partners represented the landlord, Prologis.
- Winco International leased 9,000 SF at Park Ten Distribution Center at 1225 South Creek Drive. Garret Geaccone and Boone Smith with Stream Realty Partners represented the landlord, TIAA.
- Cosmos Wholesale, LLC, leased 8,268 SF at Post Oak Service Center, 1291 North Post Oak Road. William Carpenter and Boone Smith with Stream Realty Partners represented the landlord, Prologis.
- South Shore Holdings purchased 2231-2235 Sens Road in LaPorte, Texas, from Forrest Land, LLC. Tyler Maner with Stream Realty Partners represented the buyer.
Dec. 4, 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
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Photo credit: Ralph Bivins for Realty News Report Copyright 2021