RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON – Lee & Associates – Houston announced the sale of a 38-acre tract in southeast Houston to Jackson Shaw Development, which may use the site for industrial development. Lee’s C.E. “Trey” Erwin III and Justin Tunnell represented the seller. The location, off Haden Road, is close to Interstate 10 and near the Barbours Cut and Bayport container terminals.

CYPRESS, Texas — MedProperties Realty Advisors, LLC, acquired a 44,659 SF medical office building in the northwest Houston community of Cypress. Located on the Memorial Hermann Cypress Hospital campus at 27646 Northwest Freeway, the building is 100 percent leased to Memorial Hermann Health System and Athlete Training + Health. Jon Foulger is senior director of acquisitions at MedProperties Realty Advisors, LLC. Debt for the transaction was covered by Capital One and Siemens Financial Services.

WEBSTER, Texas — Texas Oncology leased 35,000 SF of medical office space in Webster Town Center, located in the Clear Lake area at the intersection of Interstate 45 and Texas Avenue, from NewQuest. Kevin Sims and Nick Ramsey of NewQuest represented the landlord. Nelson Udstuen and Lindsay Arbour of CBRE represented the tenant.

HOUSTON — Mars Shipping Service, LLC, leased 43,475 SF at 21331 Clay Road. Garret Geaccone, Boone Smith and Abraham Richardson with Stream Realty Partners represented the landlord, Harbor Capital. Rodney Henson with TopSky Realty Texas represented the tenant.

MAGNOLIA, Texas – Woodmere Development Co. bought 95 acres at 26119 Decker Prairie Rosehill Road in Magnolia where it will develop a single-family home community. MLB Commercial Real Estate’s Tommy LeBlanc and John-Michael Kamel represented the sellers for this Montgomery County tract. The property is located in the Tomball Independent School District.

FULSHEAR, Texas – Phillips Edison & Co. acquired the Shops at Cross Creek, a fully leased 24,188-SF retail center located in Fulshear at 6630 FM 1463, west of Houston. The seller, Rycore Capital LP. , was represented by JLL Capital Market’s Investment and Sales Advisory team led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Gianna New.

COLLEGE STATION — Colliers announced the sale of a 14,165 SF industrial building on 1.6 acres in College Station’s Aggieland Business Park. Bill Byrd of Colliers and Judd Harrison of KBC Advisors represented the purchaser. Todd Moore, Connor Duffy and Zack Martin of Colliers represented the seller, Dark Horse Real Estate. The property was a build-to-suit project for Advanta Seeds.

HOUSTON — Lebco Industries, LP, leased 80,260 SF at 6913 Guhn Road. Jeremy Lumbreras and William Carpenter with Stream Realty Partners represented the landlord, First Industrial. David Buescher and Geoff Perrott with JLL represented the tenant.

HOUSTON – Rice Real Estate Company announced new tenants in Rice Village, including New Orleans-based eyewear brand KREWE, local boys’ boutique ParkerJoe and Jeni’s Splendid Ice Creams. Other new stores include The Beaufort Bonnet Company and Paper Source. “Rice Village continues to attract a dynamic mix of local and national brands,” said Kenneth Jett, vice president, facilities & capital planning and president of Rice Real Estate Co. Rice Village is situated east of Kirby Drive and west of Rice University.

HOUSTON — Soto Glass Showers & Mirrors, LLC, expanded by 13,868 SF at 15701 West Hardy Road. Meg Zschappel, Jax Rawlinson and Abraham Richardson with Stream Realty Partners represented the landlord, Arden Logistics.

HOUSTON –– Oxford Partners recently represented DSC Risk Services in leasing 1,283 SF at 5615 Kirby Drive. Oxford Partners’ Rob Adams and D.J. Hale represented the tenant. The landlord, S.E. Covington & Co., was represented by Julie Combs of S.E. Covington.

HOUSTON – Jenkins Real Estate Holdings, LLC bought a .12-acre commercial property located off Interstate 10 between Shepherd Drive and Durham.. Ryan Dierker of Newcor represented Jenkins. The property was purchased by 4815 Katy Freeway LLC, represented by Scott Rubenstein of Pipeline Realty.

PASADENA, Texas – Liongate Holdings I LP sold a 3,081-SF retail building at 4030 Spencer Hwy. to Emery Albert Laiw, trustee. Austen Baldridge and Bob Conwell of NewQuest represented the seller of the asset, which is Triple Net-leased to Black Rock Coffee Bar. Craig Elster of Marcus & Millichap represented the buyer.

MAGNOLIA, Texas – Marble Slab & Great American Cookie Company has leased 1,400 SF of retail space in Shoppes at Magnolia Circle from NewQuest. Lara Lee LaMendola and Andrew Alvis of NewQuest represented the landlord. Kristen Barker of Edge Realty Partners represented the tenant.

TEXAS — RNR Real Estate Briefs from Realty News Report

FORNEY, Texas – StreetLevel Investments, a Texas-based developer, has broken ground on Village at Gateway, a 120-acre mixed-use development in Forney’s 2,000-acre Gateway master planned development. Designed by GFF with Ridgemont Commercial Construction serving as the general contractor, the Village at Gateway will be anchored by Target (144,000 SF), Home Depot (135,000 SF) and H-E-B (130,000 SF). David Copeland and Ryan Griffin of Edge Realty Partners handle retail leasing.

DALLAS — JLL has completed 54,000 SF of deals at Lakeside Square in North Dallas, including Audacy, Buckner International, Sweet James and SmartMoving. JLL’s Trevor Franke, Gini Rounsaville and Hudson Neuhoff handle leasing efforts at Lakeside Square on behalf of building owner Acram Group. Lakeside Square is a 409,544 SF Class A office building in North Dallas.

AUSTIN – Additional retail options, medical services and a new park are all coming soon to Goodnight Ranch, a 700-acre, reasonably-priced, mixed-use neighborhood eight miles southeast of downtown Austin. Goodnight Ranch was developed by Benchmark Austin, a firm led by Myra Goepp, president of Benchmark Austin. New tenants will include Meow Bark Veterinary, Action Behavior Centers, Amazing Explorers and Boba Magic.

RICHARDSON, Texas — Provident, a privately held real estate and investment ﬁrm, acquired Lakeside Campus, an office asset in Richardson. Lakeside was built as the 807,354 SF tower and lab building for Nortel. Currently, RealPage is a major tenant. Gary Carr and Robert Hill of Newmark assisted Provident.

FORT WORTH – Jackson-Shaw, a national real estate developer headquartered in North Texas, announced four leases at Chisholm 20, a four-building, 917,374-SF business park in Benbrook, Texas. The new tenants at Chisholm 20 include:TeaBevCo: Occupying 76,839 square feet in Building 1, TeaBevCo, Mooring, Aaron’s and U.S. Autoforce. Miles Terry is Jackson-Shaw’s Vice President of Development, Chief Partners is the equity partner, Ridgemont Commercial Construction is the general contractor, GSR Andrade is the architect, Kimley-Horn is the civil engineering firm and Veritex Community Bank and Comerica Bank are the lenders. CBRE’s Steve Koldyke, Kacy Jones and Brian Gilcrest are the leasing team.

NATIONAL — RNR Real Estate Briefs from Realty News Report

ATLANTA — Hunter Hotel Advisors announced the sale of the Fairfield Inn & Suites Atlanta Buford Mall of Georgia. Woodvale acquired the property from Hotel Equities. Hunter’s Lee Hunter and David Perrin facilitated the transaction.

PHOENIX – Cushman & Wakefield advised the sale of Phoenix Airport Logistics, a 393,484 SF warehouse building in Phoenix’s sought-after Airport submarket. The multi-tenant industrial asset was acquired by INDUS Realty Trust. Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group facilitated the transaction.

SAN DIEGO, Calif. – Cushman & Wakefield advised San Diego-based RPG in the sale of a newly completed, 88,552 SF freestanding industrial building on 9.5 acres in Escondido. The buyer, the San Diego County Water Authority, purchased the property for $38.76 million.

MIAMI – Miami-based Blue Atlantic Partners Fund II an affiliate of Atlantic Pacific Companies has closed $239.2 million of Freddie Mac debt to refinance seven apartment communities in the Sun Belt. The collateral properties, with 2,055 units combined, are in the Dallas/Fort Worth (three properties), Atlanta (three properties) and Raleigh-Durham (one property) markets.

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