This Week's Houston Deal Sheet
Confidence is returning to Houston, and with it comes massive land deals. Johnson Development Corp. acquired 1,619 acres in Northwest Houston for what is expected to be Houston's newest master planned community.
The site is five miles west of the Grand Parkway and south of Highway 290, off Katy Hockley Road. The seller, Rockspring Capital, was repped by McAlister Real Estate's Chris Hutcheson, Matthew Herring and James Kadlick. Johnson was repped by NewQuest's Dave Ramsey.
SALES
Colliers International’s Jason Tangen and Trey Erwin repped the buyer, a local private fund, in the acquisition of a 12K SF industrial building at 7434 Fairbanks North Houston Road. The seller was White Oak Industrial Park.
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NAI’s Clay Pritchett repped Whatley Properties in the sale of 23300 Pasadena Blvd., a 42K SF office/warehouse facility. Bay Cam Properties’ Robin Webb repped the buyer, JGBM.
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MenMar Properties acquired a 21K SF office/warehouse at 4202 Telephone Road in Houston for a Fiesta Beverage Mart storage and retail. The seller was City Office Supply, which has relocated to 6049 South Loop East in Houston. MenMar Properties was repped by Bill Schneidau. Davis Commercial’s Barret Von Blon repped City Office Supply in both transactions.
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River Oaks Equity Partners brokered the sale of Victoria Apartments in Houston. The property transacted at a record price per unit in its submarket with the in-place effective rents. No further information was provided.
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Proximity Commercials’ Leigh Anne Ahr brokered the sale of 18812 Tomato St. in Spring. Autumn Air purchased the asset from Triumph International.
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Mariah Properties sold a 10-acre land parcel and a 46K SF crane-served manufacturing facility at 1223 Brittmoore Road in Houston. JLL’s Kevin Erck and John Talhelm repped the seller. Harrison Kane of McAlister Real Estate repped the buyer, Rockspring Capital.
LEASES
Hartree Partners expanded and renewed an office lease for a total of 6,500 SF at Two Allen Center, 1200 Smith St. in Houston. JLL’s Jessica Ochoa, John Pruitt and Bubba Harkins repped the landlord, Brookfield Property Partners. Wyatt McCulloch and Lucian Bukowski of CBRE repped the tenant.
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Blue Lion Salon Studios signed two new leases. JLL’s Mark Raines and Matt Parsons repped the tenant in both.
- It signed an 11K SF retail lease at Baybrook Gateway, 1001 Bay Area Blvd. in Webster. Brody Farris repped the landlord, Weingarten Realty Investors, in-house.
- It inked a 10K SF retail lease at Grand Parkway Marketplace, 6603 Spring Stuebner Road in Spring. Doug Schooley repped the landlord, Kimco Realty.
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Spec’s Wine & Spirits leased 15K SF of retail space in Willis Town Center, at the intersection of Interstate 45 and FM 1097 in Houston. NewQuest Properties' Ashley Strickland repped the landlord in the direct deal.
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Landmark Industries has ground-leased a 3.7-acre site at the corner of Mason Road and Colonial Parkway, Katy, to develop a Timewise convenience store and service station. NewQuest Properties' Daniel McCormack repped the landlord, Westside Ventures. Steven Thomas and Jonathan Moseley of 360 RE repped the tenant.
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Houston Realty Advisors' Ed Ayres repped Timeline Interests in leasing 10K SF of office/warehouse at 15031 Woodham in Houston. Brummett & Co.’s Tom Brummett repped the landlord, Century Plaza.
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Modern Aircooled, a Houston Porsche repair facility on Hogan Street, signed a new lease for 7K SF on West 19th Street in the Heights. KW Commercial Signature’s Chris Abel closed the deal.
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Springwoods Village announced several new tenants: Jinya Ramen, Natural Pawz, Edible Arrangements, Zoe’s Kitchen, Tarka Indian Kitchen and Chick-fil-A. Regency’s Abe Pacetti worked the deals.
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Stream has completed five industrial leases totaling 59K SF across the region. Stream’s Harry Kutner, Jeremy Lumbreras and Warren Blake were involved in the transactions.
FINANCING
BMC Capital's Rick Clark arranged a $962K loan for the purchase of a multifamily property in Houston. The loan features a 5.25% fixed rate for five years and 25-year amortization. The loan was arranged through one of BMC Capital’s correspondent bank relationships.
