This Week's Houston Deal Sheet
Healthpeak Properties will redevelop West Medical One, a four-story, 168.8K SF medical office building at 12121 Richmond Ave. in west Houston.
West Medical One is part of the HCA Houston Healthcare West Campus. Healthpeak engaged Houston-based Identity Architects and EE Reed Construction to complete the project, which involves upgrades and renovations to almost every aspect of the property.
The building will have two new covered patient drop-offs, an outdoor dining area and tenant lounge with conference room conversion ability, and all common areas will be modernized.
The lobby will see a major transformation, increasing the ceiling height to two stories in addition to all new finishes and furniture. The planned renovations include the addition of three new move-in-ready medical spec suites ranging from 1.3K SF to 2.5K SF.
The construction is in the permitting process, will be completed in phases to work around the current tenants and patients, and should be finalized during the first quarter of 2022.
Transwestern’s Ashley Cassel and Danielle Lanza provide agency leasing services for West Medical One as well as the neighboring property, West Medical Two.
PEOPLE
NAI Partners promoted Travis Rodgers to partner and chief operating officer. He will also continue to hold the title of executive vice president. Rodgers will be fully responsible for the day-to-day operations of the firm as it executes its strategic vision, as well as hold responsibility throughout the Brokerage Services portion of NAI Partners’ business in conjunction with Jon Silberman.
Rodgers joined NAI Partners in the spring of 2019 and has responsibility for overall executive management of several key areas of both the operations and revenue management, as well as growth of the firm.
Prior to joining NAI Partners, Rodgers worked at Whitestone REIT, where he served as director of operations and was responsible for the day-to-day real estate functions of its 6M SF retail, office and industrial portfolio across Texas and Arizona. Previously, Rodgers was with Walmart Realty for 18 years.
***
Corbin Janssen joined Bryant + Stacy Group as vice president. Janssen was previously with CBRE in Houston, where he served as vice president responsible for advising clients on financial underwriting, occupancy cost reduction strategies and lease structuring. Prior to that, he was with Colliers International where he focused on office and industrial tenant representation, as well as building and investment acquisitions and dispositions for local, regional and global corporations.
SALES
An undisclosed Houston-based buyer purchased OYO Townhouse Houston, a 97-room, four-story hotel at 12701 North Freeway in north Houston. The hotel is a short sale distressed asset. Marcus & Millichap’s Andrew Frosch, Louis Dan, Chris Gomes and Allan Miller had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was secured and represented by Frosch, Miller and Gomes.
***
Syntech Chemicals purchased an 18K SF chemical plant at 7500 FM 1405 in Baytown. CBRE’s Bill Rudolph and Kyle Golding represented the buyer, while NAI Partners’ Joel Michael, John Simmons and Holden Rushing represented the seller, TGS Cedar Port Partners.
LEASES
Global law firm Greenberg Traurig renewed a lease for 37.3K SF at Wells Fargo Plaza, relocating within the Downtown Houston office tower. Newmark Knight Frank’s Lispah Hogan and Mike Shuler represented the tenant, while CBRE’s Marilyn Guion and Warren Savery represented the landlord.
***
IntegriCert LLC leased a 10.8K SF industrial building at 11606 Canyon Trail Drive in northwest Houston, within Four Seasons Business Park II. Belvoir’s Nick Spearman represented the tenant, while Finial Group’s John Buckley and Jack Gaffney represented the landlord.
THIS AND THAT
NAI Partners has been named the exclusive sales agent for new construction multifamily development Crown Apartments, located at 16844 Sugar Pine Drive in northwest Houston.
Crown Apartments is a Class-B, garden-style, 96-unit multifamily development under construction. Phase 1 of the project, which will include 118K SF on 6 acres, will deliver in May. Phase 2 is proposed for the remaining 3 acres.
NAI Partners’ Scott Lunine and Kamil Patel are the brokers marketing the apartment complex.
***
Brookfield Properties’ entire Houston office portfolio — Allen Center, Houston Center, Heritage Plaza, Total Plaza and 1600 Smith — is now WELL Health-Safety Rated. Designed by public health experts, academics, business leaders, architects, building scientists and real estate professionals, the rating recognizes buildings that are prioritizing health and safety.
The designation was earned by prioritizing cleaning and sanitizing spaces, developing and implementing emergency preparedness plans, conducting rigorous air and water quality management, communicating coronavirus protocols consistently and effectively, and proactively testing to evaluate how well HVAC systems are performing.
