RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers announced the purchase of a 101,362 SF industrial distribution facility at 6903 West Sam Houston Parkway North in Houston. The seller, Lone Star Electric, was represented by Nick Peterson and John Ferruzzo. Zack Taylor of Colliers represented the buyer, Golee Group. The warehouse/office distribution facility sits on 6.6 acres along Beltway 8 and has convenient access to Highway 29.
HOUSTON – LEVCOR announced the addition of new restaurants and retailers at Post Oak Plaza at Post Oak Boulevard and San Felipe Road in Uptown Houston. The new businesses joining Post Oak Plaza include Rakkan Ramen, Tacodeli, Kohler and Bassett Furniture.
HOUSTON – Meritex has acquired Century Plaza DC IV, a 120,022 SF industrial building near Interstate 45 and Airtex Drive in North Houston. The property, 350 Century Plaza Drive, in the deed-restricted Century Plaza Business Park was developed by Avera. Drew Evans is director of acquisitions for Meritex in Texas.
LEAGUE CITY, Texas – Dutch Bros has ground-leased a 1.2-acre retail pad site in Marketplace at Ninety-Six at League City Parkway and Hobbs Road I, League City, from NewQuest Properties. Rebecca Le and Heather Nguyen of NewQuest represented the landlord. Greg Slusky of Sluco Realty Services represented the tenant.
HOUSTON – Avison Young handled the sale of a 234,215-SF industrial building with 2.5 acres of additional land located at 4414 Hollister Road near Highway 290 in Houston. Drew Coupe and Dawson Smith of Avison Young represented the seller, Frontera Capital Partners, an Austin-based real estate private equity firm. The was represented by Nick Peterson of Transwestern.
KATY, Texas – Salad and Go has ground-leased a 0.72-acre (31,521 SF) retail pad site in Shops at Katy Reserve from NewQuest Properties. Lara Lee LaMendola and Kevin Sims of NewQuest represented the landlord. Traci Holman of Baker Katz represented the tenant.
KATY, Texas – Newmark Homes will begin sales this summer in the Elyson master planned community on the west side of Houston. Newmark will build on 70-foot homesites houses ranging from 3,200 to 4,200 SF.
CYPRESS, Texas – Urban Bird has leased retail space in Cypress Village Station near Highway 290. Kevin Sims of NewQuest Properties represented the landlord. Eddie Lang of Quenby Commercial represented the tenant.
TEXAS — RNR Real Estate Briefs from Realty News Report
LEWISVILLE, Texas — Bright Realty has started construction of Crown Centre II, a $50 million, four-story, 147,000-SF office building off Sam Rayburn Tollway in Castle Hills. Crown Centre II is primarily funded by Bank7, an Oklahoma banking corporation and Sterling Private Capital. Rudick Construction Group is building it.
IRVING, Texas – JLL will be leasing agent and property management service provider for the 379,000 SF office building at 5959 Las Colinas Blvd. in Irving.
BOERNE, Texas – Transwestern Real Estate Services announced the sale of 27.5 acres of land on Highway 46 in Boerne, near San Antonio. The Embrey multifamily firm purchased the site from JCH 1607 River Road Investment, LCC, which was represented by Transwestern’s Russell T. Noll. An apartment project will be built.
GRAND PRAIRIE, Texas – V3 Electric leased 10,130 SF of industrial flex space in Trinity West Park in Grand Prairie, from William J. Owen Trust & CMO Investment Co. Michael W. Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord. Brooke Ford of SVN Trinity Advisors/Matthew Group represented the tenant.
DALLAS —Tom Thumb, an Albertson’s owned grocer, will occupy a new 50,000-sf store at Shops at Redbird, an historic mall redevelopment in south Dallas. The project is led by developer Terrence Maiden, CEO and founder of Russell Glen Company. This transformational redevelopment of the former Red Bird Mall (Southwest Center Mall) is now a revitalized, urban mixed-use project.
EULESS, Texas – Mid-Cities Office Systems leased 3,880 SF of office/warehouse space in Airport Business Park in Euless, from LCG Airport Circle LLC. Jim Ferris of Bradford Commercial Real Estate Services, represented the tenant. George Jennings and Trey Goodspeed of Holt Lunsford Commercial represented the landlord.
NATIONAL — RNR Real Estate Briefs from Realty News Report
ATLANTA, Ga. – Finial Group of Houston acquired four Georgia industrial buildings in the Suwanee, Woodstock, Stockbridge and Atlanta areas as part of their sixth fund.
TAMPA, Fla. — Hunter Hotel Advisors handled the sale of the Fairfield Inn & Suites Tampa Fairgrounds Casino in Florida. IHRMC Hotels & Resorts purchased the 98-room hotel.
NEW YORK, N.Y. — Tishman Speyer announced the debut of Essex Squeeze, a juice and smoothie bar, at the JACX&CO food hall. The food hall is located on the first floor of the JACX office complex on Jackson Avenue.
ATLANTA – National developer Portman and National Real Estate Advisors will celebrate the topping out of Sora at Spring Quarter, a 30-story residential tower in Atlanta’s Midtown Proper. The building is designed by Atlanta-based architect Cooper Carry.
ETC. — RNR Real Estate Briefs from Realty News Report
Houston Habitat for Humanity Starts Homes
HOUSTON — Houston Habitat for Humanity announced that construction has begun on single-family homes at Robins Landing. This master-planned community will provide critically needed affordable housing along with essential services and enhancing amenities for a thriving community.
The first phase of home construction includes 84 homes, 18 of which will be built by Houston Habitat for those earning 80 percent or below the City of Houston’s average median income through the Habitat Homeownership program.
“When we started envisioning what could be possible for this land in 2014, it was important to us that we design something that could truly address the affordability crisis and serve as a model that could be replicated across the country,” said Allison Hay, executive director of Houston Habitat for Humanity. “This meant building more than just homes – it meant creating a community with resources and partnerships to uplift residents and inspire families to plant roots.”
Located near Tidwell Road and Mesa Drive in northeast Houston, Robins Landing is ultimately set to include more than 450 single-family homes.
A total of 100 homes will be built by Houston Habitat and available to participants in the Habitat Homeownership Program, which prepares aspiring homeowners for long term success through true partnership.
The remaining homes in Robins Landing will be built and sold by partner builders, CastleRock Communities and Chesmar Homes. Three hundred of these homes are reserved for those whose income is 120 percent or below the City of Houston AMI, with the rest of the homes available at market rate. Lots will be available to purchase through partner builders later this year.
Chick-fil-A Sold by Colliers
HOUSTON — Colliers announced the sale of the newly constructed Chick-fil-A in Tarrytown, N.Y. The buyer was represented by Ben Etskovitz and Sam Etskovitz of Colliers Houston.
This is the second Chick-fil-A to be built in Westchester County, N.Y., and features a dual lane drive-thru, providing customers with quick and efficient service. The property also includes a corporate guarantee, ensuring the buyer of a stable and reliable income stream.
The sale was part of a 1031 exchange, allowing the buyer to reinvest the proceeds from a previous sale into this newly acquired property without incurring capital gains tax.
Said Ben Etskovitz of Colliers: “Chick-fil-A is a highly sought-after brand, and this property’s prime location and strong lease terms made it a compelling investment opportunity.”
April 22, 2023 Realty News Report Copyright 2023
File: RNR Real Estate Briefs
RNR Real Estate Briefs are published by Realty News Report
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