This Week's Houston Deal Sheet
This week showed more signs of Houston's robust office investment. Two Sugar Creek Center in Sugar Land, a 143K SF Class-A office building, was sold. At 84% leased on 7.55 acres, the property is a sign of investor appetite for value-add office space in Houston.
An HFF team led by Dan Miller and Trent Agnew represented the seller, TA Realty, and procured the buyer, Velocis.
“Two Sugar Creek provides an excellent value-add opportunity through the lease-up of 20K SF of vacant space on the top floor, the 1.5 acres of developable land, and located in the best performing submarket in Houston,” Miller said.
SALES
A JLL team led by Rudy Hubbard, Kevin McConn and Rick Goings completed the sale of 2525 North Loop West, a 136K SF Class-B office building in Houston. 2525 Inner Loop L.P. purchased the asset from Lykes Building Holding Associates and Smetana Texas Realty Associates.
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NAI Partners’ John Ferruzzo and Nick Peterson represented the seller, Herman Allen Stuart, in the sale of 11811 Tanner Road, a 13K SF industrial warehouse in Houston. Centermark Real Estate’s Mark Lehman and Nathan Rodriguez represented the buyer, Brady Investments.
LEASES
Transwestern’s David Baker and Jack Scharnberg represented the landlord in leasing 22K SF at 3250 Briarpark in Houston. Cresa’s Neil Elliott and Andre Granello represented the tenant, Meritage Homes.
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Poynter Commercial Properties, the leasing and property management company for the Commerce Green Office Park in Sugar Land, signed 30K SF of lease transactions at 245 Commerce Green Blvd. According to Kevin Poynter, the overall project is now 100% leased.
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First Houston Properties’ Chad Redding and Patrick McKiernan represented Luxe Moving and Storage in leasing 22K SF of office/warehouse space at 2015 White Street from Prologis.
THIS AND THAT
CBRE’s David Aaronson has been retained by GRDM Management, a Houston-based firm specializing in the development and management of RV resorts, to market its portfolio of 11 RV resorts. Ten of the properties are in the Greater Houston area, and the remaining property is in San Antonio.
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Coldwell Banker Commercial Advisors opened a new CityCentre office in Houston at 10497 Town & Country Way. The organization merged with Coldwell Banker Commercial NRT's Houston office in a move that formed the largest Coldwell Banker Commercial company globally.
HIRES/PROMOTIONS
Carter Bechtol has joined Stanmore Partners alongside Jason Schlanger to assist with the development, investment and strategic direction of the company. This partnership brings together two industry veterans with over 35 years of experience.
