This Week's Houston Deal Sheet
As The Howard Hughes Corp. moves its corporate HQ to The Woodlands, which it owns, the company has been restructuring its executive leadership team. Jim Carman has been promoted to president of the Houston Region, which includes The Woodlands. Carman takes over the position formerly occupied by Paul Layne, who was promoted to CEO.
Heath Melton was also promoted to The Howard Hughes Corp.'s executive leadership team as executive vice president of Master Planned Communities Residential.
“Jim Carman and Heath Melton have demonstrated extremely valuable insight, professionalism and leadership across the portfolios of The Howard Hughes Corporation, and we are proud to recognize both with their advanced positions in the Company,” Layne said in a release. “Each possesses a breadth and depth of experience and expertise that has catapulted our endeavors to the next level. We appreciate their contributions.”
EXECS
Yewande Fapohunda has joined High Street Residential as senior vice president and will be responsible for leading the sourcing, shaping and executing of new multifamily development opportunities throughout the Houston market.
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Savills expanded its services platform with the addition of Mark Alvarez as a senior managing director specializing in surplus property services.
LEASES
Competentia leased 7K SF at West Memorial Place. JLL represented landlord Skanska. Stream Realty Partners’ Anthony Squillante and Collin Roach represented Competentia.
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Eggcellence Cafe has leased 2,300 SF in the Augusta Woods Village Shopping Center, 25750 Kuykendahl in Spring. The landlord was represented by Evergreen Commercial. The tenant was represented by Wulfe & Co.
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Adams Warehouse & Delivery Inc. renewed its 75.5K SF lease at McCarty Business Park, 295 McCarty St. Arledge & Co.'s Jim Arledge represented the tenant. Stream Realty Partners’ Jeremy Lumbreras and Boone Smith represented the landlord, ATCAP Partners.
SALES
JLL’s Bob Heard, Chip Nash and Greg Austin closed the sale of Champions Woods Apartments, a 186-unit, garden-style multifamily community in Northwest Houston. A team led by JLL’s James Brolan arranged acquisition financing.
DEVELOPMENT
Over 200 guests joined DC Partners at the official groundbreaking ceremony of the Residences at The Allen, the long awaited mixed-use project along Buffalo Bayou. The retail portion is expected to deliver in the fourth quarter of 2020, with the grand opening in the first quarter of 2021. The hotel/condo tower is slated to be completed in 2023.
