RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON — Audubon Engineering Company signed a new 71,879 SF lease at 3505 W Sam Houston Parkway N for its primary corporate office in Houston.  Newmark’s Reggie Beavan, Joshua Brown  and Audrey Selber   represented the tenant. CBRE’s Russell Hodges  and Bubba Harkins  represented the landlord, Azrieli Group, a real estate and holding company headquartered in Tel Aviv.  Built in 2013, 3505 W Sam Houston Parkway N is a four-story, multi-tenant office property totaling 227,045 SF near I-10 and the Energy Corridor, a major business district housing several prominent energy operations including Citgo, ConocoPhillips and Shell.

STAFFORD, Texas — Colliers  announced the sale of a 15,000 SF building on 2.4 acres at 13347 Pike Road in Stafford. The buyer, TDE Holdings, was represented by A. J. Williams  of Partners Real Estate. Ray Lopez  and Jon Lindenberger   of Colliers represented the seller, Omnova Solutions. Built in 2013, the property is 20-ton crane-ready.

MAGNOLIA, Texas — The Heiden Family Trust has acquired the 40,298 SF Shoppes at Magnolia Circle at 7424 FM 1488 Road, Magnolia, from NewQuest Properties. Marc Peeler  and Andrew Alvis  of NewQuest represented the seller. Todd Moore  and Connor Duffy  of Colliers International Houston  represented the buyer.

SUGAR LAND, Texas – Colliers has facilitated the lease of 37,000 SF of  warehouse space for Circle Clothing in the Sugar Land Corporate Center located at 1631 Gillingham in Sugar Land. The landlord, Prologis Texas III, was represented by Jarret Venghaus and Jordan Raney of JLL. The was represented by Jim Pratt of Colliers.

HOUSTON – First National Realty Partners completed over 54,000 SF of new leases at Champions Village. The grand openings of Lowe’s, Hibbett Sports, and The Greasy Spoon signify the center’s increased leasing momentum. Lowe’s opened their first and only Houston outlet store in the center’s former 41,453-SF Stein Mart box space. “We are thrilled to have partnered with Lowe’s to bring their outlet concept to Champions Village,” commented Fred Battisti, FNRP chief revenue officer.

HOUSTON — A tenant called 1-800-Packouts leased 10,000 SF of industrial space on FM 3083 on the north side of Houston. Jack Gaffney, William Alcorn  and Patrick Rubsamen  with Finial Group  represented the landlord. Nick Childs   with Newcor Commercial Real Estate  represented the tenant,

MAGNOLIA, Texas — SVN | J. Beard Real Estate – Greater Houston  recently facilitated the sale of a mixed-use office retail center in Magnolia. The three buildings comprise a total of 15,000 SF on FM 2978. Linda Crumley  of SVN | J. Beard Real Estate – Greater Houston represented the seller, Lamerie 2978 LLC. Luís Tamborrel  of Keller Williams Realty, Tamborrel Group, represented the buyer, BLXCK Investments Corporation.

HOUSTON — Oxford Partners  represented Nitesh Pradhan in the lease of 6,000 SF at 6529 Cunningham Road. Oxford Partners’ Jacob Summers  represented the tenant. The landlord, Blum Beltway LP, was represented by Trent Vacek  of CMI Real Estate.

HOUSTON – JLL  has been selected as leasing agent and property management provider for Four Westlake, a Class A, 560,888 SF office building in Houston’s Energy Corridor. With new institutional ownership committed to renovating the building, the 20-story office tower is poised for transformation. JLL’s Tyler Garrett  and Matt Pruitt  will lead the leasing efforts and JLL’s property management efforts will be led by Connie O’Murray. Energy Corridor is an attractive option for companies seeking proximity to their workforce, as a substantial portion of professionals live in the western half of the metro area,” said Pruitt. “Four Westlake is poised to address the growing need in the market for top-tier office spaces.”Formerly occupied by BP, the building is adjacent to its Westlake campus.

KATY, Texas – Venture Christian Church sold its existing 12,000-SF church building at 25133 Lakecrest Manor Drive Katy to Grace Fellowship Church as they get ready to move to their new building next year.  Steven O’Connor of PrinGroup Commercial represented the buyer and Melissa Brams of Gerber Realty represented the seller.

RICHMOND, Texas — Fort Bend Business Inc. has acquired a 9,686 SF convenience store and gas station on 0.67 acres at 16805 Bissonnet St. in Richmond, from Camillo C-Store 2 LLC. Marc Peeler  and Rick Ragan  of NewQuest Properties  represented the seller.

KATY, Texas — Crave Cookies and Morton Tailors & Alterations have leased 1,750 SF and 1,050 SF, respectively, in Grand Morton Town Center at Grand Parkway/TX 99 and Morton Ranch Road from NewQuest Properties. Josh Friedlander  and Rebecca Le  of NewQuest Properties represented the landlord.

HOUSTON – Dallas-based Apricus Realty Capital acquired its fourth industrial outdoor storage (IOS) property with the acquisition of 12400 & 12402 Taylor Road in Houston. The acquisition includes two IOS buildings totaling 31,750 SF on five acres. The secured outdoor storage facilities include a concrete paved yard used for building materials storage and distribution. Apricus Realty Capital Managing Principal Matt Haley, and Garrett Marler, and Cort Martin self-represented Apricus in a joint venture with ABR Capital Partners.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – CBRE announced the sale of West Side Village, a two-story, 51,392-SF retail development located along West 6th Street in the Clarksville neighborhood. Riverside, an Austin-based real estate investment firm, acquired the property. CBRE’s Bradley Bailey and Logan Reichle represented the seller, a joint venture between Stonelake Capital Partners and Schlosser Development.

WACO, Texas — SPTX 4700 LLC has acquired Center West, a 30,400 SF retail center on 1.75 acres at 4700 W. Waco Drive from West Waco Drive Ltd. Dakota Workman  of NewQuest Properties  represented the buyer who used in-house representation for the off-market sale.

SAGINAW, Texas – Alpine Start Development has broken ground on “Range West,” a 261-unit garden-style apartment community on 11 acres in Saginaw, a short drive north from downtown Fort Worth. David Eitches  is managing partner of Alpine Start Development.

AUSTIN — On 20 acres in East Austin, a sustainable hotel retreat offering aircrete dome-style villas and a 200,000-gallon natural water pool is under construction. The Heavens founders are Roland Barrera, Dan Mages  and Peter Haynes.  Houston-based Valencia Hotel Group is in the final stages to provide property management

NATIONAL — RNR Real Estate Briefs from Realty News Report

HOUSTON – Houston-based Hines  announced that Hines U.S. Property Partners  has closed on four investments totaling $200 million in investment volume spanning two key property types: industrial and alternatives.

The four Hines investments include:

Warm Springs Industrial Park, Fremont, Calif.

Warm Springs Industrial Park represents nearly 141,500 SF of combined footage in two fully leased multi-tenant industrial buildings. This acquisition marks HUSPP’s second R&D/Flex industrial acquisition in the Warm Springs District.

CapMed Portfolio, Maryland

The CapMed portfolio contains two purpose-built healthcare facilities. This is the Fund’s first healthcare acquisition and delivers on HUSPP’s goal to increase alternatives exposure in the medical outpatient building sector. It is also the Fund’s first acquisition in the D.C. metro area.

301 Logistics, Tampa, Fla.

301 Logistics, the Fund’s first industrial acquisition in the southeast United States, is a 390,000 SF industrial asset. Fully leased to Cirkul, an innovative water bottle and flavor cartridge beverage company, this acquisition further establishes Hines’ presence in a high barrier to entry industrial market.

Brown Field Tech Park II, San Diego, Calif.

Brown Field Tech Park II is a newly constructed, two-building industrial asset with 203,244 SF. The Fund also acquired Brown Field Tech Park I in 2022, a 230,000-SF industrial asset and a 9.5-acre parcel in July with plans to develop a 173,500 SF, bringing the fund’s total portfolio to more than 600,000 SF in Otay Mesa, San Diego’s largest industrial submarket.

ETC — RNR Real Estate Briefs from Realty News Report

HOUSTON – CDC Houston, Inc., a subsidiary of Coventry Development Corporation and master developer of north Houston’s City Place, announced that Allseas USA Inc. and Providence Title Company have signed leases in City Place 1. Located at 1700 City Plaza Drive in the asset’s mixed-use urban core, the multi-tenant office building with ground floor retail encompasses 149,500 SF. CDC Houston purchased 100 percent interest in City Place 1 from partners Affinius Capital (formerly USAA RE) and Patrinely Group in December 2022.

Swiss-basedAllseas, a global leader in offshore pipelay and subsea construction, will occupy 5,670 SF on the building’s third floor. Travis Taylor  of Lee & Associates  represented the tenant. Chrissy Wilson  and Matt Pruitt  of JLL  and Dennis Tarro  of Patrinely Group   represented the landlord. The company anticipates March 2024 occupancy.

Providence Title, a full-line title insurance company with more than 30 locations in Texas, is headquartered in Arlington and will occupy a 3,888 SF spec suite on the third floor. The tenant was represented by Tonya La Barbera and Ashley O’Hagan  of Legacy Commercial Realty. Chrissy Wilson  and Matt Pruitt  of JLL  and Dennis Tarro  of Patrinely Group  represented the landlord. The projected move-in timeline is November 2023.

Andrew Giammalvais is the project manager of Coventry Development Corp. City Place 1 currently has 20,000 SF of office space and 13,000 SF of ground floor retail space available to lease with immediate occupancy. Dining and shopping tenants at street level include Common Bond Bistro & Bakery, Sushi Rebel, Bread Zeppelin and Focus Optical.

Oct. 21, 2023 Realty News Report Copyright 2023

Photo: Willie Nelson statue in Austin. Photo by Ralph Bivins, Realty News Report, 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

Additional news briefs

RNR Real Estate Briefs Reported Oct. 21, 2023

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RNR Real Estate Briefs Reported Sept. 30, 2023

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