This Week's Houston Deal Sheet
Clay Development’s Stafford Business Park is nearing completion, and tenants are snapping up buildings as soon as they deliver.
NAI Partners’ John Ferruzzo and Darren O’Conor have been leasing the park since Clay first started building single-tenant facilities there in 2011. Six buildings have delivered there totaling 89k SF, and all six are spoken for. John and Darren just wrapped up a lease with Lisega in the most recent 15k SF delivery. (Welcome Group’s Ryan Wasaff repped the tenant.) One last building is under construction, a 23k SF facility that’ll be shell complete in July. Darren tells us the last building received four proposals, and the team’s already fielding interest on the upcoming delivery. He says the strong activity is due in part to the lack of small freestanding product in Stafford.
EXECS
Congrats to Transwestern’s Eric Anderson and Justin Leighton, who were named Transwestern’s top 2014 producers in their specialties. Eric was the firm’s top agency leasing broker, and Justin (pictured receiving the award from president of the Americas Chip Clarke) was the top tenant advisory services producer. Seven Houston brokers were named to the firm’s Champion’s Club, which recognizes the top 20 of Transwestern’s 450 national producers. The other recipients were David Baker, Scott Carter, Brian Gammill, Doug Little and Darryl Noon.
SALES
Highway 6 Acquisitions purchased a 59k SF building at 23147 Hwy 6 in Alvin. JLL’s David Buescher, Travis Secor and Leah Miller repped seller E.L. Boyd Enterprises. CBRE’s Jim Stark repped the buyer.
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BioPlanet Corp purchased an 18k SF industrial building at 21110 N Summitry Circle in Katy. NAI Partners’ John Ferruzzo and Chris Kugle repped seller Prime Park Properties, and George E Johnson Properties’ Courtney Johnson Rose repped the buyer.
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An undisclosed buyer purchased the CVS at 15411 Wallisville Rd, a 13k SF property. Baker Katz and Lovett Commercial had owned the asset since ’07.
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Crow Holdings Capital-Real Estate purchased a 27-building portfolio totaling 2.4M SF in DFW and Houston. It was 96% leased at TOS and includes eight Houston facilities in the Northwest and Southwest markets. Those are comprised of 16 buildings topping 1.3M SF. HFF’s Randy Baird, Rusty Tamlyn, Jud Clements, Trent Agnew, Robby Rieke, Stephen Bailey and John Rogers repped the seller, a partnership between Mayfield Properties and AB Real Estate Group.
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An affiliate of Lexington Realty Trust purchased (and leased back for 20 years) two properties totaling 450k SF of Houston industrial space that’s 100% occupied by Spitzer Industries. The assets include the Waterfront Deck property (six buildings totaling 188k SF at 13863 Industrial Rd, pictured) and the Brookshire Horizon facility (one 263k SF building at 7007 FM 362 in Brookshire). HFF’s Trent Agnew, Coler Yoakam, Scott Galloway, Mark West and Campbell Black repped Spitzer Industries/Stephens Group.
LEASES
AWS renewed and expanded to 56k SF at 350 W 38th St. NAI Partners’ Nick Peterson repped the tenant, and Stream’s Jeremy Lumbreras repped landlord Agellan Capital.
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Woodlands Recycle Group leased 17k SF at 7809 Marker St. NAI Partners’ Darren O’Conor repped the landlord, Glen Snider, and First Houston Properties’ Jonathan McDaniel repped the tenant.
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Carrier Enterprise renewed 14k SF at Beltway 8 Business Park. Stream’s Matteson Hamilton and Jeremy Lumbreras repped landlord DRA Advisors.
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Colonnade Group leased 13k SF at Griggs Industrial Park. Stream’s Jeremy Lumbreras and Blake Warren repped landlord Stockbridge, and CBRE’s Jeff Everist repped the tenant.
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HDI Instruments leased 10k SF at Brookhollow Business Center. Stream’s Michael Flowers repped landlord DRA Advisors, and JLM Commercial Advisors’ Mary Jo Giammalva repped the tenant.
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American Cancer Society leased 15k SF at 2500 Fondren (Piney Point Offices). NAI Partners’ Sam Hansen repped landlord Noex Management, and CBRE’s Rich Pancioli and John Dolan repped the tenant.
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Sulzer Pumps renewed 34k SF of manufacturing space at 101 Old Underwood Rd. Cushman & Wakefield’s Kelley Parker, John Littman, Coe Parker and Tim Thomas repped landlord Houston Associates of California.
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GobiiDirect leased 15k SF at 4647 Pine Timbers. SRA’s Steven O’Connor and Marc Drumwright repped the tenant, and NAI Partners’ Jon Michael and Ed Bane repped landlord IP6 West/Southwest.
DEVELOPMENT
Avanti Senior Living broke ground on Avanti at Vision Park, a 77k SF assisted living and memory care community in Shenandoah. It’s the firm’s second facility in the Houston area. The $17M community will serve at least 90 seniors. Avanti at Vision Park is close to Memorial Hermann’s The Woodlands Hospital, St. Luke’s The Woodlands Hospital and St. Luke’s Lakeside Hospital.
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Carson Cos broke ground on a 366k SF cross-dock warehouse/distribution facility in Bayport Industrial Park. It will have easy access to Barbour’s Cut and Bayport container terminals. The property features 30-foot clear heights and is divisible to 46k SF. Seeberger Architecture handled design, and Slate Construction is GC. It’s scheduled to deliver in November.
FINANCING
Q10 KDH’s Matt Franke and Travis Fite arranged $8M in financing for three industrial properties in Houston and Deer Park. The conduit lender provided 10/30 term, non-recourse money with an interest rate slightly above 4%.
