This Week's Houston Deal Sheet

Alexandria Real Estate Equities officially opened its $112M life sciences campus known as the Alexandria Center for Advanced Technologies at The Woodlands. 

The campus’s first building is a 123K SF redevelopment project anchored by Nurix Therapeutics, a San Francisco-based biopharmaceutical company that will occupy 46K SF. 

“We have had an outstanding strategic relationship with Alexandria since 2014 and approached them to support our expansion to Texas,” Nurix President and CEO Dr. Arthur Sands said in a statement. “The Woodlands offers us a business-friendly, entrepreneurial environment that is critical to our growth.”

The campus provides Nurix with modern laboratory space and amenities key to attracting and retaining talent, Sands said. Campus amenities include conference and event space, a courtyard and event lawn, a wellness and fitness center, and pickleball courts.

Nurix may hire more than 100 people to work at the campus at 8800 Technology Forest Place, which is the former Lexicon Pharmaceuticals campus, the Houston Chronicle reported. 

Phase 1 of the Alexandria Center for Advanced Technologies at The Woodlands was delivered in June 2023. The campus has about 322K SF of rentable potential.

PEOPLE

Stream Realty Partners hired Thomas Erwin as a vice president in the Houston office to help accommodate users with heavy manufacturing needs throughout the region. 

Erwin will be responsible for industrial tenant representation and transaction management. Erwin will work with Managing Director Tyler Maner to expand the company’s industrial services platform across the Houston market, specifically in the port sector.

Erwin comes to Stream from Moody Rambin, where he spent the last four years as a member of the industrial and investment services team.

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Partners Real Estate hired Matthew Steitz as its first chief financial officer. Steitz will be responsible for driving Partners’ financial strategy and managing financial operations.

Prior to joining Partners, Steitz spent six years at Conquest Completion Services LLC, where he served as vice president of finance, among other roles. He holds a master of business administration degree with a finance concentration from Rice University. 

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Rockefeller Group hired Philip Croker as a senior managing director to head the company’s new Southwest region from Houston. Croker will be responsible for Rockefeller Group’s real estate acquisitions, new developments and operations in the Southwest, specifically Texas and Arizona. Texas is a new market for the company, but Rockefeller Group has been active in Arizona for 15 years.

Before joining Rockefeller Group, Croker was a senior managing director with Hines, where he worked since 2005. There, he contributed to the development of more than 5M SF of office space, including projects BG Group Place, the Hilcorp Headquarters, 609 Main at Texas and Texas Tower.

SALES

Real estate development and brokerage firm NewQuest Properties announced the following sales:

• Sanor Properties LLC bought 189 acres at 20473 FM 787 W in Cleveland, Texas, from Black Dog Land and Cattle LLC. Marc Peeler of NewQuest Properties represented the seller. Anastacio Sanchez of SIS Group represented the buyer.
• Cy-Fair Center LLC acquired a 9K SF retail building at 13621 Skinner Road in Cypress from NewQuest Properties. Peeler, Dakota Workman, Rick Ragan, Thomas Turner and Davis Sheffield of NewQuest Properties represented the seller in the direct deal.
• Y&K Real Estate acquired 3.4 acres at 3430 Rogerdale Road in Houston from Foresteen Miller Core 2012 Trust. Workman represented the buyer. Alex Makris and Hunter Stockard of Partners Real Estate represented the seller.
• Shaukat Sunesara acquired 2.9 acres at 7710 TX 146 in Baytown from Genoa Way Mobile Home Park LLC. Brad LyBrand and Neal Thomson of NewQuest Properties represented the seller. Daniel Henn of Zann Commercial represented the buyer.
• Shan Ali Investment LLC acquired 2 acres at the intersection of FM 529 and Hillsdale Creek Drive in Houston from HSC FM 529 LP. LyBrand and Glenn Dickerson of NewQuest Properties represented the seller. Mayur Shah of Haus Brokerage represented the buyer.

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A joint venture of NewcrestImage, Dabu Group and Preeminent Hotels acquired two Marriott-branded hotels in The Woodlands. The properties, a 90-room Courtyard and a 90-suite Residence Inn, will be renovated starting next year and stay open during the renovations.

Amenities at the Courtyard include an on-site restaurant, Starbucks, business center, fitness center and indoor pool. The Residence Inn features suites with kitchens and an indoor pool, gym, tennis courts and grills.

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Griffin Partners announced that its Griffin Partners Income & Value Fund IV acquired 9 acres for the development of Carter Crossing on Greensmark Drive in Houston. 

The speculative Class-A industrial development will total 137K SF and is scheduled to be completed in late 2024. It is expected to feature a 32-foot clear height, multiple entry and exit points, a 130-foot truck court, electrical systems and office build-outs.

LEASES

Groninger Cleaning Systems signed a lease renewal and expansion of 14K SF at 16802 and 16810 Barker Springs Road in Houston. Oxford Partners’ Ryley Caton represented the tenant. The landlord, BPREP Park 10 LLC, was represented by Carter Holmes of Cushman & Wakefield.

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Weaver, a national accounting firm, signed an 11K SF lease for new space in One Hughes Landing at 1800 Hughes Landing Blvd. in The Woodlands.

Citadel Partners’ Scott Morse and Katherine Jessen represented Weaver in the transaction. Colliers’ Jillian Fredericks and Norm Munoz represented the landlord, Howard Hughes.

The company will relocate from its office in Conroe at 1406 Wilson Road. The new office is under construction, and Weaver is expected to move in Dec. 1. 

Weaver is working with architecture firm Corgan, Endurance Builders as the general contractor and Gauge Real Estate Partners as the project manager for the renovations. 

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Amazon leased about 13 acres at Riggy’s West 10, an outdoor truck parking and storage lot at 30229 U.S. Highway 90 in Brookshire. DryPort, a Houston-based real estate and logistics company, completed the 15-acre lot this week.

Harvey Builders was the general contractor, and Ben Sims with Kimley-Horn designed the project.

Judd Harrison and Peter Billipp of KBC Advisors represented Amazon. Jim Autenreith and Sam Rayburn of Moody Rambin represented DryPort.

The remaining 20 spots will be used for short-term parking rentals, according to DryPort. 

CONSTRUCTION AND DEVELOPMENT

Marquette Cos. broke ground on The Sylvan, a build-to-rent community that will have 188 single-family homes and townhomes and 112 apartments with attached private garages in The Woodlands. 

The single-family homes will come in three- or four-bedroom floor plans ranging from 1,495 SF to 1,805 SF with private yards and garages. Townhomes will have two- or three-bedroom floor plans ranging from 1,456 SF to 1,581 SF with attached garages and private outdoor space.

The multifamily component will offer one-, two- and three-bedroom units ranging from 650 SF to 1,574 SF. 

Community amenities include a clubhouse, pool, fitness center, cold plunge pool and spa with a sauna.

Marquette worked with design firm Kahler Slater, Montgomery County arborists and the city of Houston to create a plan that preserves the natural landscape. The preservation effort, which is expected to cost upward of $1.5M, will preserve trees such as white oaks, elms, pines and water oaks. Three live oaks over 100 years old will be the centerpiece of some of Sylvan’s communal amenities, which include seating areas, fire pits, fountains and dining spaces with outdoor smokers.

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Gauge Real Estate Partners commenced construction on Gauge Interwood Logistics, a standalone Class-A industrial building slated for completion in the first quarter.

The 96K SF rear-load facility is in Interwood Business Park, south of George Bush Intercontinental Airport along JFK Boulevard. It will sit on about 7 acres, the last developable tract within the 440-acre park. The building is designed with a 32-foot clear height, a 180-foot truck court, 19 trailer parking positions and 11 dock-high doors.

Jason Dillee and Nathan Wynne of CBRE will handle leasing and sales brokerage services. Powers Brown Architecture led the design, and Rosenberger Construction is handling the construction. 

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Graycor completed the interior and exterior renovations of two Dick’s House of Sport and Golf Galaxy locations in Baybrook and Katy. Each newly renovated Dick’s House of Sport totals about 100K SF.

The House of Sport store concept has in-store experiences including a climbing wall and multisport cage, while Golf Galaxy features golf simulation hitting bays and a putting green. 

Graycor Construction Co. was the general contractor, and Fox Design Group was the architect for the two projects.

THIS AND THAT

Cemex is providing more than 200,000 cubic yards of Vertua lower-carbon concrete for Houston Methodist’s Centennial Tower, the 26-story hospital building expected to begin a phased opening in 2027. The building in the Texas Medical Center will house a new emergency department, imaging services and space for additional hospital beds. Cemex is contributing building materials, including lower-carbon concrete, during the early project stages, having already placed 11,000 cubic yards for the tower’s foundation.  

Cemex worked with contractor Vaughn Construction to solve the logistical problem of pouring concrete for 20 continuous hours in the middle of the busy medical center.