The Deal Sheet
JJ Business Park just delivered three buildings near Baker Hughes' new development. (Finally, its groupies will have a place to get ready.) It's near almost every buzzword these days: The Woodlands, Exxon, and the Grand Parkway.
Newcor CRE's Krissie Vanyo and Rob Banzhaf are leasing the property, which totals 39k SF. No tenants have signed yet, but they tell us there are several deals close. The gated office/warehouse development sits on 2.5 acres in Magnolia and has availabilities from 800 to 12k SF.
EXECUTIVE MOVES
Hines promoted three execs: Philip Croker to managing director, Palmer Letzerich to senior managing director, and Travis Overall to senior managing director. Philip is leading the development of 609 Main at Texas, Palmer oversees the firm’s southwest industrial and Mexico/Panama platforms, and Travis is leading development of 2229 San Felipe.
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Kim Nelson joined Read King as COO. She has 20 years of experience and previously served as CFO for a commercial construction company.
SALES
Richter Family Partnership purchased 34 acres of industrial land in the Kilgore Industrial Park in Baytown. Cushman & Wakefield’s Kelley Parker, John Littman, Coe Parker, and Tim Thomas repped the buyer and Combs Commercial’s Billy Combs repped seller Joseph Kilgore Heirs.
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Kimco purchased Tomball Crossing, a 164k SF retail power center in Tomball. HFF’s Ryan West and Rusty Tamlyn repped seller MetroNational. The North Cypress ER pad site was not included in the deal—it sold to North Cypress Medical Center. The property is 94% leased.
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MRPR Properties purchased 1.5 acres at 531 E Louetta Rd. Newcor CRE’s David Alexander repped seller Louetta Chase and Keller Williams’ OJ Bobek repped the buyer.
LEASES
Sinopec Tech Houston leased 12k SF at 3050 Post Oak Blvd. CBRE’s Cody Armbrister and Rima Soroka repped landlord Lopo, and Shirley Mei Qing repped the tenant.
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Mercuria Energy Trading leased 27k SF at 20 Greenway Plaza. Cushman & Wakefield’s Chris Oliver repped the tenant and CBRE’s Cody Armbrister and Steve Rocher repped the landlord.
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Sprint Safety leased a 31k SF warehouse/distributions pace at Fairmont Industrial Center in La Porte. NAI Houston’s Jason Whittington repped the tenant and JLL’s Richard Quarles repped landlord Vigavi Realty. The new crane-ready building is the first phase of Vigavi’s industrial development.
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Texan Bank leased 15k SF at 12941 Gulf Freeway for its corporate HQ. The bank will occupy most of the two-story, Class-A, LEED Platinum building. Finial Group’s Reed Vestal, Taylor Schmidt, and Greg Marconi repped both parties.
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Allconnect Inc leased 12k SF at 5333 Westheimer. CBRE’s Steve Rocher, Kristen Rabel, and Parker Duffie repped the landlord and Jackson Cooksey’s Joshua Brown repped the tenant. The CBRE team also repped the landlord at 4550 Post Oak Place in an 11k SF expansion to Wallace Garcia Wilson Architects. Kistler McGlothlin’s Michele McGlothlin repped the tenant.
DEVELOPMENT
Fort Bend County Pinnacle Senior Center completed construction and is celebrating its grand opening Friday. The property was a joint project between Fort Bend and the City of Houston Housing and Community Development. The 10k SF LEED facility is a first for the county and includes an exercise room, Internet café, library, kitchen, and dental and wellness clinics. It’s free for Fort Bend and Houston residents over 50.
FINANCING
HFF’s Kevin MacKenzie, John Chun, Stephen Skok, Tucker Knight, and Michael Klein arranged $111M in financing for a five-property office and industrial portfolio. The team repped Griffin Capital and five single-purpose borrowing entities to arrange the 15-year, 4.96%, non-recourse, fixed-rate loan through two life companies. Proceeds were used to pay down an existing credit facility and secure long-term financing at 60% LTV. The portfolio spans 890k SF in New Jersey, North Carolina, Ohio, Texas, and Arizona and locally includes the 150k SF Schlumberger Building.
THIS AND THAT
McCarthy Holdings is celebrating its 150th anniversary this month, making it one of the oldest American-owned construction companies. It has operated in Texas for 35 years. The firm is building a number of major projects now, including the MD Anderson Cancer Center The Pavilion expansion and the Hyatt Regency Houston.
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KM Realty Advisors relocated to 6363 Woodway Dr.
