Jan 02

RNR Real Estate Briefs – Texas & more

HOUSTON — Partners Real Estate arranged a 16,764 SF lease with Tecmag on Westchase Drive. Partners’ Jon Silberman and Pierce Beyer represented the tenant. The landlord, Link Logistics, was represented by Boone Smith with Stream Realty Partners.

MISSOURI CITY, Texas — EōS Fitness has leased 40,000 SF of retail space in Fort Bend Town Center Phase II at TX 6 and Fort Bend Tollway from NewQuest Properties. Bob Conwell and Andrew Alvis of NewQuest represented the landlord. Jason Baker of Baker Katz represented the tenant.

CONROE, Texas — Encore on the Rise, LLC, purchased the Encore Rise multifamily community in Conroe for $47.1 million. Encore Rise is located at 800 N Fm 3083 Road W. Joe Hooker is acquisitions manager for Encore on the Rise, LLC.

HOUSTON — Radix Engineering leased 5,818 SF of office space at 580 Westlake Park Blvd. Ryan Hand, Charlie Neuhaus and Harry Holmes of Partners Real Estate represented Radix. Matt Asvestas with Stream Realty represented the landlord, Younan Properties.

BAYTOWN, Texas — Eastern Union, a commercial real estate mortgage brokerage firm, delivered a $17,492,188 loan toward the acquisition of The Lakes at Madera apartments, a 392-unit multifamily complex at 305 West Baker Road in Baytown. The financing, provided through Arb Realty Trust, was a loan assumption with a $30.6-million acquisition of the complex, which is 92 percent occupied. The transaction carried a three-year term, with a 4.26 percent interest rate. The mortgage was secured by Eastern Union’s SCP Yoel Goldberg, Michael Muller, loan consultant Alex Jaffa and Mikael Rechdiener, VP for structured financing.

KATY, Texas — Sunterra Nails Spa has leased 2,450 SF of retail space in Katy Pointe of Clay Road from Katy Point Investments, LLC. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord.

CYPRESS, Texas — Partners Real Estate arranged a 7,500 SF retail lease for the lates location of Goldfish Swim School at Highway 290 and Barker Cypress Road. Partners’ Cole Popper represented the tenant. Williamsburg Enterprises is the owner of the project and had in-house representation.

HOUSTON — ECI Group has sold its The Columns at Westchase apartments at 3354 Rogerdale Road to Mosaic Residential. The 318-unit community, built in 1999 as acquired by ECI in 2018. David Mitchell at Newmark represented ECI, which is based in Atlanta. Scott Levitt, Chief Acquisitions Officer at ECI said: “We look forward to making future investments in Houston and major markets in Texas.”

MISSOURI CITY, Texas — CoCO Bella Beaty Supply has leased 12,530 SF of retail space in Fort Bend Town Center Phase I at TX 6 and Fort Bend Tollway from NewQuest Properties. Bob Conwell and Andrew Alvis of NewQuest represented the landlord. Joanna Temple Johnston of Temple Commercial Realty represented the tenant.

BAYTOWN, Texas — Swig leased 1,847 SF of retail space in Baytown Plaza on Garth Road from AREP Baytown I Partners LP. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Travis Waltmon of Palo Duro Commercial Partners represented the tenant.

HOUSTON — Daiso, the established global retail chain, scheduled its grand opening at Copperwood Village in Houston on Dec. 2. The new Daiso store measures 8,482 SF.

HOUSTON — Philadelphia-based Arden Logistics Parks awarded Stream Realty Partners a leasing assignment for a 34-building business park, the recently rebranded North Park 34, an 864,000-SF park at the corner of Beltway 8 and Hardy Toll Road. Stream’s Boone Smith, Abraham Richardson, and Meg Zschappel will serve as leasing agents with analyst Jax Rawlinson’s support.

ROSENBERG, Texas — Prompt Urgent Care has leased retail space in Brazos Town Center near Highway 59 through NewQuest Properties. Nina Irwin of NewQuest represented the landlord.

HOUSTON — Howard Hughes Holdings announced that Bridgeland, one of the top-selling master planned communities in the nation, will be adding two new businesses at Lakeland Village Center. Space City Orthodontics will soft open its 2,550-SF practice in December while Foxfire Candle Works open a 1,200-SF boutique. Both are located on Fry Road. Marissa Moreau is senior manager of leasing for Howard Hughes.

HOUSTON — Allow Personal Training has leased 1,575 SF of retail space in Shoppes at San Felipe near South Voss Roads from SF/Voss LTD. Nian Irwin of NewQuest Properties represented the landlord. Jim Haviland of the Windsor Group represented the tenant.


FORT WORTH — Newmark announced that DrinkPAK, a canned beverage manufacturer headquartered in California, closed on two industrial leases totaling 2.9 million SF in its expansion to Fort Worth. The city has approved a 10-year tax abatement valued at $21 million for DrinkPAK’s expansion. Newmark’s Patrick DuRoss, John DeGrinis, Jeff Abraham, Javier Galvan, Adam Faulk, James Cooksey, Garrison Efird and Adam Faulk Jr. represented the tenant in the transaction.

SOUTHLAKE, Texas — Constellation Real Estate Partners in partnership with Northwestern Mutual acquired 33.7 acres in the Dallas/Fort Worth Airport submarket on Mustang Court in Southlake. The company will demolish an existing fuel terminal to develop Constellation Mustang Crossing, a 546,330 SF industrial project designed by Meinhardt & Associates. Joey Tyner and Tom Dosch of Dosh Marshall Real Estate represented Constellation Real Estate Partners in the land acquisition. Kurt Griffin, Nathan Orbin, Dalton Knipe and Weston King of JLL will assist with the leasing.

FORT WORTH — Trademark Property Company announced that First Watch, the award-winning Daytime Dining restaurant brand, will be the newest addition to Waterside, a 63-acre misxed-use community along Fort Worth’s Trinity River Trail.

SAN ANTONIO — Worth & Associates, a San Antonio commercial real estate developer, announced that Bridgehead IT leased 15,280 SF in Brookhollow Business Center Building at 1355 Central Parkway South, near Bitters Road and U.S. Highway 281. Bridgehead IT was represented by JLL’s Brian Kates and Rob Gish represented Worth & Associates.

DALLAS — Partners Real Estate arranges a 13,410 SF industrial lease with The Blueprint University on Irving Boulevard in Dallas. Partners’ Hanes Chatham Jr. represented the landlord, 2050 Irving Blvd. De Anna Green with Nydan Group represented the tenant.

GRAND PRARIE, Texas — Pharmacy Corporation of America renewed its 18,193 SF lease of flex space in One Paddock Place. Michael W. Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord, Paddock Partnership. Brian Jones and Brian Gilchrist of CBRE represented the tenant.

RICHARDSON, Texas — Partners Real Estate arranged a 1,500 SF retail lease with State Farm at Arapaho Village. Partners’ zderek Anthony represented the landlord, WASA Properties Arapaho Village, LLC. The tenant was represented by Krista Tipton of Hexagon Group.


PHOENIX, Ariz. — Cushman & Wakefield has arranged a joint venture equity partnership between the Phoenix-based Creation development firm and Clarion Partners for Park Algodon, a proposed $250 million spec industrial project on 87 acres in West Phoenix. The two-phase industrial park with 1.3-million SF will be built near Loop 101 and Indian School Road. Cushman & Wakefield’s Will Strong, Kirk Kuller, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West represented the Creation and Clarion JV.

SANTA ANA, Calif. — SVA Architects has moved its Northern California operations to 7901 Stoneridge Drive in Pleasanton, Calif. At its new Pleasanton location, SVA will be centrally located to serve clients throughout the San Francisco area’s South Bay, East Bay and Peninsula regions. SVA Architects has established itself throughout Northern California as a leader for transit-oriented developments, community projects and educational facilities.

TAMPA, Fla. — JLL Capital Markets arranged $45 million in financing for Midtown West, a newly built office property totaling 152,000 SF in Midtown Tampa. JLL worked on behalf of the borrower, a joint venture between Highwoods Properties and The Bromley Companies, to secure the five-year loan from New York Life Insurance Company. Completed in 2021, Midtown West is an eight-story office building, fully leased to tenants including Prudential, Primo and Clarion JV.

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