This Week’s Houston Deal Sheet: Law Firm Launches In Houston With Heritage Plaza Lease
National law firm Nelson Mullins leased 16K SF for its first Houston office at Heritage Plaza, the 1.1M SF Class-AA office tower at 1111 Bagby St. in Downtown Houston.
The Houston office expands the firm’s presence in Texas from its existing Dallas office, adding 10 litigation and corporate attorneys. Nelson Mullins’ Houston office launched in April, according to a Reuters report.
The Houston office is led by Craig Dillard, who formerly co-led Foley & Lardner’s oil and gas practice and its Houston litigation department, according to Reuters. Brookfield quickly accommodated Nelson Mullins’ desired renovations to the space, a news release stated.
Nelson Mullins was represented in lease negotiations by Anya Marmuscak and Clara VanLandingham of JLL. Brookfield Properties was represented internally by Tyler Merritt and William Holliday.
SALES
Lee & Associates facilitated the sale of an industrial outdoor storage facility at 2222 N. Wayside Drive in Northeast Houston. The property has a 194K SF truck terminal on 17 pathed acres.
Lee & Associates’ C.E. “Trey” Erwin III and Josh Carl facilitated the deal. It was acquired by Zenith IOS in a joint venture with institutional investors and advised by J.P. Morgan Asset Management.
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Dhanani Private Equity Group bought First Colony Commons, a 380K SF retail shopping center at 15375 Southwest Freeway in Sugar Land. Mark Witcher, Chris Cozby, Jim Batjer, Harrison Tye and Jolie Duhon with CBRE represented the seller, TriGate Capital.
CBRE’s Ryan Watson arranged acquisition financing for the buyer.
First Colony Commons is anchored by new-to-market supermarket Seafood City and was 97% occupied by 40 tenants at the time of sale.
“The property received multiple offers from a diverse group of investors, driven by the long-tenured national credit anchor lineup, a new grocery anchor draw, and a hard-corner freeway location,” Witcher said in a news release.
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After 25 years of ownership, Kingwood Houston Oaks Limited Partnership sold Oaks of Kingwood, a 152-unit multifamily property at 3415 Havenbrook Drive in Kingwood. Colliers’ Chip Nash, Bob Heard and Jaleel Adatia represented the seller.
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Gamal Enterprises sold 318 acres on FM 529 in Brookshire to Century Communities. Wade Nelson of The Nelson Co. represented the buyer.
LEASES
Partners Real Estate arranged a 33K SF industrial lease for full-service fabrication company 2911 Fabrication at 14490 Wagg Way Road in Houston. Partners’ Travis Land and Braedon Emde represented the landlord, United Equities. Caleb Lawson with Flatrock Cos. represented the tenant.
The landlord is also building seven speculative industrial buildings in Satsuma Station Industrial Park, which Partners is marketing for lease.
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Quick Quack Car Wash leased a 36K SF parcel at the intersection of Interstate 45 and Cullen Boulevard in Houston from Cullen Gulf Freeway LLC. Rebecca Le of NewQuest Properties represented the tenant. Liz Jacob of Lovett Commercial represented the landlord.
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Oxford Partners represented ATX Auctions in the lease of 15K SF at 2700 Bingle Road in Houston. Oxford Partners’ John Harris, Jacob Summers and Stephen Hazen represented the tenant. The landlord, Garver Real Estate, was represented by Scott Wilkerson of Garver Real Estate.
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Divine Decor & Design signed a 15K SF lease at Southwest Business Park at 10415 Landsbury Drive in Houston. Ryan Burnaman with LandPark Commercial represented the tenant. The landlord, Fort, was represented by its leasing manager, Thomas Pfeifer.
CONSTRUCTION & DEVELOPMENT
Gauge Real Estate Partners began construction on its largest speculative development, Gauge Southgate. The three buildings will total 193K SF of industrial space with varied amenities, including office space, dock-high doors, parking and substantial power capabilities. Stream Realty Partners will oversee sales and leasing.
The project is expected to deliver in the second quarter of 2025.
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Tricon Residential, a Blackstone Real Estate portfolio company, completed Tricon Willow Creek in Tomball, a build-to-rent community with 148 single-family rental homes. It was developed in partnership with HHS Residential, a division of Plano-based Highland Homes.
The community is at 9835 Willow Creek Commerce Drive in Tomball, and amenities include a playground, sports park, dog park, pool and barbecue area.
THIS & THAT
Brkthrough, a challenge room social entertainment experience, will open its second U.S. location at 8885 Metropark Drive in Shenandoah later this year. The 20K SF space is in Metropark Square, an entertainment-focused mixed-use development.
The concept will have 40 rooms designed to challenge participants' competitive, physical, mental and problem-solving abilities. The flagship Brkthrough is in Kansas City, Kansas.
“We chose Houston as the location for our first BRKTHROUGH expansion because of its diverse and rapidly growing population,” Brkthrough founder Braden Holcomb said in a news release, adding the experience is designed to cater to small groups of friends and family as well as large companies looking for team-building experiences.
