This Week's Houston Deal Sheet
Fort Capital has acquired a 711K SF industrial portfolio in Houston.
The deal, Fort Capital's largest yet, consists of 23 Class-B industrial buildings across the Houston suburbs. The portfolio is 76% occupied.
“By year end we anticipate purchasing an additional 725,000 square feet in Houston bringing our total assets under management to over 6M square feet," Fort Capital CEO Jason Baxter said in a release. "We believe industrial real estate in this market is particularly well-positioned to weather economic challenges because of its strong fundamentals."
Fort Worth-based Fort Capital said the deal significantly increases its footprint in industrial-heavy Houston, and the fact the properties are already built makes it a good investment due to land and construction costs.
SALES
Celesium Capital sold a 112.6K SF office building at 7011 Southwest Freeway to Prasla Property. Transwestern's Michelle Wogan and Paula Musa represented the seller.
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VIV Real Estate acquired Envue Square Apartments. The 135-unit complex, next to Gulfgate Shopping Center, is the first acquisition for the company, which was founded last year.
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Bridgewell Property Management acquired Kings Harbor Waterfront Village, a mixed-use property at Lake Houston in Kingwood.
LEASES
Legion Piping Fabricators leased 51K SF at 6410-F Langfield Road.
NAI Partners' Travis Land and A.J. Williams represented the landlord, HOU IND 2. First Houston Properties' Patrick McKiernan and James Mashni represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Charter school system Harmony Public Schools will open a location in Bridgeland, a master-planned community developed by The Howard Hughes Corp.
The Howard Hughes Corp. sold 29 acres at Grand Parkway and Creekland Village Drive to Harmony Public Schools for the site. The school will have a 450-student capacity and will open ahead of the 2024-2025 school year. The initial phase will have an elementary school for pre-K to second grade, along with sixth grade, while a middle and high school will be added ahead of the 2026-2027 school year.
The initial phase will be 58K SF. The school is designed by Corpus Christi-based Gignac Architects.
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Boxer Property's coworking entity, Workstyle Flexible Spaces, added a 24K SF coworking space to its office building at 1601 Industrial Blvd. in Sugar Land.
The space includes lounges, coffee bars, and huddle and conference rooms.
THIS AND THAT
The Governor's Commission for Women will hold a Women-Owned Businesses Series this year, partnering with the Beacon State Fund to hold four virtual events and one in-person event to highlight resources for women-owned businesses.
The first event will be Aug. 31, with events running until Oct. 6. Topics include legal, accounting, finance, marketing and employee retention.
