This Week's Houston Deal Sheet
Texas-based Buc-ee's will break ground June 7 on its first Colorado store at 5201 Nugget Road in Johnstown, Colorado.
The store will be 74K SF and will employ 175 people. Additional stores are under construction in Tennessee, and the company is planning more for Mississippi and Missouri as it expands its reach across the South and West.
"We picked a great partner in the community of Johnstown for our first store in Colorado," Buc-ee's Director of Real Estate Stan Beard said in a release. "At the foothills of the beautiful Northern Front Range, this Buc-ee's will introduce all sorts of bikers, hikers, skiers, and campers to the cleanest restrooms, friendliest staff, and freshest food they'll ever find on a road trip."
PEOPLE
Partners Real Estate promoted Chris Haro and Joshua Lass-Sughrue to partners.
Haro, previously senior vice president, has worked on industrial deals in Houston, including being a member of the leasing team at TGS Cedar Port. Lass-Sughrue has worked with Partners since 2010, brokering recent deals across Houston in retail and industrial.
SALES
Urban Palms at 8701 Town Park Drive in Chinatown sold to a California fund management group. The multifamily property is 659 units and was built in 1979.
Northmarq associate Justin Chambers and Scott Lamontagne arranged the sale; Northmarq represented both the buyer and seller.
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Westmount Realty Capital sold Westmount at Summer Cove, a Class-B multifamily development. It was built in 1983 and is 376 units.
Westmount owned the property at 725 FM 1959 for seven years, and it renovated and rebranded it.
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TruAmerica Multifamily purchased Villas at West Road in northwest Houston.
The multifamily property is 240 units and was completed in 2006. TruAmerica plans to upgrade the units with new kitchen details, including appliances, floors, cabinets and other fixtures.
It's the company's third Houston-area purchase.
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Pepco Sales purchased a 44.5K SF facility at 13939 Fallbrook Drive. Stream Realty's Tyler Maner and Heath Donica represented Pepco.
LEASES
Cash distribution company Loomis leased 31K SF at Prologis Park Beltway Antoine 7.
JLL's Kevin Block, Kevin Erck and Jeff Venghaus represented Loomis. CBRE's Nathan Wynne and Jason Dillee represented the landlord.
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Stream Realty Partners announced several leases:
— Swift + Co. leased 59K SF at Prologis Post Oak at 1297 North Post Oak Road. Stream Realty's William Carpenter and Boone Smith represented the landlord.
— OKT Lighting USA leased nearly 18K SF at Century Oaks Business Center at 10641 South Sam Houston Parkway West. Stream Realty's Tyler Maner and Cristina Sigarrostegui represented the tenant.
— V-Lumber leased 49K SF at Market Street Logistics at 8550B Market St. Stream Realty's Jeremy Lumbreras and Garret Geaccone represented landlord CenterPoint Properties.
— Cinch Kit leased 70K SF at Prologis Rampart at 7350 Langfield Road. Jeremy Lumbreras and Boone Smith represented landlord Prologis.
— Coban Technologies leased 41K SF at Waypoint Business Park at 9411 South Sam Houston Parkway West. Stream Realty's Matteson Hamilton and Woody Hillyer represented landlord 4M Investments and Clarion Partners.
CONSTRUCTION AND DEVELOPMENT
Jackson-Shaw will develop Northeast Crossing, an industrial park, at the northeast corner of Wallisville Road and Shadrack Street. It is expected to be completed in 2023.
The 27-acre facility will have one 424K SF building. Diamond Realty Investments is the equity partner, Rosenberger Construction is the general contractor, Powers Brown is the architect, Kimley-Horn is the civil engineering firm, and Comerica is the lender. CBRE's Jason Dillee and Nathan Wynne are leasing the property.
CORRECTION, JUNE 6, 1:45 P.M. ET: A previous version of this story misidentified the address for V-Lumber. The story has been updated.
