RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers handled the sale leaseback of Dynamic Glass Industrial Park, a 160,778 SF complex at 9419 Windfern Road and 9320 Zaka Road in Houston. The buyer, Gordon Creekside, was represented by TCI Properties of California. David L. Carter and John Nicholson of Colliers represented the seller. Dynamic Glass executed a 15-year market rent lease upon closing. The property is a 4-building industrial complex on 9 acres with frontage on Windfern Road located in the Highway 290/Tomball Parkway industrial submarket.
SUGAR LAND, Texas — Saladworks has leased 1,800 SF in the new Riverstone Place, a development of Wulfe & Co., located at 18802 University Blvd. in Sugar Land. Saladworks is a made-to-order restaurant specializing in salads, sandwiches, soups and other fare. The Riverstone location is the second restaurant for the Saladworks chain in Texas. The landlord was represented by Kristen Barker of Wulfe & Co.
CYPRESS, Texas – Stonemark is now managing, and will supervise the renovation of, Cantera at Towne Lake Apartments in the Houston suburb of Cypress at 17807 Lakecrest View Drive. The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeast, Texas and Mid-Atlantic. The group includes Atlanta-based Stonemark Equities and Stonemark Management.
HOUSTON — Doc Perrier and Jack Callaghan with Finial Group secured a lease at 500 Century Plaza in Houston. The tenant, Samoco Holdings, LLC, signed a lease at the 5,632 SF office building. The location benefits from its proximity to George Bush Intercontinental Airport, a major attraction for industrial-focused companies throughout the submarket. Brant and Brantly Minor with Discovery Consultant represented the tenant while Finial Group represented the landlord.
AUSTIN, Texas – Transwestern Investment Group is joining forces with Stanmore Partners to develop Stanmore Warner Ranch, a 336-unit multifamily project at 2630 S. A.W. Grimes Blvd. in Round Rock, near Austin.
DALLAS – Younger Partners’ Jerry Averyt and Elaine Xu were awarded the leasing assignment for the 88,000 SF Waterview Plaza at 18325 Waterview Parkway in Dallas.
DALLAS — Drew Crawford and Cole Kenefsky with Finial Group renewed a lease at 1801 Royal Lane, Dallas. Finial Group represented the tenant, Bastian Solutions, LLC. The firm renewed its lease at the 13,000 SF space in Westwood Business Park.
DALLAS – In a much-pursued leasing assignment, T2V Properties selected Bradford Commercial Real Estate Services to lease the Class A Westridge Park, a speculative boutique office project in the Irving/Las Colinas submarket. Dallas-based Bradford was up against several competitors vying for the opportunity to lease the two-phase project on a five-acre tract at 1410 N. Westridge Circle in Las Colinas. Assuming leasing duties is the Bradford team of Richmond Collinsworth, Erik Blais andJared Laake. Phase I is a three-story office building, totaling 34,188 SF that was delivered in December 2019. Permits are in hand for an 88,100 SF second phase. Hoefer Wysocki of Dallas designed Phase I, which was constructed by Arch-Con Corporation’s Dallas team.
NATIONAL – RNR Real Estate Briefs
CHICAGO, Ill. — JLL Income Property Trust acquired 170 Park Ave., 147,000 SF life sciences building in Florham Park, N.J. The property is net-leased on a long-term basis as premier laboratory space and the corporate headquarters for Celularity Inc., a clinical-stage biotechnology company. The purchase price was $47 million. With more than 3,200 life science companies, New Jersey is a major biopharmaceutical and drug development hub within the US.
PINEVILLE, La. – A partnership between Auerbach Funds and Houston-based TCP Realty Services, has recently acquired “The Pines”, a 179,000-SF, 18.8 acre shopping center in Pineville, Louisiana. TCP’s portfolio includes retail centers in Texas and Louisiana and the Spectrum Office Building, 5858 Westheimer in Houston.
CHICAGO, Ill. – JLL Capital Markets announced it has arranged a $153 million refinancing for 123 North Wacker, an amenity-filled, recently repositioned, 550,000 SF office tower in Chicago’s central business district.JLL worked on behalf of the borrower, LaSalle Investment Management’s Income & Growth Fund Series, to secure the five-year, floating-rate bridge loan. The JLL Capital Markets team representing the borrower was led by Keith Largay and Lucas Borges.
MIAMI BEACH, Fla.– Hodges Ward Elliott arranged the sale of the Washington Park Hotel, a 181-room property located at 1050 Washington Avenue in Miami Beach. Built in 1943 and situated four blocks from Ocean Drive, the Washington Park Hotel complex includes five historic Art Deco buildings.
Feb 27, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs
Caption: Dynamic Glass courtesy Colliers