RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – HOUSTON – On behalf of landlord H-E-B, Rebecca Le of NewQuest has secured a 1.18-acre, 20-year ground lease with Murphy Oil USA for the development of a fueling station and convenience store at the intersection of FM 1960 and Aldine Westfield Road in North Houston. Construction is underway, with completion planned in Q2 of 2027. The H-E-B property features a 55,000-SF Joe V’s Smart Shop, which opened in 2017; 18,000 SF of neighborhood services’ inline retail; and a Quick Quack Car Wash. H-E-B has two more retail pad sites available in the 18-acre development.

HOUSTON – Partners Real Estate arranged the sale of two newly constructed, 20-ton crane-ready manufacturing buildings totaling 57,750 SF at 5339 and 5520 Bay Oaks Drive in Pasadena’s Bay Oaks Business Park. Partners’ A.J. Williams represented the seller, and Zane Carman represented the buyer in the transaction. The concrete tilt-wall buildings span 24,750 SF and 33,000 SF on 4.19 acres. Carman will handle the leasing assignment of both buildings.

HOUSTON –Frost Bank, a subsidiary of Cullen/Frost Bankers, broke ground on a 5,336-SF financial center at Valley Ranch Town Center in New Caney. Valley Ranch Town Center, a development of Signorelli, spans 1.5 million square feet and is 97% leased. Located at 21276 US Highway 59, Frost Bank joins more than 100 businesses at Valley Ranch Town Center. The branch is designed to offer in-person and online banking services, including personal, small business and commercial banking, checking and savings accounts, loans and investment services.

KATY – Potbelly Sandwich Shop has leased 1,750 SF in Texas Heritage Marketplace, located at the intersection of Interstate 10 and Texas Heritage Parkway, Katy, from NewQuest. Bob Conwell and David Meyers of NewQuest represented the landlord. Chris Reyes and Tyler Trevine of Shop Cos. represented the tenant.

HOUSTON – Metro by T-Mobile has leased 1,100 SF at 4310 Highway 6 N., Houston, from Dhanani Investment Inc. Rebecca Le of NewQuest represented the tenant. Clay Mealy of Jolink Wallace Commercial represented the landlord.

HOUSTON – Alert360 leased 9,000 SF at 2901 W. Sam Houston Parkway N. Sam Marnoy and Matt Rogers of Oxford Partners represented the tenant. Clay Pritchett of Partners represented the landlord, Westbelt Park Ltd.

Texas

DALLAS – Greybrook Realty Partners, a Toronto-based real estate private equity firm, has acquired Evolv, a 334-unit multifamily property in Mansfield, Texas, in the D-FW metropolitan area. Grant Raymond and Asher Hall of Cushman & Wakefield represented the seller. Greystone provided $39,237,000 in Fannie Mae financing for the acquisition. Built in 2012, Evolv is a garden-style community on 18.6 acres at 370 North State Highway 360.

DALLAS – Broe Real Estate Group, the real estate affiliate of the multi-billion-dollar Colorado investment firm The Broe Group, has acquired Maple Terrace Residences at 3003 Maple Ave. in Uptown Dallas. The 22-story, 345-unit Class AA apartment building opened in August 2024. Maple Terrace Residences is part of the Maple Terrace mixed-use development by Hines, Mitsui Fudosan America, and McNair Interests. JLL’s Capital Markets represented the seller in the transaction.

Maple Terrace Residences, a 22-floor, 345-unit apartment tower. — Maple Terrace Residences, a 22-floor, 345-unit apartment tower was completed in 2024. The Broe Group courtesy photo.

STEPHENVILLE, Texas –Colliers has brokered the sale of Edge on Washington, a 141-unit, 341-bed Class A student housing community across the street from Tarleton State University in Stephenville, Texas, to an undisclosed buyer. The 135,525-SF community is located at 1316 W. Washington Street. Sean Baird, Jonathan Holt, Cole Cusmano, Chip Nash, and Bob Heard of Colliers represented the seller, Tarantino Properties.

GRAND PRAIRIE, Texas – Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage properties, has acquired an industrial outdoor storage (IOS) property at 2605 N. Forum Drive in Grand Prairie, Texas from Rockbrook Equity for $2.15 million. This is Steel Peak’s first IOS property acquisition in Texas and 21st overall in the Southwest and West since the company was founded in January 2024. The 1.16-acre property is 100% leased to Elecnor Belco Electric, an electrical contractor owned by Elecnor Group, a global infrastructure and energy company operating in more than 50 countries. The tenant’s operations support electrical infrastructure, utility systems, and other essential construction projects. 2605 N. Forum Drive includes a 6,600-SF office/warehouse building. Steel Peak Director of Acquisitions Eli Ray led the acquisition along with Chris Wong of Partners Real Estate.

AUSTIN – Transwestern’s National Healthcare Capital Markets team has arranged the sale of a three-property medical outpatient portfolio totaling 31,545 SF in Temple and Belton, Texas, on behalf of Kobalt Investment Co. The Transwestern team included Steve Leathers, Seth Gilford, Bill Boyd, Jake Jordan, and Max Hastings. The buildings are occupied by Baylor Scott & White Health. Prior to the sale, Transwestern secured new 10-year lease extensions across the portfolio.

Tech Ridge in San Antonio. Transwestern courtesy photo.

SAN ANTONIO – Entrada Partners has selected Transwestern to provide agency leasing services for the recently acquired Tech Ridge I & II, a two-building, 120,279-SF office project at 12668 and 12672 Silicon Drive in Northwest San Antonio. Transwestern’s Russell T. Noll and Mason Pollard will lead leasing efforts on behalf of the ownership group.

ADDISON, Texas – Newmark has arranged the sale of The Colonnade, a three-building, 1.08-million-SF office campus located along the Dallas North Tollway in Addison, Texas. The property was sold through a receivership process on behalf of Trigild and CWCapital, with Cross Ocean Partners and Lincoln Property Co. acquiring the asset. Stephen Schwalb, Chris Murphy, Robert Hill, Gary Carr, and Austin Sheahan represented the seller in the transaction. The property is located at 15301, 15303 and 15305 North Dallas Parkway. Newmark advised Trigild on the Greenway Plaza sale in Houston.

RICHARDSON, Texas – Legacy Partners, a privately held national real estate firm, together with their equity partner CrossHarbor Capital Partners, has acquired a 10.4-acre site in Richardson, Texas, with plans to develop Legacy Arapaho, a 444-residence apartment community. The partnership recently closed on the site at 250 E. Arapaho Rd. with a construction loan from First United Bank of Durant, Okla. The existing vacant two-story office building will be demolished. Rampart Multifamily, Inc., based in Grapevine, is the general contractor. Initial occupancy is planned in spring 2028, and final completion by spring 2029.

ARLINGTON, Texas –StreetLights Residential, a developer of multifamily and mixed-use communities, in partnership with Foresta Holdings, a Dallas-based real estate investment platform, unveiled The Linden, a 344-residence multifamily community along Lake Viridian in Arlington, Texas, and announced the launch of leasing. Designed as a modern lake retreat, The Linden brings together Craftsman-inspired architecture, elevated residential finishes, hospitality-inspired amenities, and direct access to Lake Viridian and Viridian’s outdoor recreation. Located at 3925 Viridian Village, The Linden encompasses four buildings ranging from four to five stories and offers studio, one- and two-bedroom residences ranging from 504 to 1,396 SF. Monthly rents start at $1,400 for studio residences.

SAN ANTONIO – Los Angeles-based Center Capital Partners acquired a 56,301-SF industrial outdoor storage building on 15.24 acres at 7480 FM 1560 N. in San Antonio. Andrew Alizzi, Stan Nowak, and Ben Seger of Partners Real Estate represented the seller. The building is 100% leased to Kodiak Building Partners, a subsidiary of building products distributor QXO.

Nation

INDIANAPOLIS – Diamond has acquired Shadeland Industrial Park, a three-building park totaling 198,000 SF in Indianapolis, Ind. JLL Capital Markets represented the seller, i3 Investors. The park is fully occupied by Kroger and Drexel Interiors.

NEW YORK – Oppenheimer & Co., a leading investment bank, wealth manager, and subsidiary of Oppenheimer Holdings Inc., announced plans to relocate its headquarters to 32 Old Slip in Lower Manhattan. The firm will occupy 220,000 SF across six full floors of the 36-story building, with a phased move-in targeted to begin in Q1 2028. The firm was represented by JLL in the transaction with building owner RXR and will partner with Gensler to design the new space.

AURORA, Colo. – San Antonio-based Kairoi Residential and Clarion Partners have completed construction on The Gild at Metro Center, a 419-uni multifamily development in Aurora, Colo. Consisting of five elevator-served buildings on 12 acres, the property is part of the Metro Center mixed use development.

CASA GRANDE, Ariz. – New Jersey-based Lamar Companies, together with its partner Real Capital Solutions, has completed the sale of Promenade at Casa Grande, a 480,000-SF regional shopping center at Interstate 10 and Florence Boulevard in Casa Grande, Ariz., for $63.1 million. El Warner at Colliers brokered the sale.

DENVER – The Bascom Group has completed a $62.5 million refinancing of Viceroy Observatory Park, a 275-unit multifamily community in Denver. The property was acquired by Bascom in May 2018 for $92.5 million. Jamie Kline and Kyle White of JLL arranged the financing, with Shawn Cully and Roy Bezkostny of Prime Finance providing the $62.5 million loan. AMC will continue to provide property management services for the community with SD-Cap overseeing property renovations and upgrades.

KALAMAZOO, Mich. – HPP Equity has acquired Campus Court at Knollwood, an 834-bed student housing community near Western Michigan University, and selected HH Red Stone as its property management partner.

MIAMI – Investments Limited acquired Promenade at Coconut Creek, a 296,419-SF open-air mixed-use lifestyle center at 4467 Lyons Road in Coconut Creek, Fla. Danny Finkle, Jorge Portela, and Kim Flores of JLL Capital Markets represented the seller, AEW.

Feature image: Joe V’s Smart Shop at 2929 FM 1960. NewQuest courtesy photo.

THE RALPH BIVINS PROJECT PODCAST

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LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

LISTEN: THE RALPH BIVINS PROJECT with Stephen Meek of StreetLights Residential

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

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