RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – THE WOODLANDS – NAES Corp., an independent services company that optimizes the performance, reliability, and efficiency of power generation facilities, leased 28,000 SF at 1725 Hughes Landing in The Woodlands for its new central region hub. Lucian Bukowski of Stream Realty Partners and Kip Durrell of CBRE represented the tenant. JLL represented the landlord, Howard Hughes Communities, the real estate platform of Howard Hughes Holdings. NAES is currently a subtenant at 1735 Hughes Landing.

HOUSTON – Gulf Coast Crating, in partnership with First Houston, acquired a 205,000-SF industrial facility on 12.5 acres at 4949 Windfern Road. The partners have acquired more than 1.1 million SF of industrial space in three transactions recently.

HOUSTON – Curbline Properties purchased a 5,950-SF retail project on 0.45 acres at 2400 N. Shepherd Drive. Dakota Workman of NewQuest represented the seller, 24th Street Market LLC.

THE WOODLANDS – Uni Sushi will return to The Woodlands at Grogan’s Mill Village Center in 2027. Led by owners Angel Barragan and Rosie Izaguirre, the restaurant at 7 Switchbud Place will span 3,500 SF with indoor seating for more than 230. Howard Hughes Communities is redeveloping Grogan’s Mill Village Center with a new Montgomery County Library and Community Center surrounded by shops, restaurants, and services. Uni Sushi closed its Market Street location in January.

HOUSTON – The Weston Group renewed a 5,173-SF lease at 10101 Southwest Freeway. Paul Viers of Oxford Partners represented the tenant. Matt Easterling of LandPark represented the landlord.

MANVEL – NewQuest has sold a 4,520-SF retail building, leased to McDonald’s, at 10421 Bailey Road, Manvel, in the Shops at Sedona Lakes to Frebo McD LLC. Dakota Workman of NewQuest represented the seller. Scott Rubenstein of Pipeline Realty represented the buyer.

HOUSTON – John Hornbuckle of Cypressbrook Co. represented Helix Technologies in the sublease of 10,800 SF of office and warehouse space at 6961 Brookhollow Drive. Alex Foley of Hughes Marino represented the sublessor, 360 Wraps, Inc.

Texas

AUSTIN – Transwestern has been selected by Barings to provide agency leasing and property management services for 100 Congress Ave., a 420,471-SF office tower in downtown Austin. Connor Atchley, Brandon Lester, Graham Trull, and Carly Langley will lead leasing efforts on behalf of the landlord. Tenants include Jackson Walker, Whistler Pipeline, Ryan, LLC, and Armbrust & Brown, PLLC. 100 Congress offers more than 40,000 SF of contiguous space and two move-in-ready spec suites.

SCHERTZ, Texas – Houston-based Boomerang Industrial, in a joint venture with Houston-based Marble Capital, has started site work for STX Frio, a 325,274-SF speculative cold storage warehouse at 22218 FM 2252 in Schertz, Texas. ARCO Design/Build is working on the project. JLL, led by Tim O’Rourke, Kevin Griffiths, Sage Rheinschild, Alcide Longoria and Mark Krenger, is leasing the project. Will Mogk of JLL arranged financing.

DALLAS – CBRE has secured a $380.2 million loan for the refinancing for a five-property, 1,549-unit multifamily portfolio on behalf of Crow Holdings. The financing was provided by AllianceBernstein and was arranged by CBRE’s Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman. The properties, all developed by Trammell Crow Residential in partnership with Crow Holdings, consist of Alexan Lower Greenville in Dallas, Alexan Braker Pointe in Austin, Alexan Waterloo in Austin, Alexan Julian in Denver, and Alexan Florence in Alexandria, Va.

DALLAS – Harkinson Investment Group purchased Tower 2600, a 229,307-SF office building at 2600 N. Central Expressway in Richardson. Gary Carr, Robert Hill, Chris Murphy, and Austin Sheahan of Newmark represented the seller, Development Ventures Group.

SCHERTZ, Texas – Miami-based Atlantic Pacific Companies, via its affiliate Blue Atlantic Partners, acquired The Palmera on 3009, a 288-unit apartment complex in Schertz, a suburb of San Antonio. The deal brings A|P portfolio to more than 100 properties, totaling over 22,000 units.

CARROLLTON, Texas – Bafang Dumplings leased 4,913 SF in Carrollton Town Center. Heather Nguyen of NewQuest represented the landlord. Rebecca Le, also of NewQuest, represented the tenant.

DALLAS – An Ares Real Estate fund acquired the Valwood Industrial Portfolio, a three-building, 254,105-SF portfolio in Dallas-Fort Worth’s Valwood submarket. The submarket is bordered by I-635, I-35E and the President George Bush Turnpike. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt, and Trevor Berry of Cushman & Wakefield represented the seller, Cohen Asset Management. Marq Logistics, an affiliate of Ares Real Estate, will manage the assets. The portfolio is 100% leased to seven tenants.

AUSTIN – Tri Pointe Homes has started construction on Noven, a 37-acre community planned for 107 homes in Leander. Phase one will include 48 homesites. Homes will range from 2,958 to 4,400 square feet on 70-foot lots.

MESQUITE, Texas – Newport Capital Partners acquired Towne Crossing, a 167,957-SF Kroger-anchored shopping center in Mesquite, from Phillips Edison & Co. Developed in 1985, Towne Crossing is 92% leased. David Disney and Adam Crockett of Disney Investment Group brokered the sale.

SAN ANTONIO – Big Sky Medical announced the acquisition of RidgeWood Medical Center I & II, a two-building medical outpatient campus in San Antonio.

WAXAHACHIE, Texas – Tom Heraty of NAI Robert Lynn brokered the sale of an 11,000-SF multi-tenant shopping center along the Highway 77 corridor in North Waxahachie to a private investor. Brad Motley of Trinity Real Estate Investment Services represented the seller.

Nation

NEW YORK – American Express broke ground on its new global headquarters at 2 World Trade Center in Lower Manhattan. American Express Tower will span nearly two million square feet and stand nearly 1,250 feet tall. American Express will be the sole owner and occupant of the 55-story building, which is expected to be completed in 2031. The company was founded in 1850.

Feature image: NAES Corp. will open a central region hub at 1725 Hughes Landing in The Woodlands. Howard Hughes Communities courtesy photo.

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