This Week's Houston Deal Sheet: National CRE Firm Opens Houston Affiliate Office
Sperry, a commercial real estate firm specializing in investment sales, leasing, business brokerage, property management and CRE investment, added a new affiliate office in Houston. The office, Sperry-MTX Commercial, will be led by Al Karmali and Ian O’Connor.
Karmali, owner of Sperry-MTX Commercial, is also president and CEO of DFW Hospitality Group, Texas Energy Inc., Sterling Global Resources/Sterling Equity Partners, Alyah Holdings Inc. and Karmali Holdings Inc.
O’Connor, managing director of Sperry-MTX Commercial, previously worked in real estate development and brokerage for Shamrock Rental Properties and The Woodmont Co. Ladena Odom will also join Sperry-MTX Commercial as part of the executive management team serving as the designated broker assisting with operations and compliance.
The new office will specialize in leasing and investment sales of commercial real estate in the Dallas-Fort Worth and Houston markets.
“We are aggressively and strategically looking to expand throughout the United States and internationally,” Sperry Global President Mark Hinkins said in a news release.
PEOPLE
Newmark hired David Claros as executive managing director in its Houston office, adding to the firm’s land services team in Texas. Claros will focus on industrial land and investment sales across Texas metropolitan areas, including Houston, Austin-San Antonio and Dallas-Fort Worth.
Claros has a decade of experience spearheading industrial land acquisitions, dispositions and development projects for developers, landowners and investors. Most recently, Claros served as senior director at Dosch Marshall Real Estate.
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Transwestern Real Estate Services hired Ravi Bajaj as manager of sustainability and ESG. Bajaj will build and implement environmental programs that enhance the performance and value of client and investor assets. This includes outlining objectives and tactics, establishing policies and key performance indicators, and engaging stakeholders to promote environmental, social and governance initiatives.
Before joining Transwestern, Bajaj was the founding principal of Citadel EHS' ESG and sustainability practice area.
SALES
Longpoint Realty Partners acquired Mason Village Shopping Center, a 96K SF shopping center in West Houston, from DNA Partners. The center is anchored by La Michoacana Meat Market, a grocer with more than 200 stores statewide. In addition to local tenants, the center is home to national brands like Harbor Freight Tools, Freebirds, Jiffy Lube and Jason’s Deli.
The shopping center is at the intersection of Mason Road and Interstate 10. It has value-add opportunities since in-place rents average 24% below market, and 14 of the 27 tenants have leases expiring without fixed-rate options.
JLL’s investment sales and advisory team, led by Ryan West, John Indelli and Clay Anderson, represented DNA Partners.
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Barkley Development sold a 14-acre suburban infill project at the intersection of Cullen Boulevard and Fite Road in Pearland. Barkley acquired the vacant land in late 2023 and completed horizontal construction, including essential infrastructure, a recreation and playground area, and more than 100 trees.
The company created a planned unit development, divided the land into 109 finished lots and worked with Pearland officials to rezone the property from commercial to residential use. Barkley Development sold the land to a local developer who plans a build-to-rent development.
The company has two additional sites under contract for the development of for-sale homes in the Pearland area.
LEASES
Oxford Partners represented PG Sealing Technologies in the lease of 13K SF at 909 Shaver St. in Pasadena. Oxford Partners’ Garth Plyler represented the tenant. The landlord, ERHR Realty, was represented by Jason Kieschnick of Zann Commercial.
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Industrial equipment supplier TMEIC Corp. will move its headquarters from Roanoke, Virginia, to Houston with a 40K SF lease at Eldridge Oaks, an office building at 1080 Eldridge Parkway in Houston’s Energy Corridor. Stream Realty Partners’ Weldon Martin and Matthew Seliger represented TMEIC.
Consor Engineers also leased 26K SF at Eldridge Oaks and will relocate from 15340 Park Row Blvd. Taylor Wright of Colliers represented Consor.
Gulf Interstate Engineering expanded in the building, leasing 7K SF, and was represented by Beau Bellow of JLL. Gulf Cos. now occupies 59K SF at Eldridge Oaks.
Stream’s Brad Fricks and Matt Asvestas represented the landlord, an affiliate of Broadshore Capital Partners. Recent leasing transactions at Eldridge Oaks total 97K SF, according to a news release.
CONSTRUCTION AND DEVELOPMENT
Triten Real Estate Partners broke ground on a 171K SF distribution center in the North Houston submarket. McKay Road Distribution Center, a speculative, front-load facility, will target one to three tenants ranging from 50K SF to 171K SF.
Property amenities will include two speculative end-cap offices, two ramps, trailer parking, fenced truck courts for secure outdoor storage, and 41 dock-high doors. Jason Dillee, Cape Bell and Savannah Smith of CBRE are spearheading the leasing efforts for the new distribution center.
Angler Construction is the general contractor, Grey Wolf Engineers is the civil engineer of record, and Method Architecture is the architect of record. McKay Road is expected to be completed by summer 2025.
