HOUSTON – (RNR Real Estate Briefs from Realty News Report)– Colliers International announces the sale of Midstream Business Park, a 23,657 SF flex building at 2830 FM 565 in Mont Belvieu, Texas. The buyer, Kimberlee Partners LP, was represented by Hart Schleicher of Capital Real Estate Commercial, Inc. Judd Harrison and Jason Tangen of Colliers International represented the seller, Bellwether Interest, LLC, in the transaction. Midstream is a fully leased, deed-restricted business park.
McDonald’s and Express Oil Change have each ground-leased a one-acre pad site in the Grand at Aliana, located at Grand Parkway/TX 99 and West Airport Boulevard, Richmond, Texas, from NewQuest Properties. Josh Friedlander and David Meyers of NewQuest represented the landlord. McDonald’s represented itself. Greg Sluco of Sluco Realty Services represented Express Oil Change.
CLEAR LAKE CITY – Spirit of Texas Bancshares, Inc., the holding company for Spirit of Texas Bank, has announced the bank has entered into a branch purchase and assumption agreement to sell its Clear Lake, Texas, branch to Moody National Bank of Galveston.
HOUSTON — NAI Partners recently arranged a 7,613 SF retail lease for Sally Beauty Holdings, Inc. at 3040 FM 1960 East in Houston. NAI Partners’ Patrick Keegan and Jason Gaines represented the landlord in the transaction.
MBC, LP secured a sublease in a 16,350 SF industrial space at 5111 Milwee Street in Houston. Finial Group’s Doc Perrier represented the sublessor. Travis Land with NAI Partners represented the sublessee.
Justin Harrity represented the landlord, Hartman Income REIT, in several leases at 5151 Mitchelldale in Houston for a total of 28,530 SF. Represented by Jones Lang LaSalle, A Better Tripp Moving and Storage renewed a 13,200 SF lease for five years. Geoshack expanded to 8,618 SF in a five-year lease. Synthetic Oils & Lubricant renewed a 6,712 SF lease for five years.
HOUSTON — NAI Partners recently arranged the sale of 16643 Telge Road — a 6,000 SF industrial property — on behalf of seller JDFM Telge Jared Clayton, LLC to GKCG Properties, LLC in Houston. NAI Partners’ Travis Land and AJ Williams represented the seller in the transaction. The buyer was represented by Jared Clayton.
Boltera, LLC has leased a 3,826 SF property at 1880 S. Dairy Ashford Road in Houston for three years. Kacie Skeen represented the landlord, Hartman Income REIT.
TEXAS
Lewis Logistics leased 15,518 SF at Gateway 161 Corporate Park, 4500 W. Walnut Hill Lane in Dallas. Bob Hagewood and Jeremy Kelly with Stream Realty Partners represented the landlord, Hines Interests. TenantBase, Inc. represented the tenant.
AUSTIN – Rastegar Property Company has acquired The Edge at SoCo, a 35-unit, garden-style multifamily complex in the Buckingham Ridge neighborhood of South Austin. The development is 94% occupied.
LAREDO — Berkadia announces it has arranged the sale and financing of Lago del Mar Apartments, a 260-unit, garden-style rental community at 7550 Country Club Drive in Laredo, Texas. Ryan Epstein of Berkadia’s Houston office, along with Mike Miller, Will Caruth and Cody Courtney of Berkadia’s San Antonio office, represented the seller, a Chicago-based real estate investment management firm. Cutt Ableson of Berkadia’s Houston office procured financing for the buyer, Haley Real Estate Group, through Fannie Mae.
Lune Rouge Entertainment USA Inc. leased 37,896 SF at 700 106th Street in Arlington, Texas. Sarah Ozanne and Luke Davis with Stream Realty Partners represented the landlord, Restaurant Services Inc.
HUTTO — BBVA leased 2,450 SF of retail space in Townwest Commons, located at TX 79 and CR 119 in Hutto, Texas, from NewQuest Properties. Meredith McLeod-Cobb of NewQuest represented the landlord. Cassie Watts of CRESA Global represented the tenant.
ORIX USA leased 10,766 SF at Trammell Crow Center, 2001 Ross Ave. in Dallas. Ramsey March, Sara Terry and Chase Lopez with Stream Realty Partners represented the landlord, J.P. Morgan Asset Management. Colliers International represented the tenant.
DALLAS — Younger Partners created a new platform to acquire retail properties. Called Younger Partners Investments, it will target retail properties from lifestyle to neighborhood centers in the Dallas/Fort Worth Metroplex. Micah Ashford has been hired to lead the division.
Synergen leased 3,120 SF in Culebra Commons Phase II, 7010 W Loop 1604 N in San Antonio. Maury Bronstein and John S. Wall, Jr. of 1912 Ventures represented the tenant. Addison McAuley and Benjamin Dreszer of Fulcrum Property Group, Inc. represented the landlord, SLF IV – Culebra 1604 Investors JV, LP.
LUBBOCK — JLL Capital Markets has closed the sale of 3601 21st St., a 20,880 SF single-tenant, net-lease medical office property in Lubbock, Texas. JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute. The buyer was Los Angeles-based RealtyMogul. 3601 21st St. is fully leased to Covenant Health System, the dominant healthcare provider in the region and the largest health care institution in West Texas.
Touchstone Medical Imaging, LLC, has leased 8,446 SF at Parkway Centre III, 2745 Dallas Parkway in Plano, Texas. Matt Wieser and Ryan Evanich with Stream Realty Partners represented the landlord, Wolverine Interests. Evonne Keene with KW Commercial represented the tenant.
NEW BRAUNFELS — Trendmaker Homes, a member of the TRI Pointe Group, has announced its first home offerings at Meyer Ranch, a new master-planned community of about 700 acres, located in the northeast San Antonio metro city of New Braunfels. Trendmaker’s River Collection will comprise 47 single-family homes with one-, one-and-a-half and two-story home plans. Homes range in size from 1,923 SF to 2,986 SF with flex options enabling homes to exceed 3,000 SF. Prices start in the high $200,000s.
NATIONAL
TITUSVILLE, Fla.– National real estate developer North American Properties has acquired 21 acres within Titusville’s Riverfront Center development at the southeast corner of US 1 and NASA Causeway. The parcel is located at the entrance to Kennedy Space Center, between aerospace giants Boeing and Lockheed Martin. Preliminary phase one plans call for multiple buildings totaling 135,000 SF of traditional office, office warehouse and manufacturing space, plus commercial outparcels to serve the area market. This move marks the Cincinnati-based company’s first project on Florida’s Space Coast. More are planned.
PANAMA CITY BEACH, Fla.– Watermark Residential, a wholly owned affiliate of Thompson Thrift and a national multifamily developer, bought 17 acres in Panama City Beach. There, the company will develop Watermark at UrbanBlu, a Class A multifamily community with an expected completion date of April 2022.
CHICAGO, Ill. – Pearlmark announced it has closed on a $24.5 million mezzanine investment for the development of 300 N. Michigan Ave. in Chicago. The project will contain 289 residential units, 25,000 SF of flagship retail and 280 hotel rooms presold to citizenM, a Netherlands-based hotel chain. The sponsor is a joint venture between Sterling Bay and Magellan Development Group. The investment was originated by Pearlmark and made on behalf of Pearlmark Mezzanine Realty Partners IV, LP and Monroe Capital. A senior construction loan was provided by Bank OZK. JLL represented the borrower in securing financing.
July 25, 2020 Realty News Report Copyright 2020
Image: North American Properties
File: RNR Real Estate Briefs. File (2) RNR Real Estate Briefs HOU, DAL, AUS, SAT, MCO, ORD, PNS
