This Week's Houston Deal Sheet: Emergency Vehicle Provider Moves HQ To Sugar Land With $4M Investment
Frazer, a provider of emergency vehicles, will invest $4M to relocate its headquarters from Houston to Sugar Land through an agreement facilitated by Sugar Land Economic Development and Tourism.
The company will occupy a 150K SF space at 1410 Gillingham Lane and create 286 new jobs with an average annual salary of $71K.
“Being just minutes outside of Houston, Sugar Land has always been on our radar,” Frazer CEO Laura A. Griffin said in a news release. “It’s home to a growing business environment, a robust workforce, and reliable infrastructure. It’s an ideal destination for us to grow and serve our customers.”
Frazer has provided vehicles suitable for licensing and use as mobile clinics, mobile stroke units and ambulances to fire and emergency medical services organizations nationwide for over 30 years.
The company is leasing its new headquarters from CVH Capital Partners LLC, and it was formerly occupied by Thermo Fisher Scientific. The two-story facility sits on a 10.65-acre fenced site.
Sugar Land Economic Development and Tourism facilitated the company’s expansion, working with Frazer’s leadership and the city of Sugar Land on various incentive and financing options.
PEOPLE
Stream Realty Partners promoted Preston Young to national head of investor services. Young previously spearheaded national office investor services, but now assumes a broader role encompassing leadership of both the office and industrial sectors.
“I look forward to putting my diverse background in brokerage, development and acquisitions to work — providing a unique perspective on how to best serve our clients nationwide,” Young said in a news release.
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Mohr Partners, a corporate real estate advisory firm, hired Carlton Anderson as managing partner in its Houston office. Anderson will serve as one of the firm’s market leaders alongside fellow Managing Partner Kevin Barr. He will leverage his background in industrial leasing and acquisitions to support Mohr Partners’ business in the Houston market.
Prior to joining Mohr Partners, Anderson was a regional investment officer with EQT Exeter in Houston. There, he closed on over $230M in industrial assets during his three-year tenure. He also worked as a vice president of brokerage advisory services at CBRE for 14 years.
SALES
Hyde Park Commercial acquired an 8.68-acre industrial outside storage site off Munn Street near McCarty Road on the east side of Houston within the 610 Loop. The property was fully leased prior to closing. James Mashni and Patrick McKiernan from First Houston Properties represented the buyer and seller.
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Marcus & Millichap announced the sale of a 10.7K SF professional building at 4740 Ingersoll St. in Houston. The office property is situated off Richmond Avenue in the Afton Oaks/Upper Kirby submarket.
Alex Wolansky, Gus Lagos and Caroline Johnson of Marcus & Millichap exclusively represented the seller. Marcus & Millichap generated multiple offers, and the sale was awarded to an owner/user investor, who plans to occupy part of the building for its certified public accounting practice. The property was purchased in cash at 99% of list price.
LEASES
Fort Capital signed three leases for a total of 46K SF at Clear Lake Tech Center at 555 Forge River Road and 17146 Feather Craft Lane in Webster. The asset is now 98% occupied. The landlord, Fort Capital, was represented in-house by Ryan Young.
CONSTRUCTION & DEVELOPMENT
Hillwood Communities broke ground on its third Houston-area community, Legacy. The community between Interstate 45 and FM 528, just south of Friendswood Drive, spans more than 700 acres.
The Legacy name honors the Stedman West family, who once owned the land, and the Perot family, who launched Hillwood Communities. The first phase will consist of more than 500 homesites and future amenities will be connected through 60 acres of waterways with launch areas for kayaks and paddle boards.
Projected for full build-out within the next decade, the community will have about 1,600 homesites. There are proposed sites for an elementary school and recreation center.
Initial delivery of homesites is expected in the first quarter of 2025. Homes will range from $300K to more than $1M.
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Venterra Realty broke ground on a new multifamily complex, Camber Ridge at Cross Creek Ranch, in Fulshear. The 312-unit Class-A apartment community is part of Johnson Development Corp.’s Cross Creek Ranch, a master-planned community.
Amenities will include a clubroom, a pool, an outdoor lounge, a fitness center and coworking spaces. The first units are expected to deliver in the second quarter of 2025.
Venterra worked with Marc Kasner from Wilson Cribbs + Goren, who represented Venterra on the transaction, and Greg Pettigrew from Fifth Third Bank for construction financing. The architect for the development is Steinberg Dickey Collaborative. In addition, Domain Builders was chosen as the general contractor.
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Lovett Industrial and PCCP broke ground on the speculative Stafford Logistics Park, which will encompass two Class-A industrial buildings totaling 785K SF.
The buildings will include a 520K SF cross-dock warehouse and a 265K SF front-load warehouse, with 36-feet and 32-feet clear heights, respectively. The park will accommodate 190 trailer parking spaces and 380 general parking spaces.
The project is on one of the last remaining land assemblages of this size within Stafford, according to a news release. Marketing and leasing efforts will be handled by JLL’s Jarret Venghaus and Jordan Raney.
Simmons Bank is providing construction financing. Burton Construction is the general contractor, More Architecture is the lead architect and ALJ Lindsey is serving as the project’s civil engineer.
THIS & THAT
Oxland Group is opening a new corporate headquarters at 1401 Lake Plaza Drive in Spring, near its Two Step Farm flagship master-planned residential community in the Houston area. Oxland Group will operate from this location as well as its original headquarters in McKinney.
In 2023, Oxland purchased 1,860 acres of land to be developed into Two Step Farm in Montgomery County. The community will feature about 4,000 homes. In January, Oxland closed on a 960-acre tract in Sugar Land along with Pulte Homes and Taylor Morrison.
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Architecture and interior design firm Michael Hsu Office of Architecture is accepting proposals for its third annual Design for All Partnership. The practice seeks a new nonprofit partner that demonstrates a need for design services in the Austin or Houston area, where the firm has offices.
The request for proposals runs through May 3.
MHOA will develop a custom design package to suit its selected partner's needs. The partnership award will provide $20K in pro bono design and consultation services. Services may include visioning, site analysis, feasibility studies, master planning, site planning, conceptual design and architectural and interior design consultation.
To qualify, organizations must be registered as 501(c)(3) and should be within a 50-mile radius of the Austin or Houston metropolitan areas. Master planning projects should be 50 acres or smaller, and architecture and interior design projects should be smaller than 20K SF.
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Ember Real Estate Investment & Development announced the opening of the first model home park at The Grand Prairie in Hockley. The one- and two-story model homes highlight offerings from each of the community’s five builders, David Weekley Homes, Perry Homes, Sitterle Homes, Village Builders and Westin Homes.
The 1,730-acre master-planned community will have its grand opening on April 13. The initial phase of The Grand Prairie will include 481 homes, with the first closings slated for later this quarter.
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Allied Orion Group rebranded as AOG Living as its 40th anniversary nears. The multifamily real estate investment, construction and property management firm started in 1985 as two separate entities. Orion Real Estate Services was known for its property management expertise, while Allied Realty Services made a name for itself in the development and construction arenas. The two companies merged in 2001, creating Allied Orion Group.
The firm is headquartered in Houston with additional offices in Denver, Dallas and San Antonio. The new name embodies the group’s foundational values, cultural ethos and vision ahead of its 40th business anniversary, a news release states.
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The Houston District Council of the Urban Land Institute appointed Jason Tramonte Jr. as the incoming Houston district council chair. Tramonte will serve a two-year term and succeed Justin Levine, senior vice president and chief investment officer for Levcor.
Tramonte has been a ULI member for more than 20 years, serving in multiple leadership positions. Tramonte serves as owner and managing principal of Tramonte Design Studio, where he works on master-planning and ground-up build-to-suits.
