This Week's Houston Deal Sheet
In a little over a month, Olympians from around the world will assemble for the 2018 Winter Olympics in PyeongChang, South Korea. Five-time Winter Olympic medalist Chad Hedrick will not be there though. Now retired, Hedrick joined the world of commercial real estate as Halberdier Real Estate's most recent hire.
As a speed skater, Hedrick won medals at the Turin and Vancouver games, taking gold in the 5000M in 2006. Previously at Haliburton, Hedrick made the move into commercial real estate in December.
"[Hedrick's] brilliant execution, his shared core values, and hungry winning attitude have immediately amplified our growing portfolio of commercial and mixed-use assets, investor sources, and the new H Residential division," Halberdier founder Trey Halberdier said in a statement.
SALES
HFF completed the sale of 2400 Augusta Place, a 124K SF office building in Houston’s Galleria submarket. HFF’s Marty Hogan represented the seller, Interrra Capital Group, and procured the buyer, who was not disclosed. The asset is 84% leased.
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LaSalle Investment Management completed the acquisition of Greenway Commons, a Costco-anchored shopping center at 3830 Richmond Ave. in Houston. The asset, built in 2008, is fully leased. The seller was represented by JLL's George Cushing, Wendy Vandeventer and Meaghan Gallacher.
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HFF represented Mountain West Industrial Properties in the disposition of Bayport Distribution Center II, a two-building, Class-A, fully leased industrial warehouse project totaling 772K SF in Pasadena. Duke Realty purchased the property for an undisclosed price. HFF’s team behind the deal included Trent Agnew, Rusty Tamlyn and Dane Petersen.
LEASES
Colvill Office Properties closed on two new office leases at Galleria Office Tower 1. The recently closed deals are a 29K SF lease to BKD and a 14K SF lease to Lucas Associates. CBRE’s Lucian Bukowski and Nicholas Bockhorn represented BKD. Bill Boyer and Collin Grimes, also of CBRE, represented Lucas Associates. Colvill’s Brad Beasley and Win Haggard represented the building’s ownership, Azreili Group and Unilev Capital Corp.
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Campbell Fittings leased 28K SF at Northway Park II at 4845 Homestead Road in Houston. Colliers’ Walter Menuet and Judd Harrison represented the tenant. The landlord, CenterPoint Houston UCET, was represented by Holt Lunsford Commercial’s Kelly Landwermeyer.
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Houston Industrial Development One and Stace Supply Corp. signed a 22K SF lease at 2915 Pasadena Blvd. in Pasadena. NAI Partners’ Clay Pritchett represented the landlord, Houston Industrial Development One. Sarah Hoffman represented the tenant.
UPDATE, JAN. 3, 2:10 P.M. ET: JLL's retail investment sales team that represented the seller of Greenway Commons has been added.
