This Week's Houston Deal Sheet: Stephens Expands Greenway Plaza Lease
Stephens Insurance renewed and expanded its lease at 9 Greenway Plaza in Houston.
The privately owned insurance brokerage and its affiliated entities Stephens Inc. and Stephens Investment Management Group have increased office space to 35K SF, with plans to occupy a full floor and a half.
JLL’s Don King and Anya Marmuscak represented the tenant. Parkway Properties’ J.P. Hutcheson and Amanda Nebel represented the landlord.
“I'm excited to announce that Stephens will maintain its Houston headquarters at Greenway Plaza — a location that approximately 50 employees call home,” Stephens Insurance President and CEO Miles Stephens said in a release.
The 31-story office tower is 5 miles southwest of Downtown within the 60-acre Greenway Plaza development.
PEOPLE
Texas Real Estate Research Center at Texas A&M Executive Director Gary Maler selected Pamela Canon to assume the center's top leadership role effective Nov. 1. Canon most recently served as the center’s director of operations.
Maler, who has been executive director of the center since 2005, will assume the new title of director of strategic initiatives, focusing primarily on developing a progressive new concept to expand the center’s knowledge share in local and regional Texas communities.
“Pamela has been instrumental in guiding us through a period of change and transition the past few years,” Maler said in a news release. “Her highly effective organizational skills and forward-thinking approach to leadership are what the Center needs to best serve a rapidly growing and changing state like Texas.”
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Stream Realty Partners hired Cary Latham to the firm’s industrial capital markets business team. Latham joins Stream as a vice president in the Houston office.
For the past three years, Latham worked at Partners, most recently as a senior vice president in the Texas investment sales division. He specialized in the acquisition and disposition of single-tenant and multitenant office and industrial assets within the Houston market. Prior to that, he was with Marcus & Millichap for two years, working in industrial investment sales.
A fifth-generation Houstonian, Latham is active in the community, including volunteering for and supporting Sky High for Kids, a Houston-based childhood cancer advocacy group.
SALES
Marcus & Millichap arranged the sale of Santa Fe Storage Portfolio, a 97K net rentable SF storage portfolio with four locations across Santa Fe, Texas.
Dave Knobler and Chico LeClaire had the exclusive listing to market the property on behalf of the seller, a Texas-based limited liability company. The buyer, a Delaware limited liability company, was also secured by Knobler and LeClaire.
The Santa Fe Storage Portfolio properties sit on a combined 4.35 acres and include 17 single-story buildings and one two-story office residence. It offers a total of 682 rentable spaces, made up of 654 nonclimate units, 24 outdoor parking spaces, two small office spaces, a billboard and an efficiency apartment. All the properties have entrance gates with digital keypad access.
LEASE
Paramount Transportation Systems Inc. extended its 64.5K SF industrial lease at World Houston International Business Center Building 11 in Houston. Newmark’s Jay Magness, Joshua Brown and Kaitlyn Duffie represented the tenant. InSite Realty Partners represented the landlord, EastGroup Properties.
CONSTRUCTION & DEVELOPMENT
XSpace Group is planning to construct XSpace The Woodlands on a property near the intersection of Six Pines and Lake Woodlands drives in The Woodlands Town Center.
The property will include spaces for purchase that can be customized by entrepreneurs, collectors and hobbyists for purposes such as storage, offices, showrooms or personal use.
XSpace The Woodlands will be designed by architect Francisco González-Pulido of FGP Atelier. The project is a joint venture between XSpace and Howard Hughes, developer of The Woodlands.
XSpace has locations in Austin and plans to break ground on an additional Houston project in Houston’s Design Center at 7022 Old Katy Road.
