RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report  – HOUSTON — Mike Taetz  and Judy Beebe  of Colliers  will assist Port Houston   in marketing two strategic properties along the Houston Ship Channel.  The two properties are Turning Basin Terminal  and Greens Bayou. Turning Basin  is an improved 72-acre site and Greens Bayou   is a 390-acre unimproved site with access from Penn City Road.


HOUSTON — Pocas International,  a leading food and beverage distributor, has doubled its operational space with the sale of 711 Buffalo Run  in Missouri, Texas and the purchase of 8008 South Sam Houston Parkway West  in Houston. Wellcom Realty, LLC,  the buyer of 711 Buffalo Run, was represented by Harry Lou. Ultra Houston Group, LP,  which sold the property on West Sam Houston Parkway, was represented by Travis Land  of Partners Real EstateWes Williams  of Colliers  represented Pocas International  in the sale of 711 Buffalo Run and the purchase of 8008 South Sam Houston Parkway West.


KATY, Texas — Oxford Partners  represented Perdomo Distribution  in the lease of 17,250 SF at 4245 Clay Business Drive  in Katy. Oxford Partners’ Stephen Hazen, John Harris  and Rob Adams  represented the tenant, Perdomo Distribution.  The landlord, ARK Real Estate Management,  was represented by Lina Chow  of Re/MAX Fine Properties.


GALVESTON — Richard Glass,  principal at Lee & Associates – Houston,  has sold 16.2 acres between Seawall Boulevard  and Stewart Road  in Galveston. The property is divided into seven parcels that will be used for mixed-use retail and condo development. The property had been owned by the Maceo family  for more than 70 years.


HOUSTON – Ridgeback Ventures LLC acqwuired a 19,560-SF light industrial project on 1.08 acres at 1717 Blalock Road. Greg Shaw  with Shaw Commercial Properties represented the seller, Clarence R. Johnston, Jr. Keller Williams Realty Memorial represented the buyer.


BAYTOWN, Texas – Partners Real Estate arranged the sale of Lost River RV Park, and 11-acre RV Park located at 8407 FM 565 North in Baytown. Partners’ Landan Dory  and Cole Little  represented the seller, Lost River RV Limited Liability Co. The buyer was represented by John Manion and Tiffany Hastiecurry.


SUGAR LAND, Texas — Oxford Partners  recently represented Managed Response, Inc.  in the lease renewal of 2,598 SF at 77 Sugar Creek Center Blvd. Oxford Partners’ Ryan Hartsell  represented the tenant, Managed Response, Inc.  The landlord, InLight Capital, LLC,  was represented by Michael Sieger  of Transwestern.

TEXAS — RNR Real Estate Briefs from Realty News Report

DENISON, Texas — Craig International  announced that its new partnership, Waterfall Development LP,  acquired 3,114 acres for the Preston Harbor  master-planned community on Lake Texoma, 75 miles north of Dallas in the town of Denison. The project, with a $6 billion value on build-out, will have 7,500 homes, including upscale single-family, active adult and multifamily: a resort hotel, retail, and a marina. “This is a monumental project for North Texas  and one of the largest land purchases in Grayson County  history,” said David H. Craig, founder and CEO.


AUSTIN – Brookfield Properties  broke ground recently on Park 290,  a four-building, 792,139 SF industrial development in Austin’s growing East submarket.   The project is scheduled for completion by the fourth quarter of 2024. CBRE’s Darryl Dadon, Joe Novek  and Olivia Reed  have been hired to lease the project on behalf of the landlord. Austin’s East industrial submarket has 9.5 million SF with a 2.5 percent vacancy rate, says a fourth-quarter report from CBRE.


DALLAS — Newmark  has been awarded the exclusive leasing assignment for Plaza of the Americas,  a 1.2-million SF mixed-use complex in Dallas. The tower’s new ownership is a joint venture between Glen Park Capital  and Shelbourne.  The assignment follows Newmark’s  sale and financing of the asset – one of the largest office sales to trade in Dallas in 2023.


SAN ANTONIO — Johnson Development Services  with development partner, Heartwood Development Company,  has closed on 800 acres for a new home community in Briggs Ranch  in San Antonio. The community — which will retain the name of Briggs Ranch  — will accommodate 2,000 homes. Land Advisors  and JLL  handled the transaction. “This property offers many advantages — an excellent location near Highway 90  and TX 211,”  said Michael Cox,  president of Johnson Development Services.


DALLAS — Cohen & Steers Income Opportunities REIT  acquired the Marketplace at Highland Village,  a shopping center in Dallas. The acquisition was made through a programmatic joint venture with Sterling Organization. The Marketplace at Highland Village  is a 451,000 SF open-air community shopping center built in 2006, that includes a Walmart-owned Supercenter.


WESLACO, Texas – Partners Real Estate arranged the sale of a 107,560-SF industrial property on 21 acres on Vo Tech Drive in Weslaco, Partners’ Gustavo Torres represented the seller, Estate of Daniel E. Arnold.


NEW BRAUNFELS, Texas – NewQuest Properties  is adding Texas Roadhouse to the lineup in the 99 percent-leased Creekside Town Center,  signing a 2.2-acre ground lease for a pad site fronting Interstate 35 in the 1 million SF power center in Comal County.   Construction will begin soon on the 7,998 SF restaurant.


SAN ANTONIO – Steve Garza and Phil Crane of Partners Real Estate arranged the sale of 2.5 acres of land located at the corner of SE Military & Fairlawn Avenue. The buyer was represented by Stephen Schneider of Hilltop Properties.


DALLAS- Stillwater Capital and Forestar Group purchased the Havenwood Heights a former StoryBuilt residential project in Lake Highlands. Havenwood Heights will feature 36 homes by Robert Elliott Custom Homes created in collaboration with Poppy McGough Design House.


DALLAS — Basic Home Infusion Inc.  has leased 5,931 SF of flex space in Westwood Business Park,  1801 Royal Lane, Farmers Branch, from PRE Westwood LLC. Jason Finch  of Bradford Commercial Real Estate Services   represented the landlord. Nate Jackson  of JLL  represented the tenant.


DALLAS – Hanes Chatham Jr. and Graham Dressel of Partners Real Estate arranged a 12,600-SF industrial lease on Sharp Street with McMahan’s Flooring. Turner Peterson with Mercer Co. represented the landlord, CanTex.

NATIONAL — RNR Real Estate Briefs from Realty News Report

CHARLOTTE, S.C. – Transwestern Investment Group  has acquired Inland Port Greer 85 Building 3  on behalf of a separately managed account. The newly built, 607,160 SF industrial asset in Greer, S.C., is 100 percent occupied and is equally divided between two tenants. CBRE’s Atlanta Industrial team  brokered the deal.


MINNEAPOLIS, Minn. JLL Capital Markets  announced it has closed the $53.4 million sale of and the $25.5 million financing for Elan West End,  a 164-unit, newly built multi-housing community in St. Louis Park, Minn.


Jan 27, 2024 Realty News Report Copyright 2024

RNR Real Estate Briefs are published by Realty News Report

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RNR Real Estate Briefs – Texas & more

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