The Deal Sheet
Braun Enterprises acquired 1000 West Gray, snagging its fourth Inner Loop retail project. This deal takes a prize for persistence: Braun has been trying to purchase the corner for seven years.
Prez Dan Braun (here speaking at a Bisnow State of the Market event) tells us the deal finally closed off-market. His firm will extensively rehab the 12k SF shopping center to enhance curb appeal, provide better visibility, and increase parking. Marcus & Millichaps Derek Hargrove and Justin Miller repped the seller. And keep your eyes peeled: Dan tells us he's closing on another Inner Loop hard corner retail center this week in the Heights.
EXECUTIVE MOVES
Fredricks Commercial merged with Moody Rambin, and Brent Fredricks joined the firm as SVP. He is a 27-year vet of shopping center and investment brokerage.
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Hines Andy Trowbridge was promoted to SVP of conceptual construction. He has been with the firm since 1992 and is currently involved in pre-construction management for the 2229 San Felipe office building locally as well as a 61-story tower in San Francisco, 72-story residential tower in NYC, and Concar office complex in San Mateo.
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Helen Rivero was named regional principal for Rosemont Realtys Texas and Oklahoma portfolio, which includes 34 properties totaling 6.1M SF. The firm has a special focus now on growing in Houston and Tulsa. Helen joined Rosemont in 2012 and was previously with Crescent Real Estate. Rosemont also hired Jason Kuester and Clay Young to be part of Helens team.
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Darren Gowell and William Padon joined CBREs office occupier service team as associates. Darren was previously with Axis Tenant Advisors.
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McCarthy Building Cos Bobby Campbell was promoted to director of preconstruction. He has been with the firm for three years and has 17 years of construction experience.
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The Bainbridge Cos expanded into Texas and hired Derrick Turnball as senior development director over Dallas, Austin, and Houston. He has over two decades of real estate experience including the development and construction of 8,700 multifamily units. He was previously with SNK Realty.
SALES
8345 North Freeway LLC purchased a 44k SF industrial building at 8355 North Freeway. TNRGs Pat Wolford and Siterra Properties Joel English repped the seller, Golden Aribah Investments.
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Massoud Real Estate Investments purchased a 408k SF facility on 20 acres at 8110 Kempwood. Euro-Mid will occupy the space.TNRGs Stephen Kuper and Steve Adkisson repped the buyer.
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Midtown Central Square LLC purchased Central Square Plaza, a 290k SF office building at 2100 Travis Downtown. Herbert Shapiro & Associates Herb Shapiro and Bob Heard repped both parties.
LEASES
Integrated Trade Systems leased 36k SF in Sam Houston Crossing Two, bringing Duke Realtys spec office facility to 91% pre-leased. The 159k SF property will deliver next month. Cushman & Wakefields Scott Wegmann and Kevin Saxe repped the tenant, and Dukes Cory Driskill repped the landlord in-house. 15k SF remains on the first floor.
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Apache Industrial Services leased 15k SF at the Vantage Parkway Centerbuilding (15413 Vantage Parkway). Moody Rambins Jim Autenreith repped the landlord.
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The Furniture Co renewed 26k SF at 6815 Theall. Betz Gloria Parrino repped the landlord (Arnold and Norma Rodriguez Family Limited Trust), and Palermo REIs Damon Palermo repped the tenant.
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Aldi Food Market opened a 22k SF store in Atascocita Plaza. Wulfe & Cos Wes Miller and Kristen Barker repped the landlord, and UCR moodyrambin Pages Lance Gilliam and Ed James repped the tenant.
DEVELOPMENT
Arch-Con Construction broke ground on DCT Beltway Tanner Business Park, a 133k SF facility developed by DCT Industrial and designed by Carlile Coatsworth. Its at 5980 W Sam Houston Pkwy and is scheduled for a Q3 completion.
FINANCING
HFFs Adam Herrin and Kevin Mackenzie arranged $38M in financing for a 15-property industrial portfolio totaling 1.2M SF in Texas and New Mexico. The team repped borrower Industry Capital Advisors to secure and modify 12 separate loans with ViewPoint Bank.
THIS AND THAT
The Houston region continues to lead national job growth.According to the Labor Bureaus latest data, Harris County is second in the US in absolute employment growth, and Fort Bend and Montgomery Counties are among the top 10. Were also first for GDP growth in the nation.
You don't have to be crazy to work here. We'll train you. Email news leads and deep thoughts to Catie Dixon, catie@bisnow.com.
