This Week’s Houston Deal Sheet
Frito-Lay, a division of PepsiCo, is investing $200M to expand its Rosenberg facility in Fort Bend County.
The $200M investment will add two manufacturing lines for Funyuns and tortilla chips, as well as increase capacity in its warehouse.
It’s the second investment Frito-Lay has made to the Rosenberg site since 2019, when the company announced a $138M investment that added a new Cheetos line, new seasoning and packaging equipment and a warehouse expansion, set to be complete late 2021.
The new expansion, coupled with that previous expansion, will take the site from 488.9K SF to 801.9K SF by the fourth quarter of 2022, Frito-Lay said.
The Rosenberg facility has been around for nearly four decades and has the largest footprint of any Frito-Lay facility in Texas, according to the firm.
SALES
BHVA Real Estate Holdings LLC purchased a 125.3K SF industrial building at 13101 Almeda Road. Oxford Partners’ Matt Rogers represented the buyer, while Finial Group’s Doc Perrier, Jack Gaffney and John Buckley represented the seller, Agarita Almeda LLC.
***
35 South Capital launched its inaugural fund, The Front Porch Fund, and acquired its first property: a two-story, 13.1K SF mixed-use, retail office project at 3642 University Blvd. in the West University Place neighborhood.
***
RS 12909 Hospitality LLC purchased the 81-room Hampton Inn Houston Brookhollow, located at 12909 Northwest Freeway. CBRE’S Michael Yu, Rahul Bijlani and Manasvini Sridhar brokered the sale on behalf of the seller, Highway 290 Hotel Partnership Ltd.
***
An undisclosed buyer purchased 1.28 acres at the southwest corner of North Mason and Morton Road in Katy. RESOLUT RE’s Mohamed Gamal represented the seller, Gamal Enterprises.
LEASES
SuperNova Furniture leased 40K SF of retail space at Brazos Town Center in Rosenberg. Streetwise Retail Advisors’ Joe Silver and Chris Pitts represented the tenant, while NewQuest Properties’ Bob Conwell and Austen Baldridge represented the landlord.
THIS AND THAT
Life Time opened its newest luxury athletic club and coworking space at the GreenStreet mixed-use development in Downtown Houston. The athletic resort includes a 56K SF athletic club and the 29K SF Life Time Work coworking concept.
Highlights of the athletic club include dedicated studios for group fitness, multiple food options, a full-service salon and spa, and luxurious dressing rooms.
The coworking space, Life Time Work’s second location in Houston, includes private office spaces, flexible membership contracts, lounge spaces, open resident desks, conference rooms, tech support and community events.
GreenStreet is a four-block, mixed-use development owned by Midway and Lionstone Investments. Life Time GreenStreet will access the tower lobby on levels two and three, which will connect from Polk Street to the GreenStreet Lawn, an open area programmed with live music and other community activities.
***
Houston-based multifamily developer Morgan is a winner of the 2020 National Apartment Association Best Places to Work award program. The award identifies member organizations that encourage employee engagement and performance and foster collaborative, innovative work environments.
Winners were determined based on scores gathered from a Net Promoter Scores-based employee satisfaction survey, launched as part of the awards program. Employees themselves determine where their organization ranks, providing employers with firsthand feedback about their workplace.
***
McCord, owner and developer of Generation Park in Lake Houston, announced the addition of Nimble Workspaces, its brand of flexible workspaces for businesses of all sizes, to Redemption Square, the development’s mixed-use lifestyle district.
Nimble Workspaces will feature 36 offices with flexible spaces. In addition to private offices, five meeting and conference spaces will be available to members and day pass holders. Nimble Workspaces will also provide a sound-absorbing podcasting room, a mother’s room and a 1.5K SF “Nimble Space” for large teams, corporate offsite meetings, presentations, events and hot desk members.
Architecture firm Corgan, led by David Euscher, Beth Ann Siegel and Joy Bottom, designed Nimble Workspaces. Workspace consultancy experts Christine Andrews, Benjamin Dyett and Liz Elam of DECO Group were engaged to provide advice and feedback as experts in the flexible workspace industry. O’Donnell Snider, led by Kevin Gilmore, is completing construction.
