This Week's Houston Deal Sheet
Fidelis Realty Partners and H-E-B broke ground last week at Fidelis’ Mont Belvieu Marketplace, beginning the process of developing the first large anchor grocery store in the extended Mont Belvieu area. The 87K SF H-E-B will anchor the brand-new shopping center and is scheduled to open early 2018.
The mixed-use shopping center includes approximately 200K SF of additional space. Fidelis is also working with the Mont Belvieu community, mayor and city council, to get a measure placed on the ballot this fall allowing restaurants in the currently dry area to sell alcohol.
“We’ve received great support from the city and community of Mont Belvieu for this project,” Fidelis CEO Alan Hassenflu said.
LEASES
NAI’s John Ferruzzo and Chris Kugle arranged a 31,500 SF industrial lease at 5114 Railroad in Deer Park, Texas, for tenant Vac-One Services. JLL’s Travis Secor and Ryan Fuselier repped the tenant.
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Spencer Ogden, a global energy, engineering and infrastructure recruitment agency, announced it is tripling the size of its Houston office and relocating to Greenstreet at 1201 Fannin St. The firm will move into a 12K SF former nightclub in mid-August.
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Aviation Laboratories renewed 10,800 SF at 5401 Mitchelldale in Houston. Kacie Skeen repped the landlord, Hartman Income REIT.
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Lee & Associates' Chris Nash and Travis Taylor repped Chicago Title in a 9,400 SF renewal at 3700 Buffalo Speedway. Stephen Woods repped the landlord, Moody National Buffalo Speedway.
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Breakaway Ministries, Galleria Day Spa, Runway Seven and Sweet Paris Creperie have all signed on at Century Square in College Station, totaling more than 14,200 SF in leased space.
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Roy USA leased 33,800 SF at 2300 Quitman Road in Houston. Jon Lumicao repped the landlord, Hartman Income REIT.
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Peterson Offshore Group, a leading European international energy logistics management operator has signed a letter of intent to lease 1.2M SF in Port Cameron Logistics Center.
SALES
CBRE’s Jack Fraker, Randy Baird, Heather McClain Venegoni and Tom Lynch arranged the sale of Techway Southwest, a 414K SF institutional-quality industrial portfolio in Houston. The buildings are strategically located on Bissonnet Boulevard, near Beltway 8 with convenient access to other major Houston arteries.
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Jeronimo Hirschfeld, developer and CEO of Miami-based One Real Estate Investment, has purchased Winding Trails Apartments at 10300 Wilcrest in Houston, featuring 438 apartments.
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Marcus & Millichap’s Justin Miller, Derek Hargrove and Davis Hansen completed the sale of Royal Woodbridge Plaza, a 16K SF retail property in Sugar Land.
DEVELOPMENT
JLL’s Chris Bergmann repped GreenSpace Holdings in the purchase of a parcel at Pearland Parkway and FM 518 for the development of a 1,017-unit self-storage facility, which broke ground July 28.
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Dallas-based Tradition Senior Living will transform a long-vacant tract along Buffalo Speedway inside 601 into a 316-unit senior living community.
FINANCING
Jamie Mullin, Brandon Brown and Kurt Dennis of LMI Capital placed financing for four separate garden-style apartment complexes, totaling 870 units.
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Aries/Conlon Capital has arranged six hotel refinancing transactions totaling more than $40M for limited-service hotels in Florida, Arkansas, Texas, Kentucky and Ohio. Aries/Conlon’s Rushi Shah, Suraj Desai and Michael Taylor originated the conventional and non-recourse CMBS loans on behalf of multiple borrowers.
EXECS
Doug Burt has joined 29th Street Capital as vice president of multifamily acquisitions for Houston and Central Texas. Burt is responsible for all facets of the privately held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies in this region.
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Stanmore Partners has appointed Jason S. Schlanger as president. The veteran multifamily professional will be responsible for the strategic direction, investor and lending relationships as well as operational activities for all current and future projects. Charles Hazen, a founding partner of Stanmore, will assume the role of chairman and will continue ongoing consultation to Stanmore.
