RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – TOMBALL, Texas — Colliers announced the sale of a commercial building on 1.9 acres on East Main Street in Tomball. The buyer, Johnny C. Foster, was represented by H. Wayne White of Fielding Vaughn Real Estate Group. Tom Condon, Jr., John Grimsley, Mike Taetz and Bill Byrd of Colliers represented the seller, Fastenal Co.

HOUSTON — Guitar Center leased 16,683 SF at Wood Ridge Plaza at 27630 I-45 North across from the Woodlands Mall in Oak Ridge North. This will be the ninth Guitar Center in the greater Houston area. The tenant was represented by Lilly Golden of Evergreen Commercial and the landlord was represented by Katherine Wildman and Bunny McLeod of Wulfe & Co.

BAYTOWN – Stream Realty Partners has completed a speculative one million SF industrial project in a joint venture with Principal Real Estate Investors. The project, called Portside Logistics Center, is located near the Port of Houston on Borusan Road.

SPRING — Oxford Partners’ Austen Buckalew and Matt Rogers represented Bogey Bros Golf Co. in leasing 7,875 SF on West Hardy Road. The landlord, Keen Realty, was represented by Todd Jurek of Keen Realty.

KATY, Texas — Aloha Poke Co. leased 1,541 SF of retail space in Shoppes at Grand Crossing in Katy from POG Kosmos 1099, LP. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Greg Lee and Campbell Anderson of DuWest Realty represented the tenant.

HOUSTON — Oxford Partners represented DaRam Engineers in the lease renewal of 4,388 SF at 11000 Richmond Ave. Oxford Partners’ Chase McAteer represented the tenant. The landlord, Woodbranch, was represented by Matthew Asvestas of Stream Realty.

HOUSTON — Partners Real Estate arranged the sale of a five-unit, 5,275 SF multifamily property at 1401 Waugh Drive. Partners’ Taylor Wynn represented the seller, Montrose CLIII (I), LTD. The buyer was represented by Shawn Shaheen.

HOUSTON — Life Time, a healthy lifestyle brand and a large provider of pickleball courts, programming and leagues, is opening its largest outdoor pickleball development with 22 new courts opening adjacent to its Kingwood club in Humble.

HOUSTON — Oxford Partners represented Therapy Space in the lease renewal and expansion of 4,200 SF at 13810 Champion Forest Drive. Oxford Partners’ Vincent Vega represented the tenant. The landlord, Kashi Park at Champions Forest, LLC, was represented by Terri Torregrossa of Avison Young.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN — CBRE has arranged the sale of La Quinta Inn & Suites by Wyndham Austin Southwest, a 128-room hotel at 4424 S. Mopac Expressway. The buyer was Houston-based K&K Hotel Group. Michael Yu and Rahul Bijilani of CBRE Hotels represented the seller, Highgate.

IRVING, Texas — Newmark secured the joint venture equity placement for the development of TriStar Business Park, a two-building, 173,680 SF industrial project in Irving. The development is expected to be completed in the fourth quarter of 2024. Newmark Capital Markets’ Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe arranged the joint venture between the investor, MBK Industrial Properties, and the sponsor, Hopewell Development.

SAN ANTONIO – Houston-based Triten Real Estate Partners has completed its first industrial project in San Antonio. The 490,000 SF Connection Park Logistics Center sits on 32 acres at 6851 Cal Turner Drive in east Bexar County.

FAIRVIEW, Texas — The Woodmont Company announced a lease agreement between Larks Entertainment and Fairview Town Center. This deal, brokered by The Woodmont Company on behalf of Larks Entertainment, brings a 25,000 SF entertainment center, cocktail bar and chef-inspired restaurant to the heart of Fairview. Joseph Williams represented Larks Entertainment and Walt Davis of Lincoln Property Company represented the landlord.

GARLAND, Texas– Anthem Development, a Beck Ventures Company, broke ground on the first phase of redevelopment for the Transit-Oriented District surrounding Dallas Area Rapid Transit’s (DART) Lake Ray Hubbard Station in Garland. This first phase includes the development of Lofts iThirty, a 340-unit, $64 million multifamily project at 6302 Greenbelt Parkway. Nova Capital arranged financing with Bank OZK.

AUSTIN – Transwestern Investment Group, on behalf of Transwestern Strategic Partners Fund II, announced the sale of The Warner, a 336-unit multifamily community in Round Rock. The seven-building property was 97.5 percent leased. Newmark’s Patton Jones and Andrew Dickson brokered the deal.

SCHERTZ – Partners Real Estate arranged a 191,297-SF renewal and expansion with MEI Rigging & Crating at Doerr Lane Logistics Center in Schertz, near San Antonio. Partners’ John Colglazier, Carlos Marquez and Kyle Kennan represented the landlord, Baltisse-Ackerman Schertz, LLP. David Cartwright with ATCAP Partners represented the tenant.

PLANO, Texas — Rosewood Property Company is now leasing The Ludlow, a 326-unit apartment community in the Heritage Creekside master-planned community in Plano. In partnership with MetLife Investment Management, the four-story multifamily development will be fully complete by the end of 2023.

FRISCO, Texas – The Frisco Station Partnership is launching its first entertainment venue at Frisco Station. Pickle and Social, a pickleball destination with world-class courts, will be paired with Fairway Social, a one-of-a-kind experience with simulators that feature 130 golf courses.

PLANO, Texas — Noodoe Inc. leased 8,381 SF of flex space in Technology Center in Plano from Kennington Technology Ltd. Brian Pafford and Jared Laake of Bradford Commercial Real Estate Services represented the landlord. Joe Santaularia, also of Bradford Commercial Real Estate Services, represented the tenant.

SAN ANTONIO – Olympus Pines Acquisitions, LLC bought 1.3 acres of land located at Reid Ranch and Potranco Road in San Antonio. Partners Real Estate’s Gustavo Torres and Ross Anderson represented the buyer, Olympus Pines Acquisitions, LLC in the transaction.

NATIONAL — RNR Real Estate Briefs from Realty News Report

TAMPA, Fla. – JLL’s Hotels & Hospitality Group arranged a $29.6 million floating-rate term loan to acquire and renovate the 130-key Aloft Tampa Downtown. JLL, led by Kevin Davis and Mark Fisher, represented the buyer, Newbond Holdings, to secure the loan through the lender, CIM Group.

GALLATIN, Tenn. – A Finial Group fund acquired an 18,000 SF industrial building at 1330 Gateway Drive in Gallatin, Tenn.

ARLINGTON, Va. – JLL Capital Markets closed the sale of Ballston One, a 239,678 SF office building in Arlington, Va. JLL represented the seller, UBS Realty Investors, LLC, and procured the buyer, Penzance.

ETC. — RNR Real Estate Briefs from Realty News Report

HOOVER, Ala. – As summer winds down, folks searching for lake homes and lots are in luck. The new 2023 Fall Lake Real Estate Market Report shows more listings are on the market – 11,674 more. The quarterly survey takes a snapshot of the lake real estate market and found that 25 of the 31 states covered in the report had increased inventory over the previous quarter. Texas had more than 1,000 additional listings than the last quarter, soaring to 15,682 properties with a combined listing price of $8.896 billion – an increase of $620.5 million.

The top 10 states for the most lake home and lot listings included Texas (15,682), Florida (8,572), Tennessee (6,074), Minnesota (5,214), North Carolina (4,764), Georgia (4,255), Washington (4,038), Michigan (4,021), Alabama (3,913) and Missouri (3,357), according to the report from Lake Homes Realty.

The 31 states included in the report had 85,599 lake home and lot listings, up from 73,925 in summer and 70,805 in spring. The total for the fall 2022 report was 88,344. The new fall 2023 Lake Real Estate Market Report said lake home and lot listings were valued at $46.497 billion as of Aug. 15 within the 31 states in the report.

The average listing price for homes and lots combined increased to $543,201 each – up from $538,131 in the summer.

RNR Real Estate Briefs are published by Realty News Report