This Week's Houston Deal Sheet
Institutional investors are increasing their interest in Houston. ManhattanLife, a group of four operating life and health insurance companies, purchased 13831 Northwest Freeway, a 151K SF office building in Northwest Houston, for the company’s corporate expansion and investment needs.
NAI Partners’ Jon Silberman represented ManhattanLife. Seller Boxer Property was represented in-house by Jay Nowlin. NAI Partners’ Landlord Services division, led by Managing Director Jim Tainter, was awarded the leasing and property management assignments for the building.
SALES
AWC Inc. acquired a 23K SF industrial warehouse at 1102 West Eighth St. in Deer Park. JLL’s David Buescher and Ryan Fuselier represented the buyer. Walker Barnett with Colliers International represented the seller, Tracer Construction.
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An undisclosed buyer purchased 1.4 acres at 14507 FM 528 in Houston. Retail Solutions' Mohamed Gamal and Dani Allison represented the seller. John David Vasquez of Re/Max Top Realty represented the buyer.
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Avison Young principals Mike Wilson, Erik Foster, Jim Kornick, Chip Ryan and Darrell Betts represented the owner, an affiliate of Stage Equity Partners, in the sale of the Texas Children’s Hospital Medical Office Building, a 25K SF, Class-A multi-tenant medical building at 5650 East Sam Houston Parkway North on the east side of Houston. The buyer was Healthcare Trust Inc., based in New York. Financial terms were not disclosed.
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Newcor Commercial Real Estate’s Zack Wheeler and Rob Banzhaf represented the buyer, Higar Property Management, in the purchase of an 8,500 SF office building on 1.2 acres on the corner of Navigation Boulevard at 403 North York St.
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Lee & Associates’ Thomas Leger and Patrick Wolford represented American Fire Systems in the purchase of a 25K SF industrial building at 14219 Westfair West Drive in Houston. CRC Real Estate’s Richard Glass represented the seller, Export Service International Forwarding.
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Baker Katz acquired a 9,100 SF shopping center in Houston. Baker Katz entity BK Kirby purchased the property from Kirby Shopping Center, which was represented by Investor Real Estate Services' Jim Bayne.
LEASES
JLL’s Kevin Erck and John Talhelm represented Veterans Hydraulic Service in two new industrial leases. Veterans Hydraulic signed a 20K SF industrial lease at 23421 Clay Road in Katy. Capital Real Estate Commercial's Hart Schleicher represented the landlord, GPI. Veterans Hydraulic also signed a 9,100 SF industrial lease at 9211 Windfern Road in Houston. Schleicher represented the landlord, Windfern Partners.
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NAI Partners’ Jason Gaines and Shaffer Braun represented F45 Training in arranging a 4,100 SF retail lease at 12702 Grant Road in Cypress.
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Lee & Associates’ Drew Donohue and Ryan Young represented Prime Energy Services LLC in the lease of an 8,400 SF office space at 654 North Sam Houston Parkway East in Houston. Marci Phillips with PMRG represented the landlord, PI North Belt Portfolio.
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Emler Swim School signed a new 6K SF retail lease at Wood Ridge Plaza, 27842 Interstate 45 North in The Woodlands. The lease represents a fifth location for the Dallas-based company that entered the Houston market in early 2017. JLL’s Matt Parsons and Mark Raines have represented Emler in its multiple location rollout. Katherine Wildman of Wulfe & Co. represented the landlord, CH Realty VI/R Houston Wood Ridge, in The Woodlands transaction.
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NAI Partners' Jon Silberman represented the PFS Group in a 54K SF renewal at 2600 North Loop W in Houston.
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NAI Partners’ Zach Leger and Jacob Aldridge represented 2201 Market in arranging two office leases at 2201 Market St. in Galveston: a 6,400 SF lease for Kempner Capital Management and an 823 SF lease for Harris & Eliza Kempner Fund.
HIRES/PROMOTIONS
Chris Wadley joined JLL as senior vice president and Houston Healthcare Lead. Wadley will oversee the growth of JLL’s Houston healthcare practice.
FINANCING
CBRE’s Andrew Behrens and Jesse Weber arranged $10M in financing for the acquisition of North Park Apartments, a 192-unit multifamily community in the Greater Greenspoint area.
