This Week's Houston Deal Sheet
Sueba USA began developing Ivy Lofts, a Class-A apartment and retail development set to open in Pearland in late 2023.
The development includes 335 apartments above 10.7K SF of ground-level retail space, according to a news release. It also includes a five-level parking garage.
The location in Pearland’s Ivy District, near the State Highway 288 frontage road and South Spectrum Boulevard, offers easy access to State Highway 288 and South Beltway 8.
The apartments will come in studio to three-bedroom floor plans that will range from 480 SF to 1.3K SF. The apartment complex will feature a resort-style pool, a separate lap pool, outdoor cabanas with grilling areas, a gym and a coffee bar, the release states.
No plans for retail occupants were announced.
The 42-acre Ivy District began infrastructure development in 2019, and the Ivy Park was completed in 2020. It has pavilions, a playground, a lake and a pedestrian bridge that connects to the Shadow Creek Nature Trail, according to the release.
Plans call for eventually developing office, retail and residential buildings amid the open spaces, water features and various tree plantings.
SALES
A local buyer purchased 6200 North Main St., a 10K SF retail/professional building, from a Houston-based developer, Marcus & Millichap announced.
Justin Miller, senior vice president of investments in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller.
The Heights continues to attract a lot of buyer attention, Miller said in a news release, adding they sourced the local buyer in a 1031 exchange.
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Solugen Inc. purchased 11K SF of industrial warehouse space from religious nonprofit Iglesia Filadelfia de Apostoles y Profetas. The warehouse is on 1 acre of land at 11808 Canemont St. in Houston. Fritsche Anderson Realty Partners' Jim McGonigle and Brandon Wuntch represented both the buyer and seller.
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Lawton Anderson and Sam Rayburn of Moody Rambin represented the building owners in the sale of the 5K SF 8603 Shoal Creek warehouse, named for its address at 8603 Shoal Creek Drive. No sales price was provided.
CONSTRUCTION AND DEVELOPMENT
Platform Group, Gensler, WGI and Angler broke ground on 3509 Harrisburg, a mixed-use retail and office project in Houston’s East End. The building will be about 18K SF spread across three floors.
Completion is scheduled for Q2 2023. The building has direct access and visibility to the Coffee Plant light rail station. Parking is to be shared with 3501 Harrisburg, another Platform Group development currently occupied by event space Ronin Art House and Eight Row Flint, a “revisionist ice house” bar and restaurant expected to open this quarter.
Platform Group is the owner and developer, Gensler is the design architect, WGI is the civil engineer, and Angler is the general contractor for the project.
LEASES
NuCo2 leased a building at 8515 East North Belt Drive that has 12K SF of industrial space and 5K SF of office space. NuCo2 provides beverage carbonation services to the hospitality industry. Doc Perrier and Jason Gibbons of Finial Group represented the tenant in the transaction.
CORRECTION, DEC. 5, 9:41 A.M. CT: A previous version of this story misidentified which party Finial Group's Doc Perrier and Jason Gibbons represented in a transaction at 8515 East North Belt Drive. The story has been updated.
