Pon Holdings B.V. of The Netherlands has sold a vacant property, which formerly housed Porsche North Houston, to Sonic Automotive Group.

David Luther, executive vice president of NewQuest Properties' investment sales group, and Morgan Hansen, senior associate, represented the seller of record, indiGO Auto Group, which is wholly owned by Pon Holdings.

"Porsche North Houston has been the fastest-growing Porsche dealership in the United States over the last 10 years and subsequently outgrew its original location," Luther says. The 2.27-acre property, which contains a 14,868-sf structure, is located at 18111 North Freeway, Houston.

The NewQuest team's marketing campaign drew three offers, including a bid from the adjacent dealership, Charlotte, N.C.-based Sonic Automotive Group, a Fortune 500 company and one of the largest vehicle retailers in the U.S.

"They were always the best buyer," Luther says. "Taking it to market provided the opportunity we needed to achieve the seller's expectations."

Sonic Automotive Group operates more than 100 dealerships in 13 states and 25 major metropolitan markets. The buyer was self-represented at the closing.

Porsche North Houston is now located on a state-of-the-art campus, which also features Rolls-Royce, Lamborghini and McLaren. The relocation to 13911 North Freeway has placed indiGO Auto Group at the epicenter of automotive luxury in Houston.

IndiGO Auto Group, headquartered in Houston, represents 18 franchises in three states. It also has operations in St. Louis and Palm Springs, Rancho Mirage, Riverside, Mill Valley and San Rafael, Calif. The company was founded by current CEO Todd Blue.

SOUTH TEXAS SALES

Poonuru LLC has purchased 212.2 acres along CR 622, Dayton Lakes, from Liberty Grand Partners LP. Brad Elmore of NewQuest Properties represented the seller.Independent broker Carell T. Freemanrepresented the buyer.

Sonic Automotive Group has purchased a 14,868-sf building on 2.27 acres (former site of Porsche North Houston) at 18111 North Freeway, Houston, from indiGO Auto Group. David Luther and Morgan Hansen of NewQuest Properties represented the seller in the direct deal.

Fernandez Holdings LP has purchased 1.54 acres near Gulf Freeway along FM 1764, La Marque, from Yode Investments LLC. Brad LyBrand and Rebecca Le of NewQuest Properties represented the seller. Greg Slusky of Sluco Realty Services represented the buyer.

SOUTH TEXAS LEASE

Smoothie King has leased 1,650 sf of retail space in Friendswood Crossing, located at the intersection of FM 528 and 518, Friendswood, from NewQuest Properties. David K. Meyers of NewQuest Properties represented the landlord. Greg Slusky of Sluco Realty Services represented the tenant.

NORTH TEXAS LEASES

Valvoline Instant Oil Change has ground-leased a 1.31-acre pad site to develop a 2,087-sf retail building in North Tarrant Marketplace, located at the intersection of North Tarrant Parkway and Precinct Line Road, North Richland Hills, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Michelle Caplan and Matthew Rosenfeld of Weitzman represented the tenant.

Frank Seoul has leased 1,475 sf of retail space in Frisco Ranch, located at the intersection of Preston Road and Warren Parkway, Frisco, from NewQuest Properties. Heather Nguyen and John Nguyen of NewQuest Properties represented the landlord. II Kyu Hwang of Top Realty LLC represented the tenant.

NewQuest Properties, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 60 retail and mixed-use projects valued at $2.2 billion and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana and throughout the U.S.