This Week's Houston Deal Sheet
Miami-based AHS Residential has purchased the last remaining parcel in the Ten Oaks development.
AHS Residential plans to develop three 12-story residential high-rises on the 6.6-acre site situated at the west end of The Energy Corridor, an 83-acre master-planned development.
The project will be the company's first foray into Houston and its second in Texas. The buildings will have 576 units in total, with typical amenities such as a clubhouse and fitness center.
The parcel was sold by Wolff Cos., whose Chairman and President David S. Wolff has been dubbed the father of the Energy Corridor and credited with coming up with the name for the area. The Energy Corridor includes a slew of other multifamily, retail and hospitality venues as well as Houston Methodist West Hospital and Texas Children’s Hospital’s West Campus. The development has been quiet since 2016, when Hunington Properties purchased 3.3 acres for The Shops at Ten Oaks, 20K SF of retail and a quick-service restaurant.
SALES
Woodstone Manor Apartment Homes at 10250 Lands End Drive sold to Gibby’s Capital Investments. Bob Heard, Chip Nash and J. Todd Stewart, all of Colliers, represented the seller. The 95K SF multifamily complex has 144 units and is 98% occupied.
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NQC-VAC Pearland Texas ORA 19 LLC purchased a 0.78-acre tract at Shadow Creek Parkway and Kingsley Drive in Pearland. Brad LyBrand of NewQuest Properties represented the seller, A-S 143SC Ranch LP.
LEASES
Alabama-based polyethylene manufacturer Hercules Inc. signed a 111K SF, long-term lease at Park 8 in northwest Houston. Hellman Worldwide Logistics leases the rest of the 243K SF space, developed and constructed by The Avera Cos. and AEW Capital Management. The building was completed in April 2020. Jim Autenreith and J.W. Wall III of Moody Rambin represented Hercules Inc. in the deal. Jason Dillee and Nathan Wynne of CBRE represented the landlord.
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GlobalFulfillment renewed its 24K SF industrial lease at Central Green Corporate Center Building 6 at 16501 Central Green Blvd. Rob Banzhaf and Mikale DeLoach with Newcor Commercial Real Estate represented the tenant. Cape Bell and Jason Dillee of CBRE represented the landlord, Verde Central Green 7 and 7.
CONSTRUCTION AND DEVELOPMENT
Kilgore Grand Parkway, a 522K SF industrial facility, will open during the fourth quarter of 2022. Houston-based The Avera Cos. is developing it with AEW Capital Management. The cross-dock building will sit across 34 acres in Baytown. Cushman & Wakefield Vice Chair Kelley Parker is handling leasing.
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The Laura, a 360-unit multifamily development at East River, started construction. Midway is developing the Fifth Ward-area East River project, which also includes office and retail. Initial units are expected to deliver in late 2023. OHT Partners is the general contractor on The Laura, while Midway will manage it.
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Construction-themed amusement park Dig World will break ground Nov 19. The 3.5-acre park will open in Katy next year, with more locations elsewhere in the country planned. Box T Construction is handling construction, while it is being developed by Trivium Advisors.
PEOPLE
Houston-based Kirksey Architecture promoted Catherine Callaway to director of sustainability and building performance. Callaway was previously senior project manager for the community projects team. Previous Director of Sustainability Colley Hodges now works as sustainability manager for the Houston Zoo.
