RNR Real Estate Briefs from Realty News Report – HOUSTON – Vista Cypresswood Ltd. signed three leases totaling 22,000 SF for its building located at Cypresswood Drive and Cutten Road in northwest Houston. Crescent Pass, represented by Tyler Finley of CBRE, leased 12,025 SF. Everline Compliance, represented by Ross James of Lee & Associates, has leased 8,317 SF and Premier Dental Club, represented by Charla Hodges with Carr Real Estate, has leased 3,686 SF. In all three, the landlord was representedby Louann Pereira of Transwestern and Courtney Lavender of Vista Management.
HOUSTON – Chicken Salad Chick leased 3,000 sf in Sienna Phase III at the SEC of Hwy 6 and Sienna Parkway. Lilly Golden of Evergreen Commercial Realty represented the tenant and Lauren Shepherd of Williamsburg Enterprises represented the Landlord. Evergreen Commercial Realty in partnership with Poag Shopping Centers signed leases with several retailers at LaCenterra at Katy Ranch including LoveSac, Skin Spirit, and The Shade Shop.
HOUSTON – A new Allbirds footwear and apparel shop will be located at 2503 Amherst at Kelvin Street and will occupy 2,807 SF. “Allbirds is thrilled to open our first store in Houston at Rice Village,” said Talia Loewenstein, Allbirds’ director of global real estate. Burdette Huffman of The Blue Ox Group represented Rice Village.
HOUSTON– Cushman & Wakefield announced that the real estate services firm has arranged a 1,300 SF lease for Three Brothers Bakery at Tanglewood Center. Michael Burgower and Eric H. Lestin of Cushman & Wakefield represented the tenant. Kathy King of Edge Realty Partners represented the landlord, Unilev Capital.
HOUSTON — Frisco-based Worldwide Commercial brokers Jerad Rector and Tyler Bynum sold a two-property multifamily portfolio of 329 units known as Campbell Grove (185 units) and Woods of Spring Grove (144 units) in the Spring Branch area of Houston. The properties were built in 1960 and 1969, offering one-, two-, and three-bedroom units. Amenities include fitness center, leasing office, pool and dog parks. ARI acquired the properties. The seller was out of New Zealand. In the last year, Worldwide Commercial has sold more than 1,000 units in the Houston market.
HOUSTON – NAI Partners arranged the sale of a 27,987 SF warehouse at 8440 N. Sam Houston Parkway West. NAI Partners’ Cary Latham and Hunter Stockard represented the seller. The Billiards Factory executed a short-term sale leaseback in anticipation of its new distribution facility in Tomball Business and Technology Park, expected to open in the first quarter of 2023. Travis Land of NAI Partners represented the buyer.
HOUSTON – Vista’s Plazas in the Parkway shopping center at Eldridge Parkway and Enclave Parkway in west Houston has signed Common Bond On-The-Go for a 1,600 SF lease, Hungry Howie’s to a 1,500 SF lease and Bodysense Aesthetic & Wellness Center to a 1,260 SF lease. Common Bond On-The- Go was represented by Edward Heap and Robert Bernard of STS and Bodysense Aesthetic and Wellness Spa was represented by Brent Tomlinson of Tomlinson Commercial. Courtney Lavender of Vista Management represented the landlord, Plazas Houston Properties, in all three leases.
HOUSTON – Elite Rent-A-Car leased 1,593 SF at the Carillon Shopping Center at 10001 Westheimer. The landlord was represented by Katherine Wildman of Wulfe & Co.
HOUSTON – Reed Vestal and John Erck of Junction Commercial Real Estate represented an undisclosed buyer in the acquisition of a 7.2-acre land tract at 14900 Market Street, near the corner of Beltway 8 & I-10 East. The undisclosed seller was represented by A.J. Williams and Travis Land of NAI Partners.
JACINTO CITY, Texas — NAI Partners arranged a 91,000 SF industrial lease renewal with PK Industrial, LLC, at 4800 Fidelity St. in Jacinto City. NAI Partners’ Chris Caudill represented the tenant. Eric Hughes with Centermark Commercial Real Estate represented the landlord.
CYPRESS, Texas — Twinkle Nail Bar has leased 2,154 SF of retail space in Cypress Lakes Crossing at Mueschke Road and TX 290, Cypress, from Arbed Mueschke LP. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord. Tan Le of Address Commercial represented the tenant.
HOUSTON — Chase Tucker and Doc Perrier with Finial Group secures a lease at 6942 Signat Dr. The tenant, M&S America, leased 10,400 SF in a master planned business park located in the northwest industrial submarket. Finial Group represented the landlord, Three Diamond Capital Holdings.
HOUSTON- Marble Capital, a Houston-based investment advisory firm focused on multi-family, has agreed to enter into a partnership with Navigator Global Investment. Navigator will purchase a minority stake in the business and become a passive partner. Most of the capital will be used to support Marble Capital’s near term growth initiatives, including funding larger general partner commitments to Marble Capital funds. David Oelfke and Adam Allen areco-founders and managing principals at Marble Capital.
PLANO, Texas — Western Wealth Capitalannounced the closing of its 125th real estate acquisition – the 250-unit Villas at Chase Oaks Apartment Homes in Plano. This is Western Wealth Capital’s 20th multifamily acquisition in the Dallas/Fort Worth market.
WELASCO, Texas– NAI Partners arranged the sale of a 44,304 SF industrial warehouse on 4.26 acres of land at 818 E. Expressway 83 in Welasco. NAI Partners’ Carlos Marquez represented the buyer, Western Industries Corporation. Charles Marina of First American Realty represented the seller, Fidelity Bonded Warehouse of Texas.
CARROLLTON, Texas – 3D Implant Solutions, LLC, and Dr. David Chei have leased 4,435 SF of office space in Counter Point at Valwood Building 1, 1548 Valwood Parkway, Carrollton, from Valwood Parkway Partners Ltd. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord. Jay Cho of Texas Legacy Realty represented the tenant.
DALLAS — S2 Capital, LLC, acquired a two-property portfolio in the Dallas metro area. The portfolio includes Legends on Lake Highlands, a 356-unit multifamily community in East Dallas and Carrollton Oaks, a 320-unit apartment complex in Carrollton.
SAN ANTONIO – Walker & Dunlop brokered the sale and arranged acquisition financing for NOAH Apartments, a 224-unit multifamily property in San Antonio.
GEORGETOWN, Texas – Titan Development and Greater Austin Merchants Cooperative Association are developing a 297,057-SF industrial facility at NorthPark35 Industrial Park, located in Georgetown.
ALBUQUERQUE, N.M. – Group 1 Automotive of Houston acquired Larry H. Miller Toyota in Albuquerque. The dealership, which will be renamed Sandia Toyota, adds to Group 1’s existing New Mexico portfolio of eight franchises which represents the Lexus, BMW, MINI, Land Rover and Jaguar brands. The dealership is expected to generate $115 million in annual revenues.
LAS VEGAS, Nev. — Cushman & Wakefield announced that Tivoli Village, a 669,406 SF, Class A open-air, mixed-use project with an additional 8.29-acre development site in Las Vegas, has sold for $216 million. Cushman & Wakefield’s Marlene Fujita Winkel in Las Vegas represented the joint ownership of Property and Building Corp. and IDB Group USA in the disposition sale. 3D Investments, LLC acquired the asset.
PHOENIX, Ariz. – Caliber Co’s. sold its share of GC Square Apartments, a 165-unit apartment community in Phoenix for $31.02 million. The multifamily asset was redeveloped by Caliber into a Class A community, converting the tenant demographic from low-income housing to market-rate apartments.
LOS ANGELES, Calif.— Cushman & Wakefield brokered the sale of a ±13-acre site containing a 230,000 SF industrial building with cold storage, food processing and distribution improvements in Commerce, Calif., outside Los Angeles. Penwood Real Estate Investment Management, LLC, based in West Hartford, Conn., acquired the property from Smithway Associates, LLC. Cushman & Wakefield’s Tim Wallace represented the buyer and CBRE’s Art Rasmussen, Ryan Lin and David Norrie represented the seller.
TOMBALL, Texas — Colliers announced the sale of 4.8 acres in Tomball Business and Technology Park on South Persimmon Street in Tomball, The buyer, Ralco Houston Ltd., was represented by Randy Nerren of NewQuest Properties. Tom Condon Jr. of Colliers in The Woodlands, represented the seller, Tomball Economic Development Corporation. Jane Mathews with Stewart Title in Tomball coordinated the closing. Ralco Houston purchased Lot 3 with plans to build a 45,500 SF distribution center for The Billiard Factory in Phase I. The firm has the space to expand an additional 20,250 SF in Phase II.
Tomball Business and Technology Park is a 100-acre master planned and deed-restricted business park just east of the Tomball Tollway along Holderrieth and Hufsmith Kohrville roads. The industrial park features light industrial zoning served with all utilities and easy access to SH 249, FM 2920 and the Grand Parkway.
The property is in Houston’s North Freeway/Tomball Parkway industrial submarket. The submarket contains 38.7 million SF of industrial space, which is currently 94.6 percent occupied. The average asking market rental rate is $8.69 per SF. A total of 466,000 SF of industrial space is currently under construction in the submarket.
April 9, 2022 Realty News Report Copyright 2022
File: RNR Real Estate Briefs
RNR Real Estate Briefs are published by Realty News Report
Photo: By Ralph Bivins Realty News Report Copyright 2022