RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON – Partners Real Estate has been selected by Sovereign Partners to handle leasing efforts for San Felipe Plaza, a 46-story tower at 5847 San Felipe at Augusta Drive in the Galleria/Uptown submarket. Partners’ Vince Strake, Lesley Rice and Andy Parrish, will lead leasing initiatives at the 1 million-SF building, which was developed by Harold Farb and designed by well-known architect Richard Keating, then with HOK.

HOUSTON – Colliers announced the sale of an 81,500 SF industrial park at 6002 W 34th St. The seller represented by Jason Tangen and Paul Dominique of Colliers, was a local family that owned and operated the park since it was built.

HOUSTON – CommGate announced its 2024 Development Showcase will be held Thursday, April 18, 4:30 to 7:30 p.m. at the Amegy Tower Conference Center. Participants include Midway, Signorelli Company, and Caldwell Companies. Commercial real estate professionals may register online.

SUGAR LAND, Texas — Partners Real Estate arranged the sale of a 14,000 SF ambulatory surgery center at 2121 Williams Trace Blvd. Partners’ Ryan McCullough and Davis Amanyisye represented the seller, SNA Medical Center, LLC.

ROSENBERG, Texas — Texas Regional Bank leased a 3,795 SF former bank building on a .98-acre pad site in Brazos Town Center Phase II at FM 762 and US Highway 59 from NewQuest Properties. Nina Irwin of NewQuest represented the landlord.

TOMBALL, Texas — Newcor Development is nearing completion of a 27,315 SF single-tenant building in the Tomball Business and Technology Park. Rob Banzhaf of Newcor is marketing the building for sale or lease.

HOUSTON — Oxford Partners represented Petralis Energy Partners in leasing 2,986 SF at 15995 N Barkers Landing Road. Oxford Partners’ Nathan Buckhoff represented the tenant, Petralis Energy Partners, LLC. The landlord, HARTMAN TIMBERWAY II, LLC, was represented by Ami Figg.

CHANNELVIEW, Texas – Shipley’s Do-Nuts leased retail space in Sheldon Forest Shopping Center near Interstate 10 and Sheldon Road from Sheldon Forest Retail Partners. Nina Irwin of NewQuest Properties represented the landlord. James Weaver of Arena Realty Advisors represented the tenant.

HOUSTON — Oxford Partners represented Rob Gardner (Associated Marble) in the sale of a 10,000 SF building at 9306 Summerbell. Oxford Partners’ Jeffery Arnaud and Ryley Caton represented the seller while Rigoberto Juarez of Global Investment Realty represented the buyer.

CYPRESS, Texas — Oxford Partners represented Family Autism Center, LLC, dba Success on the Spectrum in leasing 4,676 SF at 14930 Mueschke. Oxford Partners’ Chase McAteer represented the tenant. The landlord, Cypress Dermatology, was represented by Elise Pantazis of Transwestern.

TEXAS — RNR Real Estate Briefs from Realty News Report

DALLAS — Newmark completed the sale of the North Dallas Infill Portfolio, a four-building, 627,303 SF industrial grouping within the Northwest Dallas submarket. The portfolio was 100 percent leased to 13 tenants. Newmark’s Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Taylor Hare and Chloie Mercer represented the seller, AEW Capital Management. The buyer was Forefront Commercial Real Estate.

FORT WORTH — Restoration 1 of North Fort Worth has leased a 10,060 SF building at 13019 Harmon Road in Fort Worth from Harmon Condos, LLC. Richard Hitz of Bradford Commercial Real Estate Services represented the tenant. Jen Martin of TX Business Parks represented the landlord.

DALLAS — Spark Spot, a company in the electric vehicle (EV) charging industry, bought land for the development of a cutting-edge EV charging station in Carrollton. Located in the parking lot of the H-Mart Shopping Center at East Trinity Mills and Old Denton roads in Carrollton, the newly acquired land sets the stage for the construction of a Spark Spot EV Charging Station.

RICHARDSON, Texas — Newmark facilitated the sale of Spring Creek Business Park, a 52,456 SF industrial property in Richardson. Newmark’s Sara Fredericks represented the seller, Adima US, LLC. Morgan Realty Group represented the buyer, BBE Phoenix Fund, LP.

WYLIE, Texas – JLL announced that Chint Power Systems, a solar inverter manufacturer and distributor, leased 76,433 SF at Wylie Business Center. With this lease signed, the newly constructed industrial facility now has 197,983 SF available for lease. JLL’s Kurt Griffin, Nathan Orbin and Dalton Knipe represented the owners, Lovett Industrial and Cresset Real Estate Partners while Mercer Company’s Christian Moore represented the tenant, Chint Power Systems.

FARMERS BRANCH, Texas — WSP USA extended its 11,495 SF industrial lease at 4801 Spring Valley Road – Buildings A & B in Farmers Branch. Newmark’s John Shaunfield and Kyle Jett represented the tenant. CBRE represented the landlord, Spur Ridge Farmers Branch, LLC.

NATIONAL — RNR Real Estate Briefs from Realty News Report

HOUSTON – Whitestone REIT announced the acquisition of Scottsdale Commons in Scottsdale, Ariz., for $22.2 million. Scottsdale Commons sits at the second most trafficked intersection in Scottsdale and acts as a gateway linking North Scottsdale and Paradise Valley. The 69,000 SF center is 96.6 percent occupied with 20 tenants, including Rosati’s Chicago Pizza, specialty butcher Rusty Nail Meats, U.S. Egg, Companion Pet Partners and BevMo.

MIAMI BEACH, Fla. – The Housing Authority of the City of Miami Beach and Atlantic Pacific Companies, in partnership with the City of Miami Beach, Miami-Dade County, Miami-Dade County Housing Finance Authority, Florida Housing Finance Corporation, Citi Community Capital and Bank of America, hosted a groundbreaking celebration of Vista Breeze in Normandy Shores. The 119-unit housing community for seniors is the largest new affordable housing development to break ground in the City of Miami Beach in 45 years.

ETC. — RNR Real Estate Briefs from Realty News Report

Apricus Buying Industrial Outdoor Storage (IOS)

HOUSTON – Dallas-based Apricus Realty Capital expanded its industrial outdoor storage (IOS) portfolio with the acquisition of 9987 Wallisville Road in Houston.

The 8-acre parcel provides fully secured truck parking for a freight logistics operator alongside a truck servicing facility and office building.

Acquired in a programmatic joint venture with ABR Capital, Apricus was self-represented by Matt Haley, Garrett Marler and Cort Martin.

“Apricus continues to actively look for infill IOS properties featuring access to population centers, major thoroughfares, intermodals and airports to enhance its growing portfolio,” said Haley. “Characteristics for the most desirable infill projects are generally sub-20 percent building coverage with a yard for a variety of industrial uses.”

“Most of our target-uses require storage for truck trailers, building materials, heavy equipment storage/rental, container storage, bulk materials, etc.,” Marler added. “The sweet spot for our investments is IOS properties ranging from $5 million to $15 million and larger purchases of existing portfolios.”

“We are interested in major Texas markets plus any port or distribution hubs,” Marler said. “Infill locations are always highly desirable. We are also looking to expand our focus into other major markets including Phoenix, Denver and Kansas City.”

Caption: San Felipe Plaza at the corner of San Felipe and Augusta in Houston

RNR Real Estate Briefs are published by Realty News Report

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