RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – GALVESTON, Texas — Developer Manny Mehos has partnered with Alair Homes as the preferred custom home builder in the Roseate Beach master-planned community being developed on Galveston Island’s West Beach. Led by Bryan Phillips, Alair Homes has collaborated with Rice Residential Design on a collection of homes ranging from 2,000 to 4,500 SF. Located on FM 3005 near 11 Mile Road, Roseate Beach will have 160 homesites including 22 lots with beach frontage. Nan and Company Properties is marketing lots in the project. A Galveston native, Mehos is CEO of Green East Realty and developer of Roseate Beach.

HOUSTON — Cushman & Wakefield arranged a syndication of a senior loan collateralized by Big Sky Medical’s three medical-outpatients building portfolio in the Houston market. The properties include of Memorial Hermann Convenient Care Centers in League City, Spring, and Katy. Tyler Morss with Cushman & Wakefield’s Healthcare Capital Markets Team collaborated with Gideon Gil from the firm’s Equity, Debt & Structured Finance platform to represent Big Sky Medical Properties and GFH in the syndication, which includes Siemens and First Horizon Bank.

BAYTOWN, Texas — Marcus & Millichap brokered the sale of a industrial outdoor storage property in Baytown in a 1031 exchange transaction. Built in 2021, the property at 12825 Upland Way has over 20,000 SF of building space on six acres and is occupied by EquipmentShare. Peter Bauman and Tivon Moffitt of Marcus & Millichap’s Phoenix office represented the seller, a publicly-traded REIT. Nick Geaneotes and Derrick Dougherty in the firm’s Philadelphia office procured the buyer, a family investment group in New York. Stephen Fillipo of Marcus & Millichap Capital Corporation secured financing.

TOMBALL, Texas — Big City Wings leased 4,900 SF in the Grand at 249, located at the intersection of TX 249 and Grand Parkway/TX 99 in Tomball from NewQuest. Andrew Alvis of NewQuest represented the landlord. George Jones of GWJ Commercial Properties represented the tenant.

HOUSTON — Oxford Partners represented Peak Paper Plastics, LLC in the sublease of 22,560 SF at 3717 Yale. Austen Buckalew of Oxford Partners represented the tenant. The sublessor, Crazy Boss LLC, was represented by Dustin Cruz and Kayla Kigh of Cresa.

TOMBALL, Texas — Aji Izakaya leased 2,450 SF of retail space in the Grand at 249 in Tomball from NewQuest. Andrew Alvis of NewQuest represented the landlord. Myra Maof United Real Estate represented the tenant.

MONTGOMERY, Texas – Hutson Realty Partners announced a new lease for Rejuve Salon + Spa, beauty salon which will occupy 1,763 SF at 21065 Eva St. in Montgomery. The lease was facilitated by Ashley Gibson of Hutson Realty.

HUMBLE, Texas —Milstone Texas Holdings LLC sold an 8,600-SF bank building with four drive-thru lanes at 111 FM 1960 Bypass East in Humble to PDC Maverick DP LLC. Kevin Sims and Nick Ramsey of NewQuest represented the seller. Travis Waltmon and Jeff Hayes of Palo Duro Commercial Partners represented the buyer.

HOUSTON — Quick N Clean TX-01 LLC sold a car wash on a 0.95-acre tract at 704 Thornton Road in Houston to CCWRM TX 106 Thorton LLC. Nick Ramsey of NewQuest represented the seller. Travis Waltmon of Palo Duro Commercial Partners represented the buyer.

TOMBALL, Texas — Active Life Dentistry leased 2,100 SF of retail space in the Grand at 249 in Tomball from NewQuest. Andrew Alvis of NewQuest represented the landlord. John Phelps of Phelps Commercial Realty represented the tenant.

Texas

MCKINNEY, Texas — Globe Life announced plans to acquire the recently developed, six-story office building at 7677 Henneman Way in McKinney for its corporate headquarters. SouthState Bank is the seller. Cushman & Wakefield’s Campbell Puckett, Ryan Hoopes, Bill McClung, Tucker Hume, Zach Bean, and Chris Taylor represented Globe Life and SouthState Bank in the transaction. The 200,000-SF building was developed as Independent Bank’s headquarters in 2022 before the bank’s acquisition by SouthState Bank. Globe Life will retain over 2,000 jobs in McKinney. Two adjacent tracts of land are also being acquired. “We are excited to announce the relocation plans of our corporate headquarters,” said Globe Life Co-Chairman & CEO Matt Darden.

GRAND PRAIRIE, Texas — Geekoto Technology Co. leased 11,656 SF of flex space at 1362-1366 W. Carrier Parkway, Grand Prairie, from First Industrial Texas LP. Jim Ferris of Bradford Commercial Real Estate Services, represented the tenant. Brian Gilchrist and Steve Koldyke of CBRE represented the landlord.

FREDRICKSBURG, Texas —Adair Concepts, a local restaurant group with eight brands spanning 16 locations, will open a Los Tios Mexican Restaurant in Fredericksburg in the spring of 2025. Los Tios will occupy a 5,000-SF space in the former August E’s Restaurant at 203 E. San Antonio Street in the town’s historic district. The Houston Tex-Mex legacy brand known for its puffy queso since the 1970s has grown to six restaurants since joining the Adair portfolio in 2000. Nick Adair and his wife Alice also own and operate Fredricksburg’s Trueheart Hotel, a 13-room boutique inn.

SAN ANTONIO — The Finial Group announced the sale of a 12,000-SF industrial warehouse at 4223 Dividend Road in San Antonio. Chase Tucker, Jack Gaffney, and William Alcorn represented the seller.

FORT WORTH, Texas — CR Fitness Holdings, LLC, the leading franchisee of Crunch Fitness, announced plans to open Crunch Summer Creek, a $12 million fitness facility spanning 35,111 SF at 5317 Sycamore Lake Road in Fort Worth. Opening is planned in late 2025.

National

COLORADO SPRINGS, Colo. — Cushman & Wakefield announced the sale of the Tech Center VI office building, a three-story building totaling 104,702 SF at 5575 Tech Center Drive in Colorado Springs. An entity managed by Alloy Real Estate Capital purchased the building for $17.25 million. The building was 97% leased to 17 tenants primarily in the aerospace defense and government contractor industries. Cushman & Wakefield’s Aaron Johnson, Jon Hendrickson and Mitch Veremeychik represented the seller, Tech Center VI, LLC, an entity managed by Ogilvie Properties.

MIAMI — Atlanta-based Hunter Hotel Advisors announced the placement of a $35.5 million senior note for the Moxy Miami Wynwood hotel. Baywood Hotels secured the financing from Synovus Bank as part of a broader recapitalization for the hotel. Developed through a 50/50 joint venture between Baywood Hotels and Dolphin Capital Partners, the 120-key hotel opened at 255 NW 25th Street in Miami’s Wynwood creative district in October. Charlie Ryan represented the borrower. The 8-story Moxy project spans more than 110,000 SF and features two restaurants managed by Noble 33: Sparrow Italia, an 8,000-SF modern Italian eatery with 203 seats, and Casa Madera, an 18,500-SF modern Mexican Mediterranean restaurant and rooftop club with 362 seats.

CHARLOTTE, N.C. — Crescent Communities sold its interest in NOVEL Ballantyne, a 285-unit apartment property on Bespoke Road in Charlotte’s Ballantyne neighborhood. Partners on NOVEL Ballantyne include Cooper Carry architects, structural engineer Ellinwood + Machado, MEP engineer IMEG Corp., landscape architect LandDesign, and interior designer Vignette. Crescent’s Ballantyne mixed-use development also includes Laurel Street’s mixed-income 55+ active adult housing complex, The Balmore at Ballantyne, and a future townhome community.

MONTGOMERY, Ala. — First National Realty Partners, a national private equity commercial real estate firm based in New Jersey, has acquired the Country Club Centre shopping center on Carter Hill Road in Montgomery, Ala. The center is anchored by a 36,000-SF Winn-Dixie grocery store. Gary Chou with Berkley Capital Advisors represented the seller.

Photo: The Moxy Hotel in Miami’s Wynnwood District, which is known for its extensive murals on building exteriors. Photo courtesy: Hunter Hotel Advisor

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