HOUSTON – (RNR Real Estate Briefs from Realty News Report) – Stonelake Capital Partners purchased a 238,000-SF last mile warehouse facility leased by Amazon in the Energy Corridor of West Houston. The seller was a joint venture between Transwestern Development Company and UBS Realty Investors, was represented by the JLL capital markets team of Rusty Tamlyn, Trent Agnew and Charlie Strauss. Stonelake also acquired an adjacent 14 acres, a deal handle by Brian Gammill of Transwestern.
SUGAR LAND – Colliers International announces the sale of Colony Place, a 14,050 SF shopping center at 4403-4411 Highway 6 in Sugar Land. The buyer, DML Colony LP, was represented by Anita M. Amin of Preston Cunningham Ventures, LLC. Ace Schlameus and Jenny Seckinger of Colliers International represented the seller, Hass Holdings, LLC.
HOUSTON — Regent Properties and Transwestern Real Estate Services announce that Ryan, LLC, has leased 66,750 SF at Park Towers, 1233 W. Loop S. in Houston’s Uptown/Galleria submarket. Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern provided agency leasing services on behalf of the landlord, Regent Properties. Park Towers is a Class A, 545,242 SF office property comprised of two 272,621 SF, 18-story buildings.
FRIENDSWOOD – The Burger Joint leased space in front of Baybrook Mall for a new restaurant to open this year. Chris Reyes and Tyler Trevino of ShopCos represented Burger Joint. Elise Weatherall of Wulfe & Co. represented the landlord.
The U.S. Veterans Administration has leased a 9,600-SF freestanding building in Midtown Houston at 1701 Webster. Fred Ghabriel of Bejjani & Associates represented the landlord, 1701 Webster Ltd. The building, constructed in 1984, will be used as a VA Community Resource and Referral Center.
Kiddie Academy Educational Child Care broke ground on a location at 13909 Mandolin Drive in Cypresswood. Opening of the 10,500 SF, build-to-suit daycare property is planned for early 2021. Kiddie Academy will be owned and operated by Cami Dinh and Taun Le. Maury Bronstein and John S. Wall Jr. of 1912 Ventures represented Kiddie Academy and Dallas-based Woodmont Land Company worked on behalf of the buyer/developer. Greg Slusky of Sluco Realty Services represented the seller, Lakhany Holdings LLC.
Houston Realty Advisors, Inc. recently arranged a 4,326 renewal and expansion for Houston Allergy and Asthma Clinic to the 14th floor in the 1200 Binz office/medical Park Plaza Tower. HRA, Inc.’s Ed A. Ayres represented the tenant Jason Cheeks of Healthcare Trust of America, Inc. represented the landlord.
Caplan Surgery Center renewed a lease for 4,995 SF of space at 3100 Weslayan in Houston for four years. Daper, Inc., dba McAlpine Interests, represented the tenant and Richard Maloof represented the landlord, Hartman Income REIT.
HOUSTON – Doc Perrier, Jason Gibbons and Jack Gaffney with Finial Group represent the owner of Independence Business Park at 6811 McHard Road in Houston. The development project will offer seven freestanding crane capable buildings ranging from about 17,025 to 50,000 SF in a master-planned industrial park. Andrew-Jordan Industrial, LLC, represented by Chris Caudill with NAI Partners, represented the purchaser of building 1 that consists of 17,025 SF.
HOUSTON — JLL’s Chris Wadley and Mallory Douthit will market and lease 6624 Fannin Tower in the Texas Medical Center. Owned by Texas Children’s Hospital, the 27-story building widely recognized by its iconic twin spire-topped octagonal towers, was built in 1991. It features almost 450,000 SF of medical space and is home to nearly 30 institutional and private practices.
Berkeley Eye Center rextended its 20,750 SF lease at 3100 Weslayan in Houston for four years. Daper, Inc. dba McAlpine Interests, represented the tenant and Richard Maloof represented the landlord, Hartman Income REIT.
Circulus Holdings leased 3,221 SF at 1400 Broadfield Blvd. in Houston for six years. Tommy Wilson, with Fitsche Anderson Realty Partners, represented the tenant and Ami Fig represented the landlord, Hartman Income REIT.
FORT WORTH, Texas – KRS Realty Advisors has completed a two-building renovation project that brings 12,000 SF of fully-modernized office and retail space to the historic Fort Worth Stockyards in Fort Worth. Stream Realty is leasing the property. The first tenant is Austin-based western brand Tecovas which leased 3,474 SF. This will be the flagship location for Tecovas in Fort Worth.
LIVE OAK, Texas – Miami, Florida-based Atlantic Pacific Companies (A|P) announce the acquisition of the 378-unit Mira Loma Apartments in Live Oak, Texas,near the intersection of I-35 and Loop 1604. The property marks A|P’s fourth acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III (BAP III). With this acquisition, A|P now has more than 5,000 units in Texas.
ALLEN, Texas – JaRyCo, an Allen-based developer, has announced its partnership with the Johnson family to develop their family farmland into a mixed-use property at the southeast corner of Sam Rayburn Tollway and Alma Drive in Allen. The property, previously proposed to be the Strand development, has been in the Johnson family since 1964 and will be transformed into The Farm in Allen, a 135-acre mixed-use development. It will include more than 1.6 million SF of office, 142,000 SF of retail, a 150-key hotel, 60,000 SF of restaurants, townhomes and 2,400 urban residential units. Infrastructure construction is expected to begin in late 2020.
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 on 55-foot lots.
AUSTIN — Carter Breed of CBRE will represent the Galesi Group in the marketing of 700 acres of land within the Harris Branch development in Northeast Austin. The Galesi Group acquired more than 1,500 acres in Harris Branch in 1996.
DALLAS – Crescent Property Services, LLC and J.P. Morgan Asset Management announce a lease renewal with Stanley Korshak, Dallas’ independent specialty emporium with deep roots at The Crescent, a prestigious office space featuring three connected office towers surrounded by luxury retail and the five-star Hotel Crescent Court. The renewal continues Stanley Korshak’s original presence in the 51,191 SF retail space located on the first and second floors of The Crescent Atrium. Oil heiress Caroline Rose Hunt bought the Stanley Korshak name from a luxury goods store founded in Chicago in 1909. She opened Stanley Korshak as a designer clothing store in the courtyard of shops at Hotel Crescent Court in 1986. Stanley Korshak is the original and remains the prime retail anchor in The Crescent, a 1.3 million SF office and mixed-use development in Dallas’s Uptown.
Evolve Scholastic Inc. has leased a 12,000 SF office/warehouse at 8920 Premier Row, Dallas, from 462 Thomas Family Properties, LP. Richmond Collinsworth of Bradford Commercial Real Estate Services represented the tenant. Kevin Conlon of Gillis Thomas Co. represented the landlord.
Camera Ready Cosmetics has leased 7,223 SF of flex space in Alpha Business Park, 4300 Alpha Road, Farmers Branch, from Kennington Alpha Business Center, LLC. Brian Pafford and Susan Singer of Bradford Commercial Real Estate Services represented the landlord. Sarah Kennington and Bryce Jackson of Thirty-Four Commercial represented the tenant.
Quality Biomedical has leased 4,500 SF of office/warehouse space at 1208 Tappen Circle, Carrollton, from CCG Valwood, LP. Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord. Danny Muse of Tenant Base represented the tenant
SALT LAKE CITY — A development venture launched by Houston-based Patrinely Group and USAA Real Estate has started construction on 650 Main, a 10-story, 332,100 SF, Class A office and retail development at the corner of Main Street and 600 South in downtown Salt Lake City.
NEW YORK — B+E, the first brokerage and technology platform for net lease real estate, has announced the sale-leaseback of 17 7-Eleven store properties for $71,500,000. The NNN properties total 17.373 acres. The buyer is a private fund.
MEMPHIS, Mich. -– Austin Hull of Greystone Bel recently closed the sale of Belle Terrace Apartments, a 37-unit multifamily property in Memphis, Mich., for $1,500,000 or $40,540 per unit.
MARIETTA, Ga. — Greystone Brown Real Estate Advisors has announced the closing of the $31,200,000 sale of a multifamily property in Marietta, Ga. Greystone Brown represented both the seller, Wilkinson Corporation and buyer, Asset Development and Management Group, LLC, in the deal. The Greystone Brown team included Jim Jarrell, Cory Caroline Sams, Chandler Brown, Walter Miller, Taylor Brown and Bo Brown. The 222-unit project is located at 880 South Cobb Drive.
SAN MATEO, Calif.– A prime parcel of 11 acres strategically positioned between San Francisco and Silicon Valley has been purchased by Pulte Homes for redevelopment into a residential neighborhood of 190 homes, said Cameron Fowler of The Hoffman Company, who brokered the transaction. Public records list the price at $106 million. The property, formerly an underutilized office complex known as Waters Technology Park, was built in 1979.
July 18, 2020 Realty News Report Copyright 2020
File: RNR Real Estate Briefs