This Week's Houston Deal Sheet
The Fiesta grocery store at 2300 N Shepherd is closing at the end of this month, leaving a plum Inner Loop site potentially available for redevelopment.
The building is nearly 68k SF on four acres in the Heights. Acon Investments acquired the grocery store chain last year while the land is owned by 2ML Real Estate Interests.
EXECS
Weingarten Realty promoted Darren Amato to VP of Acquisitions.
***
Greystar Management Services’ Stacey Hunt, Parkway Properties’ Janetta Key and Phillips 66’s Greg Cardwell were appointed to the Westchase District Board of Directors.
***
Savills Studley hired Noah Kruger as managing director for its Houston office. His specialties are office and industrial.
LEASES
Constitution Chemical signed a new lease with GAI VII Railwood for 36k SF of rail-served distribution space at 9040 Railwood in the Railwood Industrial Park. NAI Partner’s Clay Pritchett repped the tenant, and Stream Realty Partners’ Matteson Hamilton and Jeremy Lumbreras repped the landlord.
***
Communications Test Design leased a 114k SF facility at 6215 West by Northwest Blvd. Lee & Associates’ Mike Spears repped the tenant. CBRE’s Ed Frantz repped the landlord, DCT West by Northwest LP.
SALES
Whitestone REIT sold Brookhill, an office/flex in southeast Houston for $3M. The REIT is planning to sell all of its Houston non-core assets, including Webster Point, Torrey Square Center and Centre South Center, and will focus solely on retail properties.
***
Carriage Point Mango purchased a 27k SF facility at 20221 Carriage Point Dr. Lee & Associates’ Patrick Wolford and Ryan Searle repped the seller—1705163 USA Inc. Mike Whitsell & Associates’ Mike Whitsell repped the buyer.
***
JDFM Telge purchased a 12-acre tract in Cypress. Lee & Associates’ Justin Tunnell repped the buyer. Re/Max Integrity repped the seller, Estate of Charles C. Groschke.
***
PXBE LLC purchased a 3.9-acre tract at 5220 Winfield Rd. Lee & Associates’ Chase Cribbs, Thomas Leger and Robert McGee repped the buyer. Republic Central Realty’s Edward Smith repped the seller—59 Winfield LLC.
Lionshare Property Management purchased 8525 Market St, an 84k SF freestanding office warehouse. Moody Ramblin’s Zack Taylor and Doyle Toups repped the seller. Greatland Living’s Stephen Le repped the buyer.
The purchase of Houston Heights Retail Redevelopment, a 12k SF retail property at 1803 Ella Blvd was arranged by Marcus & Millichap’s Gus Lagos and Evan Altemus, who had the exclusive listing on behalf of the seller—a partnership.
***
La Maison at Lake Cove, a 132-unit Class-B apartment complex in Seabrook, was purchased by an undisclosed entity. Transwestern Houston Multifamily Advisors’ Ed Cummins and Ryan Mendez repped the seller.
FINANCING
Berkadia arranged a $24M loan on behalf of Community Management for the Villas at Cypresswood, a 270-unit apartment complex at 9844 Cypresswood Dr. Jonathan Gilfillan and Cutt Ableson secured the seven-year floating-rate refinancing through Berkadia's Freddie Mac program.
THIS AND THAT
NAI Partners has been awarded the property management assignment for the historic United States National Bank Building at 2201 Market St in Galveston. NAI Partners also provides leasing services for the building.
***
PM Realty Group was awarded a new leasing assignment for 9009 W Loop South. The 419k SF building is owned by Aramco Services Co.
