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RNR Real Estate Briefs: HOU, AUS, DAL, SAT – and National

Walker Barnett. Colliers

HOUSTON – (Realty News Report) – Walker Barnett and Ryan Byrd of Colliers International are leasing the new Telge 290 Logistics Center. The 207,635-SF project, 14803 Cypress North Houston Road, was developed in northwest Houston by Archway Properties and Ridgeline Property Group. Architecture by Powers Brown. E.E. Reed was the general contractor.


CBRE has announced the sale of a 170,476 SF distribution center at 730 Genoa Red Bluff Road in Houston. Nathan Wynne and Cape Bell with CBRE represented the seller, Vigavi SEDC, LLC.The buyer of the newly constructed building, Hallmark Floors, was represented by David Buescher and Louis Tomaselli with JLL.


NAI Partners recently arranged an 8,593 SF office lease renewal for Reveal Energy Services at 1500 CityWest Blvd. in Houston. NAI Partners’ Jason Whittington represented the tenant. Scott Fikes of JLL represented the landlord, Bridge Commercial Real Estate.


Matthew Bronstein, vice president of NorthMarq’s Houston office, secured the refinancing of 3322 Richmond Office Building. The 18,000-SF property is located in the Greenway Plaza submarket of Houston. NorthMarq arranged financing for the borrower, M-K-L Properties, through its correspondent relationship with a life insurance company. Dan Lavin is president of M-K-L


Spectrum Lash leased retail space at 5201 Highway 6 in Missouri City. NAI Partners’ Laura Diggs represented the landlord.

Texas

CBRE announced that Freight Dispatch Service Agency, Ltd.,has signed a full building lease at the I-35 Logistics Center, a 131,718 SF spec industrial development in Laredo, Texas. This lease brings the development to 100% occupancy. Groundbreaking for the facility took place in August of 2019 and it was completed in April 2020. Freight Dispatch Service Agency moved in on June 1.Joshua Aguilar with CBRE in San Antonio represented the landlord/owner, Tailwind Real Estate Equities and the developer, Gulf Corporation. Joey Ferguson with NAI Swisher and Martin Realty represented the tenant.


CARROLLTON – Teso Life, a coveted brand for Japanese lifestyle retail, will open its first store outside New York in NewQuest Properties‘ Carrollton Town Center in North Dallas. Teso Life  has signed a long-term lease for 14,236 SF of class A retail space in the 154,835-SF project. Heather Nguyen of NewQuest negotiated.


Newmark Knight Frank (NKF) and E. Smith Advisors (ESA) announced that Istation has renewed the lease at its 50,000 SF headquarters in the landmark high-rise Campbell Centre in Dallas. Emmitt Smith of ESA was instrumental in facilitating the relationship between NKF and Istation, and NKF’s strategic partnership with ESA led to NKF’s John Wolf and Sara Fredericks representing Istation in the renewal. The building is owned by Haberman & Haberman.


Armbrust American has signed a lease for 15,320 SF of office space at 3813 Helios Way in Pflugerville, Texas. Nate Stricklen with CBRE in Austin represented Armbrust American. Andrew Creixell with CSA Management represented the landlord, Pecan 130, LLC.


Newmark Knight Frank announced the sale of The Element at University Park, a 312-bed student housing facility built in two phases in 2000 and 2008. The community is located in Bryan, Texas, near Texas A&M University and was 97% occupied and 85% pre-leased for the fall 2020 semester at the time of sale.


Hentana Construction has signed a lease for 5,394 SF of industrial space at 11222 Disco in San Antonio. Justin Roberts with CBRE in San Antonio represented the landlord, BYCO, Inc.


Cityscape Studios is now leasing office spaces for companies looking to downsize; for employees in need of a work-from-home solution or those in need of an inspiring new space. Located near downtown Fort Worth’s courthouses, government offices, Sundance Square and central business district, Cityscape Studios offers modest spaces where business owners do not have to pay for amenities they do not use. From Charter Investments, these newly constructed office suites feature modern décor with common spaces such as kitchens and breakrooms, ample parking and single-car garages for additional parking or storage.


Marcus & Millichap announced the sale of Angel’s Attica 38,685 SF self-storage facility in San Antonio. Casey Kral and Dave Knobler from Marcus & Millichap’s Houston office had the exclusive listing to market the property on behalf of the seller, a private investor who self-managed the asset and was looking to move into semi-retirement.


Max’s Wine Dive has renewed its 3,063 SF Quarry Village lease at 340 E.  Basse Road in San Antonio. Price Onken with CBRE in San Antonio represented the landlord, Us Reif Artessa San Antonio Texas, LLC.


Three tenants renewed leases for a combined 36,444 SF in the Class-A Two American Center at 821 E. Southeast Loop 323 in Tyler, Texas.  Younger Partners’ Greg Hoffman, in partnership with Patterson Commercial Property Group, represented the landlord in all three transactions. The undisclosed building owner is one of Hoffman’s long-term clients. Among the leases are renewals for New York Life Insurance Company and Healthfirst TPA,as well as an expansion for Tanos Exploration,making it the building’s largest tenant. The 94,017-square-foot center is now 98.4% leased.


Equity Industrial Partners and Raith Capital Partners have broken ground for a new 123,966 SF, Class-A industrial facility at 9541 Joe Rodriguez Drive in El Paso. The designer, Loya Wilke Architects, and contractor, Jacob CM, are locally based in El Paso. Arturo de la Mora and Andrés Sandoval with CBRE in El Paso are representing EIP and Raith in the marketing and leasing of this development.

National

Shopping center giant Simon Property Group, Inc. announced it has exercised its contractual rights to terminate its Feb. 9, 2020 merger agreement with Taubman Centers, Inc. Simon said it also filed an action in the Circuit Court in Oakland County, Mich., against Taubman Centers, Inc.  requesting a declaration that Taubman has suffered a material adverse event under the merger agreement and has breached the covenants in the merger agreement governing the operation of Taubman’s business.


Marcus & Millichap announced the sale of Beneva Oaks, a 40-unit apartment property in Sarasota, Fla. for $3.1 million.


Dot’s Pretzels, LLC, has selected Logistics Park Kansas City in Edgerton, Kansas, for its new manufacturing facility. The snack brand plans to begin operations there later this year, increasing its production capacity to meet increasing national demand. Dot’s purchased the 186,107 SF building at 32180 W. 191st St. as part of a deal with Copaken-Brooks. The new facility will be the firm’s largest manufacturing site. Dot’s is investing $15 million and creating 22 new jobs.


LaTerra Development, a Los Angeles-based developer of urban infill mixed-use properties, announced the formation of a  joint venture with QuadReal Property Group, a global real estate company. The venture will invest up to $250 million in equity to develop and operate multifamily communities in Southern California.


Mohr Capital, a Dallas-based real estate investment firm, has broken ground on a 1 million SF warehouse and distribution facility for Cooper Tires in Whiteland, Ind., within the metro-Indianapolis area.


June 13, 2020 Realty News Report Copyright 2020

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