RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report — HOUSTON – Hines and Ivanhoé Cambridge, global real estate firms, announced the addition of The Sylvie restaurant to Texas Tower, the 47-story, 1.2 million-SF Class AA office tower in downtown Houston. A French-European concept by Berg Hospitality Group, The Sylvie is anticipated to open Summer 2024.

HOUSTON — Partners Real Estate arranged the sale of a 35,622 SF cold storage industrial property at 12634 East Freeway in Houston. Partners’ Wyatt Huff and Hunter Stockard represented the seller, Mims Investment Inc.

HOUSTON – Colliers announced the 52,015 SF full building lease at 19054 Kenswick Dr. in Humble. Robert Alinger and Wes Williams of Colliers represented the landlord, Bertling Logistics. The tenant, SRS Distribution Inc., was represented by Sarah Pickup and Will Clay of JLL. Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution is one of the largest building products distributors in the US.

HOUSTON – Fritsche Anderson Realty Partners announced two industrial leases totaling 25,300 SF have been taken at 12302 FM 529. The leases were handled by Brandon Wuntch and Drew Altmann from Fritsche Anderson Realty Partners, acting on behalf of the landlord. Christian Villarreal and Jack Gaffney of Finial Group secured a 7-year lease on behalf of a technology robotics group for 14,200 SF in the newly developed warehouse complex. Meanwhile, Tommy Secules and John Walker from Morrow Hill represented a disaster recovery company in the leasing of 11,100 SF.

SPRING, Texas – Spring Medical Plaza, a 55,354 SF medical office building at 21848 Holzwarth Road in Spring, is scheduled for delivery in May. Built by Jacob White Development, it’s the region’s first Class A medical office building constructed since 2016. It is two miles south of the Exxon Mobil HQ. Leading the leasing efforts on behalf of the owner, Star 2022 Development Group Ltd., were JLL’s Tim Gregory and Kendall Kerr.

HOUSTON — Cushman & Wakefield announced the firm represented Shoo Loong Kan, a Singapore-based restaurant group specializing in Chongqing/Sichuan hot pot cuisine, in its lease at West on West shopping center in Houston and at Carrollton Town Center in Carrollton, Texas. Cushman & Wakefield’s Michael Pittman II, Michael Burgower and Rachel Granstrom represented Shoo Loong Kan in lease negotiations with West on West owner NewQuest Properties, which also owns the Carrollton location.

BAYTOWN, Texas — Longhorn Steakhouse has ground-leased a 1.21-acre retail pad site in Chambers Town Center at Interstate 10 and TX 146 in Baytown from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Traci Holman of Baker Katz represented the tenant.

HOUSTON — Oxford Partners represented Baird & Associates in leasing 3,168 SF at 3900 Essex Lane, Houston. Oxford Partners’ D.J. Hale represented the tenant, Baird & Associates. The landlord, BRI 1834 ESSEX, LLC, was represented by Blake Virgilio of Lee & Associates.

HOUSTON, Texas – Finial Group announced a long-term lease agreement with Sherwin-Williams at a newly developed property at 13045 Gulf Commerce Drive in Houston. Finial Group’s Jason Gibbons and William Alcorn represented WDC RE II, LLC, the property owner.

WILLIS, Texas — Amco Auto Insurance has leased 1,400 SF of retail space in Sam Houston Town Center at Interstate 45 and FM 1097 in Willis, from NewQuest Properties. Lara Lee LaMendola of NewQuest Properties represented the landlord. Rafael Melara of ROM Commercial Properties represented the tenant.

HOUSTON — Oxford Partners represented Paw Solution, LLC in leasing 3,601 SF at 11205 S Main St. Oxford Partners’ Stephen Hazen and John Harris represented the tenant, Paw Solution, LLC. The landlord, Fort Capital, was represented by Thomas Pfeifer of Fort Capital.

HOUSTON — Finial Group announced the renewal of a long-term lease with SPX Flow at 7210 Harms Road in Houston. John Buckley and Dylan Schopper of Finial Group handled the lease which ensures the Harms Road Business Park will remain fully leased for the foreseeable future.

HUMBLE, Texas – Patriot Bolt acquired a 6,500-SF building on 0.66 acres at 1986 S Houston Ave.in Humble, northeast of Houston. It is adjacent to Patriot’s existing facility. Doc Perrier and David Durham of Outpost Partners worked with the buyer and the seller.

HOUSTON – CommGate announced its 2024 Development Showcase will be held April 18, 4:30 to 7:30 p.m. at the Amegy Tower Conference Center.

Participants include Midway, Signorelli Company, Caldwell Companies, Greater Houston Partnership, Sugar Land Economic Development, City of Stafford Economic Development, and Pasadena Economic Development.

Commercial real estate professionals may register online.

TEXAS — RNR Real Estate Briefs from Realty News Report

SAN MARCOS, Texas – Denholtz Properties, based in Red Bank, N.J, acquired Clovis Crossing, a 213,125 SF industrial property in San Marcos from Freehill Development Co. “With sustained population growth, a highly diversified regional economy and tremendous access to one of largest states in the nation, the Austin-San Antonio Corridor is an ideal market for us,” said Stephen Cassidy, president of Denholtz Properties. Mike Klein and Jon Mikula of JLL New Jersey and Michael Johnson and John Beeler of JLL Austin oversaw financing for the deal.

TYLER, Texas – SPI Advisory, a Texas-based multifamily private equity firm, and its Dallas-based investment partner, CR Capital announced the sale of the Parker Apartments in Tyler. Acquired by SPI and CR Capital in 2018, Parker Apartments, is a Class-B, 192-unit apartment complex located at 5105 Old Bullard Road. Over the years, SPI and CR Capital implemented extensive renovations, enhancing the property’s appeal and marketability. Michael Becker is a Principal at SPI Advisory.

WEATHERFORD, Texas — Cushman & Wakefield arranged the sale of Remington Ridge, a 257-unit multifamily community in Weatherford, near Fort Worth. The 133-unit Phase I was built in 2022, with construction already underway for an additional 124 units in Phase II. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Trinity Capital Group. The buyer sponsor was Juniper Investment Group.

BROWNSVILLE, Texas – National New Markets Fund, LLC, an affiliate of Los Angeles-based SDS Capital Group, invested $17.5 million of its New Markets Tax Credit allocation to support a 150,000 SF expansion of global food supplier Rich Products’ Brownsville manufacturing facility, resulting in 132 new jobs. Rich’s Brownsville plant produces frozen seafood and appetizer products. The NNMF investment utilizes capital from the NMTC program administered by the U.S. Treasury Department.

PLANO, Texas — KCW Enterprises, LLC has renewed 38,180 SF of flex space in Research Center, 2600 Research Drive. Brian Pafford and Jared Laake of Bradford Commercial Real Estate Services represented the landlord, Kennington Research, LLC. Grace Bowers of Colliers International represented the tenant.

NEW BRAUNFELS, Texas – Mayfair, a 1,900-acre master-planned community located in New Braunfels, has added Austin-based Wes Peoples Homes to its builder lineup. In addition, model homes for builders Coventry Homes, Highland Homes, Perry Homes and Toll Brothers are nearing completion. Chip Mills is Senior Vice President of Southstar, the developer of Mayfair.

NATIONAL — RNR Real Estate Briefs from Realty News Report

HOUSTON – JC Penney stores located in Georgia, Florida and Colorado have been sold. They have a total of 302,161 SF of space. The stores are located at the following locations: 341 Newnan Crossing Byp in Newnan, Ga., 2001 West Osceola in Kissimmee, Fla. and 6302 South Central Street in Aurora, Colo. Dimitri Jordan of Partners Real Estate represented the buyer.

LOS ANGELES, Calif. – TruAmerica Multifamily, a national, institutionally-focused multifamily investment firm, acquired Westmont Commons, a 252-unit multifamily community in Asheville, N.C. The asset was purchased off-market for $49,875,000 in partnership with Spoke Real Estate Capital.

ETC.

Panot Capital Launched

HOUSTON — Real estate executives Aaron Iskowitz and Zain Sayed have established Panot Capital, a dedicated real estate investment management firm based in Houston with offices in California, New York, Ohio and Rhode Island.

Previously, Sayed served as the Head of Portfolio and Asset Management at Parkway Properties, and before that Sayed was the U.S. West Head of Asset Management at Lionstone Investments. Iskowitz was previously the chief operating officer at Urban Smart Growth, a real estate development and management company.

RNR Real Estate Briefs are published by Realty News Report

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