RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report  – HOUSTON — Colliers  announced that Used Bikes Direct,  a motorcycle dealer, leased a 22,630 SF building at 16445 North Freeway. The tenant was represented by Judy Beebe  and Chris Klein  of Colliers.  The landlord, Bet Ezra, LLC,  was represented by Zane Carmen  and Clay Pritchett  of Partners.  The property is a former furniture store built in 1982 on 1.4 acres. Used Bikes Direct  specializes in pre-owned motorcycles, including major brands such as Harley, Yamaha, Honda, Kawasaki  and Suzuki.

HOUSTON – Transwestern Real Estate Services announced Novel Office, a Dallas-based firm, has purchased 3555 Timmons, a 225,895-SF office building near Greenway Plaza. Transwestern’s Eric Anderson, Katy Gragg and John Heard will provide leasing services. Abhishek Kumar, Senior Vice President at Novel Office said: “There are variety of plans in the works for a lobby renovation, complete turnkey buildouts, new spec suites, complimentary 2D & 3D space planning, move-in allowances and more.”

HOUSTON — Constellation Real Estate Partners,  an investor and developer of logistics properties, has acquired 25.8 acres of land at 6401 North Eldridge Parkway in Houston’s Northwest submarket. The company will demolish an existing administrative building to develop Constellation Eldridge,  a Class A 537,375 SF warehouse. Construction will begin in the first quarter of 2024. Designed by Seeberger Architecture, Constellation Eldridge  will feature a 40-foot clear height.

HOUSTON — C.E. “Trey” Erwin III  and Josh Carl  of Lee & Associates Houston  handled the sale of 15550 Export Plaza  in Houston. Purchased by Equity Resource Partners,  the 27,800 SF building is located near George Bush Intercontinental Airport. Jason English  and Stuart Peterson  represented the seller, White Hall Real Estate, Inc.

HOUSTON – Newcor  arranged an industrial lease agreement for 25,226 SF at 8844 N Sam Houston West for RAE Security. Ryan Dierker with Newcor stated: “After looking at the options in the market for over six months, we were able to find the perfect location for RAE. The location more than doubles their office and warehouse footprint.”

HOUSTON — Shawn Ackerman  of Henry S. Miller  represented the seller in the sale of 12,234 SF at National Tire and Battery,  11041 East Freeway. Aamir Siddiqui  with Burki Realty  represented the buyer, a local investor.

TEXAS CITY, Texas – Marcus & Millichap  announced the sale of 101 North Highway 146,  a single-tenant 36,500 SF industrial facility in Texas City. Adam Abushagur  and Max Lozmack  had the exclusive listing to market the property.

HOUSTON  — A 32,875 SF lot in Montrose,  encompassing five parcels in the 400 and 500 blocks of  W. Gray Street, has been sold. The buyer, Lone Star West Gray LLC,  has plans for commercial redevelopment and was represented by Jonah Tannos  of the Tannos Development Group.  The seller, 505 WGS LLC,   was represented by Lisa Rimkus  of Davis Commercial.

HOUSTON — Oxford Partners  recently represented Gary Chen (Unishow Inc.) in the purchase of the 50,130 SF building at 5919 Bonhomme Road in Houston. Oxford Partners’ Jacob Summers  and Dylan Stiteler  represented the buyer while Martin Tijmes  of Exp Realty  represented the seller.

CLEVELAND, Texas – Partners Real Estate  arranged the sale of a 14,800 SF  industrial building on 17.70 acres at 699 US Highway 59 S. in Cleveland, Texas. Partners’ Wyatt Huff  and Hunter Stockard  represented the seller, Rakesales. Paul Compton  with JLA Realty  represented the buyer, American Friction Inc.

HOUSTON — Oxford Partners  recently represented RTC Recycling Consultants  in the sale of the 22,500 SF building at 3635 Trailmobile Drive, Houston. Oxford Partners’ Nathan Buckhoff  and Matt Rogers  represented the seller while Andrew Jewett  of CBRE  represented the buyer.

HOUSTON – Partners Real Estate arranged the sale of a 16,000-SF industrial property on 3 acres of land located at 12311 Amelia Drive. Partners’ Braedon Emde and Travis Land represented the buyer SMI Holdings, LLC. Boomer White with CBRE represented the seller.

HOUSTON – Stream Realty Partners represented Woodbranch Management in leasing 70,000 SF at 4265 San Felipe St., a 223,545-SF office building that has reached 90 percent occupancy. Keller Williams Metropolitan leased 20,656 SF. Ty Martin of McCann Commercial represented Keller Williams. Thomas J. Henry Law leased 19,368 SF with Jennifer Meehan at Savills, along with Kent McCoy and Andy Swanson at Centric Real Estate, represented the law firm. North American Corp., represented by Don King at JLL, took 10,829 SF. Pelican Builders leased 4,953 SF and Energy Advisors Group leased 4,658 SF. Stream Senior Brad Fricks and Matt Asvestas represented the landlord.

HOUSTON – Oxford Partners’ Perry Mazzone represented Luxe 5 International, Inc. (dba: GGT Worldwise) in leasing 6,016 SF at 6161 Savoy. The landlord, Affordable Real Estate Investments, LLC, was represented by Tara Oliver of Oliver-CRE.

TEXAS – RNR Real Estate Briefs from Realty News Report

DALLAS — MW Builders  has completed the second phase of Live Oak Logistics,  an 800,000 SF industrial park. This multi-phase project was developed by Link Logistics,  an owner and operator of last-mile industrial real estate.

PORTLAND, Texas – With a 128,500-SF Target as an anchor, McLeod Cobb Investments is developing a $100 million mixed-use development on 45 acres near the North Shore Corpus Christi Bay. Coming to the development will be Jack in the Box, Brake Check, Raising Cane’s, Chipotle, Aspen Dental, Five Guys, James Avery and Wells Fargo. Meredith McLeod-Cobb is a partner in the Houston-based development firm. Osborne & Vane of Houston is the architect of record for the five-tenant retail building. Cheyenne Construction Co. is general contractor and ALJ Lindsey is civil engineer.

CORPUS CHRISTI, Texas — Versal  announced the sale of Stowaway Storage  in Rockport, Texas, 35 miles from Corpus Christi. The Class A property has 309 units totaling 34,626 SF. Bill Bellomy, Michael Johnson, Logan Foster  and Hugh Horne  of Versal  represented Curren Companies,  the Texas-based seller.

FLOWER MOUND, Texas — Oxford Partners  recently represented Amber Green Realty, LLC  in the lease of 48,500 SF at 1200 Lakeside Parkway in Flower Mound. Oxford Partners’ Chase McAteer  represented the tenant, Amber Green Realty, LLC. The landlord, Prologis USLV SubREIT 1, LLC,  was represented by Andrew Gilbert  and Keaton Brice  of Holt Lunsford.

 LULING, Texas – Partners Real Estate  arranged the sale of a 10,279-SF retail property at 410 S. Magnolia Street in Luling, T Partners’ Kevin Murphy represented the seller, Lois Hartzog.

DALLAS – Sure Storage LLC has leased three acres of fenced and paved outdoor storage (130,680 sf) on Singleton Blvd.in Dallas, from CanTex Singleton LLC. Jason Finch of Bradford Commercial Real Estate Services, represented the landlord.

DALLAS – Granite Properties and Highwoods Properties announced that Deloitte leased fourf loors at 23Springs in Uptown Dallas. The Class-AA, 26-floor, 626,215-SF development will be completed in March 2025. Deloitte is targeting to relocate from Dallas Arts Tower in Spring 2026. Bank OZK signed a long-term lease at 23Springs for four floors (110,029 SF). Deloitte’s lease signing brings the building to 34 percent leased.

NATIONAL — RNR Real Estate Briefs from Realty News Report

CHIPLEY, Fla. – Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged the sale of a 9,014-SF. Dollar General retail store in Chipley, Fla. Partners’ Landan Dory and Caleb Jackson represented the buyer, Jim & Faye Holding LLC. The seller was represented by Matthews Real Estate.

PHOENIX, Ariz. – BKM Capital Partners,  a vertically integrated institutional fund manager, has acquired a pair of multi-tenant industrial parks in Greater Phoenix  for $48 million, or $178.8 per SF. The properties, Gateway University Park I & II,  total 268,409 SF within the sought-after Airport submarket  of Tempe, Ariz.

ATLANTA, Ga. — GREA (Global Real Estate Advisors),  a leading player in the commercial real estate lending, investment and advisory sector, announced an expansion of its multifamily investment sales and advisory services in North Carolina.  This expansion is the result of the recent addition of an experienced team based in Raleigh, N.C., led by industry veterans Steve Deaton, Michael Deaton  and “T.” Furlow.

ETC. — RNR Real Estate Briefs from Realty News Report

Houston Firm Tackles Project in Illinois

NAPERVILLE, Ill. – NewQuest Asia-Pacific Retail  is planning to start construction in February on a major redevelopment of the 140,892 SF former Dominick’s– anchored shopping center in Illinois.

The Houston-based developer acquired the 35 percent-leased center eight months ago in an off-market transaction. NewQuest Asia-Pacific Retail,  which manages a $2.53 billion portfolio, specializes in development opportunities in markets with high Asian populations, as is the case in Naperville.

“We are committed to transforming this center into a vibrant culinary destination with an Asian focus,” said Heather Nguyen, development partner of NewQuest Asia-Pacific Retail. 

The 27-year-old shopping center at 1523 N. Aurora Road will be rebranded and completely renovated, with the redesign incorporating green spaces into the 19.8-acre tract. The grand opening is planned for summer 2025.

Jan 20, 2024 Realty News Report Copyright 2024

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 Jan. 6, 2024

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RNR Real Estate Briefs Reported July 22, 2023

RNR Real Estate Briefs Reported July 15, 2023

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Photo by Cynthia Lescalleet, CALpix Copyright 2024

Caption: Downtown Houston in January 2024

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