This Week's Houston Deal Sheet
Think Houston's industrial sector can't get any hotter? Think again. Goya Foods is expanding its North American processing center in Brookshire by adding 324K SF of production warehouse, distribution warehouse, production office and auxiliary buildings.
The expansion project by KDW almost doubles Goya’s existing 380K SF facility at 30602 Goya Road. The expanded facility, with an expected completion in 2018, will also feature 29 new dock doors for domestic and international distribution.
SALES
On behalf of the seller, Edifis Group, HFF completed the sale of and the acquisition financing for Eldridge Lakes Town Center, a 35,500 SF retail strip center shadow-anchored by Kroger in Northwest Houston. HFF’s Ryan West and John Indelli worked the sale while their colleague Michael Johnson worked the deal’s debt placement.
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NAI Partners’ John Ferruzzo and Chris Kugle represented the seller, Wellborn Tire Co., in the sale of 6620 Cunningham Road, a 28,500 SF industrial property in Houston.
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Marcus & Millichap’s Jeffrey Fript and Christian Mazzini completed the sale of Garden Gate Apartments, a 125-unit apartment property in Alvin.
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HFF completed the sale and acquisition financing for Norfolk Tower, a 207K SF office building in Houston’s Greenway Plaza submarket. The HFF team represented the seller, TA Realty, and procured the buyer, Nitya Capital. Nitya Capital plans to upgrade the building and rebrand it as Nitya Tower. The HFF team representing the seller included Danny Miller, Martin Hogan and Wesley Hightower. HFF’s debt placement team included Susan Hill and Kelly Lane.
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On behalf of SuLiBa Investments, Colliers’ Barkley Peschel and Trey Erwin completed the disposition of a 16K SF data center at 12626 Dairy Ashford in Sugar Land. Lee & Associates’ Cameron Hicks and Tim Thomas represented the buyer.
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JLL’s Jarret Venghaus and Jeff Venghaus represented LT Foods USA in acquiring a 50K SF Class-A industrial building in Lakeview Business Park at 14523 Fairway Pines Drive in Missouri City. Colliers’ Jason English represented the seller.
LEASES
NAI Partners’ Darren O’Conor and Jake Wilkinson represented RoadRunner Moving & Storage in negotiations for a 44K SF industrial lease at 4000 Greenbriar Drive in Stafford. Boyd Commercial’s Alexander Reilly and Bo Pettit represented the landlord.
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Greensheet Media leased 9,819 SF at 2020 North Loop West in Houston for five years. The Reyna Realty Group’s Natalie Malla represented the tenant, and Kacie Skeen represented the landlord, Hartman Income REIT.
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Lee & Associates’ Reed Vestal and Taylor Schmidt represented DivisionOne Construction in an 8,200 SF office lease at 11280 West Road in Houston. Betz Commercial’s Gloria Parrino represented the landlord, TAG Texas Property Holdings.
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Chaparral Management Co. leased 7,948 SF at 14550 Torrey Chase in Houston for 12 months. Rod Hale represented the landlord, Hartman Income REIT.
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Lee & Associates’ Chase Cribbs and Robert McGee represented Mullane Interests in the leasing of two 5K SF manufacturing buildings in Humble.
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MHW Commercial Real Estate’s Lex Parker represented both parties in the lease of a 106K SF warehouse and covered space at 1121 FM 2920 Road in Tomball. The landlord, BJ Services, is donating this space to the tenant, Salem Lutheran Church.
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Amegy Bank of Texas renewed 14K SF at 400 North Sam Houston Parkway East in Houston for five years. Richard Maloof represented the landlord, Hartman Income REIT.
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Newcor Commercial Real Estate’s Rob Banzhaf and Ryan Dierker represented Hunt Guillot & Associates in the sublease of 26K SF at 8401 New Trails in The Woodlands.
DEVELOPMENT
Local officials joined Caydon execs for the groundbreaking of the company’s first U.S. development, 2850 Fannin St. in Midtown. Future tenants at the 27-story condo will be able to move in starting in early 2019.
HIRES/PROMOTIONS
Transwestern appointed Josh Richards as director of sustainability for the firm’s asset services group. He will continue the firm’s sustainability efforts by working with an in-house steering committee and clients, company leadership and property management teams to improve building performance, reduce utilities usage and achieve operational savings.
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Hartman Income REIT promoted David Bateman to vice president of leasing in the Houston market.
