RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON — CBRE has secured $111 million in financing for The Hawthorne, a 67-unit condo being developed by Pelican Builders and Ember Group in a joint venture. CBRE Capital Markets’ Debt and Structured Finance team, represented by John Fenoglio and Brock Hudson, sourced the condo inventory and construction loan on behalf of the borrower to retire the existing senior and mezzanine financing and complete remaining construction work. The 17-story condo, 5656 San Felipe, has two- and three-bedroom units ranging from 1,700 to 4,500 SF.

STAFFORD, Texas – Lovett Industrial, the Houston-based real estate investment firm, and PCCP, LLC, a national commercial real estate investment firm, have recently broken ground on Stafford Logistics Park, a facility that will measure 785,000 SF. Marketing and leasing will be handled by JLL’s Jarret Venghaus and Jordan Raney. Construction financing is by Simmons Bank. Burton Construction is the general contractor, MORE Architecture is the lead architect and ALJ Lindsay is the civil engineer.

CYPRESS, Texas — 84 Lumber, a large, national, privately held supplier of building materials, has signed a 142,100 SF, long-term lease in the Barker Cypress Distribution Center at 12020 Barker Cypress Road in Cypress. The landlord, Molto Properties, was represented by Wes Williams of Colliers and Conrad Bernard of Boyd Commercial.

HUMBLE, Texas — Colliers announced the sale of Deer Springs Apartments, a 128-unit multifamily community at 98 Isaacks Road in Humble. The seller, Alphil Investments, was represented by Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers. Deer Springs Apartments is a value-add multifamily property built in 1984.

HOUSTON – Brandi Sikes and Liz Westcott of SVN | J. Beard Real Estate – Greater Houston were appointed to lease the office buildings at Viva Center, a redevelopment of the 2.3 million-SF former HPE/Compaq Computer Campus. Recently, Sikes and Westcott facilitated a 54,247-SF lease on behalf of Morales Capital Group. The tenant, SynergenX, was represented by Chris Sacco of Lumicre. Owned by Eduardo Morales, CEO of Mexcor International and Morales Capital Group, Viva Center is located on SH 249 in Northwest Houston.

HOUSTON — SSS Marketplace on Eldridge, LLC has acquired a 139,538 SF building on 12 acres at 13331 Eldridge Parkway from Sam’s Real Estate Business Trust. John Nguyen of NewQuest Properties represented the buyer. James Namken and Kyle Knight of Weitzman Management Corp. represented the seller.

CONROE — Lisa Hughes of SVN | J. Beard Real Estate – Greater Houston has recently facilitated a 5,000 SF office lease at the new Woodforest National Bank building at 400 W. Davis in Conroe for Griffin, Cain & Herbig, Attorneys at Law, PLLC. The 30,000 SF, three-story, mixed-use office retail building boasts clean finishes and modern architecture.

HOUSTON — Hästens, an upscale Swedish bed company, will open a 3,000 SF showroom at River Oaks District, 4444 Westheimer, on March 6. Hästens mattresses are typically priced between $30,000 and $80,000.

MISSOURI CITY, Texas — RKD Sr. Family, LP has sold 9.84 acres at TX 6 and Darby Lane to Aikyam Investments, LLC. Jeff Lokey and Glenn Dickerson of NewQuest Properties represented the seller. Jomon Kannala of Land & Luxe Realty represented the buyer.

SUGAR LAND, Texas – Planned Community Developers announced that Equinox Counseling & Wellness Center obtained a 9,754 SF lease at 16190 City Walk in Sugar Land Town Square. The property owner was represented by R. Donald Janssen, Jr. of PCD while Denver-based Equinox Counseling & Wellness Center was represented by Dan Bartell of Bartell & Co.

BAYTOWN — Swig leased retail space in Baytown Plaza Phase I on Garth Road from AREP Baytown I Partners LP. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord. Travis Waltmon of Palo Duro Commercial Services represented the tenant.

HOUSTON — Oxford Partners represented a co-op of tenants in the lease renewal of 28,797 SF at 6222 Richmond Ave. Oxford Partners’ Ryan Hartsell and Perry Mazzone represented the collection of tenants. The landlord, 6222 Richmond Holdings, LLC, was represented by Kurt Kistler and Kevin Nolan of Moody Rambin.

HOUSTON — Smoothie King leased retail space in Eldridge Lakes Town Center Phase II from NewQuest Properties. Lara Lee LaMendola of NewQuest Properties represented the landlord. Greg Slusky and Whitney Fisher of Sluco Realty Services represented the tenant.

TEXAS — RNR Real Estate Briefs from Realty News Report

SAN ANTONIO — Vero Sade is the Houston-based multifamily development firm behind two rising San Antonio projects: Us 1604, a 444-unit community at 4710 N Loop 1604 E, and Us Cibolo, a 288-unit mid-rise in Cibolo Commons at FM 1103. Pre-leasing is now underway for both projects. Vero Sade has tapped Kairoi Residential to oversee property management at the communities. Rents start at the $1,600s.

AUSTIN — Alliance Industrial and Colliers announced the beginning of construction for two industrial buildings. The project, named Connor Lane Business Park, will have 170,959 SF between two buildings. Chase Clancy, Travis Hicks and Michael Modesett at Colliers and Alliance Industrial will market the business park. The project will be located in the northeast submarket, with access to major employers such as Tesla, Samsung and Applied Materials.

HUTTO, Texas — Titan Development and the Sansone Group have engaged CBRE and Aquila to market a 208,560 SF speculative cold storage industrial building in Innovation Business Park in Hutto, near Austin. The facility will have temperature range from 40 degrees to -20 degrees. It is slated to break ground during the second quarter. Located 30 minutes north of Austin, Hutto is known as a transportation hub, with Dallas, Houston and San Antonio all located within 2.5 hours drive time.

SAN ANTONIO – Partners Real Estate arranged an 11,400-SF lease with Ervin Cable Construction at 1026 Brussels in San Antonio. Partners’ Carlos Marquez and Brian Heines represented the landlord, REIPG LLC. The tenant was represented by Kent Jones.

FORT WORTH – Highland Homes leased 8,500 SF for its new office in Fort Worth in Hillwood Commons II at Alliance Town Center. Scott Hobbs with Newmark represented Highland Homes, which sold more than 900 homes in Fort Worth-area communities last year.

McKINNEY, Texas – Peak Development Partners of Dallas has sold 14 acres near El Dorado Parkway to SLX Development, which plans to develop a mixed-use property on the site. SLX Development was represented by Evan English and Tim McNutt of DBA Real Estate.

ANNA, Texas – Edge Realty Partners and Steveco Commercial Realty brokered the sale of 13.5 acres to Home Depot in the Anna Town Center development north of Dallas. David Copeland and Steve Ewing represented the seller while Mike Stevens with Steveco Commercial Realty represented Home Depot. Anna Town Center is a 115-acre mixed-use project anchored by Walmart, UHS Hospital and now Home Depot. Taylor Morrison is developing a single-family for rent (BTR) community as well.

LAREDO, Texas – Partners Real Estate arranged a 7-acre industrial outdoor storage lease with Dun Transportation on U.S. Highway 83 in Laredo. Partners’ Carlos Marquez and Brian Heines represented the landlord, Velocity Landholdings.

NATIONAL — RNR Real Estate Briefs from Realty News Report

SALT LAKE CITY, Utah — Patrinely has leased 19,917 SF of office space in 650 Main to Michael Best & Friedrich, LLP, a national law firm. Located in downtown Salt Lake City, 650 Main is a 10-story, 335,000 SF office and retail development. CBRE handles the office leasing assignment under the direction of Dennis Tarro and Phillip Moore of Patrinely. The tenant was represented by Lora Munson of Colliers.

DENVER, Colo. — StarPoint Properties is nearing completion of Point Central Business Park, a 157,473 SF speculative industrial project on more than 9.5 acres in Denver. Construction began last summer, and the project is scheduled to be delivered soon, during the second quarter of 2024.

LAS VEGAS – Southern Land Company has broken ground on an apartment community in the Arts District in Downtown Las Vegas. It will include three seven-story, mid-rise apartment buildings totaling 531,982 SF, with 337 rental units and 8,600 SF of ground-level retail.

ETC.

HOUSTON – Chamberlain Hrdlicka has completed the $6 million renovation of its Houston headquarters at Two Allen Center, 1200 Smith Street in downtown Houston. The redo transformed Chamberlain Hrdlicka’s office space into a modern, inviting, collaborative environment designed to foster teamwork, training and mentoring, and elevate the employee experience.

Architecture, design and planning firm Gensler, along with the O’Donnell Snider construction firm collaborated with support from Cushman & Wakefield team, led by Tim Relyea, who also assisted with the lease extension. The law firm leases 55,178 SF of contiguous space.

“With our office lease extension in 2022 came a vision for a refreshed workplace and an elevated experience for Chamberlain Hrdlicka’s team members,” said John Meredith, Chief Operating Officer for Chamberlain Hrdlicka. “The recent Allen Center campus renovations and added amenities created an inviting work environment for our team, clients and visitors. Renovating our office further enriches our employees’ experience and takes our culture of excellence and collaboration to the next level.”

Caption: View from The Hawthorne condominium 5656 San Felipe.

RNR Real Estate Briefs are published by Realty News Report

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