This Week's Houston Deal Sheet

Regent Square has debuted 55K SF of retail and the 590-unit multifamily project, The Sterling.

The second phase of GID Development Group's Allen Parkway-area mixed-use project comes six years after its first phase, The Sovereign at Regent Square.

"Our vision for Regent Square has always been to create a cosmopolitan destination along premier acreage fronting the Allen Parkway Corridor, fulfilling the need for a pedestrian-friendly center that is energized by a mix of diverse retail, exceptional restaurants, and contemporary entertainment concepts,” said GID Development Group President James Linsley in a release. “We are excited to celebrate delivering this vision, creating a dynamic community, and inspiring a true sense of place.”

The Sterling has 60K SF of outdoor amenities and 16K of indoor amenities, including meeting rooms that can be booked by individuals, three bars and a demonstration kitchen.

The second phase includes three jewel box retail spaces, which will be filled by two new Underbelly Hospitality restaurants and British dart entertainment concept Flight Club. 

Arch-Con is the general contractor, while Boston-based CBT designed the space. OJB Landscape Architecture designed the landscaping.

SALES

Waterton purchased the 360-unit mutifamily development Stonepost at Shadow Creek Ranch, at 12400 Shadow Creek Parkway in Pearland. It will be rebranded as Sladestone at Shadow Creek Ranch. The property will be upgraded to include new flooring, appliances, lighting, plumbing and more.

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The Bascom Group acquired two Houston-area multifamily complexes: The Spencer Park Row, 390 units, near Katy, and Tranquility Lakeside, 212 units, in Pearland. Clint Duncan and Matt Phillips of CBRE represented the seller.

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Barvin purchased Elan Heights, a 10-story, 326-unit multifamily, Class-A+  property in the Heights.

LEASES

Stream Realty Partners in Houston announced a number of leases:

• Wisenbaker Builder Services leased 143K SF at Hardy Distribution Center at 1521 Greens Road. Ryan Boozer and Grant Wisenbaker with Stream Realty Partners represented the tenant. Justin Robinson and Boone Smith with Stream represented the landlord, Clarion Partners.
• Apex Quartz USA leased 27K SF at Northwest Industrial Park at 9618 Tidwell Road. Boone Smith and Garret Geaccone with Stream represented the landlord, DRA Advisors.
• Liron Lighting leased 12K SF at Greenbriar Business Park at 4115 Greenbriar Drive. William Carpenter and Garret Geaccone represented the landlord, DRA Advisors.
• Slite Electrical Supply leased 13K SF at Greenbriar Business Park. William Carpenter and Garret Geaccone represented the landlord.

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WSS Shoes leased its ninth Houston space at 12445 FM 1960 West, the site of a former Walgreens. Shawn Ackerman and Jason Du of Henry S. Miller Brokerage represented the tenant. Scott Gardner of Streetwise Retail represented the landlord.