This Week's Houston Deal Sheet
Despite the holiday, many still managed to get deals done. Boxer Property made its debut in The Woodlands with an agreement to lease 20k SF at 10210 Grogans Mill Road.
The three-story boutique office on beautifully landscaped grounds brings Boxer's Houston portfolio to over 6.4M SF. Stephen Kradjian, who heads up the Asset Management group at Boxer Property, negotiated the agreement. The property, on the corner of Woodlands Parkway and Grogans Mill, is minutes from the Cynthia Woods Mitchell Pavilion, Market Street and The Waterway.
SALES
Moody Rambin’s Bob Gulley and Tom Ford repped the seller at 6300 Gulfton St in Houston. Zieta sold the 23k SF NNN office investment property to 6300 Gulfton.
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McAlister Real Estate’s James Kadlick, Chris Hutcheson and Matt Herring closed the sale of 10 acres in Rosenberg. The property is at the northeast corner of FM 2218 and Town Center Boulevard, adjacent to GreatTown Plaza, and was sold to Gamal Enterprises for $1.45M. The commercial real estate company plans to use the land for retail development.
FINANCING
CBRE Capital Markets’ debt & structured finance team secured $92M for the refinance of Willowick Park, a 552-unit luxury apartment community in Houston. Hal Holliday and Rusty Chiles repped borrower Willowick Venture. Fannie Mae provided the 10-year, SARM loan that was used to refinance the original construction loan.
LEASES
Gulfcoast ARD signed a new 21k SF industrial lease at Westpark Business Center, 8798 Westpark Drive in Houston. JLL’s Anya Marmuscak and Richard Quarles repped the tenant, and Stream Realty’s Jeremy Lumbreras and Blake Warren repped the landlord, SCG Greater Houston.
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CJG Engineers signed a 5,100 SF office renewal at 3200 Wilcrest Drive in Houston. JLL’s Ed Prejean repped the tenant, and Moody Rambin’s Kurt Kistler repped the landlord, Houston Texas Westchase III Properties.
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Eurochem International Corp leased an 8k SF single-tenant facility at 3023 Farrell Road. Lee & Associates’ Reed Vestal, Cameron Hicks and Taylor Schmidt repped the tenant, while Lee & Associates’ Mike Spears and Robert Noack repped the landlord.
