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

RNR Real Estate Briefs from Realty News Report – HOUSTON – Patrinely Group, managing member of the joint venture with USAA Real Estate and CDC Houston developing City Place, announced that Twin Eagle Holdings energy firm has leased 10,853 SF in City Place 1.  The tenant was represented by Rich Pancioli of CBRE.Chrissy Wilson  and Matt Pruitt  of JLL and Phillip Moore of Patrinely Group,  under the direction of Patrinely’s Dennis Tarro,  represented the landlord. The 149,000 SF office building is in City Place, formerly known as Springwoods Village.

PEARLAND – Partners Capital—the investment management platform and development arm of Partners Real Estate Company— acquired Silverlake Business Park, a five-building, 90,000-SF. flex office/warehouse park located at 2837 Miller Ranch Road in Pearland. Partners Capital worked with Wes Cole at Cantera Real Estate Group to source the deal off-market. The seller—original developer WC Properties, Ltd.—represented itself. Financing was provided by Peyton Jones at Veritex Bank.

HOUSTON — Lilly Golden of Evergreen Commercial Realty represented Chicken Salad Chick in leasing 2,385 SF from Regency Centers at the Randall’s-anchored shopping center at Weslayan and Bissonnet streets in West University.

CYPRESS, Texas — Dunham Pointe expanded its roster of homebuilders as it opens its first phase of new homes on the last major parcel along the 290 corridor south of the Grand Parkway. Newmark Homes has joined Coventry Homes, David Weekley Homes, Toll Brothers and Tri Pointe Homes to purchase 199 homesites in the community.  Construction is underway.

THE WOODLANDS  – Greg Usher of Cypressbrook Company represented the landlord, Vista Woodlands Partners, Ltd., in the leasing of 3,732 SF of flex/office space at 8701 New Trails Drive, The Woodlands. The tenant, Huatan Landscaping, LLC., was represented by Alexandra Marques of Zarco  properties.

MISSOURI CITY, Texas — James Avery has leased 2,800 SF of retail space in Fort Bend Town Center Phase II at TX 6 and Fort Bend Tollway, Missouri City, from NewQuest Properties.  Andrew Alvis and Bob Conwell of NewQuest Properties represented the landlord.

The WOODLANDS, Texas — Porta’Vino restaurant has leased 4,412 SF on the first floor of East Shore Place, a development of Wulfe & Co. at the northwest corner of Grogan’s Mill Road and East Shore Drive, The Woodlands. East Shore Place is the second Porta’Vino location for longtime restaurateur Bill Floyd. The tenant was represented by Greg Usher of Cypressbrook Company and the landlord was represented by Katherine Wildman of Wulfe & Co. 

TEXAS — RNR Real Estate Briefs from Realty News Report

SAN ANTONIO, Texas – Sherman Residential,  a Chicago-based multifamily investor and operator, has acquired The Standard at Legacy, a 323-unit, mid-rise, multifamily asset at 1938 E. Sonterra Blvd. in the Stone Oak area of San Antonio. Newmark’s Patton Jones and Matt Michelson represented the seller, Embrey, a San Antonio-based apartment firm.

FORT WORTH, Texas — Richard Farrelly and Ben Searway of Farrelly Searway Group represented the seller on a 10.88-acre assemblage located at I-30 and Bryant Irvin Road in Fort Worth. The Farrelly Searway Group is affiliated with Coldwell Banker Realty’s Fort Worth office.  The transaction value was undisclosed, but constitutes the single largest commercial transaction to date for Coldwell Banker Realty’s Fort Worth office.

SAN ANTONIO–– Westmount Realty Capital  announced the sale of Joule Apartment Homes, a Class B, garden-style multifamily community at 10707 IH-10 West in San Antonio. The 300-unit multifamily community consists of one- and two-bedroom units averaging 682 SF.

IRVING, Texas – Williams Mechanical Inc. has leased 9,904 SF of flex space in Las Colinas Business Park, 6025 Commerce Drive in Irving, from DFW Gateway LLC. Jared Laake and Erik Blais of Bradford Commercial Real Estate Services represented the landlord. Anthony Enih of RE/Max Legacy Living  represented the tenant.

SAN ANTONIO — A joint venture of PCCP, LLC and Milam Real Estate Capital will develop a speculative 560,500 SF industrial building alongInterstate 10 near the Loop 410 interchange in northeast San Antonio. The site is within Milam’s 340-acre Rosillo Creek Industrial Park.Dustin Volzand Dom Espinosa of JLL brokered the capital raise for this transaction.  Ty Bragg of Cavender Hill will be leasing the project.

AUSTIN — NAI Partners — the commercial real estate services business of Partners Real Estate Company — has sold 8121 Bee Caves Road, an 11,437 SF office property in Austin. NAI Partners’ Connor Watson, Ryan McCullough  and Tyler Jaynes represented the seller, Angelou LLC. The buyer was an entity called Lonestar PE, LLC.

SAN ANTONIO – Cushman & Wakefield represented Stream Realty Partners   in the disposition of a 117,597 SF Class A medical office park in San Antonio. The three-building portfolio is 93 percent leased to tenants representing diverse medical specialties. Comprised of three two-story medical office buildings, the property is adjacent to North Central Baptist Hospital and Methodist Hospital Stone Oak, part of HCA Healthcare. Travis Ives and Gino Lollio of Cushman & Wakefield’s Healthcare Capital Markets Team  worked with Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield’s Central Texas Capital Markets Team on the assignment.

NATIONAL — RNR Real Estate Briefs from Realty News Report

GREENVILLE. S.C. — Led by Mayank Patel, Hunter Hotel Advisors  represented Tara Investments in the sale of the Hyatt Place in downtown Greenville, S.C. Apple Hospitality REIT bought the property in a continued effort to add newer, vintage, high RevPAR assets to their select-service portfolio.

CHAFFEE, Mo. — Cannabis REIT NewLake Capital Partners has acquired a 70,000 SF property in Chaffee, Mo., and entered into a long-term lease with dispensary, Organic Remedies. NewLake’s total investment in the property will be $21.1 million and its entrance into Missouri marks the 11th state in which it owns properties.

Jan. 9, 2022 Realty News Report Copyright 2022

The RALPH BIVINS PROJECT  podcast welcomed guest Frank Nothaft, chief economist of CoreLogic. LISTEN: Click Here.

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: Patrinely Group.. The City Place 1 building

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