This Week's Houston Deal Sheet
Whether you prefer Democrat, Republican or Independent, soon thousands of Houstonians will be able to enjoy Torchy's Tacos closer to home. The beloved Austin-based taco shop announced four new locations across the Houston area.
The new locations are in Westchase at the Westchase Shopping Center, Kingwood at Main Street Kingwood, Cypress at The Boardwalk at Towne Lake, and Spring at the Springwoods Marketplace. EDGE Realty Partners' Jamie Weaver represented Torchy’s Tacos in all four leases.
LEASES
Hip men's retailer Chubbies signed a new 1,300 lease at Heights Mercantile in Houston. JLL's Mark Raines and Matt Parsons repped the tenant, and Brittney Freed with the Shop Cos. repped the landlord, Radom Capital.
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Blue Lion Salon Studios signed a 7,400 SF retail lease at West Lake Crossing in Humble. JLL's Mark Raines and Matt Parsons repped the tenant. Oldham Goodwin Group's Kathy King repped the landlord, American Realty Capital.
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AIG signed a new 9,500 SF office lease at Westchase Corporate Center in Houston. JLL’s Russell Hodges and Chrissy Wilson repped the landlord, Clarion Partners. Cushman & Wakefield's Angus Hughes repped AIG.
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On behalf of Equus Capital Partners, JLL’s Russell Hodges and Jessica Ochoa recently completed two office leases at 5300 Memorial in Houston. Tidal Tank, represented by NAI Partners’ Jason Whittington, renewed a 5,600 SF lease, and Stepp & Sullivan, repped by Ray Lopez and Gary Lawless of Cresa Partners, signed a new 1,800 SF lease.
SALES
Marcus & Millichap's Kelley Workman and Jerry Goldstein completed the sale of BBVA Compass Bank (above), a 4,500 SF net-leased property in the master planned community of Kingwood. The asset had a list price of $3.6M.
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Harris County Smokehouse acquired 1.5 acres for a future restaurant site, its third location in Harris County, at the southwest corner of the Grand Parkway and I-10. Colliers International’s David Carter repped the owner. CBRE’s Jazz Hamilton repped the seller.
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EDGE Capital Markets’ Josh Jacobs and Burdette Huffman repped the seller of Art Square Center, a 39k SF mixed-use project at 4118 Fannin St. in Houston. Art Square was purchased by Kline Ventures.
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Caldwell Cos.' land division completed six sales totaling 89 acres throughout the Houston area.
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Transwestern Development Co. completed the sale of Mason Creek Business Center, a four-building industrial property in Katy. The Class-A property was owned by a partnership between Transwestern Development Co. and AEW Capital Management, acting on behalf of an institutional investor. An undisclosed buyer acquired the 340k SF property for an undisclosed amount. The ownership entity was represented by HFF’s Rusty Tamlyn and Trent Agnew.
DEVELOPMENT
Surge Homes unveiled The Isabella at Midtown, a 208-condominium development in Midtown with prices ranging from the $150k's to the $600k's.
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Howard Hughes and The Woodlands Development Co. will break ground on a 292-unit, gated apartment community in Creekside Park Village Center — the first multifamily development in The Woodlands’ Village of Creekside Park. Humphreys & Partners is handling design. The project should deliver in mid-2018.
FINANCING
Houston-based private equity investment firm Lionstone Investments closed its Lionstone U.S. Value-Add Four fund. The firm raised $450M across a commingled fund and a co-investment sidecar.
PROMOTIONS/HIRES
Carolyn Wolff Dorros was appointed executive vice president of Wolff Cos with responsibilities for the oversight and management of the company’s operations, marketing, and community and public relations.
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Nick Childs joined Black Label Commercial Group as a commercial real estate adviser. Childs was the exclusive listing agent of The Four Seasons Hotel Downtown.
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Gensler named three new principals to its South Central region — Brooks Howell in Houston and Byron Chambers and Jonathan Kelley in Dallas.
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Entrepreneur and former Houston Astros owner Drayton McLane Jr. has joined the Texas Central Rail’s Board of Directors.
