Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/817755
A U S T I N & C E N T R A L T E X A S 14 • May 2017 • Texas Real Estate Business www.REBusinessOnline.com H O U S T O N L E V C O R .C O M MORE THAN BRICKS, WE BUILD CORNERSTONES. Levcor, Inc. 1001 W. Loop South #600, Houston, Texas 77027 713.952.0366 Houston Pharr McAllen Del Rio Eagle Pass El Paso Laredo Sherman Texas City Waco Burlington Winston-Salem SERVING TEXAS AND NORTH CAROLINA northeastern suburb of Houston. Lo- cated at 10750 Barker Cypress Road near State Highway 290, the center is currently leased to tenants such as Subway and Shipley Do-nuts. COLLIERS ARRANGES SALE OF RETAIL STRIP CENTER HOUSTON — Colliers International Inc. has arranged the sale of a retail center located at 9335 Gulf Freeway in south Houston. Built in 2004, the strip center features 7,500 square feet of gross leasable space. Jason Tangen of Colliers represented the seller, a Hawaii-based private investor, in the transaction. At the time of sale, the property was 85 percent leased with a T-Mobile location on the end-cap. JLL ARRANGES 43,000 SF INDUSTRIAL SUBLEASE HOUSTON — JLL has negotiated a 43,000-square-foot industrial sub- lease at Beltway Crossing Park in Houston on behalf of the property's subtenant, American Door Prod- ucts Inc. Located at 7505 Bluff Point Drive, Beltway Crossing Park is an 86,823-square-foot industrial proper- ty in northwest Houston that features dock-high and grade-level load- ing doors and 24-foot clear heights. David Buescher of JLL represented American Door Products Inc. in the lease transaction. Walker Barnett and Patrick Sentner of Colliers repre- sented the sublandlord, The Newdell Co., a Houston-based valve manu- facturer, in the transaction. ALLIED ORION BEGINS LEASING 242-UNIT MIDRISE HOUSTON — Allied Orion Group has begun leasing Eighteen25, a 242- unit midrise apartment community located at 1825 San Jacinto St. near Interstate 45 in downtown Houston. The property, which is slated for Au- gust move-ins, consists of studio, one- and two-bedroom apartments. Amenities include a rooftop pool, fit- ness center, business center, parking garage and 24-hour dry cleaning ser- vice. PPA GROUP ACQUIRES 236-UNIT MULTIFAMILY PROPERTY HOUSTON — Austin-based invest- ment firm The PPA Group, in a part- nership with a private Israeli invest- ment company, has acquired Citation North Apartment Homes, a 236-unit multifamily property in north Hous- ton. Situated on eight acres at 411 Highland Cross Drive, the Class C property will be rebranded as High- land Cross Apartments. Grandbridge Real Estate Capital brokered the trans- action. BAKER KATZ ARRANGES 4,243 SF LEASE FOR NEWK'S EATERY SUGAR LAND, TEXAS — Baker Katz has arranged a 4,243-square-foot lease on behalf of Newk's Eatery, a Mississippi-based fast casual res- taurant chain. The new location is located in Sugar Land, a southwest- ern suburb of Houston. The new res- taurant, which is scheduled to open in early May, will be situated within Market at Town Center, a retail center located at the intersection of Lexing- ton Boulevard and State Highway 6. Ben Brown of Baker Katz and Jennifer Watson of Newmark Grubb Knight Frank represented Newk's Eatery in the lease transaction. WOODLANDS DEVELOPMENT CO. OPENS 784-UNIT SELF-STORAGE FACILITY THE WOODLANDS, TEXAS — The Woodlands Development Co., a divi- sion of The Howard Hughes Corp., has opened its second self-storage fa- cility at 32010 FM 2978 in The Wood- lands Village of Sterling Ridge, a mixed-use development on the north- ern outskirts of Houston. CubeSmart, a Pennsylvania-based self-storage REIT, will manage the 784-unit facil- ity, which features gated entry, video surveillance and free moving truck services.