RNR Actual Property Briefs – HOU, AUS, DAL & extra

Posted On February 26, 2023

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RNR Real Estate Briefs from Realty News Report – HOUSTON — Vista Grand Reserve, Ltd., a real estate partnership sponsored by The Vista Companies, has sold Vista Grand Reserve, a 12,000 SF medical office building on Kingsland Drive in the Katy area submarket to Santos Family Enterprises, Ltd. The seller was represented by James Bell of Marcus and Millichap, and the buyer was represented by Coldwell Banker Commercial/Lewis Realty Group. The closing was handled by Lesley Mann of Charter Title Company.

HOUSTON – Partners Real Estate arranged a 25,000-SF lease with Unconventional Gas Solutions at 8448 N. Sam Houston Parkway West. Partners’ Dan Boyles, Michael Keegan and Andrew Laycock represented the tenant. Sam Sammons, Blake Warren and Andrew Armour with Winthrop Realty Group represented the landlord, Long View Equity, LLC.

HOUSTON – Griffin Partners selected CBRE to market for lease 2900 Weslayan, a 136,698 SF boutique office building near Greenway Plaza and the River Oaks neighborhood. Warren Savery, Nina Seyyedin and Joel Douthit with CBRE are the exclusive leasing agents for the building, which recently underwent renovations to the lobby, common area corridors, elevator cabs and restrooms, creating move-in ready spec suites.

HOUSTON – Partners Real Estate arranged a 16,302 SF sublease for Reimer McGuinness Hess PC at 750 Town and Country Blvd. Partners’ Jon Silberman, John Zivley and Pierce Beyer represented the tenant. The sublandlord, Altus Group U.S., Inc. was represented by Collin Roach of Avison Young.

HOUSTON – The Plazas at Barker Cypress at Barker Cypress and Longenbaugh in northwest Houston has leased 7,350 SF to Action Behavior Centers, LLC. The landlord was represented by Christina Kurt with Vista Management Company, and the tenant was represented by Elena Bakina of Colliers.

HOUSTON – Berg Hospitality Group is opening the 3,100 SF Buttermilk Baby in the M-K-T Heights development, owned by Triten Real Estate Partners and Radom Capital. Buttermilk Baby reimagines the all-American soda fountain.

SUGAR LAND, Texas – Vista Sugar Land III, Ltd., has also sold a 1.7-acre tract at the northeast corner of US 59 and University Drive to Barish/Sugar Land, LLC. The seller was represented by Geoff Bracken and Brad Ryan of Capital Retail Properties and the buyer was represented by Katherine Wildman of Wulfe & Co. The closing was handled by Lesley Mann of Charter Title Company.

HOUSTON – Pagewood, a vertically integrated real estate investment and operations company, acquired another Houston asset. It’s located at 10205 Market Street Road near the Port of Houston. With 97,997 SF of industrial space, the multi-tenant business park will cater to small and large users in a high-quality infill location.

HOUSTON – Newmark has been awarded the leasing assignment for Park 10 Commons, a mixed-use, multi-tenant medical office building and retail project in Houston, totaling over 260,000 SF. Newmark’s Richard Barbles and Noelle Hsieh-Schinas are exclusively representing the landlord and owner, 4M Investments, LLC, in the project leasing.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUSTIN – Greystar Real Estate Partners has broken ground on a 396-unit apartment development near Tesla’s Gigafactory and global headquarters on the east side of Austin.

DALLAS — San Antonio-based Kairoi Residential is planning a new 250-unit project along U.S. Highway 75, north of Knox Street, the Dallas Morning News reported. Jake Milner of Davidson & Bogel Real Estate worked on site acquisition.

VICTORIA, Texas – Partners Real Estate arranged the sale of a 37,221 SF building on eight acres of land along US Highway 59N. Partners’ Chris Caudill represented the Woolson buyer, Waste Management of Texas Inc. Nancy Garner with Woolson Real Estate Inc. represented the seller, Stallion Oilfield Services.

AUSTIN – Newmark announced the sale of Alexan Springdale, a 251-unit multifamily asset in an urban infill location in East Austin. Newmark’s Patton Jones and Andrew Dickson represented the seller, Trammell Crow Residential. The buyer was Sterling Equities. In 2019, prior to the construction of Alexan Springdale, Newmark’s Andrew Childers handled the sale of the six-acre site.

NORTH RICHLAND HILLS, Texas — The Dallas and Austin-based multifamily private equity firm, SPI Advisory, LLC and its 1031 partners announced the sale of The Wood Meadow Apartments, a 222-unit, Class B apartment complex in the Fort Worth suburb of North Richland Hills. Constructed in 1984 and renovated in 2018, the property was initially acquired by SPI and its partners in 2017.

AUSTIN – Dalfen Industrial recently completed Tuscany Logistics Center in Austin. Kroger opened a delivery service center, leasing a 70,000 SF building for six years. Tuscany Logistics Center was developed by Dalfen Industrial and includes three new, Class A distribution centers totaling 373,648 SF. Target and Diligent Delivery have leased the other two buildings.

AUSTIN – CBRE brokered the sale of a 1,041-unit self-storage facility at 5656 North Interstate 35. . CBRE’s Self Storage Advisory Group represented the seller, global investment company KKR, in the transaction. The buyer is Dallas-based Baranof Holdings, both a developer and long-term investor in self-storage.The property, managed by CubeSmart Self Storage, has 100,417 SF.

DALLAS – OliveMill Holdings is kicking off a multimillion-dollar renovation at 2801 North Central Expressway, one of Dallas’ most recognizable buildings located on US Highway 75 and the former home of The Richards Group. Renovation of the 240,000-SF, 18-story building includes rebranding as One West Village. Partners on the building acquisition and repositioning include Angelo Gordon and Hunt Realty Investments. Gensler is leading the design.

AUSTIN – CBRE arranged the sale of a 550-unit self-storage facility at 2401 E. Ben White Blvd. CBRE’s Self Storage Advisory Group represented the seller in the transaction, global investment company KKR. The buyer, Extra Space Storage of Salt Lake City, is a real estate investment trust. “This asset will be a great addition to Extra Space’s portfolio,” said CBRE Vice Chairman, Nick Walker.

NATIONAL — RNR Real Estate Briefs from Realty News Report

MENIFEE, Calif. — Patrinely Group of Houston, in partnership with affiliates of Dune Real Estate Partners, is building a 544,115 SF speculative industrial project consisting of three Class A buildings located near I-215 and Scott Road in Menifee, Calif.

CAPE CORAL, Fla. – Haven Capital Ventures will launch Haven Fund II LLC, targeting mobile home community management and investment. The Haven Fund II said it will capitalize on what is regarded as “the lowest-risk and most recession-resistant niche” in real estate.

ETC. — RNR Real Estate Briefs from Realty News Report

HOUSTON — Concept Neighborhood – the Houston-based real estate investment, development and management company behind the walkable neighborhood, The Plant/Second Ward – announced that Aurora Picture Show has signed a 2,500 SF lease at 201 Roberts St. for the arts organization’s headquarters. The new space will not only house its offices, but it will serve as a venue for its screenings, film festivals, installations, live performances, artist talks and member events. The 25-year-old nonprofit media arts center will relocate its operations to the historic Second Ward neighborhood in Houston’s East End Cultural District in late 2023.

“The Second Ward has a rich, robust creative and maker community, and Aurora Picture Show’s decision to relocate its headquarters here further validates the vibrancy of this unique pocket of Houston,” said Jeff Kaplan, managing principal of Concept Neighborhood. “Much of The Plant/Second Ward will focus on creative maker space, given the East End’s designation as a cultural district and its proximity to Buffalo Bayou, and we believe that their move into the neighborhood will further attract artists and arts organization to the corridor.”

Late last year, Concept Neighborhood unveiled plans for The Plant/Second Ward, billed as Houston’s first walkable urban corridor. Stretching from Harrisburg Boulevard to Buffalo Bayou East, The Plant/Second Ward will integrate the local community by connecting the right density of creatives, shops, restaurants, gathering places and public amenities. The company’s vision includes 250,000 SF of authentic retail and creative office/urban maker space along with more than 1,000 multifamily units designed for a mix of market-rate, workforce housing.

Aurora Picture Show’s new headquarters will be located within one of 13 historic industrial buildings that once served as the headquarters of oil field manufacturer W-K-M. Plans for the 145,000 SF assemblage include the creation of Roberts Row, a collection of hyperlocal shops and businesses with new public greenspaces, sidewalks and trails that will take root along Roberts Street between Garrow and Commerce streets.

Concept Neighborhood was self-represented by Kaplan and managing principal Jeremy Roberts. Aurora Picture Show was represented by Sarah Stauder on behalf of the Board of Directors of Aurora Picture Show.

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RNR Real Estate Briefs are published by Realty News Report

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RNR Real Estate Briefs are published by Realty News Report

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