RNR Real Estate Briefs from Realty News Report HOUSTON – NAI Partners arranged the sale of 66.3 acres of land at 5805 S Sam Houston Parkway E in Houston to Hillwood Investment Properties. NAI Partners’ Clay Pritchett and Zane Carman represented the seller, 14800 Jersey Shore Drive, LLC.
HOUSTON-Venterra Realty acquired the 480-unit Stoneridge on the 8, formerly Advenir at Stone Park, 6160 E Sam Houston Pkwy N, in northeast Houston near Sheldon Reservoir. Founded in 2001, Venterra Realty owns and manages 70 communities with 20,000 units in 13 cities. Dror Goldbergis EVP of Acquisitions.
BAYTOWN – Reich Brothers acquired the former 1.2 million-SF DHL Intermodal Campus in Baytown, with plans to redevelop the property. The property is located in the 15,000-acre TGS Cedar Port Industrial Park. Matt Reich heads acquisitions at Reich Brothers, based in White Plains, NY and Los Angeles.
SPRING — Civitas Capital Group, a Dallas-based alternative investment manager, has acquired Cathedral Lakes, a 300-unit, Class “A” apartment complex at 698 Basilica Bay Drive in Spring.”This was our second multifamily acquisition in recent weeks,” said Rootvik Patel, Investments Director for Civitas, who led the transaction with Chandler Kyser.
SPRING – Houston Restore Pros, LLC purchased a 3.2 acre lot at 29646 Geneva Dr. in Spring for a new location of their restoration business. The seller, Harry Milstead, was represented by Ryan Neyland of Davis Commercial Real Estate.
HOUSTON – Gulf Coast Commercial Group, Houston-based firm specializing in retail, is developing the second phase of Lower Heights along I-10 between Studemont and Sawyer streets. Anderson Smith and Brett Levinson of newly formed Main Street Commercial Partners handles leasing.“Encompassing prime retail and specialty office plus luxury multifamily, Lower Heights has nearly fully reimagined what was not long ago abandoned industrial space,” said Gulf Coast president Tom Lile.
SUGAR LAND – Jersey Mike’s Subs leased 1,400 SF in the new Riverstone Place, a development of Wulfe & Co., at 18802 University Blvd in Sugar Land. The tenant was represented by Lane Zieben with The Retail Connection. The landlord was represented by Kristen Barker of Wulfe & Co.
PEARLAND – The 15,840-SF Broadway Shopping Center at 10009 Broadway Street in Pearland has been sold, reports Marcus & Millichap.
CONROE – Animal Emergency Hospital of Conroe leased 10,093 SF in Towne Center East Shopping Center at I-45 and SH 105 in Conroe. The landlord was represented by Sharon Biles of Sabre Properties. Bunny McLeod and Katherine Wildman of Wulfe & Co. represented the tenant.
HOUSTON – The 20,088-SF Coronado Village retail property at 12611 Woodforest Blvd. has been sold, reports Marcus & Millichap.
HOUSTON – New Horizon Hospitality acquired 13,546 SF at 2229 W. Holcombe and 2219 Dorrington. The property is just west of the Texas Medical Center near Greenbriar. The seller, HLS Family Trust, was represented by David Gerber of Gerber Realty. Gary Kob of Gary Kob & Associates represented the buyer.
AUSTIN – An ownership group of four co-owners, led by Vista Park Central, Ltd., a real-estate investment partnership sponsored by The Vista Companies, has sold Vista Park Central, a 115,000 SF office building on Parmer Lane in Austin. The buyer was Park Central Austin, LLC, of Santa Monica, Calif. Located in Austin’s dynamic north-central sub-market, Park Central was 93 percent leased and occupied at the time of sale. Both the seller and buyer were represented by Kelsey Shebay and Drew Fuller of JLL Capital Markets Austin office. The closing of the transaction was handled through Lesley Mann of Charter Title Co. in Houston.
AUSTIN – CBRE handled the sale of 1200 E. Anderson Lane, an 86,910 SF office building in Northeast Austin for $10.6 million. The buyer, Baltimore-based Sentinel Net Lease, led by Fred Lewis and Dennis Cisterna, plans a redevelopment. Bradley Bailey and Logan Reichle with CBRE’s Central Texas Investment Properties team, and Nate Stricklen with CBRE’s Austin Office Occupier team represented the seller.
AUSTIN – Regent Propertiesacquired the 20-story 816 Congress, a 435,000 SF Class A office tower in downtown Austin. The acquisition is Regent’s second investment via Regent Opportunity Fund V. Eric Fleissis CEO of Regent Properties, which is based in based in Los Angeles and Dallas.
TEMPLE,– FedEx Ground will open a new distribution center in Temple, TX. The new facility will be located on 52 acres in the Temple Industrial Park between NW H.K. Dodgen Loop and Trino Road. The new distribution center is the latest to join other logistics companies located at the crossroads of I-35 and the planned I-14 in Temple.
AUSTIN –Houston-based real estate investment manager 35 South Capital completed its first acquisition in Austin with its Front Porch Fund II, purchasing the 24,130 SF West Lake Hills Plaza at 3811 Bee Caves Road.“Austin is firing on all cylinders with growth in tech, manufacturing, education and government sectors and we don’t anticipate this to slow down anytime soon,” said 35 South Capital CEO John Morton.
WICHITA FALLS- NAI Partners arranged the sale of 2500 E Elliott, a 30,670-SF retail building in Wichita Falls. NAI Partners’ T yler Clements facilitated the transaction.
PLEASANTON – Colliers is announce the sale of the net lease property, ChampionX (Apergy), located at 385 Shale Road in Pleasanton. The buyer, EPLS, was represented by Mark Lewkowitz of Colliers in San Diego. Todd Moore and Barkley Peschel of Colliers represented the seller, CG Dover, in the transaction. The ChampionX leased property consists of two industrial warehouses totaling 23,500 SF on 9.6 acres
DALLAS – Firehouse Subs leased space at Village at Cross Roads on Highway 380 in Cross Roads, Texas. The landlord, Irish Tiger Investments LLC, was represented by Edge. The restaurant chain also signed a lease at a retail center in Red Oak. The landlord, Annadon LLC, was represented by Gilbert Realty Group. Grant Gary and Kendall Graff of The Woodmont Company represented Firehouse Subs.
TERRE HAUTE, Ind. – Vista Terre Haute, Ltd., a real estate investment partnership, sponsored by The Vista Companies, has sold Honey Creek Marketplace, a 108,000-SF shopping center in Terre Haute, Ind. to Maranatha Holdings. The center, anchored by Academy Sports & Outdoors and Fresh Thyme Farmers Market, was 100 percent leased. Both the seller and buyer were represented by Stan Johnson Co.’s Chicago office, with the closing handled by First American Title Insurance.
LAS VEGAS — New York Steak House Peter Luger will open in Caesars Palace in Las Vegas at the end of 2022. This marks the first domestic expansion in over 60 years for the Michelin-starred restaurant, which opened its doors in 1887 and is commonly known as New York City’s original steak house. It is their first U.S. location outside of New York.
DENVER — A joint venture comprised of Patrinely Group and USAA Real Estate announced an office lease at the 30-story Block 162 building. The Michael Best & Friedrich law firm will occupy 15,095 SF. The tower is located at 675 15th Street, between Welton and California Streets in Denver’s Central Business District,
CHICAGO – JLL Income Property Trust bought the Elgin Distribution Center, a two-building industrial property totaling 407,000 SF in the northwest Chicago suburb of Elgin for $47 million.
ETC from Realty News Report
McCann Buys Two Houston Apartment Projects; Looking for More
McCann Realty Partners announced the addition of three properties totaling 838 apartment homes to its portfolio in the 4th quarter of 2021 with the acquisition of two garden-style communities in suburban Houston, and one in suburban Richmond, VA in three separate transactions. Discovery at West Road (formerly known as Watermarke), a two and three-story 280-unit community built in 2005, sits on 15 acres at 9404 West Road adjacent to Sam Houston Tollway in HOUSTON. …Park West End, is a 312-unit community built in 1985 in RICHMOND, VA. … Haven at Eldridge, a three-story 246 -unit community built in 2015, sits on 11 acres at 13115 Whittington Drive near Eldridge Parkway in HOUSTON. McCann will invest capital to upgrade the exterior finishes, interiors, and amenities at each asset. All three properties will be managed by McCann’s Atlanta-based affiliate property management company, Pegasus Residential.
McCann continues to seek new acquisition and development opportunities in the Mid-Atlantic, Southeast, and Texas. For acquisitions contact Thomas Upson at (804) 708-1708.
Jan. 16, 2022 Realty News Report Copyright 2022
Photo: Block 162 building Denver. Courtesy Patrinely Group. Credit: Ryan Dravitz Photography
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RNR Real Estate Briefs are published by Realty News Report
Photo credit: Patrinely Group.. The City Place 1 building