HOUSTON – (RNR) –TFH Reliability Group has signed a new lease for 14,861 SF in the Sam Houston Crossing II building. Transwestern’s Doug Little, Louann Pereira and Matthew Seliger represented the landlord, Buchanan Street Properties. Patrick Wolford and Travis Taylor of Lee & Associates and Robert Parsley and Chris Nash of Colliers International represented the tenant. The 159,000-SF building is located at 10344 Sam Houston Park Drive in suburban Houston.
Houston-based Veritas Title Partners, LP, has signed a 7,011 SF lease in recently completed 200 Park Place building at 4200 Westheimer Road within the Park Place River Oaks development. The office be the firm’s new headquarters. Serving residential and commercial customers nationwide,Veritas Title Partners is led by CFO Michael Knudsen and COO Sandra Paige. Senterra Real Estate Group, LLC’s Neil Tofsky and Kevin Tofsky represented Veritas Title Partners. Brad Beasley and Connor Saxe of Cushman & Wakefield led efforts on behalf of the landlord, Stonelake Capital Partners.
HOUSTON — Colliers International has announced the sale of a 132,000 SF distribution building at 6410 West Sam Houston Parkway North in Houston. David Carter and Jeff Peltier of Colliers International represented the seller in the transaction. The build-to-suit distribution building sits on 18.2 acres and is currently occupied by FedEx Ground.
NAI Partners arranged an 8,600 SF industrial lease for Viking Engineering at 4930 Dacoma St. in Houston. NAI Partners’ Alex Taghi represented the tenant in the transaction. Viking Engineering provides the upstream oil and gas industry with well construction design and analysis solutions.
Century Communities, a national homebuilder, acquired land for two new communities, one in Katy, named Aurora, and the other in Tomball, named Fairway Farms. The sites will create a total of 700 lots. Fairway Farms is at FM 2978 and Bogs Road in Tomball. Aurora is located at Peek and Beckendorff roads in Katy.
Hunt Southwest Real Estate is developing a 1 million SF industrial complex in the Cedar Port industrial park in Baytown. CBRE’s Jason Dillee and Nathan Wynne are leasing the spec development near the corner of FM 1405 and Borusan Road.
Vantage at Tomball, LLC, has purchased 15.92 acres at 9102 FM 2920 in Tomball from K. McGaughy FM 2920 LLC. Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the seller. Justin Patchen of Buffalo Real Estate Partners represented the buyer.
Painted Tree Marketplace has leased 41,462 SF in the First Colony Commons Shopping Center at 15425 Southwest Freeway and Williams Trace Boulevard in Sugar Land. Painted Tree Marketplace, based in Little Rock, Ark., is a retailing concept made up of hundreds of independent business owners selling clothing, accessories, home décor and one-of-a-kind gift items under one roof. The transaction was handled by Kristen Barker and Katherine Wildman of Wulfe & Co.
HOUSTON-based commercial real estate investment company MLB Capital Partners has announced the launch of its full-service, commercial real estate brokerage firm, MLB Commercial Real Estate (MLB CRE). After an eight-year stint at Avison Young, Todd Mason, Jeff Lindenberger and their team of real estate professionals amicably parted ways with the Toronto-based Avison Young to embark on this new venture.
The Blue Ox Group brokered the sale of the Popeyes at Interstate 45 & Woodridge Drive located at 7015 Gulf Freeway in Houston, Texas. Burdette Huffman and Josh Jacobs of The Blue Ox Group represented the seller.
Hartman Income REIT Management, Inc., a Houston-based commercial real estate firm, has broken ground on a 7,500 SF retail property at 17211 North Freeway in Houston. The development is adjacent to the Houston shopping center Hartman acquired in 2013 with the retail anchor tenant, Floor & Décor.
Rapidcare Emergency Room has leased a 6,580 SF freestanding building at the intersection of TX 146 and Fairmont Parkway, La Porte, from 4808 North McCarty, LLC. David Meyers and Bob Conwell of NewQuest Properties represented the landlord. Gloria IIochonowu of Keller Williams represented the tenant.
DX Electric Company renewed its lease for a 9,301 SF industrial space at the Four Seasons Business Park in Houston. Jack Gaffney and John Buckley of the Finial Group represented the landlord while Ryan Boozer and Lena Pierce with Stream Dallas represented the tenant in this transaction.
The Devasco International building in Tomball, an 84,195 SF industrial tilt-wall building at 1626 S. Cherry Streetwas purchased by the Welcome Group. It has 16,200 SF of office space.
Chipotle Mexican Grill leased 2,998 SF in Brazos Town Center at Interstate 59 and FM 762 in Rosenberg from NewQuest Properties. Bob Conwell and Austen Baldridger epresented the landlord. Traci Holman and Jason Baker of Baker Katz represented the tenant.
Restore Hyper Wellness & Cryotherapy has leased 2,331 SF of retail space in the Shops at Upper Kirby, 2715 Bissonnet St., Houston, from 2715 Bissonnet, LLC. Nick Ramsey of NewQuest Properties represented the tenant. David Ferguson of BPI Realty represented the landlord.
The Blue Ox Group brokered the sale of the Raising Cane’s at Interstate 45 & Woodridge Drive located at 7009 Gulf Freeway in Houston, Texas. Burdette Huffman & Josh Jacobs of The Blue Ox Group represented the seller. The Blue Ox Group is a boutique commercial real estate brokerage firm in Houston.
TEXAS – RNR Real Estate Briefs
RICHARDSON – Orlando-based Berkshire Property Holdings acquired a two-property, 568-unit apartment portfolio in Richardson, near Dallas, for $56.8 million. The properties are two adjacent 1979 vintage garden-style communities located on the 9900 – 10000 block of Walnut Street. William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns and Michael Ware of Berkadia handled the deal. Freddie Mac financing was arranged by Brian Eisendrath of CBRE.Berkshire plans to buy additional Texas multifamily, says company CEO and Co-Founder Zamir Kazi.
AUSTIN – Net Lease Development, LLC, has purchased a 1,500 SF Take 5 service center on 0.55 acres at 5400 Balcones Drive, Austin, from Edry B&K-7 GP. Marc Peeler of NewQuest Properties represented the seller. Randy Bell of Real Capital Investments represented the buyer.
ALLEN, Texas – The city of Allen, a northern suburb of Dallas, has seen more than 2 million SF of new commercial projects proceed this summer, according to the Allen Economic Development Council. The Allen Tech Hub will break ground in the next year, and a 200,000 SF office complex, One Bethany West, is now open. New companies in Allen include Crawford & Co., Highlands Residential Mortgage, Billings Productions and Brass Roots Technologies.
NATIONAL – RNR Real Estate Briefs
FULLERTON, Calif. – Lee & Associates announced the sale of a 48,234-square-foot freestanding industrial building located at 1456 Manhattan Avenue in Fullerton for $10,011,111 or $207.55 per square foot. Jim deRegt of Lee & Associates Newport Beach represented the seller, Kanaasardas, LLC and Byron Foss of JLL represented the buyer, Salher, LLC. The buyer acquired the property to complete a 1031 exchange and expand its business’s manufacturing capacity.
NEW YORK— JLL Capital Markets announced it has secured Dune Real Estate Partners as a joint venture equity partner and $105 million of predevelopment debt financing on behalf of Turnbridge Equities for Bronx Logistics Center, a 14.2-acre development site located at 980 East 149th St. in the Bronx, N.Y. The proposed center will be a 1.2-million SF, four-story, last-mile distribution facility featuring 70 loading docks.
MURRIETA, Calif. – Lee & Associates closed a $4.9 million sale transaction on two multi-tenant industrial buildings, totaling 39,976 SF, located at 29980 Sky Canyon Drive and 29990 Technology Drive in Murrieta. Matt Shaw and Blake Valdez of the Lee & Associates Temecula Valley office represented the seller, Magnolia Industrial Park, LLC, and the buyer, Dunbar Investments, LLC, was represented by Charley Black and Gordon Mize also of the Lee & Associates Temecula Valley office.
JLL Capital Markets has arranged a $29.4 million refinancing for Alvista Golden Gate, a 200-unit, recently renovated, multifamily housing community in Naples, Fla. The property is located in the Golden Gate area of Naples and is 95 percent leased. The loan is a 12-year, fixed-rate Fannie Mae advance made through the Green Financing program.
Armada Hoffler Properties, Inc. has entered into a joint venture with Terwilliger Pappas to develop Solis Gainesville in Gainesville, Ga., about 50 miles from Atlanta. The $52 million, 223-unit multifamily development is located in downtown Gainesville, said Louis Haddad, president and CEO of Armada HofflerP roperties.
MIAMI BEACH— Real estate developer Michael Shvo has won approval from the Historic Preservation Board of the City of Miami Beach to move forward with the three-acre master plan development of The Raleigh Hotel, together with the South Seas and the Richmond, located on Collins Avenue and 18th Street in Miami Beach. The plan includes construction of a new 175-foot oceanfront residential tower. “The Raleigh Hotel is the crown jewel of Miami Beach,” said Shvo. The Raleigh Hotel was purchased from Tommy Hilfigerin February 2019 for $103 million.
Sept. 12, 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs