This Week's Houston Deal Sheet
One of Midtown's first mixed-use projects changed hands this week, proving once again there is investor interest in stabilized retail assets in Houston's inner core. The Mix @ Midtown, a 73K SF, fully leased Class-A retail property, was purchased by Fifth Corner in a joint venture with Pointer Real Estate Partners.
The property, occupying a full city block, is fully leased to a roster of experiential retailers, including 24 Hour Fitness, Jinya Ramen Bar, Artisans Restaurant, Gen Korean BBQ, Piola, Kung Fu Tea and Cloud 10 Creamery.
The JLL Capital Markets team representing the seller was led by Rusty Tamlyn, John Indelli, Michael Johnson and Bryan Strode.
“Packed with high-rise apartments, big incomes, walkability, public transportation, daytime population and green space, all the ingredients are in place for Midtown, which has evolved into one of Houston’s top retail, office and living destinations,” Indelli said.
SALES
Colliers International’s Robert Hantgan, Jenny Seckinger and Ace Schlameus represented the seller, Iberiabank, in the disposition of a 32K SF building at 9950 Kleckley Drive in Houston. The buyer, Kingdom Living Christian Church, was represented by CB United's Jake Scarborough.
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Newman Kelly’s Logan Kelly represented a local private investor in the sale of a 110K SF industrial park in Northwest Houston. The seller, Houston Office Warehouse Corp., was represented by Ankur Patel.
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Zion Investments purchased 22309 Gosling from Texas Lone Star Cheer Co. The 22K SF building sits on 2 acres in Spring. JLL’s Kevin Erck and John Talhelm represented the seller, and the buyer was represented by Re/Max.
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Newman Kelly’s Logan Kelly represented the seller, Cypress Properties Inc. in the sale of a 61K SF industrial park in Northwest Houston. The buyer was a local private investor.
DEVELOPMENT
Construction has begun at Creekside Park Village Center in The Woodlands, a 360-unit luxury apartment at 8440 Creekside Green Drive.
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200 Park Place, a 15-story, 210K SF, Class-A office building at 4200 Westheimer Road within the River Oaks District, topped out.
LEASES
Lummus Technology renewed its lease of 31K SF at Bay Area Business Park, 9311 Bay Area Blvd. Stream Realty Partners’ Justin Robinson and Jeff Pate represented the landlord, Principal Financial Group. Paul Penland with CBRE represented the tenant.
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Bespoke barbershop The Argyle League will open its second location, a 1,300 SF space at Understory in Downtown Houston. Transwestern’s Nick Hernandez, Crystal Allen and Lacee Wilke represented landlord Skanska and The Argyle League.
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ASD Lighting completed a new lease for 29K SF at 9159 Wallisville Road. JLL’s David Holland and Geoff Perrott represented the tenant. Moody Rambin’s Jim Autenreith and Samuel Rayburn represented the landlord, Ivest.
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NAI Partners’ Jake Wilkinson represented Andrews Fabrication in a 21K SF industrial lease at 1524 Mooney Road in Houston.
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Hugh M. Cunningham Inc. renewed its lease of 18K SF at Long Point Business Center, 6600 Long Point Road. NKF’s Trace Elrod represented the tenant. Stream Realty Partners’ Boone Smith represented the landlord, Agellan REIT.
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Merih Cotton Corp. renewed and expanded a lease for 67K SF at Cedar Crossing Distribution Center, 3710 Cedar Blvd. JLL’s Richard Quarles and David Holland represented landlord Mountain West in the direct lease with the tenant.
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Praxair expanded by 14K SF at Sierra Pines I, 1585 Sawdust Road. CBRE’s Jon Lee and Kevin Saxe represented the tenant. Stream Realty Partners' Paul Coonrod and Brad Fricks represented the landlord, VEREIT.
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Tastee Kreme renewed and expanded its lease to 14K SF at Fairway Park Business Center, 2523 Fairway Park Drive. CBRE's Patrick Rollins represented the tenant. Stream Realty Partners’ Jeremy Lumbreras and Boone Smith represented the landlord, Brennan Investment Group.
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Servomex Co. renewed its lease of 25K SF at Sugar Land Southwest Business Center, 12300 Dairy Ashford Road. Colliers International's Rob Johnson represented the tenant. Jeremy Lumbreras and Jeff Pate with Stream Realty Partners represented the landlord, DRA Advisors.
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Crown Equipment Corp. leased 21K SF at Prologis IAH Logistics, 2928-B Greens Road. Colliers International’s John Lindenberger represented the tenant. Stream Realty Partners' Jeremy Lumbreras and Jeff Pate represented the landlord, Prologis.
EXECS
James Wise joined Powers Brown Architecture as design manager of Interiors.
