RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report HOUSTON — Brookfield Properties announced that the Nelson Mullins Riley & Scarborough LLP law firm leased 16,000 SF in Brookfield’s Heritage Plaza, a 52-story office tower at 1111 Bagby Street in downtown Houston. The Houston office expands the Texas presence of Nelson Mullins, which has an office in Dallas and other offices around the nation. Nelson Mullins was represented in lease negotiations by Anya Marmuscak and Clara VanLandingham of JLL. Brookfield Properties was represented internally by Tyler Merritt and William Holliday.

HOUSTON – Lee & Associates – Houston completed one of the largest industrial outdoor storage (IOS) transactions in the city’s history. The sale involved a 194,000 SF truck terminal on 17 paved acres at 2222 North Wayside Drive in Northeast Houston. Increased demand for IOS properties fueled strong competition for this respected asset. The deal was facilitated by Lee & Associates brokers C.E. “Trey” Erwin III and Josh Carl and acquired by Zenith IOS in a joint venture with institutional investors advised by J.P. Morgan Asset Management.

HOUSTON — Partners Real Estate arranged a 32,596 SF industrial lease with 2911 Fabrication at 14490 Wagg Way Road. Partners’ Travis Land and Braedon Emde represented the landlord, United Equities. Caleb Lawson with Flatrock Companies represented the tenant. The landlord, an affiliate of United Equities, also recently broke ground on seven speculative industrial buildings in Satsuma Station Industrial Park.

HOUSTON — Oxford Partners represented Illinois 3 Properties, LLC, in the purchase of the 2,226 SF building at 1604 Bissonnet. Oxford Partners’ Perry Mazzone and Ryan Hartsell represented the buyer.

BEAUMONT, Texas — Global Medical REIT announced it has entered into a 15-year, triple-net lease with an affiliate of CHRISTUS Health, its healthcare facility in Beaumont. The lease will cover the entire Beaumont facility, a two-story medical property consisting of 84,674 SF at 6025 Metropolitan Drive. Annual base rent for the first lease years is $2.9 million with 2.5 percent annual rent increases thereafter.

HOUSTON — The Finial Group secured a lease agreement with Haylee’s Cakes4Fun at 15989 Westheimer. Jason Gibbons of the Finial Group represented the landlord.

CONROE, Texas – Forest Timber Ltd. sold 411 acres on FM 1097 in Montgomery. This parcel, located near Lake Conroe and across from the Bentwater master-planned community, was sold to J. Alan Kent Development for a residential development of 1,000 to 1,200 lots. Charles Blaschke and Logan Havel of Edge Realty Partners represented the seller, Forest Timber, while David Alexander and Josh Cheatham of Newcor represented the buyer.

HOUSTON – Colliers handled the sale of Oaks of Kingwood, a 152-unit multifamily property at 3415 Havenbrook Drive in Kingwood, a master-planned community in northeast Houston. This is the first time the property, which is 99 percent leased. has been on the market in 25 years. The transaction was managed by Colliers’ Chip Nash, Bob Heard and Jaleel Adatia representing the seller, Kingwood Houston Oaks Limited Partnership.

HOUSTON — Quick Quack has ground-leased a .82-acre (36,154 SF) outparcel at Interstate 45 and Cullen Boulevard from Cullen Gulf Freeway, LLC. Rebecca Le of NewQuest represented the tenant. Liz Jacobs of Lovett Commercial represented the landlord.

HOUSTON – Boxer Property announced a new lease with Daring Ventures Counseling, Coaching, and Consulting, LLC, for 5,678 SF at 1415 North Loop West, negotiated by Boxer’s Trey Miller and Chuck Goldstein, President at Goldstein & Associates. Daring Ventures provides coaching, treatment and counseling for addiction and trauma.

HOUSTON — CCS Facility Services, a commercial cleaning and building engineering services firm, announced the opening of its newest branch in Houston. Located at 2500 Central Parkway, the office will offer a range of services, from janitorial solutions to specialized building engineering resolutions.

HOUSTON — Alloy Personal Training has leased 1,575 SF of retail space in the Shoppes at San Felipe at San Felipe and Voss roads, Houston. Nina Irwin of NewQuest represented the landlord, SF/Voss Ltd. Jim Haviland of The Windsor Realty Group represented the tenant.

CYPRESS, Texas — Duck Donuts has leased 1,400 SF of retail space in Fairfield Marketplace at TX 290 and Mason Road from NewQuest. Bob Conwell of NewQuest represented the landlord. Tony Armstrong of A.A. Armstrong Real Estate and Keenan Delaney of Delaney Real Estate Advisors represented the tenant.

HOUSTON — Oxford Partners represented ATX Auctions in the lease of 14,746 SF at 2700 Bingle Road. Oxford Partners’ John Harris, Jacob Summers and Stephen Hazen represented the tenant, ATX Auctions. The landlord, Garver Real Estate, was represented by Scott Wilkerson of Garver Real Estate.

BEAUMONT, Texas – Oxford Partners represented AFE Properties in the purchase of the 12,449 SF building at 1675 Spindletop Ave. in Beaumont. Oxford Partners’ Jeffery Arnaud and Stephen Hazen represented the buyer while Milt Prewitt of J.M. Prewitt Company represented the seller.

HOUSTON — Oxford Partners represented Ridha Arem in the sale of the 2,385 SF building at 10402 Shadow Oaks Drive. Oxford Partners’ Garth Plyler represented the buyer while Matthew Gullo of The Gullo Group represented the seller.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Partners Capital, the investment platform of Partners Real Estate Company, sold Trails at 620, a 69,037-SF retail property at 8300 N FM 620 in Austin. Partners Capital acquired the asset in October 2020. JLL brokers Shea Petrick and Chris Gerard represented Partners Capital in the transaction.

AUSTIN — Newmark arranged the sale of Thornton Flats, a 104-unit multifamily asset at 2501 Thornton Road in South Central Austin. Newmark’s Patton Jones and Andrew Dickson represented the seller. The buyers were Jesse Mamuhewa and David McCutchan, principals of Resolute Capital Partners.

ALLEN, Texas – Allen-based developer JaRyCo development announced the initial tenant for the FarmWorks One office building at The Farm in Allen. Fibergrate Structures will move from Dallas into its new world headquarters at the 102,000 SF FarmWorks One Office Building in early 2025.

SANTO, Texas – Marcus & Millichap announced the sale of Maverick Travel Center in Santo, Texas. Ameer Adel and Jacob Luna exclusively represented the seller, Burt Shield, They secured buyers Mr. Koneiber and Mr. Rammal, prominent figures in the Dallas-Fort Worth market, who finalized an all-cash sale. The Maverick Travel Center, located at the intersection of Interstate 20 and Highway 281, has two restaurants, Taco Casa and the Maverick Grill.

NATIONAL – RNR Real Estate Briefs from Realty News Report

ATLANTA, Ga. — The Finial Group bought a 28,995 SF industrial facility at 4410 Wendell Drive SW in Atlanta. The purchase was handled by Jack Gaffney, John Buckley and Jason Gibbons, representing the Finial Investment Platform

LAS VEGAS, Nev. — BKM Capital Partners acquired Escondido Business Park, a two-building multi-tenant light industrial park in the Airport submarket of Las Vegas for $21.3 million. The 153,368 SF small-bay property will be upgraded and rebranded as Skyport Industrial Park. Brett Turner is BKM’s senior managing director of acquisitions and dispositions.

MEMPHIS, Tenn. — Poag Development Group, in partnership with a group of local investors who purchased Oak Court Mall in December 2023, has acquired the Macy’s property there for $7 million.

PHOENIX – The Lukrom real estate investment firm opened their corporate headquarters at 44th Street and Camelback Road in Phoenix. Specializing in private lending and real estate investment opportunities for accredited investors, Lukrom was founded by U.S. Navy veteran Thomas McPherson.

ETC.– RNR Real Estate Briefs from Realty News Report

HOUSTON — Alterra IOS, a player in the industrial outdoor storage (IOS) sector which has acquired more than 270 properties nationwide, announced the acquisition of four IOS properties totaling 17 acres in the Houston metropolitan area. The sites include 8121 and 8223 Parkside avenues in Baytown, Texas; 5100 Underwood Road in Pasadena and 9002 Wayfarer Lane in Houston.

“Alterra has placed a continued emphasis on IOS sites in the Houston market that are proximate to the critical infrastructure and highways that service both the global economy and one of the nation’s largest MSAs,” said Mark Gannon of Alterra IOS. “Houston will continue to be a vital component of Alterra IOS Venture III, Alterra’s latest fund which closed earlier in 2024.”

8121 and 8223 Parkside avenues, located within the newly developed Bay 10 Business Park, represent a combined 7.2 acres with 50,000 SF of accompanying warehouse space. The newly constructed, fully paved sites offer highway frontage on Route 99 and provide tenants with immediate access to I-10 and close proximity to the Port of Houston.

5100 Underwood Road, a five-acre site with 57,500 SF of warehouse space, is part of a three-property sale-leaseback with a national industrial chemical cleaning company. The property has its own rail spur, providing access to national rail networks.

9002 Wayfarer Lane is a 4.6-acre site with 40,930 SF of accompanying warehouse space near Hobby Airport and the BNSF Railway.

Lee & Associates’ Houston facilitated the acquisition of 8121 and 8223 Parkside avenues and will also lease the sites. Marketing of the properties has already begun, with a new speculative office and a reinforced concrete yard being added to the property at 8121 Parkside.

Zane Carman of Partners Real Estate facilitated the acquisition of 9002 Wayfarer Lane, with Partners handling future leasing.

Mark Your Calendars:

Downtown Houston + will present its State of Downtown Annual Meeting on Oct. 16 at 11 a.m. to 1:30 p.m. at the Hilton Americas, Downtown 1600 Lamar St. Keynote speaker: General Stan McChrystal. Information: