This Week's Houston Deal Sheet: KBS Offloads 4-Building Light Industrial Property
HPI Holdings II LLC purchased Clay Crossing Business Center, a four-building, 223K SF light industrial property in Houston, from KBS, a real estate owner and operator.
The property is in the northwest submarket. Built between 2000 and 2002, Clay Crossing features 16-to-20-foot accessible industrial buildings and office suites. The property has a variety of configurations featuring four rear-load buildings and suites ranging from 3,100 SF to 45K SF. About 40% of the property’s suites are 20K SF or smaller.
“We were looking to acquire an industrial product with value-add opportunity upside via future lease-up, and Clay Crossing fit the bill,” HPI owner Hal Pontez said in a news release. “We recognized an immediate opportunity to provide ready-made suites to an underserved tenant base in Houston’s urban infill light industrial market.”
Trent Agnew, Charlie Strauss, Lance Young and Brooke Petzold of JLL represented KBS. Bruce Fischer, Howard Chu and Amanda Kennedy of Greenberg Traurig represented KBS as legal counsel.
PEOPLE
Trammell Crow Co. promoted Aaron Thielhorn to market leader for TCC’s Houston office. Thielhorn will oversee the day-to-day operations of the office and the strategic oversight of all new development and investment activity in the region.
Thielhorn will replace Jim Casey, who will retire in May after 37 years with the company. He has led the development of office projects, including Hess Tower and Energy Centers One through Five.
SALES
Newcor acquired the firm’s first industrial outdoor storage property at 1500 Miles St. in Houston. The 2-acre property is fully fenced and gated. Newcor plans to install electrical infrastructure to support lighting and power for the site. It will also add a small office building. The acquisition was made off-market.
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Dallas-based Apricus Realty Capital acquired an 8-acre parcel at 9987 Wallisville Road in Houston. The outdoor industrial storage property provides fully secured truck parking for a freight logistics operator and sits alongside a truck servicing facility and office building.
The acquisition is a programmatic joint venture with ABR Capital. Apricus was self-represented by Matt Haley, Garrett Marler and Cort Martin.
LEASES
Longhorn Steakhouse secured the ground lease for a 1.2-acre retail pad site in Chambers Town Center in Baytown from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Traci Holman of Baker Katz represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Ember Real Estate Investment & Development announced plans for an emergency services district building to be built on-site at The Grand Prairie, Ember’s 1,730-acre master-planned community in Hockley. The building will be about 16K SF, two stories and set on a 3-acre parcel.
The project is set to break ground in July and be completed in August 2025. The building will house emergency services vehicles, personnel and equipment.
Martinez Architects, S&G Engineering Consultants, Matrix Structural, Emerald Engineering, Evergreen Design Group and Combs Consulting Group are involved in the project.
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Midway’s East River opened The Laura, a five-story multifamily community with 359 apartments. The complex is welcoming the first residents to the waterfront mixed-use development east of downtown. The project is named after the steamboat brothers John and Augustus Allen sailed to prove Buffalo River’s navigability in 1837.
Residences range from studios to two-bedroom units from 430 SF to 1,430 SF. Design features include shipping containers repurposed into workspaces and a coffee bar. Amenities include a fitness center, outdoor kitchen, pet spa, bicycle storage and refrigerated package storage. The building will also feature ground-floor retail.
THIS AND THAT
Houston-based real estate investment and development firm DC Partners acquired Design Build Partners, a New York-based development and construction company.
The two firms will integrate their development, construction, acquisition, capital and asset management businesses.
With the acquisition, Arsean Maqami, managing partner at Design Build Partners, assumes the role of co-president at DC Partners, alongside DC's Roberto Contreras IV, previously senior vice president. DC founder Roberto Contreras will retain his role as CEO and chairman of the board. Acho Azuike will continue to serve as chief operating officer, alongside Chief of Investor Relations Emilio Guzman and Chief Marketing Officer Julie Kleine.
Parel Patel joins the executive team as chief financial officer. Blake Berg, also a managing partner at Design Build Partners, becomes senior vice president of development and construction.
“The [Design Build] Partners team brings a wealth of experience from diverse markets, including California, New York, and Florida,” Azuike said in a news release. “Their contributions, particularly in the construction domain and fee development, will not only strengthen our team but also broaden our capabilities.”
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SVN | J. Beard Real Estate launched a specialized land division with a satellite office in Montgomery. Joe Burke and Robert Whitaker will join the firm and lead the new land advisory team.
In their roles as senior advisers and team leaders, Burke and Whitaker will serve and promote the emerging markets of Central East Texas.
Burke specializes in the acquisition and disposition of land in emerging markets. Whitaker has several decades of experience in land brokerage and development.
