This Week's Houston Deal Sheet
Leading off this week's Deal Sheet is yet another sign of Houston's red-hot industrial sector. Contanda Terminals, a provider of bulk liquid storage and logistics services, has entered into a multiyear agreement with the Port of Houston Authority for 339 acres of prime deep-water access property on Houston's ship channel.
“Liquid bulk storage facilities are in high demand along the Houston Ship Channel and this agreement enables Port Houston to support this vital industry sector,” Port Chairman Janiece Longoria said.
The facility is centrally located for numerous pipeline connections providing support storage services for a variety of commodities, including petrochemical and other bulk commodities. Contanda’s automated terminal facility will be built in phases to provide customers access to on-site processing, multiple ship and barge docks, and convenient tank truck and rail car accessibility. No other size or design details were provided.
SALES
Colliers’ Chris Winters and Bill Byrd represented the seller, Eastbourne & Fry 529, in the sale of 11.7 acres just west of the Fry Road and FM 529 intersection in Houston. The buyer, Gamal Enterprises, was represented by NewQuest Properties’ Jeff Lokey.
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Colliers’ Edward Benton represented the buyer, Broadway Enigma, in the purchase of a two-tenant retail center at 11470 West Broadway St. in Pearland. No other information was provided.
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A JLL team including Dustin Volz, Kevin McConn, Zane Marcell and Grant Matthews completed the sale and leaseback of a 133K SF industrial distribution facility at 7350 Langfield Road in Houston.
Denver-based Industrial Property Trust purchased the property. The seller of 7350 Langfield owns both Warrior Creek Realty, the entity that sold the property, and T&L Distributing, the tenant occupying the entire building. T&L Distributing will lease back 100% of the property from IPT.
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Colliers’ Michelle Soderberg and Todd Edmonds represented LCG Business Park, the buyer, in the acquisition of 36K SF of industrial warehouse/office space at 6315 Theall Road in Houston. The seller, KFG Developers, was represented by Clark Gaines Properties’ Nathan Gaines.
LEASES
MedExpress Urgent Care has ground-leased a 1.6-acre retail pad site in Grand Morton Town Center in Katy. NewQuest Properties’ Josh Friedlander and Rebecca Le represented the landlord. The Retail Connection’s Stephen Tou and Zac Hoffer represented the tenant.
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Israel-based plastics manufacturer Starplast has signed a 182K SF industrial lease at Point North, 8111 FM 1960 in Houston. JLL’s Ryan Fuselier and Travis Secor negotiated on behalf of Starplast. Duke Realty’s David Hudson represented the landlord.
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NAI Partners’ Griff Bandy represented Bridgeway Capital Management in a 14K SF office lease at 20 East Greenway Plaza in Houston. The landlord, 20 Greenway Plaza, was represented by CBRE’s Steve Rocher.
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Finial Group’s brokerage team represented BOS Solutions in a corporate relocation to 10343 Sam Houston Park Drive in Houston. The landlord was represented by Fuller Realty Partners’ Aaron Ander. No other information was provided.
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NAI Partners’ Darren O’Conor and Jake Wilkinson represented FMFV Warehousing in leasing 52K SF at 16930 Park Row Drive in Houston. No other information was provided.
EXECS
Peter Mainguy joined CBRE as managing director of its Houston occupier business. He will have oversight of CBRE’s full spectrum of occupier service solutions.
DEVELOPMENT
Transwestern is moving forward with its latest multifamily project, The Hayworth, a 246-unit luxury development in Tanglewood. The leasing center at 1414 Wood Hollow Drive is now open.
