HOUSTON – (RNR Real Estate Briefs) —David Alexander of Newcor Commercial Real Estate represented the seller, NOCNIR, LLC, in the sale of a 21,261 SF office warehouse at 3367 North Sam Houston Parkway West in Houston.
HOUSTON – Pet Supplies Plus has leased 7,500 SF of retail space in Memorial at Kirkwood, located at Memorial Drive and North Kirkwood Road, Houston, from RPI Management. Josh Friedlander and Bob Conwell of NewQuest Properties represented the landlord. Lunden McGill of Baker Katz represented the tenant.
CONROE — Kimberly DeVos of Cypressbrook Company represented the landlord, Fred & Bill, LLC, in the leasing of 3,178 SF of office space at 104 W. Davis St. in downtown Conroe. The tenant, Yollick Law Firm, was represented by Eric Yollick.
BELLAIRE – Xfinity has leased 1,840 SF in Bellaire Town Center. Xfinity is a trade name of Comcast Cable Communications, LLC, used to market consumer cable television, internet, telephone and wireless services. The tenant was represented by Reagan & Associates and Wulfe & Co.
John Hornbuckle of Cypressbrook Company represented the tenant, Leader Publications, in leasing 2,192 SF at 2400 Central Parkway in Houston. Robyn Berry of Evtex represented the landlord, CC Realty Advisors, Ltd.
MISSOURI CITY, Texas – Candy Shack has leased retail space at 6850 Highway 6 in the Fairview Plaza Shopping Center in Missouri City. Jason Gibbons and Jack Gaffney of Finial Group represented the tenant.
Two different Toasted Yolk Café franchisees signed new leases for restaurant spaces in League City and Bellaire. Paul W. Vernon and Campbell Vise of Henry S. Miller Brokerage represented the tenants. In League City, TYC leased 6,110 SF in Pinnacle Park at 2535 Gulf Freeway South. In Bellaire, TYC leased about 4,100 SF of new shell space in the recently rehabilitated Bellaire Town Center, 5103 Bellaire Blvd. The new restaurants are Toasted Yolk Café’s 15thand 16th locations.
L’Art Salon and Beauty Service has leased 3,000 SF of retail space in Shoppes at Grand Crossing, at Interstate 10 and Grand Parkway/TX 99, Katy, Texas, from POG Kosmos 1099 LP. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Joanna Tran of Realty Alliance represented the tenant.
HOUSTON –ZT Motors, the automotive portfolio arm of Houston-based private equity firm ZT Corporate bought Ron Carter Autoland, located south of Houston in Alvin. The location will feature new and used vehicle brands including Chevrolet, Buick, GMC, Ford, Chrysler, Jeep, Dodge and Ram. Taseer Badar, is Chairman and Chief Executive Officer of ZT Corporate.
TEXAS– RNR Real Estate Briefs
AUSTIN, Texas — Maria’s Taco Xpress, a South Lamar Boulevard fixture since 1997, is being sold. The property has gone under contract to sell to an Austin-based investment company. The sale will be finalized in early November. The new ownership entity is working with Britt Morrison and Brett Maze from the Weitzman Group to find the ideal tenant for this location. Bradley Bailey and Adam Rabin, with CBRE in Austin, represented owner Maria Corbalan in the property sale.
SAN ANTONIO – Transwestern Real Estate Services announced it has been selected by Cypress Holdings to provide leasing services for 222 W. Cypress, a 20,656 SF, two-story medical office building in Midtown San Antonio. Transwestern associate James Murry will provide healthcare leasing services on behalf of Cypress Holdings.
FORT WORTH — Walker & Dunlop, Inc. announced it has structured a $17,850,000 Fannie Mae loan for ConstellationRanch, a 324-unit, Class B multifamily property in Fort Worth. Stuart Wernick and Matt Newton led the Walker & Dunlop team in arranging the refinance for Railfield Partners, a long-time client.
CORPUS CHRISTI – Relax Station has leased retail space in Saratoga Town Center, at Saratoga Boulevard and Staples Road, Corpus Christi, from NewQuest Properties. Bob Conwell and David Meyers of NewQuest represented the landlord.
DALLAS — I-20 Industrial, LP purchased 15 acres from HCH Farms, Ltd. for a new development on the LBJ Freeway. HSM Equity Partners , led by Mark Smith Sr., will build a new 15,540-SF facility for OTR Fleet Service. Huntley Luna and Nick Robertson of Henry S. Miller Brokerage brokered the transaction. Tom Clarke with Transwestern represented the seller.
KYLE – Amazon opened a new 300,000-SF sort center in Kyle, south of Austin. This sort center will sort packages before being transferred to a delivery station or last-mile delivery partner for final delivery for customers. The sort center has already created over 1,130 jobs, all paying at least $15 per hour. Job listings at amazon.force.com.
NATIONAL – RNR Real Estate Briefs
NEW HAVEN, Conn. – Hines, the international real estate firm, announced that construction has begun on The Whit Wooster Square, a new apartment community in New Haven. The complex will bring 230 rental apartments and about 5,600 SF of street-level retail to two buildings at 630 Chapel St. in the Wooster Square neighborhood. The community represents Hines’ first multifamily development in Connecticut, adding to its total 18,000-unit portfolio.
INDIANAPOLIS – Lee & Associates completed the $2,100,000 sale of a newly constructed retail building occupied by Bank of America. The 4,050-SF building is located in Greenwood, near Indianapolis. Bank of America’s new 15-year absolute NNN ground lease features 10% rent increases every five years in the primary term and (6) 5-year options., Ryan Barr and Ryan Bennett of Lee & Associates North San Diego County, and Scot Courtney of Lee & Associates Indianapolis represented the seller, SFS Real Estate LLC, and were able to generate multiple offers from all over the country. The buyer, EZ Land Indiana, LLC, represented by Alan Fruitman with 1031Tax.com, Barr & Bennett Net Leased Investment Group, a team within Lee & Associates-North San Diego County, specializes in net leased assets nationwide.
DURANGO, Colo. – JLL closed the sale of Confluence at Three Springs, a 171-unit, garden-style, multi-housing community in Durango. The firm also arranged acquisition financing for the buyer, Denver-based Trailbreak Partners, through Freddie Mac. JLL represented the seller, GF Properties Group, in the sale.
BAKERSFIELD, Calif. – The Mogharebi Group has completed the $22 million sale of Pine Brook Apartments, a 240-unit rental community in California’s Central Valley. Mark Bonas of the Mogharebi Group represented the seller, an owner in Southern California. The buyer was a private capital investor based in Northern California.
ATLANTA, Ga. — Preferred Apartment Communities, Inc. announced it has entered into a purchase and sale agreement to sell its student housing portfolio to TPG Real Estate Partners for $478.7 million. The transaction is expected to close in the fourth quarter of 2020 and is subject to customary closing conditions. The portfolio was marketed for sale by CBRE.
MONTEVALLO, Ala — LGI Homes, Inc., a Houston-based home builder, announced the opening of a new community in the Birmingham, Ala., market, Lexington Parc, offering a variety of newly built homes.
Oct. 3, 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs 2020
Caption: Photo courtesy Patrinely Group. Block 162, Denver