RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON — Colliers announced the sale of 11999 Katy Freeway, a 104,825 SF office building on 3.24 acres in Houston’s Energy Corridor. David Carter and Bill Byrd of Colliers represented the seller.

HOUSTON – Ezee Fiber leased 94,179 SF at 5959 Corporate Drive in Houston’s Southwest Freeway submarket. Transwestern Real Estate Services’ Michelle Wogan and Paula Musa represented the building owner, Prescott Group. Ezee Fiber, an internet service provider, will consolidate its Houston locations into a single corporate headquarters. Todd M. Smith is CTO of Transwestern’s Technology Properties Group.

HOUSTON — Griffin Partners, a Houston-based real estate firm, has been awarded the property management contract for 16430 Park Ten near I-10 and Highway 6 in West Houston. The building owner, First Service Credit Union, serves more than 90,000 members. The firm occupies more than 78,000 SF in its 110,408 SF building where some 200 credit union workers are employed.

HOUSTON – Lee & Associates – Houston announced the renewal and expansion of a 29,308 SF lease for the headquarters of Gate Holdings at Republic Square office building in the Energy Corridor area. The three-story, 300,000 SF office building is near the Katy Freeway and Memorial Drive and is adjacent to Terry Hershey Park. Bill Insull and Blake R. Virgilio of Lee & Associates — Houston represented the landlord, Houston EC Development, and Gate Holdings was represented by Alex Taghi of Franklin Street.

HOUSTON – Partners Capital, the investment platform of Partners Real Estate, has fully realized its Opportunity Fund II portfolio following the recent sale of San Marcos Place. The fund was launched in 2017 to acquire and reposition a portfolio of Texas properties. “Our focus on value-driven investments in high-growth markets enabled us to achieve a 15.6 percent average net investor IRR and a 1.8x average net investor equity multiple,” said Andrew Pappas, president of Partners Capital.

ANGLETON, Texas – Land Advisors Organization’s Houston office completed the sale of 50.5 acres in Angleton, south of Houston, to business owner Angleton Realty. The buyer plans to develop the vacant parcel into a rental RV park and commercial development with easy access to Highway 288. The seller, Rancho Isabella, LLC, was represented by Land Advisors Organization’s Kirk Laguarta, Duane Heckmann and Nate Jackson. The buyer, Angleton Realty, was represented by Darbe Gosda of CBRE.

HOUSTON – Stream Realty Partners represented Kanner & Pintaluga, a national personal injury law firm, in the expansion of its presence in Texas. The 8,083 SF lease at the 46-story San Felipe Plaza, 5847 San Felipe, is a milestone as the law firm expands beyond its Florida headquarters into Houston. Stream’s Tripp Pruet, Greg Katz, Shay Pope and Carlyle Coffin represented Kanner & Pintaluga. Andy Parrish with Partners Real Estate represented the landlord.

HOUSTON – POST Houston, Lovett Group’s redevelopment of the downtown post office building, is now home to a flagship bank of electric vehicle chargers — the first universal Superchargers in the Houston area. The charging bank consists of 48 stations, including 24 Level 3 Superchargers compatible with most electric vehicles. The facility also includes 24 Level 2 Universal Chargers.

GALVESTON — Native Galvestonian and developer of Galveston’s Roseate Beach, Manny Mehos, has selected Houston-based brokerage Nan & Company Properties as the exclusive partner to market and sell homesites in Roseate Beach. Nancy Almodovar is CEO of Nan & Company.

CONROE, Texas – Colliers announced the sale of two industrial buildings totaling 15,000 SF at 12062 and 12068 FM 3083 in Conroe.. The buyer, Timberline Environmental Services, was represented by Joel English and Flavio Beato of Texas CRES. The seller, FDJ Holdings, was represented by Michelle Soderberg and Tom Condon Jr. of Colliers. The closing was coordinated by Brandi Jones with Stewart Title of Montgomery County.

HOUSTON — Oxford Partners’ Jacob Summers and Stephen Hazen represented Pressify, Inc. in the leasing of 35,200 SF at 9960 W Sam Houston Parkway S. The landlord, Stone Mountain Properties, was represented by Matt Easterling and Ryan Burnaman of LandPark.

HOUSTON – The Finial Group’s Jason Gibbons, Tyler Holt, and William Alcorn facilitated a 25,425-SF industrial warehouse lease at 6811 McHard Road, Building 7 in the Independence Business Park. The tenant, Insu-Rapid Americas, specializes in innovative insulation solutions.

VICTORIA, Texas – Aria Victoria Apartments, LLC announced the acquisition of a residential property, Aria Victoria in Victoria, for $28.8 million. Joe Hooker is the Acquisitions Manager for Aria Victoria Apartments, LLC.

HOUSTON — Oxford Partners’ Perry Mazzone represented Lapeze & Johns in the lease renewal of 4,048 SF at 601 Sawyer. The landlord, Silver Star CRE, LLC, was represented by Evelyn Ward, Avery McGahee and Michael Sieger of Transwestern

TEXAS — RNR Real Estate Briefs from Realty News Report

SELMA, Texas – Partners Real Estate, representing owner-developer Ackerman & Co., has secured leases of 147,420 SF with Omega Air and 62,400 SF with Southland Industries at Corporate Drive Industrial Complex near San Antonio. The newly built logistics park is less than a mile from I-35. Partners brokers John Colglazier, Kyle Kennan and Lindsey Tucker completed the leases on behalf of owner, Ackerman & Co. Hank Pruitt of Pruitt Realty represented Omega Air and Davis Bass of HPI Real Estate Services & Investments represented Southland Industries.

SAN ANTONIO — Chicago-based Pearlmark, in partnership with Austin-based OTH Capital, acquired 1800 Broadway, a 228-unit apartment community adjacent to the historic Pearl District of San Antonio where the Pearl Brewery was founded in 1883. The property has two four-story buildings and a 354-space parking garage. Stephen Quazzo is CEO of Pearlmark.

McKINNEY, Texas — Cushman & Wakefield represented Morrow Renewables in the acquisition of 230 E. Hunt St. in McKinney, near Dallas. Ryan Hoopes and Johnny Johnson represented Morrow to obtain the 17,550 SF office building from Tynas Texas, LP. The new owner will continue to occupy the property as its headquarters.

DALLAS – Denver-based Quannah Partners and Dallas-based VaultCap Partners announced the sale of their Townhomes at Bluebonnet Trails, a 114-unit community in Waxahachie, 30 miles from Dallas. A Quannah and VaultCap joint venture acquired the property in two phases – 56 units in June 2021 and 58 units in April 2022.

SAN ANTONIO — Huntington Industrial Partners announced it has broken ground for its I-10/I-410 Distribution Center Project — an industrial spec development in San Antonio. The 309,806 SF project being created in two buildings on Kiefer Road is slated for completion by September 2025. Carlos Marquez and Sergio Acosta of Cushman & Wakefield are the exclusive leasing agents for the I-10/I-410 Distribution Center.

AUSTIN — Barker Pacific Group bought the 124-unit Chesapeake Apartments on Hymeadow Drive in Northwest Austin. Will Dickinson is vice president of office & multifamily at BPG and Alex Bacon is vice president of multifamily. The deal was acquired via loan assumption through Fannie Mae, serviced by Walker & Dunlop, which was led by Alex Inman, who originated the loan and coordinated the assumption, and Forrest Bass, who brokered the sale. RPM Living will handle property management.

ARLINGTON, Texas – Skywalker Property Partners of Arlington has acquired 177,000 SF of industrial space in Weslaco in the Rio Grande Valley for its latest value-add fund, The Leverage Strikes Back, LLC, which has the capacity to purchase up to $250 million in commercial real estate. Jack Mock of Skywalker Property negotiated the transaction with Lyon Gegenheimer of Lyon Real Estate.

SAN ANTONIO –The Rainier Companies, a real estate investment firm headquartered in Dallas, announced the disposition of its San Antonio Crossing, a 145,819 SF regional shopping center at Bandera Road and Loop 1604. H-E-B is the anchor tenant. Marcus & Millichap assisted.

HUTTO, Texas — Basil & Bites leased retail space in Townwest Commons from NewQuest. Josh Friedlander and Leni Sandoval of NewQuest represented the landlord. John Nguyen and Thad Mai, also with NewQuest, represented the tenant.

SAN ANTONIO – Houston-based 35 South Capital acquired The Collection, a mixed-use center in San Antonio’s Alamo Heights area. The 52,000-SF center, which sits on 3.75 acres, is home to the SoLuna Mexican restaurant. The seller is an entity affiliated with Lindenmuth Realty LP.

NATIONAL — RNR Real Estate Briefs from Realty News Report

LAS VEGAS — Caesars Entertainment sold the LINQ Promenade entertainment district on The Strip for $275 million. The buyer is a joint venture of TPG Real Estate and Acadia Realty Trust. The LINQ Promenade features the High Roller Ferris wheel and 35 restaurants and retail stores, such as Gordon Ramsay Fish and Chips, In-N-Out Burger and Yard House.

TAMPA, Fla. – Second Avenue, a Tampa-based single-family rental platform, acquired Pacific Oak Residential, a Jacksonville-based property management company overseeing 2,110 single-family homes valued at $400 million. The acquisition expands Second Avenue’s portfolio to 5,300 homes under management and increases its assets under management to $1.5 billion.

CHARLOTTE, N.C. – Lion Real Estate Group, a Dallas-headquartered real estate investment firm focused on acquiring value-add multifamily properties, acquired a two-property, 208-unit Charlotte apartment portfolio that was rebranded as Creekside Canopy. The acquisition was made on behalf of Lion’s Fund III investment vehicle. Ben Kriegsman is vice president of acquisitions at Lion. John Phoenix and Gavin Conlon at Cushman & Wakefield were also involved.

MONTGOMERY, Ala. — DWG Capital Partners, in partnership with Dorado Holdings, has acquired the 106-unit Cloverdale Estates near Montgomery’s Cloverdale Historic District. According to DWG Capital Partners President Judd Dunning and Dorado Holdings Managing Partner Simon Miller, 70 percent of the units have been upgraded. The seller, RK Cloverdale, LLC, was represented by Josh Jacobs of Marcus & Millichap.

ORLANDO – Crescent Communities celebrated the opening of the 325-unit NOVEL Parkway apartments in Sanford, Florida. Partners on the community include equity investor  Heitman; lender Wells Fargo; general contractor Doster Construction; LRK, Inc. acting as lead architect; and Madden, Moorhead, & Stokes, LLC as civil engineers.  Landscape architecture is by Dix Heit and interior design by CID Design Group.

ETC. — RNR Real Estate Briefs from Realty News Report

MAG Capital Partners Expanding Hughes Tank Manufacturing

DALLAS — MAG Capital Partners announced the completion of Hughes Tank Company’s 48,000 SF expansion on FM 157 in Venus, Texas. The expansion will greatly increase manufacturing and painting capacity. The Dallas-based firm purchased Hughes Tank Company along with its original 92,110 SF facility on 20 acres in 2023.

“Our decision to acquire Hughes Tank was an easy one,” said Dax T.S. Mitchell, principal of MAG Capital Partners. “MAG Capital Partners chose to immediately move forward with this expansion and other cap ex projects the day we closed.”

The facility totals 140,110 SF, allowing Hughes Tank to increase its output and offer new product lines. The company manufactures highest-standard fuel tanks for above-ground and underground storage for a wide range of industries—including petroleum, agriculture and manufacturing—and fuel storage solutions for data centers that rely heavily on back-up power generators.

Recently, Hughes Tank assisted in critical hurricane relief efforts. The company shipped more than 100 tanks in multiple loads ranging from 500 to 4,000 gallons to support emergency fuel storage needs in Florida and the Carolinas after Hurricanes Helene and Milton.

Randy Gonzalez is CEO of Hughes Tank Company. Bobby Hughes is co-founder.

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Trey Odom of Avera

LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston +

LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings

LISTEN: THE RALPH BIVINS PROJECT with Jeff Havsy of Moody’s Analytics

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

LISTEN: THE RALPH BIVINS PROJECT with John S. Moody, Jr. of Moody Law Group

LISTEN: THE RALPH BIVINS PROJECT with Scott Martin of Granite Properties

LISTEN: THE RALPH BIVINS PROJECT with Robert Clay of Clay Development

LISTEN: THE RALPH BIVINS PROJECT with Alma Zavala of CommGate

LISTEN: The RALPH BIVINS PROJECT with Adam Lair of Partners Capital