RNR Real Estate Briefs from Realty News Report– KATY – Colliers International announced the sale of Cinco-Westheimer Parkway Plaza located on 1.6 acres at 20680 Westheimer Parkway. The 17,500 SF retail plaza was purchased by DAV Entrepreneurs, who was represented by Diamond Adatia of Epic Realty, LLC. Jenny Seckinger and Ace Schlameus of Colliers International represented the seller, Hass Holdings. The center is located in the Far Katy South retail submarket consisting of 18.2 million SF within 867 buildings and is 94% occupied.
HOUSTON — National Storage Affiliates Trust has purchased a 14-property, 8,517-unit self-storage portfolio consisting of six properties in and around Houston; three in the Austin MSA, two in the Minneapolis-St. Paul markets and one each in Dallas, San Antonio and St. Louis. JLL’s Steve Mellon, Brian Somoza, David Berglund and Blaise Tomazic represented the seller, The Jenkins Organization.
STAFFORD, Texas – Edge Capital Markets brokered the sale of a freestanding building fully leased to AT&T and located at 12499 Southwest Freeway in Stafford, Texas. Chace Henke and Ryan Holliday of Edge represented the seller. The property is a newly constructed, 2,500 SF retail building included in Phase II of a 192-acre, $500 million mixed-use development which, at build-out, will include more than 350,000 SF of retail, restaurants, and entertainment, as well as 500,000 SF of office, multiple hotels and 2,400 apartments.
HOUSTON – Patrinely Group, LLC, managing member of a joint venture with USAA Real Estate and CDC Houston which is developing CityPlace, announced that JLL has been selected as the new retail leasing agent for the development. City Place is scheduled to be a 60-acre, mixed-use urban district in Springwoods Village at Interstate 45, the Grand Parkway and the Hardy Toll Road. JLL’s Rip Reynolds is leading the leasing efforts.
HOUSTON — Transwestern Real Estate Services announces it has been engaged by Younan Properties Inc. to provide leasing services for Two Westlake, a 17-story, 454,843 SF building at 580 Westlake Park Blvd. in Houston’s Energy Corridor submarket. Michelle Wogan, Evelyn Ward and Paula Musa will represent the building owner, Younan Properties, in leasing efforts.
HOUSTON –NAI Partners recently arranged a 3,525 SF office lease for McMillan Law Firm at 1010 Lamar St. in downtown Houston. NAI’s John Zivley represented the tenant.
HOUSTON – Van Leeuwen Ice Cream has leased space in Montrose Collective, a mixed-use project under development by Radom Capital in the 800 block of Westheimer near Montrose Boulevard. Retail leasing is being handled by Shop Companies and office space is being marketed by CBRE. Van Leeuwen was represented in the lease negotiation by Jason Kastner of Dochter & Alexander Retail Advisors and Zac Hoffer of The Retail Connection.
MONTGOMERY, Texas — Construction is now complete on Phase I of the new Woodforest Professional Plaza at 750 Fish Creek Thoroughfare in Montgomery, Texas. The plaza will be comprised of three buildings totaling 100,000 SF of professional office and medical space. Phase I – Woodforest Medical Plaza 1 – is a 50,481 SF, two-story medical and professional office building located on more than four acres. The building was developed by CMK Properties. Leasing is by Lisa Hughes and Pamela Sprouse of J. Beard Real Estate Co.
HOUSTON — OVME, a medical aesthetic studio that delivers minimally invasive cosmetic services, has opened at Centre at River Oaks, 3021 Kirby Drive.
HOUSTON — Jack Gaffney and Chase Tucker with Finial Group secured a lease at Lakes of Riata, 10750 Barker Cypress Road in Northwest Houston. Finial Group represented the landlord which is a Finial Group entity. The tenant, Tacarbon, signed a long-term lease at the retail center.
TAYLOR, Texas – The new RCR Taylor Logistics Park has dual rail service from Union Pacific and BNSF Railroads, according to McAlister Assets and RCR Rail Co. The 755-acre site is located in the City of Taylor in Williamson County, near Austin.
SAN ANTONIO, Texas — Partners Capital— the investment arm of NAI Partners— announced it has sold Marymont Office Park, an office property in San Antonio. Partners Capital’s Fund I originally acquired Marymont in 2017. The 85,368 SF, four-building, one-story office park is located in Northeast San Antonio adjacent to NE Loop 410. Partners Capital was represented by Carrie Caesar of Cushman & Wakefield. The buyer was Citadel Venture Holdings of Houston.
AUSTIN, Texas — JEM Holdings, a New York-based real estate investment company, acquired The Monroe, a 223-unit, new-build multifamily project in Austin, near the East Riverside Corridor. John Carr and Ben Fuller of Cushman & Wakefield represented JEM. Newmark’s Patton Jones represented the seller, Dallas-based Stillwater Capital.
CORSICANA, Texas — NAI Partners has announced that its Landlord Services Division was awarded the property management assignment for the 1,453,615 SF Dart Interests-owned 2200 South Business 45 industrial distribution center in Corsicana, Texas. NAI Partners also leases and manages Dart Interests’ Republic Square, a 324,000 SF office building in Houston’s Energy Corridor.
NEW BRAUNFELS, Texas — Transwestern Real Estate Servicesannounced the sale of 1763 Medical Way, a single-story medical office building totaling 8,055 SF in New Braunfels. Transwestern’s ‘Licia Shreves and James Murry represented the seller, APZ Investments, LLC.
DALLAS, Texas – Landlord JLL Income Property Trust announced a 10-year lease extension with Kroger, a national grocery chain anchor tenant at Oak Grove Plaza in Sachse, Texas, a suburb of Dallas. The 65,000 SF lease, originally set to expire in 2023, was renewed through 2033.
IRVING, Texas – Sequin Court Plaza LP, a San Antonio-based investment group, has acquired the 65,460 SF Story Business Center in the Las Colinas submarket in Irving. The seller is Americo Story, LP, which owned the complex for about three years. Jason Finch and Michael W. Spain of Dallas-based Bradford Commercial Real Estate Services represented the buyer.
PHOENIX, Ariz. –JLL Capital Markets announced it has completed the $103.5 million sale and $80.76 million financing for Anchor Centre, a 333,014 SF, Class A office asset in Phoenix. The sale marks the largest multi-tenant office deal to trade in Phoenix since the JLL-brokered sale of Biltmore Center in December 2019. JLL represented the seller, KBS, and procured the buyer, TerraCap Management, LLC. Additionally, JLL placed the floating-rate acquisition loan through a financing subsidiary of Colony Credit Real Estate.
Jan 23, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: Cinco-Westheimer Parkway Plaza. Image Courtesy: Colliers International