This Week's Houston Deal Sheet
McCord Development and San Jacinto College are planning to build a biotechnology center in Generation Park.
The San Jacinto Biotechnology Center will provide training programs licensed by the National Institute of Bioprocessing Research and Training, according to a news release. The center will take a 15K SF space in a 60K SF building McCord is developing, and operate there for three to five years, pending longer-term decisions, the Houston Chronicle reported.
Developers say the center will train local workforce and help attract life sciences companies from across the country. It will offer students hands-on experience in a pilot-scale bioprocessing center that includes upstream, downstream and fill-finish facilities, as well as specific curriculum in cell and gene therapy, the news release states.
"San Jacinto College’s Biotechnology Center at Generation Park is the catalyst our region needs to fill the gap in our existing life science ecosystem and accelerate biomanufacturing in Houston,” McCord Development President Ryan McCord said in the release.
SALES
Platinum Finance acquired 11 acres at the intersection of Cypresswood Drive and James C. Leo Drive in Spring from NewQuest Properties. John Nguyen of NewQuest Properties represented the seller in the direct deal.
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Quick N Clean car wash acquired 1.25 acres near FM 1960 and Lee Road in Humble from AZ Global Business Solutions. Nick Ramsey of NewQuest Properties represented the buyer. Bill Farris of Paradigm Commercial Real Estate represented the seller.
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Welcome Land Development bought 38K SF of office/warehouse space on 7.7 acres at 1650 North Sam Houston Parkway E. Transwestern’s John Ferruzzo and Nick Peterson along with Ryan Wasaff from Welcome Group represented the buyer. Colliers represented the seller, New Bremen Investments.
LEASES
Salad and Go leased a 31K SF space from NewQuest Properties in Marketplace at Ninety-Six at League City Parkway and Hobbs Road in League City. Rebecca Le and Heather Nguyen of NewQuest Properties represented the landlord. Traci Holman of Baker Katz represented the tenant.
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Florida-based American Wire Group leased a 205K SF facility in Katy to expand its manufacturing and distribution capabilities.
AWG, which specializes in wire, cable and accessories for utility and renewable energy applications, is headquartered in Miami and has operations in the Northeast and on the West Coast.
AWG chose Harris County for its new facility because of its labor pool and central location, according to Whitebox Real Estate, which negotiated the lease for AWG. The company plans to bring 30 to 50 new jobs to Katy within three years.
The building is at 29921 Medline Lane in Katy. Andrew Brod and Grant Pruitt of Whitebox Real Estate represented AWG in their lease negotiations.
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Nike renewed its 13K SF lease of office space at LaCenterra at Cinco Ranch in Katy. Transwestern’s Louann Pereira represented the landlord, PGIM, in the transaction.
THIS AND THAT
Hartman Short Term Income Properties XX, a publicly registered nontraded real estate investment trust headquartered in Houston, changed its name to Silver Star Properties REIT. CEO Mark Torok said the company is expanding its investment asset classes to include self-storage facilities and is considering a strategic disposition plan of its current properties, according to a news release. This will pivot the company away from primarily being an office REIT.
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Aspire Post Oak, a luxury high-rise on Post Oak Boulevard, received national and statewide residential real estate awards this year, The Dinerstein Cos. announced. These include the Multifamily Executive Magazine awards for top high-rise property in the country and top marketing and branding campaign in the country, as well as the Houston Apartment Association Honors award for best new development in Houston.
The Galleria-area apartment has 383 residences throughout 40 stories and 50K SF.
