This Week's Houston Deal Sheet: 2 Companies Sign HQ Leases At Corporate Centre
Corporate Centre, a trio of buildings within Westway Park in west Houston, announced 66K SF of new office leases for two corporate headquarters.
US Med-Equip, a medical equipment rental, sales and service company, signed a 34K SF lease at 4920 Westway Park Blvd., with Cory Sleeth from NAI Global Corporate Solutions and John Ferruzzo from Transwestern representing the tenant.
Keystone Advisors, an independent insurance brokerage, secured a 32K SF lease at 10900 Corporate Centre Drive, with Josh Marcell and Anthony Porraz from Moody Rambin representing the tenant.
Scott Fikes, Matt Pruitt and Christian Canion of JLL are the leasing agents for the property and represented the landlord, Agellan Commercial REIT, in both transactions.
Agellan Commercial REIT is initiating a renovation project at 4920 Westway Park, which is set to finish in the second quarter. The planned enhancements include a lobby renovation, the addition of a conferencing center and a grab-and-go food option.
PEOPLE
Cushman & Wakefield hired David Munson as an executive managing director in Houston, where he will concentrate on landlord and tenant leasing transactions as well as investment sales in the Houston area.
Munson joins Cushman & Wakefield from Boyd Commercial, where he was a principal and closed transactions valued at more than $300M. He began his career in Houston industrial real estate as a leasing director with First Industrial.
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The Signorelli Co. hired Kim Croley as senior vice president of marketing. Croley brings nearly 25 years of commercial real estate marketing and communications experience to the new role.
Croley had an 18-year tenure with Transwestern, most recently serving as chief marketing officer.
SALES
Katy Promise Joint Venture sold 9.37 acres at the intersection of Colonial Parkway and Park West Green Drive in Katy to Heights Colonial LP. Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the seller. City Choice Realty used in-house representation.
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Partners Real Estate arranged the sale of 2.91 acres at Brookhollow West Business Park. Partners’ Travis Land represented the seller, Brookhollow Development LLC, which is a related entity of United Equities. Joseph Smith and Savannah Smith of CBRE represented the buyer.
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Houston-based Wayside Investment Group bought the 96-key Beachcomber Inn. HVS Brokerage & Advisory team members Andrew Frosch, Joseph Manuel, Kyle Peterek and Fadi Rawashdeh participated in the transaction.
The property at 2825 61st St. in Galveston was built in 1987.
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NewQuest Properties sold a 20-acre tract to Costco Wholesale Corp. in the Grand at Aliana in Richmond, jump-starting immediate construction on a third development phase with the retailer as the anchor.
Costco, with a 154K SF store under construction, is planning a summer opening of its third membership warehouse in Fort Bend County. The project kicks off NewQuest's 250K SF expansion of the Grand at Aliana, a 400K SF mixed-use development with nearly a mile of frontage on Grand Parkway.
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Marcus & Millichap announced the sale of Humble Park Place, a 21K SF retail center at 8790 FM 1960 Bypass Road W in Humble. The shopping center features a tenant mix that includes Lenny’s Subs and United Energy Credit Union.
Alex Wolansky and Gus Lagos of the Lagos Retail Group at Marcus & Millichap represented the buyer, a local private investor. The undisclosed buyer has plans to lease the shopping center’s one vacancy.
LEASES
CBRE arranged a 52K SF office lease for CobbFendley & Associates at Westway II, located at 4424 W. Sam Houston Parkway N in Houston. The Texas-based infrastructure consulting firm is relocating its headquarters from 13430 Northwest Freeway.
CBRE’s Abby Alford and Lucian Bukowski represented CobbFendley. Chip Colvill with Cushman & Wakefield represented the landlord.
CobbFendley signed a 10-year lease and will occupy two floors in the building. The new office space will feature a modern design. The general contractor for the project was Arch-Con Corp., and the architect was Kirksey.
Westway II is a 10-story Class-A office building near Houston’s Energy Corridor.
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Partners Real Estate arranged a 33K SF industrial lease with Invacor Solutions LLC at 6230 Bingle Road in Houston.
Partners’ Michael Keegan and Andrew Laycock represented the landlord, ValvTechnologies. Sarah Teel with MSL Investments represented the tenant.
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Cushman & Wakefield represented owner Unilev Management in leasing a full floor, 16K SF Class-A office space to Chariot Energy at Galleria Tower 2 in Houston.
Cushman & Wakefield’s Brad Beasley and Win Haggard represented ownership, while Nick Bockhorn and Cameran Lindee of CBRE represented the tenant.
Chariot Energy, which leased the 14th floor, plans to relocate to Galleria Tower 2 from Williams Tower in the beginning of 2024.
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Savills completed a long-term, 135K SF lease transaction on behalf of Tigerhawk Logistics. The Houston-based, privately held container logistics provider is the first tenant at the newly opened Class-A Portside Logistics Center at 4908 Borusan Road in Baytown.
Tigerhawk was seeking a new location near Port Houston that provided immediate occupancy and allowed for expansion. Savills’ Grant Hortenstine and Pearce Martens represented Tigerhawk.
Stream Realty's Tyler Maner and Jeremy Lumbreras serve as the leasing agents for the project.
Portside Logistics Center is a 1M SF industrial facility in southeast Houston.
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Katie Keys of Junction Commercial Real Estate represented an undisclosed buyer in the purchase of a 10K SF industrial building on 2 acres at 250 N. Witter St. in Pasadena. Along with the purchase, Keys negotiated a long-term leaseback with the undisclosed seller, represented by Ed Frantz of CBRE.
CONSTRUCTION AND DEVELOPMENT
Wayfinder Real Estate and Read King Commercial Real Estate broke ground on a 348-unit multifamily community in Katy that is expected to open in early 2025. The Oak at Katy Park, located at 24720 Morton Ranch Road, is part of a 54-acre master-planned project, The Market at Katy Park. H-E-B will anchor the project with a 120K SF grocery store scheduled to open early next year.
Amenities will include a resort-style pool, pickleball court, coworking space, a sauna, outdoor kitchens, grilling areas and a fitness center.
The project team includes OHT Partners as the general contractor, Meeks + Partners as the architect, Norris Design as the landscape architect and Wayfinder Design as the interior designer.
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Concept Neighborhood, the Houston-based real estate investment, development and management company behind The Plant in Second Ward, executed a 22K SF lease at 3100 Canal St. with Crux Climbing Center, an Austin-based climbing and fitness gym. Opening in 2025, Crux Climbing Center’s East End outpost will be the gym’s fourth location and its first outside of Austin.
Crux Climbing Center’s Second Ward facility will include bouldering, strength training, fitness and yoga classes. It will be outfitted with a sauna, locker rooms, a dedicated kids area and coworking space.
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The Signorelli Co. and its homebuilding division, First America Homes, completed eight duplexes that will provide homes for 32 at-risk youths in Conroe. The residents will move in as soon as this month.
The duplexes will enable nonprofit Angel Reach to provide shelter and support services for 32 more 16-to-24-year-olds who have aged out of the foster care system or need housing and services due to other life circumstances. When finished, this phase of Angel Reach Village will have a total of 16 duplexes sheltering 64 youths. The Signorelli Co. is the lead developer for the village, which is now over 80% complete.
The village duplexes each contain two 550 SF units with two bedrooms and a bathroom. Each unit is designed to accommodate two youths, with the first residents expected to move in by mid-December.
THIS AND THAT
Ryan, a tax services and software provider, acquired Morrison & Head, a property tax consulting firm serving clients across Texas, with offices in Austin and Houston. Co-founded in 2001 by Chet Morrison and Ray Head, Morrison & Head provides property tax compliance and consulting services.
The acquisition adds Morrison & Head partners Steve Laas and Kelli Morrison as principals in Ryan’s property tax practice. Both bring decades of experience in property tax consulting for owners of commercial real estate. Morrison, Morrison & Head’s co-founder, will also join Ryan to assist with the transition.
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Levcor, a commercial real estate owner, operator and developer, announced the addition of new experience-based retailers and restaurants and the completion of Regal Edwards’ extensive renovation at MarqE — an outdoor shopping center with shops, restaurants and services near Memorial in the Spring Branch District.
One of the additions is Sloomoo Institute, an immersive experience that taps into the joy of slime and multisensory play. Sloomoo signed a 23K SF lease for what will become its fourth flagship in the U.S.
Regal Edwards began its renovations on the 23-auditorium cinema in August 2022. Improvements include a new lobby experience, enhanced theater interiors and upgraded seating, new audiovisual equipment, new Imax experiences and exterior upgrades.
