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

RNR Real Estate Briefs from Realty News Report -HOUSTON, – Levcor announced a vibrant redevelopment plan for Post Oak Plaza, a collection of shops, restaurants and services located at the intersection of Post Oak Boulevard and San Felipe Road. Recently announced restaurant partners opening at Post Oak Plaza include Kenny & Ziggy’s, Maragume Udon and il Bracco. Shop Companies will lead leasing efforts during Post Oak Plaza’s redevelopment.

TOMBALL, Texas — NAI Partners, the commercial real estate services business of Partners Real Estate Company, recently arranged the sale of 13915 Service Center Drive, a 16,000 SF industrial building in Tomball. NAI Partners’ Travis Land represented the seller, Adkisson Group. 13915 Service Center Drive is part of a five-building, tilt wall industrial park with three buildings ranging from 12,000 to 26,250 SF still available for sale or lease.

HOUSTON – The Havins Law Firm has leased space at 6750 West Loop South.  William McCarthy with Finial Group  represented the tenant.

STAFFORD, Texas – Within the past month, NAI Partners  leased more than 30,000 SF of flex space at Murphy SW Business Center, 12999 Murphy Road in Stafford, for Partners Capital, the investment platform of Partners Real Estate Company. NAI Partners’ Abby Fraher represented the landlord in all transactions. Her use of technology and organization allowed nearly 50 deals to be worked in the first six weeks of leasing since Partners Capital acquired Murphy SW Business Center, and more than 20 to date have been signed. She represents the Stafford Properties owned by Partners Capital and managed and leased by NAI Partners.

HOUSTON – Fellows, LLC, has purchased 9.53 acres at Fellows Road and Del Papa Street, Houston, from Minchau Hoang. Brad LyBrand of NewQuest Properties represented the seller.

RICHMOND, Texas – Bahama Bucks has leased 1,567 SF in the Commons at Harvest Green, 11135 Harlem Road in Richmond. The tenant was represented by Kristen Barker of Wulfe & Co.

CONROE, Texas– Marcus & Millichap  announced the sale of 27493 Hanna Road, a 18,800 SF industrial property in Conroe.

HOUSTON – Meraki Franchisee I purchased a 0.76-acre tract with a 1,368 SF former restaurant at 8405 N. Houston Rossyln Road, Houston, from SRI Real Estate Properties, LLC. Joseph Marburger, Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the buyer. Amit Mehta of Amit Mehta Inc. represented the seller.

TEXAS — RNR Real Estate Briefs

SAN ANTONIO – Weingarten Realty has sold a former movie theater property to San Antonio-based Koontz Corporation, which will build a 300-unit apartment complex on the site, 12631 Vance Jackson Road. The site was previously occupied by the Regal Fiesta movie theater.

AUSTIN — NAI Partners,  the commercial real estate services business of PartnersReal Estate Company, recently arranged a 2,875 SF office lease for LK Jordan at 8140 MoPac Expressway N in Austin. NAI Partners’ John Lively and Todd Mahler represented the tenant.

PLANO, Texas – CTO Realty Growth selected Vestar as the asset management company for The Shops at Legacy North, a 236,000 SF, retail-driven, mixed-use lifestyle property in Plano.  The shopping plaza, built in 2007, includes nearly 1,000 parking spaces. Situated on 12.7 acres across the Dallas North Tollway, it is currently 83% occupied. CTO acquired the property last month.

DALLAS — American Landmark Apartments,a rapidly growing multifamily owner-operator, has acquired Olympus at Ross, a 368-unit, multifamily community in Dallas. The property will be renamed Macallan at Ross. The acquisition brings American Landmark’s holdings in the Dallas-Fort Worth area to 21 properties.  Based in Tampa, Fla., American Landmark specializes in the acquisition and management of value-add multifamily assets

FARMERS BRANCH, Texas – Crossbuck BBQ signed a 4,065 SF lease at Spring Valley Business Center, 4400 Spring Valley Road. Younger Partners’ Taylor Tuite and John St. Clair represented the tenant. Rich Young Company’s Rich Young Jr.  represented the landlord.

PLANO, Texas – Tremont Realty Capital announced that its managed company, RMR Mortgage Trust, provided a $27.4 million loan for the refinancing of 500 N. Central Expressway in Plano, a five-story, 237,000 SF, multi-tenant office property.  Campbell Roche and Jarrod McCabe of JLL  in Dallas are the brokers who arranged the loan for MoxieBridge, the property owner.

ODESSA Texas – Stream Capital Partners, an international sale-leaseback advisory firm, has arranged the sale and leaseback of an outdoor storage industrial asset in Odessa. The tenant is LSE Crane & Transportation, a crane rental and service company based in Texas. Totaling 6.83 acres, the property sold for $120,000 more than the asking price to a private buyer.

CARROLLTON, Texas – The Cloud Boys Bakery has leased 41,245 SF of industrial flex space in Marsh Business Park West Building 3, 1215 Marsh Lane, Carrollton, from NWP TX TT LLC.Brian Pafford of Bradford Commercial Real Estate Services represented the landlord. Nathan Denton of Lee & Associates DFW  represented the tenant.

DALLAS – 3DFORUS, LLC, has leased 7,085 SF of industrial flex space in Park Forest Business Center, 10500 Merit Drive, Dallas, from Tyler Family Real Estate Investments, LLC. Noah Dodge and Jason Finch  of Bradford Commercial Real Estate Services  represented the landlord.Chima Ogueri  ofHolt Lunsford Commercial  represented the tenant.

ARLINGTON, Texas – CareReview Inc. has leased 2,375 SF of office space in Arlington Downs Tower, 2225 E. Randol Mill Blvd., Arlington, from Arlington Downs Tower. Richmond Collinsworth and Erik Blais  of Bradford Commercial Real Estate Services represented the tenant and landlord, respectively.

NATIONAL — RNR Real Estate Briefs

ATLANTA, Ga. – Transwestern Real Estate Servicesannounced its Southeast Investment Sales team arranged the sale of Noble Vines at Braselton, a 248-unit, garden-style apartment community at 1500 Noble Vines Drive in Braselton, Ga. Transwestern’s Mike McGaughy and Jon Kleinberg brokered the sale to Passco Companies, LLC, for $69 million, or $278,225 per unit, on behalf of the owners, Claret Communities and The Ardent Companies.

CHICAGO, Ill. — Peak Properties, LLC, has been appointed to brand, lease, advise on construction and manage a 94-unit condo deconversion in the heart of the Gold Coast neighborhood at 1344 N. Dearborn St. in Chicago. The property was recently acquired with the intent to invest more than $3 million in renovating both the individual units and common areas.

CLEVELAND, Ohio – — Provider Real Estate Partners,  a Cleveland-based investor in medical office properties nationwide, completed the acquisition of two medical office buildings in Little River, S.C. and Las Cruces, N.M.  The properties offer a combined total of 28,899 SF.

DENVER, Colo. – Transwestern Real Estate Services announced it has sold two multifamily properties, The Avalon at 645 Wolff St., and Estrella at 7030-7070 Pecos St. The apartment communities offer a combined 356,000 SF and 427 units. Transwestern’s Tom Wanberg and John Blackshire represented Mountain View Capital in the disposition to Oak Coast Properties, which purchased the assets for $61 million, or $143,000 per unit.

TRUSSVILLE, Ala. – Homestead Village, an ALDI-anchored shopping center in Trussville, Ala. was purchased by an affiliate of Select Strategies Realty. JLL Capital Markets represented the seller, Blackwater Resources, which developed the 107,000 SF center.

July 17, 2021 Realty News Report Copyright 2021

Caption: Post Oak Plaza  is being redeveloped by Levcor. Image: Courtesy: Levcor

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     

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RNR Real Estate Briefs are a popular feature published by Realty News Report .

RNR Real Estate Briefs Copyright 2021

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