RNR Real Estate Briefs from Realty News Report – HOUSTON – Griffin Partners announced the sale of 18210 Beaumont Highway, a 66,920 SF single-tenant manufacturing facility. Tom Lynch, Brad Smith and Bryan Strong of CBRE represented the firm. 18210 Beaumont was developed as a strategic build-to-suit for North West Rubber, a manufacturer and distributor of recycled rubber products. The facility is 100 percent leased.
HOUSTON – JERA Americas has signed a lease for 29,675 SF of office space at 1000 Main in Houston. Newmark represented JERA Americas, an energy company focused on developing zero and lower emission energy resources around the US and globally and helping transition to a clean energy future. Newmark’s Joshua Brown, Mike Fehn and Scott Lewis represented JERA Americas in the transaction. The landlord, Union Investment, was represented by Wade Bowlin and Marti Grizzle of Madison Marquette.
HOUSTON – Bridge Investment Group bought a 56,798-SF industrial property at 4525 Airline Drive. Conrad Bernard and David M. Boyd of Boyd Commercial/CORFAC International represented the seller, Delco Properties. Bernard and Boyd will be handling the leasing on behalf of Bridge Investment Group.
HOUSTON – Real estate investment firm 29th Street Capital has acquired Villas at Hermann Park apartments, marking the firm’s 15th acquisition in the Houston metro area. Built in 2000, Villas at Hermann Park is a 320-unit, Class A property.
HOUSTON — Biderman’s Deli has leased 2,327 SF at SkyHouse River Oaks, 2031 Westcreek Lane, Houston. The deli is a family owned Jewish-inspired business featuring house-made bagels and classic deli sandwiches, among other items. The Houston location will be Biderman’s second in Texas. The tenant was represented by Stelios Castillo of Atlantis Management Group and the landlord was represented by Kristen Barker of Wulfe & Co.
HOUSTON – SWS Holdings-Brady Island, LP acquired 10.8 acres of land at 8505 Cypress Street. The seller was Specialty Restaurants Corp., which was developed by David Munson of Boyd Commercial.
HOUSTON – Romco Properties, LLC, has purchased 4.5 acres at 11130 Tanner Road, west of Beltway 8, from Testmasters, Inc. Romco plans to build an industrial flex building to house its own company and lease the remaining space to prospective tenants. David Gerber of Gerber Realty represented the seller and Salvador Romo of Properties Premier represented the buyer.
HOUSTON — Federal American Grill, a casual restaurant serving lunch and dinner with an assortment of classic American comfort foods, leased 7,218 SF of space at Wood Ridge Plaza Shopping Center at 27800 I-45 North across from the Woodlands Mall in Oak Ridge North. The Wood Ridge Plaza site is the fourth Federal American Grill location in greater Houston. The tenant was represented by David Littwitz of Littwitz Investments, Inc. and the landlord was represented by Bunny McLeod and Katherine Wildman of Wulfe & Co.
THE HEIGHTS, Texas — Bruser Properties LLC has purchased a 2,100 SF office/warehouse at 948 W. 26thSt. in The Heights from HCB Interests. David Gerber of Gerber Realty represented the seller and Robert Torres of Realty Executives represented the buyer.
KATY, Texas — 1776 Steakhouse has leased 7,708 SF of retail space in Boardwalk Crossing at Kingsland Boulevard and AMC Drive, Katy, from Boardwalk Crossing LLC. Bob Conwell of NewQuest Properties represented the landlord. Jeff Goldberg of Gold Key Partners represented the tenant.
ROSENBERG, Texas — Victoria’s Secret has leased 5,276 SF of retail space in Brazos Town Center at Interstate 69/US 59 and FM 762/Reading Road, Rosenberg, from NewQuest Properties. Austen Baldridge and Bob Conwell of NewQuest Properties represented the landlord.
HOUSTON – Square Mile Capital Managementoriginated a loan secured by Empire West, a two-phased, 3.2-million-SF industrial portfolio being completed in Brookshire, west of Houston. The 300-acre project is at the northwest corner of Interstate 10 & Woods RoadPhase 1 of the Stream Realty Partners development was completed in 2020 and is 100 percent leased. Phase II is expected to be delivered in 2022. The financing was arranged by Colby Mueck and John Ream of JLL’s Houston office.
SAN ANTONIO, Texas — Morgan Stanley and Embrey will relocate their current offices in San Antonio to Embrey’s premier mixed-use development, 7600 Broadway, bringing the office building to 100 percent occupancy. Morgan Stanley will occupy 28,000 SF while Embrey will move its corporate headquarters into the remaining 25,000 SF. Property management services will be provided by Stream Realty Partners.
GEORGETOWN, Texas — NAI Partners’ Kevin Murphy arranged a 3,000 SF retail lease in Georgetown for Dog Haus Biergarten. The landlord was represented in-house by Derek Quinn of Durhman & Bassett.
EDINBURGH, Texas – NAI Partners sold 2502 West Trenton Road, a 33,028 SF medical office property in Edinburgh. NAI Partners’ Kevin Murphy represented the buyer, Trenton Square, LLC. The seller, 3BU Family Limited Partnership, was represented by Matt Nadler with Horvay & Tremblay in Boston, Mass.
GRAND PRAIRIE, Texas – International Leadership of Texas leased 3,549 SF of office space in Tower 360, 1901 N. Highway 360, Grand Prairie, from CC-1 North Highway 360 LP. Jared Laake, Erik Blais and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord.
FORT WORTH – DLP Capital purchased two tracts of land in Fort Worth with plans for two build-to-rent communities. Orchard Farms,located at Shelby Road & Rendon Road, will have 643 single-family rental homes. Mansions at Marine Creek onShadydell Drive will have 638 rental homes. DLP Capital’s CEO is Don Wenner.
WACO – Houston-based Buckeye Partners, L.P. will build a 270-megawatt solar project with 500,000 solar panels near Waco. Black & Veatch will provide engineering, procurement and construction services.
CHICAGO, Ill. — Dallas-based Westmount Realty Capital is partnering with a fund managed by the Real Estate Group of Ares Management Corp. to recapitalize a 51-asset industrial portfolio totaling 6.1 million SF in established industrial submarkets of Chicago and Milwaukee. Westmount and Ares acquired the properties from a Partners Group Westmount joint venture.
ORLANDO, Fla. – Transwestern Investment Group and Washington, D.C.-based Acento Real Estate Partners announced the sale of a three-building, 213,660 SF industrial portfolio in Orlando. The properties, Monroe Commerce Center and Park South, were 100 percent leased at the time of sale to Florida-based Richland Capital Holdings.
DENVER, Colo. — A joint venture made up of Patrinely Group and USAA Real Estate announced an office lease at Block 162 with Lathrop GPM, a national law firm with nearly 400 attorneys in 13 offices nationwide. Located at 675 15th St., between Welton and California streets in downtown’s central business district, Block 162 is a 30-story, 596,295 SF, Class A speculative office building certified as LEED (Leadership in Energy and Environmental Design) Gold core and shell.
ATLANTA, Ga. — Dalfen Industrial purchased two buildings in Atlanta, in the I-75 Northwest submarket at 505/515 Brown Industrial Blvd., Canton, Ga. The two-building industrial park totals 112,000 SF. The property is close to I-575 and Georgia Highways 20 and 400.
DAYTONA BEACH, Fla. — Hillwood and NASCAR will develop 200 acres adjacent to NASCAR home base Daytona International Speedway. The impact of this development is expected to bring jobs and investment to Volusia County and Central Florida. The new development, called Commerce 500, will develop 2 million SF of industrial space.
Patrinely Developing Downtown Tower in Wash.
Bellevue, Wash. -— Patrinely Group, in partnership with affiliates of Dune Real Estate Partners acquired a fully-entitled development site for a 484,000-SF office tower in Downtown Bellevue. The joint venture acquired the 0.93-acre site together with an advanced building design from an affiliate of FANA Group of Companies.
Located at the Southeast corner of NE 4th& 106thAvenue NE, the 21-story project will break ground this spring and deliver in Q4 2024.
“We are firm believers in the Bellevue market,” said Robert Fields, President and CEO of Patrinely Group. “We are confident this state-of-the-art building will be a welcome addition to the growing Bellevue skyline and provide prospective tenants an office space that will meet their needs not only today, but well into the future.”
The design team includes base building architect CollinsWoerman, general contractor Mortenson Construction, and structural engineer DCI. The design team’s collective expertise includes various public and private projects, including many for companies with a substantial and growing presence in the Puget Sound region. Gensler’s Houston office was recently added to the design team as the interiors architect.
Paul Sweeney, Jason Furr and Colin Tanigawa of The Broderick Group will be leasing FOUR106. Kevin Shannon, Ken White and Tim O’Keefe of Newmark represented the seller on the sale of the site. Bill Fishel, Tom Wilson and Rachael Lewis of JLL arranged financing for the project.
Jan. 22, 2022 Realty News Report Copyright 2022
The RALPH BIVINS PROJECT podcast welcomed guest Frank Nothaft, chief economist of CoreLogic. LISTEN:
Image: Rendering of proposed Patrinely office project in Bellevue, Wash.
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