This Week’s Houston Deal Sheet
215 Westheimer LLC has broken ground on a new 13.2K SF, two-story development on lower Westheimer Road, at the intersection of the Montrose and Midtown neighborhoods.
The building was designed by Identity Architects, and the first floor will cater to retail and restaurant tenants while the second floor will have a combination of medical and office opportunities. 215 Westheimer is just across from the new Whole Foods at Pearl Marketplace.
Construction is underway and is projected to be completed by the end of 2020.
PEOPLE
WSP USA promoted Lori Fox to Texas/Mountain regional manager for planning and environmental planning. She will lead development of the firm’s growing planning and environmental planning practice in the region. She previously served as environmental planning practice leader for the firm, managing a group of nationwide professionals to assist federal, state, local and private clients.
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James Dean joined Archer Western as project executive in the company’s national Aviation Center of Excellence. Dean will be based in Houston and will be responsible for providing leadership, oversight and technical input on aviation and related projects across Texas markets, as well as supporting operations and strategic growth initiatives. Dean most recently served as project executive for the United Airlines New Terminal C North and Terminal E Expansion concession programs at George Bush Intercontinental Airport for OTG.
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Patrinely Group promoted Lauren Kelch to senior vice president of property management. Based in Houston, Kelch supervises all property management operations for the company. She joined Patrinely Group in 2019 as vice president.
SALES
Bci Iv Port 146 Dc Lp, an affiliate of investment firm Black Creek Group, purchased a 140.4K SF industrial property in La Porte. The buyer represented itself, while CBRE’s Jason Dillee and Andrew Jewett represented the seller, Clay Partners-Port 146 #1 GP LLC.
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Tank Customs purchased 12.3K SF of industrial space on half an acre at 408 Jensen Drive. Belvoir Real Estate Group’s Kyle Fischer represented the seller, All Floors.
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The Harris County Flood Control District purchased 37.23 acres near Beltway 8 in South Houston for the purpose of digging a water detention basin to prevent flooding. Land Advisors Organization’s Kirk Laguarta and Duane Heckmann represented the undisclosed seller.
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Upside Avenue REIT purchased a 737-unit multifamily community in Houston. The community is west of Uptown and just south of the Energy Corridor.
LEASES
DHL Express (USA) Inc. leased 27.9K SF at 16855 Northchase Drive. The tenant was represented by CBRE’s Rich Pancioli, while Lincoln’s Kevin Wyatt represented the landlord, Greenspoint Place Owner LLC.
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Best Block LLC leased 30.2K SF of industrial space at 4101 Airline Drive. NAI Partners’ Shaffer Braun and Michael Keegan represented the tenant, while NAI Partners’ Travis Land and A.J. Williams represented the landlord, 4101 Airline LLC.
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Venture Global LNG extended and expanded its lease by 29.3K SF at 5 Houston Center in Downtown Houston. The transaction brings the total lease to 58.5K SF across two full floors of the Class-A office building. JLL’s Beau Bellow and Jay Farmer represented the tenant, while Transwestern provided office leasing services on behalf of the landlord, Spear Street Capital.
CONSTRUCTION AND DEVELOPMENT
Fein purchased 20.19 acres to develop Pavilion at The Groves Apartment Homes, a Class-A, 318-unit garden-style multifamily property in Humble. The development is within The Groves, a 1,000-acre master-planned community 1.5 miles north of Beltway 8.
The community will have one-, two- and three-bedroom apartment homes and three-bedroom townhomes. Units will range from 556 SF to 1,734 SF. The community is expected to break ground in May with an estimated completion date in the first quarter of 2022.
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National Property Holdings is developing Katy Prairie Business Park, a new 87-acre industrial development offering Class-A space for a variety of uses. The development plan includes three institutional-grade, tilt-wall buildings totaling over 1.1M SF and will be located at Igloo Road between I-10 and Highway 90. NPH’s long-term investment strategy for the project is to develop and manage all the buildings within the park, which will be leased.
ARCO Design/Build Inc. broke ground in December on the first building of the project, a 59K SF building leased by Domino’s, which will use it as a manufacturing, warehouse and distribution center for more than 300 stores in south Texas. Walls are being erected, and construction of that building is expected to be completed by the fourth quarter of 2020.
NPH plans to construct two additional buildings available for lease, from 402.5K SF to 681K SF. The company is represented by Colliers International’s Robert Alinger.
