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January 12, 2011 
 
 
IN MEMORY

Over 200 RSVP'd for the Future of Fort Bend County. Don't miss out—a little more than two weeks left until our all-star panel dives into the area's hottest RE issues. Sign up today!

 

Bisnow expresses its sincerest condolences to the family and friends of Jim Crowley, first president of the Houston/Gulf Coast CCIM Chapter.

 
Jim Crowley

Jim, president of Crowley/Sprinkle and Exchangers Intermediary Service, passed away on Dec 23 with his family at his bedside. He received his CCIM designation in 1976, was chapter prez in '81, and received a Lifetime Achievement Award from the local chapter in 2004. In lieu of flowers, a donation to the Houston Hospice would be appreciated by the Crowley family.

 

THE DEAL SHEET

It’s All About the People

Jim Wilkie has taken the reins of the SBA Lending group for BBVA Compass in Houston. Jim has 20 years of experience as a lender in this market.

***

Erin Roberts was named leader of Ernst & Young’s engineering and construction services. He is a Houston-based partner with 16 years of experience serving companies in the construction and oilfield service industries, with a focus on specialty contractors and building products manufacturers.

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Caleb Lawson

Caleb Lawson joined Avison Young’s Houston brokerage operations as a principal and member of the corporate services group. He will focus on local tenant rep and portfolio management services for clients with national and international locations. He has 14 years of experience in the CRE industry.

***

Chris Hanslik was named chairman of BoyarMiller. He is the first successor as chairman following the 20-year tenure of Bill Boyar.

Leases

Supreme Electrical Services leased a 37k SF building at 1187 Brittmoore Rd. NAI Houston’s Chris Kugle, John Ferruzzo, and Dustin Gillioz repped the landlord, Hazeldean Properties, and Colliers’ Jay Kyle and Gary Mabray represented the tenant.

***

Global Broadcasting leased 15k SF at The Preserve at North Loop. Hartman Income REIT’s Tammy Wiltz represented the owner.

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Goodwill Industries of Houston leased 17.5k SF in Westbridge Plaza. Barkley Wedemeyer repped the tenant and Richland Investments’ Mickey Meyer-Sturgis represented the landlord.

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Ashley Furniture leased 52k SF at Deerbrook Corner in Humble. The tenant represented itself and Richland Investments’ Mickey Meyer-Sturgis negotiated for the landlord.

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CBRE closed on two new leases and one expansion totaling 33k SF at Millennium Tower, a 21-story, Class-A office development in the Westchase District. The recently signed deals at the 361k SF skyscraper include:

  • 24k SF lease to C&J Energy, represented by JLL’s Louie Crapitto

  • 4,543 SF expansion for Oasis Power

  • 3,799 SF lease to Visionary Integration Professions, represented by Moody Rambin’s Jay Wall

CBRE’s Steve Rocher, Kristen Rabel, and Louann Pereira represented the landlord, Millennium-Windfall Partners, in these transactions.

***

Wilbur Smith Associates renewed 12k SF of office space at 9800 Richmond Ave. CBRE’s Steve Rocher, Kristen Rabel, and Louann Pereira repped landlord Caroline Partners, and NAI Houston’s Brad Marnitz represented the tenant.

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Gimmal Group renewed a 12k SF office lease at Weslayan Tower at 24 E Greenway Plaza. CBRE’s Jon Lee represented the tenant and Granite Properties’ Sandy Benak repped the landlord.

Sales

Zollie Scale Manor

The National Farm Workers Service purchased Zollie Scale Manor Apartments, a 158-unit complex on Corder Street. CMI Brokerage represented seller JPMorgan Chase and Hendricks & Partners repped the buyer.

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Pelican Worldwide purchased a 3.3-acre tract in the Interwood Business Park at Sam Houston Parkway and John F. Kennedy Blvd. The site will be for the future development of Pelican Worldwide’s North American corporate, manufacturing, and distribution HQ. Indermuehle’s Jeremy Lumbreras and Payton Indermuehle repped the buyer, and Southwest Realty Advisors’ Marc Drumwright negotiated for the seller, Scomi Oil Tools.

***

12650 North Featherwood Drive

Derrick Management purchased the 58k SF office building at 12650 North Featherwood Dr. CresaPartners’ Charles Goldstein repped the buyer and Colliers’ Chris Winters, Marshall Clinkscales, and Jay Kyle represented the seller. The property was a 100% leased suburban office building owned by Panattoni Development. Colliers was initially hired to lease the building and to market the building to the investment community. 

***

FBW Investments purchased 7.5 acres in Westland Business Park. Betz Commercial Brokerage’s Ron Dagley repped the seller.

Financing

Commercial Resource Capital’s Jason Dannatt and Toby Kettle arranged $14M financing for four new office buildings on Kirby Drive. The 10-year, fixed-rate loan was secured through a life insurance company.

***

Commercial Resource Capital’s Lance Bubela and Chris Dannatt provided permanent financing on a 92% leased, seven-story office building containing 95k SF and an underground garage. The $7.5M loan (seven-year, fixed-rate) was secured through a life insurance company.

Development

Satterfield & Pontikes finished construction on a $22M project consisting of two buildings for the Port of Houston at the Bayport Container Terminal. One building will be home to terminal administration, which includes support staff and customs. The port is seeking to get the two-story, 35k SF building LEED certified. The other building, a 65.5k SF maintenance and repair facility, will include offices, equipment repair bays, overhead bridge cranes, a fueling station, and storage.

This and That

 
Merfish Building

Asakura Robinson Co moved to 1902 Washington Ave, Suite A. The 1930's building, formally known as the historic Merfish Building, is owned by Houston developer Frank Liu. The renovation of the second-floor suite will serve as the new office for landscape architecture and planning firm Asakura Robinson Co, which see the move to the Washington Corridor as an opportunity to help promote the area as an Arts District.

***

Moody Rambin Interests was retained by Aramco Services Company as the exclusive leasing agent for Braeswood Tower. The 11-story, 419k SF, Class-B building is 74% leased with 110k SF of contiguous office space available. Lee Jeane and Griff Jaggard will handle the assignment.

***

For the sixth year in a row, Texas leads the nation as the No. 1 magnet state, according to Allied Van Lines. Texas had the highest net-relocation gain based on moves performed by the firm. The moving company's report showed a net gain of 1,640, lower than last year’s performance but far above all other states. Allied attributes the states “magnetism” to its diverse, strong economy.

***

Katy ranks first on Gadberry Group’s “10 from 2010” list, which notes the Top 10 high-growth areas in the country. Katy earned this year’s top spot largely due to an 8.71% increase in the number of households. The area was ranked fifth in the ’09 list. Katy experienced 21% growth in household income in the last decade and an average household net worth in 2010 of $250k. The area’s ethnic diversity and average length of residence of 4.7 years also factored in to its placement at the top of the list.

***

The City of Houston will offer commercial building owners up to $200k in incentives to improve energy efficiency, putting a special emphasis on retrofitting older and smaller buildings. The City will pay to offset 20% of the labor and material costs of projects that improve a building's efficiency by at least 15%. The funds will come from the Energy Efficiency and Conservation Block Grant the City received from the Department of Energy last year as part of the broad federal stimulus package. The funds must be spent by this fall. The City spent much of the $23M grant improving the efficiency for 21 City-owned buildings and on some affordable housing units. At least 50% of the awards will go to Class-B and C properties. At least 60% of the total awards will be set aside for projects under $500k. The project is being done in partnership with the GeoTechnology Research Institute at the Houston Advanced Research Center and the Clinton Climate Initiative.

 
Send us your deals and we'll send you our gratitude. E-mail Catie Brubaker, catie@bisnow.com.
 
 
 
 
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