RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report — HOUSTON– Transwestern Real Estate Services announced DNV, USA signed a new 62,779-SF lease at The Offices at Greenhouse, a 208,809-SF Class A office building located at 19219 Katy Freeway in the Energy Corridor. Transwestern’s Doug Little, Jack Scharnberg and Kelli Gault represented the landlord, Capital Commercial Investments. Collin Grimes of JLL represented the tenant.

STAFFORD, Texas – Colliers announced the purchase of a 119,866-SF industrial building located at 12755 S Kirkwood Road in Stafford. Situated on 6.8 acres, the property was acquired by Chemplast, a supplier of specialty plastic product. Barkley Peschel and Jason Scholtz of Colliers represented the buyer in the transaction.

HOUSTON – The CityNorth 1 and CityNorth 6 office towers in Greenspoint will be auctioned off in mid-February by Ten-X. David Carter of Colliers is the broker. The 254,000-SF CityNorth 1 is a 12-story building at 233 Benmar Drive. The 356,000-SF CityNorth 6 is a 14-story tower at 12450 Greenspoint Drive. The buildings were part of the Exxon complex before Exxon built a 3 Million-SF campus in Springwoods Village about 10 years ago.

GALVESTON, Texas – Fertitta Hospitality, led by Tillman Fertitta, has completed multi-million-dollar renovations of the Hilton Galveston Island Resort located at 5400 Seawall Blvd. Jeremy Bukac is the hotel’s general manager.

HOUSTON — Oxford Partners represented DGP Capital, LLC, in the lease of 2,168 SF at 820 Gessner Road. Oxford Partners’ Perry Mazzone and Ryan Hartsell represented the tenant, DGP Capital, LLC. The landlord, Memorial City Towers, Ltd., was represented by Warren Alexander and Brad MacDougall of MetroNational.

HOUSTON – Colliers announce the lease of 44,978 SF by D&R Signs at Constellation Post Oak, Building 2, located at 15012 S Post Oak Road. The tenant, D&R Signs, was represented by Heath Donica, Eric Crutchfield and Mac Hall with Stream Realty Partners. The landlord, Constellation Real Estate Partners, was represented by Zack Taylor and Barkley Peschel of Colliers. Constellation Post Oak is a new two-building, 424,011-SF development, a half a mile from Beltway 8.

PASADENA, Texas — Buffalo Wild Wings to Go has leased 1,500 SF of retail space in Southmore Village near Shaver Street in Pasadena from NewQuest. Bob Conwell and Austen Baldridge represented the landlord. Shireen Owlia and Diandra Breen, also with NewQuest, represented the tenant.

HOUSTON – Cresa has acquired Axis Tenant Advisors, a Houston boutique commercial real estate firm. Axis founder Scot Ison will be a principal in Cresa’s Houston office.

FULSHEAR, Texas — Alloy Personal Trainer has leased 1,330 SF of retail space in Cross Creek Commons near FM 1463 in Fulshear from NewQuest. Lara Lee LaMendola of NewQuest represented the landlord. Chris Thompson of Realty ONE Group represented the tenant.

TEXAS — RNR Real Estate Briefs from Realty News Report

DENTON, Texas — Cushman & Wakefield has arranged the sale of the 145,000 SF Granite Point Business Center, a distribution property in Denton, north of Dallas. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry represented TA Realty LLC in its sale to High Street Logistics Properties.

DALLAS — Real estate investment, development and finance company Bolour Associates’ affiliate, BAI Fund Manager provided acquisition financing for a 112-unit affordable housing community at 4753 Duncanville Road. John Choi of Concord Summit Capital represented the borrower.

AUSTIN — Developer Northland Living, a subsidiary company of Canadian hospitality and development firm Northland Properties Corp., plans to build a 35-story luminary on a 0.81-acre site at the northwest corner of 14th and Guadalupe streets. It’s the first condo building to come to the downtown Austin market in three years. A sales center has already opened at 501A W. 15th St.

NATIONAL — RNR Real Estate Briefs from Realty News Report

MOBILE, Ala. — JLL has been awarded the exclusive leasing assignment for Port Alabama Industrial Center, an 11.25 million SF industrial park coming to Baldwin County, 20 minutes east of the Port of Mobile. The campus, strategically positioned along Alabama’s Gulf Coast, will launch vertical construction this month. JLL Executive Vice President Allen Garstecki is leading leasing efforts on behalf of the owner, Gulf Corporation.

MUSKOGEE, Okla. — Stardust Power, an American developer of battery-grade lithium products, has broken ground on its $1.2 billion lithium refinery in Muskogee. It will be one of the largest in the U.S. The 66-acre facility will eventually be able to produce up to 50,000 metric tons per year of battery-grade lithium.

RENO, Nev. — Cushman & Wakefield announced that members of its National Industrial Advisory Group have arranged the sale of an industrial portfolio totaling 497,875 SF across five buildings next to Reno-Tahoe International Airport. Nuveen Real Estate acquired the asset.

MURFREESBORO, Tenn. — Crescent Communities is developing the 309-unit multifamily Render Manchester Farm, 30 miles south of Nashville in Murfreesboro.

ETC. — RNR Real Estate Briefs from Realty News Report

MAG Capital Partners Acquires Rio Grande Valley Logistics Facilities Near McAllen, Texas

WESLACO, Texas — MAG Capital Partners has purchased two logistics facilities in Hidalgo County in a sale-leaseback transaction with McAllen, Texas-based Commodities Integrated Logistics (CiL).

Totaling 360,000 SF on 23 acres in Weslaco, the logistics properties are just east of McAllen near Mid Valley Airport.

With more than 30 years of operating history, CiL occupies more than 1.5 million SF of logistics space along the U.S.-Mexico border for the import, export, warehousing, distribution and transportation of industrial, commercial and perishable products. Additionally, CiL offers its CiL Deliveries System for small- and medium-sized manufacturers and entrepreneurs to benefit from digital commerce and treaties in place with the United States, Mexico and Canada.

“Considering the levels of historical and current trade between the U.S. and Mexico, especially through Texas, we believe these assets will always remain valuable and in strong demand,” said Dax T.S. Mitchell, principal of MAG Capital Partners.

Mexico was the United States’ top trading partner in 2023 with total two-way goods trade at $799 billion, according to the Office of the United States Trade Representative’s 2024 U.S.-Mexico High-Level Economic Dialogue Mid-Year Review.

As noted in the TxDOT’s 2024 Border District Trade Transportation Report, in 2022, Texas ranked first in terms of the value of goods traded with Mexico at $285.6 billion, followed by California at $91.3 billion.

Jovan Jokic with Helios CRE represented the seller.

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers

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

RNR Real Estate Briefs are published by Realty News Report