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

RNR Real Estate Briefs from Realty News Report –HOUSTON —Reed Vestal and Taylor Schmidt of Lee & Associates – Houston represented 290 Betka, LLC, which acquired 265.63 acres at 26103 Betka Road in Hockley. Jeffrey Pittman and Alex Makris of CBRE represented the seller, McAlister Opportunity Fund 2012, LP.


HOUSTON – Susman Godfrey leased 76,856 SF at Wells Fargo Plaza, 1000 Louisiana. Marilyn Guion, Dave Hanusa and  Warren Savery with CBRE  represented the landlord.  Steve Burkett with JLL represented Susman Godfrey.


HOUSTON – Wolff Cos., a firm founded by  David Wolff, acquired 43 acres of land fronting U.S. 290 at the northeast corner of the James R. Muse Parkway. The acquisition increases the size of Wolff’s Beacon Hill development to 561 acres.


HOUSTON –Colliers International announced  Tiny’s Milk & Cookieshas leased space in the Village Towers located at 9655 Katy Freeway in Houston, Texas. This will be Tiny’s Milk & Cookies third location in Houston. Hannah Tosch of Colliers International represented the tenant, Tiny Boxwood’s Holdings, LLC. The landlord, Moody National HQ, represented themselves in the transaction.


HOUSTON — Inway Oaks JV has purchased 44.25 acres of raw land at 26008 Riley Road in Waller from Schwindmoore Forest LLC. Randy Nerren of NewQuest Properties represented the buyer. Brenda Pennington of B. Pennington Commercial Real Estate Inc.worked on behalf of the seller.


HOUSTON – The Groves, a master-planned community in northeast Houston, has added Beazer Homes to its roster of builders. The Groves was created by  Ashlar Development.


HOUSTON –JLL Capital Markets arranged refinancing totaling $40 million for 5300 Memorial and 10497 Town & Country, office buildings totaling 302,980 SF.  JLL worked on behalf of the borrower, an affiliate of Equus Capital Partners, to secure the five-year, floating-rate loans through East West Bank. 5300 Memorial is a recently renovated, 153,671 SF office building connected to a 444-space parking structure. The 11-story property is 93% leased.


HOUSTON – Asset Living, a Houston-based property management firm, announced it has acquired Shelton Residential, an Arizona-based property management company with a focus on conventional multifamily apartments. Founded in 1984, Shelton is one of the largest property management firms in Arizona with more than 17,000 units spanning Arizona, Texas, Colorado and New Mexico.


WILLIS, Texas — Bellomy & Co. announced the sale of A-1 Storage in Willis, Texas, 48 miles north of Houston. The Class B property comprises 242 units in 52,680 net rentable SF. Bill Bellomy and Michael Johnsonof Bellomy & Co .represented Pacific View Investments, LLC, the Hermosa Beach, Calif.-based seller.  Craig Rice and Cole Rice of CSD Realty Company represented the Houston-based buyer, Willis East Storage, LLC.


HOUSTON – Transwestern Real Estate Services brokered the acquisition of an 84,200 SF, multi-tenant industrial building at 5708 N. Shepherd Drive. John Ferruzzo and Nick Peterson provided investment sales services to the buyer, Geirin North Shepherd, LLC. David Munson and David Boyd of Boyd Commercial represented the seller, the estate of Frank D. Adams.


HOUSTON — Global Student Housing – Houston, LLC, has purchased a 1.2-acre development site at Scott and McGowen streets, Houston, from RSB Ventures Ltd. Brad LyBrand of NewQuest Properties represented the seller.


WEBSTER — SynergenX has leased 3,054 SF at the Baybrook Passage Shopping Center, I-45 and Bay Area Boulevard in Webster, Texas. SynergenX assists patients with hormone replacement, weight loss and other related services. Currently, SynergenX has 13 locations in Texas, seven in the Greater Houston area. The tenant was represented by Brady Wright and John Pope of Pope Corporation and the landlord was represented by Elise Weatherall of Wulfe & Co.


HOUSTON — Doc Perrier with Finial Group extended a lease at 1960 South Starpoint, Houston. Mesino Management Company, LLC, renewed its lease at the 7,875 SF industrial building located off Hardy Toll Road in North Houston. Finial Group represented the landlord.


HOUSTON – Original Chopshop has leased 3,550 SF of retail space in Tanglewood Shopping Center, 5018-D San Felipe St., Houston, from RPI Management Co., LLC. Josh Friedlander of NewQuest Properties represented the landlord. Ben Brown of Baker Katz represented the tenant.


ROSENBERG – Cavender’s purchased 1.75 acres in Village Crossing – Rosenberg near I-69/US 59 between Reading Rd and FM 2218, in Fort Bend County to locate a new Cavender’s Boot City store. Sharon Biles, Sabre Properties, assisted Cavender’s in the purchase of the land.  Jennifer Raymond,  JPR Commercial Real Estate, represented the seller.


MANVEL — Special Smiles Kid’s Dentistry & Orthodontics has leased 2,982 SF of retail space in the Shops at Sedona Lakes at the intersection of TX 288 and Bailey Avenue in Manvel from New Quest Properties.  Kevin Sims of New Quest Properties represented the landlord. George Allen of Practice Real Estate Group worked on behalf of the tenant.


HOUSTON – Houston-based  ConocoPhillips  has completed the acquisition of Midland-based Concho Resources, an oil and gas firm that operates exclusively in the Permian Basin with HQ offices at One Concho Center, 600 West Illinois Avenue in Midland.

TEXAS — RNR Real Estate Briefs

DALLAS –  J. Small Investments announced that UT Southwestern Medical Center has signed an 180,000 SF lease project Pegasus Park a life sciences hub for North Texas. The Pegasus Park campus has 750,000 SF in multiple buildings, including an 18-story tower. Constructed for Zale Corp. in 1970, it was bought by the former Mobil Oil Corp. in 1981. After being near vacant for more than a decade, J. Small Investments purchased the campus in 2015 from Exxon Mobil.


MESQUITE, Texas — Younger Partners’ John St. Clair and Jack Gail brokered the sale of almost 40 acres in Mesquite to Dalfen Industrial. The tract is on E. Scyene Road adjacent to the City of Mesquite Airport.  Dalfen Industrial, founded in Montreal, Canada, is one of the largest buyers of industrial real estate in the United States.


NACOGDOCHES, Texas — The Multifamily Group, a Dallas-based commercial real estate brokerage firm, recently sold Woodland Trails, made up of 72 units in Nacogdoches, Texas. TMGManaging Director  Evan Burke worked with the California-based seller and procured the buyer. The purchaser was Gold Star Capital, and the seller was Hermosa Land Investment III, LLC.


ALLEN, Texas – The Allen Economic Development Corp.  announced that JaRyCo’s 135-acre development, The Farm, which is set to break ground in early 2021, will include a 2.6-acre food and beverage-focused entertainment venue called The Hub. This comes as the city’s 121 Corridor, a 5-mile stretch along State Highway 121, now includes 900 acres of planned development, with 2.5 million SF soon underway or recently completed.


ARLINGTON, Texas — Sublett Holdings, LLC, has sold a 5,040 SF retail building on 0.63 acres at 1235 W. Sublett Road, Arlington, to P&E Groot Family Trust. Shane Benner of Bradford Commercial Real Estate Services represented the seller. David Newton of DFW Lee & Associates represented the buyer.


AUSTIN – JLL Capital Markets  handled the sale of the 225-unit Broadstone Crossing Apartments in Austin.. JLL worked on behalf of the seller to complete the sale to the buyer, Langdon Street Capital. The JLL Capital Markets team representing the seller was led by Sean Sorrell along with Joe Dowdle and Ryan McBride.


Carrollton — Deal Ark LLC has leased 5,555 SF of flex space at 2425 McIver Lane, Carrollton, from 2425 McIver Ltd. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Susan Singer, executive vice president, represented the landlord. Corbin Blount of DFW Lee & Associates represented the tenant.


DALLAS – Younger Partners Managing Principals Scot Farber and Tom Strohbehn wrapped up 2020 by brokering three property sales totaling more than 421,896 square feet in the fourth quarter. Their total for the year was 705,254 SF.

NATIONAL — RNR Real Estate Briefs

FORT WALTON BEACH, Fla. — Marcus & Millichap  handled the sale of Madison Parc, a 108-unit apartment property in Fort Walton Beach, Fla., said David G. Bradley, regional manager of the firm’s Tampa office. The asset sold for $16,850,000.


SAN DIEGO, Calif. – JLL Capital Marketsannounced it has closed the $37.35 million sale of Torrey Hills Medical Plaza, a 47,596-square-foot, Class A medical office location and attached parking garage in San Diego, Calif. JLL represented the seller, Virtus Real Estate Capital and Coast Income Properties, in the sale of the property to a publicly traded real estate investment trust in the year-end transaction.


CHARLOTTE, N.C. — JLL Capital Markets announced it has closed the $11.2 million sale and arranged the financing for a 149,550-square-foot logistics facility fully occupied by an investment-grade tenant at 6801 Augusta Road in Greenville, S.C. JLL worked on behalf of the seller, Dexter Companies and Silver Cap Partners, and Equity Industrial Partners purchased the asset.


CHICAGO –  Berkadia has acquired Moran & Co., a Chicago-based apartment brokerage.


Jan. 16, 2021 Realty News Report Copyright 2021


File: RNR Real Estate Briefs


Caption: New Block 162 Tower in Denver in 2020. Photo courtesy Patrinely Group

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