This Week's Houston Deal Sheet
Greystone, a real estate lending, investment and advisory company, has welcomed National Apartment Advisors of Texas to its network. The new joint venture, Greystone NAA, will provide a full range of multifamily advisory services to clients in Austin, Dallas, Houston and San Antonio.
Since founding the company five years ago, the NAA team has closed more than 150 transactions totaling over $1B. Heading the Greystone NAA team is a group of real estate advisory leaders with over 80 combined years of experience. Abraham Garza III and Jordon Emmott are co-founding partners of NAA. Rounding out the Greystone NAA team are NAA partner Shayan Hasnain, directors Jamie Harrington, Ryan Mendez and Walter Montague, senior analyst Sunjay Arya and Lindsay Steszewski leading operations.
“NAA has consistently been one of the most active and competitive brokerage companies in Houston,” Emmott said. “This joint venture with Greystone will give us a platform which puts us on a level playing field with our competition.”
The Greystone NAA team will specialize in multifamily and mixed-use property or land acquisitions and dispositions for both institutional and private investors. The Greystone NAA team has been touted as a top deal producer in the Houston commercial real estate market in its five-year history.
“I am thrilled to welcome such an energetic, driven and robust team with expansive real estate market knowledge across the state of Texas to Greystone,” Greystone Real Estate Advisors President Jim McDevitt said. “This team will be unstoppable, and I can’t wait to see what they accomplish.”
SALES
Lee & Associates Houston represented LHI 2 LLC in the sale of a 12K SF triple-net-leased retail investment property at 4545 South Sam Houston Parkway East in Houston. Mike Spears and Thomas Leger of Lee & Associates Houston represented the buyer, and Matthews Retail Advisors' Braden Crockett represented the seller, Saint George Partners Ltd.
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Lee & Associates Houston's Chase Cribbs and Clint Hankla represented RH Hempstead Business Park L.P. in the sale of a 116K SF industrial park at 14518 Hempstead Highway in Houston. Vatco Properties's Vahe Asadourian represented the seller, Hempstead Park Inc.
LEASES
EAG Services, an oil and gas consulting firm, has inked a long-term deal to relocate from Uptown Houston to a larger downtown office. CBRE’s Kevin Saxe and Amber Wendt represented EAG Services in the 7K SF office lease at 1415 Louisiana St.
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Parkway Property Investments executed an 8K SF lease at San Felipe Plaza with Steward Partners Global Advisory. Savills Studley's Demetri Koutrouvelis and Drew Morris represented Steward Partners, and Rima Soroka and Eric Siegrist led the team for Parkway.
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Lee & Associates Houston represented Blair Warehouse Park LLC in the lease of an 8K SF industrial building at 21149 Blair Road in Houston. Lee & Associates' Robert McGee and Robert Noack represented the landlord, and the tenant was AFA Wheels LLC.
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Aqua-Tots Swim School has leased 6K SF of retail space at the intersection of Beltway 8 and Fairmont Parkway in Pasadena from WMC Fund LLC. NewQuest Properties' Austen Baldridge represented the landlord. Greg and Mark Stanislawski of Retail Strategy Real Estate Group represented the tenant.
DEVELOPMENT
McAlister Real Estate closed the sale of a 1,568-acre tract in Katy. The property, sold to Xu Qing LLC, is 4 miles west of the Grand Parkway, southwest of the Bridgeland community. The partially entitled raw land is most suitable for a future master-planned residential development, according to McAlister. JL United Realty / Re/Max United’s Rosemary Gong represented the buyer, and McAlister Real Estate's Matthew Herring represented the seller.
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E.E. Reed Construction broke ground on a 98.5K SF, two-story maintenance warehouse building for North America's largest refinery. E.E. Reed is working with Dewberry Architects on the project, which is scheduled to be completed in late 2018.
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E.E. Reed Construction completed Ravago's new warehouse in Baytown. The project includes a 713K SF, tilt-wall warehouse/distribution center with a 200-car rail yard; 30K SF of office space; and a truck maintenance facility on a 170-acre site. E.E. Reed worked with Ravago Americas, JLL and Powers Brown Architecture to design and build the project.
THIS AND THAT
Transwestern has been retained to continue leasing services for the 576K SF Loop Central office complex on behalf of the new ownership, a joint venture of Griffin Partners and Wheelock Street Capital. Transwestern Executive Vice President David Baker, Senior Managing Director Doug Little, Vice President Kelli Gault and Senior Associate Amanda App are leasing the property at 4828-4888 Loop Central Drive.
