This Week's Houston Deal Sheet: Vault Partners Fully Pre-Leases 185K SF Industrial Project
A New Jersey-based auto parts distributor pre-leased the 185K SF Vault Distribution Center, a development by Vault Partners, a Houston-based real estate development and strategy firm.
The industrial property is at 13612 Furman Road in Houston. Stream Realty Partners’ Tyler Maner and Woody Hillyer served as leasing agents on behalf of Vault Partners, and the tenant was represented by a third party.
Delivering early this month, the Vault Distribution Center is at the intersection of Beltway 8 and Highway 288. The rear-load warehouse sits on a little over 12 acres and offers 137 surface parking spaces, 23 trailer spots, 34 loading docks, Early Suppression, Fast Response sprinklers and 32-foot ceiling heights.
PEOPLE
CBRE promoted Wes McBrayer to Texas leader of the CBRE valuation and advisory services special use industrial valuations team, specializing in the valuation of industrial and special-use properties. Prior to his promotion to practice leader, he managed the special-use industrial valuations team.
McBrayer has been in the commercial real estate industry for more than 17 years and started at CBRE in 2018. He is based in CBRE’s Houston office.
SALES
Jared Pinto at Newman Kelly Real Estate represented the seller of an 18K SF multitenant industrial property at 7007 Belgold St. in Houston. The deal closed in 45 days. The buyer was a local investor. The seller is based in California.
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Pinto also represented the buyer of an 18K SF multitenant industrial property at 312 Bob Smith Road in Baytown. The deal closed in 40 days. The property has 2 acres of excess land where the buyer intends to build an additional warehouse. The buyer was a local investor, and the seller is based in Florida.
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ECI Group sold The Columns at Westchase apartments to Mosaic Residential. The 318-unit community at 3354 Rogerdale Road in Houston was built in 1999 and acquired by ECI in 2018. ECI completed major renovations to the interiors, exteriors and community amenities.
Renovations were made to the clubhouse and leasing office, pool, fitness center and barbecue pavilion, as well as to unit exteriors, roofs and landscaping. The apartments have new lighting, flooring, cabinetry, granite countertops, and washers and dryers.
David Mitchell at Newmark represented the seller.
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35 South Capital acquired Village Place Apartments, a 13-building, 84-unit property in the Hedwig Village neighborhood of Houston. This will be the first change in ownership in over three decades, as the complex was owned by the previous landlord for 33 years. Terms of the deal weren't disclosed.
Village Place Apartments marks the sixth property acquisition secured through 35 South Capital’s Front Porch Fund II. 35 South Capital tapped into its relationship with real estate firm Newmark to acquire the off-market property, according to a news release.
Stewart Title and Independent Financial helped to close the transaction.
LEASES
EōS Fitness leased 40K SF of retail space in Fort Bend Town Center Phase 2 at the intersection of Highway 6 and Fort Bend Tollway in Missouri City from NewQuest Properties. Bob Conwell and Andrew Alvis of NewQuest Properties represented the landlord. Jason Baker of Baker Katz represented the tenant.
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CoCo Bella Hair and Beauty leased 12K SF of retail space in Fort Bend Town Center Phase 1 at the intersection of Highway 6 and Fort Bend Tollway in Missouri City from NewQuest Properties. NewQuest's Conwell and Alvis represented the landlord. Joanna Temple Johnston of Temple Commercial Realty represented the tenant.
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Partners Real Estate arranged a 17K SF lease with Tecmag at 3630-3668 Westchase Drive in Houston. Partners’ Jon Silberman and Pierce Beyer represented the tenant. The landlord, Link Logistics, was represented by Boone Smith with Stream Realty Partners.
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Fort Capital renewed an 11K SF lease at 2523 Fairway Park Drive in Houston for Deem LLC. Cam Kucic, Walker Barnett and Ryan Byrd with Colliers International represented the tenant. The landlord, Fort Capital, was represented by internal Leasing Manager Thomas Pfeifer.
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K&R Mechanical Services signed a renewal for 14K SF at 12638 Haynes Road in Houston. The landlord, Fort Capital, was represented by internal Leasing Manager Ryan Young.
THIS AND THAT
New Home Co. expanded into Texas with the acquisition of Hamilton Thomas Homes, a privately owned business that operates in the Houston and Austin markets. Hamilton Thomas was founded in 2021 and is led by veteran homebuilding executives John Bohnen and Jennifer Keller. Both will lead the newly formed Texas region of New Home Co.
New Home Co. assumed a portfolio of about 2,000 lots owned and controlled by Hamilton Thomas, representing an estimated 12 new communities. The company operates three communities in Houston, and its first two Austin communities are anticipated to open in early 2024.
Bohnen was formerly an area president for Taylor Morrison Homes, the nation's fifth-largest homebuilder. Keller previously served as division president for William Lyon Homes, chief operating office for Land Tejas Cos. and a senior manager at KB Home and AECOM.
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Melvalean McLemore, Texas studio design leader and project manager at Moody Nolan, became the first Black female president of the American Institute of Architects Houston chapter. The city of Houston recognized her achievement with a mayoral proclamation before city council on Tuesday.
McLemore, who has been a member of the Moody Nolan Houston team for nearly five years, is among the first 500 Black women licensed in the country and was the 16th licensed in Texas.
McLemore has 15 years of architectural experience. She helped Moody Nolan Houston strategize, develop, compete for and win multiple projects, including Texas Southern University Library Learning Center and the new Texas Southern University Transformation Complex. She also worked on the Greentown Labs in Houston's Ion District, where she served as the owner's representative.
