This Week's Houston Deal Sheet
The Howard Hughes Corp. will create its first build-to-rent neighborhood in Bridgeland, its master-planned community in Cypress.
The neighborhood, dubbed Wingspan, will have 263 single-family attached or detached houses on a 27-acre segment of Prairieland Village. Floor plans are one- to four-bedrooms, from 650 to 1.7K SF. Houses will include backyards and maintenance.
“By adding Wingspan to our diverse housing options in Bridgeland, Howard Hughes is responding to the unwavering demand for turnkey homes with all the benefits that come with living in the master planned community,” Travis Guinn, Howard Hughes' vice president of vertical development, said in a release.
The BTR houses will be managed by Howard Hughes' multifamily division.
SALES
Sehorn Investments sold a 21K SF warehouse at 14105 Packard St. in Houston.
NAI Partners' Michael Keegan and Andrew Laycock represented the seller.
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The New Generation Engineering & Construction Co. bought a 23.7K SF industrial building at 7522 South Santa Fe Drive. The building is on a 1.64-acre lot. The buyer was represented by NAI Partners' Zane Carman and Clay Pritchett. Boyd Commercial's David Munson and Garrett Thomas represented the seller.
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Cutten Road Shopping Plaza sold an 11K SF retail building, along with just under an acre of land, at 12723 Cutten Road.
NAI Partners' Ryan DeGennaro represented both the seller and buyer.
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An unnamed entity sold an 11K SF warehouse on 1.16 acres at 819 Success Court in Stafford.
NAI Partners' Zane Carman and Clay Pritchett represented the seller.
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Fellow Houston Investment bought 4.18 acres between Beltway 8 and Fellows Road. They were represented by NAI Partners' Travis Land, AJ Williams and Alisha Renshaw. Colliers' Tom Condon Jr. represented seller David Christian.
The buyer intends to build a 61.7K SF distribution building on the site.
LEASES
CTCI Americas, an engineering and construction company, leased a 29.7K SF office at 15721 Park Row in the Energy Corridor.
The long-term lease is three times the size of its previous lease at 11490 Westheimer Road. Avison Young principal Josh Morrow represented CTCIA; CBRE's Steve Rocher, Parker Duffie and Jenny Mueller represented BH Properties.
THIS AND THAT
Commercial construction firm Burts Construction filed for Chapter 11 bankruptcy with the Southern District of Texas bankruptcy court.
The company listed its assets as between $100K and $500K, with $1M to $10M of liabilities.
