This Week's Houston Deal Sheet
Parkside Capital sold 21 acres of retail land in Katy's West Ten Business Park, capitalizing on a booming I-10 corridor bolstered by the recently opened Buc-ee's.
NAI Partners’ John Simons and Holden Rushing brokered the sale of two tracts. Retail Rental Fund’s Joe Rothchild closed a deal for 11.8 acres of retail land with frontage to I-10. ARC Management’s Jeremy Moss represented Ace Manor Property Management in closing 9.1 acres suitable for a range of uses.
“Given the highly visible location right on I-10, and the easy access to a large number of residential communities in the area, West Ten Business Park is perfectly situated for successful retail development,” Rushing said.
SALES
CBRE’s Clint Duncan and Matt Phillips represented SEC Edgebrook in the sale of Edgelake Apartments, a 216-unit, garden-style multifamily asset at 3010 East NASA Parkway in Seabrook. 3000 NASA Parkway purchased the asset for an undisclosed price. Built in 1984, the asset was 95% occupied at closing.
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Colliers’ Trey Erwin and Chase Spence represented the seller in the disposition of 18.8 acres just west of I-45, along El Dorado Boulevard in Friendswood. The buyer was represented by Clark Gaines Properties’ Justin Clark and Nathan Gaines.
LEASES
Lee & Associates' Chris Nash and Patrick Wolford represented T.F. Hudgins in a 15K SF office sublease at Sam Houston Crossing II at 10344 Sam Houston Park Drive in Houston. Cushman & Wakefield’s Hugh Herman represented the sublandlord, First American Title.
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Fashion Glass and Mirror renewed a 25K SF industrial lease at Prologis North Park, 333 North Park Central Drive in Houston. JLL’s David Buescher and Geoff Perrott represented Fashion Glass and Mirror. Kevin Wittler of Prologis represented the landlord.
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Orion Healthcorp signed a new 11K SF office lease at Westchase III, 3200 Wilcrest Drive in Houston. JLL’s Eugene Terry and Louie Crapitto represented Orion Healthcorp. Kurt Kistler and Karen Wright of Moody Rambin represented the landlord, Houston TX Westchase III Properties.
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Lee & Associates' Thomas Leger and Robert McGee represented the seller, Terry Allen Enterprises, in a 15K SF industrial sale in Intercontinental Business Park in Houston. United Real Estate’s Bianca Reich represented the buyer, AZ NA Real Estate.
EXECS
Franklin Byrd joined Transwestern as managing senior vice president of corporate operations and finance, a new position created to enhance finance and administrative functions across Transwestern. Byrd has participated in the financing and management of over $9B of debt and equity transactions, both public and private.
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Ryan Searle joined NAI Partners’ industrial services division. Searle will be working with John Ferruzzo, head of the firm’s industrial group, and Nick Peterson, as part of a newly formed team at the company. He joins NAI Partners from Lee & Associates, where he closed approximately 120 transactions in four years.
THIS AND THAT
John Daugherty Realtors acquired David Young & Co., an independent boutique brokerage firm. The joining of the two firms represents a major presence in the highly desirable Memorial Villages, Energy Corridor, West Houston and Katy neighborhoods. Combined, the firm will have exclusive national and international networks with over 6,500 affiliate offices in 65 countries.
