RNR Real Estate Briefs – HOU, DAL, AUS, SAT – and more

RNR Real Estate Briefs from Realty News Report – HOUSTON – AZ Partsmaster, a supplier of maintenance parts for multifamily operators, leased 68,342 SF in Waypoint Business Park l at 411 Cravens Road in Missouri City, Texas. The landlord, 4M Investments and Clarion Partners, was represented by Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream RealtyPayson MacWilliamJon Lindenberger and Paul Dominique of Colliers represented the tenant.

HOUSTON — Ike’s Love & Sandwiches has leased 1,400 SF of retail space in The Village at 2518A Rice Blvd. from RPI Management. Josh Friedlande rand Bob Conwell of NewQuest Properties represented the landlord. Lunden McGill and John Frazier of Baker Katz represented the tenant.

HOUSTON – Houston Metropolitan Dance leased 8,010 SF at the Museum Plaza Building, 4916 Main St. in the South Main/Medical Center submarket. Kurt Kistler and Kevin Nolan with Moody Rambin represented the building owner, Kozadinos Interests, LTD

HOUSTON– Avison Young has negotiated the sale of 10.62 acres at 11514 Trickey Road in Houston. A majority will be developed as a 44-home, single-family, for-rent community.  Avison Young’s Tommy LeBlanc and John-Michael Kamel in the firm’s Houston office represented the seller, Alpha Neutronic.

BAYTOWN – Eggcellence Café leased 2,335 SF in the Baytown Marketplace Shopping Center in Baytown, Texas, and will open their ninth Houston-area location in early 2021.  The tenant was represented by Katherine Wildman of Wulfe & Co.

SPRING, Texas – George Montes of Cypressbrook Company represented the tenant, ABG Resources, Inc., d/b/a Mycot Style, in the leasing of 6,442 SF of office/warehouse space at 25275 Budde Road in Spring. Michael Blount of Panoptic Realty Group represented the landlord, Lone Star C & L Investments, LLC.

HOUSTON IronRod Steel, LLC, leased 9,500 SF at 8122 Hillsboro St. in East Houston. Lawton Anderson with Moody Rambin represented the tenant in negotiations. Clay Pritchett and Zane Carman with NAI Partners represented the building owner.

THE HEIGHTS – Transwestern has announced that Al Quick Stop has signed a 700 SF lease on West 11th Street in The Heights where it will open its second location. Transwestern’s Paula Musa represented eatery, which opened its first location in Montrose in 1991. The landlord, RE: VIVE, was represented by Monica Danna of RE: VIVE Development.

HOUSTON — SquareFoot, a commercial real estate company, has announced its expansion into the Houston commercial real estate market with the hiring of veteran broker, Sam Pouns. Over the past decade, since its founding, SquareFoot has served clients in dozens of major U.S. cities based out of its New York City headquarters. Pouns joins from Fritsche Anderson company.

HOUSTON — SCOR Reinsurance Company leased 5,805 SF at Town Centre One, 750 Town & Country Blvd. in West Houston. Bob Cromwell and Kevin Nolan with Moody Rambin represented the building owner, Moody Rambin, during negotiations. David Husid and Merrill Roth with Newmark Knight Frank represented SCOR Reinsurance Company. In addition, USP Houston leased 4,049 SF at Town Centre One. Nelson Udstuen with CBRE represented USP Houston.

THE WOODLANDS – Greg Usher of Cypressbrook Company represented the landlord, Vista Woodlands Partners, LTD, in the leasing of 4,933 SF of flex-office space at 8701 New Trails in The Woodlands. George Montes of Cypressbrook Company represented the tenant, Hopkins Centrich Winkelman & Drucker.

PEARLAND – Corbet K. Eillson, DDS, leased 4,187 SF at the Shadow Creek Business Center I at 11233 Shadow Creek Parkway near Highway 288in Pearland. Kurt Kistler and Kevin Nolan with Moody Rambin represented the building owner, ZT Shadow Creek Partners during negotiations. Sewell Legal Practice, PC represented the tenant.

CONROE, Texas – Kimberly DeVos of Cypressbrook Company acted as intermediary between the tenant, Farmers Insurance, and the landlord, Teas Capital Partners, LLC, in the leasing of 3,000 SF of office space at 2912 W. Davis in Conroe.

HOUSTON – Rice Village announced the addition of its newest retail tenant, The Lovesac Company, a home furnishing brand known for its “Sactionals – The World’s Most Adaptable Couch.” The new showroom will be at 2510 University Blvd.  Burdette Huffman of  The Blue Ox Group represented Rice Village.

KATY, Texas – Scholars and Scoundrels has leased 6,200 SF of retail space in Boardwalk Crossing at Kingsland Boulevard and AMC Drive, Katy, from Boardwalk Crossing, LLC.Bob Conwell of  NewQuest Properties represented the landlord. Jeff Goldberg of Gold Key Partners represented the tenant.

THE WOODLANDS – Patricia Chesser of Cypressbrook Company represented the landlord, Woodmark Capital, LP, in the leasing of office space at 1776 Woodstead Court, The Woodlands. Nick Terry of Rifle Real Estate Company represented the tenant, AJW Capital, Inc.

HOUSTON – McGowen Investments, LLC, has sold a 0.78-acre ground lease, housing a 3,164 SF Wendy’s restaurant, at 13334 Tomball Parkway, Houston, to Fulu, LLC. Chris Dray, David Luther and Rick Ragan of NewQuest Properties represented the seller. Gloria Chiu of The Real Estate Experts represented the buyer.

DICKINSON, Texas – JC Educational Services leased retail space in Dickinson Village, 3410 Gulf Freeway, Dickinson, from Revesco (USA) Properties of Dickinson, LLC. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord. Lyle Cowand of Resolut RE represented the tenant.

HOUSTON — Chase Tucker and John Buckley with Finial Group arranged an office lease at 2401 Fountain View Drive in Houston.  The tenant is Cook Law Firm Group.

 TEXAS – RNR Real Estate Briefs

DALLAS – Harwood International has broken ground on a 27-story, 360,000-SF office tower on Harry Hines Blvd., reports Steve Brown of the Dallas Morning News.  The Haynes & Boone law firm has leased 125,000 SF.

DALLAS – CBRE announced that Sunrise Wood Designs, LLC, a fine cabinetry supplier for luxury and volume homebuilders in North Texas, has enlarged its facility in South Dallas with a lease expansion to 167,405 SF. Baron Aldrine and Michael Chiocca with CBRE represented the firm in lease negotiations. Sunrise Wood Designs is expanding its South Dallas headquarters at 8801 Autobahn Drive to accommodate rapid growth in its business.

AUSTIN – A JV of Intracorp and Resmark Cos. will develop a 106-unit One Oak mixed-use condo project in the Bouldin Creek neighborhood on South First street. The site was acquired from Rastegar Property Co. , which will retain an interest.

SAN ANTONIO – Berkadia  arranged the sale of Echelon at Monterrey Vista, a 240-unit multifamily community in San Antonio. Managing Director Mike Miller, Senior Director Will Caruth and Director Cody Courtney of Berkadia’s San Antonio office secured the sale on behalf of the seller, The Garrett Companies, developer based in Greenwood, Indiana

IRVING, Texas – Newmark arranged financing of Marbletree Apartments, a 416-unit project at 4057 North Belt Line Road. The property is 98% occupied. Newmark’s Jakob Andersen and Brian O’Boyle, Jr. represented the seller, LumaCorp, Inc. The buyer is a privately held real estate investment company, GoodLife Housing Partners. Financing was provided by Ready Capital and placed by Newmark’s Deverick Jordan and William Hairston.

ARLINGTON, Texas – SkyWalker Property Partners, acting on behalf of one of its funds, sold a dormant property in the Arlington Entertainment District to the city for a police substation, evidence storage and crime lab facility. The 41,680 SF structure, developed in 1984, is located on five acres at 1715 E. Lamar Blvd. SkyWalker acquired the project, vacant at the time, seven years ago from a Dubai investor.

DALLAS – Bobby Wayne Doyal of Burnet, Texas, has sold a 1.2-acre site at 2630 North I-35E, to Virani Service Group, LLC.  Jason Finch and Brian Pafford of Dallas-based Bradford Commercial Real Estate Services represented the seller.

NATIONAL – RNR Real Estate Briefs

LAKE WORTH BEACH, Fla. — Alliance 7233 Seacrest, LLC, acquired the former Sam’s Club in Lake Worth Beach, Fla., for $17 million. The buyer is an affiliate of Pennsylvania-based Alliance Partners. HSP Bruner Group of Delray Beach, Fla. arranged the sale of the 135,268 SF warehouse on 15.8 acres at 7233 Seacrest Blvd.

TAMPA, Fla. — Caleb Walsh announced he has contracted to purchase St. Moritz, a collection of two-bedroom townhomes near the coast in the Tampa region. Walsh is director of the Urban Bay Housing Fund.

LAS VEGAS, Nev. — Las Vegas Sands Corp. agreed to sell its  The Venetian Resort Las Vegas and the Sands Expo and Convention Center for an aggregate purchase price of $6.25 billion. Affiliates of Apollo Global Management will acquire subsidiaries that hold the operating assets and liabilities of the company of about $1.05 billion in cash and $1.2 billion in seller financing. VICI Properties will acquire subsidiaries that hold the real estate of The Venetian for $4 billion.

PHOENIX, Ariz. – JLL Income Property Trust acquired the Southeast Phoenix Distribution Center, a newly constructed, four-building, Class A facility totaling 474,000 SF and located in the Chandler submarket of Phoenix. The purchase price was $91 million.

BATON ROUGE, La. – Transwestern Real Estate Services is expanding its presence in Louisiana with a new office in Baton Rouge, led by Managing Director Branon Pesnell.  Transwestern first expanded into Louisiana in 1998 when it opened its New Orleans office, led by Senior Vice President Bryan Burns.

March 6, 2021 Realty News Report Copyright 2021`

File: RNR Real Estate Briefs

Caption: Rendering: Intracorp’s One Oak project in Austin. Land assemblage by Rastegar Property Company, who will retain an investment in the project. Architecture by Pappageorge Haymes Partners. Courtesy Intracorp

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