This Week's Houston Deal Sheet
Global real estate investment management firm Heitman completed the acquisition of a 1.4M SF medical office portfolio composed of 17 buildings in seven states, with Texas taking the lion's share.
Sugar Land’s Medical Plaza I and II and Katy Medical Plaza I and II were included in the sale, as were all three Westover Hills Medical Plazas in San Antonio. Indiana is home to five of the assets, with the remaining buildings in Illinois, Missouri, New Jersey, North Carolina and Virginia. The majority of the properties were built after 2005 and are affiliated with highly rated, market leading and academic health systems.
SALES
CBRE’s Matt Phillips and Clint Duncan represented CFH Investment Partners in the sale of The Club at Stablechase, a 148-unit multifamily complex in the Champions area of Houston. Houston-based Mosaic Residential Inc. purchased the property.
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Marcus & Millichap’s David Fisher and Thomas Costello completed the sale of Magnolia NNN Investment, a 13K SF retail property in Magnolia.
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NewQuest Properties’ Jeff Lokey sold 6.23 acres at the intersection of Beltway 8 and West Hardy Toll Road, Houston, to Industrial Beltway 8.
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CBRE’s Tom Lynch and Heather McClain represented Levey Group in the disposition of Sam Houston Business Park, a four-building industrial park totaling 262K SF. The 100% leased park was acquired by Sealy & Co.
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An undisclosed buyer purchased 4 acres at the Walter Road Pad Sites in Houston. Retail Solutions' Lauren Sheppard represented the seller. Anderson Realty Advisors' Richard Anderson represented the buyer.
LEASES
NAI Partners’ Zach Leger and Jacob Aldridge represented owner C-III Asset Management in leasing 8.2K SF to Humble ISD at 900 Rockmead Drive in Kingwood.
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CBRE’s Kristen Rabel and Elliott Hirshfield represented American General Life Insurance Co. in a 5.9K SF renewal for Combs Gas Inc. at 2777 Allen Parkway in Houston. Cushman & Wakefield’s Courtney Walker and Joe Rambin represented the tenant.
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Hunt Guillot & Associates leased 10K SF of office space at 8401 New Trails in the Research Forest corridor of The Woodlands. Newcor Commercial Real Estate’s Rob Banzhaf and Ryan Dierker represented the tenant. Lincoln Property Co.'s Kevin Wyatt represented the landlord, Creekstone 8401 New Trails.
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CBRE’s Lucian Bukowski represented Star of Hope Mission in leasing 6.3K SF from Tr Lonestar Industrial Portfolio at 5921 South Loop East in Houston.
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Baker Katz’ Lunden McGill represented Pet Supplies Plus in leasing 6K SF at the intersection of League City Parkway and Highway 270. Hungington Properties' Stephen Pheigaru represented the landlord.
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CBRE’s Chris Sido, Brian Ashby and Sydney Dixon represented BPL Plasma Inc. in leasing 11K SF of medical space at 150 First St W. in Humble from Bender Square Partners, which was represented by Wulfe & Co.’s Sidney Mafrige.
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Indochino will open a 3.1K SF store on the first floor near the center court of The Galleria. The store will launch March 2.
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CBRE’s Lucian Bukowski represented the Dashiell Corp. in securing a 79K SF lease from Mission Kurland Investors at 12301 Kurland Drive in Houston.
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CBRE’s Lucian Bukowski represented Calpine Corp. in leasing 110K SF from Bay Bluff at 9311 Bay Area Blvd. in Pasadena.
HIRES/PROMOTIONS
Lee & Associates made seven new hires this week. Specializing in industrial, land and investment sales are Stephen Hazen, director; Mason Alsbrooks, associate; Drew Aston, associate; Justin Cole, associate; Feysal Edris, associate; Jeff Kuper, associate; and Brandon Wuntch, associate.
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Pamela Sprouse, Debbie Gentry and Geoff Jones joined Halberdier Real Estate. Sprouse brings her experience as a leasing manager for Boxer Property to her new role as real estate adviser. Gentry joins the team as director of operations, and Jones joins as part of the business development team.
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Johnson Development hired Carrie Roehling as marketing director for its Cross Creek Ranch community in Fulshear.
FINANCING
HFF completed the $28.1M cash neutral refinancing for Hotel Derek, a 312-room four-star hotel in Houston’s urban, mixed-use Galleria/Uptown district. HFF’s Colby Mueck and Scott Hall led the debt placement team behind the transaction.
