This Week's Houston Deal Sheet
Meristem Communities broke ground on Indigo Commons, the mixed-use town center and heart of the 235-acre Indigo neighborhood in Fort Bend County. Indigo Commons will feature a variety of small businesses, including specialty food and beverage offerings, boutique shops, neighborhood services, and office and multifamily residential space.
Meristem is providing ownership opportunities for small businesses at Indigo Commons, which empowers local entrepreneurs to grow their businesses, build real estate equity and create a legacy that helps shape the neighborhood.
Small-business owners can choose from a collection of six configurations with a range of appropriately sized square footage plans and storefront options. A seventh custom option is available for businesses that might have a different need.
First-floor spaces in Indigo Commons will be focused on active retail, inviting people to shop, dine and explore. The second and third floors of the buildings will offer a combination of offices or residences, depending on the building location and the needs of the local business owners.
Ten people joined the waitlist to purchase retail spaces at the groundbreaking event this week, per a release.
SALES
Partners Real Estate arranged the sale of a 69K SF industrial portfolio of five buildings at 12839 FM 529 and 6919 Mayard Road in Houston.
Partners’ Cary Latham and Hunter Stockard represented the seller, AMAG Holdings. Blake Deer and Carson Deer of Capital Real Estate Investments represented the buyer, Capital Real Estate Investments.
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Partners Real Estate arranged the sale of a 25K SF industrial property on 6.68 acres at 1302 South Cherry St. in Tomball.
Partners’ Wyatt Huff and Cary Latham represented the seller, Timber Trails Business Park, and also procured the buyer, Harbor Hill Holdings.
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Marcus & Millichap arranged the sale of Purely Portfolio, a seven-property self-storage portfolio across five cities in Southeast Texas. The asset has 2,627 units and 389K net rentable SF.
Dave Knobler and Charles "Chico" LeClaire had the exclusive listing to market the property on behalf of the seller, a California-based LLC. They also secured the buyer, a North Carolina-based LLC.
The Purely Storage Portfolio has locations at 6045 College St. and 210 Interstate 10 S. in Beaumont; 6111 Gulfway Drive in Groves; 2214 Spurlock Road and 2839 Highway 69 N. in Nederland; 110/210 Tenney St. in Bridge City; and 603 Foreman Road in Orange.
LEASES
Sturbridge Commercial Real Estate arranged an 18K SF lease with BioLife Plasma Services as a junior anchor at Beaumont Crossroads Shopping Center at 4436 Dowlen Road in Beaumont. BioLife operates over 200 centers in 37 states.
Jason Gaines of Sturbridge represented the landlord in the leasing transaction, and the tenant was represented by Matt Parsons with JLL.
FINANCING
Northmarq’s Houston debt/equity team of Blane Eikenhorst and Tony Gray closed on the external financing of 8950 Railwood Drive in Houston. The Class-B industrial property is 90K SF and situated on about 4 acres.
Northmarq arranged financing for the borrower through its relationship with Ameritas Investment Partners. The permanent fixed-rate loan was structured on a 10-year term.
Built in 1989, the industrial warehouse consists of roughly 18K SF of office space and 72K SF of industrial space. The property has direct railroad access, 11 exterior docks and clear heights of 21 feet. The single-tenant warehouse is one of many industrial properties in the Northeast Highway 90 submarket.
CONSTRUCTION & DEVELOPMENT
BHW Capital, a Houston-based multifamily developer, completed construction of and began leasing the Park on Napoli, a 239-unit Class-A apartment community off Highway 249 and Cypresswood Drive, near Vintage Park in northwest Harris County.
The complex offers options of one- and two-bedroom units, private yards and electric vehicle charging. Amenities include a pool, cabanas, a dog park, walking trails and private workspaces.
THIS & THAT
The Howard Hughes Corp. opened model homes for The Courtyard Collection by Chesmar Homes in Bridgeland. The Courtyard Collection has 110 homesites in Parkland Village, the second of four villages in Bridgeland, and is home to the popular Dragonfly Park, which spans 25 acres and includes amenities such as a lazy river, leisure pool, fitness center, dog park, kayak launch, hike and bike trails, and a 25-acre lake.
The Courtyard Collection features homes that bring prairie-style architecture to the modern farmhouse. Floor plans offer two to three stories, ranging from 1.5K to 2K SF. The homes are placed around a shared courtyard entry drive accented with decorative pavers. The Courtyard Collection offers seven different floor plans with prices starting from the low $300Ks.
