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This Week's Houston Deal Sheet

Houston's industrial sector is getting tighter. Leading off a full Deal Sheet is Basintek's 200K SF expansion and renewal at 713 North Park. The transaction is the sixth-largest by square feet in the Houston industrial market year-to-date.

713 Northpark Central Drive
713 Northpark Central Drive

NAI Partners’ Nick Peterson and John Ferruzzo repped Basintek. No other broker information was provided. 

“Arranging a lease of this magnitude for a drilling company in expansion mode is a breath of fresh air for Houston and a testament to the city’s slowly recovering oil and gas industry,” Peterson said.

SALES

Finlay Management, a multifamily property management firm headquartered in Miami, added Regatta Bay Apartment Homes to its growing multifamily portfolio. The 240-unit multifamily community is at 2555 Repsdorph Road in Seabrook.

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CBRE Hotels arranged the sale of Candlewood Suites Houston Medical Center in Houston. Pika Hotel Group sold the hotel to Houston-based HH&S Hospitality LLC for an undisclosed price. CBRE Hotels’ Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma repped both the buyer and the seller.

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Eagle Crest
Eagle Crest

Gaia Real Estate — with partners Menora Mivtachim Insurance and Grand China Fund — sold Eagle Crest and Timberlakes of Atascocita Apartments in Houston. Adjacent to one another, the 200-unit Eagle Crest and 312-unit Timberlakes are Class-A communities constructed in 1999 and 2000, respectively. CBRE’s Clint Duncan and Matt Phillips repped the seller.

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Colliers' Elena Bakina repped Integra Plaza in the disposition of a 15K SF medical office/surgery center at 3074 College Park Drive in The Woodlands. The buyer, Dream Medical Management, was repped by Greentree Venture’s Anh Nguyen.

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Newcor Commercial Real Estate’s David Alexander repped the seller, DAC, in the sale of 16 acres on West Hardy Road near Riley Fuzzell in Spring. Future industrial use is planned.

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CBS engaged Finial Group to rep its 11-building portfolio, totaling 212K SF on 34.2 acres in a sale-leaseback transaction that would enable it to benefit from the value created by its credit on a long-term lease.

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Black Label Commercial Group’s Beau Harris repped seller Nguyen Dai Investments in the sale of an 8K SF office/warehouse facility in Northwest Houston at 7211 Spindle Drive. Harris also repped the buyer, TNB Clearview Investments.

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Marcus & Millichap’s James Bell completed the sale of Victoria Retail Center, a 9,500 SF asset in Victoria. The buyer was secured by Marcus & Millichap’s Lisa Estrada. The asset had a listing price of $3.1M.

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Spring Cypress Tract C purchased a 3.3-acre parcel off Tomball Parkway near Spring Cypress Road, intended to be a car dealership. The seller, KM-TS Spring Cypress, an affiliate of KM Realty Advisors, repped itself, and Silver Oak Commercial Realty repped the buyer.

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Finial Group’s Sammy Abuhamra repped the buyer, Gene Pilgrim, in the purchase of 118K SF of industrial land in La Porte. Crenshaw Real Properties was the seller.

LEASES 

Poitín
Poitín

Poitín (pronounced putt-cheen), a full-service restaurant and cocktail bar, is slated to be the anchor tenant at Sawyer Yards at the corner of Edwards and Sawyer streets. Poitín will occupy the 9,500 SF space on the east end of the complex and will boast a large outdoor patio with a prime view of the Downtown skyline. Construction of the project is set to kick off next month, and the space is planned to launch in early 2018.

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Dyonyx signed a new 11K SF office lease at Granite Tower, 13430 Northwest Freeway in Houston. JLL’s Eugene Terry and Louie Crapitto repped the tenant. Sandy Benak and Steve West repped the landlord, Granite Properties, in-house.

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NAI’s John Ferruzzo and Travis Land repped Steadfast Development in leasing 20K SF of industrial spec space at 8316-C North Willow Place in Houston. Key 2 Texas’ Bradley Buerger repped the buyer, Genesis 22:14 Developments.

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NAI’s Griff Bandy repped Excel Midstream in leasing 18K SF at 1250 Woodbrand in Houston. The Beck Group’s Derek Beck repped the landlord.

FINANCING

200 Unit Community
LMI Capital financed the acquisition loan for this 200-unit multifamily community.

LMI Capital’s Jamie Safier, Brandon Brown and Jamie Mullin placed financing for four separate assets in the Houston area. Safier originated a loan for a 500-unit self-storage facility in Houston, Brown placed a loan for a 70-unit multifamily community in Baytown and an $8.25M loan for a 200-unit property in Galveston County, and Mullin obtained a loan for a 148-unit asset in Aldine.

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Mission Capital’s Phillip Justiss, Alex Draganiuk and Lexington Henn arranged $15.3M in acquisition financing on behalf of Midas Hospitality for the purchase of the newly constructed Staybridge Suites Houston – Medical Center, a 120-key extended-stay hotel at 9000 South Main St. in Houston.

THIS AND THAT

Arizona-based real estate brokerage Clayton Nash Real Estate, newly expanded into Texas, acquired the Houston division of real estate brokerage Home Team of America. The acquisition adds 86 agents to the Houston-based Clayton Nash Real Estate team, and the company will take over operations of the Home Team America office at 9999 Bellaire Blvd. 

Related Topics: The Deal Sheet