RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs from Realty News Report – HOUSTON –  Keller Williams Realty leased 5,708-SF of retail space at 10444 Hempstead Road in Houston. Alex Makris, Patrick Keegan and Ryan DeGennaro of Partners Real Estate  represented the landlord, John Ganim.  Casey Dewees with Keller Williams Commercial represented Keller Williams.

DEER PARK, Texas — Northmarq’s  Riley Sharman  arranged the sale of a 11,692-SF shopping center at 3709 Center Street near East Pasadena Boulevard in Deer Park. Sharman represented the seller, a Florida-based investor. A local investor purchased it in a 1031 exchange. “One interesting factor was the limited inventory of retail strips for sale in this submarket, and my team was able to produce multiple offers for the seller,” said Sharman. Northmarq’s Houston debt and equity team of Larry Peters and Michael Borden secured financing for the buyer. The property, which is 75 percent occupied.

SPRING, Texas – SVN | J. Beard Real Estate – Greater Houston  facilitated the sale of Spring Hill Business Park in Spring. The 60,000 SF center in The Woodlands submarket is less than a mile from I-45 and Spring Woods Village.  Neal King  with SVN | J. Beard Real Estate – Greater Houston represented the two separate sellers, Spring Hill BP, LLC, and Spring Hill BP II, LLC. The buyer, SHB Park, LLC, is a private partnership.

HOUSTON – Bad Birdie,  a golf apparel retailer, opened its first Texas store at Montrose Collective in a 1,272 SF shop at 888 Westheimer Road. Jason Richardson founded Bad Birdie in Scottsdale, Ariz., about six years ago.

KATY, Texas – Oxford Partners  recently represented UltraPure in the new lease of 5,000 SF at 19976 Franz Road in Katy.  Oxford Partners’ Austen Buckalew   represented the tenant, UltraPure. The landlord, TNRG, was represented by Zain Shenwari  of TNRG.

THE HEIGHTS, Texas – 512 E 11th St. LLC has sold a 1,300 SF office building and 1,500 SF warehouse at 512 E. 11thSt. in Houston Heights to N Cubed, LLC. Rick Ragan  of NewQuest Properties  represented the seller. The buyer plans to open Heights-Studewood Pharmacy in the building. Quy Nguyen  of XITE Realty  represented the buyer.

HOUSTON — The Howard Hughes Corp.  announced that construction is in progress for Waller Independent School District’s first on-site elementary school in Bridgeland, a top-selling master planned community in Texas. The 112,000 SF campus will serve 750 students living in Prairieland Village and Creekland Village. The yet-to-be-named campus will open in 2024.

RICHMOND, Texas – Houston developers Milton Allen  and  Bobby Ferguson  announced multiple sales ranging from 1,200 SF to 9,000 SF and $400,000 to $2.2 million at Grand Park Professional Place, an office condo community featuring 10 stand-alone buildings at 7103 S Peek Road in Richmond.

THE WOODLANDS – Oxford Partners  represented Beyond Energy in the new lease of 4,411 SF at 25211 Grogans Mill Road in 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.

TEXAS – RNR Real Estate Briefs from Realty News Report

IRVING, Texas – Repairify Inc. has leased 13,000 SF of flex space in Las Colinas Distribution Center 5, 3241 Story Road in Irving, from Las Colinas AAA Investments, LLC. Brian Pafford  of Bradford Commercial Real Estate Services  represented the landlord. Chris Shilling  of Minerva Realty Group  represented the tenant.

McALLEN, Texas– Partners Real Estate arranged the sale of a 14,000 SF retail property at 220 S 15th St. in McAllen. Partners’ Evan Altemus  represented the buyer, Johnny Carson Family Trust. The asset was an opportunity for a California-based group to acquire a property within the popular McAllen Downtown District.  Cindy Hopkins  of Hopkins Real Estate  represented the seller whose family had owned the property for more than 70 years.

SAN ANTONIO – Partners Real Estate  arranged the sale of a 27,478 SF building at 3371 Roosevelt Ave. in San Antonio. Partners’ Phil Crane  and Dan Gostylo  represented the buyer, Garcia Properties. The seller was represented by Andrew Price  with CBRE.

FORNEY, Texas — Newmark arranged the sale Forney Logistics Crossing, a 904,495-SF, newly constructed, cross-dock industrial property located in Forney in the East Dallas submarket. The property was 100% leased at the time of sale to Knight-Swift, a publicly traded trucking company. Newmark’s  Vice Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe Taylor Hare, Chloie Mercer, and Caroline Wilson represented the sellers, Stillwater Capital and Grandview Partners, in the sale to EQT Exeter. Delivered in January 2023, the property features 40’ clear height, 161 total dock doors and 198 trailer stalls.

ODESSA, Texas – Partners Real Estate arranged a 3,904-SF industrial lease at 2035 W 2nd Street in Odessa. Partners’ Brian Heines represented the tenant.  The landlord was represented by Gary Sims with Sims & Guess Real Estate.

DENTON, Texas – Greystar is planning to build a 336-unit multi-family project in Denton in North Texas. With delivery expected in 2025, it will be phase 3 of its Birchway project, the Dallas Business Journal reported.

CORPUS CHRISTI, Texas – Partners Real Estate, arranged the sale of River Court Shopping Center, a 13,400-SF retail in Corpus Christi. Partners’ Gustavo Torres represented the seller, KCP River Court.

NATIONAL — RNR Real Estate Briefs from Realty News Report

NEW YORK, N.Y. — Global Holdings,  the international real estate development and investment firm led by Eyal Ofer, bought 51 Irving Place. The six-story mixed use apartment building contains 57 rental units with 8,000 SF of ground floor retail space at 17th Street and Irving Place, steps from both historic Gramercy Park and Union Square Park.

NEW YORK, N.Y. — The Necessity Retail REIT sold 44 of its properties leased to Bob Evans restaurants for $93 million. The properties sold are in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia and Maryland.

GRAYSON, La. – Limelight Investments, LP purchased a 9,026 SF Dollar General on US-165, in Grayson. The seller, 121 Support, was represented by Nicholas Kaye of Sapphire Capital. The buyer was represented by Jeffrey Doussan, and Philip Ewbank of KW Commercial and Cotton Munson of Davis Commercial.

ETC. — RNR Real Estate Briefs from Realty News Report

Skanska Leases Space in Empire State Building

NEW YORK, N.Y. — The Empire State Realty Trust  announced Skanska has leased 25,057 SF in the Empire State Building for its U.S. headquarters.

Skanska, a development and construction group, has been in the building since 2008. It will relocate within the structure from its current 24,391 SF space to a new 25,057 SF on a full floor.

“Since 2008, we have been proud to call the 32nd floor of the Empire State Building our headquarters for USA operations,” said Richard Kennedy, CEO of Skanska USA. “The space has enabled us to achieve the goals we established from the beginning – to offer our colleagues an office environment that is commuter-friendly, energy efficient and one that bolsters teamwork and innovation,”

“The new workplace will be a modern and technologically upgraded space, which will enhance our ability to connect and collaborate.”

Civic Heart Moves HQ

HOUSTON — Civic Heart Community Services relocated its headquarters to One Emancipation Center at 3131 Emancipation Ave. in Houston’s Third Ward in June 2023. The 34-year-old organization, the largest Black-founded non-profit organization in the Gulf Coast region, formerly known as Change Happens!, recently announced its name change to Civic Heart Community Services.

Civic Heart outgrew its previous location on Elgin Street, home to the organization for the past 18 years. The new 10-year lease for 13,028 SF allows Civic Heart to remain in the historic Third Ward, while adding much needed space to accommodate the growing number of programs and services.

Just since 2019, the organization increased its investment in the community by 240 percent and now offers 25 programs in 59 Texas counties through grants and partnerships with a wide range of partners, thanks to its team of 75 culturally diverse employees and more than 280 volunteers.

The organization helps prevent young people from becoming entangled in the youth justice system. It enables families to access health insurance, acts to end HIV and prevent substance misuse, helps those experiencing homelessness with housing and other essential support including connection to employment and mental health treatment and provides mentoring to refugee youth as they adapt to living in a new country, among other assistance.

Located across Emancipation Park in Houston, One Emancipation Center was developed by the Midtown Redevelopment Authority in partnership with the Center for Civic and Public Policy Improvement as Houston’s first central headquarters for affordable housing programs. Serving as a hub for affordable housing initiatives, office space and community gatherings, the building opened in 2021 and houses a mix of organizations engaged in affordable housing advocacy, administration and support services.

John Guess III  of The Guess Group  represented Civic Heart. Vergel Gay & Associates  provided project management services.

July  8,  2023 Realty News Report Copyright 2023

Downtown Houston Photo credit: Cynthia Lescalleet courtesy CALpix Copyright 2023

File: RNR Real Estate Briefs

RNR Real Estate Briefs are published by Realty News Report


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RNR Real Estate Briefs are published by Realty News Report

Additional news briefs

RNR Real Estate Briefs Reported June 23, 2023

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