RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs — (Realty News Report) — SUGAR LAND, Texas – CBRE has announced a 31,260-SF lease at Stiles Lane Business Park in Sugar Land, to Ferguson, the largest value-added distributor serving the North American construction market. Virginia-based Ferguson will primarily support multi-trade HVAC and plumbing professionals from this location, its 15th location in the Houston area. Ferguson has more than 1.4 million SF of real estate in the Houston metro, with demand for more. Jason Dillee and Nick Bergmann with CBRE represented Ferguson. The landlord, Pearl River Cos., was represented by CBRE’s Cape Bell and Greg Holmes. “Ferguson saw a unique opportunity to secure a location with quick access to the beltway which allows them to service a high number of rooftops in the area,” said Bergmann, Vice President with CBRE.

HOUSTON — Colliers announced the sale of an office condo at 25420 Kuykendahl Road, Suite C400, in The Woodlands. Speak Speech Therapy purchased the property for their growing practice already located within the development. Michelle Soderberg of Colliers represented the seller, AJA Holdings.

KATY, Texas — Blue Fish Pediatrics has relocated to a purpose-built, 8,600-SF building at 23211 First Park Drive near the Grand Parkway in Katy. The practice relocated from a space within Memorial Hermann Katy. The build-to-suit project was developed in partnership with Texas-based 35 South Capital, which served as lead developer, coordinating with Angler Construction as general contractor and Identity Architects as architect of record. Founded in 2005 by Drs. Peter Jung and Chris Pielop, Blue Fish Pediatrics operates eight locations.

PEARLAND, Texas – Candlewood Suites Pearland, a 76-room IHG Hotel at 9015 Broadway in Pearland, has been sold. Skyler Cooper, Chris Gomes, and Allan Miller of Marcus & Millichap brokered the sale.

HOUSTON — Oxford Partners represented HD Hyundai Electric, HD Hyundai Heavy Industries, HD Hyundai Oilbank in the lease relocation of 4,891 SF at 16285 Park Ten Place. Ryan Hartsell represented the tenant. The landlord, Franklin Street Properties, was represented by Tony Allen of Pollan Hausman Real Estate Services.

HOUSTON — TF Warren Group purchased a 104,957-SF building at 12001 Hirsch Road. Ryan Hartsell, Matt Rogers, and Stephen Hazen of Oxford Partners represented the buyer. Carlton R. Anderson and Nathan Mai of Mohr Partners represented the seller.

HOUSTON — Finial Group announced the completion of a seven-building industrial development totaling 169,860 SF at 6811 McHard Road. Finial Group acquired the site in 2019 and completed the development in three phases over five years. The first two buildings were purchased by EquipmentShare and AJI, Inc. Precision Manufacturing and TradeBlock Inc. leased buildings in phase two. An investor acquired buildings leased to Star Services Inc. and Insu-W-Rapid Americas. A user-owner acquired the remaining vacant building. The development was spearheaded by Dylan Schopper with support from Jason Gibbons, William Alcorn, and Tyler Holt.

HOUSTON — Oxford Partners represented 4807 Sugar Grove Holdings LLC in the purchase of the 1,250-SF building at 4807 Sugar Grove, Unit 702, Stafford. Vincent Vega of Oxford represented the buyer while Jessica Huang of Jessica Realty represented the seller.

HOUSTON — Dallas-based Ashford Hospitality Trust has agreed to sell the 242-room Hilton Houston NASA Clear Lake in Houston for $27 million. The sale is expected to be completed in June.

TEXAS

DALLAS — Scott Felder Homes, a prominent homebuilder sponsored by investment firm Platform Ventures with operations in Austin, San Antonio, and Denver, has expanded into North Texas with the acquisition of Olivia Clarke Homes. Founded in 2020, Olivia Clarke Homes will continue to operate under the same name and founder Jennifer Johnson will remain onboard. Builder Advisory Group advised Olivia Clarke Homes on the sale.

AUSTIN — Healthcare2U, LLC leased 7,832 SF at 7600 N. Capital of Texas Highway, Austin. Perry Mazzone of Oxford Partners represented the tenant. The landlord, 7600 Cap TX, LP, was represented by David Stojanik of The Kucera Cos.

DALLAS – Finial Group purchased a 14,520 SF single-tenant industrial building at 2150 Lone Star Drive in Dallas. Grant Gibson, Jason Gibbons, and Jack Gaffney represented the buyer. The transaction was structured as a sale-leaseback with the seller, Lone Star Flower Market, a wholesale flower distributor with more than 20 retail locations across the country.

VICTORIA, Texas — Duos Technologies Group, through its operating subsidiary Duos Edge AI, announced a strategic partnership with Region 3 Education Service Center to deploy a new Edge Data Center in Victoria, Texas. The center will serve as a computing hub supporting 37 school districts in the Region 3 footprint.

BOERNE, Texas — A joint venture of Mixton Capital Partners and Inverlochy Capital Management acquired a 100-unit garden-style apartment property at 125 Crosspoint Road in Boerne. Built in 2000, the community will be rebranded as Crosspoint Oaks at Boerne.

National

ORLANDO, Fla. – Chicago-based Pearlmark, in partnership with Ashcroft Capital, acquired Birchstone Waterleigh, a 300-unit multifamily property in the Horizon West master-planned community 20 miles southwest of downtown Orlando. The property will be managed by Birchstone Residential, Ashcroft’s in-house property management and construction management company. The property is less than 4 miles from Walt Disney World. The property was formerly Ascend Waterleigh Club.

COLORADO SPRINGS, Colo — Thompson Thrift announced the sale of Upland Flats, a 300-unit apartment complex in Colorado Springs to NALS Apartment Homes. Matt Barnett, Dan Woodward, Jake Young, and Dave Potarf of Walker & Dunlop brokered the sale.

Etc.

HOUSTON — Houston-based Tricoast Homes announced the grand openings of the Summer Place, a 67-home community in Montgomery County, and La Segarra, a 215-acre community in Pattison in Waller County.

Mark Your Calendar

Houston Design Collaborative will sponsor an education program on June 5, from 5 to 7 pm at the University of Houston College of Architecture Theater, 4200 Elgin. The panel will focus on construction robotics and fabrication technologies. Contact: houstondesigncolab@gmail.com.

Image: courtesy Pearl River Cos., CBRE

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