This Week's Houston Deal Sheet: Manvel Town Center Secures Second Retail Anchor
Lowe’s Home Improvement plans to open a 107K SF store with a 34K SF garden to be the second anchor of The Weitzman Group’s Manvel Town Center, a 273-acre project under construction at Highways 288 and 6.
The store is scheduled to open late this year.
The Weitzman leasing team of James Namken, Kyle Knight and Emily Guenther are working with nearly 70 submitted letters of intent from retailers for the development.
About 157K SF has already been built, and another 27K SF is expected to deliver next quarter. Manvel Town Center is designed to incorporate more than 1M SF of retail, entertainment, hospitality, medical and office space.
Other concepts at the project include Verizon, Supercuts, AT&T and Memorial Hermann-GoHealth Urgent Care. Milano Nails and Aki Steak & Sushi will open this spring.
PEOPLE
NAI Robert Lynn hired C.E. “Trey” Erwin III and Josh Carl to the firm’s industrial team. Erwin joins as executive vice president, bringing more than two decades of experience in port-of-entry locations and industrial outdoor storage.
Carl, as vice president, specializes in logistics real estate, particularly yards and distribution properties in port markets. Erwin and Carl came from Lee & Associates. NAIRL opened its Houston office in early 2023.
SALES
SPD Construction acquired 5 acres at 1213 Brittmoore Road in Houston with plans to develop an 18K SF, two-story building for its headquarters on the front 1.25-acre portion. The rest of the land will be made pad-ready and available for purchase.
Junction Commercial Real Estate’s Reed Vestal, John Erck and Quade Towers represented SPD.
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AS3 Solutions LLC purchased a 13K SF building at 15458 W. Hardy Road. Oxford Partners’ Perry Mazzone and Matt Rogers represented the buyer. Wyatt Huff of Partners Real Estate represented the seller.
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Fogelman Properties acquired The Fenwick, a 258-unit apartment community in Humble formerly known as Advenir at Eagle Creek. Fogelman acquired The Fenwick through a joint venture with Dallas-based Thackeray Partners.
Built in 2008, the complex is 91% occupied. Fogelman plans to upgrade the units and common areas.
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Nagin Investments LLC bought the 61-key Baymont by Wyndham Houston/Westchase at 2950 W. Sam Houston Parkway S. from American Liberty Hospitality. The property was built in 1995.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Kyle Peterek, Fadi Rawashdeh and Daneen Godinet participated in the transaction.
LEASES
Dynamax renewed its 10K SF lease at 10808 Fallstone Road. Oxford Partners’ Vincent Vega and Shelby Martin represented the tenant. Landlord HP Stonecrest LLC was represented by Thomas Pfeifer of Fort.
CONSTRUCTION AND DEVELOPMENT
Mac Haik Enterprises is renovating Energy Tower II, a Class-A office building at 11720 Katy Freeway in the Energy Plaza Office Park, after signing a 46K SF lease for an engineering firm. Planned renovations include a modernized fitness center, an expanded lobby, a tenant lounge, and a new dining and bar concept.
The renovations began in December, and completion is slated for September. The architect for the project is HOK, and the general contractor is E.E. Reed Construction. CBRE’s Bubba Harkins and Jenny Sealy lease the building on behalf of landlord Mac Haik Enterprises.
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Howard Hughes Holdings is developing a 51K SF build-to-suit medical office building for Memorial Hermann Health System in Bridgeland. This will be the first medical office in the master-planned community, which has plans for 1M SF of medical facilities.
The medical office building at the southwest corner of Tuckerton and Fry roads will have spaces for emergency services, primary care, pediatrics and sports medicine. Construction is expected to start this summer, with Tellepsen Builders and Powers Brown Architecture serving as the general contractor and architect for the project, respectively.
Memorial Hermann Health System was represented by Tony Armstrong with A.A. Armstrong Commercial Real Estate. Jacob Weersing with Capital Retail Properties represented Howard Hughes. JLL’s Tim Gregory and Kendall Kerr will lead medical leasing efforts.
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Transwestern Hospitality Group completed its multimillion-dollar renovation of the 121-suite Hotel Granduca in Uptown Park. The renovation transformed the lobby, the library, the event spaces and the garden courtyard.
The project also added Remi, a restaurant led by Episcope Hospitality and David Morton of the Morton Steakhouse legacy. The adjacent Bar Remi is a coffee bar by day and cocktail lounge by night.
Houston-based interior designer Kara Childress worked on the creative direction of the renovation.
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Angler Construction completed construction on WestPoint 45, a 728K SF industrial building it built in accordance with LEED guidelines. The 42-acre site in Northwest Houston has been developed for Vigavi Realty and Principal Asset Management. Seeberger Architecture is the lead architect, and Langan is the project’s civil engineer.
