This Week's Houston Deal Sheet

Native Galvestonian Manny Mehos plans to develop Roseate Beach, an upscale master-planned residential community occupying some of the last prime real estate on Galveston Island.

Roseate Beach is a short distance from Galveston Country Club and boasts beachfront access expanded by the continuation of the Galveston Island Beach Nourishment Project. 

The development will offer 172 homesites, including 22 beachfront lots. The project will be developed in two phases, with Phase 1 slated to break ground in late fall 2023.

Carbo Landscape Architecture is the community’s master planner. Each resident will have direct access to the extensive greenway network from their home and can walk or bike to any destination within the community.

The use of simple building forms will allow nature to take center stage, according to Chris Janson, architect and principal at LRK, the architectural, planning and interior design firm on the project.

PEOPLE

Allison Allen has been named chief human resources officer at Transwestern. She will be charged with crafting and executing a human capital strategy that aligns workforce management with Transwestern’s overarching business objectives for its five integrated companies.

Allen joins Transwestern from Orchard Global, where she served as the asset management firm’s chief human resources officer. She spent 19 years with Ernst & Young, assuming roles of increasing responsibility.

Allen succeeds Colleen Dolan, who joined Transwestern in 2000 and is retiring after a 43-year career in human resources leadership.

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CBRE promoted Michael Yu to vice chairman, the highest title for producers at the company. Yu began his career in the hospitality industry in the early 1990s and transitioned to hotel investment brokerage services in 2003. He joined CBRE in 2016 and has since been involved with more than $3B in hospitality real estate transactions.

Yu leads the CBRE Hotels South Central U.S. team. The 12-person team transacts nationwide across the private and institutional client space for all types of hospitality investment products. In the last three years, Yu and his team have executed more than 200 transactions.

SALES

Dave Knobler of Marcus & Millichap’s Houston office marketed the properties on behalf of sellers for the following storage facilities:

• A private investor sold Sugar Land RV/Boat and Self Storage, a 96K SF facility at 14211 West Bellfort Blvd. in Sugar Land. The buyer, a New York-based LLC, was secured by Knobler. The property sits on 6 acres and was constructed in 1999. It has eight single-story buildings consisting of 304 drive-up, nonclimatized units, one larger warehouse/workshop space, eight covered parking spots and six outdoor parking spaces.
• A local limited partnership sold Blue Water Self Storage, a 56K SF facility at 1932 FM 523 in Freeport. Knobler also secured and represented the buyer, a New York-based LLC. The property sits on about 8 acres, was constructed in 1999 and has seven single-story buildings consisting of 295 units. 
• A private investor sold Holliday RV and Boat Storage, a 74K SF facility at 17818 and 17819 French Road in Houston. Knobler secured the buyer, a Texas-based LLC. The property sits on two parcels that encompass 5 acres and was constructed in three phases between 1990 and 1994. Holliday RV and Boat Storage has nine single-story buildings consisting of 243 drive-up, nonclimatized units and 49 outdoor parking spaces. 
• Knobler and Charles “Chico” LeClaire had the exclusive listing to market AA Storage at Ruland Road, a 50K SF facility in Spring Valley Village, on behalf of the seller. They also secured the buyer. The property is on 2.3 acres with five metal-framed, single-story buildings consisting of 112 climate-controlled units, 143 drive-up, nonclimatized units and seven office spaces. The facility was originally built in 1971 but has gone through various renovations.
• Knobler and LeClaire marketed Texas Boat & Self Storage, a 54K SF facility in La Marque, on behalf of the seller. They also secured the buyer. The property was built in 2010 and sits on about 4 acres. It has 179 units. 

LEASES

Design firm South Winstone signed a 17K SF lease at 640 West Sixth St. in the White Oak Station in Houston. Ed Ayres of Houston Realty Advisors represented the tenant. Ori Batagower with The Deal Co. represented the broker. 

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Spec Building Materials leased 50K SF at 16950 North Freeway. Tyler Maner, Garret Geaconne and Abraham Richardson of Stream Realty Partners represented the landlord, Dalfen Industrial.

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Whitco Supply leased 32K SF at West by Northwest Business Park at 6300 West by Northwest Blvd. Conrad Chambers, Andrew Brod, Brendan Zrowka and Lauren Pesqueda of Whitebox Real Estate represented the tenant. Jeremy Lumbreras and Boone Smith of Stream Realty Partners represented the landlord, Harvest C Houston WNW.

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Accesso, an investment manager and operator of multitenant office and multifamily assets, has overseen nearly 60K SF in lease agreements during the first five months of the year, including these deals:

• IHI Energy Solutions, a carbon reduction technologies company, signed a new 18K SF lease to relocate its corporate headquarters to Atrium at Park Ten, a 140K SF office property at 16340 Park Ten Plaza.
• Petrofac, an energy services company, signed a 16K SF expansion of its existing space, bringing its total footprint at the property to 26K SF. With these new signings, Atrium at Park Ten is now 98% occupied.
• Buffalo Bayou Resources, a company advising clients on mineral rights acquisitions, renewed its 10K SF lease at 3900 Essex, a 236K SF office tower at 3900 Essex Lane. 
• KDDI America’s Houston branch signed a 3,300 SF lease at 3900 Essex.
• RBN Energy, an energy market analytics firm, signed a 4,300 SF lease at 3900 Essex. 

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Harmony Commons shopping center in Spring is 100% leased following a 1K SF lease by R&B Tea. Shawn Ackerman of Henry S. Miller secured the space.

FINANCE

Houston-based SimplyHome, an operator of new single-family rental homes, secured a $225M credit facility to refinance an initial portfolio of properties in Houston, Dallas-Fort Worth, San Antonio and Bryan-College Station. 

JLL Capital Markets arranged financing to secure the bridge facility through Churchill Real Estate Holdings.

SimplyHome was represented by Colleen Castroman, Chris Cassidy, Mitchell Brandt and Kafah Bachari. 

THIS & THAT

Life Time celebrated the opening of its 12th Houston-area location with a ribbon-cutting ceremony Friday. The 124K SF Life Time Sienna is at 8421 Highway 6 in Missouri City.

The athletic club features dedicated studios for barre, cycling, group fitness, Pilates and yoga; seven pickleball courts; a LifeSpa full-service salon and spa; a Kids Academy with programming; fast-casual LifeCafe restaurant; and an outdoor beach club with leisure and six-lane lap pools, water slides and a poolside bistro.

The location is expected to create 250 jobs.