This Week's Houston Deal Sheet
Northwest Houston continues to attract development. The Howard Hughes Corp. is moving forward on the latest section of its Bridgeland development, an 11,000-acre master planned community. Fourteen builders will begin work at Parkland Village.
Parkland Village is the second of four eventual villages at Bridgeland. Serving as a transitional space between Lakeland Village and the new Parkland Village will be Bridgeland’s latest amenity, Josey Lake, designed as a recreational hub for the two villages.
SALES
Marcus & Millichap’s Juan Cuevas and Lucas Fertitta completed the sale of Fairway Square, a 120-unit apartment property in Alvin. The buyer, a private investor, was secured and repped by Whitney Rhoades and Danalee Corso in Marcus & Millichap’s Portland office.
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Colliers’ Marshall Clinkscales repped Sanhedrin II in selling a 1.9-acre development site at the northwest corner of West FM 518 and North Wesley in League City. Cadre Realty repped the purchaser, BW 518/Wesley.
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HFF's Rusty Tamlyn and Ryan West repped Stream and Thackery Partners in the sale of The Center at Pearland Parkway, a 167K SF, fully leased retail shopping center.
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Lee & Associates' Robert McGee and Thomas Leger repped Terry Allen Enterprises in the sale of a 15K SF building in Intercontinental Crossing Business Park in North Houston. Northwinds Commercial Realty’s Clint Hankla repped the buyer, 18720 Intercontinental.
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Marcus & Millichap’s Jerry Goldstein completed the sale of Pearland Corners Shopping Center, a 38K SF retail property in Pearland. The property is 86% occupied. The asset had a listing price of $6.3M.
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Colliers’ Marshall Clinkscales repped Fairplay Partners in selling eight acres to Sabine 2016 for the development of four new restaurants in the Pasadena Pavilion. Glaser Retail Partners’ Lindsay Schlueter repped the buyer.
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HFF’s Rusty Tamlyn and Trent Agnew repped the seller, FR/Cal Bammel, in the disposition of Bammel Business Park, a five-building, Class-A industrial project totaling 246K SF in northwest Houston. Exeter Property Group purchased the property for an undisclosed price.
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McAlister Real Estate's Harrison Kane repped Rockspring Capital in the sale of 23 acres at the corner of Beltway 8 and Tidwell Road in Houston. Moody Rambin's Steve Mahood repped an undisclosed buyer.
LEASES
JLL’s Mark Nicholas, Richard Quarles and Joe Berwick completed a 48K SF industrial lease with ProEnergy Services at 8303 McHard Road in Houston. Stream Realty’s Drew Coupe and Josh Marrow repped the tenant.
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NAI Partners’ Office Project Leasing group recently arranged a total of 7K SF in transactions across two separate properties. In the first deal, Zach Leger and Jacob Aldridge repped Featherwood Holdings in two expansions totaling 5K SF at 12600 North Featherwood in Houston. In the second deal, Leger and Aldridge repped the landlord, Forbes Land Corp., in a new 2.1K SF lease at 2656 South Loop West in Houston.
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NAI Partners’ Dan Boyles and Mike Mannella repped Rubicon Oilfield in subleasing 3.3K SF at Brookhollow Central 11 in Houston. JLL’s Eugene Terry repped the subtenant, Armstrong, Lee, Savage.
FINANCING
HFF's debt placement team led by Colby Mueck and Matthew Putterman arranged $66M in construction financing for Phase 1 of Midway’s latest Washington Avenue mixed-use development, Buffalo Heights.
HIRE/PROMOTIONS
The Texas Division of McCarthy Building Cos. hired Wendell Rychlik as vice president of business development for the civil business unit. Rychlik is responsible for building and maintaining relationships with owners, clients, engineers, subcontractors and suppliers.
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AECOM appointed James Selmser as the Texas healthcare program director, where he will collaborate on various healthcare, commercial, higher education and industrial projects.
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Clint Hankla joined Lee & Associates as a director. Hankla specializes in industrial brokerage in the North, far North and Northwest Houston submarkets.
CORRECTION, JULY 25 2:45 P.M. ET: Corrected the spelling of Thomas Leger and Jacob Aldridge.
CORRECTION, AUG. 1, 9:45 A.M. ET:A previous version of this story listed an inaccurate range of the project size James Selmser will handle at AECOM.
