The Deal Sheet
Altitude Trampoline Park is in expansion mode, and it’s bouncing into the Houston metro with a new lease.
The Woodmont Co’s Joseph Williams repped Altitude for new locations in Spring and San Antonio, bringing it to five locations nationwide. Joseph says it aims to add 10 more next year; the company started in Fort Worth, so Texas factors big into its growth plan. (Austin, Waco, and Lubbock are also opening this year.) The Houston location is a 41k SF former Albertson’s in Spring Cypress Shopping Center and is slated to open in December. Altitude is now the anchor of the project, which also includes TxDOT and Jack in the Box.
EXECUTIVE MOVES
Tre Banks joined McCann Realty Partners as principal and managing director. He will oversee MRP’s investments in the major Texas markets, including acquisitions, dispositions, and development. He has 15 years of multifamily investment experience, most recently with HFF. Since 2005, he has been involved in 323 transactions topping $8.4B.
SALES
Long View Equity Partners purchased a newly constructed, tilt-wall industrial building in Interwood Business Park. The 28k SF facility is at 4553 Aldine Bender and was purchased from the director in shell condition. Long View will make significant improvements on behalf of a tenant, including adding multiple bridge cranes, acetylene hard piping, and a gas storage area. TNRG’s Mary-Elizabeth Moore and Mike Spears repped the buyer, and NAI Houston’s Travis Land repped the seller.
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An undisclosed buyer purchased West Pearland Plaza, a 22k SF retail property. Marcus & Millichap’s Alex Bouchard and Gus Lagos listed the asset at $2.6M.
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Claire Sinclair Properties’ Wade Sinclair closed two transactions.
• Moosa Properties purchased 7.8 acres on N Main in Baytown (just south of the recently-opened Blue Heron Parkway) from ESV Properties. Wade repped the seller.
• E&A Management Group purchased a tract on N 16th in La Porte for commercial development. The seller was Roy H. Gonzales and Debora A. Gonzales; Wade repped the buyer.
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GRBR Properties purchased 20 acres on Genoa Red Bluff from Ellington Land Limited Partnership. Boyd Commercial’s Andrew Sowell and Mike Boyd repped the buyer, and Cushman & Wakefield’s Tim Thomas repped the seller.
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A fund sponsored by CBRE Global Investors acquired The Plantation at The Woodlands, a 432-unit Class-A garden-style apartment. It’s at 3720 College Park Dr and is 94% occupied. The new owner will upgrade the operations and property.
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An undisclosed buyer purchased a 20k SF office/warehouse on 10460 S Sam Houston Pkwy W. ICO Commercial’s Payton Indermuehle repped seller Shah Holdings, and Strategic Realty Consultants repped the buyer.
LEASES
Atmos Energy Holdings leased 19k SF in 2929 W. Sam Houston Pkwy. The 59k SF building delivered this year and has only two spaces remaining to lease. JLL’s Don Foster repped the tenant and PMRG’s Michael Sieger repped landlord Wallis State Bank. Wallis plans to build a six-story, 120k SF Class-A building on adjacent land.
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Composite Advanced Technologies CNG leased the 81k SF manufacturing building at 7441 E Orem Dr in Hobby Business Center. Moody Rambin’s Jim Vann repped the tenant and JLL’s Ryan Fuselier and Travis Secor repped landlord RBC Bearings.
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ERA Industries leased a 44k SF office/warehouse at 6028 Navigation Blvd. NAI Houston’s Clay Pritchett repped landlord East End Holdings, and Realm Professionals repped the tenant.
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Hoist Mfg leased a 20k SF office/warehouse at 2410 Broad St. First Houston Properties’ Aron Grenader repped landlord Broad Stillwell Warehouses, and Southwest Realty Advisors’ Patrick McKiernan, Emilee Shepherd, and Jonathan McDaniel repped the tenant.
CONSTRUCTION & DEVELOPMENT
Trammell Crow and Clarion Partners broke ground on a facility for DB Schenker in Kenswick AirFreight & LogisticsCentre. The firm is taking down the entire 150k SF office/warehouse and three acres of lay down yard. The building can be expanded by 25k SF for future growth. Pictured: Trammell Crow’s Jim Casey, CBRE’s Glynn Mireles, Rosenberger’s Matt Quinn, Munson Kennedy’s Rick Munson, Rosenberger’s Steve Salverino, DB Schenker’s Ed Fish and Heiner Murmann, and Trammell Crow’s Jeremy Garner, Dan Muniza, and JW Fields. Glynn and CB’s David Albert repped the tenant in the lease.
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Greystar Development announced a master-planned development at the NEC of Highway 249 and Holderrieth Road in Tomball. The plans call for retail, restaurant, and multifamily projects. The property is pending approval from Tomball City Council.
FINANCING
HFF’s Travis Anderson, Matt Kafka, and Cory Fowler arranged financing for the development of Market Square Tower, a 40-story, mixed-use project including 463 luxury residential units and 21k SF of retail. Working on behalf of Woodbranch Investments, it secured a long-term construction/permanent loan through Pacific Life Insurance. The project is designed by Jackson & Ryan and is scheduled for completion in fall 2017.
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BMC Capital’s Brian Gramlich arranged a $2.6M acquisition loan for a multifamily property in Houston. It featured a five-year fixed rate at 3.82% and 30-year amo.
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Q10 Kinghorn, Driver, Hough & Co’s Larry Peters and Matt Franke closed on a $11M spec construction loan for Reed’s Landing Business Park near Beltway 8 and Aldine Westfield. Phase I is a 147k SF manufacturing/distribution building and is slated for deliver in early 2015. With future phases, the park will include four buildings totaling 517k SF. The partnership has owned this site for several generations.
THIS & THAT
LandPark Commercial was named exclusive leasing agent for Galleria Oak Towers at 5821 and 5851 Southwest Fwy. The two six-story buildings aggregate 165k SF. Availabilities range from small single offices to an entire 83k SF building with top signage opportunity. The property recently traded hands and was renovated. Bill McGrath is handling leasing.
