This Week's Houston Deal Sheet
Waller ISD will build its second elementary school in Bridgeland after buying a 19-acre parcel from The Howard Hughes Corp., the developer of the master-planned community.
The land is in Prairieland Village, at the intersection of Conservation Crossing and Hilltopping Drive. The planned school will serve 850 students and support the projected population growth for Prairieland Village and Creekland Village, subdivisions of Bridgeland.
This will be the fifth public elementary school in Bridgeland, including three Cypress-Fairbanks ISD elementary schools already operating there. More schools will be built as Bridgeland continues to grow out of Cypress and into Waller and Hockley.
The first Waller ISD elementary school will also be served by Katy ISD in the southern portion of Prairieland Village, according to Bridgeland’s website. Waller ISD will break ground on that school in spring 2023, according to the Howard Hughes news release.
SALES
A local private investor purchased a 100K SF shopping center near FM 1960 and Interstate 45 in north Houston. Newman Kelly’s Logan Kelly represented the seller in the off-market transaction and also procured the buyer.
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Baytown's Someburger, which has served burgers, fries, milkshakes and malts since 1955, is expanding into Mont Belvieu. Somerealty purchased three-quarters of an acre from the city of Mont Belvieu near Langston Drive and Edgewood Avenue. Greg Shaw with Shaw Commercial Properties represented the seller in the transaction.
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Heights 26 LLC purchased 23K SF on 0.53 acres at 2521 North Shepherd Drive in the Heights. A. David Schwarz III and Carlos Bujosa of Transwestern represented the seller.
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2 Old Crows LLC purchased 135K SF at 3805 and 3813 NASA Road in Seabrook. Jeff Peden and Scott Miller of Transwestern represented the seller, PHCG Investments, in the transaction.
RPM Living acquired Ashton on West Dallas, a multifamily complex in Montrose. The complex was built in 2013 and features 246 units with 10-foot ceilings, floor-to-ceiling windows and wood floors, according to RPM Living.
RPM purchased the building from CIM Group. Amerant Bank financed the acquisition.
LEASES
Transwestern announced the following leases:
— Lonestar Fulfillment leased 76K SF of industrial space at Claymoore I and II in Houston. Jude Filippone of Transwestern represented the landlord, Invesco.
— Venture Global, a North American liquified natural gas producer, expanded its office footprint at 5 Houston Center to 26K SF in Downtown Houston. Transwestern’s Tyler Garrett and Katy Gragg represented the landlord, Spear Street Capital.
— Galen College of Nursing leased 72K SF of office space at Westway One in the West Belt submarket. Transwestern’s Eric Anderson, Doug Little and Parker Burkett represented Capital Commercial Investments in the transaction.
— NorthDen Holdings leased 53K SF of office space at 17000 Katy Freeway. Transwestern’s Anderson and Burkett represented Insite Commercial Real Estate in the transaction.
— Kuehne+Nagel Inc. leased 25K SF at 1001 Woodloch Forest Drive in The Woodlands. Transwestern’s Anderson, Garrett and Burkett represented Clarion Partners in the transaction.
— Stewart Title Guaranty Co. renewed and expanded its 16.7K SF industrial lease at 1221 North Post Oak Road in the Northwest Inner Loop submarket. Transwestern’s Darryl Noon represented the landlord in the transaction.
CONSTRUCTION AND DEVELOPMENT
The Buffalo Bayou Partnership broke ground on Lockwood on Buffalo Bayou, the first phase of a three-phase housing development. Phase 1 will include the construction of a four-story mid-rise multifamily development, according to the city of Houston. It will have 80 units, 90% of which are designated as affordable.
The project is being developed in partnership with Brinshore, a national affordable housing developer.
THIS AND THAT
Greystar’s art-inspired multifamily community The Oliver is pre-leasing. The development is in the Sawyer Yards neighborhood of Houston’s First Ward, where nearly 5,000 artists work in old grain silos and warehouses that have been repurposed as studios. The Oliver is named for Oliver Evans, the creator of the grain elevator.
Michael Hsu Office of Architecture designed The Oliver’s interior, which blends clean lines, the industrial history of the neighborhood and contemporary art. Amenities include a lounge with a skyline view, an outdoor kitchen and grill, and smart home technology, according to a news release.
Floor plans include micro, studio, one-bedroom and two-bedroom units.
