RNR Real Estate Briefs – Texas & more

April 29, 2023May 5, 2023 Admin

RNR Real Estate Briefs from Realty News Report – HOUSTON – Partners Real Estate arranged a sublease of 52,622 SF of office space at 10713 W. Sam Houston Parkway North. Partners’ Dan Boyles represented the tenant, Patterson-UTI Energy. Jon Williams and Kevin Saxe of CBRE represented the sublessor, Acclara Solutions.

HOUSTON – On behalf of TriGate Capital, a Dallas-based real estate investment manager, Houston-based Midway announced that a local small business, B. Elevated Candle Bar, is opening a flagship store at CITYCENTRE, a mixed-use property in West Houston. Lacee Jacobs of Retail by Midway represented the landlord, a TriGate Capital Company, and Tia Manteca of Bayou City Consultants, represented the tenant.

THE WOODLANDS – Partners Real Estate arranged an 8,200-SF sublease with M&K CPAs located at 24955 Interstate 45 N in The Woodlands. Partners’ John Zivley represented the subtenant in the transaction. Caleb Lawson with Flatrock Companies represented the sublandlord.

HOUSTON – Ion District announced that 10 new tenants are arriving, and construction is scheduled, on a new lab at the Ion, Houston’s innovation hub. The 266,000 SF building is now 86 percent leased.

The companies joining the Ion include:

Carbon Clean, a leading carbon capture company that opened its new Houston headquarters.
Cognite, a Norwegian software company for asset-heavy industries that turns industrial data into customer value.
OpenStax, a nonprofit tech company improving educational access and learning through publishing openly licensed college textbooks that are free online and low cost in print.
Synopic, a startup building the next generation of depth-enabled cameras to improve visualization and decision making during medical procedures.
Motif Neurotech, a medical equipment manufacturing startup working to develop minimally invasive electronic solutions for mental health.
RedSwan CRE, a crowdfunding-style investment platform and marketplace of tokenized commercial real estate.
Nauticus Robotics, which has created a highly sophisticated, ultra sustainable fleet of marine robotics — along with the intelligent software to power it.
Rice University’s Office of Innovation, designed to commercialize more Rice-developed research and technology, in addition to Rice’s Nexus Lab, which is under construction and designed for prototyping and scaling-up technologies.

HOUSTON – Citiscape announced the relocation of the sales gallery for Mimosa Terrace, a boutique mid-rise development in River Oaks, in anticipation of breaking ground. The sales gallery, previously located at 2240 Mimosa Drive, has opened its doors at its new location, 2237 Welch St., right behind where Mimosa Terrace will rise.

HUMBLE, Texas. — Pure Supplements Direct renewed its retail lease at 8790 FM 1960 Road W. Jason Gibbons and Andrew Bischoff with Finial Group represented the landlord.

PASADENA – Partners Real Estate, arranged the sale of a 60,680-SF multi-tenant industrial property on 10.6 acres on Westside Drive in Pasadena. Partners’ Clay Pritchett and Zane Carman represented the buyer, Grace Heritage Properties, LLC. The seller was represented by General Property Services 1, Ltd.

HOUSTON – Sharetea leased reail space at Willowbrook Plaza on Tomball Parkway. Partners Real Estate’s Taki Dallis, Andrew Leibman and Michael Moulton represented the landlord, Mishorim 225, LLC and Mishorim Gold Houston, LLC in the transaction.

TEXAS — RNR Real Estate Briefs from Realty News Report

AUBREY, Texas — Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of Mezzo, a 378-unit, Class A multifamily property in Aubrey, near Dallas. Built in 2022, Mezzo consists of 12 three-story buildings and a clubhouse. Newmark facilitated the transaction, with Henry Stimler, Bill Weber and Matt Mense arranging the debt and Brian Murphy and Brian Oboyle brokering the sale.

IRVING, Texas – Cushman & Wakefield has secured a 12,647 SF lease with KAI Enterprises, a national design, build engineering and 360 CS firm, at Riverside Commons Building 4 in Irving. Johnny Johnson and Rodney Helm of Cushman & Wakefield represented the landlord. Ryan Buchanan and Josh White of CBRE represented KAI Enterprises.

LONGVIEW, Texas – SkyWalker Property Partners has sold a fully leased shopping center in Longview and a vacant office flex project in Tulsa for its managed fund, Cash Flow Fever, LLC, after reaching its investment goals within a four-year hold.

SAN ANTONIO – Partners Real Estate arranged the sale of a 6,866 SF office building at 825 Jackson Keller Road in San Antonio. Partners’ Joe Bright represented the seller, River City Federal Credit Union.

FORT WORTH — San Francisco-based real estate investment firm Hamilton Zanze announced the sale of 4000 Hulen Apartments in Fort Worth. The firm purchased the property in 2017 and the sale closed on April 18, 2023. The sale of 4000 Hulen Apartments represents the firm’s fourth disposition of 2023. 4000 Hulen Apartments was built in 2015. The mid-rise property comprises 240 units which average 886 SF.

NATIONAL — RNR Real Estate Briefs from Realty News Report

MIAMI – SmartCity Miami, LLC, an investment group led by Miami-based Terra and its CEO, David Martin, has finalized terms for the acquisition of a 15.5-acre development site on Biscayne Bay in Downtown Miami. The group will purchase the site from its current owner, Genting Group, for $1.225 billion.

PHOENIX – Stillwater Capital Investments, in partnership with Rosewood Property Company, announced the groundbreaking for its 352-unit multifamily development project in Gilbert, Ariz. It is the first multifamily development within Rivulon, a mixed-use project by Nationwide Realty Investors.

ETC. — RNR Real Estate Briefs from Realty News Report

Opportunity Fund V Launched

HOUSTON – Partners Capital, the investment platform of Partners Real Estate has launched Partners Opportunity Fund V, the entity’s fifth commercial real estate investment vehicle. The Partners Capital team is looking to raise at least $150 million in equity to build on its success in identifying and acquiring high-quality industrial, retail and office assets in the major markets across Texas and the southeastern United States.

“We are excited to launch Partners Capital’s Opportunity Fund V, which represents the next chapter in our commitment to delivering exceptional risk-adjusted returns to our investors through carefully curated, value-add real estate investments,” said Andrew Pappas, president of Partners Capital.

In other activity, Partners Capital, which recently sold Blanco Crossing, a 22,606-SF retail center in San Antonio, and acquired Mitchelldale Business Park, a 12-building, 377,752 SF industrial flex portfolio—their largest acquisition to date. Partners Capital tapped Jess Dickie as vice president of acquisitions to source new acquisitions in North Texas and also hired Adam Lair to spearhead its new hospitality fund investment strategy.

Trademark’s Corporate Sustainability Report

FORT WORTH – Trademark Property Company released its first Corporate Sustainability Report, which shares results to date and formalizes commitments to future-proof its national commercial real estate portfolio with climate-conscious operations, design and building practices.

Notably, Trademark’s multifamily projects will be built at minimum to the National Green Building Standard (NGBS) bronze rating, a rigorous green certification framework.

“We want to change the perception that it’s too expensive to build green, when really it’s less than 1 percent of the cost for most commercial projects,” said Terry Montesi, founder and CEO of Trademark. “Climate change is happening, and formalizing Trademark’s corporate sustainability commitment is the right thing to do for our environment, our investors and our communities.”

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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

Additional news briefs

RNR Real Estate Briefs Reported March 31, 2023