713CRE Closes Three Houston-area Deals

713CRE, a Houston-based boutique commercial real estate firm, recently completed three transactions in the Houston market. The deals included two new leases and one land sale. Mandel Scientific Co. Inc. has leased 4,975 square feet of office space in Legacy Park Business Center, 10920 W. Sam Houston Parkway, Houston, from Exeter Property Group. Ronnie L. Miranda of 713CRE represented the tenant. Exeter’s in-house broker, Graham Gardener, represented the landlord. LifeSpan Euro Med Spa has leased 3,960 square feet of medical office space in Jefferson Park, 4560 FM 1960, Houston, from Precision Medical Group USA. Miranda represented the landlord in the direct deal. Finally, Miranda represented Cane Island Ventures LLC in their purchase of a 1.5-acre tract at the intersection of Peek Road and Grand Parkway/TX 99 in Katy, Texas. Travis Overstreet of Prime SCD represented the seller, Clay Road Development.

TEXASOFFICE NAI Partners Arranges Office Lease for Aegis Chemical Solutions in Houston

NAI Partners recently arranged a 17,210-square-foot office/flex lease renewal for Aegis Chemical Solutions’ corporate office at 4560 Kendrick Plaza Drive in Houston. NAI Partners’ Jason Whittington represented the tenant in the transaction. Logan Greer of InSite Realty Partners represented the landlord, EastGroup Properties, L.P. Aegis Chemical Solutions is recognized as an industry leader in production treating chemicals, water treatment technologies, water transfer services and completions and drilling products. The commitment to research and development of the company’s product offerings that Aegis brings to the oilfield, the ability to interface seamlessly with customers‘ B2B procurement systems and Aegis’ HR systems development are further indications of the continuing growth and success of the company.

Bradford Arranges Sale of Sandy Lake Office Park

EBO Marketing Inc., developer of Sandy Lake Office Park, has sold the class A suburban project to a local accounting firm after walking back its original plan to part with just one of its two buildings. The multi-tenant office buildings, totaling 9,224 square feet, are situated on one acre at 1507 and 1529 E. Sandy Lake Road in Coppell, Texas. They were 75 percent leased at sale time. Richmond Collinsworth, first vice president of Bradford Commercial Real Estate Services, and Jared Laake, vice president, represented the seller, who developed the office park in 2010 and has used part of the space as its headquarters from the onset. Phillip Maxwell of Glacier Commercial Realty LP represented the buyer. “As the developer, EBO Marketing has an intrinsic attachment to Sandy Lake Office Park. After deep deliberations, the seller concluded it made sense to the keep the project together,” Laake said. Sandy Lake Office Park will continue as an owner-user project. The buyer of record, JV Empire LLC, is setting up shop in 1,500 square feet at 1507 E. Sandy Lake Road, which previously was occupied by the seller. In turn, EBO Marketing is moving into 2,250 square feet in the adjacent building through a short-term sale-leaseback. JV Empire had been searching the Coppell market for a site to lease. “Finding less than 2,500 square feet and building signage on a prominent road doesn’t exist in this area,” Collinsworth said. “This is an analytical buyer who recognized the merit of acquiring a building and accruing equity versus paying a landlord.” The Bradford team’s marketing attracted six solid offers because of Sandy Lake Office Park’s high visibility, freeway proximity and construction quality. The project is readily accessible to Interstate 35 E and President George Bush Turnpike and minutes from Dallas/Fort Worth International Airport.

Rezoning Approval Could Result in Water Park, Much More Rising Around Circuit of The Americas

Last week, the Austin City Council approved a massive rezoning for Circuit of the Americas (COTA), a 1,155-acre site in Southeast Austin. The request was years in the making for COTA, which has been planning a bigger tourist magnet near Austin-Bergstrom International Airport since at least 2018. The development pipeline already includes an 11-story hotel, a water park and a children’s amusement park, according to COTA chairman, Bobby Epstein. The larger vision is to create indoor and outdoor sports complexes, condos, retail space and a private motorsports club. “Step one is getting the zoning approved so that we can go back to the investors and say, ‘Come back to the table,’” Epstein said. Arm Epic Lodging Partners has signed on to the project as hotel and water park developer. Rocky Williams, an Arm Epic vice president, previously said construction on those elements of that plan could start as soon as next summer. Construction is expected to take 24 months, barring further delays. Initial design plans call for a 100,000-square-foot indoor water park, 350 rooms and 34,000 square feet of meeting and ballroom space. The zoning allows for future expansion of the hotel to up to 508 rooms.

Hartman Management Provides Support for Hurricane Laura to Lake Charles Pastor and Nearly 200 Families

Hartman Income REIT Management, Inc. Provides Support for Hurricane Laura to Lake Charles Pastor and Nearly 200 Families September 30, 2020 – (HOUSTON) Hartman Income REIT Management Inc. (Hartman) donated $15,000 to those affected by Hurricane Laura. Witnessing the destruction Hurricane Laura left in neighboring Louisiana, Hartman employees were reminded of the devastation that Hurricane Harvey left in Houston almost exactly 3 years ago. Nearly one month has passed since Hurricane Laura; however, residents in the city of Lake Charles and surrounding areas are still struggling to find the necessary supplies to survive, rebuild, and take care of their families. Hartman employees recounted how their neighbors in Louisiana answered their need when Hurricane Harvey hit and took it upon themselves to help. Hartman employees, led by Kimberly Strickland, Hartman’s COO, raised over $5,000 and an additional $10,000 was donated from Hartman’s benevolence fund. A fund established in 2016 as a way for employees to rally together and extend aid to others in need. “It warms my heart to answer the call from our neighbors the same way they cared for us after Hurricane Harvey. Our employees’ generosity and the outpouring of love and support they’ve shown is truly admirable. We love and pray for all of those impacted in Louisiana.” said Al Hartman, Hartman’s CEO. Using the employee donations, flashlights with batteries, cleaning supplies, dog food, Gatorade, trash bags, cat food, paper towels, toilet paper, sponges, vitamin water, diapers, and bleach tablets were all purchased. The other $10,000 was donated to the church to assist families in need, many of which were already struggling from the downturn in the economy due to Covid-19 prior to the Hurricane Laura’s arrival. Kimberly and her husband David were led to a small community, north of the Lake Charles area by the name of De Ridder, in Beauregard Parish. On September 5th, Kimberly Strickland and two other Hartman employees made a trip to Lake Charles and met a local pastor to deliver and distribute the supplies. Later, on Facebook, Pastor Michael Burkes shared, “Thank you to all that made this possible! We handed out over 125 food boxes. Plus, cleaning supplies, diapers, dog and cat food. Amazing what happens when God’s people come together!” In the following weeks, Hartman employees made a second supply delivery and continue to show love and support to those affected. If you would like to donate or buy supplies for De Ridder and surrounding communities in need, please contact Pastor Michael Burkes at unitybaptist@suddenlinkmail.com. About Hartman: Hartman is a premier property management company in the Houston, Dallas, and San Antonio markets. Hartman has owned and operated commercial office properties since 1983, offering premium office space at attractive rates. With over 37 years of commercial leasing expertise in Houston, San Antonio and Dallas, Hartman knows exactly what their customers require. For more information, visit www.hi-reit.com.

Spicy World Sells 32,554 SF Industrial and Relocates

Houston TX, TEXAS — Spicy World of USA, Inc is a family-owned wholesale ethnic foods distributor servicing the entire USA and Eastern Canada. Spicy World of USA Inc will be relocating into a newly developed 66,000 SF distribution building in Stafford TX. Sam Chang with Henry S. Miller – Houston office handled sales negotiations on behalf of Spicy World of USA Inc. Bryan Z. Tran with BHW Capital represented the Buyer.