This Week's Houston Deal Sheet
Mmmm. Pizza. That's what Houstonians have been saying at MOD Pizza, the fast-casual pioneer in individual artisan-style pizzas. With the help of Transwestern, Mod Pizza is continuing its Houston expansion with 11 new stores, bringing it to 15 in the metro.
Transwestern's Grant Walker and Chris Reyes are repping the restaurant locally, helping it most recently open in Riverpark Shopping Center in Sugar Land, the Market at Crenshaw in Pasadena (pictured), Meadows Marketplace in Katy, the Boardwalk at Towne Lake in Cypress and Kroger Conroe Shopping Center in Conroe. It's also inked leases in six locations that haven't opened yet, at Clear Lake Marketplace in Clear Lake, Indian Springs Shopping Center in The Woodlands, Easton Commons in Copperfield, Westlake Marketplace in Summerwood, Parkway Commons in League City and Fairfield Town Center in Cypress. The stores range from 2,400 to 3,200 SF. MOD Pizza has nearly 150 stores already operating in the US and UK. By the end of the year, the chain plans to open 50 more locations.
LEASES
Sanita Footwear negotiated the extension of a 50k SF industrial lease at Westhollow Distribution Center. JLL’s David Buescher and Travis Secor negotiated for the tenant. Bridge Commercial's Ed Bane and Jon Michael repped the landlord, Colony Capital.
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CBRE’s Elliott Hirshfeld and Rima Soroka repped the landlord, Spus6 Mot, in Cyviz’s 4.6k SF renewal at 555 San Felipe. David Guion and Morgan Relyea of Cushman & Wakefield repped the tenant.
SALES
John O. Harris Ventures sold the Fairmont Central Shopping Center at 4118 Fairmont Pkwy in Pasadena (above), to Fairmont Central. Colliers' Marshall Clinkscales repped the seller, and the buyer was repped by Bill Pyle with Edge Realty Capital Markets and Ray Orazani of Main Realty. Charter Title's Bill Barnett handled the closing.
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Marcus & Millichap's Gus Lagos and Alex Bouchard completed the sale of a 4.3k SF retail property. The buyer was secured by their colleague Jonathan Daum. The asset had a list price of $1M.
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BG Chemical purchased a 15k SF warehouse from Schlumberger Technology for an undisclosed amount. CRC Real Estate’s Stephen Hazen repped the buyer, and Lee & Associates' Justin Tunnell repped the seller.
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Marcus & Millichap’s Gus Lagos and Nik Kapetanakis completed the sale of Plaza Fiesta, a 12k SF retail property in Houston. The buyer was secured by Alex Bouchard. The asset had a list price of $1.8M.
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Marina Gate Shopping Center (18307 South Egret Bay Blvd, Houston), totaling 81.2k SF, has been sold. Martin Turner of Retail Solutions repped the seller.
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TEAM Land Investments purchased a 16k SF multi-tenant flex property (above) at 12710 Century Drive in Stafford. The entire building is now for lease and offers fenced concrete yard space. Lee & Associates’ Taylor Schmidt and Reed Vestal repped the buyer in the off-market transaction.
DEVELOPMENT
Hunington Properties began construction on the Shops at Ten Oaks, a 20k SF retail center developed by Wolff Cos that also will include a freestanding quick-service restaurant. Completion is scheduled for the fourth quarter of 2016.
