HOUSTON — Randy Williams has sold the former Tuscany at Garden Oaks, a 33,250-square-foot retail building located at 835 W. 34th St. in Houston to an undisclosed buyer. Bill Burge and Mark Lehman of Grubb & Ellis represented the seller in the transaction.Additionally, 7321 Harrisburg LLC has purchased a 24,251-square-foot Family Dollar building located at 7321 Harrisburg in Houston from 73rd Street @ Harrisburg LP. Gus Lagos of Grubb & Ellis represented the buyer in the transaction.
VICTORIA, TEXAS — Moody Rambin Interests has brokered the sale of a 27,665-square-foot NNN Incredible Pizza, located at 3706 Navarro St. in Victoria. Chris Dray and Derek Hargrove of Moody Rambin Investment Services represented the seller, Victoria Incredible Pizza Group. The buyer was Fuldner Enterprises.
THE WOODLANDS, TEXAS — Raymond Management Co. has acquired a land parcel located in the Woodlands for the construction of a new hotel. The parcel is situated on College Park Drive across from College Park Shopping Center. The developer plans to begin construction later this year for an approximately 135-room Spring Hill Suites by Marriott. The hotel will feature complimentary wireless Internet access, a lobby bar, a swimming pool, a fitness center and a convenience store. Raymond also plans to construct a freestanding restaurant on site. Barry Perkel provided in-house representation for Raymond Management Co. in the land transaction. Greg Jordan of The Woodlands Development Company provided in-house representation for the seller.
HOUSTON — Seven projects are currently under way at Interwood, Wolf Companies’ 440-acre master-planned business park located at the entry to Houston’s George Bush Intercontinental Airport, at the intersection of Beltway 8 and John F. Kennedy Boulevard. Three of the projects will be completed this summer. The first is Denver-based The Urban Group’s 62,000-square-foot, Class A office building, located at 15109 Heathrow Forest Pkwy. In addition, Austin-based Live Oak-Gottesman is wrapping up a 35,000-square-foot office building, located at the intersection of Interwood South and Heathrow Forest parkways, for the U.S. Customs & Border Control Protection Services. Finally, BRG Cornerstone Development will soon complete the first building for Weller Truck Parts. Construction of a second building for the company will begin this fall. Upon full completion, Weller will occupy approximately 42,000 square feet on its 4-acre site. The other four transactions have just started or will soon commence. First, Dallas-based Western International has broken ground for a 131-room Fairfield Inn & Suites hotel, which is scheduled for a fall completion. The company recently completed a 134-room TownePlace Suites hotel, also within Interwood. Boston-based Cabot Properties has purchased 23 acres of land, located at JFK Boulevard and Interwood South Parkway, for the …
HOUSTON — Houston-based Transwestern has brokered the sale of Steeplechase Shopping Center, a 194,000-square-foot community retail center located in Houston. Situated at the intersection of Jones Road and FM 1960 West in the city’s Northwest submarket, the shopping center is occupied by a tenant roster that includes Palais Royal, 99¢ Only, Anna’s Linens and Capital One Bank. The buyer, Schreer Partnership Interests, plans to redevelop the property and add several national tenants. Rudy Hubbard and Leah Gallagher of Transwestern represented the seller, Weingarten Realty Investors. Leasing of the center will be handled by WPW Management.
HOUSTON, SAN ANTONIO AND PARIS, TEXAS — National Health Investors, Inc. (NHI) has purchased four skilled nursing facilities for $55.5 million in a sale/leaseback transaction with affiliates of Legend Healthcare. The portfolio consists of 595 beds. Two of the properties are located in Houston, and the other properties are located in San Antonio and Paris. NHI purchased three of the four nursing facilities in June for $39.7 million, and will purchase the final one no later than August for $15.8 million. The four facilities are being leased to Legend for 15 years at an initial lease rate of 10 percent plus annual increases. Legend has the option after 7 years to re-purchase them.
HOUSTON AND HUMBLE, TEXAS — CB Richard Ellis (CBRE) has completed three leases in the Houston metro area. First, Houston-based Greenstar Recycling signed a lease for 18,900 square feet of warehouse space at 4789 Eastpark Dr., located in northeast Houston. Patrick Rollins of CBRE represented the tenant. The landlord, First Industrial Realty Trust, was represented by Blake Gibson of Colliers International. In addition, Stoneland Global Logistics signed a lease for 10,140 square feet of warehouse space within Kenswick Airfreight & Logistics Centre, located at 19051 Kenswick Dr. in the northern suburb of Humble. Rollins represented the landlord, LIT Industrial Texas LP. Tiffany Sebastian of ReMax NW represented the tenant. Finally, LandAmerica Charter Title Co. renewed its lease for 17,579 square feet of office space at the Whitney Bank Building, located at 4265 San Felipe St. in Houston’s Post Oak Park submarket. CBRE’s Kristen Rabel, Steve Rocher and Louann Orlando represented the landlord, BMS Management.
HUMBLE, TEXAS — Construction is complete for Stoneleigh on Kenswick Apartments, a 318-unit, Class A multifamily community located in Humble. Developed by a joint venture between Passco Companies Development LLC and Seneca Investments, the property is situated on 15 acres at 19800 Kenswick Dr. Amenities include a clubhouse with a media center, a cyber café with wireless Internet access, a resort-style swimming pool, a fitness center, and outdoor picnic and barbecue areas. Stoneleigh at Kenswick also is situated adjacent to a 275-acre nature preserve. The owners plan to stabilize the property over the next year and possibly sell it, depending on market conditions. The grand opening ceremony will be held at the end of the month.
HOUSTON — Dallas-based White Rock Commercial has disposed of West Pointe Center, a Class A office property the company recently constructed in Houston. The three-story, 170,823-square-foot building is located at 9420 W. Sam Houston Pkwy. Wade Bowlin and Doug Little of Houston-based PM Realty Group represented White Rock in the sale. The undisclosed buyer was represented by Bob Parsley and Bill Byrd of Colliers International. The sale price was not released.
KERRVILLE, TEXAS — Mumford Co. has brokered the sale of the Whitten Inn, located in Kerrville. The 98-room hotel is situates on Interstate 10 just outside of San Antonio. The buyer, Amer Host Inc., plans to extensively renovate the property and will seek franchise options following the summer travel season. The seller was Roarke-Whitten 3, Ltd. Acquisition financing was provided by a local bank.