This Week's Houston Deal Sheet
One of Houston's most high-profile buildings has changed hands. The St. Joseph Professional Building, known for its giant cross above the Pierce elevated section along I-45 south of Downtown, was purchased by an affiliate of Boxer Property. The new owner is planning future renovations and a new name.
The 135K SF, 18-story office building in Houston is about 55% occupied. Boxer's Andre Pereira represented the firm. JLL's Rudy Hubbard, Kevin McConn and Rick Goings represented the seller.
Renovations prior to Boxer’s acquisition include upgraded elevator cabs, lobby, restrooms, lighting and boilers/chillers. Boxer Property intends to make additional improvements to the property’s interior and exterior in the near future, but there is no word if the giant cross will stay.
SALES
BTS Capital purchased an 8.3-acre parcel at Westpark Tollway and Grand Mission in Houston from a local investor. Krystal Mutina and Culver Stedman of EDGE Realty Partners represented the seller.
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Belvoir Real Estate Group’s Matthew Goldsby represented Zions Bank in the sale of 12373 Koalstab Road, a 21K SF industrial property in Conroe. Keller Williams Realty Northeast’s Kassie Locke represented the buyer, Best Sun.
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Colliers’ Tom Condon Jr. represented LMC Marine Center in the disposition of a 12K SF showroom facility at 14902 North Freeway in Houston. Realty Associates’ Ashraf Moton represented the buyer, AYAZ. Veritas Title Partners' Diane Murphy coordinated the closing.
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Marcus & Millichap’s Nate Newman and Michael Williams represented the seller in the disposition of a McDonald's ground lease, a 3.3K SF net-leased property in League City. The buyer was secured by Marcus & Millichap’s Jonathan Janiec and Joe Linkogle.
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Colliers’ Tom Condon Jr. represented Dynomax Drilling Tools in the sale of the industrial facility at the corner of 8927 Hufsmith Kuykendahl Road and Dogwood Drive in Tomball. Jane Mathews with Stewart Title - Tomball coordinated the closing. No other broker information was provided.
Capital Real Estate Commercial’s Frank Blackwood represented the seller, Williams Brother Construction, in the disposition of 27 acres on Commerce Street in Freeport. The buyer, Sun Coast Resources, was represented by counsel.
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Colliers’ Tom Condon Jr. represented Al-Attas Babidan Basmaih Joint Venture, the seller, in the simultaneous sale of a total of about 9.7 acres at the northwest corner of Sam Houston Parkway and McLain Boulevard. Belt International Realty Co.’s Claude Angelo represented both buyers. David Pitschmann with Alamo Title Co. coordinated the closing.
LEASES
Sojitz Energy Venture renewed a 6.5K SF office lease at One Briarlake Plaza, 2000 West Sam Houston Parkway in Houston. JLL’s Jessica Ochoa and John Pruitt represented the landlord, TIER REIT. Bobbie Bozarth of Transwestern represented the tenant.
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RYDE, an indoor spin cycle concept, inked a 5.1K SF lease at Esperson. It is anticipated to debut in early 2018. No broker information was provided.
THIS AND THAT
CenterPoint Properties is providing a 137K SF warehouse to Houston Food Bank as the organization works to meet the increased demand for its services in the wake of Hurricane Harvey. The property, at 8786 Wallisville Road in Houston, is available to the food bank for the next six months as a storage and packing site.
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Avison Young was named the exclusive leasing agent for 7102 North Sam Houston Parkway West. Avison Young principals Sam Hansen and Doug Pack will lead the leasing team. The three-story, 55K SF, Class-A office property built in 2014 serves as Employer Flexible’s headquarters.
EXECS
HOK named Randy Taylor as a regional leader of science and technology for its Texas practice, which includes offices in Houston and Dallas. Taylor joined HOK in 2012 and has more than 30 years of experience in the design of complex science and technology, healthcare, workplace and manufacturing facility projects. He will be based in Houston.
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CBRE's Mark Nicholson has been appointed to lead the office practice for asset services in the Americas. Previously, Nicholson oversaw CBRE’s asset services activities in Houston.
