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The Deal Sheet HOU 11/12/13
   
November 12, 2013
 
 

The Deal Sheet


6655 Travis is located in a quiet neighborhood directly across the street from the Texas Medical Center. With up to 14k SF contiguous office/medical space available for lease, 6655 Travis has a conferencing facility & fitness center. Click here or see ad across.

The Houston Area Safety Council (HASC) is opening its expansive new training campus tomorrow. (They're putting danger... in danger. You can use that for bumper stickers, HASC, on the house.)

HASC_Front_Building
It's the culmination of a two-year initiative to expand safety training capabilities to meet the growing needs of petrochem, space, and food industries. Here's the main facility, a 65k SF training building in Pasadena. It's seeking LEED cert, designed by Kirksey, and built by Tellepsen. Kirksey lead designer Scott Cutlip tells us the biggest challenge was incorporating all the unique programmatic requirements, including a 220-seat auditorium, meeting spaces, computer labs with 650 workstations, classrooms, distinct study areas, and parking for over 1,000 vehicles. Scott tells us he also had to plan for future expansion—HASC has 34 acres to work with. HASC currently trains an average of 1,600 people daily.

EXECUTIVE MOVES

Hines promoted three execs in its conceptual construction group. Thomas Bay, David Robinson, and Jay Wyper were named SVPs.

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CBRE's Rima Soroka was promoted to VP. She specializes in the marketing and leasing of office buildings and is currently responsible for a 2.6M SF portfolio throughout the Greater Houston area.

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Nelson Udstuen joined CBRE as VP of the healthcare services group. He will be responsible for lease negotiation, site selection, disposition, financial analysis, and development of healthcare-related brokerage.

SALES

Fry-529 Development Corp purchased 22 acres at (where else?) the SEC of Fry Road and FM 529. It plans to develop a grocery-anchored retail center there. Colliers' Chris Winters and Bill Byrd repped the seller, Eastbourne Fry-529. It is also listing an adjoining 16 acres, which Chris believes will sell shortly thanks to new demand from the Grand Parkway and residential growth in the northwest corridor.

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Enerflex Energy Systems purchased 31 acres in Telge Industrial Park from Wyman-Gordon Forgings. Cushman & Wakefield's John Littman, Kelley Parker, Coe Parker, and Tim Thomas repped the seller.

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SEV Staffing bought 12 acres on I-10 between Crosby Cedar Bayou and Sjolander Road in Baytown. The seller was Four-T Management. Claire Sinclair Properties' Wade Sinclair facilitated.

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United Surgical Partners International purchased 5.3 acres on the northwest corner of Beltway 8 and Preston Road in Pasadena to build a 50k SF surgery center.

LEASING

Mogen Furniture leased 18k SF of industrial space at 2335 Minimax. ICO Commercial's Payton Indermuehle repped the tenant and Stream's Jeremy Lumbreras and Matteson Hamilton repped landlord Agellan Capital Partners.

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Web Plastics Co leased 11k SF of flex/distribution space at 10335 Landsbury. iCORE Global's Will Florence repped the tenant and Vince Strake repped landlord Big Houston-SW.

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Nobe Nash leased 61k SF in Corporate Centre Shepherd for its HQ. WA Development's David R David repped the landlord in-house and Belvoir Real Estate Group's Matthew Goldsby repped the tenant.

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Ace Insurance Co extended its 30k SF lease at 2 Riverway. Stream's Ryan Bishop and Adam Jackson repped the landlord.

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Cameron Solutions expanded to 24k SF in Westway One. Stream's Brad Fricks repped the landlord.

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Stockbridge expanded to 17k SF in Griggs Industrial Park. Stream's Matteson Hamilton and Jeremy Lumbreras repped the tenant.

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NAI Houston's Jason Whittington and Chris Caudill repped Tomball Regional Medical Centers and its affiliates in several leases totaling 35k SF. That includes 11k SF for an outpatient services facility at the Magnolia Landmark Building (Woodlands Commercial Realty's Ross Foldetta repped the landlord) and smaller locations at James Place Medical Complex, The Plazas at Lakewood Forest, Tomball Healthcare and Cancer Traetment Center, and Tomball Medical Plaza.

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Revention POS Systems leased 24k SF of office space at Westview Business Park. NAI Houston's Griff Bandy and Jon Silberman repped the tenant and Caldwell Cos' Andy Havel repped the landlord.

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S&S Tool & Supply leased 13k SF of warehouse/distribution space at Gulfport II Distribution Center. NAI Houston's Darren O'Conor repped the tenant and Boyd Commercial's David Munson repped the landlord, First Industrial Texas.

CONSTRUCTION & DEVELOPMENT

CGG-1
CGG broke ground on the latest phase of its 19-acre campus, a 107k SF office building and 193k SF parking garage. The office project will deliver in fall 2014 and is striving for LEED Silver. Already in place are two 163k SF office buildings with an interconnecting warehouse/shop, a 92k SF office building, and 5,500 SF dining facility. Ziegler Cooper first did a master plan for the campus in 2000, preparing for 20 to 30 years of growth.

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Noltex broke ground on a $180M expansion in La Porte's Battleground Industrial District. Construction will be completed by October 2014.

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WIKA Process Solutions purchased 13 acres on Beltway Green Boulevard in Pasadena for its new hub. The 88k SF, two-story building will be half office and half crane-served warehouse. GSL Welcome Group is developing the facility in Park 225 Business Park.

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Plant Maintenance Services purchased 18 acres on Genoa Red Bluff Road in Pasadena to build an 80k SF office and manufacturing facility. JLL's Mark Nicholas facilitated.

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GSL Welcome Group broke ground on a 15k SF spec building in Bayport North Industrial Park. It's identical to a building the firm delivered spec earlier this year, which has been leased by Tracerco. The new project will deliver in the first half of 2014 and be ten-ton crane ready with 26' eave height.

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Satterfield & Pontikes was awarded two projects from the HISD's 2012 bond program, the replacement of Lee High School and construction of a new Mandarin Chinese Language Immersion School. Lee was originally built in 1962; the $44M replacement project is designed by WHR Architects and will break ground in late 2014. The Mandarin Chinese project (formerly Gordon Elementary) will be built on an existing campus. It's a $19M facility designed by PBK and will eventually become a K-8 campus to produce bilingual students. Construction will begin mid-2014.

FINANCING

BMC Capital's Tony Talamas arranged a $4.7M refi for a 141-unit multifamily property in Pearland. The loan featured a five-year fixed-rate at 4.75% and a 30-year amo.

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Briar Club master plan rendering
Grandbridge closed a $17M first mortgage loan secured by the iconic Briar Club, a 56k SF private rec and social club inside the Loop. Funding was through a life insurance company and features a 15-year term and 36 months of I/O payments followed by a 20-year amo. The loan has a fixed interest rate of 5%. The Briar Club is using it to consolidate debt and capitalize its extensive planned renovations.

THIS AND THAT

Capital One completed its acquisition of Beech Street Capital. Beech Street was founded in '09 and originated $4B in loans last year along, making it the sixth-largest agency originator in the country. It services a $10B loan portfolio. The combined company is now among the top five multifamily originators nationwide.


Your Grandkids Won't Be Able to Answer This

Teacher cleaning chalkboard with duster
Yesterday we asked what looks whiter as it gets dirtier. The answer is a chalkboard. (Do those even still exist?) Digital Air Control's Manny Fontanez was the first to respond, winning a ticket to Bisnow's Future of Uptown event. The best answer actually came from our reporter's father (yes, he reads us), who suggested Richie Incognito. Since we'll have to wait until Thanksgiving for his visit, we're awarding our other ticket to Caldwell Cos' William Hatfield for his thought-provoking suggestion, "a lie."

"If the Vikings were around today, they would probably be amazed at how much glow-in-the-dark stuff we have, and how we take so much of it for granted." - Jack Handey. Send your news to Catie Dixon, catie@bisnow.com.

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