This Week's Houston Deal Sheet
This week's big news is the Texas Medical Center's new president and CEO, Bill McKeon. McKeon took the helm after former CEO and president Dr. Bobby Robbins' decision to accept the post of president at the University of Arizona.
McKeon previously served as the Houston institution's chief operating officer. Shawn Cloonan moved up to that role, from general counsel and executive vice president for planning and development. McKeon will focus on continuing to build the institution's life sciences.
“The opportunity ahead for TMC and Texas is vast, but to seize it, we must further align our great leaders and institutions to advance our position as the ‘third coast’ of life sciences,” McKeon said in the announcement.
SALES
The Sembler Co. and Forge Capital Partners purchased the Humblewood Center, a 172K SF shopping center anchored by Petco, Sketchers and Conn's Home Plus at the southwest corner of U.S. 59 and FM 1960.
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The PPA Group acquired Citation North Apartment Homes in partnership with a private Israeli investment company. Grandbridge Real Estate Capital facilitated the deal. The 236-unit Class-C residence is on eight acres in North Houston. Under its new ownership, the property will be renamed Highland Cross Apartments.
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NAI Partners’ John Ferruzzo and Joshua Lass-Sughrue closed two deals:
- The duo repped the seller in the disposition of 55K SF of industrial flex space in Pineway Business Park.
- Ferruzzo and Lass-Sughrue represented KP Westway LLC in brokering the sale of 62K SF of industrial flex space in Westway Business Park. Rob Allub of NB Elite Realty represented the buyer of the portfolio, Megacenter Pineway & Megacenter Westway.
LEASES
Red Wing Shoes has leased a 29K SF building at 7256 South Sam Houston Parkway West at Fort Bend Parkway Toll Road to expand its distribution business.
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Twistee Treat announced plans to open 40 to 50 Houston locations in the next five years.
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Plantgistix is adding 330K SF of warehouse space in the Ameriport Industrial Park in Baytown. Avison Young's Bob Berry was the broker.
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Darren O’Conor with NAI Partners represented the tenant, Houston Obstacles, in leasing 25K SF of industrial space at 27329 Spectrum Way in Houston. Southwest Realty Advisors ' Marc Drumwright represented the landlord, Nickson Smalley Industrial.
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CBRE’s Rich Pancioli represented S4 Communications in lease negotiations for 32K SF at 9702 Bissonnet. Transwestern's Michelle Wogan repped the landlord, Omninet Swcc.
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NAI Partners’ Darren O’Conor repped Installed Building Products in renewing a 25K SF lease at 16526 Air Center Blvd. in Houston. Brummett & Co. represented the landlord, Trans Phase.
