HOUSTON — NAI Partners has negotiated a 13,817-square-foot office lease renewal and expansion for Advance Energy Partners LLC at Westchase Park Plaza in Houston. The 10-story office building is located at 11490 Westheimer Road in Houston’s Westchase submarket. Dan Boyles of NAI Partners represented the tenant in the lease negotiations. Kurt Kistler of Moody Rambin represented the landlord, California-based Hertz Investment Group.
CYPRESS, TEXAS — Locally based developer Read King Commercial Real Estate has sold Miramesa Town Center, a 13,070-square-foot retail strip center in metro Houston. The property is situated on 1.9 acres in Cypress and was fully leased at the time of sale to tenants such as AT&T, Supercuts and Dogtopia. Ryan West, John Indelli and Ethan Goldberg of JLL represented Read King in the transaction. Michael Johnson and Tolu Akindele of JLL placed a five-year, fixed-rate acquisition loan on behalf of the buyer, an undisclosed private investor.
HOUSTON, TULSA AND OKLAHOMA CITY— The RADCO Companies, a value-add multifamily investment firm based in Atlanta, has sold a portfolio of 10 apartment properties totaling 2,769 units in Texas and Oklahoma. The communities were built in the 1970s and 1980s and are located in Houston, Tulsa and Oklahoma City. Shea Campbell, Colleen Hendrix and Ashish Cholia of CBRE’s Southeast Multifamily team worked with CBRE’s Clint Duncan and Matt Phillips in Texas and Brian Donahue in Oklahoma to arrange the sale. The buyer was Wisconsin-based MLG Capital.
HOUSTON — Fidelis Realty Partners is underway on construction of Brookhollow Marketplace, a 200,000-square-foot retail power center that will be located at the site of the former Exxon campus in Houston. Fidelis acquired the site in 2016 and has now completed demolitions. Located at the corner of Highway 290 and Dacoma Street, Brookhollow Marketplace will house retailers such as Burlington, Michaels, Ross Dress for Less, T.J. Maxx, Ulta, Old Navy, Rack Room Shoes and Five Below. Store openings are slated for this fall. An 80,000-square-foot Floor & Décor is also scheduled to open to the east of the center.
SAN MARCOS, TEXAS — Chicago-based investment firm Harrison Street has acquired The Lyndon at Springtown, a 515-bed student housing community located near Texas State University in San Marcos. The 233-unit property features one-, two- and four-bedroom units and amenities such as an indoor and outdoor fitness center, pet park, pool and a recreation room. Kevin Larimer, Greg Gonzalez, Kelly Witherspoon, Justin Cole and Michael Gonzalez of Berkadia represented the seller, Austin-based Endeavor Real Estate Group, in the transaction.
SPRING, TEXAS — Tampa-based SkyView Advisors has brokered the sale of Regal Self Storage, a 278-unit facility located in the northern Houston suburb of Spring. The property is situated on 1.8 acres and features 43,025 net rentable square feet. Zack Urow and Ryan Clark of SkyView Advisors represented the seller in the transaction. The buyer and other terms of sale were not disclosed.
HURST, TEXAS — Marcus & Millichap has negotiated the sale of a 36,008-square-foot industrial building leased to Delta Rigging & Tools in Hurst, a northeastern suburb of Fort Worth. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
HOUSTON — Newport Real Estate Partners, a newly formed investment firm focused on value-add multifamily properties, has acquired The Fountains at the Bayou, a 460-unit community in Houston. Houston-based investment firm Nitya Capital sold the property in an off-market transaction. Built on eight acres in 1969, the property spans 31 buildings and features amenities such as a pool, clubhouse and playground areas. Newport’s two-year value-add program will center on renovating amenity spaces, upgrading landscaping and signage and rebranding the community as Valencia Grove Apartments.
HOUSTON — Nuveen Real Estate has sold Beltway North Commerce Center, a 352,680-square-foot industrial facility in Houston. Built on 23.4 acres in 2015, the property is fully leased to cargo handling firm Air General and logistics firm DB Schenker and offers convenient access to Hardy Toll Road and Beltway 8. Building features include 32-foot clear heights, 110 dock-high doors and 68 trailer parking spaces. Trent Agnew, Rusty Tamlyn, Charlie Strauss and Katherine Miller of JLL represented Nuveen in the transaction. High Street Logistics Properties purchased the asset for an undisclosed price.
ROUND ROCK, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of Wyoming Springs, a 100-unit assisted living and memory care community in Round Rock, a suburb of Austin. One Liberty Properties Inc., a publicly traded REIT based in New York, sold the property for an undisclosed price. The buyer was a New York-based private equity fund looking to expand its seniors housing presence. Joshua Salzman and Ben Firestone of Blueprint handled the transaction.