This Week’s Houston Deal Sheet
Stream Realty Partners has completed construction on Benchmark Northwest Distribution Center, a 157.9K SF industrial building in northwest Houston.
The Class-A distribution space at 5215 Campbell Road has a front-load configuration, 32-foot clear height, fenced truck court with 33 trailer parking spaces, 33 dock-high doors and 125 auto parking spaces.
Stream Realty Partners’ Houston Industrial Division managed the project’s development. Stream’s Justin Robinson and Matteson Hamilton will oversee the leasing of the new space, and the company will handle property management.
Ware Malcomb’s Chris Royster managed the architectural designs, and Rosenberger Construction served as the general contractor.
SALES
Realty.com acquired the entire commercial real estate portfolio of Texas-based Oxley Leasing, approximately 1M SF of office space in Houston and Dallas. The acquisition was led by Realty.com CEO Lance Custen. The company intends to renovate all of the buildings into Class-A office spaces with amenities including full-sized restaurants, arcades and gyms.
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Salon Naturale LLC purchased a 0.6-acre development site at 2924 West Walker St. in League City. JEA Properties’ Erica Nava represented the buyer, while 713CRE’s Ronnie Miranda represented the seller, JMK5 Holdings.
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Camp Bow Wow purchased 0.84 acres at Sam Houston Parkway in Humble. RESOLUT RE’s Mayur Shah represented the buyer, and BPI Realty’s David Ferguson represented the seller.
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RL3 Properties purchased a 16.5K SF industrial building on 2.2 acres at 9100 Caniff in southeast Houston. NAI Partners’ Joel Michael represented the buyer.
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Heston Law Firm purchased a 10.6K SF office building at 431 Mason Park Blvd. in Katy. The property was previously owner-occupied as the headquarters for Resolve Logistics. Heston Law Firm will utilize the property as well as lease out additional square footage. Compass’ Laura Miranda represented the buyer, while Davis Commercial’s Cotton Munson represented the seller.
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An undisclosed buyer purchased 710-712 East Sunnyside St., an 8.8K SF industrial property in north Houston. The property is situated on 0.43 acres and was built in 1982. Marcus & Millichap’s Adam Abushagur and Max Lozmack represented the seller, a private investor.
LEASES
LJA Engineering Inc. extended its lease and expanded its office space from 33.5K SF to 38.4K SF at 1904 West Grand Parkway N in Katy. Avison Young’s Anthony Squillante and Dustin Devine represented the tenant, while Transwestern’s Parker Burkett and Eric Anderson represented the landlord, 1904 Grand Parkway North LP.
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Modern Chemical LLC leased 18.6K SF of industrial space at 1103 East Airtex in north Houston. NAI Partners’ Jon Silberman represented the tenant, and NAI Partners’ Travis Land represented the landlord.
CONSTRUCTION AND DEVELOPMENT
Construction has topped out on Hewlett Packard Enterprise’s new campus in CityPlace, the urban and commercial center in Springwoods Village. The HPE campus will consist of two five-story buildings totaling 440K SF of rentable space at the southwest corner of East Mossy Oaks Road and Lake Plaza Drive. The buildings will have a bridge connector at each level for easy accessibility and structured parking for 2,055 cars. The campus is scheduled for completion in spring 2022.
Pickard Chilton is the design architect, Kirksey is the executive architect, REES is the interior architect and D.E. Harvey Builders is the general contractor of the HPE campus.
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C.I.A. Services Inc. has broken ground on the construction of its newest regional headquarters in Humble. The 15K SF development is located at 18333 Timber Forest Drive in Atascocita and was designed by Tramonte Design Studio. Construction is slated for completion in June. The Southwest office will be moving to a newly established 2.4K SF space in November at One Park Ten Plaza and going forward will be referred to as the West Houston office.
THIS AND THAT
JLL has been selected to manage the development of a new outpatient services center on The Menninger Clinic’s 50-acre campus near the Texas Medical Center. The new project will become home to Menninger’s existing Sleep Medicine Service, Brain Stimulation Center, Outpatient Assessment Service, medication management, outpatient consultations and therapy, as well as complementary programs as they are developed.
The Houston-based nonprofit psychiatric hospital is expected to break ground on the 33K SF healthcare facility in November. JLL’s Mark Harrison is leading the project and development services team. The architect for the center is Kirksey Architecture, and the general contractor is Tellepsen. The project is expected to open in February 2022.
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The Real Estate Center at Texas A&M University will change its name on Jan. 1. The center will be returning to its original name, the Texas Real Estate Research Center. The center was officially created and named the Texas Real Estate Research Center by an act of the state Legislature in 1971. The name was unofficially shortened in 1986 to assist in marketing.
A growing list of imitators was cited as the primary reason for the change. The change in name will usher in the center’s 50th anniversary.
