Buchanan Street Buys 2100 West Loop South; The Deal Sheet

Buchanan Street Partners acquired 2100 West Loop South in an off-market transaction, its third purchase in Houston. The price was undisclosed, but prez Tim Ballard says it was 55% of replacement cost. (Get out your calculators, kids... it's a pop quiz.)

The 16-story, 165k SF office building is in the Galleria between San Felipe and Westheimer. It was built in 74 and was 82% leased at below-market rents at TOS. Buchanan Street will invest substantial new capital to upgrade the property. Tim says it has great upside potential thanks to the strong fundamentals in the Galleria area. (Occupancy in the submarket has jumped from 86% to 90% in the last 18 months.) His firm was drawn to the size of the buildings floor plate, which caters to smaller tenants.

PEOPLE

Milestone Property Management named several promotions: Caryn Ogier was named director of commercial and corporate services, Merrill Stanley was appointed director of healthcare services, and Eric Serna will lead project management efforts in the Med Center.

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Ed Benton and Heather Riggs joined Cresa Houston as senior advisor and senior administrative assistant, respectively. Ed focuses on office tenant rep and has seven years of experience.

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Trammell Crows Brian Attaway was promoted to senior development manager. He will manage all aspects of design/construction of new spec and BTS projects. He's been with TCC six years.

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Tony Talamas joined BMC Capital as VP. He has 10 years of CRE lending experience and previously launched Washington Mutuals small balance lending group and originated multifamily loans for Wells Fargo FNMA group. Most recently, he led Fountainhead Intermediary.

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Brian Hancock joined TechKnowledge Consulting as director of A/V practice.

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Stream Realtys Jon Farris was named NAIOP industrial broker of the year. He has 26 years of experience and has been with Stream since 09.

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Mark Lane joined Arch-Con Construction as senior project manager to enhance its retail division. He has 30 years of experience and has built over 1M SF of retail buildings and over 250 Starbucks.

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Liberty Real Estate Advisors Bryan Upton was promoted to CEO.

SALES

Methodist Retirement Community purchased 19 acres at Highways 518 and 270. Read King repped seller Regency Realty Group.

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Discount Rags purchased a 107k SF office/warehouse on 6.2 acres at 8300 Telephone Rd. CBREs Bill Rudolf and Gray Gilbert repped the seller, and Brian Yates Interests Budd Tibbs repped the buyer.

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A Californian buyer purchased Northern Pines Apartments, a 57-unit apartment complex in Dickinson. Southern Realty Advisors Julia McManus facilitated. The property was built in 72 and was 30% occupied at time of sale. The below-market rents and occupancy made it an attractive investment with substantive upside potential.

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LL Real Estate Holdings purchased a 14k SF Class-A office facility at 11000 Brittmoore Park Dr in Brittmoore Tanner Business Park. Southwest Realty Advisors Marc Drumwright and Patrick McKiernan repped the buyer and seller Missouri City Shopping Center.

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Bear RE Properties purchased a 3.5-acre unimproved land tract at the corner of Jackrabbit and Wag Way roads in Westland Business Park. Southwest Realty Advisors Steven OConnor and Marc Drumwright repped the buyer and Tina Waggoner repped seller Waggoner Family Properties.

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Marion, Montgomery Inc is rebranding as MMI Agency and purchased a 19k SF office at 1712 Pease St. The move doubles its SF.

LEASES

Occidental Oil and Gas Corp extended its lease in 3 and 5 Greenway Plaza. It has been in Greenway Plaza since 1987 and is the largest customer in the Crescent portfolio. Bob Boykin, Warren Savery, and Bubba Harkins repped the owner in-house and CBREs Charles Gordon and Brandon Clarke repped the tenant.

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Abby renewed its 20k SF lease at 363 N Sam Houston Pkwy. Moody Rambins Griff Jaggard and Terri Torregrossa repped the owner and NAI Houstons Randy Wilhelm repped the tenant.

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Belfor USA Group leased 15k SF at Clay Hempstead Business Park. Moody Rambins Jeff Barbles repped the landlord, IVEST LP, and colleague Jim Autenreith repped the tenant.

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Goodwill Industries of Houston leased 24k SF at West Oaks Shopping Center. Radius Realty AdvisorsBrian Kaplan repped landlord BET Investments and Wedemeyer Realtys Barkley Wedemeyer repped the tenant.

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CBREs Steve Rocher and Cody Armbrister completed two leases totaling 13k SF at Centre at Cypress Creek, which pushes occupancy to 93%. The three-building office campus is at 20455 SH 249. The landlord is PCA Cypress Creek. Recent leases include 8,915 SF to Spirit Environmental (repped by Barr McCarthys Kevin Barr) and a 3,941 SF expansion to Westpark Communications (repped by Colliers Charles Fertitta).

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The Easter Seals of Greater Houston renewed and expanded to 16k SF in 4500 Bissonnet. CBREs John Pruitt and Jessica Ochoa repped the landlord, Neighborhood Centers. The brokers alsoclosed two office leases totaling 28k SF at American General Center, a multi-building campus on Allen Parkway. The deals include a 22k SF renewal and expansion for Huron Consulting Services at America Tower and a 5,991 SF lease to Combs Gas at 2727 Allen Pkwy. JLLs Don Foster repped Huron and CBREs Connor Tamlyn repped Combs.

THIS AND THAT

Alanza Brook was selected as the winner of Greystars 2012 Growth Award. The multifamily property is owned by Passco Cos and achieved the highest NOI, income growth, and net effective rent growth from the 102 properties nominated.

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Hines and Transwestern were recognized by the EPA with the 2013 Energy Star Sustained Excellence Award. This is the ninth time Hines was recognized by the EPA and sixth time it earned the Sustained Excellence Award. Its portfolio of Energy Star buildings includes 167 facilities and over 65M SF. Transwestern has been an Energy Star partner since 02 and is the first third-party CRE services provider to achieve both partner of the year and the Sustained Excellence Award.

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NAI Houstons Sam Hansen was selected to lease 2450 and 2500 Fondren, which will soon be branded Piney Point Offices. The buildings total 153k SF of office space and have a large vacancy pending. The owner is completing design for major capital improvements.

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CBRE was the highest-ranked CRE services and investment company in Fortunes annual Most Admired Companies list for the third consecutive year and the number one CRE brand in Lipsey Cos annual brand survey for the 12thconsecutive year.

What CRE guru would you like to see us profile? Email Catie Dixon, catie@bisnow.com.