This Week's Houston Deal Sheet
Caldwell's Boardwalk at Towne Lake has signed its first office tenant.
Texas Children's Pediatrics will open on the top floor of one of the four Boardwalk buildings. It's relocating from its North Cypress location; Caldwell says this provides a more centralized location for its patients. According to the Houston Business Journal, Caldwell has also signed a slew of retail tenants: Mod Pizza, World of Beer, Jaxton's, Taisho, Land of a Thousand Hills, Orangetheory Fitness, Nails of America, Reserve Salon and Spa, Massage Heights and Copper Creek Orthodontics. The waterfront mixed-use project includes 40k SF of office and 60k SF of retail.
EXECS
Larry Lewis joined Cushman & Wakefield’s valuation and advisory group as a managing director. He’ll work with directors Sonia Horton and Linda Le. Cushman & Wakefield is expanding its diligence and advisory service line throughout the country.
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Ian Boyd joined the Signorelli Co as president of land development. He has 15 years of experience with an emphasis on master planned community development and land acquisition. He has previously worked for Lennar, Kimball Hill, ASA Properties and Newland Communities.
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Kitchell promoted two execs and expanded into Houston. Steve Whitworth was named director of the Texas region, and Chris Kirch was promoted to senior project manager.
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John Ginder joined Caldwell Cos as AVP of industrial brokerage. The firm also hired two new associates, Nick Terry and Brad McGuire.
SALES
An undisclosed buyer purchased 2 acres at Beltway 8 and Old Humble Road. Caldwell’s Keith Edwards repped the seller, and Caldwell’s Daniel Greco repped the buyer.
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HISD bought a 28k SF industrial property at 1707 Velasco. Boyd Commercial/CORFAC’s David Munson and David Boyd repped the seller, Amber Terrell.
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Electro Technical Industries purchased a 113k SF industrial warehouse and manufacturing facility at 303 Little York. Boyd Commercial’s Greg Barra and David Boyd repped the seller, EJ Keith Commercial Properties. NAI Partners’ Chris Caudill repped the buyer.
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DDB Properties purchased 3.2 acres at 9977 Gulf Fwy. NAI Partners’ John Ferruzzo and Darren O’Conor repped seller CMH Homes. Sanuk Holdings’ Bo Price repped the buyer.
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Casa Solace Memory Care purchased 6 acres in Clearpoint Crossing on Space Center Boulevard. The developer plans to build 48 senior housing units. Next door, another medical user is negotiating on 7 to 15 acres.
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Regis Property Management purchased 770 S Post Oak, a 95k SF Class-B office building. The acquisition is its entry into Houston.
LEASES
Smart Sensors leased 18k SF of industrial space at 5175 Ashley Ct. NAI Partners’ Chris Kugle repped the tenant, and colleague John Ferruzzo repped landlord Marwell Properties.
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RigNet renewed and expanded to 44k SF at Ashford Crossing II. Moody Rambin’s Terri Torregrossa repped landlord KWI Ashford Westchase Buildings. Cushman & Wakefield’s Joe Peddie repped the tenant.
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Masters Distribution Systems renewed 12k SF at 1430 N Post Oak. NAI Partners’ John Ferruzzo repped the tenant, and Prologis’ Kevin Wittler repped the landlord.
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Torocon Services leased a 21k SF single-tenant facility at 1366 E Richey Rd. TNRG’s Chase Cribbs and Mike Spears repped the tenant. Northwinds Commercial Realty’s Jon Lindenberger repped landlord TurnKey Building & Design.
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Hackbarth Delivery Services renewed 15k SF of industrial space at 1990 Afton Rd. NAI Partners’ Ed Bane and Jon Michael repped landlord GLP, and Moody Rambin’s Jim Autenreith repped the tenant.
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Asset Value Management renewed 16k SF at 4647 Pines Timbers. NAI Partners’ Nick Peterson repped the tenant; colleagues Ed Bane and Jon Michael repped landlord GLP.
DEVELOPMENT
A 3.7-acre tract along League City Parkway at Tuscan Lakes Boulevard is being developed into a 29k SF Class-A office and retail building. The developer is the owner of Re/Max Space Center, which will be a co-anchor tenant. It will open by the end of Q2 ’16.
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The owners of 130 acres at 3801 FM 528 near Bay Area Boulevard in Friendswood are seeking a commercial developer to build retail and hospitality, office, MOB and/or a movie theater.
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The Welcome Group is building a 15k SF tilt-wall crane-ready building at Bayport North Industrial Park. It will deliver in January.
FINANCING
HFF’s Matt Kafka arranged $38M in development financing for Cappella Museum District, a 224-unit luxury apartment project. Tema Development is the borrower/developer. HFF placed the construction permanent loan with AXA Equitable Life Insurance Co through its adviser, Quadrant Real Estate Advisors. Cappella Museum District will deliver in late 2016.
