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

RNR Real Estate Briefs from Realty News Report – HOUSTON – Mike Spears and Frank Blackwood of Lee & Associates –Houston  brokered the sale of a 52,000-square-foot manufacturing building on 7.95 acres at 9110 Taub Road in Houston. Spears and Blackwood represented the buyer, Integrated Induction, Inc., and David Boyd and Wes Williams of Boyd Commercial represented the seller, Allegiance Bank.

HOUSTON – Lee & Associates –Houston represented Bolcof / Liberman Realty, LLC in the sale of five,100-percent leased buildings that make up the 42,000-SF industrial park at 6315-6363 Theall Road. Clint Hankla and Justin Cole of Lee & Associates –Houston represented the buyer, and Michelle Soderberg with Colliers represented the seller, LCG Lieberman Realty, LLC.

FRIENDSWOOD, Texas – D’Agostino Companies is building the 291-unit The Reserve at Baybrook apartments adjacent to Baybrook Mall on Houston’s southeast side. D’Agostino Companies purchased the Baybrook land in July 2020 from Finwood Properties Co. managed by CDC Houston, a subsidiary of Coventry Development Corp. of New York. JLL’s Chris Bergmann Jr. represented D’Agostino Companies.

HOUSTON – On behalf of Clarion Partners LLC, JLL announced an agreement on a 22,128 SF lease at One Oak Park, a 150,000 SF office building on Rogerdale Road in Westchase. The tenant, First Continental Mortgage, will occupy the fifth floor. Matt Pruitt and Christian Canion of JLL represented Clarion Partners. Adam Strauss and Cassie Crabtree of New Regional Planning represented the tenant. In another deal, Flight Pro International leased 6,128 SF. Newmark’s Reggie Beavan and Kaitlyn Duffie represented Flight Pro International.

HOUSTON – Eagle Property Capital Investments of Miami acquired a 438-unit portfolio with two Northwest Houston multifamily properties: Champions Centre and Champions Park. “The properties will be managed as a single community, representing value creation through operating efficiencies,” said Gerardo Mahuad,  managing principal of Eagle Capital.

RICHMOND – Chiken Kitchen leased space at  The Grand at Aliana shopping center near the Grand Parkway. Grant Walker and Brad Kilbride of Lee & Associates –Houston represented the tenant. Josh Friedlander and David Meyers of NewQuest Properties represented the landlord.

HUMBLE, Texas – Summer Creek Plaza, a 22,333 SF retail center located on North Sam Houston Parkway East in Humble, was sold, according to Marcus & Millichap.

HUMBLE, Texas – Painting with a Twist leased 1,790 SF in the Atascocita Plaza Shopping Center at 6900 FM 1960 E in Humble, Texas. Painting with a Twist was created in 2007 by two entrepreneurs from Louisiana. The landlord was represented by Kristen Barker of Wulfe & Co.

HOUSTON – Wan Bridge, a Texas-based developer, builder and manager of build-to-rent communities, has announced the completion of 30 units and a model home in its Clearwater at Balmoral community.

HOUSTON – Satya has sold its new Shops at Louetta to a Harris County otolaryngologist. The 15,059-SF retail center, developed in 2020 by Satya, is located Highway 290 and Louetta Road. Josh Jacobs of Blue Ox Group and David Luther of NewQuest. Houston Sinus & Allergy will occupy 5,200 SF.

TEXAS – RNR Real Estate Briefs

 DENTON, Texas – Square Mile Capital  Management, LLC, originated a $45.5 million loan secured by Village at Rayzor Ranch, a newly built multifamily complex in the Rayzor Ranch submarket of Denton. The loan was made to Seven Seas Holdings and helped finance the acquisition of Village at Rayzor Ranch. Financing was arranged by Dustin Dulin of Jones Lang LaSalle’s Dallas office.

SAN ANTONIO – NAI Partners recently arranged a 20,333 SF industrial lease — comprised of an expansion and relocation — for Renewal by Andersen of Central Texas at 3360 Thousand Oaks Drive in San Antonio. NAI Partners’ Carlos Marquez represented the tenant.

ARLINGTON, Texas – Gary Walker, president of SkyWalker Property Partners and managing principal of Hangover Opportunity Fund, acquired Vandergriff Town Center at 200 N. Mesquite St. for his personal holdings. The 28,211 SF center is located at 200 N. Mesquite St.

WACO, Texas — Main Event, the nation’s premier bowling brand, will break ground this month on a 48,559 SF entertainment project in Cottonwood Creek Market near I-35 in Waco. Austin Baldridge represented NewQuest in the transaction. Dawn Greiner of SRS Real Estate Partners handled negotiations for Main Event.

DALLAS – Avid Center has renewed 7,387 SF of office space in Forest Green Office Park, 11910 Greenville Ave., Dallas. Jared Laake, Richmond Collingsworth and Richmond Collinsworth represented the landlord, SOHO/Davis FG LLC, in the direct deal.

MESQUITE, Texas – A 71,674 SF Academy Sports + Outdoors store opened at Market East Shopping Center in Mesquite, reports Fidelis, a Houston-based firm with more than 60 retail properties in Texas, New Mexico, Louisiana, Tennessee and Colorado.

NATIONAL RNR Real Estate Briefs

NEW YORK – Allianz Real Estate, a PIMCO Company, increased its residential exposure in the U.S. with a $300 million investment in one of the world’s largest private single-family rental vehicles, the Upward America Venture. It will be managed by LennarSFR, a newly formed subsidiary of the homebuilder, Lennar Corp.

BOSTON – JLL Capital Markets handled the $67 million sale of a land site at 60 Guest Street in Boston. The site, which is fully approved for a state-of-the-art life science development within the Boston Landing campus, was purchased by a partnership betweem Lendlease and Ivanhoé Cambridge. JLL represented the seller, NB Development Group,

FLAGSTAFF, Ariz. — Cushman & Wakefield announced it has brokered the sale of Village at Aspen Place, a 222-unit Class A, mixed-use luxury multifamily community located in a premier lifestyle center in Flagstaff, Ariz. An entity formed by Orange County, Calif.-based NNC Apartment Ventures, LLC, acquired the Village at Aspen Place community for $64.5 million. The seller was an entity formed by Kansas City, Mo.-based VanTrust Real Estate, LLC.

NASHVILLE – Dalfen Industrial of Dallas acquired 76 acres just east of the Nashville airport. The seller was FedEx. A 3-building, 740,000-SF industrial park will be built.

CHICAGO — B+E, a brokerage and technology platform for net-lease real estate, announced the sale of the newly constructed CIBC retail bank building at 458 E Pershing Road in Chicago for $1,900,000.

March 20, 2021 Realty News Report Copyright 2021

File: RNR Real Estate Briefs

Caption:  FRIENDSWOOD, Texas – D’Agostino Companies is building the 291-unit The Reserve at Baybrook apartments adjacent to Baybrook Mall on the southeast side of the Houston area. Rendering Courtesy D’Agostino Cos.  For full story click here:

For more about the history of Houston development, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up  by Ralph Bivins. Available on Amazon  http://tiny.cc/4a2g6y


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