RNR Real Estate Briefs from Realty News Report -TOMBALL, Texas – JLL Capital Markets arranged the sale of Medical Center of Tomball, a newly constructed, Class A medical office building totaling 61,660 SF in the northern Houston suburb of Tomball. JLL represented the seller, a partnership of Bryant + Stacy Group and Global Healthcare Partners, and procured the buyer, MedProperties Realty Advisors. Built in 2022, Medical Center of Tomball is currently 94 percent occupied. The JLL Capital Markets Investment Sales and Advisory team was led by Brian Bacharach, Kevin McConn and Vasili Davos.
SUGAR LAND, Texas – Partners Real Estate arranged the sale of a 50,000-SF freezer/cooler building in Sugar Land Business Park located at 12501 Cardinal Meadow in Sugar Land. Partners’ Chris Caudill and Transwesterns’ John Ferruzzo, represented the seller, Mainna Investments, LP, in the transaction. The buyer, Gearment Investments, LLC, was represented by Will Austin at Bridge Commercial.
HOUSTON — The Howard Hughes Corp. announced Space City Orthodontics will open a 2,550 SF practice in Lakeland Village Center in Bridgeland, a master planned community. Located at 10519 Fry Road, Space City Orthodontics will open by the end of the year. Lakeland Village Center is the first of four planned village centers within Bridgeland and serves as a hub for dining, shopping and professional services
THE WOODLANDS — Oxford Partners recently represented Beyond Energy in the new lease of 4,411 SF at 25211 Grogans Mill Road, The Woodlands. Oxford Partners’ Chase McAteer represented the tenant, Beyond Energy. The landlord, Zenith Real Estate Services, Inc, was represented by Sarah Virani and Blaine Sinclair of Z Group Real Estate.
HOUSTON – Texas Furniture Installations, a company that provides for the installation of commercial furniture, signed a 9,430 SF lease at 9777 W Gulf Bank Road in Houston. Ed Ayres of Houston Realty Advisors represented the tenant. Rycore Brookhollow Property was represented by Carter Holmes and John Kruse, formerly with Holt Lunsford, with Cushman & Wakefield.
HOUSTON – NewQuest Properties has sold the one-year-old Shops at Rock Creek in northwest Houston to a local investor. It is a 21,250 SF project with a value-add component, a 32,726 SF vacant pad site, at 14119 Grant Road in Cypress. The 90 percent-leased Shops at Rock Creek is shadow-anchored by a 90,000 SF H-E-B grocery store. Marc Peeler and Andrew Alvis of NewQuest Properties represented the seller.
HOUSTON – Partners Real Estate arranged a 26,844-SF lease with Waste Management National Services located at 3010 Greens Road. Partners’ Chris Caudill represented the tenant, Waste Management National Services and Brad Berry, Ryan Wasaff, and Cole Bercher with Welcome Realty Services represented the landlord, Welcome Industrial Sub Seven, LLC.
MISSOURI CITY, Texas – Pediataric Urology of Houston has purchased its second location, a 3,280 SF medical office building at 4220 Cartwright Road in Missouri City. The seller was PeOCOC, LLC. Fleming Lester of SHB Development represented the seller and Melissa Gerber Brams of Gerber Realty represented the buyer.
HOUSTON — Partners Real Estate arranged a 5,000 SF lease with Choice Botanicals, Inc. at 12826 Hempstead Road in Houston. Partners’ Devin Hawkins represented the tenant. The landlord, RB Warehouses 290, was represented by Mickey Brown with Bernell and Associates.
HOUSTON — Texas Furniture Installations, a company that provides services for commercial furniture connections, signed a 9,430 SF lease at 9777 W Gulf Bank Road in Houston. Ed Ayres of Houston Realty Advisors represented the tenant. Rycore Brookhollow Property was represented by Carter Holmes and John Kruse, formerly with Holt Lunsford, now with Cushman & Wakefield.
HOUSTON – Partners Real Estate arranged a 15,600 SF lease with US Foods Inc. at 14720 Vickery Drive in Houston. Partners’ Clint Hankla represented the landlord, BOLCOF Lieberman Family, LLC. Nick Bergmann represented the tenant.
FORT WORTH – NAI Robert Lynn, a major Dallas-Fort Worth independent commercial real estate organization, has moved to a new, larger office in Fort Worth. Located at 201 South Adams St., the office will meet the firm’s future expansion needs as it continues to grow in the greater Fort Worth market. Headquartered in Dallas, this office move comes on the heels of NAI Robert Lynn’s recent announcement of its new Houston market office. “We have been fortunate to be a part of the incredible growth of the Greater Fort Worth market over the past decade,” said Todd Hubbard, managing principal and president of the Fort Worth office.
LAREDO, Texas – Stos Partners, a commercial real estate investment and management firm in Southern California, has announced the sale of a 79,883 SF industrial facility in Laredo for $9.15 million. San Diego-based Stos Partners was represented by Anthony DeLorenzo, Bryan Johnson, Nick Williams and Elizabeth Bachhuber of CBRE. Monica Rubio of Century 21 Olympian Commercial represented the buyer. “The Laredo market has seen great demand for prime industrial assets because of its strong fundamentals and proximity to the United States-Mexico border,” said CJ Stos, principal at Stos Partners.
DALLAS –– Blue Drake announced the launch of its second fund, Blue Drake Med Fund II, a $70 million private equity fund. Fund II focuses on healthcare real estate, targeting acquisition and development opportunities in healthcare, dental and veterinary markets, aggregating properties in the Sun Belt region with an emphasis on Texas.
SAN ANTONIO — Partners Real Estate arranged a 2,400 SF lease with Blue Collar Products at 13138 Lookout Run in San Antonio. Partners’ Brian Heines represented the tenant. Darren Kuyrkendal with Kuyrkendall & Company represented the landlord.
FARMERS BRANCH, Texas – AlarMax Distributors Inc. has leased 11,430 SF of office/warehouse space at 11431 Ferrell Drive, Farmers Branch, from Dallas Industrial TT. Kyle Espie and Briana Pafford of Bradford Commercial Real Estate Services represented the tenant. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial Inc. represented the landlord.
CORPUS CHRISTI, Texas – Partners Real Estate arranged the sale of a 66,196-SF office building located at 4646 Corona in Corpus Christi. Partners’ Gustavo Torres represented the seller, 1950 Properties, LLC.
CHICAGO– Hines announced that Hines Global Income Trust Inc. has acquired EMME, a multifamily property located in Chicago’s West Loop submarket. Willowick Residential, Hines’ multifamily property management firm, which manages more than 2,000 multifamily units in Chicago, will assume the role of property manager. Located at 165 N Des Plaines Street, EMME is a 14-story, 199-unit Class A multifamily development that is 96 percent leased.
SALT LAKE CITY, Utah –– Patrinely announced that Common Desk, a Texas-based company offering coworking and office memberships to businesses and professionals, will manage a coworking operation at 650 Main. Located at Main Street and 600 South in downtown Salt Lake City, 650 Main is a 10-story, 335,000 SF Class A office and retail development. The company will occupy 31,828 SF on the ground and second floor of the downtown building. “This is the third location we’ve secured with Common Desk,” said Dennis Tarro of Patrinely Group. The other two locations Common Desk are in Westchase and City Place in Houston.
PASADENA, Calif. — California-based KCB Real Estate acquired Project Commerce, a 740,000 SF portfolio of three mission-critical industrial assets comprising two distribution/warehouse facilities in Bowling Green, Ky. and a flex-warehouse facility in Eden Prairie.
Now Named 5POP, Building Signs Four Tenants
HOUSTON — CP Group announced four new leasing agreements, totaling 88,027 SF, at 5POP — a 28-story, 566,773 SF Class A office building at 4400 Post Oak Parkway in Uptown Houston. Angelo Bianco is managing partner of CP Group.
The agreements include two new tenants and two renewals/expansions:
- Thompson, Coe, Cousins & Irons, LLP, a Houston-based litigation firm, signed a new 61,875 SF lease for three full floors within the building.
- Thrivent, a financial advisory firm, signed a new 3,248 SF lease in one of the newly completed spec suites as part of CP Group’s worCPlaces flexible workplace offering. Josh LaRocca of Avison Young represented the tenant.
- Capital Star Oil and Gas, Inc., a Houston-based upstream oil and gas company, renewed and expanded its lease for 7,124 SF. Matt Trozzo of JLL represented the tenant.
- Hightower Holding, a financial advisory firm, extended its 15,780 SF lease. The tenant was represented by Benjamin Cooper of CBIZ Gibraltar and Anthony Fritsche of Fritsche Anderson.
Transwestern to Lease MOB Portfolio
HOUSTON – Transwestern Real Estate Services announced it has been named the exclusive leasing agent for a portfolio of four medical office buildings totaling 316,698 SF in Sugar Land and South Houston. Transwestern’s Justin Davis, Christian Connell and Justin Brasell will provide leasing services for the established assets on behalf of Pinecroft Realty.
The Class A medical office buildings include:
- Imperial Medical Center, a 128,819 SF medical office campus, is located directly off Highway 6 at 1111 – 1211 Highway 6 in Sugar Land. The two-story facility is highly visible, with tenant street signage available, multiple covered patient drop-offs and no hospital restrictions. Located within the center is a 35,000 SF, move-in-ready surgical hospital with four operating rooms, six inpatient rooms and full imaging capabilities (X-ray, MRI and CT).
- Sugar Land Medical Plaza, a 120,596 SF medical office building, is located off Interstate 69 at 1327 Lake Pointe Parkway in Sugar Land. The five-story, Class A facility provides covered patient drop-off and is on St. Luke’s Health – Sugar Land Hospital’s campus. It is currently 90 percent leased.
- Patients Medical Office Building, a 48,741 SF facility, is located off Beltway 8 at 4500 E. Sam Houston Parkway S. in Pasadena. The two-story building is currently 81 percent leased.
- Crenshaw Medical Office Building, LLC, is a 10,512 SF building at 5044 Crenshaw Road. It is currently 83 percent leased.
June 23, 2023 Realty News Report Copyright 2023
Photo Credit: Howard Hughes Corp.
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