RNR Real Estate Briefs – Texas & more

 RNR Real Estate Briefs from Realty News Report   – TOMBALL, Texas – Colliers  announced the sale of Oak Bend Place,  a 152-unit multifamily community at 915 Baker Drive in Tomball, near Houston. The seller, Alphil Investments,  was represented by Chip Nash, Bob Heard, Kitty Wallace   and Jaleel Adatia  of Colliers. Oak Bend Place  is a value-add multifamily property built in 1984. “From day one of starting our marketing efforts, Oak Bend Place garnered a ton of interest,” said Bob Heard  of Colliers Houston.  “The team was able to generate multiple offers early on and found the ideal buyer within 10 days of the marketing launch date, resulting in a successful closing just 82 days after the property hit the market.”


HOUSTON – Partners Real Estate arranged a 24,249-SF lease to relocate Landtech Inc. to 1315 W. Sam Houston Parkway N. in Houston. Partners’ Dan Boyles and Brent Bishop represented the tenant in the transaction. Andy Havel of Metroway Commercial Realty represented the landlord.


HOUSTON and DALLAS – Sterling Investors,  a firm headed by Khaled W. Kudsi,  acquired two industrial logistics centers, Northwest Logistics Center  in Houston and CentrePort 2  in Dallas/Fort Worth. The Houston location is a 411,460 SF property about three miles from U.S. 290. The 431,000 SF CentrePort 2  is in the Upper Great Southwest submarket south of DFW Airport. JLL Capital Markets  represented the seller and procured the buyer. JLL’s team included Trent Agnew, Charlie Strauss, Parker McCormack, Tom Weber, Lance Young, Pauli Kerr, Matthew Barge  and Brooke Petzold.


HOUSTON — Pagewood  has sold The Great 290 Distribution Center,   its 500,000 SF facility in Northwest Houston near the Grand Parkway. “We are thrilled the center has sold after we leased it to Daikin,” said Paul Coonrod,   founder and managing principal at Pagewood.  Acquired by Sealy & Company, The Great 290  was designed by Powers Brown Architecture.  It sits on 64 acres, with high visibility along Highway 290. JLL’s Trent Agnew  and Charlie Strauss  represented Pagewood.


HOUSTON — Oxford Partners  represented TGT Diagnostics  in the leasing of 7,586 SF at 1304 Langham Creek Drive. Oxford Partners’ Julia Ly  and Matt Rogers  represented the tenant. The landlord, AK Leasehold, LLC,  was represented by Doug Pack  and Preston Smith  of Colliers.


BACLIFF, Texas — A 3,360 SF multifamily property at 4732 W Bayshore Drive in Bacliff  was purchased by Dai Bang Vu  who intends to hold the property as an additional asset in his real estate portfolio. Kala Garcia  of Pelican Bay Realtors represented the seller and Cotton Munson  of Davis Commercial  represented the buyer.


CONROE, Texas — Diana Gaines  of SVN | J. Beard Real Estate – Greater Houston  recently completed the sale of 7.1 acres on FM 1488 in Conroe, less than three miles west of I-45. Gaines  represented the seller, 8EBPF Partners, LP.  The buyer was represented by Daniel Henn  of Zann Commercial Brokerage.


HOUSTON — Richard Glass  of Lee & Associates – Houston  represented Cameron International,  a division of Schlumberger,  in its sale of 4.98 raw acres at 29501 Katy Freeway,  on the turnabout of Texas Heritage Parkway.  The buyer, Texas Petroleum Group,  plans to build a Timewise facility.


BAYTOWN, Texas — Oxford Partners  represented Total Specialty Services LLC  in the lease of 13,000 SF on Freedom Drive in Baytown. Oxford’s Austen Buckalew  represented the tenant. The landlord, SFG ISF Baytown Park LLC,   was represented by Tyler Maner  and Davis Lamberton  of Stream Realty Partners.


HOUSTON – Partners Real Estate arranged the sale of a 9,283-AF industrial property on .71 acres at 10959 Cutten Road in Houston. Partners’ Wyatt Huff and Hunter Stockard represented the buyer, M-Tech Electric LLC in the transaction. The seller was represented by Nick Bergmann at CBRE.


MAGNOLIA, Texas — Oxford Partners  represented J2 Fabrication  in the renewal of a 12,000 SF lease at Magnolia Business Park Drive. Oxford Partners’ Jeffery Arnaud  represented the tenant, J2 Fabrication.

TEXAS — RNR Real Estate Briefs from Realty News Report

DALLAS – Partners Real Estate  has secured a five-building property management assignment totaling 522,790 SF across Dallas, San Antonio and Houston. The Etchepare Family  recently closed on the following properties and has tapped Partners’ Property Management   team in the Dallas office to manage its entire portfolio: 780 Shiloh, Plano, 114,655 SF and 5556 Tennyson, Plano, 98,110 SF  and 9702 Ball St., San Antonio, 31,800 SF  and 1714 14th St., Plano 143,771 SF  and Mesa East, Houston, 134,454 SF.


LEANDER, Texas – Freehill Development Company  and Transwestern Real Estate Services  announced that construction started on Hero Way West,  a three-building light industrial complex totaling 227,200 SF. Transwestern’s Witt Westbrook, Carter Thurmond  and Nash Frisbie  will provide agency leasing services on behalf of Freehill Development Company. Hero Way West  is located in Leander near Austin.


FORT WORTH — Green Courte Partners,  a private equity real estate investment firm based in Chicago, announced that its fifth investment fund, Green Courte Real Estate Partners V, LLC,  and its affiliates acquired 5301 Wilbarger,  a 40-acre industrial outdoor storage property in Fort Worth. The company intends to operate as a managed truck storage site. The acquisition marks GCP’s  entrance into the outdoor storage market.


NORTH RICHLAND HILLS, Texas — Shipmasters Pro  has leased retail space in North Tarrant Marketplace  near North Tarrant Parkway  from NewQuest Properties. Josh Friedlander  and Nina Irwin  of NewQuest Properties   represented the landlord. Kyle Robertson  of Land Market LLC  represented the tenant.


AUSTIN – Partners Real Estate arranged the sale of a 4,465-SF single-tenant office property located at 3601 Bluestein Drive in Austin. Partners’ Ryan McCullough, Connor Watson and Heather Fowler represented the seller, Joseph and Elizabeth Burkle Trust in the transaction. Rose Brasuel of Coleman Team Realty represented the buyer, Sun Radio.

 NATIONAL — RNR Real Estate Briefs from Realty News Report

NEW YORK, N.Y.JLL’s Capital Markets group  has secured the $395 million refinancing of 70 Pine Street, a 66-story, mixed-use property with multi-housing rental, retail and hotel located in a landmarked building in the Financial District  of New York City.  JLL  worked on behalf of the borrowers, DTH Capital  and Rose Associates,  to secure financing through Goldman Sachs.


LOS ANGELES – Kearny Real Estate Company has started demolition of two office buildings at 3100 and 3130 S. Harbor Boulevard in Santa Ana, Calif. to enable the development of Harbor Logistics Center, a 163,000-SF warehouse and distribution complex.


DENVER –  JLL Capital Markets arranged the sale of Commerce Square, two light industrial assets totaling 145,242 SF in Aurora, Colo. JLL represented the seller, Graham Street Realty, and procured the buyer, Midtown National Group.

ETC. — RNR Real Estate Briefs from Realty News Report

Griffin Partners Reports Carolina Activity

HOUSTON — Griffin Partners,  a major Houston-based commercial real estate investment, development and property management firm, has announced the sale of Scarlet Oak,  an 81,118 SF office/industrial flex building in southwest Charlotte, N.C., to a joint venture between Somerset Properties Inc.  and ABR Capital Partners  for $11 million. The property is 84 percent occupied.

CBRE’s Patrick Gildea, Robert Hardaway  and Matt Smith  represented the seller, Griffin Partners.  Prior to the sale, Alek Salfia, Joe Franco  and Kris Westmoreland  with CBRE  leased the property on behalf of Griffin Partners.

Built in 1981 and renovated in 2022, the flex asset is located at 8700-8702 Red Oak Blvd. It accommodates a variety of office/warehouse uses and features 17’14” clear heights and 17 dock-high, drive-in doors. The building is part of “The Oaks,”  a four-building flex industrial redevelopment totaling 251,591 SF. CBRE  arranged the $9.25 million sale of another building in the portfolio, English Oaks,  in November 2023.

“Our local Griffin Partners team  did an amazing job turning this collection of industrial flex assets around via a full rebranding that included new roofs, upgraded mechanical systems, landscaping, exterior painting, etc. while stabilizing the tenancy for a new owner,” said Andrew Montgomery, Griffin Partners’ president of investment management.

“Attracted to the exceptional fundamentals, we are seeing capital rally around the flex industrial space,” said CBRE’s Smith. The property sits on 12.8 acres in the northwest corner of I-77  and W. Arrowood Road.  It provides easy access to Interstates 77, 85 and 485, and is seven minutes from Charlotte-Douglas International Airport.


Feb. 24, 2024 Realty News Report Copyright 2024

Caption: Austin  RNR Real Estate Briefs

Photo by Ralph Bivins, 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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