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

RNR Real Estate Briefs from Realty News Report – SPRING, TexasPatrinely Group, LLC, managing member of the joint venture with USAA Real Estate and CDC Houston that is developing CityPlace, announces Caliber Solutions and Continental Land & Fur Co., Inc. have signed leases at CityPlace 1, 1700 City Plaza Drive, Spring, Texas. CityPlace 1 was the first multi-tenant office building built in CityPlace at Springwoods Village and totals 149,500 SF. Caliber Solutions, a technology advisory and professional services firm, will occupy 4,475 SF and Continental Land & Fur, an oil and gas producer, will occupy 5,273 SF. Continental was represented by Jim Pratt of ColliersChrissy Wilson of JLL, under the direction of Patrinely’s Dennis Tarro, represented the landlord.

HOUSTON – Transwestern Real Estate Services announces it negotiated a long-term retail lease at Galleria Park with P.F. Chang’s China Bistro. The restaurant is relocating from Highland Village to occupy 6,135 SF at 5251 Westheimer Road in Houston. Loch Cook and Nick Hernandez negotiated the lease for landlord TR Galleria Place Corp.Jack Breard of Segovia Partners provided tenant representation for P.F. Chang’s.

HOUSTON — Liberty Oilfield Services, LLC, has leased 20,382 SF at One Memorial City Plaza, 800 Gessner Road, Houston.Anya Marmuscak of JLL represented the tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational

HOUSTON –Silverbow Resources, Inc. will move into a 16,213 SF office space at 920 Memorial City Way, Houston, in mid-May. Kevin Kushner and William Padon of CBRE represented the prospective tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational.

HOUSTON — Jason Gibbons with Finial Group arranged a lease at 14505 Torrey Chase Blvd., Suite 110, in Houston. The tenant, Robert Adams, Inc., signed a lease at the office building in Northchase Business Park in North Houston. The firm is based in Houston and is licensed to practice architecture and interior design in Texas. Finial Group represented the landlord

HOUSTON – The Institute of International Education, Inc. renewed its lease of 5,227 SF at 1800 West Loop South in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger represented building owner Pacific Oak.

HOUSTON — Jura Energy Management, LLC, has expanded its lease to 15,184 SF at Memorial City Place, 9821 Katy Freeway, Houston. Randy Wilhelm and Liz Westcott-Brown of NAI Partners represented the tenant. Brad MacDougall and Warren Alexander represented the landlord, MetroNational.

HOUSTON—Houston-based Vivaldi Music Academy  unveiled its fourth location at Sugar Land Town Square, complementing existing sites in West University, Bellaire and Memorial.  The new, 2,500 SF facility replaces Sessions Music and joins other recently added  Sugar Land Town Square tenants. Opened in 2013, the school offers classes for all ages and skill levels.

HOUSTON — Clean and Clear Pools has leased 2,000 SF in the Easton Commons Shopping Center, 8542 Highway 6 N. in Houston. Clean and Clear is a family owned and operated firm specializing in pool maintenance and repairs. Its new location will carry a full line of pool supplies and equipment. This transaction was handled solely by Wulfe & Co.

HOUSTON — SCP Eye Care Services, LLC, renewed its lease of 5,171 SF at 11550 Fuqua in Houston. Transwestern’s Louann Pereira, Doug Little and Matthew Seliger  represented the building owner, Board of Trustees of the Maritime Association – I.L.A. Pension Fund.

CONROE, Texas – Larry Petersof NorthMarq’s Houston office finalized a cash-out refinance for Market at Shenandoah, the 11,560 SF Class A retail/service property in Conroe, Texas. The transaction was structured with a 10-year term on a 25-year amortization schedule at a 3.65% interest rate. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra, a life insurance company.

SUGAR LAND, Texas — Art Museum TX, a Fort Bend-based nonprofit dedicated to promoting contemporary Texas art through exhibits, events and education, is launching a two-year residency at Sugar Land Town Square in May. The brainchild of curator   Ana Villaronga-Roman,  Art Museum TX will encompass a 4,000 SF space adjacent to the central plaza.

TEXAS RNR Real Estate Briefs

AUSTIN – Cousins Properties plans to commence development of Domain 9, a 335,000-SF office building in Austin, during the second quarter of 2021.  The total project cost is $147 million with delivery slated for mid-2023.Cousins, a REIT, based in Atlanta.

ARLINGTON, TexasStreetLights Residential, a Dallas-based developer of multifamily and mixed-use communities nationwide, has broken ground on the second phase of its newest multifamily development in Viridian, a master-planned community in Arlington. Located between Dallas and Fort Worth, Viridian spans 2,000 acres with access to lakes, trails, shopping and event venues. StreetLights’ new community will have 343 apartment homes ranging from studios to three-bedrooms.

GRAND PRAIRIE, Texas – Lykes Cartage Co. Inc. has expanded and relocated into 68,818 SF of Class A industrial space in the Great Southwest Industrial District. The cargo and freight company has moved to 2880 113thSt. in Grand Prairie, signing a long-term lease for nearly 69% of the Great Southwest Distribution Center. CORFAC International affiliates Joe Santaularia of Bradford Commercial Real Estate Services and Russell Todd of Centric Commercial represented Lykes in the transaction and subsequent sublease of its former 28,000 SF warehouse in Grapevine.

NATIONAL RNR Real Estate Briefs

RALEIGH, N.C. – Lionstone Investments of Houston recently acquired Vine North Hills, a newly-completed residential development in midtown Raleigh, N.C. Delivered in October 2020, Vine is a 326-unit, multifamily property in Raleigh’s North Hills submarket. It is currently 48% leased. Raleigh’s Kane Realty Corp. developed Vine as part of the first phase of the 33-acre North Hills Innovation District, which will eventually encompass two high-rise office towers, three additional residential buildings, 60,000 SF of ground-floor retail and connectivity to the Capital Area Greenway.

BENSENVILLE, Ill. –Commercial real estate firm  Lee & Associates  has closed a long-term lease for a 306,918 SF industrial building at 1010 Foster Ave. in Bensenville, Ill. Mark Baumhart, from Lee & Associates’ Illinois office, represented the owner, Prologis.  Terry Herlihy of NAI Hiffman represented the tenant, Yahee Technologies.

VERNON, Calif.– Lee & Associates – Commerce represented 2761 Fruitland Ave., LLC, in the sale of a 268,049 SF creative office space at 2707, 2711, 2761 Fruitland Ave. and 5125 Soto Street (formerly BCBG) in Vernon, Calif. for $24.5 million. Peter D. Bacci and Jack R. Cline of Lee & Associates – Commerce represented the seller while Mollie Dietsch, also from Lee & Associates ‐Commerce, represented the buyer, YJK 2021 Exchange, LLC, also known as IRIS, a garment manufacturing company based in Vernon. 

ORLANDO, Fla. — JLL Capital Markets arranged a $197 million refinancing of a 10-property retail portfolio with more than one million SF in Washington, D.C., Baltimore, Chicago, San Diego, Los Angeles, San Francisco and Seattle. JLL worked on behalf of the borrower, a partnership managed by Regency Centers Corp., to arrange 10 uncrossed first mortgage loans, all on a 10-year, fixed-rate, interest-only basis with Hartford Investment Management Co. The portfolio is 97% leased and consists primarily of grocery and pharmacy neighborhood centers anchored by Trader Joe’s, Giant, Safeway, Ralph’s, Albertson’s, Mariano’s, Walgreens, CVS and Rite Aid.

DENVER – Watermark Residential completed sale of Dayton Station, a 63-unit leased townhome community in the coveted Cherry Creek community of Aurora. Red Peak acquired the property for $33.5 million.

DENVER —Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition,  has entered into a joint venture partnership with San Francisco-based DivcoWest to invest $250 million of equity in single-family homes as rentals throughout the Western United States. The JV expects to deploy $1 billion acquiring and renovating homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.

May 1,  2021 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 – HOU, DAL, AUS, SAT – and more

Photo credit: Ralph Bivins of Realty News Report Copyright 2021


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