HOUSTON – (RNR Real Estate Briefs) – Banorte Securities International, Ltd. signed a 10,000-SF headquarters lease in the Galleria Financial Center, a 12-story office tower in the middle of the Galleria mall. Win Haggard, Brad Beasley and Cameron Colvill of Cushman & Wakefield represented the building ownership, affiliated with Azrieli Group and Unilev Management in the lease transaction.
HOUSTON – Sheffield and Sheffield signed a lease for 20,000 SF at Woodforest Shopping Center, 11081 East Freeway. Shawn Ackerman and Jason Du with Henry S. Miller Brokerage in Houston represented the tenant and the landlord, Woodforest Mini-City Partners, LLP.
HOUSTON — Herman & Kittle Properties is opening a new, 264-unit affordable apartment community – The Vireo — in Houston. The new rentals are on the northeast side, at 12212 Tidwell Road near Texas State Route 8 and the Crosby Freeway. The $38.5 million development is scheduled for completion in November.
HOUSTON — Gibbs & Cox, Inc. ,a naval architecture and marine engineering firm, announces the expansion of its services into Houston. The office will be led by Todd Carrico. Employees will work from home, though Gibbs & Cox intends to open a physical location in Houston once the COVID-19 pandemic recovery is under way.
HOUSTON – Weingarten Realty reports construction on its 30-story residential tower, the Driscoll at River Oaks, is nearly complete, and 25% of apartments are currently leased. The $150 million, 318-unit development is in the River Oaks Shopping Center on West Gray Street near Shepherd Drive. The tower was designed by Ziegler Cooper Architects.
Texas
AUSTIN — NAI Partners, a Texas-based, privately-held commercial real estate firm, announced it has arranged the sale of the Davenport 360, a 37,500 SF Class A office property at 6001 Bold Ruler Way in Austin, Texas, to Pharmacists Mutual Insurance Group. NAI Partners represented the insurance group, and the seller was represented by Cushman & Wakefield.
AUSTIN — Partners Capital – the investment arm of NAI Partners – announced it has closed on Trails at 620, a retail property at 8300 N. FM 620 in Austin, Texas. The Partners Capital team worked with Drew Fuller at JLL to close the deal, with financing provided by Peyton Jones at Veritex Bank. Partners acquired seven of the 17 buildings at Trails at 620, which consists of 69,037 SF on 15 acres.
AUSTIN – Trendmaker Homes, a member of TRI Pointe Group, acquired 152 lots in Leander, Texas in the Bar W Ranch master-planned community. The new single-family homes on 41’, 50’ and 60’ homesites will offer Hill Country views and riverfront frontage.
BRYAN, Texas – Rapid Express Car Wash has snapped up an outparcel in a Walmart-anchored shopping center as its 13thlocation in south-central Texas and third in the Bryan-College Station metropolitan market. The Houston-based car wash operator has purchased a 0.9-acre pad site at 1632 W. Villa Maria Road in the 652,522 SF Rudder’s Landing in Bryan from developer Crossfulton Investments Ltd. J.J. McDermott of Houston-based NewQuest Properties represented the buyer, who is planning to break ground within 90 days.
MIDLOTHIAN, Texas — Ground was broken for Jordan Run Estates Phase IV, a ranch estate offering 74 one-acre home sites near Midlothian, Texas. HSM Jordan Run Estates IV, LLC, purchased the 99-acre property off Norrell Road and Katrina Run, south of FM 875. Carnegie Homes and Elmwood Custom Homes are featured builders. Lots are scheduled for delivery in fall 2021.
Pacific Premier Bank has sold a 10,000 SF retail building on 1.11 acres in 1751 Eastchase Parkway, Fort Worth, to J-S Woof Enterprises Inc. Richmond Collinsworth and Leigh Richter of Bradford Commercial Real Estate Services represented the seller. Dawn Sumrall of Keller Williams Arlington represented the buyer.
DALLAS — Crescent Real Estate, LLC, has transformed 2401 Cedar Springs in Uptown Dallas into a “new building.” Crescent and JLL are leasing the full 200,000 SF of reinvented space complete with COVID-19 protections in the building at Cedar Springs Road and Maple Avenue. Architecture by Corgan.
Ship It AOG, LLC, has renewed its lease for 14,000 SF of flex space at 4309 Lindbergh Drive, Addison. Brian Pafford and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, 4301-21 Lindberg Limited.
SAN ANTONIO– NorthMarq arranged acquisition financing of $24.6 million for The Park on Wurzbach, a 264-unit multifamily property at 4707 Wurzbach Road in San Antonio. NorthMarq arranged the 10-year financing for the borrower, Venterra Realty, through its in-house Fannie Mae team. Originating producers included Faron Thompson, Ali Meek and Matthew Bronstein.
ALLEN – Kidz Therapy Zone renewed a 3,197 SF lease for the Office Campus at Allen Building 2, 1101 Central Expressway S., Allen, Texas. Jared Laake and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, 1101 SCE, LLC. Kent Smith of NAI Robert Lynn represented the tenant.
National
NEWPORT BEACH, Calif – Commercial real estate services firm Lee & Associates announces that the 24,600 SF industrial building at 625 S. Fee Ana St. in Placentia sold for $5,227,500. The buyer, PKR Investments, was represented by James deRegt and Jonathan Mejia of Lee & Associates – Newport Beach. The seller, Temporary Power Solutions, was represented by Keith Greer of CBRE.
BOSTON —Allianz Real Estate, acting on behalf of several Allianz Group companies, has signed an agreement with a joint venture partnership between Clarendon Properties and a fund managed by BlackRock, to refinance a loan on 265 Franklin St. amounting to $150 million. The building in Boston’s Financial District is 21 stories tall. The 350,534 SF property is a free-standing office tower.
ORLANDO, Fla. – Marcus & Millichap handled the sale of MetroWest Center, a 28,282 SF office building in Orlando. The price was $7,350,000.
MURRIETA, Calif. —Lee & Associates completed a long-term lease with Floor & Décor for about 81,100 SF of retail space at Murrieta Town Center at 39835 Alta Murrieta Drive in Murrieta. Brian Bielatowicz and Ted Rivenbark, from the Lee & Associates Temucula Valley office, represented the landlord, Murrieta Town Center Retail Owner, LP. The tenant was represented by Jeff Nichols and Ryan Sullivan of CBRE.
NEW YORK – Taconic Partners and Nuveen Real Estate announced plans to redevelop 125 West End Ave. into a state-of-the-art life science building. 125 West End Ave. is an eight-story, 400,000 SF building originally constructed as an automotive facility by Chrysler.
DENVER — Oak Coast Properties announced it has arranged a $123.5 million acquisition of ArtWalk Apartments at City Center, a 438-unit transit-oriented apartment community in Englewood, Colo. JLL Capital Markets arranged a Freddie Mac Optigo loan of about $87 million on behalf of Oak Coast Properties for its acquisition. Financing was led by Charles Halladay, Brock Yaffe, Rick Salinas and Matt Cimino. Jordan Robbins and Pamela Koster with JLL represented the seller.
ROSEMONT, Ill. – Nick Eboli and Andrew Block at Lee & Associates’ Illinois office, represented owner DRA Advisors on a long-term lease of 51,277 SF in Naperville. Michael Magliano of Cushman & Wakefield represented the tenant, ASK Products, Inc. … Additionally, Eboli & Block, along with Walter Murphy, brokered a lease of 36,360 SF in Naperville. The Lee team represented the owner, while John Hamilton of CBRE represented the tenant, D2K Traffic Safety. … In addition, Farnam of Lee & Associates represented the owner of 770 Hawthorne Lane on the lease of 8,162-SF to Pro-Safety, represented by Mikus Kin of Be Commercial Realty.
INTERNATIONAL
Lincoln Rackhouse, Sprott Korea Investment Acquire London Data Center (Note: Lincoln Property Co.)
DALLAS – In its first venture outside the U.S., Lincoln Rackhouse, data center division of Lincoln Property Co., has partnered with Sprott Korea Investment on the acquisition of 145,000-SF data center in London’s data center submarket of Camberley.
The data center transaction is a partial sale-leaseback with a Fortune 100 financial institution, which has signed a long-term lease for 50% of the facility. Lincoln Rackhouse will lease the remaining space and capacity to enterprise users or a data center operator.
“We are very proud of the data center portfolio we’ve built in the United States. By adding a quality asset like this in London, one of the world’s top data center markets, we are taking our data center platform to new heights,” says Martin Peck, executive vice president and leader of Dallas-based Lincoln Rackhouse.
Oct. 31. 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs
Caption: Houston skyline. Photo credit: Ralph Bivins, Realty News Report. Copyright 2020.
File: (2) Houston, Dallas, Austin. San Antonion. Transactions. RNR Real Estate Briefs 2020