This Week's Houston Deal Sheet
Retail space has a double meaning at Nassau Bay Town Square, the mixed-use development directly across from NASA's Johnson Space Center. Continuing Houston's retail hot streak, the fully leased 50k SF retail component was sold by JLL's Capital markets team on behalf of Griffin Partners.
An undisclosed buyer purchased the Class-A asset. JLL also secured $12.9M in acquisition financing with Wells Fargo. Managing director George Cushing and SVP Wendy Vandeventer led the JLL team on the sale. Managing directors Jimmy Board and Paul House led the firm’s financing efforts. Nassau Bay Town Square is part of a 660k SF mixed-use development that includes office, multifamily and hotel assets. Tenants of Nassau Bay Town Center include Jimmy Johns, Five Guys, Berkeley Eye Center and Texas Citizens Bank.
LEASES
Houston Methodist leased 20k SF in the League Line Medical Office Building at 4015 I-45 North in Conroe. Transwestern’s Brandy Bellow Spinks and Scott Carter repped The RMR Group, the property’s manager.
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Luxe Moving and Storage leased 6.8k SF of office/warehouse space at 4400 Blalock Road. Jarret Venghaus and Geoff Perrott with JLL repped the landlord. First Houston Properties' Chad Redding and Patrick McKiernan repped the tenant.
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CMKR leased 22k SF office/warehouse space at 2424 Broad St. First Houston Properties’ Jonathan McDaniel represented the landlord, and First Houston Properties’ Patrick McKiernan represented the tenant.
SALES
NAI Partners Chris Caudill and Joel Michael repped Thermon Manufacturing in the disposition of a 42k SF manufacturing warehouse facility at 2810 Mowery in Houston.
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Spirit of Texas Bank acquired the 15k SF PlainsCapital Bank location at 1525 Lake Front Cir in The Woodlands, making this the fifteenth location for the bank. Cypressbrook Co's Kimberly DeVos repped the buyer. The seller was repped by John T. Evans Co's Walker Hairston.
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NAI Partners' Michael Keegan repped Spring Bridge Properties in the purchase of a 15k SF warehouse facility on about two acres in Hardy Industrial Center at 21430 Spring Bridge Drive. Richard Quarles and Mark Nicholas of JLL represented the seller, Vigavi Realty.
