RNR Real Estate Briefs – HOU, AUS, DAL & more

January 14, 2023January 14, 2023 Admin

RNR Real Estate Briefs from Realty News Report – HOUSTON — Partners Real Estate arranged the sale of Gemini Plaza, a 158,976 SF office property at 1150 Gemini St. in Houston, immediately adjacent to NASA’s Johnson Space Center. Partners’ Cary Latham, Wyatt Huff and Dan Boyles represented the seller, Universal Weather & Aviation, LLC, in the sale-leaseback transaction. Noah Kruger of Savills represented the purchaser, JMK5 Holdings.

HOUSTON — Triten Real Estate Partners, a Houston-based commercial developer focusing on industrial service facilities and industrial outdoor storage, acquired three industrial facilities in Houston. Two assets are in the North Houston submarket at 3004 Aldine Bender Road and 3434 Greens Road. The third is in the Northeast Houston submarket at 15005 Crosby Freeway.

HOUSTON — The Howard Hughes Corp. announced that the first homesites in Creekland Village—the fourth and final residential village within Bridgeland, a top-selling master planned community — are available for purchase. The lineup of homebuilders includes Beazer Homes, Century Communities, Chesmar Homes, Coventry Homes, Gehan Homes, Lennar, Perry Homes and Westin Homes. Prices in Creekland start in the $290,000s and model homes should be complete in late spring.

HOUSTON — Iglesia Filadelfia De Apostoles Y Profetas has acquired a 37,500 SF building on 7.34 acres at 6000 Heatherbrook Drive, Houston, from the Texas Annual Conference of the United Methodist Church, Inc. Jeff Lokey and Glenn Dickerson of NewQuest Properties represented the seller. Chris Bergmann of JLL represented the buyer.

CYPRESS, Texas – Biodec, LLC, has acquired the Market at Alder Trails, a 17,604 SF retail center on 3.65 acres at 11403 Barker Cypress Road, Cypress, from Happyone Investments, LLC. Dakota Workman and Kelley Workman of NewQuest Properties represented the seller. Abe MacNeil of St. Croix Capital represented the buyer.

THE WOODLANDS – SVN – J. Beard Real Estate – Greater Houston handled the sale of 22 acres in The Woodlands on Sawdust Road. Jeff Beard and Brittany Jameson represented the seller, Morris Monroe. JP Hayes with Urban Co. Real Estate represented the buyer, an affiliate of Marquette Properties. The property will be utilized for a high density residential development.

HOUSTON — Colliers announced the purchase of an 87,850 SF industrial property at 5630 Renwick Drive in Houston. The seller, SGTMI, was represented by Eric Hughes and Mark Lehman of Centermark Real Estate. Zack Taylor of Colliers represented the buyer, Sparx Logistics USA.

HOUSTON – Partners Real Estate arranged a 29,737-SF expansion and extension at 315 Capitol Street in Downtown Houston. The tenant, Symplr, signed an expansion for 12,370-SF and an early extension for 17,367-SF. Partners’ Michael Sieger represented the landlord, The Cordish Companies in the transaction. The tenant was represented by Wyatt McCulloch and Nick DiMartini with CBRE.

HOUSTON – Jetstream RV Resort announced the opening of its latest upscale RV
community near the heart of Houston’s renowned medical center. Jetstream RV Resort at the Med Center, developed by Houston-based CityStreet Residential, a leader in Class A multifamily and recreational vehicle resort developments, is now accepting long- and short-term rental reservations.

KATY, Texas — Memorial Hermann Health System has leased an 8,945 SF building on a 1.07-acre pad site in Shops at Katy Reserve at FM 1463 and Spring Green Boulevard, Katy, from NewQuest Properties. Kevin Sims and Lara Lee LaMendola of NewQuest Properties represented the landlord. Matt Parsons of JLL represented the tenant.

ROSENBERG, Texas — Shoe Palace has leased 6,900 SF of retail space in Brazos Town Center at Interstate 69/US Hwy. 59 and FM 762, Rosenberg, from NewQuest Properties. Austen Baldridge and Bob Conwell of NewQuest Properties represented the landlord. Matt Reed of Shop Cos. represented the tenant.

PASADENA, Texas — Marcus & Millichap arranged the sale of Greenkey Storage – Pasadena near the Gulf Freeway and the Sam Houston Tollway.

TEXAS — RNR Real Estate Briefs from Realty News Report

ARLINGTON, Texas – SkyWalker Property Partners has sold a trio of office properties in North Texas and Oklahoma on behalf of three managed funds. The crown jewel of the divestiture was Brookhollow Riverside, a 119,121 SF office building at 2505 N. TX 360 in Grand Prairie. The disposition also included Crescent Parc, a 61-unit medical and office condominium project at 1400 N. Coit Road in North Dallas and a 36,590 SF office project, home to Miller-Motte College, at 3801 S. Sheridan Road in Tulsa.

AUSTIN — Whisper Valley, a zero-energy-capable community in East Austin, announced that the Del Valle Independent School District Board of Trustees closed on 149.2 acres of land to build three schools. The new four million SF Tesla Gigafactory is located nearby. Acquired for $167,785 per acre, the first parcel will serve as the site of Del Valle’s second high school. Elementary and middle schools are also planned.

GRAND PRAIRIE, Texas – MCR, the country’s fourth largest hotel owner-operator, has acquired the Courtyard Dallas Grand Prairie, a four-story, select service hotel with 120 rooms in the city of Grand Prairie. The hotel was purchased with acquisition financing from American Momentum Bank. Opened in 2021, the hotel is located 20 minutes south of the Dallas/ Fort Worth International Airport.

WACO, Texas — Lovesac has leased 1,400 SF of retail space in Cottonwood Creek Market at Interstate 35 S and West Loop 340/TX 6, Waco, from NewQuest Properties. Austen Baldridge of NewQuest Properties represented the landlord. Paul Makens of Makens Consulting represented the tenant.

NATIONAL

SAVANNAH, Ga. – Hunter Hotel Advisors announced the sale of the Hilton Garden Inn and Hampton Inn & Suites Savannah Midtown. MIG Real Estate Group sold both properties to HOS Management as a portfolio for an undisclosed amount. Robert Taylor, Sophia Pittaluga and Trey Scott of Hunter arranged the sales on behalf of MIG.

MIAMI – Europe’s leading bank, BNP Paribas, is opening an office in the financial district of Miami at 801 Brickell Ave. In October 2021, BNP Paribas opened a new office in Philadelphia.

ATLANTA – JLL Capital Markets closed the $247.5 million sale of 1001, 2002 and 4004 Summit Blvd., three Class A office buildings within Perimeter Summit in Atlanta. JLL represented the confidential seller, and procured the buyer, Spear Street Capital. The JLL Capital Markets team: Richard Reid, Ed Coco, Ryan Clutter, Ralph Smalley and Huston Green.

ETC. — RNR Real Estate Briefs from Realty News Report

Howard Hughes Corp. Gets $193M Refi Through JLL

WASHINGTON, D.C., – On behalf of Houston-based Howard Hughes Corp. (developer of The Woodlands) JLL Capital Markets arranged two separate financings totaling $193 million for 6100 Merriweather, a Class A office building in Downtown Columbia, Maryland, and Juniper, the adjacent apartment community.

JLL worked on behalf of The Howard Hughes Corporation to secure the $76 million, three-year, fixed-rate loan for 6100 Merriweather and a $117 million, five-year, fixed-rate loan for Juniper. Both loans were used to take out existing construction financing. Completed in 2019, 6100 Merriweather Dr. offers 317,189 SF of Class A office space anchored by Tenable and CareFirst. Juniper, which was completed in 2020, has apartments and 55,693 SF of street-level retail. At full buildout Downtown Columbia Plan will add 4.3 million SF of new office, 6,244 multifamily units, 1.25 million SF of retail and 640 hotel rooms. JLL’s Capital Markets team: Jamie Leachman and Drake Greer.

Big Sky secures $190M acquisition financing for 10 healthcare properties in Texas, elsewhere

CHICAGO –– JLL Capital Markets has arranged about $190 million acquisition financing for 10 healthcare properties totaling 857,779 SF. JLL worked on behalf of the borrower, Big Sky Medical Real Estate, in securing the five-year, floating-rate loan from a bank syndication led by Capital One Healthcare.

The properties include outpatient medical office buildings, ambulatory surgery centers and diagnostic imaging centers, among others. The portfolio includes:

Pyramids North, 9201 North Central Expressway, Dallas.
Pyramids South, 9101 North Central Expressway, Dallas.
Providence Park, 2501 Earl Rudder Freeway, College Station, Texas.
Greenpark MOB, 7515 Main St., Houston.
Peninsula Orthopedic Associates, 1675 Woodbrooke Drive, Salisbury, Md.
Tidal Health Cardiology, 400 Eastern Shore Drive, Salisbury, Md.
Pelican Professional Center, 42388 Pelican Professional Park, Hammond, La.
Texas A&M Health Science Center, 8441 Highway 47 West, College Station.
Peak Surgical Center, 610 North Coit Road, Richardson, Texas.
Valley Ortho & River Surgical Institute, 609 East Orangeburg Ave., Modesto, Calif.