RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – KATY – Dallas-based Bridge Tower has expanded its Houston portfolio with the acquisition of Villas at Sunterra, a 114-unit build-to-rent development in the Sunterra master planned community in Katy. Completed in 2023, Villas at Sunterra was developed by ONM Living, a sister company to HistoryMaker Homes. Bridge Tower is a vertically-integrated real estate investment company focused on U.S. residential real estate.

ROSENBERG, Texas – Southern Pressure Vessel has leased 61,040 SF at Century Service Center, 5002 Business Park Drive, Suite 110, in Rosenberg. The five-year lease commenced Aug. 1. James Chen of NX Realty represented the tenant. The landlord, Bearden Investments, handled leasing in-house. The 105,360-SF Century Service Center is now 100% leased.

HOUSTON – Kumar & Associates, a sundry goods distributor, leased 10,479 SF of office and distribution space at 7101 N. Loop East. John Hornbuckle of Cypressbrook Co. represented the tenant. Payton Herleth of Matthews Real Estate represented the landlord, Matthews Real Estate Investment Services.

HOUSTON – Will Murchison of Junction Commercial Real Estate represented Taub Rd Partners in the purchase of 7,000 SF on 2 acres at 8904 Taub Road. Kevin Cosgrove of Stream Realty represented the seller, JHKH Investments. The facility is available for lease.

CONROE – PivotED leased 1,200 SF of office space at 1101 N. Thompson St., Conroe. Jeri Blake of Universal Home Solutions represented the tenant. Kimberly DeVos of Cypressbrook Co. represented the landlord, E. Tay Bond, Trustee.

KATY – Texas Roadhouse has ground-leased a 1.34-acre pad site in Texas Heritage Marketplace, at Interstate 10 and Texas Heritage Parkway, Katy, from NewQuest. Bob Conwell and David Meyers of NewQuest represented the landlord. Jeff Scarborough and Chase Scarborough of Scarborough Real Estate represented the tenant.

KATY – PNC Bank, represented by Chris Reyes and Ryan Holliday of Shop Cos., has ground-leased a 1.07-acre pad site in Texas Heritage Marketplace from NewQuest. Bob Conwell and David Meyers of NewQuest represented the landlord.

HOUSTON – Arpovo leased 10,997 SF at 9777 W. Gulf Bank Road. Oxford Partners’ Nathan Buckhoff represented the tenant. Wilson Kelsey and Natalie Gilbert of Stream Realty represented the landlord, Raycor.

HUMBLE, Texas – Chrysalis MSP leased 1,225 SF at 13803 Madera Run Parkway, Humble. Oxford Partners’ Paul Viers represented the tenant. Anh Rodriguez and Brad Segreto of Aspire represented the landlord, Restore One Property Holdings.

HOUSTON – Teksys Inc. renewed 3,000 SF of flex office space at 5401 Mitchelldale. Andy Parish of Partners represented the landlord, PCRIF Mitchelldale LLC. George Montes of Cypressbrook Co. represented the tenant.

HOUSTON – Transitions Counseling and Consulting leased 3,831 SF at 13114 F.M. 1960 West. Oxford Partners’ Chase McAteer represented the tenant. The landlord, 13114 FM 1960, LLC (IRA Capital), was represented by Ashley Byrd of Transwestern.

Texas

HUTTO, Texas – Partners Real Estate has arranged the first lease at a new 30-acre Industrial Outdoor Storage development at 707 CR 105 Spur in Hutto with a tenant occupying 4.94 acres of the site. The tenant will use the site to support heavy lift and rigging operations across Central Texas. Stan Nowak, Andrew Alizzi, and Ben Seger of Partners represented the landlord.

Casis Village is located in Austin’s Tarrytown neighborhood. JLL courtesy photo.

AUSTIN – A high-net-worth family office has acquired Casis Village, a midcentury retail center anchored by Randalls at 2727 Exposition Blvd. in Austin’s Tarrytown neighborhood. Chris Gerard and Shea Petrick of JLL Capital Markets represented the seller, a joint venture between Ivy Cos. and 35 South Capital. TH Casis Village LLC, an affiliate of Jonathan Perlman, CEO of Dallas-based Tradition Senior Living, was the buyer, according to property records cited by the Austin Business Journal. Lincoln Property Co. served as investment advisor to the buyer. The 48,500-SF shopping center sits on 3.39 acres and is 92% leased. Tenants include Estilo, Starbucks, Tarrytown Pharmacy, Zed’s, and Face Foundrie.

HALTOM CITY, Texas – CanTex Minnis has acquired a 14,860-SF industrial building on 3.36 acres at 2504 Minnis Drive, Haltom City, from Roadmaster Industries. Luke Clardy of Bradford Commercial Real Estate represented the buyer.

FREDRICKSBURG, Texas – Civitas Capital Group announced the closing of a $33.6 million senior construction loan to finance The Lucille, a 240-unit garden-style multifamily community in Fredericksburg, Texas, to be developed by Parkspring Multifamily. Civitas Capital Group is an EB-5 regional center operator.

NEW BRAUNFELS – Potbelly Sandwich Works leased 1,750 SF in Creekside Town Center Phase 4 at Interstate 35 and FM 306, New Braunfels, from NewQuest. Kevin Sims and Nick Ramsey of NewQuest represented the landlord. Graham Ketchum of Shop Cos. represented the tenant.

DALLAS – Marco Awards Group purchased the 49,982-SF building at 4443 Bronze Way, Dallas. Oxford Partners’ Ryan Hartsell and Chase McAteer represented the buyer. Caleb McCoy of JLL represented the seller.

Nation

DENVER – San Antonio-based Kairoi Residential, in partnership with PGIM and Helaba Bank, has broken ground on a 420-unit multifamily development off Speer Boulevard and Zuni Street in Denver’s Lower Highlands (LoHi) neighborhood. amenities include a sky pool deck with views of downtown Denver, dedicated men’s and women’s health and wellness spas, a 24-hour fitness center, work from home spaces, golf and ski simulators, multiple sky lounges, and outdoor social spaces.

Atlantic Station mixed-use development in Midtown Atlanta. — Opened in 2005, Atlantic Station is a 138-acre neighborhood in Midtown Atlanta. Trademark Property Co. courtesy photo.

ATLANTA – Trademark Property Co., a mixed-use investor, developer, and operator, has been engaged by Atlantic Station ownership to assume management, leasing, and operations of the 138-acre mixed-use retail district. Sean McIntosh has been hired as general manager to oversee management and operations of the property’s 585,590-square-foot retail footprint. Trademark is a developer and operator of top-tier mixed-use communities across the country, including Market Street–The Woodlands.

SAN DIEGO – A joint venture of private equity firm Henderson Park and Lowe has acquired Plaza Bonita, a 1,031,000-million SF enclosed regional shopping mall in the San Diego suburb of National City, Calif. The JV partners plan to upgrade and reposition the mall through significant capital improvements and leasing investment. Built in 1981, Plaza Bonita is set on more than 78 acres and serves the communities of National City and Chula Vista. Centennial will manage and lease the property. Eastdil advised on the acquisition and sourced the financing with Morgan Stanley.

BRENTWOOD, Tenn. – Brookdale Senior Living agreed to acquire the real estate of 17 senior living communities that it currently leases and operates for approximately $157 million. The portfolio is comprised of 735 assisted living and memory care units in four states. Following the closing, Brookdale will continue to operate all 17 communities.

Etc.

HOUSTON – Rosenberger Construction, a commercial general contractor specializing in tiltwall industrial buildings, has changed its name to Rino Construction following a recent ownership change. Ownership of the company has transitioned to Steve Salverino and Jacob Aswad, both former partners at Rosenberger Construction.

CommGate will host its Economic Outlook –Wednesday, Sept. 23 from 3 to 6 p.m. at the Houston Country Club. Economist Ted C. Jones, PhD, will present an economic forecast examining trends that will shape the real estate market in the coming year. Following the presentation, connect at a networking social with beverages and hors d’oeuvres. Free for members of CommGate, CCIM, and SIOR. Non-members $50. Link to Registration.

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Mike Spears of Lee & Associates Houston

LISTEN: THE RALPH BIVINS PROJECT with Bob Parsley of Colliers Houston

LISTEN: THE RALPH BIVINS PROJECT with Mark Davis of Davis Commercial

LISTEN: THE RALPH BIVINS PROJECT with David Hightower of Midway

LISTEN: THE RALPH BIVINS PROJECT with Alex Kamkar of Bold Fox Development

LISTEN: THE RALPH BIVINS PROJECT with Brad McWhirter of Trahan Architects

LISTEN: THE RALPH BIVINS PROJECT with Lacee Jacobs of Rebel Retail Advisors

LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers

LISTEN: THE RALPH BIVINS PROJECT with Trey Odom of Avera

LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston +

LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings