This Week's Houston Deal Sheet
CBRE completed four office leases totaling 14K SF at POST Houston, a 550K SF multi-use cultural hub in downtown Houston.
Recent office leasing activity includes:
- 1.9K SF to Arcus Advisors, an independent accounting consulting firm.
- 1.6K SF to Xeta, a provider of networking optimization products for the oil and gas industry.
- 2.5K SF to Redfin, an operator of a residential real estate brokerage.
- 8.5K SF to Lovett Industrial, a real estate development and investment company.
CBRE’s Russell Hodges, Parker Duffie and Jenny Sealy represented ownership, Lovett Commercial, in the lease negotiations. Dan Boyles with Partners represented Arcus Advisors. The other tenants were self-represented.
POST Houston, at 401 Franklin St., offers 100K SF of office space featuring large, open floor plates, collaborative workspaces, private offices, conference rooms, and four furnished speculative suites ranging from 1.1K SF to 4.2K SF and designed collaboratively by Common Desk and Corgan. The building has up to 70K SF of contiguous space available.
The building also features 21K SF of coworking space operated by Common Desk.
PEOPLE
Partners Real Estate hired Ken Belden as associate managing director. Belden will be responsible for overseeing Partners’ Associate Brokerage Program as well as new broker orientation and other sales training initiatives.
Belden joined Partners from Stafford Barrett Commercial Brokerage, where he served as director of retail and office brokerage.
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Industry veteran Alan Matuszak has joined the structural engineering practice in Thornton Tomasetti’s Houston office as vice president.
Matuszak, who has more than 20 years of experience in structural analysis and design, is currently assisting clients with projects across Texas and in the southern U.S.
He has a background that includes office and residential towers, educational facilities, houses of worship, retail and mixed-use complexes, and aviation facilities. Prior to joining Thornton Tomasetti, he was a principal with Matrix Structural Engineers.
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Kelie Mayfield will serve as sole owner of MaRS, the design firm she founded 13 years ago.
MaRS is known for hotels, multifamily and corporate offices. The firm’s clients include Hines, Transwestern, McNair Interests, Midway, Crescent, RXR Korman, Patrinely Group, Marriott and W Hotels.
Mayfield partnered with architect Adam Parrish to offer clients a full-service approach to their architectural and interior design projects. Mayfield and Parrish have over 35 years of combined experience.
SALES
Partners Real Estate arranged the sale of a nine-unit multifamily property called Crestdale Homes at 1736 Crestdale Drive in Houston.
Partners’ Alex Aronds and Kamil Patel represented the seller, Crestdale Homes, in the transaction. The buyer was represented by Victoria Luo with Nan and Company Properties.
A private local investor acquired the Shops at Rock Creek, 14119 Grant Road in Cypress, from NewQuest Properties. Andrew Alvis and Marc Peeler of NewQuest Properties represented the seller. Stephen Berchelmann and Alexandria Tatem of Foresite Commercial Real Estate represented the buyer.
The Class-A shopping center is 21K SF with a value-add component, a 33K SF vacant pad site. The 90%-leased center is shadow-anchored by a 90K SF H-E-B grocery store.
LEASES
Lilly Golden of Evergreen Commercial Realty represented Guitar Center in leasing 17K SF at the Woodridge Shopping Center at Interstate 45 N. and Woodlands Parkway in The Woodlands. Katherine Wildman of Wulfe & Co. represented the landlord, DLC Management. This is Guitar Center’s ninth location in greater Houston.
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Zeno Truck Parts leased 12.5K SF at Greenbriar Business Park, 4115 Greenbriar Drive. William Carpenter of Stream Realty Partners represented the landlord, Prologis. Oxford Partners’ Dylan Stiteler represented the tenant, Zeno Truck Parts.
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OnTrac Logistics leased 97K SF at Pinnacle Logistics Park at 11440 Tanyard Creek Drive. Jeremy Lumbreras and Heath Donica of Stream Realty Partners represented the landlord, Hillwood.
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Fashion & Fascinating Merchandise leased 16K SF at Waypoint Business Park at 9411 South Sam Houston Parkway W. Jeremy Lumbreras, Woody Hillyer and Will Mason of Stream Realty Partners represented the landlord, Clarion Partners.
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Lance Dahse Inc. leased 14K SF at Brittmoore Business Park at 4549 Brittmoore Road. Tyler Maner and William Carpenter of Stream Realty Partners represented the landlord, Outour Storage Investments.
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ASA Brands leased 32K SF at Greenbriar Southwest Business Park at 4000 Greenbriar Drive. Jeremy Lumbreras and Boone Smith of Stream Realty Partners represented the landlord, Oxford Properties.
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Heartbreak Industrial leased 27K SF at 4513 Oates Road. Abraham Richardson of Stream Realty Partners represented the landlord, Roadmaster Trucking Holding Co.
CONSTRUCTION & DEVELOPMENT
The Houston Alumni and Youth Center, a nonprofit program of Harris County Resources for Children and Adults to serve foster youth transitioning to adulthood in the Houston community, broke ground on its new 59K SF campus at 3131 Gulf Freeway in Houston.
The HAY Center’s residences will offer 50 efficiency-style apartment units, including kitchens, washers and dryers. Five units will allow for a single parent and one child. The apartments are connected by a community space.
The project was started by Gensler’s summer 2019 intern class. It is expected to be complete by July 2024.
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The Avera Cos., a commercial real estate development, construction and investment firm, broke ground on Kilgore Grand Parkway, a 484K SF cross-dock building in Baytown.
Kilgore Grand Parkway, Avera’s latest project with AEW Capital Management, has direct frontage on Grand Parkway at Kilgore Parkway in the southeast Houston submarket. The project is situated on 33.92 acres at the corner of Kilgore Parkway and Highway 99.
Kilgore Grand Parkway will have a 40-foot clear height, a 185-foot truck court, 60-foot speed bays and 107 dock-high doors, among other features.
Kilgore Grand Parkway is estimated to be delivered in Q2 2024. Kelley Parker with Cushman & Wakefield will handle leasing.
