This Week's Houston Deal Sheet

The former Spaghetti Warehouse in downtown Houston has been sold. JLL announced the sale to 901 Commerce LLC, which is backed by a local development group that has plans to complete renovations of the 15K SF property.

The historic property was built in 1903 and originally housed the Desel-Boettcher Warehouse. In 1974, the popular Dallas-based Italian eatery moved in but closed its doors due to Hurricane Harvey flooding last year.

“We have always loved this building and jumped at the chance to acquire it,” a 901 Commerce spokesperson said in a new release. “We plan on working closely with the City of Houston and other stakeholders in the area to execute our vision. Our challenge will be to complete a historic renovation to a building that has a history of flooding. We believe in the property and this area, and are excited to take part in the downtown resurgence.”

JLL’s Donna Kolius, Pierce Owens, Kaylie Walker and CBRE’s Michael Hassler and Todd Casper represented the seller, an affiliate of a real estate investment trust.

EXECS

With 20 years of CRE experience, Maria L. Flores has joined The J. Beard Property Management Co. as the director of property management. She will oversee and direct the services across all property management assignments. Her background includes supervision, leasing and building operations for commercial mid- and high-rise office, retail, hospitality and medical real estate assets.

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Noe Escobar received a promotion to vice president of Houston land development for LJA. Noe joined the company in 1999 as full-time drafter while pursuing his engineering degree at night from the University of Houston. His portfolio includes design and civil engineering for land development projects ranging from small residential developments to large master-planned communities.

SALES

GD Capital LLC has purchased a 23K SF warehouse at 13735 FM 529 in Houston. NAI Partners’ John Ferruzzo, Nick Peterson and Ryan Searle represented seller Southbelt Park Ltd., and Texas Shoreline Properties’ David Otis represented the buyer. 

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An undisclosed buyer has acquired Old Ash Square, a 16K SF shopping center in Angleton. The property is 100% occupied and leased to service-oriented tenants, including Alamo Title, State Farm, Open MRI and the USDA. Marcus & Millichap’s Justin Miller and Davis Hansen completed the sale. 

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The Praedium Group’s Peter Calatozzo arranged the acquisition of Discovery at Mandolin Apartments, composed of 10 three-story apartment buildings and a clubhouse, in suburban Northwest Houston. 

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Lee & Associates’ Reed Vestal and Taylor Schmidt represented the buyer, a private family investment fund, and Forster Land Co. represented the seller in the purchase of a 122.25-acre tract at 8211 Bockhorn Road in Needville.

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Transitional Learning Center bought a 43K SF office building at 1275 Space Park Drive in Houston. Lee & Associates’ Drew Lewis represented seller Griffin Partners Nassau Bay L.P., and BHCRE’s Craig Guidry represented Transitional Learning Center.

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Lee & Associates' Reed Vestal, Taylor Schmidt and John Erck represented Bering Oil Co. in the sale of a nearly 10K SF industrial space at 6718 Northwinds Drive in Houston.

Rick Williams, co-founder of Texas Direct Auto, has entered into a lease/purchase agreement for a 7.74-acre tract on Southwest Freeway between Rookin Street and Tarnef Drive that was the former location of a Southwest Lincoln Mercury Automobile dealership. Colliers International’s Bill Byrd and Marshall Clinkscales represented property owner Hillcroft & Rookin Properties LLC, and Jon Stautberg represented Williams.

LEASES

Woodson’s Local Tap + Kitchen signed a new 6,700 SF lease at Birnham Woods Marketplace in Spring. Panoptic Realty Group’s Michael Blount Jr. represented the tenant, and Capital Retail Properties’ Eric Walker and Anderson Smith represented the landlord.  

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A New Orleans-based coffee shop, French Press Coffee, inked a lease at 13126 FM 1960 Road W. in Houston for a 2,401 SF retail space. Berkshire Hathaway’s Pouya Tiraie represented the tenant, and Caldwell Cos.’ Mary Caldwell represented the developer.

Kiewit Engineering Group signed a new sublease with Energy Tower IV for a 52,834 SF office space at 11750 Katy Freeway in Houston. JLL’s Louie Crapitto represented Kiewit, and CBRE’s Andrew Zeplain represented BASF.

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Fikes of Houston Inc. signed a lease for a 10K SF industrial space at 18702 Kieth Harrow Blvd. in Houston. NAI Partners’ Jake Wilkinson and Chris Caudill represented the landlord, DDJ Properties Inc.

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Enchanted Rock Electric Ltd. signed a lease for a 25K industrial space at 418 Clifton in Houston. NAI Partners’ Chris Kugle and John Ferruzzo represented landlord Harrisburg Investments LLC, and CBRE’s Ryan Roth and Graham Horton represented Enchanted Rock Electric.  

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Murphy Industrial Products Inc. inked a deal to lease 12K SF at 1430 North Post Oak Road. Belvoir’s Cary Latham represented the tenant. Prologis is the landlord. 

DEVELOPMENT

HCA Houston Gulf Coast Division announced plans to open a free-standing emergency services site, HCA Houston ER 24/7, at 6191 East Sam Houston Parkway North in Houston. The medical center will open July 17.

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NewForm Real Estate, an investment firm, announced the completion of the five-story downtown redevelopment of Main&Co, the historic Raphael and Dorrance buildings at the corner of Main and Commerce. NewForm Real Estate is leasing out the available creative office space of 16,900 SF, and CBRE’s Sasha Levine and Lacee Jacobs are leasing the remaining 5K SF of street-level retail space. Houston-based COMOcreatives will lead Main&Co’s branding and integration into the downtown culture.

FINANCING

HFF announced a $48.51M refinancing for CITYCENTRE Five, a 201K SF office building within the CITYCENTRE mixed-use shopping and entertainment development in Houston. CITYCENTRE Five is at 825 Town & Country Lane. HFF’s Colby Mueck represented the borrower, Midway Cos., to secure the loan through New York Life Real Estate Investors. 

THIS AND THAT

After rebuilding due to Hurricane Harvey flooding, Grayco Partners announced the reopening of the leasing center at Parkside at Memorial. The luxury apartment complex will host an official grand reopening event to showcase the new amenities, several townhomes and the first-floor apartment homes in the coming month.