RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report –HOUSTON – Ascendant Development completed construction on Preserve at Woodridge, with 132 single-family, build-to-rent units near Woodridge Parkway in Kingwood. Ascendant began leasing the project in June 2023. “Market response to our build-to-rent product has been overwhelmingly positive,” said Richard Owen, principal.

HOUSTON — Oxford Partners  represented Groninger Cleaning Systems in the lease of 14,228 SF on Barker Springs Road. Oxford Partners’ Ryley Caton   represented the tenant. The landlord, BPREP PARK 10 LLC, was represented by Carter Holmes  of Cushman & Wakefield.

CLEVELAND, Texas — Sanor Properties LLC has acquired 189.6 acres on FM 787 W from Black Dog Land and Cattle LLC. Marc Peeler  of NewQuest Properties  represented the seller. Anastacio Sanchez  of SIS Group LLC   represented the buyer.

KATY, Texas – Commercial Realty Company – a Houston-based real estate rokerage, development and management company has leased 1,800 SF at 1165 KFB. Fred Ash represented the landlord and Eric Broussard of Resolute Real Estate represented the tenant PJ’s Coffee.

CYPRESS, Texas — Cy-Fair Center LLC has acquired a 9,100 SF retail building on Skinner Road from NewQuest Properties. Marc Peeler, Dakota Workman, Rick Ragan, Thomas Turner  and Davis Sheffield  of NewQuest Properties represented the seller.

HOUSTON – STRIVE announced the sale of Greens Crossroads Outparcel in Houston. The 5,736 SF property is located on W Greens Rd. The property is a two-tenant outparcel to the Burlington-anchored Greens Crossroads shopping center. Positioned on a hard corner, it is visible to over 305,000 vehicles per day on Interstate 45 and W Greens Rd. Jake Dutson of STRIVE exclusively represented the seller.

HOUSTON — Y&K Real Estate acquired 3.4 acres on Rogerdale Road from Foresteen Miller Core 2012 Trust. Dakota Workman  of NewQuest Properties   represented the buyer. Alex Makris  and Hunter Stockard  of Partners Real Estate  represented the seller.

BELLVILLE, Texa  – STRIVE, a commercial real estate investment sales firm based in Dallas, recently announced the sale of a Pizza Hut center in Bellville. The 100% occupied, 3,800-SF , two-tenant retail center is located on W Main St.

BAYTOWN, Texas — Shaukat Sunesara has acquired 2.9 acres on Highway 146 from Genoa Way Mobile Home Park LLC. Brad LyBrand  and Neal Thomson  of NewQuest Properties  represented the seller. Daniel Henn  of Zann Commercial  represented the buyer.

HOUSTON — Two 1930s era buildings on lower Westheimer in Montrose have been preserved and redeveloped with two thriving eateries, Barcelona Wine Bar and Jeni’s Splendid Ice Creams. Mark Davis of Davis Commercial Real Estate started acquiring the properties five years ago, which were originally comprised of The Hollyfield Laundry building built in 1929 and The Old Blue House Antique Shop constructed in 1930.

HOUSTON – Shan Ali Investment LLC acquired 2.1 acres at FM 529 and Hillsdale Creek Drive from HSC FM 529 LP. Brad LyBrand  and Glenn Dickerson  of NewQuest Properties  represented the seller. Mayur Shah  of Haus Houston  represented the buyer.

HOUSTON – Nothing Bundt Cakes has acquired retail space in Carpenter’s Landing at Wallisville Road and Carpenters Landing Way from NewQuest Properties. Nina Irwin  of NewQuest Properties represented the landlord. Mark Stanislawski  of Retail Strategy Real Estate Group  represented the tenant.

TEXAS — RNR Real Estate Briefs from Realty News Report

FORT WORTH – Partners Capital acquired Westcliff Shopping Center, a 134,750-SF grocery-anchored shopping center on S. Hills Avenue in Fort Worth, Texas. The property is the first property to be acquired through Partners Capital’s Opportunity Fund V. “This strategic move not only diversifies our portfolio geographically but also allows us to tap into the robust and dynamic market of Fort Worth,” said Andrew Pappas, President of Partners Capital. Partners Capital’s Jess Dickie, who joined the firm in April to source new acquisitions in the North Texas. Partners Capital financed the acquisition with Independent Financial.

DALLAS – M Financial Group,  a financial services firm headquartered in Portland, leased 52,000 SF in Stream Realty Partners’  The QUAD at 2699 Howell St. Stream’s Ryan Evanich  and Marissa Parkin  represented Stream. Cushman & Wakefield’s Dean Collins, Mark Collins  and Doug Deurwaarder  represented M Financial.

MANSFIELD, Texas — Newmark  has completed the sale of Mansfield Urban Industrial Park, a three-building industrial property totaling 267,622 SF in Mansfield. Newmark Capital Markets’ Dustin Volz, Stephen Bailey, Dom Espinosa  and Zach Riebe  represented the seller, Longbow Interests, a Dallas-based commercial real estate firm that specializes in developing shallow bay industrial buildings. The buyer was High Street Logistics Properties.

MCKINNEY, Texas – STRIVE  announced the sale of El Fenix in McKinney. The 8,160 SF restaurant was built in 2001. Adam Gottschalk  of STRIVE exclusively represented the seller, Local Favorite Restaurant Group.

DALLAS – Dallas-based Apricus Realty Capital  has acquired its third industrial outdoor storage property, 11600 CF Hawn, a fully occupied four-acre crane rental storage and maintenance facility. The 8,800 SF facility includes two buildings.

DALLAS — Independent Beauty Association Inc. has leased 2,459 SF of office space in Quorum Place from G&I Quorum Place LP. Joe Santaularia  and Jared Laake  of Bradford Commercial Real Estate Services  represented the tenant. Olivia Barnes, Chase Lopez  and Patrick Cruz  of Stream Realty Partners   represented the landlord.

CARROLLTON, Texas – Partners Real Estate  arranged a retail lease with Taqueria Moctezuma on W Frankford Road in Carrollton. Partners’ Ranjin Mathew  represented the tenant. The landlord, Net CF Frankford Point LLC, was represented by Patrick McNeff  of McNeff Commercial Real Estate.

DALLAS – Provender Partners has closed on a 185,569-SF cold storage facility in Dallas,  the third and final piece of a 469,000-SF, tri-temp real estate portfolio acquired from a national food service company for nearly $50 million. The seller will lease back the three buildings in Dallas; Kissimmee, Fla. and St. Louis. “After demonstrating our ability to execute on the Kissimmee facility earlier this year, the seller shared their disposition plans and offered us the opportunity acquire the two remaining assets,” said Provender Founder and CEO Neil Johnson. Chris Robinson with Fischer and Scott Delphey with Food Properties Group represented both parties in the portfolio sale. 

NATIONAL — RNR Real Estate Briefs from Realty News Report

CITY OF INDUSTRY, Calif. – Cushman & Wakefield  has advised the sale of a 275,000 SF light industrial project in City of Industry. Known as the John Reed Commerce Center, the 15-building project is 83 percent leased. Boston real estate investment firm Longpoint Partners  acquired the asset.

ATLANTA, Ga. – JLL  announced 14 transactions totaling 111,262 SF of leasing activity took place at Terraces, the million SF office campus in Central Perimeter in Atlanta. The year-to-date activity encompasses seven new leases, four expansions and three renewals. JLL’s Brooke Dewey  and Glenn Aspinwall   handle leasing and marketing efforts for Terraces on behalf of the owner, a MetLife Inc. affiliate.

WINSTON-SALEM, N.C. — Transwestern  has been named asset services provider for 200 W. Second St., a 272,820 SF, Class A office building in downtown Winston-Salem and a 75,470 SF, three-building industrial portfolio in Charlotte’s Airport/West submarket. Transwestern’s Micah Larmie  and Xyomara Rivera  will oversee asset services for both properties.

RIVERSIDE, Calif. – Land Advisors Organization’s West Riverside County team represented the seller in the sale of nearly 50 acres within the Green Valley master-planned community to Lennar Homes. The parcel provides Lennar with 191 single-family detached lots, which will have the minimum size of 6,500 SF. The sale was facilitated by Brian Carricaburu and Andrew Sinderhoff with Land Advisors Organization, who represented the seller Cross Lake Partners/Raintree Investment Corporation.

ETC — RNR Real Estate Briefs from Realty News Report

HOUSTON – Slowpokes, the Houston-born gathering place known for its family- and dog-friendly ambience and local leaning food offerings, plus in-house roasted coffee and Bayou City brews, is on the fast track to set up shop in the city’s Westchase District. The acclaimed hospitality concept, co-founded by homegrown operator Mazen Baltagi of Chapman & Kirby, Mi Luna and Christian’s Tailgate, is planning a spring 2024 debut in a location developed by the real estate arm of Houston-based McNair Interests.

Featuring 2,000 SF of interior space – designed by  MaRS  – as well as a covered patio and a second terrace overlooking a three-acre lake, Slowpokes will serve as an amenity for McNair’s “On the Trails” community, a wooded, 24-acre enclave on Deerwood Road at 400 West Sam Houston Parkway South.

“On the Trails” currently encompasses the development’s first phase, the recently debuted Remy multifamily midrise, and construction is underway on a second, yet unnamed, apartment phase, which Slowpokes will call home.

The brand, which was first launched in 2016, currently includes locations in the GOOF, Upper Kirby/Levy Park, Spring Branch and West University Place.

The Slowpokes concept “will resonate wonderfully in this market area and within this pedestrian-oriented development that puts a premium on nature, further adding to the resort-style vibe,” said Drew Steffen, senior vice president of real estate at McNair Interests.

McNair purchased the Deerwood property – boasting 715 feet of frontage on Beltway 8 – in 2020 and later unveiled its lake with dock. Development plans for the future 4.6-acre third phase are being evaluated.

Oct. 21, 2023 Realty News Report Copyright 2023

Photo: Cynthia Lescalleet, CALpix Copyright 2023

RNR Real Estate Briefs are published by Realty News Report


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RNR Real Estate Briefs are published by Realty News Report

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