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

RNR Real Estate Briefs from Realty News Report–  HOUSTON — BHVA Real Estate Holdings purchased a 125,278 SF industrial building at 13101 Almeda Road in Houston. Doc Perrier, Jack Gaffney and John Buckley with Finial Group represented the seller, Agarita Almeda, LLC. Matt Rogers with Oxford Partners  represented the buyer.

HOUSTON — Kyle Whieldon of Cypressbrook Company represented the tenant, Big G Steel, in the leasing of 5,493 SF of office/warehouse space at 751 Bradfield in Houston. John Gazzolla of Lee & Associates represented the landlord, HPI Holdings.

ROSENBERG, Texas — SuperNova Furniture has leased 40,000 SF of retail space in Brazos Town Center, at Interstate 60/US Highway 59 and FM 762, Rosenberg, from NewQuest Properties.Bob Conwell and Austen Baldridge  of NewQuest Properties represented the landlord. Joe Silver and Chris Pitts of Streetwise Retail Advisors represented the tenant.

BAYTOWN, Texas — The Teahouse has leased 1,400 SF in Baytown Marketplace, Baytown, Texas. The Teahouse, which offers made-to-order teas in a family friendly atmosphere, is the premier Boba Tea operator in the greater Houston area, now with 24 locations. The landlord was represented by Chris Hipps of Direct Retail Partners and the tenant was represented by Wes Miller of  Wulfe & Co. 

HOUSTON – George Montes of Cypressbrook Company represented the tenant, Teksys, Inc., in the leasing of a 3,000 SF warehouse at 5401 Mitchelldale St., Houston. Justin Harrity represented the landlord, Hartman Income REIT Management, Inc.

PASADENA, Texas –KimberlyDeVos  of Cypressbrook Company represented the tenant, Pelican Grill, in leasing 2,145 SF of retail space for its second restaurant location at Shoppes at Fairmont Crossing, 7315 Fairmont Parkway, Pasadena. The landlord, The Center at Fairmont Crossing, LP, was represented by Jon Kantalis with Rob Johnson Interests.

KATY, Texas – Mister Car Wash has ground-leased a 1.7-pad site in Shops at Katy Reserve at FM 1463 and Spring Green Boulevard, Katy, from NewQuest Properties.  J.J. McDermott and Kevin Sims of NewQuest Properties  represented the landlord. Joe Silver of  Streetwise Retail Advisors represented the tenant.

CYPRESS, Texas – Orthosmiles has leased 2,100 SF of retail space in Shops at Rock Creek in Cypress from NewQuest Properties.  Andrew Alvis of NewQuest represented the landlord. Trey Hargrave of Dental Space Advisors represented the tenant.

HOUSTON – Fat Tuesday has leased 1,940 SF of retail space in Dunvale Center, 8350 Westheimer Road in Houston, from Edge Realty Partners LLC.Andrew Alvis  of NewQuest Properties represented the tenant. Kathy King of Edge Realty Partners represented the landlord.

HOUSTON – P + R Productions, a video production company, leased 1,200 SF at 1458 Campbell Road. Melissa Gerber Brams of Gerber Realty represented the tenant.

HOUSTON – AS 157 1488 Magnolia Circle, LP, has purchased an 8,000 SF building at 7424 FM 1488 from NewQuest Properties.  Andrew Alvis of NewQuest represented the seller. Rob Whitaker,  also from NewQuest Properties, represented the buyer.

TEXAS – RNR Real Estate Briefs

FARMERS BRANCH, Texas –Colliers  announced the sale of a 24,924 SF property on Denton Drive in Farmers Branch, Texas, which features newly renovated office and warehouse space. The buyer, Woodhill Investment Company, was represented by Jake Dreyer of KW Commercial.  Jason Tangen  and Barrett Gibson  of Colliers represented the seller, H&B Development and Construction.

RICHARDSON, Texas – ZMR Capitalacquired Chimney Hill, a 240-unit gated community on Forest Lane in the North Dallas submarket of Richardson. Since entering the Dallas market in 2019, ZMR (formerly Berkshire Property Holdings) has increased its local multifamily holdings to 1,100 units.  ZMR leveraged the acquisition with three-year financing from a non-bank real estate lender arranged by Brian Eisendrath of CBRE Capital Markets .

FARMERS BRANCH, Texas – Woodhill Investment Company purchased a 24,924 SF, newly renovated office and warehouse space in Farmers Branch. The property is a 100% net leased investment opportunity. The buyer was represented by Jake Dreyerof KW CommercialJason Tangen and Barrett Gibson of Colliers represented the seller, H&B Development and Construction. The industrial warehouse on two acres, one block off I-35, was fully leased by Corey Construction.

AUSTIN – AMLI  Residential acquired The Elizabeth, a 373-unit, mid-rise multifamily asset in the “Silicon Hills” area of north Austin, which has a large concentration of tech employment. Constructed in 2020, the property was in the latter stage of its initial lease-up. Newmark’s Patton Jones represented the seller, Streetlights Residential, a Dallas-based multifamily developer.

HUTCHINS, Texas – Cushman & Wakefield arranged a 337,913-SF lease on behalf of SiteOne Landscape Supply at 1200 W. Wintergreen Road in Hutchins, Texas. Adam Curran, David Eseke, Gary Collett, and Jeff Eisenhart of Cushman & Wakefield represented the tenant. Cabot Properties is the landlord.

DALLAS – Austin-based Bellomy & Co. handled the sale of a five-property portfolio of self-storage facilities in the Dallas/ Fort Worth area, totaling 1,736 units and 329 parking spots spread over 278,840 rentable SF.  The properties are in the cities of Aubrey, Crowley and Wylie. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller and procured the New York-based buyer – Andover Properties, d/b/a/ Storage King USA.

SAN ANTONIO – The Multifamily Group, a Dallas-based commercial real estate brokerage firm, facilitated the sale of the 400-unit Limestone Oaks & Townhomes in San Antonio. Multifamily Group’s Bryce Smith represented the seller and procured the buyer.

ARLINGTON, Texas — Bill Bledsoe and William Sanders with Henry S. Miller Brokerage represented both parties in the sale of an office building and surrounding acreage in the Entertainment District of Arlington. The seller was Bob Moore Construction, and the buyer was Texas B & B Properties, a real estate arm of The Auto Cave.

McKINNEY, Texas – Younger Partners’ Tom Grunnah and Jeremy Lillard brokered the sale of 18.22 acres in McKinney, near S. Hardin Boulevard. They represented both the buyer, a commercial developer, and the seller, a private individual. A light industrial business park will be built there.

PLANO, Texas – Newmark announced the sale of Legacy R&D Portfolio, a 374,085 SF, campus-style business park on 40 acres at Tennyson Parkway and Pinecrest Drive in Plano, within the Dallas/Fort Worth Legacy submarket. Gary Carr, Chris Murphy, John Alvarado, Robert Hill and Chase Tagen, all with Newmark, represented the seller.

FORT WORTH – TeaBevCo leased 25,692 SF of industrial space in Railhead Business Station, 500 Railhead Road, Fort Worth, from Sun Life Assurance Co. of Canada. Nick Talley of  Bradford Commercial Real Estate Services represented the landlord. Todd Hawpe of Transwestern represented the tenant.

CLEBURNE, Texas — Ride N Safe has leased 20,000 SF of industrial space at 3701 Windmill Road in Cleburne from 3701 Windmill Road, LLC. Brandon Alexander and Jason Finch  of Bradford Commercial Real Estate represented the tenant. Britton New  of G.T. Industrial Properties Inc.  represented the landlord.

DALLASCBRE announced that Fortress Investment Group signed a 47,850 SF lease at Weir’s Plaza, a mixed-use retail and office development in the Knox-Henderson neighborhood of Dallas. The state-of-the-art Weir’s Plaza development broke ground in July 2019 and is scheduled to open in November 2021.  Tommy Nelson and Dennis Barnes with CBRE’s office leasing team in Dallas represented the landlord, Dallas-based Four Rivers Capital. Howard Grufferman, Billy Vahrenkamp and Brad Balke with Colliers International and Jeff Ellerman and John Ellerman with CBRE co-represented Fortress in the lease

NATIONAL RNR Real Estate Briefs

STOCKTON, Calif. – Dalfen Industrial acquired the Pock Lane Logistics Center in Stockton. The 55,200-SF building was built in 1995 and is 100 percent occupied by KMM Corp.

COUNCIL BLUFFS, Iowa – Bellomy & Co.  handled the sale of the three-property Cornerstone Storage Portfolio in Iowa.  Each property is located northeast of the Omaha/Council Bluffs MSA.   The portfolio is made up of 309 non-climate units and 45,000 SF.  Bill Bellomy and Michael Johnson of Texas-based Bellomy & Co.  represented Cornerstone Storage, LLC, the Nebraska-based seller.

OAKLAND, Calif. – Riaz Capital acquired Oakbrook Manor and the Palmcrest Apartments in Oakland, near-adjacent properties that comprise three buildings and 200 units, for $44 million.

PHILADELPHIA – JLL Capital Markets handled the $31.5 million sale of a 305,706 square-foot warehouse facility at an urban, last-mile location in Philadelphia.JLL marketed the properties on behalf of the seller, 2121 Wheatsheaf Lane LLC. Greek Development purchased the asset.The facility is situated on 21.25 acres at 2121 Wheatsheaf Ln. at the base of the Betsy Ross Bridge

BELLEVUE, Wash. – Hines  and Benenson Capital Partners and USAA Real Estate, announced Main Street Place, a 6.75-acre, mixed-use development in downtown Bellevue, Washington. The development will consist of 1.2 million square feet of new high-rise office product on the north side of the site, enjoying expansive, unobstructed southern views, as well as 400 units of low-rise apartments on the south portion. The ground plane will feature a pedestrian experience with 90,000 SF of retail.

ANNAPOLIS, Md –Transwestern Real Estate Services arranged the sale of Watergate Pointe, a waterfront apartment community encompassing 608 units and 160 fixed docks on 31 acres in Annapolis, Maryland. Transwestern’s Dean Sigmon, Robin Williams, Justin Shay and Michael D’Amelio represented Castle Lanterra Properties in the disposition to TPG Real Estate and The Bainbridge Companies, which purchased the asset for $154 million, or $253,290 per unit.

June 12, 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  

Ebook version  https://tinyurl.com/4xm7z8b5   

File: RNR Real Estate Briefs 2021

File (2) RNR Real Estate Briefs. June 12, 2021

Photo credit: Ralph Bivins, Realty News Report. Copyright 2021

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