RNR Real Estate Briefs from Realty News Report – MISSOURI CITY – Awesung signed a new industrial lease of 239,124 SF at 611 S. Cravens Road in Missouri City, Texas. Transwestern’s Jude Filippone, Brian Gammill and Darryl Noon represented the building owner
HOUSTON — JLL was selected by Texas Orthopedic Hospital, an affiliate of HCA Houston Healthcare, as exclusive leasing agent for its medical office building at 7505 South Main. The 80,098 SF, Class A building has leasing availability ranging from 2,577 SF to 14,625 SF. JLL’s Chris Wadley, Angela Barber and Hope Brunner will represent 7505 South Main in marketing and leasing efforts for the property.
LAKE JACKSON, Texas — The 45,086 SF Brazos Self Storage facility at 1819 TX-332 in Lake Jackson, has been sold, according to Marcus & Millichap real estate investment services.
HOUSTON — Wingstop has leased 2,487 SF at the Carillon Shopping Center, 10001 Westheimer in Houston. The dining spot has more than 1,500 locations worldwide and more than 45 in Houston. The tenant was represented by Eddie Lang of Quenby Commercial ,and the landlord was represented by Katherine Wildman of Wulfe & Co.
HOUSTON — Jack Gaffney and John Buckley with Finial Group extended a lease at 11614 Canyon Trail Drive in Houston. The tenant, Commando Pressure Control, Inc., renewed the lease in the 14,100 SF industrial building in the Four Seasons Business Park. The property is located near State Highway 249, Beltway 8 and FM 1960. Finial Group represented the landlord.
HOUSTON – JLL negotiated a 22,844-SF lease at the Towers at Westchase I, a Class A office building located in the Westchase district of Houston. The tenant, Network Funding, a residential mortgage lender, will occupy the entire ninth floor. Bryant Lach and Jerrod McQuain of JLL represented Network Funding in the lease negotiation.
STAFFORD – USA Gloves signed a new lease for 114,450 square feet at 11325 Cash Road in Stafford. Transwestern’s Industrial team of Jude Filippone, Carter Thurmond, and Brian Gammill represented the building owner.
ROCKPORT, Texas – Located beside Cove Harbor Marina and Drystack, which Legend Communities also developed, Cove Harbor Coach Resort is a 42-slip motorcoach boutique waterfront resort and clubhouse. The Cove Harbor Event Center features an open concept that seats 140 people.
HOUSTON – Harmony Public Schools renewed its lease of 15,777 square feet at 14100 Southwest Freeway in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented building owner Songy HighRoads LLC.
COLLEGE STATION, Texas – Newmark announced the sale of 2818 Place and Parkway Place, two high-end, garden-style student housing communities with a total of 350 units and 1,128 beds serving Texas A&M University in College Station. Newmark’s Ryan Lang and Jack Brett represented the seller, Blue Vista, an investment management firm from Chicago. 2818 Place and Parkway Place was traded to Mountain Capital Partners, a Los Angeles-based real estate investment and development firm, and Homestead Companies.
CONROE – Century Communities, a top 10 national homebuilder, announced plans to build over 400 homes in Conroe on two sets of recently acquired land. Called Granger Pines and Caney Mills. Chris Chewis Houston Division President.
HOUSTON – Third Coast Bank, SSB renewed its lease of 11,148 SF and expanded its lease by 4,673 SF at 1800 West Loop South in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented building owner Pacific Oak.
WHARTON – Edge Capital Markets brokered the sale of Wharton Shopping Center oon US Highway 59 in Wharton. Micha van Marcke and Ryan Holliday of Edge represented the seller. Wharton Shopping Center is a value-add, 15,070 SF shopping center.
TEXAS – RNR Real Estate Briefs
COLLEYVILLE, Texas – CBRE Capital Markets’ Debt & Structured Finance group has arranged $32 million in bridge financing for Town Center Colleyville. Shaun Moothart, Dana Summers, Scott Lewis and Frank Piasta with CBRE Capital Markets originated and secured the financing on behalf of Sterling Organization to source the financing through Rialto Capital. The loan will provide a three-year initial term, with two one-year extension options. Town Center Colleyville is a 246,327 SF neighborhood grocery-anchored shopping center.
GREENVILLE, Texas – Steven Vegh and Phil Goldstein of Westwood Realty Associates facilitated the sale and arranged financing of two garden-style apartment complexes consisting of 316 units, in Greenville. NJ-based, J Stark Management acquired Kingridge Village and Garden Park Apartments for $15 million. The properties, located 25 miles out of Dallas, were built in 1964 and 1975. The seller is NY-based Platinum Management which purchased the properties for $7 million.Financing was provided by Harbor Group International.
TEMPLE, Texas — Wolf Creek Capital Partners, led by Michael Prahl,acquired the 48-unit Jamestown and Williamsburg in Temple, Texas. The Multifamily Group’s Danny Wieland represented the seller and Chase Davis procured the buyer.
CARROLLTON, Texas – Technical Consumer Products Inc. has leased 11,819 SF of office/warehouse space in Whitlock Business Center I, 1425 Whitlock Lane, Carrollton, from Kennington Whitlock I, LLC. Brian Pafford and Susan Singer of Bradford Commercial Real Estate Services represented the landlord. Caleb McCoy of JLL represented the tenant.
FORT WORTH – Southland RE Properties, LLC, has sold a 5,010 SF medical office building on 0.52 acres at 6635 Sandshell Blvd., Fort Worth, to JuLa Investments LLC. Erik Blais of Bradford Commercial Real Estate Services represented the seller. Don Phifer of Phifer & Associates Inc. represented the buyer.
MANSFIELD, Texas — Bellomy & Co. has announced the sale of Stadium Self Storage in Mansfield, Texas, 34 miles southwest of Dallas. The Class B property comprises 343 units in 43,745 NRSF. Bill Bellomy and Michael Johnson of Bellomy & Co.represented Stadium Self Storage Inc., the seller. The team also procured the Austin-based buyer, Bassdale Investments, LLC.
NATIONAL – RNR Real Estate Briefs
RICHMOND, Va. – Amazon announced it will build a new, robotics fulfillment center on 119 acres in Richmond, Va., creating 1,000 new jobs. The company will construct a multi-story, 650,000-SF facility with innovative robotics technology on land next to the Richmond Raceway in Henrico County, expected to open in 2022.
JERSEY CITY, N.J — Mack-Cali Realty Corporation announced the $255 million sale of its Short Hills, N.J., office portfolio, a group of four offices encompassing 843,300 SF, to The Birch Group.
BURLINGAME, Calif.– Cushman & Wakefield served as exclusive advisor to affiliates of Kylli, Inc. in the procurement of $750 million for the refinancing of Burlingame Point, a new, office campus on the San Francisco Peninsula. The 9.3-year, fixed-rate financing was provided by affiliates of Goldman Sachs, J.P. Morgan, Deutsche Bank and Athene Annuity & Life Company (via Apollo Global Management). Burlingame Point is a LEED (Leadership in Energy and Environmental Design) Gold-certified property featuring four Class A office/R&D/life science buildings totaling approximately 771,000 rentable SF.
BELLINGHAM, Wash. — eXp World Holdings, Inc., a rapidly growing residential and commercial real estate company, announced the creation of a partnership between eXp Commercial and Reonomy to enhance property intelligence and technology stack offerings for eXp Commercial agents. Reonomy provides actionable commercial real estate insights using artificial intelligence and machine learning to fuel business decisions.
DALLAS, –CBRE announced the sale of Hilltop Club, a 216-unit, 756-bed student housing community in Bowling Green, Kentucky near Western Kentucky University. The asset was marketed as a by-the-bed student housing asset with an opportunity for conventional multifamily conversion. Jaclyn Fitts, William Vonderfecht, and Casey Schaefer with CBRE’s National Student Housing practice, along with Brett Kingman, Russell Oldham, and Brett Carr from CBRE Nashville Multifamily practice, arranged the transaction on behalf of ownership. Nashville-based Freeman Webb purchased the property.
FAYETTEVILLE, N.C. – JLL Capital Markets handled the sale of 880 Technology Dr., a fully leased, 182,866-SF warehouse in Fayetteville. JLL represented the seller, LNR Partners, and New York-based SkyREM purchased the asset.
April 24, 2021 Realty News Report Copyright 2021
Buffalo Bayou Photo credit: Ralph Bivins, Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
File: RNR Real Estate Briefs