This Week's Houston Deal Sheet
The city of Conroe has announced plans to build a 250-room hotel, convention center and five-level parking garage within Grand Central Park, the master-planned community owned by Johnson Development Corp.
The project, which has a price tag of $92M, is expected to begin construction this month and be completed by November 2022. The hotel will be leased to a luxury third-party hotel operator and brand, which has not yet been announced.
The hotel and convention center will be in the commercial district near Marcel Boulevard, an open-air shopping, dining and office development. The area is also home to Sam Houston State University’s new College of Osteopathic Medicine, which opened last summer as the first medical school in Montgomery County.
In addition to the project, Johnson Development Corp. has started work on a new entryway into the community. Visitors will be able to take the Camp Strake/Crighton Road exit off I-45 North and turn left, directly into the community. Highway signage is expected to be completed in 2021.
PEOPLE
Berkadia added a new investment sales team to its Houston office, bringing on board Senior Managing Directors Chris Curry and Todd Marix and Senior Directors Joey Rippel and Chris Young. The team is an established regional leader in multifamily sales. The team joined from JLL, where they were among the company’s top-performing investment sales groups nationally.
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Dana Khan was promoted to vice president of investment sales at B. Pennington Commercial Real Estate Inc. Khan joined the firm in 2019 and represents buyers and sellers for commercial land, buildings and industrial properties.
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Asset Living executive Hugh Cobb was elected as president of the Texas Apartment Association. Cobb stepped into the role on Sept. 1 and had an official induction in late January, which was a delayed celebration due to the coronavirus pandemic.
SALES
All Industrial Electrical Supply purchased a 10.8K SF newly renovated warehouse at 2614 Carrolton St. Houston Realty Advisory represented the buyer, while Shaw Real Estate’s Jay Shaw represented the seller, F. & J. Crowley.
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ICS Management Corp. purchased a 12.1K SF industrial building at 8713 Fallbrook Drive in northwest Houston. Finial Group’s Jack Gaffney and Jack Callaghan represented the seller, ASAP Real Estate Inc.
LEASES
McLane Global leased 112.6K SF at Interstate Commerce Center. Stream Realty Partners’ Jeremy Lumbreras and Matteson Hamilton represented the landlord, High Street Logistics Properties.
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Miner Ltd. extended a lease for 24.4K SF at 11533 Main St. in southwest Houston. Eric Summers represented the tenant, while Finial Group’s Jack Gaffney represented the landlord.
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Happy Family Chinese Buffet renewed its lease for 10K SF at 3101 FM 1960 East in Humble. NAI Partners’ Jason Gaines represented the landlord.
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Marquis Distributors leased 11.6K SF at Sugar Land Business Park. Stream Realty Partners’ Garret Geaccone and Boone Smith represented the landlord, Alpha Industrial Properties.
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Spectra Metals leased 18.3K SF at Bluebonnet Service Center. Stonelake’s Hunter Sage represented the tenant, while Stream Realty Partners’ Jeremy Lumbreras and Boone Smith represented the landlord, DRA Advisors.
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Chicago Water & Fire Restoration leased 13.1K SF at Northwest Industrial Park. Stream Realty Partners’ Jeremy Lumbreras and Jeff Pate represented the landlord, Prologis.
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Harris County leased 30.9K SF at Pine Forest Business Park. Stream Realty Partners’ Garret Geaccone and Boone Smith represented the landlord, Agellan Commercial REIT.
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Lennox Industries leased 11.3K SF at Prologis Post Oak. CBRE’s Peter Dana and Boomer White represented the tenant, while Stream Realty Partners’ William Carpenter and Garret Geaccone represented the landlord, Prologis.
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Kana Energy renewed its lease at Techway Southwest Business Park. Stream Realty Partners’ Andrew Littlefield and Tyler Maner represented the tenant.
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Environmental Sampling Supply renewed its lease of 10.4K SF at Northgreen Business Park. CBRE’s Mary Kay Brada represented the tenant, while Stream Realty Partners’ Garret Geaccone and Boone Smith represented the landlord, Agellan Commercial REIT.
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Pilkington North America expanded and renewed its lease of 28K SF at Silber Road Business Park. JLL’s Jeff Venghaus represented the tenant, while Stream Realty Partners’ Garret Geaccone and Boone Smith represented the landlord, Agellan Commercial REIT.
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Mayer Electric leased 32.4K SF at West by Northwest Business Park. Stream Realty Partners’ Heath Donica and Tyler Maner represented the tenant.
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Pronto Shipping & Packaging Services leased 18.2K SF at Southport Business Park. United Heroes Realty’s Pablo Ng represented the tenant, while Stream Realty Partners’ Garret Geaccone and Boone Smith represented the landlord, Agellan Commercial REIT.
THIS AND THAT
Additions and renovations have been completed on the boutique La Colombe d’Or Hotel in Montrose, and the hotel is set to reopen on March 29. The Zimmerman family, which has owned the La Colombe d’Or Hotel since 1979, renovated the original 1923 mansion-turned-hotel and partnered with developer Hines to add a 34-story residential tower adjacent to the original building. The new tower, The Residences at La Colombe d’Or, will offer 285 apartment units and 18 luxury hotel suites on the lower level.
The Residences at La Colombe d’Or project team included Munoz + Albin, Rottet Studio, Robinson & Co. and Modern Builders.
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The Howard Hughes Corp. held a ribbon-cutting ceremony on March 9 for the renovation of the lobby and four office suites at the five-story, 95.6K SF 1400 Woodloch Forest office building in The Woodlands.
This renovation extended the lobby through the ground level of the building, leading to the parking areas on the north side and south side. It also features all-new finish materials including tile flooring and walls, with modern lighting and hard ceilings. The transformation also includes the renovation of four office suites, which will feature updated finish materials and a modern color palette. Gensler served as architect on the project, and Byrd Construction handled the renovation.
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Austin-based RPM and Atlanta-based CF Real Estate Services have merged, creating a national multifamily footprint with over 84,000 units across 17 states. The combined organization will have more than 1,800 employees with nine regional offices in Charleston, Chicago, Dallas, Denver, Houston, Tampa, Phoenix, San Antonio and Washington, D.C., a regional headquarters in Atlanta and its main headquarters in Austin.
