This Week's Houston Deal Sheet
Howard Hughes Holdings announced plans for a multifamily residential community in The Woodlands Town Center.
Along the waterfront of The Woodlands Waterway, 1 Riva Row will include both a 13-story tower and four-story residential living, with 268 luxury units.
1 Riva Row will offer The Woodlands' first penthouses in a multifamily community, per a release, in addition to ground-level two-story townhomes and studio, one-, two- and three-bedroom units.
The four-story amenity center at 1 Riva Row will include an indoor/outdoor pool deck with cabanas, a fire pit, grills, private dining pods and lounge seating overlooking The Woodlands Waterway. Also planned are an upscale sky lounge terrace with a fire feature for events, a pet park and pet wash station, and coworking space with a mix of conference rooms, private offices and open workspaces.
The two-story fitness center will feature yoga, strength equipment, cardio and barre, along with a bike room offering bike and kayak storage and bike repair.
Howard Hughes broke ground in late August and anticipates completion in the fourth quarter of 2025.
PEOPLE
Cushman & Wakefield hired Robert LaCoure, Jill Nesloney and Bryce Adams, who all join the firm from Lee & Associates. The team will be based in Cushman & Wakefield’s Downtown Houston office in Texas Tower as part of the office agency leasing team.
LaCoure joins as senior director, Nesloney joins as director and Adams joins as an associate.
LaCoure brings more than 15 years of experience in commercial real estate to the firm. He has completed over $1B in transactions throughout his career.
Nesloney also has more than 15 years of experience in commercial real estate. At Lee & Associates, she was responsible for leasing and marketing a 3M SF portfolio of Class-A and Class-B office assets in the greater Houston area.
Adams has three years of experience specializing in office agency leasing.
Although the team will focus on agency leasing, LaCoure and Nesloney bring experience that includes tenant representation and sales transactions.
SALES
Venterra Realty acquired the Avasa Spring Branch multifamily community on Brittmoore Road near the intersection with Interstate 10 in Houston. The 361-unit, three-story multifamily community was built in 2023 and offers one-, two- and three-bedroom mid-rise residences from 613 SF to 1,475 SF.
The apartments feature granite countertops, stainless steel appliances, large soaking tubs and ample closet space. Amenities include two pool areas and a fitness center with a yoga/spin studio.
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3 Real Estate Group, in a joint venture with HG Capital, sold 26.3 acres on League Line Road in Conroe to a nationally recognized multifamily developer for construction of a 400-plus home community.
The property represents one of the last remaining apartment sites that allows for 20 units-per-acre density since Conroe changed its ordinances this year. 3 Real Estate and HG Capital will retain the adjacent 12.7 acres for future development. The sale represents 3 Real Estate’s first private equity exit in the sector.
3 Real Estate is managed by Tommy Le. HG Capital is managed by Spencer Hough and George Giannukos. Dillon Mills with Newmark was the broker on the transaction.
LEASES
Trammell Crow and joint venture partner Clarion Partners fully leased 356K SF at Rankin 45 Distribution Center to two tenants.
Umoja Supply Chain Solutions signed a 176K SF lease and Sungrow USA Corp. signed a 179K SF lease in the building at 13800 North Freeway in Houston. Rankin 45 Distribution Center is less than 2 miles from Houston’s Beltway 8 and spans 22.5 acres within the north Houston industrial submarket.
Designed by Powers Brown Architecture and constructed by A&F General Contractors, the Class-A cross-dock industrial building features a 32-foot clear height, 52-foot column spacing, 259 parking spaces, 23 trailer parking spaces, 60-foot speed bays and four drive-up ramps.
Geoff Perrott and Jeff Venghaus of JLL, along with Matt Knafel with KWILL Advisors, represented Umoja Supply Chain Solutions. Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Sungrow USA. CBRE’s Joseph Smith and Faron Wiley represented the landlord in the respective transactions.
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Partners Real Estate arranged a 12K SF office lease with Guntermann & Drunck at 4540 Kendrick Plaza Drive in Houston.
Guntermann & Drunck is a keyboard, video, mouse manufacturer for control room applications. Partners’ John Zivley represented the tenant in the transaction. The landlord, EastGroup Properties, was represented by Logan Greer with InSite Realty Partners.
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Oxford Partners represented Mohle Adams LLP in the lease renewal of 15K SF at 3900 Essex Lane in Houston. Oxford Partners’ Ryan Hartsell represented the tenant, Mohle Adams. The landlord, Accesso Partners, was represented by Robert LaCoure and Bryce Adams of Lee & Associates.
CONSTRUCTION & DEVELOPMENT
Triten Real Estate Partners, a Houston-based real estate investment, development and operating company, announced the completion of Fairbanks Northwest Distribution Center at 7810 Fairbanks North Houston Road.
The 357K SF Class-A warehouse distribution center has two separate warehouse buildings — 195K SF and 163K SF — with spec office space, drive-in ramps and truck courts. The distribution center is on an infill site and offers immediate access to Highway 290 and Beltway 8.
Jim Foreman and Allison Bergmann of Cushman & Wakefield are representing Triten in leasing.
