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

RNR Real Estate Briefs from Realty News Report  – HOUSTON – Lincoln Property Co.  reported that several leases have been signed at the CityNorth development.  Products expanded 19,224 SF; the tenant broker was Anthony Squillante with Stream Realty Partners.  The firm is occupying its third floor at CityNorth. …W.S. Nelson & Co. signed a 25,937 SF lease. The tenant broker was Bill Wolff with Fritsche Anderson.…White Oak signed a lease for 19,923 SF, expanding to an entire floor. The tenant broker was Michelle Wogan with Transwestern …..Noatum Logistics signed a lease for 10,207 SF. The tenant broker was Jay Kyle with Colliers.  All four leases were signed at Building 4 at CityNorth, bringing the building occupancy to 89 percent. The landlord leasing team at CityNorth includes Lincoln’s  Kevin Wyatt, Robert Willard and SuAnna Wyatt.


PASADENA, Texas — NAI Partners  —the commercial real estate services business of Partners Real Estate Company — recently arranged the sale of 5040 Crenshaw Road, an 18,730 SF medical office facility on 1.93 acres, on behalf of Preston Medical Realty in Pasadena. NAI Partners’ Cary Latham and Wyatt Huff represented the seller and also secured the buyer, an entity sponsored by Pisula Development Company based in The Woodlands.


HOUSTON – Lincoln Property Company’s Virgil Hydes represented Enterprise Development in the sale of a two-story, 66,430 SF office building at 1880 Dairy Ashford, to a subsidiary of THFGOC represented by Douglas “DJ” Hale of Oxford Partners Commercial Real Estate Services.


 SUGAR LAND -Welcome Group bought a 97,108-SF manufacturing/office facility located in the Sugar Land Business Park at 522 Gillingham Lane. Situated on 7.3 acres, the building is occupied by Cubic ITS, Inc. whose Trafficware technology promotes green initiatives by optimizing the flow of motorist and pedestrian traffic. The property was built in 2009 by Houston-based KDW.  Brad Berryof Welcome Realty Advisors handled the sale.


HOUSTON — The Mission Companies acquired three multi-tenant Class B office buildings totaling 222,000 SF in southeast Houston. Located at 2100 Space Park Drive, 2200 Space Park Drive and 2200 NASA Road One, the assets are located near NASA’s Johnson Space Center. Collectively, the buildings have an occupancy rate of 85 percent.Featherwood Capital, LLC, represented the seller and The Houston Group arranged financing for Mission.


HOUSTON — Orangetheory Fitness leased 3,425 SF at 7205 Fannin in Houston. The company is a heart rate-based total body workout center focusing on rowing, cardio and strength training. The tenant was represented by Bruce Frankel of Frankel Development Group and the landlord was represented by Katherine Wildman of Wulfe & Co.


PEARLAND – Welcome Group bought a 46,000-SF industrial facility at 14740 Kirby Drive in Pearlandwhere tenant Cardiovascular Systems, develops and commercializes treatment systems for patients with heart disease. Linbeck built the space on an 8.7-acre tract near Beltway 8 in 2010.Pamela Websterof Welcome Group, and Jim Gibson with Stan Johnson Co. represented the buyer. The seller was represented by Albert Muller with Stan Johnson Co.


MONTGOMERY, Texas – Lake Conroe Center, at 18024 TX-105 in Montgomery, has been sold reported Marcus & Millichap. 

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – CBRE, Trammell Crow Company  and Clarion Partners, LLC, announced that American Canning signed a long-term lease to occupy the entirety of a 154,786 SF facility at TCC’s Park 183 in Southeast Austin. The craft beverage packaging manufacturer is establishing a new headquarters at the site, a multi-phase industrial park that will comprise just over 950,000 SF of Class A space once completed. CBRE’s John Barksdale and Joe Novek represented TCC. CBRE’s Darryl Dadon represented the tenant.


SAN ANTONIO, Texas — Orion Real Estate Partners bought Maxwell Townhomes, a 316-unit, value-add multifamily community in North Central San Antonio. The seller was Resource REIT. Newmark’s Patton Jones and Matt Michelson represented Resource REIT.


AUSTIN, Texas— NAI Partners has sold 8740 N. Lamar, a 3,600 SF, owner-user office property in Austin. NAI Partners’ Ryan McCullough, Tyler Jaynes  and Connor Watson represented the seller, Dr. Thomas Fedesna, D.C.


SAN ANTONIO – Welcome Group bought two propertiesin San Antonio, including a80,431-SF office/lab space at 6203 Farinon Drive, where tenant KCI USA, Inc. develops innovative healing solutions. The firm also acquired a 43,860 SF office/lab facility at 6603 First Park Ten Boulevard..


FORT WORTH – Starboard Realty Advisors acquired Presidio at River East, a 140-unit garden-style community in Fort Worth. The seller, a Dallas based developer, was represented by Drew Kile, Joey Tumminello, Michael Wave, Taylor Hill, Jeff Kindorf, and Will Balthrope of IPA. Located at 2413 Race Street, the Presidio is 3 miles from downtown Fort Worth.Steve Carlton is COO of Irvine, Calif.-based Starboard.


LUFKIN, Texas — Williams Mobile Home Park, a 51-space manufactured homes community in Lufkin, has been sold, it was reported by Marcus & Millichap. 


SAN ANTONIO, Texas – Avison Young has brokered the $2.725 million sale of a single-tenant property occupied by Dutch Bros. Coffee at 4527 Rittiman Road in San Antonio. Avison Young principals Chris Maling and David Maling represented the buyer, California-based 10477 Holdings, LLC. The seller, Texas-based CVP – Rittiman DB, LLC, was represented by SRS National Net Lease Group.


CARROLLTON, Texas — CEX Holdings, LLC, has renewed its lease for 58,180 SF of distribution warehouse space in Marsh Business Park West, 2727 Realty Road, Carrollton. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, NWP TX TT LLC.


GRAND PRAIRIE, Texas — AllPoints of Texas has renewed its lease for 51,200 SF of warehouse space in Trinity West Business Park, 2450 114th St., Grand Prairie. Michael W. Spain  and Jim Ferris of Bradford Commercial Real Estate Services  represented the landlord, William J. Owen Trust and OMO Investment Co. Bill Biesel of Biesel Investments Inc.  represented the tenant.


PLANO, Texas – CIT, a division of First Citizens Bank, provided financing for the acquisition of the Morada Plano Apartments in Plano. Built in 2019 and 2020, the complex has 183 units. The borrower is  The Jacobson Co. of  Los Angeles.

NATIONAL —RNR Real Estate Briefs from Realty News Report

DENVER, Colo. — Co-developers Hines, Ivanhoé Cambridge and McCaffery,international real estate firms, announced construction financing for T3 RiNo with a $91 million Green Construction Loan. The financing is aligned with Green Loan Principles. The six-story, 235,000 SF T3 (Timber, Transit and Technology) office building in Denver’s River North Art District will be built with a carbon-negative heavy timber building structure.

PIGEON FORGE, Tenn. – The Ephant Group purchased the 100-room Hampton Inn & Suites Pigeon Forge from East TN & Nelson Holdings.  Hunter Hotel Advisors marketed the hotel.


MILWAUKEE, Wisc. — Transwestern Real Estate Services announced the sale of 5600 Professional Center at 5600 W. Brown Deer Road in Brown Deer, Wisc. The property, which was 100 percent leased at the time of sale, was purchased for $1.9 million by Aspire BD 5600, LLC. Transwestern’s Shaun Dempsey  represented the seller

ETC


Welcome Group Active in Southeast

While Welcome Group grows its Texas portfolio, it also is focused on acquiring existing occupied properties in high-growth markets throughout the southeast U.S., according to Welcome Wilson, Jr., president and CEO of Welcome Group.

The firm has acquired its first property in South Carolina, a 201,500 SF facility 30 miles north of Charleston in the town of Moncks Corner. Sea Fox Boat Company occupies the space to develop and build a variety of hand-crafted saltwater boats. Earlier this year, Welcome Group acquired two commercial properties in Georgia, its first purchases outside Texas.

“We’re looking to expand our footprint in North Carolina, South Carolina and Georgia, in particular,” says Wilson. “That’s really going to set the table for us in terms of long-term growth.”

Welcome Group owns a diverse portfolio of over 130 industrial properties spanning more than 6 million SF.


Feb. 5, 2022 Realty News Report Copyright 2022

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

Photo: 801 Travis. Courtesy Lincoln Property Co.


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