This Week's Houston Deal Sheet
The area around Lake Houston continues to grow. Following the announcement of a new master planned community, Sundance Cove, Baker Katz started a new retail development.
Baker Katz broke ground on two buildings totaling 33k SF on 4.5 acres near FM 1960 and West Lake Houston Parkway in Atascocita. The area along Lake Houston is experiencing high tenant demand. Verizon Wireless is set to join the tenant mix in a 4k SF building.
SALES
Northwinds Commercial Realty announced the $7.6M sale of 1720 North Sam Houston Pkwy to an undisclosed buyer, which was repped by Caldwell Cos' Bill Ginder and Keith Edwards.
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3TH purchased a 12K SF facility from MBT Inc at 11410 Brittmoore Park Dr in Northwest Houston.
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An undisclosed buyer purchased a 160k SF warehouse at 1120 Lockwood Dr on Houston's growing east side. Cushman & Wakefield's Littman/Parker team repped seller the Lockwood Group.
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Marcus and Millichap’s Juan Cuevas and Lucas Fertitta sold a 16-unit apartment building in Pasadena. The small asset had a list price of $1.2M.
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An undisclosed buyer purchased 4610 Brittmoore Rd, a 60k SF office/warehouse property. Moody Rambin’s Jim Autenreith and Dan Nguyen repped the seller, and First Houston Properties' Patrick McKiernan repped the buyer.
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An undisclosed buyer purchased 1.67 acres of commercial land on Bammel North Houston Road. Cushman & Wakefield's Parker/Litman team repped the seller, and Keller Williams Pearland's David Rodrigues repped the buyer.
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Outside investors continue to favor Houston, as Florida-based firm ELHR Investment and Robbins Property Associates teamed up to acquire the Fountains at Katy from JRK Property Holdings. The venture secured a $25.4M loan to acquire the 316-unit community.
LEASES
Retail giant Marshalls leased 22k SF in the Westlake Marketplace at Beltway 8 and West Lake Houston Parkway in Humble.
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Colliers International repped Alegacy Development in the lease of a 34k SF office facility at 1500 Alegacy Place in Alegacy Park, a heavy manufacturing development in Waller.
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Delta General Agency penned a 13k SF renewal at Loop Central II. The corporation has been in business since 1959.
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Houston Processing Welding leased 14k SF of manufacturing space at 6611 Lindberg in Southeast Houston. NAI Partners' Wade Carter and Chris Caudill repped landlord R Pennington.
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JLL's Mark Raines and Matt Parsons completed a variety of restaurant deals:
- 1000 Degrees Pizza signed three new leases totaling 8k SF.
- Pollo Campero signed two new leases totaling 4k SF.
- Schlotzsky’s signed a new 2,700 SF lease.
- Mama Fu’s Asian House signed two new leases totaling 4,500 SF.
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KBS Strategic Opportunity REIT signed nine leases totaling 60k SF at West Loop I & II. The Class-A buildings will welcome new tenants in the medical and financial industries.
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Point2Point Crowded House Moving & Storage leased 31k SF of warehouse space at 527 West 38th St. NAI Partners' Chris Caudill repped the tenant. Point2Point and Crowded House merged in 2012, doubling their SF needs.
DEVELOPMENT
Vigavi broke ground on a 31k SF build-to-suit for Tidal Tank at Thompson Ten Business Park in booming Baytown. JLL’s SVP Richard Quarles repped the landlord while NAI Partners' Jason Whittington repped the tenant.
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Westchase District will break ground next Tuesday on the Brays Bayou Connector Trail (BBCT), a new 1.92-mile trail that will run south from Richmond Avenue to Bellaire Boulevard. The trail will feature many underpasses, allowing users to enjoy it entirely off-street.
