RNR Real Estate Briefs – HOU, SAT, DAL & more

RNR Real Estate Briefs from Realty News Report – HOUSTON – CBRE announced that Clark Hill, an international full-service commercial law firm, will be relocating its Houston office from 2 Houston Center to 18,368 SF in the 71-story 1000 Louisiana Street tower in downtown. Warren Savery and Marilyn Guion with CBRE represented the landlord and Steve Burkett with JLL and Michael Webber with Advocate Real Estate Advisors represented Clark Hill. … Said Marilyn Guion, Senior Vice President at CBRE: “The addition of Adair Downtown, a full-service restaurant, and the all-new private tenant lounge and club, The Founder’s Room, played a key role in attracting Clark Hill to 1000 Louisiana.”

KATY, Texas — Miami-based American Wire Group leased 29921 Medline Lane in Katy. The 205,200 SF facility will enable Florida-based AWG to expand its manufacturing and distribution capabilities to a broader client base. Andrew Brod and Grant Pruitt of Whitebox Real Estate represented American Wire Group.

HOUSTON — Colliers announced the sale of a 73,019 SF low-rise office building on 4.6 acres at 550 Greens Parkway in Houston. The seller, Montco Lots, was represented by David Carter of Colliers. Some 9,950 businesses are located within a five-mile radius of the building.

THE WOODLANDS — Greg Usher of Cypressbrook Company represented Shrieve Chemical Company, which leased an extension of 18,819 SF at 1442 Lake Front Circle in The Woodlands. Norm Munoz of Colliers represented the landlord, Woodlands-Sarofim #1, LTD.

RICHMOND, Texas – Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced tthe sale of Granary Flats, a new 324-unit multifamily asset in the Harvest Green master planned community. “Located 10 miles west of Houston in Fort Bend County, Richmond is projected to remain one of the fastest-growing counties in the United States,” said Greg Austin of IPA. The IPA sales team of Greg Austin, Jennifer Campbell, Travis Austin, Avery Klatt, and Will Balthrope represented the seller, Allied Orion Group, and procured the buyer, Aspen Oak Capital Partners.

HOUSTON – Vitalyc MedSpa leased 2,510 SF in BLVD Place at 1800 Post Oak Blvd. The tenant was represented by Tyler Trevino and Chris Reyes of Shop Companies and the landlord was represented by Elise Weatherall of Wulfe & Co.

CONROE, Texas – Kimberly DeVos of Cypressbrook Company represented the tenant, Pegasus NGV Trucking, LLC, and the landlord, 610 Town, LP, in the leasing of 1,700 SF of office space on West Lewis Street in Conroe.

WEBSTER, Texas – Pasadena-based culinary entrepreneur Dena Baughman, will open Water Oak Café & Bakery at Baybrook Passage Shopping Center in Webster. Baughman leased 3,053 SF with a patio at 19435 W. Bay Area Blvd. The tenant was represented by Wade Greene and Hannah Tosch of Colliers Houston, and Danny Miller represented the landlord, Gulf Coast Commercial Group.

CYPRESS, Texas – George Montes of Cypressbrook Company represented AEIS Real Estate, LLC, in the purchase of 1.5 acres at Fry Road and Longenbaugh. The seller, Sugar Land 6, LTD, was represented by Amy Silvey of Clay & Co.

HOUSTON — Partners Real Estate arranged a 18,700 SF lease for Power Temp Systems at 1626 Central Park Drive. Partners’ Jon Silberman and Pierce Beyer represented the tenant. Transwestern’s Craig Bean represented the landlord, Arden Logistics Parks.

MAGNOLIA, Texas — Versal announced the sale of Big League Storage in Magnolia, Texas, 42 miles northwest of Houston. The property has 129 units totaling 22,800 NRSF. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented Big League Enterprises, LLC, a Spring, Texas-based seller. The team also procured the Raleigh, N.C.-based buyer, 10F Pursuit, LLC.

NEW CANEY, Texas — Partners Real Estate arranged the sale of a 36,240 SF industrial property on 9.30 acres of land at 22216 McCleskey Road in New Caney, within the Houston–The Woodlands–Sugar Land metropolitan area. Partners’ Zane Carman and Clay Pritchett represented the buyer, Quality Linings & Fabrication Inc. The seller was represented by Pamela Morales with Keller Williams Commercial.

HOUSTON – Cushman & Wakefield arranged a 8,000-SF lease on behalf of Hindsight Investments with tenant COUNTUP Professional Services at 6516 Foster Street in Houston. Michael “Mike” Pittman II and Jack Sullivan of Cushman & Wakefield represented Hindsights Investments, the landlord.

TEXAS — RNR Real Estate Briefs from Realty News Report

TEMPLE, Texas — The Woodmont Company, a national real estate firm specializing in retail property transactions, has secured a lease with Floor & Decor for 63,000 SF of retail space at Temple Mall, a 514,915 SF regional development at 3111 S. 31st St. in Temple, Texas. The new store is scheduled to open in the third quarter of 2023. Jake McCoy of The Woodmont Company represented the landlord, Temple Mall Realty Holding, LLC. Floor & Decor was represented by Bryan Dabbs of BKD Realty.

DALLAS – Ecobat leased 28,258 SF in PwC Tower at 2121 Pearl St., a 20-story, 500,000 SF office tower. Rick Hughes and Joel Zandstra of Cushman & Wakefield represented the tenant. Ben Davis and Harlan Davis of CBRE represented PwC, the sub-landlord. MetLife is the master landlord.

RICHARDSON, Texas – McCarthy Building Cos. has moved their Dallas office to a new location at 3400 N. Central Expressway in Richardson.

SAN ANTONIO –– Partners Real Estate, the company formerly known as NAI Partners, announced that Providence Commercial Real Estate Services, a long-established San Antonio commercial real estate firm, has been acquired by Partners Real Estate. Steve Garza, Dan Gostylo and Phil Crane —Providence’s founders — have joined Partners Real Estate as partners.

SAN ANTONIO – Florida-based IRAS Group acquired the Courtyard by Marriott and Fairfield Inn & Suites SeaWorld/Westover Hills hotels in San Antonio.. David Perrin, Senior Vice President of Hunter Hotel Advisors, arranged the sale on behalf of the seller.

SAN ANTONIO – RockFarmer Properties, based in New York City—and Old Three Hundred Capital, an Austin-based multifamily operator— announced the acquisition of Estates at San Antonio, a 104-residence cottage-style student housing development in San Antonio at 6901 San Pedro Avenue. Casey Schaefer & Michael Wardlaw of CBRE handled the sale. Financing was arranged by Austin-based Keystone Bank. RockFarmer Properties plans additional acquisitions of value-add multi-family assets across the Dallas-Fort Worth, Austin, and San Antonio. Tad Brittingham is VP of Acquisitions at RockFarmer.

NATIONAL — RNR Real Estate Briefs from Realty News Report

PINECREST, Fla. — Miami-based Limestone Asset Management, via a joint venture with Orion Real Estate Group, purchased the 188,000 SF Colonial Palms Plaza on South Dixie Highway in the Pinecrest area of Miami for $70 million. Kevin Sanz, president of Orion Real Estate Group, led the buyer group. Eric Williams of JLL represented the seller, MetLife Investment Management. Goldman Sachs is providing financing

RALEIGH, N.C. — Brazos Residential, LLC, a Dallas-based real estate private equity firm specializing in multifamily investments, announced the acquisition of the 280-unit Chelsea Apartments in Raleigh, NC. Brazos holds more than 2,700 multifamily units across the Sun Belt, predominately in Texas and North Carolina.

PHOENIX, Ariz. – Cushman & Wakefield has brokered the sale of a 99-room Hampton Inn hotel asset in Phoenix. Located at 160 W. Catalina Drive, the property was sold to locally based Mango Tree, LLC, for $16.25 million

ETC. — RNR Real Estate Briefs from Realty News Report

NAI Robert Lynn expands with new Houston office

HOUSTON — NAI Robert Lynn CEO George Dutter announced the opening of a Houston office while, at the same time, forming a joint venture with Chicago-based Hiffman National to serve the commercial real estate requirements in America’s fourth largest city, Houston. NAI Robert Lynn is actively seeking a leadership team in Houston to recruit brokers and expand the firm’s services to the Bayou City.

Dallas-based NAI Robert Lynn also has an office in Fort Worth, which has grown by 1,400 percent since opening in 2011. The company serves commercial property owners, investors and occupiers with industrial, office and retail leasing, investment sales, call centers and site selection services.

Chicago-based Hiffman National already has a presence in Houston and manages 4.7 million SF of commercial property made up of 30 buildings and 419 tenants in its Houston portfolio. The firm also has a project management team in Houston and provides tenant and landlord construction services.

Nationwide, Hiffman National manages more than 130 million SF of commercial property in 27 states, largely for institutional investors. That portfolio is comprised of some 1,110 buildings. In the past two-and-a-half years, Hiffman National has expanded its portfolio of managed assets by more than 40 percent.

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Common Desk opens new Houston area location at City Place in Spring

SPRING, Texas — Common Desk, a Texas-based co-working and hospitality company, has grown to 22 locations — and counting — in Dallas, Houston, Austin, Wilmington and Raleigh. The newest site, Common Desk City Place in Spring offers more than 25,000 SF of workspace across the first and second floors.

“As Common Desk continues to grow into experiential assets across Houston, City Place became the clear choice for a suburban location in Spring,” said Dawson Williams, head of real estate at Common Desk.

“This is the second location we’ve opened with Common Desk in the Houston market,” said Dennis Tarro, executive vice president and principal of Patrinely Group, part of the joint venture that developed City Place.

Photo credit: 1000 Louisiana. Courtesy CBRE

File: RNR Real Estate Briefs

RNR Real Estate Briefs are published by Realty News Report