This Week's Houston Deal Sheet
This week, Linbeck Construction is popping a bottle to celebrate being awarded construction management contracts for three new charter school campuses totaling $30.3M in estimated project cost.
YES Prep is expanding its footprint with two campuses in east and north Houston, each costing about $9M. KIPP Southeast will serve South Houston/Pasadena. The estimated project budget is $12.3M.
DEVELOPMENT
A nearly two-acre prime Memorial Park-adjacent land parcel once slated for townhomes has been re-platted for a mid-rise condo. The project by Sudhoff Cos and Stolz Partners will be named The Sophie at Bayou Bend (above).
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NewQuest Properties is launching a self-storage development group to tap into the fastest-growing market the retail industry has seen in 40 years. NewQuest is planning simultaneous groundbreakings at Brazos Town Center in southwest Houston and Windcliff Town Center in northwest Houston. Ronnie Miranda and David Meyers will be heading up the development team.
EXECS
m Strategic Partners hired Stephen Cheatham as project manager. Stephen served six years in the United States Air Force. He's a U of H grad.
THIS AND THAT
Allied Orion Group was selected to manage Braeswood Plaza, a 66-unit apartment community in the heart of Bellaire near the Texas Medical Center.
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NAI Partners was awarded leasing and property management on behalf of Central United Life Insurance for its 157k SF corporate HQ at 10777 Northwest Fwy.
LEASES
Chaparral Insulation Co leased a newly constructed freestanding 12k SF dock high industrial warehouse (above) in Humble. NAI Partners' John Ferruzzo and Nick Peterson repped landlord Adkisson Development while Cypressbrook's George Montes repped the tenant.
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The Furniture Co renewed 26k SF at 6815 Theall Rd. Betz Commercial repped the landlord, and Palermo REI's Damon Palermo repped the tenant.
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Quest signed a 70k SF build-to-suit lease in Stafford. NAI Partners' Jon Silberman, John Simons and Holden Rushing worked with Quest while Joe Moody repped the landlord.
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Winsupply Houston leased 56k SF on 3.3 acres. The Parker/Littman team at Cushman & Wakefield repped the landlord, Apex Bamboo. CBRE's James Stark repped the tenant.
SALES
XLR Realty purchased a 60k SF rail-served distribution facility (above) on 8.14 acres near IAH. E Smith Realty Partners' Jim Hazard and NAI's Clay Pritchett repped the seller. Patrick McKiernan with First Houston Properties repped the buyer.
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KB Homes purchased 11.3 acres at Perry Road. ARA Newmark's Clark Dalton and Becky Dosch repped the buyer. NAI Partners' John Ferruzzo and Darren O'Conor repped the seller, Telge Trust.
