This Week's Houston Deal Sheet
Trademark Property's big changes continue in Rice Village. Following new tenants, new art installations and a new parking system, the district has announced a new plaza to be built adjacent to D'Amico's Italian Market Cafe and the soon-to-open Hopdoddy Burger Bar.
The open-air plaza will feature seating and free WiFi shaded by large oak trees. A wider sidewalk will also be installed along Morningside Boulevard. Visitors won't have to wait long — the project is scheduled to finish next month. Both D’Amico’s and Nao Ramen will remain open during construction.
LEASES
Colliers International's Walker Barnett and Ryan Byrd helped G.E.T. Enterprises lease 201k SF at 7401 Security Way in Houston. The landlord, Prologis NA2 Texas, was repped by CBRE's Joseph Smith and Billy Gold.
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CBRE’s Kristen Rabel and Elliott Hirshfeld repped American General Life Insurance in leasing 7,600 SF to Northern Star Generation Services at 2929 Allen Pkwy. in Houston.
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Stream executed multiple office leases.
- Craig McKenna and Richard Barbles helped Legacy Holding renew 22k SF at 600 Jefferson.
- Ryan Bishop and Brad Fricks assisted Accudata with a new 16k SF lease at Remington II.
- Mat Volz and Paul Coonrod worked with ABIP to sign a new 15k SF lease at 1717 St. James Place.
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IHS Markit expanded and extended its office lease at 1401 Enclave in Houston. The company will occupy a total of approximately 90k SF in the building. JLL’s Russell Hodges and Chrissy Wilson repped the landlord, FCA Partners. Jay Kyle, Evan Djikas and Heather Reich of Colliers International repped the tenant.
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Emler Swim School has retained JLL to facilitate a multiple location roll-out throughout the greater Houston area. The Dallas-based swim school recently signed leases for two Houston-area locations: the first in the city, a 7,800 SF space at Meyer Park, 9929 South Post Oak Blvd.; and a 5,500 SF space at Clear Lake Marketplace, at the corner of Clear Lake City and El Dorado boulevards. Mark Raines and Matt Parsons are leading the JLL team on this project.
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CBRE’s Matt Trozzo, Connor Tamlyn and Kevin Saxe repped CIMA Energy in renewing its 20k SF headquarters lease at 100 Waugh Drive in Houston. Transwestern’s David Lee repped the landlord.
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Savills Studley's Kevin Hodges repped Conley Rose P.C. in the sublease of 9,100 SF at 575 North Dairy Ashford St., Houston. The sublessor was repped by Colliers' Bob Parsley, Jay Kyle and Darren Gowell.
SALES
Westmount Realty Capital acquired London Park, a Class-B garden-style apartment property at 14545 Bammel North Houston Road in Houston. Built in 1982, the well-maintained community has 257 one- and two-bedroom units in 21 two-story buildings.
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ARA Newmark completed one of its largest Texas trades in 2016, the 1,516-unit Urban 4 Portfolio in Houston. Vice chairman Matthew Rotan led the deal — repping CBRE Global Investors in the sale to affiliates of Highland Capital Management and BH Equities — with support from David Oelfke, David Wylie, David Mitchell and Thomas Alleman. The four-property set consists of Connection at Buffalo Pointe (352 units), The Meritage (240 units), Old Farm Apartment Homes (734 units) and Stone Creek at Old Farm (190 units).
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Colliers International's Trey Erwin and Christopher Klein repped the buyer, Cidema Three L.P., in the acquisition of 7922 Hansen Road, completing a 1031 tax-deferred exchange. CBRE's Bill Boyer and Sands Asset Advisors' Danya Bogart repped the seller. The property was purchased from a manufacturing company that is leasing the property back.
DEVELOPMENT
Vigavi completed Tidal Tank's 31k SF tilt-wall manufacturing facility in Baytown.
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Centennial Real Estate Co. and Atlantic Creek Real Estate Partners announced a $25M redevelopment of Brazos Mall in Lake Jackson. Centennial and Atlantic Creek, which acquired Brazos Mall in October 2015 along with its partner, The North Shore Properties Group, have begun the redevelopment and renovation of the mall. The first phase is slated for completion in fall 2017.
THIS AND THAT
Skanska retained JLL as the exclusive leasing agency for its West Memorial Place development, a premier 12-acre office campus along Terry Hershey Park in Houston’s Energy Corridor.
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Transwestern was retained to provide leasing services for 11451 Katy Fwy. in Houston’s Energy Corridor. Transwestern senior managing director Doug Little and vice president Louann Pereira are leasing the property.
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Moody Rambin has been retained by Accesso Partners as the exclusive leasing agent for the 6330 West Loop South building in Houston. The 14-story building totals 279k SF and is in the Bellaire submarket.
