The Deal Sheet
Katy Ranch Crossing Shopping Center announced its first pre-lease in Phase 2, and it’ll make you want to stand up and cheer. (We don't need much to want to do that though.)
Woodlands Elite Cheer leased 19k SF at the property, which sits at the SEC of I-10 W and Katy Fort Bend Road. JLM Commercial Advisors’ Mary Jo Giammalva repped the tenant and Evergreen Commercial’s Lilly Golden repped landlord Freeway Properties. Lilly tells us she was particularly thrilled to bring on the group—she was a University of Michigan cheerleader and hopes those trained at this facility will bring more to their college tryouts than she did (it was the '80s, and she says her squad was just good gymnasts with really big hair).
EXECS
Craig Trottier was named SVP at Trammell Crow Co. He will be responsible for sourcing and overseeing retail development and investment opportunities throughout Houston. He has over 25 years of industry experience. He was previously with CenterCal Properties in Salt Lake City; throughout his career he has overseen $1.2B of large retail and mixed-use development across the West.
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CoreNet Houston named its 2014/2015 Board of Directors. Gensler’s Dean Strombom was named prez (bumping JLL’s David Perryman to past president), and he’ll be followed by Balfour Beatty’s Dawn Landry as president-elect.
SALES
Caldwell Co’s Keith Grothaus closed two sales. He repped seller SVP Houston GC Land in disposing of 8.8 acres in Greens Crossing (Beltway 8 and Ella) and repped seller Metropolitan Baptist Church in disposing of a 32k SF building on 7 acres on Regency Green.
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Atlas Texas Development and Management purchased 111 acres on FM 2855 near FM 529. Caldwell Cos’ Keith Edwards, Clay Roper, and Daniel Greco repped seller The Maxwell Family Trust. The same trio repped seller Scottish Rite Benevolent Association in disposing of 22 acres at Beltway 8 and Settemont, and it repped the seller of 9.5 acres on Ella Boulevard to Cathedral of Faith Baptist Church. Herman Munster repped the buyer.
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A private 1031 investor purchased Arbor Square, a 56k SF business park at 17000 El Camino Real. Marcus & Millichap’s Justin Miller marketed the property; his colleague Derek Hargrove repped the buyer. The asset generated interest from both local and out-of-state investors.
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A low-leverage 1031 buyer out of San Antonio purchased Greenbriar North Center, an 85k SF grocery-anchored shopping center. Marcus & Millichap’s Derek Hargrove and Justin Miller listed the property at $7.5M for seller The Marcel Group.
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Kode Properties purchased a pad site for a retail strip center at Highway 146 and Devinwood in Baytown. Texas First Bank was the seller. Claire Sinclair Properties’ Wade Sinclair facilitated.
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A specialty metals manufacturing company purchased a 13k SF industrial building at 1007 Buschong St. Coldwell Banker’s David Hummell repped the buyer.
LEASES
Liquid Metal Coatings leased Louetta Business Park Building 1, a recently-completed 15k SF building. It’s 20-ton crane capable and includes 1,500 SF of office space. Finial Group has begun preleasing/pre-selling Buildings 2 and 3, which are under construction and 15k SF each. They will be shell complete by summer. The three facilities are identical and offer large truck courts that can be converted into additional parking for office users. The remaining land is large enough to offer BTS facilities from 15k to 150k SF.
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Gardner Denver leased 15k SF of office space at 785 Greens Parkway. Cypressbrook Co’s Jim Cooper repped the tenant and Moody National’s Stephen Woods repped the landlord.
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Oil Patch Technologies leased 25k SF of flex space at 1428 N. Sam Houston Parkway E. Cypressbrook Co’s Joyce Sterling repped the tenant and Liberty Property Trust’s Christie Weiss repped the landlord.
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Marrone & Co (dba Cold Shot Chillers) leased a 23k SF industrial building at 2730 Maximilian Street (in Interbelt North Business Center). Don White & Co Realtors’ Dan White and David White repped landlord D&KW Properties V.
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Rudy’s BBQ joined River Pointe Center in Sugar Land. This is the chain’s fifth restaurant in greater Houston. Transwestern’s Tony Armstrong repped the landlord.
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Blinds.com doubled its lease at 10255 Richmond Ave to 55k SF. The firm, founded and HQ’d in Houston, merged with The Home Depot in January, which caused it to expand here after just 16 months of occupancy. It built out a modern and collaborative office that includes lounges, a table tennis area, water features, and themed conference rooms. CBRE’s Steve Rocher, Kristen Rabel, and Parker Duffie repped landlord BMS Management. United Equities’ Doug Freedman repped the tenant.
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Titan Fitness (dba Fitness Connection) leased 46k SF in Fondren Road Plaza. The landlord is Hartman Short Term Income Properties XIX.
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RL Building Supply leased 36k SF in 8615 N Loop E. Cushman & Wakefield’s Jim Foreman and Beau Kaleel repped landlord Porteous Realty Investment. Champions Real Estate Group’s Kimberly Turner repped the tenant.
DEVELOPMENT
Copeland Commercial and Hillwood Investment Properties are breaking ground next month on Interstate Commerce Center, a 718k SF master-planned office and logistics park. It’s located just south of FM 1960 with access and visibility to I-45. Phase 1 is two buildings totaling 414k SF: a 32’ clear, 284k SF cross-dock building and a 28’ clear, 130k SF front-load building. Both will deliver in Q4. Phase 2 will be built on 21 acres, either as spec or BTS. Stream’s Matteson Hamilton and Jeremy Lumbreras are overseeing leasing—they can accommodate users from 29k SF to 284k SF.
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FMC Technologies broke ground on Phase 1 of its Generation Park campus. Above, Trammell Crow’s George Farish, FMC’s Bob Suttles, DE Harvey’s Lohn Zylicz, DE Harvey’s David Harvey, Trammell Crow’s Jim Casey, DE Harvey’s Joe Cleary, Gensler’s Dean Strombom, Gensler’s CK Pang, and Trammell Crow’s Zeena Pinto celebrated the groundbreaking. Trammell Crow is managing development of the campus. Phase 1 consists of six primary buildings totaling more than 1M SF of office, workshop, and warehouse space. It spans 71 acres, leaving FMC with 102 acres for future development. 1,800 of FMC’s 3,700 Houston employees will move into Phase 1. Also on the FMC project team: Codd Fendley, Clark Condon, Cardno Haynes Whaley, and Wylie.
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Crescent selected Balfour Beatty as GC for 6 Houston Center (above, how it’ll look from 59). The 30-story, 600k SF Class-AA office building will break ground this summer. JLL’s Chrissy Wilson is handling pre-leasing.
THIS AND THAT
Asset Plus was awarded management of Park at Voss Apartments, an 810-unit community west of The Galleria. It was built in 1971 and includes unique amenities including an onsite convenience store, dog groomer, and full-time caterer in the club house. The property is undergoing renovations but has secured an average of 12 leases each week despite three rent increases and new construction competition throughout the neighborhood.
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PMRG was selected as exclusive leasing agent for Younan Tower, a Class-A, 10-story, 165k SF office building at 2350 N. Sam Houston Pkwy E. Marci Phillips and Mike Martin will lead marketing. With Southwestern Energy moving to its Springwoods Village campus in Q1 ’15, the building as 120k SF (seven full floors plus space on the first floor) coming available. The property recently received some landscaping/outdoor upgrades and just launched a major exterior, lobby, and elevator renovation.
