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

RNR Real Estate Briefs from Realty News Report — HOUSTON – NAI Partners arranged the sale of 47.2 acres of land at 11022 Telephone Road in Houston. NAI Partners’ Zane Carman and Clay Pritchett represented the seller while David Claros and Robert Graf of Dosch Marshall Real Estate represented the buyer.

HOUSTON – First Reserve Corp, a private equity firm, leased 15,000 SF in the San Felipe Plaza in the Tanglewood area. First Reserve was co-represented by Philip Price of Newmark, and Trey Strake of Cushman & Wakefield. Director of Leasing Rima Soroka negotiated on behalf of Parkway.

HOUSTON – Miami, Florida-based Atlantic Pacific Companies acquired the 401-unit Broadstone Memorial on North Eldridge Parkway in the Energy Corridor. The property marks AP’s eighth acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III (BAP III). With this purchase, AP expands its Texas portfolio to 17 properties, to 6,000 units.

HOUSTON – The Multifamily Group, a Dallas-based commercial real estate brokerage firm, facilitated the sale of the 105-unit Winsome Court and the 83-unit Tiffany Square Apartments in Houston. Greg Miller represented the two separate sellers, and Bryce Smith represented the sole buyer for both properties, each of which was built in 1973.

HOUSTON– Patrinely Group, the managing member of the joint venture with USAA Real Estate and CDC Houston which is developing the 60-acre urban core of north Houston’s City Place announced that SHOP Companies was selected as the district’s retail leasing agent. City Place is located at the intersection of Interstate 45, the Grand Parkway and the Hardy Toll Road. SHOP is leading leasing efforts for four ground floor sites totaling 55,000 SF of available retail space, under the direction of Dennis Tarro and Phillip Moore of Patrinely Group.

SPRING – Stan Johnson Company completed the sale of a four-building medical office park located at 4701 Farm to Market 2920 in Spring,. Combined, the properties total 20,191 SF and was 83 percent leased. Evan Altemus of Stan Johnson Company represented the seller, a Texas-based developer.

HOUSTON – The 134-room Studio 6 Houston hotel at 220 Bammel Westfield Road near Interstate 45 in Houston has been sold, according to Marcus & Millichap.

HOUSTON – David J. Littwitz, a commercial real estate broker with Littwitz Investments, handled the sale of the 9,047 SF Steamboat House restaurant on 2.66 acres at 8045 North Sam Houston Parkway West. The dining spot closed in 2022. Littwitz represented the seller, Steamboat House, LP. The buyer, Brah, LLC, was represented by S.J. Mand with KW Commercial Realty. Financing for the buyer was provided by Wallis Bank and the closing was handled by Riverway Title Co.

HOUSTON – George Montes of Cypressbrook Co. represented the seller, ADT PLT, in the sale of a 2,960 SF auto dealership building on a 25,483 SF lot at 12303 Chimney Rock. AJ Williams of NAI Partners represented the buyer, Spark Partners LLC.

CONROE, Texas — SVN | J. Beard Real Estate completed the sale of a two-acre parcel at State Highway 242 and Lexington Drive in Conroe to LK Pop Holdings for a Popeyes restaurant. Diana Gaines of SVN | J. Beard Real Estate represented the seller. Greg Slusky of Sluco Realty Services represented the buyer.

SPRING, Texas — John Hornbuckle of Cypressbrook Co. and Ray Larson of ReMax represented McCoy, LLC, in the sale of eight acres of land on East Hardy Street in Spring.

HOUSTON — A 5,818 SF shopping center at 503 Westheimer Road in Montrose sold to Sea Pretty, LLC, from Moench Family Partnership. The lower Westheimer property, consisting of The Bar Method and The Seafood Connection, sits on 14,873 SF of land. Mike Maroney of MPM Commercial represented the buyer and the seller was represented by Mark Davis of Davis Commercial Real Estate.

PEARLAND, Texas – Kimberly DeVos of Cypressbrook Co. represented The Rooster in leasing restaurant space at 7129 W. Broadway in Pearland. The landlord, 2ML Real Estate Interests, was represented by Rusty Lily with CBRE.

HOUSTON— Home Great Supply, LLC and Fu Fu Holdings, LLC purchased a 38,000 SF office building at 9207 Country Creek Drive in Southwest Houston. They will relocate their home improvement and building supply wholesaler business to the property where they will have a showroom and offices. The buyers were represented by Vicky Lu of Sunet Group. The seller, Adonai Plaza, LLC, was represented by Lisa Rimkus of Davis Commercial.

KATY – NAI Partners arranged a 4,000-SF retail lease with Sushi Mafia at Westgreen Commons, located at 1400 N Westgreen Blvd in Katy.NAI Partners’ Jason Gaines represented the landlord, Sea Pretty LLC, Long Coffee Realty LLC, and Capital RC Investments.

CONROE – NAI Partners arranged the sale of 6.6 acres in Conroe.NAI Partners’ Hunter Stockard, Cary Latham, and Wyatt Huff represented the seller, Mediterranean Sea Capital, in the transaction. Tyler Clements of NAI Partners represented the buyer, Arissa Properties.

TEXAS – RNR Real Estate Briefs from Realty News Report

SCHERTZ, Texas — Atlanta-based developer Ackerman & Co. has broken ground for Doerr Lane Logistics Center, a 307,000 SF industrial project in Schertz, a northeastern suburb of San Antonio. The Class A distribution center will feature 32-foot clear heights, 318 automobile parking spaces and 96 trailer parking spots. Two undeveloped acres will be left for additional storage use. Completion is slated for February 2023. NAI Partners has been tapped to lease the development.

AUSTIN – Ryan Companies broke ground on a 345-unit multifamily community in Mueller, the 700-acre site of Austin’s former airport.

DALLAS – B+E, a brokerage and technology platform for net lease real estate, announced the opening of its Dallas office, naming Wayne Bare as its founding broker.

DALLAS – Wooden Camera Inc., a division of London-based Vitec Group, has nearly doubled the size of its headquarters office and support space, signing a long-term lease for 14,144 SF in Northgate II in northeast Dallas, according to Bradford Commercial Real Estate Services.

NATIONAL — RNR Real Estate Briefs from Realty News Report

NEW YORK, N.Y. — The Necessity Retail REIT completed the acquisition of 10 open-air shopping centers for a total of $220.8 million. The closing is the second tranche of acquisitions from the previously announced definitive agreement to acquire a portfolio of 79 power-anchored and grocery centers from CIM Real Estate Finance Trust, Inc. for $1.3 billion.

LAS VEGAS, Nev. — U-Haul acquired the former Bonanza Mini Storage facility at 2210 W. Bonanza Road to better meet the moving and self-storage demands of Las Vegas-area residents.

TUCSON, Ariz. — Vertical Street Ventures acquired the 96-unit Redondo Tower, a downtown high-rise apartment building in Tucson. VSV teamed up with Ral West and John Hardwick of Hardwick Apartment Homes, Ashok Patil and Mohit Bansal of Prime Investment and Louie Caumban and Rosalind Caumban of Fastpath Capital Group. The Tucson market has a multifamily vacancy rate of 4 percent.

ETC. — RNR Real Estate Briefs from Realty News Report

BATON ROUGE, La. —Houston-based Fidelis acquired Siegen Plaza, a 156,441-SF regional power center in Baton Rouge. JLL Capital Markets represented the seller, TriGate Capital LLC. The 94-percent-leased retail property is home to the No. 1 HomeGoods and the No. 2 Ross Dress for Less in Louisiana, along with the top Target in Baton Rouge as a shadow anchor.

DALLAS — The Texas office of Duke Realty Corp. announced 10 new lease agreements and renewals during the fourth quarter of 2021. The leases total 1,306,320 SF of industrial real estate. The activity includes a recently secured renewal and expansion with Genera Corporation, an automotive parts company, for 260,819 SF of space and a new lease with Dynamic Glass Products, a leading supplier of privacy glass, for 116,980 SF of space. As a result of this lease activity, Duke Realty’s Dallas portfolio of more than 17 million SF is 100 percent leased and the company’s Houston portfolio ha only one vacancy. The activity includes:

a renewal and expansion with Genera for 260,819 SF of space at 600 Freeport Parkway, Coppell;
a new lease with Dynamic Glass Products for 116,980 SF of space at 611 South Royal Lane, Coppell;
a new lease with SWS for 43,650 SF of space at 3102 Miller Park South, Garland;
a renewal with Valassis for 135,231 SF of space at 801 Seaco Court, Deer Park;
a renewal with Geodis for 158,940 SF of space at 8210 Humble Westfield, Houston;
a renewal with a global e-commerce retailer for 240,000 SF of space at 8120 Humble Westfield, Houston;
a renewal with DAP for 130,900 SF of space at 3102 Miller Park South, Garland, and
a renewal and expansion with Berlin Packaging for 219,200 SF of space at 13788 West Road, Houston.

Duke Realty’s Matt Hyman and Bryan Parker worked with Carter Fournier at Westway Realty, Mark Russell at Newmark Real Estate of Houston, Patrick Rollins at CBRE,Conrad Madsen and Greg Nelson at Paladin Partners, Mike Brandon at ProVenture Commercial, Anthony Waltier at KBC Advisors, Andy Goldston and Scott Jessen at Citadel Partners and Stephen Schneidau, David Eseke and Clay Balch at Cushman & Wakefield to secure these lease deals.