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

RNR Real Estate Briefs from Realty News Report

HOUSTON — Lee & Associates – Houston represented Lake Davidson Village, LLC, in the sale of an 88,000 SF manufacturing building on 6.25 fenced and gated acres at 701 Plastics Ave. in Houston. C.E. “Trey” Erwin III of Lee & Associates – Houston represented the seller.

HOUSTON – John Hornbuckle of Cypressbrook Company and Rick Hazard of Realty Services Group represented the seller, Ameridge Properties, LP, in the sale of a 28,100 SF office building at 3334 Richmond Ave., Houston. The buyer was Radom Capitol, LLC.

HOUSTON– Cushman & Wakefield arranged the sale of Windwater at Windmill Lakes, a 150-unit multifamily community in the Hobby submarket of Houston. Cushman & Wakefield’s John Carr and Ben Fuller represented the seller, Southern Breeze, LLC, an organization led by Ronald and Sylvia Reine. The Equity, Debt & Structured Finance team at Cushman & Wakefield also arranged financing on behalf of the buyer, The Bascom Group.

HOUSTON – Half Price Books has leased 6,386 SF in the Westchase Shopping Center at 10915 Westheimer in Houston. The store buys and resells books, movies, CDs, textbooks, records and other media. The landlord was represented by Christi Davis Vinzant of Kimco Realty and the tenant was represented by Katherine Wildman and Bunny McLeod of Wulfe & Co.

HUMBLE, Texas — Kimberly DeVos of Cypressbrook Company represented the seller, New Beginnings Investments, LLC, in the sale of a 9,541 SF retail building at 14707 Eastex Freeway in Humble. The buyer, EastexHumble Property, LLC, was represented by John Varghese with Prompt Realty and Mortgage, Inc.

HOUSTON – George Montes of Cypressbrook Company represented the tenant, Redzone Training Center, LLC, in the leasing of a 9,360 SF gym space at 6560 FM 1960. Nancy Golden of Beeson Properties represented the landlord, KNA Partners.

KATY, Texas — InStyle Fashion Resale has leased 1,800 SF in the Mason Village Shopping Center at 354 South Mason Road in Katy. The shop is a family-owned boutique selling gently used women and men’s high-end apparel. The landlord was represented by Wes Miller and Kristen Barker of Wulfe & Co.

THE WOODLANDS, Texas — Greg Usher of Cypressbrook Company represented the landlord, Vista Woodlands Partners, Ltd., in the leasing of 4,570 SF of flex/office space at 3200-3400 Research Forest Drive in The Woodlands. The tenant, inGRIT, LLC, was represented by Elena Bakina with Colliers.

TEXAS — RNR Real Estate Briefs from Realty News Report

PLANO, Texas – Newmark announced the sale of Lincoln Legacy Two, a recently renovated, 130,371 SF office property in Dallas/Fort Worth’s Legacy submarket. Newmark’s Chris Murphy, Robert Hill,Gary Carr and Chase Tagen represented the seller, a partnership including Dallas-based Pillar Commercial. Newmark’s Josh Francis facilitated the financing for the buyer, Larson Capital Management. Located at the Dallas North Tollway and Tennyson Parkway in Plano, Lincoln Legacy Two is adjacent to Legacy Town Center and The Shops at Legacy.

HOUSTON — Jason Gibbons with Finial Group renewed a lease for Suite 115 at 14505 Torrey Chase Blvd. in Houston. The tenant, Progressive Leasing, LLC, provides simple and affordable purchase options for credit challenged consumers. Finial Group represented the landlord, 14505 Torrey Chase, LLC.

IRVING, Texas – TruAmerica Multifamily has built its portfolio in Texas to nearly 3,000 units in less than 18 months with the acquisition of Rancho Mirage, a 310-apartment community at 1200 Hidden Ridge in Irving. Rancho Mirage is TruAmerica’s ninth investment in Texas and its fourth in the Dallas/Fort Worth Metroplex since the Los Angeles-based multifamily investment firm established a Dallas regional headquarters in 2020.

AUSTIN — NAI Partners recently arranged the sale of 2.63 acres of land at 8216 Burleson Road in Austin. NAI Partners’ Todd Mahler represented the seller Mary Joan Beckwith.

DALLAS – Transwestern Real Estate Services announced that Long View Equity has purchased 15150 Preston Road and 6009 and 6029 Belt Line Road, a three-building, 111,286 SF office complex in Dallas. Transwestern’s Steve Simon, Steve Rowland and Chris Lipscomb represented the seller, Reserve Capital Partners. The complex sits on nearly six acres of heavily landscaped land at the northeast corner of Preston and Beltline roads in North Dallas.

FORT WORTH — The Woodmont Company, a national real estate firm, along with Dennett Construction, has begun building a three story, 41,217 SF medical office structure at 6850 Harris Parkway in Fort Worth. The Diabetic and Thyroid Center of Fort Worth will occupy 14,000 SF with 25,000 SF available for lease. An additional pad site is also available for development and lease. Completion is scheduled for January 2023.

AUSTIN – NAI Partners arranged the sale of 87.5 acres at 10300 Springdale Road in Austin.
NAI Partners’ Tyler Jaynes, Ryan McCullough, and Gary Hebert represented the seller.

NATIONAL — RNR Real Estate Briefs from Realty News Report

PORTLAND, Ore. – Cushman & Wakefield announced the firm served as exclusive advisor to an affiliate of Security Properties in the $71 million refinancing of Peloton Apartments, a three-building, 265-unit Class A multifamily community built in 2018 in Portland, Ore. The building name – Peloton – means a group of bike riders, paying homage to the neighborhood’s popular bike culture. The loan was provided by Hangang Asset Management on behalf of Woori Bank & KEB Hana Bank. A Cushman & Wakefield Equity, Debt & Structured Finance team of Dave Karson, Chris Moyer, Alex Lapidus and Meredith Donovan represented Security Properties in the transaction.

ATLANTA, Ga. – Westmount Realty Capital announced the purchase of an office flex building in Marietta, Ga., just outside of Atlanta’s major metro area. Marietta Technology Center is an 85,685 SF, single-story office /flex property at 2121 Newmarket Parkway SE. This purchase marks Westmount’s fifth acquisition over the past six months in the Atlanta market and follows the firm’s February acquisition of Atlanta Plaza 85, another industrial infill portfolio comprised of nine flex/light industrial buildings spanning 191,526 SF in Atlanta’s Norcross submarket.

PHOENIX – Transwestern Development Co. handled the sale of Lydian, a 209-unit multifamily community at 1314 N. 3^rd St. in Phoenix, Arizona. Knightvest Capital acquired the property for $66 million, or $313,400 per unit.