RNR Real Estate Briefs from Realty News Report – HOUSTON – TBK CPA PLLC leased 12,000 sq. ft. of office space from 5718 Westheimer Road Investors LP. They are relocating their office from 2603 Augusta to the new property at 5718 Westheimer in Houston. CBRE’s Marilyn Guion, Parker Duffie, and Joel Douthit represented the landlord in the transaction. Phillip Thompson of Thompson Commercial Real Estate represented TBK CPA PLLC in the deal.
HOUSTON– DCCM, a national provider of design, consulting, program and construction management services, announced the acquisition of RG Miller Engineers, Inc. Based in Houston, the firm provides infrastructure services to public and private sector clients. In acquiring RG Miller, DCCM is partnering with industry veteran Jack Miller, who will continue as its president.
HUMBLE, Texas – California-based Bolour Associates acquired the 136-unit Northeast Pines apartment community in Humble for $9.62 million. Robert Su of Su Real Estate Group represented the seller of the property, 18839 S. Memorial Dr. “Houston is expanding rapidly, and the City of Humble is a prime beneficiary of that growth, thanks to its low cost of living and a local population where almost one half of the residents are renters,” said Bolour CEO Mark Bolour. “There is a lot of demand in this pocket of Texas and we expect that demand to remain high.”
HOUSTON –Colliers announced that Idle Hands leased 4,711 SF at the previous Rosemont bar location at 910 Westheimer Road in Houston. The development, Montrose Collective, is a mixed used project developed by Radom Capital and was represented by Brittney Austin and Linda Rubiola of SHOP Companies. Hannah Tosch, Wade Greene and Chris Nash of Colliers represented the tenant in the transaction.Idle Hands, with its first location on Rainey Street in Austin, is owned by a partnership between Matt Wolski and Andrew Hunter.
HOUSTON – Floor & Décor Design Studio signed a new 10,750 sq. ft. lease for retail space at The Plaza on Richmond, a shopping center located at 5177 Richmond Avenue in Uptown Houston. CBRE’s Jazz Hamilton and Rusty Lilley represented the landlord, while Joan Collum of Collum Commercial represented the tenant in the deal.
LEAGUE CITY, Texas – South Shore Medical Center, 6455 South Shore Boulevard in League City, has been sold to a California investor, according to Marcus & Millichap.
HOUSTON – State Fare Kitchen & Bar has leased 6,000 SF in Hughes Landing Restaurant Row at 1900 Hughes Landing Blvd. in The Woodlands. The dining spot serves southern favorites and new classic menu items. The landlord was represented by Jacob Weersing of Capital Retail Properties and the tenant was represented by Kristen Barker of Wulfe & Co.
HOUSTON – Faropoint Ventures purchased 9820 Drysdale Lane, a single-tenant distribution property in the northwest Houston industrial submarket. The 26,448 SF building has an acre of secure outside storage. Finial Group’s Jack Gaffney represented Faropoint, a real estate investment firm focused on last-mile distribution facilities.
THE WOODLANDS, Texas — Greg Usher of Cypressbrook Company represented the landlord, Vista Woodlands Partners, Ltd., in the lease renewal of 7,178 SF of lab space at 3400 Research Forest Drive in The Woodlands. Dustin Cruz of CRESA represented the tenant, Aquapharm Pchem, LLC.
HOUSTON — Jim Cooper of Cypressbrook Company represented the landlord, E.P. Office Holdings LP, in leasing 3,092 SF of office space at 4615 Southwest Freeway in Houston. Yolanda Gates of Connect Realty represented the tenant, Healthy You Wellness Clinic.
HOUSTON — John Hornbuckle of Cypressbrook Company and Ray Larson of Ray Larson Remax represented the buyer, QNJ Landholding, LLC, in the purchase of a 0.88-acre pad site at Kuykendahl Center, at Kuykendahl and the Grand Parkway. The seller, Dickinson Village, LTD, was represented by Clay Trozzo of Property Commerce, JW, Inc.
TEXAS — RNR Real Estate Briefs
DENTON, Texas– CBRE announced the sale of The Ranch at Joyce Lane, a 64-unit multifamily community at 3401 Joyce Lane in Denton. Washington State-based Woodruff Capital Partners purchased the property from Frisco-based N.O.I.S.E. Ventures. The buyer acquired the asset as part of a strategy to move capital to Texas. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas represented the seller.
PLANO – Houston-based Whitestone REIT acquired Lakeside Market, a 163,000-SF shopping center, located at 5809 Preston Road in Plano, adjacent to a new H-E-B, which is under construction. The seller was Dallas-based investor, JAH Realty, the Dallas Morning News said. Built in 1999, it is 80.5 percent leased. H-E-B, with annual sales of $28 billion, has 400 stores in Texas and Mexico.
CONVERSE, Texas – Cushman & Wakefield arranged the sale of The Heights at Converse, a 200-unit apartment community located in the city of Converse near San Antonio. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Acme Development LLC. Investors Management Group, a real estate sponsor focused on multifamily assets, acquired the property.
AUSTIN — Berkadia has arranged bridge financing for the acquisition of Lotus Village, a 222-unit apartment community in Austin. Brad Williamson of Berkadia Miami secured financing on behalf of a buyer affiliated with One Real Estate Investment, a real estate investment firm based in Miami.
WAXAHACHIE, Texas — The North Grove master planned community in the northeast area of Waxahachie has its next phase ready to go with the purchase of more than 70 acres at The Oaks of North Grove subdivision. Younger Partners’ David Hinson brokered the deal between buyer, Carrollton-based Bluebonnet Capital Partners, and the seller, a private family.
DALLAS – The Coupes Champagne Bar is locating in Dallas, at The Shops at Highland Park. The location will offer wine and craft cocktails in addition to small plates and desserts. Andy Anderson of Restaurant Properties Group represented Balthazar, LLC, d/b/a Coupes in the 10-year lease of the 4,058 SF restaurant. Alex Johnson of Stockdale Investment Group represented the landlord, Highland Park Shops, LLC.
SAN ANTONIO — Stonemark Management is now managing The Oaks at La Cantera, a 124-unit apartment community in San Antonio, at 15726 Chase Hill Blvd. The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeast, Texas and the Mid-Atlantic. The group includes Atlanta-based Stonemark Equities and award-winning Stonemark Management.
PILOT POINT, Texas– Ben McCutchin of Younger Partners brokered the acquisition of 152.67 acres on Pelzel Road in Pilot Point. Ben represented Gene McCutchin in the acquisition. This land, north of FM 455 and fronting Pelzel Road, adjoins about 260 acres of land Gene already owns. The land will continue to be used for agricultural cultivation and will be held as a long-term investment.
DALLAS – SM Bonnie View, LP, recently sold about 10 acres of land in South Dallas just a few months after purchasing the property. The buyer, Smartway Logistics, a trucking logistics company headquartered in Tracy, Calif., plans to develop the site for its use. The asset is located just south of I-20 between I-35 and I-45 at Bonnie View and Langdon roads.
FORT WORTH — Mmarooful H. Choudhury has acquired 5.2 acres of raw land at 8661-8689 John T. White Road, Fort Worth, from Morteza Naghavi. Erik E. Blais of Bradford Commercial Real Estate Services represented the seller in the direct deal.
FORT WORTH – Atlanta-based Preferred Apartment Communities bought Alleia at Presidio, a 231-Unit multifamily community in Fort Worth. Jeff Sherman, the company’s President of Multifamily said, “Alleia marks our re-entry into the Dallas-Fort Worth metroplex, which continues to lead the nation in total population growth.”
DALLAS – Dallas-based Hanover Property Co. announced the builder line-up for its $950 million BridgeWater master-planned development in Midlothian. The first phase of BridgeWater will include 470 lots by John Houston Homes, Perry Homes, Highland Homes, American Legend Homes and TriPointe Homes.
PLANO, Texas – ESJ Capital Partners, a real estate investment firm based in Miami, acquired Park Ventura, a single-story office and medical campus located at 5025 W. Park Boulevard in Plano. The 194,000-SF center is 90 percent leased. Arnaud Sitbonis president of ESJ.
SAN ANTONIO – Essex Modern City, LLC. is developing a mixed-use development on an 8-acre site at 51 Essex Street in downtown San Antonio. Kennedy Funding provided a $3.456 million land loan. Plans for Essex Modern City call for 80,000-SF of retail space, 80,000-SF of commercial office space, and 800 residential units
FARMERS BRANCH, Texas – Asurion, LLC, has subleased 5,936 SF of flex space in Valley View Commerce Center, 1861 Valley View Lane, Farmers Branch, from Strippit Inc. Brian Pafford of Bradford Commercial Real Estate Services represented the sublessor. Michael Meaden of CBRE represented the sublessee.
ARLINGTON – Arden Group acquired a 12-building, last-mile industrial portfolio totaling 582,803 SF in the Dallas-area community of Arlington. The seller, Fort Capital, was represented by the JLL Industrial Capital Markets team that included Stephen Bailey, Dustin Volz, Dom Espinosa and analysts Wesley Gilmer and Pauli Kerr. The portfolio is located near E. Randol Mill Road.
NEW YORK, N.Y. — JLL Capital Markets has secured $56 million in construction financing for the development of 202 E. 23rd St., a mixed-use, passive house designed, multi-housing property consisting of 108 units, located on the corner of Third Avenue and 23rd Street in the Gramercy Park submarket of Manhattan. JLL represented the sponsor, SMA Equities, to place the construction loan with Bank Leumi USA. Evan Pariser with JLL represented the borrower. 202 E. 23rd St. is a 20-story, 90,000 SF, mixed-use residential building that will consist of 80 market-rate units and 28 affordable housing units
CORONA, Calif. — Commercial real estate services firm Lee & Associates has closed a $23.6 million sales transaction for a 99,560 SF, brand new construction, distribution facility at 959 E. 3rd St. in the city of Corona, Calif. Justin Chiang and Kevin Ching of Lee & Associates – City of Industry represented the buyer, Millbury Home, LLC. Millbury Home is an international furniture manufacturer, distributor, and e-commerce enterprise.
BOSTON – Thomas Park Investments acquired its first greater Boston-area medical office building with the purchase of the 55,000-SF Merrimack Medical Center at 62 Brown Street in Haverhill, Mass.
VERO BEACH, Fla. – Boca Raton-based Waypoint Residential acquired 22 acres in Vero Beach where it will develop 176 multifamily units.
RENO, Nev. – Lansing Companies, which develops master planned communities, acquired 1,500 acres in the Reno, Nev. area. It is zoned for about 5,000 homes, plus commercial.
July 10, 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
File: RNR Real Estate Briefs
RNR Real Estate Briefs are a popular feature published by Realty News Report .
RNR Real Estate Briefs Copyright 2021
Photo Credit: Houston skyline by Ralph Bivins, Realty News Report Copyright 2021