This Week's Houston Deal Sheet

Impact Networking signed a lease for a 16K SF space at Midway’s East River, marking the Illinois-based IT company's first foray into Texas.

Impact Networking is the third office tenant announced so far for the upcoming Fifth Ward mixed-use development. Method Architecture and Teal were announced earlier this year.

When complete, the project is expected to offer 250K SF of office space along with a 360-unit multifamily building, The Laura. It will also have 110K SF of ground-floor retail, including Broham Fine Soul Food & Groceries, Lick Honest Ice Creams, Urbn Dental and an unnamed event venue from the owners of Heights wedding space The Astorian.

It’s the first Texas location for Impact Networking, though more are planned for next year in Austin, Dallas and San Antonio. The company has also been named as Midway’s IT service provider. 

East River’s first phase is scheduled for a 2023 completion. 

SALES

Two drugstores, currently leased to CVS Pharmacy, sold to separate private investors. The properties included a nearly 15K SF building at 322 Cane Island Parkway in Katy and a 10K SF building at 1802 West Mount Houston Road. The sellers were represented by Zach Harris of Stan Johnson Co.

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Lee & Associates brokered several purchases in the greater Houston area, including: 

• An 11K SF industrial building at 510 Chestnut Business Park Drive in Tomball. The building, on just under an acre, was bought by BHKS Ventures, which was represented by Clint Hankla and Justin Cole of Lee & Associates. 

• A 4.68-acre land purchase at 11900 Wallisville Road in Houston. Buyer Duma Land II was represented by C.E. “Trey” Erwin III of Lee & Associates.

• A 41.43-acre land purchase on Interstate 45 North in Huntsville. The unnamed buyer was represented by Frank Blackwood of Lee & Associates. 

• A 3.33-acre land purchase on Savoy Drive in Houston. The unnamed seller was represented by Mike Spears and Frank Blackwood of Lee & Associates.

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Glass Worx LLC purchased a 20K SF industrial building at 5675 Guhn Road. Glass Worx was represented by Brandon Wuntch and Winston Wegner of Fritsche Anderson.

LEASES

Shell renewed its 259K SF lease at 1000 Main in Downtown Houston. Wade Bowlin of Madison Marquette represented the building’s owner, Union Investment. Tim Relyea and Joseph Peddie, both of Cushman & Wakefield, represented Shell. The oil giant renewed its lease early; it was set to expire in 2025. Shell occupies eight floors in the office tower, which is used chiefly for its U.S. trading and supply arm. 

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Cognascents Consulting Group signed a 22K SF lease at 14701 St. Mary’s Lane. The engineering firm is relocating from 1519 Vander Wilt Lane. Justin Walker, of Fritsche Anderson, represented the tenant. 

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UTC Overseas renewed its nearly 14K SF lease at 2 Northpoint Drive in Greenspoint. William Wolff of Fritsche Anderson represented the tenant. 

CONSTRUCTION AND DEVELOPMENT

Boardwalk Lofts, a 319-unit Katy multifamily building, has opened. The property was developed by Sueba USA and is located in the Katy Boardwalk District at 122 Lakeview Way. Floor plans for the four-story mid-rise range from 480 to 2K SF.