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

RNR Real Estate Briefs from Realty News Report  HOUSTON — Lee & Associates – Houston and Griffin Partners  reported leasing more than 30,000 SF of office space at 520 Post Oak Blvd., an eight-story, recently renovated boutique building. Jill Nesloney, Robert LaCoure, Chris Lewis and Bryce Adams represented the landlord, Griffin Partners. Christina Bean of Griffin Partners manages the asset.

Nesloney reported “a recent uptick in businesses looking to find move-in-ready office spaces now that many companies are resuming more normal operations post-pandemic.”

Deals at 520 Post Oak Blvd.  included:

  • Decisio Health – 13,159 SF
  • Genesis Park – 5,610 SF
  • Main Street Commercial Partners – 3,680 SF
  • Auric Engineers – 2,568 SF
  • Town Square Mortgage – 2,215 SF
  • Benefits & Care Insurance Brokers – 1,826 SF
  • Convergent Science – 1,640 SF

HOUSTON – Cushman & Wakefield represented Hedmark, III, LP in the sale of 17240 SH-249 in Northwest Houston. The property, formerly a Sweet Tomatoes restaurant location on 1.7 acres in the Willowbrook area.Eric H. Lestin and Michael Burgower of Cushman & Wakefield represented the seller. Jack Burgher of BCS Capital represented the buyer.

BELLAIRE – Lankford’s restaurant signed a 3,200 SF lease in 5200 Bissonnet Center located at 5200 Bissonnet Street in Bellaire. Lankford’s started in the 1930s when it was converted from an old garage in Montrose to a place serving authentic American burgers. The landlord, Sion and Michael Saghian, was represented by Emily Durham and Megan Lahti of Waterman Steele. Hannah Tosch and Wade Greene of Colliers represented the tenant.

HOUSTON — Magma Equities acquired a portfolio of 1,361 multifamily units from Hilltop Residential in several high-growth Texas markets, including Dallas/Fort Worth, Houston and San Antonio. To accommodate its planned growth in Texas, the firm has established a regional headquarters in Dallas under the direction of partner Tom Short.

KATY, Texas Berkadia arranged the sale of Boardwalk Lofts, a 319-unit, multifamily community in Katy. Jeffrey Skipworth, Kyle Whitney, Joey Rippel, Chris Young, Chris Curry  andTodd Marix of Berkadia Houston represented the seller, an affiliate of Sueba USA Companies. Built in 2021 and located at 122 Lakeview, Boardwalk Lofts offers units ranging from 520 to 1,914 SF.

HOUSTON — Method Architecture, a Houston-based architecture and interior design firm, announced the addition of two new owners. Jackie Rye and Melissa Pasche have joined the firm’s shareholder group, bringing the total to five.

RICHMOND, Texas — Telfair Spices leased 6,650 SF of retail space in the Grand at Aliana, near the Grand Parkway in Richmond from NewQuest Properties. Josh Friedlander  andDavid Meyers  of NewQuest Properties represented the landlord.

HOUSTON – Red Dawn LLC bought 1.6 acres at 6526 Louetta from PS Spring City RE LLC. Usman Mohammad of Realm Real Estate Professionals represented the buyer. David M. Boyd of Boyd Commercial/CORFAC International represented the seller. 

TEXAS — RNR Real Estate Briefs from Realty News Report

COLLEGE STATION, Texas – Levcor, a Houston firm led by Larry Levine, acquired two retail centers in College Station: Texas Avenue Crossing, an 87,000 SF center anchored by Bed Bath & Beyond at 1416 Texas Ave. South and University Park, a 97,000 SF center at 601 University Drive.

ROUND ROCK, Texas – BH Properties,  a Los Angeles-based real estate investment company, has acquired Round Rock Crossing, a 245,592 SF strip retail center in the Round Rock suburb of Austin. Round Rock Crossing is currently 52 percent occupied by 18 tenants, including Best Buy, Michael’s and Dollar Tree. Mart Martindale and Brandon Beeson with Edge Realty Partners represented the undisclosed seller. Scott Henry is BH Properties’ managing director of acquisitions in Dallas.

CELINA, Texas – Centurion American   Development Group will host a groundbreaking April 26 for its new 3,200-acre Legacy Hills project in Celina. It will include 6,850 single-family homes, 4,100 multifamily units, an 18-hole golf course and 100 acres of commercial property.

AUSTIN – Harbor Custom Development,  an upscale home building firm based in Tacoma, Wash., has entered the Texas market. Harbor secured 208 lots in the Austin area where it will build homes priced from $900,000 to $2 million.

SAN ANTONIO – NAI Partners arranged an 8,331 SF office lease renewal for America Fujikura Ltd. at Renaissance Plaza, 70 NE Loop 410 in San Antonio. NAI Partners’ Graham Peavey and Clare Flesher represented the tenant.

FORT WORTH – Innovative Business Services, LLC, has renewed its lease for 20,385 SF of warehouse space in Railhead Business Station, 800 Railhead Road in Fort Worth. Nick Talley of Bradford Commercial Real Estate Services  represented the landlord, Sun Life Assurance Co. of Canada. Jay Benner of Cushman & Wakefield of Texas represented the tenant.

ALLEN, Texas – JLL arranged the sale of and acquisition loan for Watters Creek at Montgomery Farm, a 458,091 SF, premier, open-air, mixed-use, grocery-anchored retail and office destination, part of the Watters Creek development within the Dallas/Fort Worth community of Allen.  JLL represented the seller, a partnership between PCCP, LLC, and Trademark Property Company. A partnership comprising Dallas-based Charter Holdings  and DuWest Realty acquired the asset and engaged JLL to source the acquisition loan on its behalf.

SAN ANTONIO — Embrey, a San Antonio-based multifamily firm, announced the closing of Embrey Horizontal Living Fund I, a $160 million discretionary equity fund to support the development of a portfolio of build-to-rent projects, an emerging concept in the multifamily industry.

NATIONAL —RNR Real Estate Briefs from Realty News Report

CHICAGO, Ill. — JLL’s Healthcare Capital Markets group closed the $600 million sale of a 27-property healthcare portfolio totaling 1.2 million SF in Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas. JLL marketed the portfolio on behalf of the seller, Harrison Street. NorthWest Healthcare Properties acquired the assets. The portfolio is 97 percent occupied by healthcare providers, including Advocate Aurora Health, Rush University Medical Center, Memorial Hermann, Ascension, Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and Edward-Elmhurst Healthcare.

AURORA, Colo. — Olympia Hotel Management has been chosen to operate The Benson Hotel and Faculty Club, a new boutique hotel developed by the Denver-based Aimcoin the heart of the University of Colorado Anschutz Medical Campus in Aurora.

HAWAII – Private residential club Kohanaiki has announced its most expensive sale to date at $20,600,000, setting a record at Kohanaiki and topping the area as one of the priciest sales on the Kona Coast of Hawaii. The property is a 6,755 SF, five-bedroom, 5.5 bath estate, Kahakai 25, on a coveted front-row parcel surrounded by ocean views.

MINNEAPOLIS, Minn. – Transwestern Real Estate Services  announced its Midwest Capital Markets team brokered the sale of Hiawatha Suites, a senior assisted living and memory care facility at 4140 Dight Ave. South in Minneapolis.

April 23, 2022 Realty News Report Copyright 2022

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