RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers Houston has facilitated the acquisition of Northport Business Park, a multi-tenant industrial building in the 7100 block of North Loop East. The seller, Sealy & Company, was represented internally by Jason Gandy and Derrick Jones. The buyer, Harbor Capital, was represented by Jason Scholtz of Colliers Houston. Northport Business Park is a shallow-bay industrial property with 127,000 SF on eight acres.
PEARLAND, Texas – Baywater Capital, LLC, a Houston-based commercial real estate investment firm, acquired a 68,000 SF multi-tenant industrial park at 4407 Halik Road in Pearland. The off-market sale was brokered by Brandon Wuntch and Drew Altmann of Fritsche Anderson Realty Partners, representing both the buyer and seller, Halik 35 LLC. The industrial park consists of five buildings on 7.7 acres.
TOMBALL, Texas – Colliers announced the lease of 71,645 SF of industrial space located at The Mill at 249 in Tomball to Guardian, a Houston-based leader in height safety products and services. Beau Kaleel and Brooke Swerdlow of Cushman and Wakefield worked with the landlord, Willowbrook Property Owner, LP and developer, Greystar. Tom Condon, Jr., Greg Cizik, Edward Edson and John Grimsley of Colliers represented Guardian.
RICHMOND, Texas — The Harvest Green master planned communities is offering custom-built homes on 90-foot lots. Partners in Building is the exclusive builder in the new section, constructing homes ranging from 2,800 to 6,000 SF with prices starting at $1.3 million.
OAK RIDGE NORTH, Texas — Two Tones Dueling Piano Bar has leased 4,902 SF at Wood Ridge Plaza on Interstate 45 North. Two Tones will have two pianists on stage playing songs from classic rock to modern pop. The transaction was handled by Katherine Wildman and Bunny McLeod of Wulfe & Co.
HOUSTON — Oxford Partners recently represented Texas Adriatic Holdings, LLC in the sale of a 6,000 SF parcel at 2305 Bissonnet St. Oxford Partners’ Ryan Hartsell and Perry Mazzone represented the seller.
HOUSTON – Partners Real Estate arranged the sale of an 8-unit multifamily property located at 4218 J Street. Partners’ Ryan DeGennaro represented the seller, Mell Investment Group in the transaction. Elaine Lan Nguyen with HomeSmart represented the buyer.
BELLAIRE, Texas — Oxford Partners recently represented a psychologist group in the leasing of 2,759 SF at 6750 West Loop South. Oxford Partners’ Ryan Hartsell represented the tenant. The landlord, Norvin Pin Oak North, LLC, was represented by Lane Cane of CBRE.
HOUSTON – Concept Neighborhood – the Houston-based real estate investment, development and management company behind the authentic walkable neighborhood, The Plant in Second Ward – announced Tenfold Coffee Co. has signed a 5,000 SF lease at 3302 Garrow St. for its new roastery. Construction is underway and is expected to be complete this fall.
HOUSTON — Vertex Exchange, LLC sold a 2,250 SF retail building off Highway 6 North to Halal Ventures, LLC. Bob Conwell and David Meyers of NewQuest Properties represented the seller. Svnaina Fatwani of Apex Brokerage represented the buyer.
DALLAS – Pacific Elm Properties and KDC will start construction in October on Parkside, a 500,000 SF Kohn Pedersen Fox-designed office tower. The 30-story tower will be built on the corner of North Harwood Street and Woodall Rodgers Freeway near Klyde Warren Park. Bank of America will occupy more than 238,000 SF.
MCALLEN, Texas – STRIVE, a commercial real estate firm based in Dallas, announced the sale of the Elstar Dental building in McAllen. The 7,500 SF property is on W US Highway 83. Adam Gottschalk of STRIVE represented the seller.
SEGUIN, Texas – Partners Real Estate arranged the sale of a 80.2 acres of land on Stagecoach Road in Seguin. Partners’ Brett Lum represented the buyer, Mosaic Land Development. Heather Anders with Anders Pierce Realty represented the seller, Paul Dean.
AUSTIN – Landsea Homes Corp., a publicly traded residential home builder, is expanding its portfolio of communities around Austin and has begun construction on 159 homes in Lariat in Liberty Hill and Avery Centre in Round Rock.
SAGINAW, Texas – The Woodmont Co. announced the leasing of space for Firehouse Subs in Saginaw.
DALLAS – Nova Capital, a Los Angeles-based real estate capital advisory firm, has secured $55.85 million in financing on behalf of Darwin German Real Estate for the acquisition of The Mark at Weatherford Apartments, a 355-unit multifamily property in Weatherford. The financing, arranged by Nova Capital founder Steven Yazdani, comprises a $37.85 million Fannie Mae senior loan from Walker & Dunlop and $18 million in preferred equity from Tryperion Holdings.
DALLAS — MedEquip Depot, LLC has renewed 5,660 SF of flex space in Park Forest Business Center. Jason Finch of Bradford Commercial Real Estate Services represented the landlord, Tyler Family Real Estate Investments, LLC. Sandy Kee of Kee Commercial Realty represented the tenant.
SAN ANTONIO – Partners Real Estate arranged a 4,841-SF retail lease with Supreme Kirin LLC located at 4818 Walzem Road. Partners’ Landan Dory and Jake Jones represented the landlord, NFP Partnership in the transaction. The tenant was represented by Bin Chen of Freedom Realty.
NEW YORK, N.Y. – JLL’s Capital Markets group, as exclusive advisor to Synovus Financial Corp., worked to arrange the sale of a $1.3 billion medical office loan portfolio to Kayne Anderson Real Estate. The portfolio consists of 106 floating-rate mortgages secured by 308 medical office properties. The properties are sponsored by a number of blue-chip institutional MOB investors. With 35 percent of the properties anchored by hospital systems, the portfolio totals just under 13 million SF and is 92.3 percent leased on a long-term basis with a weighted average remaining lease term of nine years.
SANTA ANA, Calif. – TruAmerica Multifamily, a national, institutionally focused multifamily investment firm, expanded its Southern California portfolio with the $102.9 million purchase of Nineteen01, a 264-unit apartment asset in Santa Ana. The property was acquired in partnership with PCCP, LLC at a significant discount on replacement cost.
Lionstone Deal in Midtown Atlanta
ATLANTA – Lionstone Investments recently provided mezzanine capital to the owner of 8West, a newly built office property developed by The Atlantic Companies. The transaction is the first of its type for the fund.
Located at 889 Howell Mill Road in west midtown Atlanta, adjacent to Georgia Tech, the property has 193,359 SF of office space with ground-floor retail. The building features a distinctive eight-story-tall mural and views of the city skyline from two private balconies and a rooftop deck.
The gap financing will be used by the current owner to refinance an existing construction loan as well as to complete leasing and common area amenities, including conference facilities and a fitness center. Constructed in 2020, the building is currently 33 percent leased to a variety of tenants including Ford Motor Company’s research and innovation hub.
“In an environment where refinancing by traditional lenders is extremely difficult, Lionstone is pleased to have the opportunity to provide gap financing on new, high-quality assets within a high conviction market and submarket,” said Andy Lusk, chief investment officer and head of corporate strategy for Lionstone. “We believe investing in the debt versus equity provides less risk for our investors at this time.”
Cooper Carry Acquires 505Design
ATLANTA – National design firm Cooper Carry has acquired 505Design, an architecture firm with offices in Boulder, Colo., and Charlotte, N.C.
With the acquisition, Cooper Carry now has 360 employees and will now have five offices: Atlanta, Washington DC, and New York, in addition to the offices in Charlotte and Colorado.
Cooper Carry’s services include architecture, interior design, urban planning and design, landscape architecture, branding and experiential graphic design, sustainability consulting, programming, campus planning and historic preservation and adaptive reuse.
Trademark Elevates Seven Women Leaders
FORT WORTH – Trademark Property Company, an investor, developer and operator of mixed-use districts, is elevating the next generation of women leaders in commercial real estate. The company recently promoted four women to vice president positions: Cassie King, Vice President, Design and Placemaking; Laura Hale, Vice President, Portfolio Marketing; Monica Luera, Vice President, Development; and Stephany Ruiz, Vice President, Experience.
Also in 2023, Trademark hired Nancy San Pedro as Senior Vice President, Asset Management, and in 2022, Trademark promoted Maranda Auzenne to Senior Vice President, Property Management. Together, Auzenne and San Pedro are managing the physical and financial wellness of the company’s national, 16-property portfolio of retail and mixed-use centers. Trademark also promoted Susan Howell to VP, Human Capital last year.
These leaders have implemented new methods such as:
Quarterly dinners with other women in the industry discussing challenges and learnings. Research to get the female perspective on retail development and design decisions as well as programming to drive foot traffic and dwell time. A heightened focus on mentorship, collaboration and communication by creating space for deeper, one-on-one connections with team members.
According to the Commercial Real Estate Women’s Network (CREW), Women occupy 36.7% of the commercial real estate industry. This percentage has not changed much over the last 15 years.
Sept. 23, 2023 Realty News Report Copyright 2023
Downtown Houston photo by Cynthia Lescalleet, CALpix Copyright 2023
RNR Real Estate Briefs are published by Realty News Report
THE RALPH BIVINS PROJECT PODCAST
RNR Real Estate Briefs are published by Realty News Report
RNR Real Estate Briefs Reported Sept. 16, 2023
RNR Real Estate Briefs Reported Sept. 9, 2023
RNR Real Estate Briefs Reported Aug. 26, 2023
RNR Real Estate Briefs Reported Aug. 19, 2023
RNR Real Estate Briefs Reported Aug. 12, 2023
RNR Real Estate Briefs Reported Aug. 5, 2023
RNR Real Estate Briefs Reported July 29, 2023
RNR Real Estate Briefs Reported July 22, 2023
RNR Real Estate Briefs Reported July 15, 2023
RNR Real Estate Briefs Reported June 23, 2023
RNR Real Estate Briefs Reported June 17, 2023
Follow us on X (Twitter) @RNRBulletin
RNR Real Estate Briefs
NEW – The Ralph Bivins Project podcast now on Spotify Click Here