This Week's Houston Deal Sheet
Houston Methodist will build its ninth hospital in Cypress.
The hospital, which will break ground in several months, will open in the first quarter of 2025.
“We are going to take the lessons we’ve learned at the Center for Innovation and the technology we’ve adopted during this pandemic to improve the patient experience by improving communication between physicians, staff, patients and their families and offering the best patient care possible," CEO Dr. Marc Boom said in an internal email, published in a release.
The 400-bed hospital was first announced last year and will join two other Cypress-area clinics. It will employ 500.
PEOPLE
Granite Properties has promoted Jon Dutton to director of leasing.
Previous Senior Director of Leasing Steve West retired after 20 years in December. Dutton joined the company in 2019. Before that, he was director of leasing at Brookfield Properties.
David Weekley Homes promoted Brock Eller to area president and Greg Grahmann and Ralph Brown to division presidents for the company's Houston office.
Eller has worked for the company since 2012, Grahmann was hired in 2013 and Brown was hired in 2017.
SALES
Boxer Property has bought the 167K SF Columbia Centre at 11011 Richmond Ave.
Boxer Property was represented by Director of Acquisitions Andre Pereira. Avison Young's Darrell Betts and Jessica Alexander represented the seller.
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The Mission Cos. purchased three buildings in southeast Houston that total 222K SF.
The buildings at 2100 Space Park Dr., 2200 Space Park Dr. and 2200 NASA Road One are 85% occupied. Featherwood Capital represented the seller, and The Houston Group arranged financing.
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Preston Medical Realty sold an 18K SF, 1.93-acre medical facility at 5040 Crenshaw Road.
The property was purchased by an entity sponsored by The Woodlands-based Pisula Development Co. NAI Partners' Cary Latham and Wyatt Huff represented the seller.
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Denver-based Price Realty Corp. acquired Houston multifamily property Arlo Memorial Apartments.
The 414-unit apartment property at 935 North Wilcrest Drive was built in 2015. JLL's John Brownlee represented New York Life Real Estate Investors.
LEASES
Gulf South Pipeline Co. extended its 98.6K SF headquarters lease at Greenway Plaza.
The company was represented by Cushman & Wakefield Vice Chairman Christopher Oliver and Executive Managing Director David Guion. Parkway represented itself through Senior Director of Leasing J.P. Hutcheson and Director of Leasing Rima Soroka.
CONSTRUCTION AND DEVELOPMENT
Blossom Hotel Houston held its grand opening on Feb. 8 after a soft opening late last year.
The 267-key hotel has 9K SF of event space, including a meeting hall that can hold 250. Mayor Sylvester Turner in a statement called it the first luxury hotel to open since the pandemic began.
