This Week's Houston Deal Sheet

Pelican Builders is progressing on its construction of The Hawthorne, a 17-story, 67-unit condominium building at 5656 San Felipe St., and has opened a model residence.

Designed by Houston-based interior designer Chandos Dodson Epley, the model at The Hawthorne draws inspiration from the treetops throughout Tanglewood and the adjacent villages within which The Hawthorne is situated, according to Pelican Builders. 

The Hawthorne model offers 2,300 SF, including three bedrooms, 3.5 bathrooms, a private terrace and a 182 SF balcony.

The Hawthorne model is available for tours through Douglas Elliman Development Marketing, which exclusively handles sales and marketing for the high-rise. The Hawthorne, which topped out in September 2022, is over 60% sold.

PEOPLE

Houston-based Baker Katz, a full-service commercial real estate brokerage firm, hired Kennedi Vaughan as a broker to support leasing for the firm’s portfolio, specializing in tenant representation.

Vaughan gained real estate experience through internship roles with Brizo Construction and Colliers, where she was responsible for filing and reporting data for market analysis and collaborating with clients and vendors. She graduated magna cum laude from Texas A&M University with a bachelor’s degree in communications in May.

SALES

Partners Real Estate arranged the sale of a 100K SF JCPenney retail building at 23523 Grand Circle Blvd. in Katy. Partners’ Dimitri Jordan represented the buyer in the transaction.

LEASES

Hotline Delivery Systems leased 209K SF at Compass Logistics Center in Houston. Ryan Boozer, Lena Pierce and Tyler Maner with Stream Realty Partners represented the tenant. Brooke Swerdlow and Beau Kaleel with Cushman & Wakefield represented the landlord, Seefried Industrial Properties.

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Newmark Texas announced the following leases:

• NDT Global extended its 59K SF lease at World Houston Business Park at 15500 International Plaza Drive in Houston. Griffin Rich and Joshua Brown represented the tenant, and Insite Realty Partners represented the landlord, Eastgroup Properties.
• High Radius Corp. subleased 65K SF at BMC Software Phase II at 2107 Citywest Blvd. in Houston. Brown, Andy Iversen and Audrey Selber represented the tenant. CBRE represented the landlord, Equior US Operations. 
• Holloman Corp. leased 26K SF at 333 North Belt at 333 North Sam Houston Parkway E in Houston. Brown and Selber represented the tenant. Transwestern represented the landlord, Khoshbin 333 LLC.

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Partners arranged a 12K SF lease for Royston, Rayzor, Vickery & Williams at 1415 Louisiana St. in Houston. Partners’ Griff Bandy and John Zivley represented the tenant in the transaction. The landlord, Wedge Commercial Properties, was represented by Connor Saxe of Cushman & Wakefield.

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Lincoln Property Co. executed the first lease at its Grand Parkway project at 9400 FM 2920. The tenant, United Film Solutions, is taking 23K SF in Building 2. 

SuAnna Sanchez, Robert Willard and Kevin Wyatt with LPC represented the landlord. Joseph Sturek and Patrick McKiernan with First Houston Properties represented United Film Solutions.

The Grand Parkway project has two phases. Phase 1 consists of the construction of Buildings 1 and 2, which are 110K SF and 147K SF, respectively. Phase 2 will develop Building 3 with a 248K SF cross dock.

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Concept Neighborhood, the Houston-based real estate investment, development and management company behind walkable neighborhood The Plant in Second Ward, announced three new leases totaling 12K SF:

• Kido International Preschool and Daycare leased 7,600 SF at 3302 Canal St. Kido’s Second Ward outpost will feature nine classrooms and an outdoor play area.  
• Slowpokes, a café, leased a 2K SF location with an outdoor patio at 3401 Canal St., on the corner of Sampson Street. 
• Crystal Yoga signed a 2,500 SF lease at 201 Roberts St., its first location inside the 610 Loop.

FINANCING

Arriba Capital closed a $52.5M ground-up construction loan for a Holiday Inn Express and Staybridge Suites dual-branded property in Houston’s Central Business District. Houston-based Neway Hospitality is developing the property and will manage it. The loan was sized to 75% loan-to-cost, with a $34.5M senior loan and $18M of Commercial Property Assessed Clean Energy financing.

The property at 1319 Texas Ave. will feature 275 guest rooms with traditional and extended-stay options. Building amenities include an outdoor pool on the fifth floor, meeting space, a full-service bar, a fitness center, a business center, a dining area for complimentary breakfast and an on-site parking garage. The opening of the hotel is expected in the fourth quarter of 2025. 

THIS & THAT

Method Architecture, a Texas-based architecture and interior design firm, acquired David Boggess Architects, a Houston-based firm with commercial design experience. 

Founding principal David Boggess started his business in 1998. His office is best known for the redevelopment of the Hughes Tool site in Houston’s East End and an operations and training center for Weatherford International in San Antonio. 

He sought a succession deal with Method Architecture to help steward the business as he transitions into retirement, according to a news release. Boggess will join Method’s Houston team in its new East River office to aid in the transition period. He will stay on in a strategic role as a member of Method’s new principal advisory council.

He will be the third member of the council, joining Mac Ragsdale and Betty Trent, former owners of Architecture Plus in Austin.

The deal closed July 31. David Boggess Architects will close its Greenway Plaza-area office in September and transition all project materials to Method Architecture’s new space.

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Dallas-based real estate firm Rebees launched a new property management division, Rebees Management Co., which will be based in Houston. Rebees Management Co. will be led by Tom Paterson, managing partner; Shane Cawood, head of operations; and Matt Ragan, head of experience.  

Starting Aug. 1, Rebees Management assumed property management responsibilities for Sugar Land Town Square, which had been managed by Planned Community Developers. In addition to property management, Rebees will be responsible for retail leasing, while PCD principal Don Janssen will be responsible for office leasing.