RNR Real Estate Briefs: HOU, AUS, DAL, SAT, CLT, SMF, LAS, TPA

HOUSTON – (RNR Real Estate Briefs)— Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston represented Roland 5, LLC, in the sale of five acres on Roland Road in Katy. Travis Wallach with Fulshear/Katy Realty Partners, represented the buyer, DI Land Holdings, LLC.

Lee & Associates – Houston represented TSF Tomball, LLC, in the sale of a 68,000 SF industrial property at 19902 Hufsmith-Kohrville Road in Tomball. Patrick Wolford of Lee & Associates – Houston represented the seller.

HOUSTON —NAI Partners recently arranged a 5,030 SF industrial lease for the landlord, Meyao, LLC, at 10801 Brooklet Drive in Houston. Premier Realty Services leased the building. NAI Partners’ Chris Caudill represented the landlord in the transaction. Premier Realty Services installs, removes and transports realty signage, handles supra/lockbox storage and the placement and videography primarily focused on the residential real estate market.

Ehrlich & Associates Medical Clinic has leased 6,572 SF at the Kirby Oaks Shopping Center at 2535 Kirby in Houston. L. Ehrlich & Associates is an internal medical practice serving the Greater Houston area for the past 19 years. The tenant was represented by Elise Weatherall of Wulfe & Co.

Weitzman has been named exclusive leasing agent for two specialty retail projects in Houston’s Inner Loop. The centers are at 550 Heights Boulevard near White Oak Drive, and 2027 S. Shepherd Drive, Walker Kane and Andrew Phelan with Weitzman handle leasing.

Idea Public Schools executed a 22,000 SF lease at Beltway Industrial market in Houston’s Northwest Corridor Industrial market. CMI’s Trent Vacek represented the landlord, Blum Beltway, LP, in the transaction. Idea Public Schools recently expanded into the Houston market with two locations and a third site under construction.

World Finance Corporation leased retail space at 10404 Gulf Freeway in Houston. Jason Gibbons of Finial Group represented the tenant. Mayur Shah with Matador Realty Group represented the landlord.

HOUSTON – Core Park Row Place, Ltd. has awarded the property management rights for Park Row Place, 17900 Park Row, to Central Management, Inc.

Gary Triplett of CMI Brokerage handled several leases at the Glenroyal Warehouse Park in Houston. Tenants include: Shannon O’Brien, Nichols Next Generation Remodeling, Wilsa, Inc., Rainbow Contractors, B.L. Brannan and Designer Concepts.

Texas

DALLAS – The organization, 1000Bulbs.com, has leased 203,040 SF in Urban District 30, a business park being developed by Urban Logistics Realty. Stream Realty Partners’ Blake Kendrick and Seth Koschak represented the tenant and Stream’s Matt Dornakand DrewF eagin represented Urban Logistics Realty.

AUSTIN – Patton Jones, vice chairman of Newmark Knight Frank, handled the sale of the (1) 528-unit Regency Park in south Austin and (2) Travis at the Lake, a 312-unit multifamily community in west Austin. Combined, these transactions represent over $250 million in dispositions and financing. Greystar acquired Regency Park. San Antonio-based Kairoi Residential was the seller of Travis at the Lake. Both dispositions were financed by Matt Greer, Executive Managing Director in NKF’s Multifamily Capital Markets Debt and Structured Finance group in Austin.

SAN ANTONIO – Provident Realty Advisors of Dallas is redeveloping the old Friedrich air conditioner plant site on East Commerce Street. A 347-unit, $68 million project called Friedrich Lofts will be built. The city’s San Antonio Housing Trust Public Facility Corp. is involved.

AUSTIN – Pearlstone has started the 113-unit Cascade Condominiums development at the intersection of 25^th Street and Longview Street in historic Old West Austin.Design is by Mark Hart Architecture and the general contractor is Bartlett Cocke. Jason Botello of Prospect Real Estate, is the lead sales agent for the project, and presales will begin in October with prices ranging from $280,000 to $635,000. Two commercial units are also for sale.

TIOGA, Texas – SVM Estates acquired 67.7 acres on the west side of Highway 377, north of Shawnee Drive in Tioga, about 60 miles north of Dallas. Younger Partners’ Ben McCutchin represented the seller, Gene McCutchin, in the sale. The land, which is currently grazing pasture acreage, will be held for future investment. The land is adjacent to the new Tioga High School.

DALLAS – GroundFloor Development, led by Brandon Bolin, has launched the Kessler West residential project in North Oak Cliff. It will include 20 modern townhomes and a 28-unit boutique podium midrise.Financing for the project is being provided by Bank OZK, who is providing a construction loan, with mezzanine financing by Civitas Capital’s Grow South Fund, and the investment partner for the project is Liont LLC, led by Matt Martorello. Home sales are handled by Al Coker & Associates.

DALLAS – Coca-Cola Southwest Beverages, a company of Arca Continental, has signed a lease at Two Lincoln Centre, an office campus is owned by Nuveen Real Estate, the investment manager of TIAA. Matthew Schendle and Clint Madison of Cushman & Wakefield represented Nuveen. Conor McCarthy and Greg Biggs of JLL represented the tenant.

DALLAS – Dll Asbestos Trust has leased 8,521 SF of office space in Merit Tower, 12222 Merit Drive, Dallas, from LLL Four Forest, LLC. Jared Laake, vice president of Bradford Commercial Real Estate Services, represented the landlord. Brenda Ridnour of Pickens Ridnour LP represented the tenant.

PLANO – Central Management, Inc. has been engaged by Brajevich Family Partnership, LP, as property manager and leasing agent for a 11,539 SF of retail property at 2201 McDermott Road in Plano. Representing CMI was Jan Echard, vice president.

DALLAS – TRUE Space Inc. has leased 1,120 SF of office space in Merit Tower, 12222 Merit Drive, Dallas, from LLL Four Forest, LLC. Jared Laake, vice president of Bradford Commercial Real Estate Services, represented the landlord. Gary Krajecki of Palmer House Properties represented the tenant.

AUSTIN – Ten Eyck Landscape Architects Inc. (TELA) announced its integration of Ecosystem Design Group (EDG) within the firm.

National

CHARLOTTE, N.C.– Stonebridge Investments acquired the 264-unit Magnolia Terrace apartments in the UNC Charlotte/University Citysubmarket. JLL Capital Markets represented Stonebridge Investments to secure $32.45 million acquisition loan through Freddie Mac. Will Bateman is with StoneBridge Investments. The JLL Capital Markets team representing the borrower was led by Elliott Throne, Cory Fowler and Amit Kakar.

LAKELAND, Fla. – JLL Capital Markets arranged $45 million in refinancing on behalf of Covenant Capital Group for The Retreat, a 464-unit multi-housing in Lakeland, Florida. The JLL Capital Markets team representing the borrower was led by Elliott Throne, Campbell Roche, Amit Kakar and Drew Jennewein.

SACRAMENTO, Calif.— A Graceada Partners fund bought the 148-unit Westlake Apartments near downtown Sacramento for $23.5 million.

LAS VEGAS, Nevada —CBRE, the commercial real estate firm, will move its Las Vegas office to UnCommons, a $400 million, 40-acre mixed-use development in early 2022. Established by Matter Real Estate Group and designed by architectural firm, Gensler, UnCommons wiill be locted at Durango Drive and the 215 Beltway. CBRE, a Fortune 500 and S&P 500 company, will occupy nearly 20,000 SF encompassing an entire floor of one of UnCommons’ five office buildings. “The landlord’s commitment to health and safety helped solidify our decision to move our Las Vegas office to UnCommons,” said Pete Schippits, president of CBRE’s Mountain-Northwest Division. “The sustainability and wellness features at UnCommons align with our workplace priorities while the design, walkable site, amenities and outdoor spaces provide the type of environment in which our clients and employees can thrive.” UnCommons is the first development in Nevada to be constructed with WELL Building Standards and one of the first in the nation to be built to standards set by the new WELL v2 pilot, the first rating system to focus exclusively on the impacts of buildings on human health and wellness.