This Week's Houston Deal Sheet: Howard Hughes Secures 225K SF Of Office Leases
Howard Hughes Holdings Inc. secured seven leases, including renewals, totaling more than 255K SF.
“The strong commercial leasing activity in The Woodlands is a reflection of the community’s appeal as a place where employees want to live and businesses can thrive,” Howard Hughes Houston Region President Jim Carman said in a news release.
Ovintiv Inc., a North American exploration and production company for oil and gas from shale, renewed the largest of the leases at 4 Waterway. The company leases about 170K SF of space in The Woodlands. JLL’s Lonna Jenks, Ronnie Deyo and Beau Bellow represented Ovintiv.
Workspace provider IWG leased 27.5K SF at 1725 Hughes Landing Blvd. for its Spaces coworking brand. Bellow represented the tenant.
Navita Health, a mental health treatment center, leased 11K SF at 9186 Six Pines Drive. Foldetta Commercial’s Zach Rogers represented the tenant.
The remaining leases were signed with smaller tenants.
JLL’s Scott Fikes and Jack Russo represented Howard Hughes in the transactions.
PEOPLE
Rockspring, a Texas-based real estate firm, is expanding its brokerage division. It hired Anthony Heckman as managing director of brokerage to lead a team of four new associate brokers, including Jared Edelman, Keller Arthur, Charlie Wyatt and Cotton Munson. The team will spearhead buyer and seller representation.
“Investors seeking to optimize their real assets and capitalize on premium properties are increasingly entrusting our brokerage team with the execution of their deals," Heckman said in a release. “The power of the new team enables us to leverage strategic oversight from our seasoned leadership team with dedicated brokers who can reach the right audience for a sale or purchase.”
SALES
Scarlet Capital Group acquired 5202 Almeda Road in Houston, a 60K SF parcel with a 13K SF retail building that is leased to Walgreens. The group acquired the property through its Buttermilk Dividend Fund.
LEASES
Copydotcom, which had offered printing and finishing services in its Montrose location since 1997, leased 10.5K SF at 4230 Richmond Ave.
The new location in the Greenway Plaza area is 3K SF bigger than the former spot, adding improved lighting and pull-up parking. The father-son duo that runs the store plans to expand its delivery options. Greg Lewis of Lewis Property Co. represented Copydotcom.
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American Oncology Network leased 16K SF at Physicians Centre at Vision Park at 18354 Interstate 45 S in Shenandoah, bringing the development to 75% occupancy. The 48K SF Class-A medical office center was developed in 2023 by i3.
SVN | J. Beard Real Estate represented i3 and the American Oncology Center represented itself in the 10-year lease. As recent affiliates of AON, Woodlands Cancer Institute will occupy a 6K SF suite on the first floor and an additional 10K SF on the second floor, totaling 16K SF.
CONSTRUCTION & DEVELOPMENT
Houston Habitat for Humanity, the City of Houston, CastleRock Communities and Chesmar Homes hosted a grand opening for Phase 1 of Robins Landing, a master-planned community for low-to-moderate income Houstonians.
“Robins Landing fills an important need for our community,” Houston Habitat for Humanity CEO Allison Hay said in a news release. “There is a critical and growing shortage of affordable housing in the greater Houston area. We know we can’t build our way out of this crisis. But Robins Landing brings us one step closer to meeting the critical need for safe, healthy homes.”
The 127-acre community will have more than 460 single-family homes and 500 multifamily units. Of the 84 homes in Phase 1, 41 are completed or in progress.
