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Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently leased the 1,512-square-foot retail space located in Richmond, Texas.
Advance Therapy offers a variety of treatments for different kinds of pain and injuries. They specialize in multiple neurological and musculoskeletal conditions.
Friedman’s Larson Riff advised the tenant in the transaction.
Cushman & Wakefield announced the firm represented an undisclosed buyer in the purchase of a freestanding retail and office property located at 3275 West Alabama St. in Houston. The property totals 7,225 square feet and 17,472 square feet of land.
Located in Houston’s River Oaks neighborhood, the property sits east of the intersection of Alabama St. and Buffalo Speedway. The property features easy access to Highway 59 and Loop 610.
The building was owned and was sold by a physician who is retiring. Cushman & Wakefield’s Eric H. Lestin and Michael Burgower represented the buyer.
AUSTIN, TEXAS – Oct. 4, 2022 – The $22 million renovation of a neighboring luxury hotel has rejuvenated a 16-story office tower in the epicenter of Downtown Austin.
Austin Centre at 701 Brazos St. shares its lobby, conference center, restaurants, and other high-end amenities with the adjoining Omni Austin Hotel Downtown. The property recently completed an extensive reimagination that now provides an environment where tenants can collaborate, socialize, and be productive while at the office. The building, owned by Sidra Austin, LLC, features 326,000 square feet of four-star office space. Stream Realty Partners Managing Director and Partner Brad Philp, Senior Vice President Travis Rogers, and Senior Associate Coleman Jackson serve as leasing brokers. Stream, a national real estate services, development, and investment firm with a growing Austin office, also offers property management services–under the direction of Senior Property Manager Amy Smith–at the building.
In addition to sweeping views of downtown and the Texas State Capitol through floor-to-ceiling windows, office tenants at Austin Centre will now appreciate:
· Direct access to 20,000 square feet of revitalized meeting space across 19 venues, including a 3,400-square-foot Bridge Ballroom.
· Capital A, a restaurant and lobby bar where communal tables and a private dining room are easily accessible for breakfast, lunch, and dinner.
· President’s House Coffee, a shop where coffee, tea, pastries, and light bites are available for dining in or quick take out.
· A 24-hour fully equipped fitness center with Cybex weight machines, ellipticals, stationary bikes, and free weights. Showers and locker rooms also are available.
· Food service from the hotel’s eateries delivered directly to their office suite.
· A redesigned lobby where employees and visitors can enjoy casual lounging areas.
· Access to the hotel’s heated rooftop pool with a bar, open seasonally.
“Austin Centre is truly a place that brings together a multitude of amenities,” said David Barry, President of Sidra Real Estate. “Our tenant mix utilizes these one-of-a-kind amenities in addition to enjoying the walkability Austin’s Central Business District offers.” Austin Centre offers easy access to Interstate 35, just three minutes away, with major thoroughfares Cesar Chavez Street, San Jacinto Boulevard, and Congress Avenue close by. Private bike storage and plenty of parking can be utilized in the underground garage. “The city’s Central Business District continues to see a healthy level of leasing activity, with companies seeking quality spaces that embrace hospitality and elevate their employees’ experience so they are encouraged to return to the office,” Rogers said. “Sidra and Stream are reacting rapidly to this trend. Austin Centre is a top opportunity for office users to find high-end, move-in ready space with flexible deal terms.”
Full-floor office spaces, as well as multiple turnkey speculative suites, are currently available for immediate occupancy at Austin Centre. For information, contact Stream Austin at 512.481.3000.
About Stream Realty Partners
Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,200 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.
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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033
Operates from Newly Established BLP Regional Headquarters in Dallas
DALLAS, TX – October 3, 2022 – Thanks to its boots-on-the ground approach and strong local relationships stemming from its newly established regional headquarters in Dallas, Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”), has acquired 804 W. Shady Grove Road located in Grand Prairie, Texas.
The 203,430 SF Class A building is a recently delivered, highly functional asset located in DFW’s infill Great Southwest (GSW) submarket. Situated on 12 acres, the building offers modern specs including a 32’ clear height, 180’ truck court, 42 dock high doors, two ramps, 49 trailer storage spaces and a 0.45 parking ratio. With a front load configuration, the building is divisible into two suites.
“We are thrilled to add this brand new, Class A asset to our growing portfolio of infill logistics properties in global gateway markets. This acquisition is a testament to our team’s deep local relationships and focus on acquiring functional logistics assets in supply-constrained markets,” said Connor Tamlyn, Managing Director in BLP’s Dallas, Texas office.
The seller was represented by Kurt Griffin and Nathan Orbin of Cushman & Wakefield.
BLP considers Dallas Fort-Worth to be a key global gateway logistics market in the U.S., and has established one of its four regional headquarters in the city. Beyond Dallas, BLP has a geographic presence via three other offices – Los Angeles, New Jersey and Atlanta. The company was established in June 2021 when Jay Cornforth, Chief Executive Officer, and Brian Gagne, Chief Investment Officer, left Brookfield to start the logistics division of Bridge Investment Group. The BLP team is fast-growing and consists of 33 dedicated investment and business professionals across several disciplines.
The team successfully works to combine its operational and development DNA with deep customer, owner and broker relationships, which all played a key role in the successful acquisition of 804 W. Shady Grove Road and other key properties where demographic growth and shifts in consumer behaviors are dramatically increasing the demand for infill assets.
Since the formation of BLP, Connor Tamlyn and the Central team have already acquired three properties and four development sites totaling 1,338,871 square feet, and are managing a growing pipeline of assets currently under agreement.
About BLP
Bridge Logistics Properties (“BLP”) is a vertically integrated logistics real estate investment manager led by tenured, multi-disciplinary real estate veterans with experience navigating several economic environments over the past three decades. Its founding members and leadership team employ a disciplined investment strategy that is both cycle-tested and innovative. BLP is a value-focused investment manager that is highly collaborative with its institutional capital partners. Leveraging its deep local relationships and global vision, BLP uncovers and executes value transactions in targeted coastal and gateway markets in the U.S. and abroad. Across its four offices – in the Northeast, West, Southeast and Central United States – BLP has proven regional experience in acquisitions, opportunistic repositioning and development of global logistics assets. Its steadfast focus on innovation and sustainable development promotes solutions that are both profitable and socially responsible. For more information, visit Bridge Logistics Properties.
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $38.8 billion of assets under management as of March 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.
The property, 2900 Oak Springs is planned to have 250 units with 125 units being affordable or below market value. This complex will be minutes from Springdale Green (an 875,000 square foot office space set to deliver in 2024), East 6th Street, Downtown Austin, Mueller Business District, Austin-Bergstrom Airport, The University of Texas, and Tesla’s Gigafactory. The complex will also provide stellar views of downtown Austin.
2900 Oak Springs is well positioned to benefit from recent exponential growth throughout East Austin, including residential and commercial developments along East Sixth, East 12th, and MLK Jr Blvd. Young professionals are flocking to East Austin, and commercial developers have responded in kind. Continuing this virtuous cycle, there is significant market demand for additional residential density in the area as companies continue to move in.
HOUSTON (September 29, 2022) – Civitas Capital Group, through its residential development subsidiary The Shelter Companies, is developing a 238-unit, 381-bed residential multifamily project on approximately 1.09 acres in Houston’s thriving Montrose district. The development, UNITi Montrose, will provide attainable rental housing in one of the most expensive and desirable submarkets of Houston through a unique blend of co-living, shared common areas, and micro-units.
General contractor Arch-Con® Corporation is constructing the six-story, 199,320-square-foot multifamily building stacked on a three-story, 109,000-square-foot cast-in-place concrete parking garage. Designed by Meeks Partners, the development includes 14,122 square feet of amenities, balconies, a fourth-floor pool and courtyard, and 4,000 square feet of retail space on the ground floor.
Shelter is a disrupter in the traditional multifamily market, anticipating historic shifts in the Sun Belt region of the United States to accommodate residents. UNITi Montrose is an example of the firm’s investment strategy to deliver solutions for cost-burdened renters.
“UNITi Montrose will provide fully furnished units, flexible lease terms, Class A amenities, and all-inclusive rent payments that provide a frictionless experience to an evolving demographic of renters,” Shelter’s Principal Mark Drumm said. “We are seeing that renters are willing to share certain amenities in exchange for convenience, flexibility, and high-quality living, and this project provides just that.”
The project, located in the Montrose neighborhood, is less than 10 minutes from Houston’s central business district, including Midtown, the medical center, The Ion, and major universities. It is expected to generate more rent per square foot than traditional multifamily dwellings, while providing attainable rental rates for middle-income earners.
Arch-Con began working with Shelter and Meeks Partners in the spring 2021 on pricing and design. “Multifamily projects of this type require measured preconstruction efforts to ensure they are economical and timed just right,” Arch-Con’s Vice President of Multifamily Bryan Tufts said. “Making sure this project was cost-effective for Shelter and its future residents was equally important as we thrive on finding the best solutions for our clients.”
About Civitas Capital Group
Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn.
About The Shelter Companies
The Shelter Companies, a subsidiary of Civitas Capital Group, is a private real estate company focused on developing and repositioning attainable multifamily housing, including co-living and micro-units for more than one third of the U.S. population. Shelter is a disrupter of the traditional housing market and stands at the forefront of historic shifts in technology, lifestyle, and job markets. Shelter’s strategy allows for opportunistic returns while providing a high-quality experience to renters at a fair market price. For more information, visit The Shelter Companies at https://www.sheltercompaniesllc.com.
About Arch-Con® Corporation
Arch-Con® Corporation is a national commercial general contractor founded in 2000 with offices in Houston, Dallas, Austin, and Denver. Arch-Con’s award-winning team simplifies the construction process using the latest cost efficient technologies to stay on the cutting edge of the industry. With experts in the construction of office, industrial, cold storage, retail, hospitality, corporate interiors, healthcare, multifamily and community developments, we make construction easy. Learn more: www.arch-con.com.