DZMI Acquires Energy Corridor Office Building: The Houston Deal Sheet
DZMI acquired Kirkwood Tower, a 286K SF office building at 11757 Katy Freeway in Houston’s Energy Corridor.
Houston-based DZMI, led by principal David Z. Mafrige, now owns and manages close to 1.5M SF of office space.
“At DZMI, we view our assets as long-term holds, allowing us to build enduring partnerships with our tenants for years to come,” Mafrige said in a statement. “We believe in the long-term strength of the Energy Corridor and look forward to enhancing the property’s value for tenants and the surrounding community.”
Built in 1984 and renovated in 2015, the 16-story Kirkwood Tower offers amenities including a penthouse, fitness center, sauna, wellness room, rooftop jogging track, lobby bank with an ATM and drive-thru access, tenant lounge and ground-floor deli.
Kirkwood Tower is over 76% occupied. Stream Realty Partners’ Matt Asvestas and Danielle Rothchild will continue to lead leasing efforts under the new ownership. Stream completed over 150K SF of transactions at Kirkwood Tower in 2025.
Asvestas represented the buyer, while JLL’s Rick Goings and Jeff Hollinden represented the seller.
PEOPLE
CBRE promoted Parker Duffie to managing director for its Houston office. Duffie will oversee the office, industrial and healthcare leasing business.
Duffie brings more than 12 years of commercial real estate experience, most recently serving as a CBRE office investor leasing broker. He was responsible for leasing over 8.5M SF across 30 buildings.
SALES
Alterra IOS acquired a 3.6-acre property with a 21K SF warehouse in La Porte as part of an 11-property portfolio acquisition. The transaction was brought to Alterra IOS by Tom Lasky and Anthony VanVoorhis of Colliers.
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Fairstead announced the $43.3M acquisition and revitalization of Coolwood Oaks, a 10-building, 168-unit affordable housing community at 777 Coolwood Drive. Fairstead utilized financing from PNC Bank, Houston Housing Finance Corp. and the Texas Department of Housing and Community Affairs.
Originally built in 1984, Coolwood Oaks will undergo renovations totaling more than $14M in hard costs, about $92K per residence. Upgrades will include modernized in-unit kitchens with new appliances, repainted building facades and upgraded infrastructure and mechanical systems.
Affordable housing specialist DNA Workshop will lead the architectural design and interior vision for the project. Under Fairstead’s management, improvements will be complemented by programming, a resident scholarship fund and community engagement initiatives with local partners.
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A partnership of MyPlace Self Storage and Nuveen bought Spencer Mini Storage, a 56K SF self-storage facility at 11220 Spencer Highway in La Porte. A JLL Capital Markets team, including Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza, represented the seller, ExchangeRight Real Estate.
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Timber Hill Group bought an 80K SF industrial manufacturing facility at 1121 Buschong St. in North Houston. The facility is on 6 acres and includes 14K SF of office space. Justin Tunnell and Richard Glass of Lee & Associates represented the seller, Schlumberger Technology Corp.
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Zenith Industrial Outdoor Storage acquired a three-property IOS portfolio in Houston through a 10-year sale-leaseback transaction with C&D Scrap Metal, a Houston-based scrap metal operator.
The three properties span about 20 acres and include a combined 137K SF of industrial improvements.
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Partners Capital, the investment platform of Partners Real Estate, acquired Fidelity Road Industrial Park, a three-building, 13-acre industrial portfolio at 4204, 4206 and 4208 Fidelity St. The 198K SF asset is the final addition to Partners Capital’s Opportunity Fund V investment vehicle.
Constructed in 1980, the property is leased to two tenants. Financing was provided by SouthState Bank. Travis Land at Partners sourced and brokered the transaction.
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Oxford Partners represented Shahin Enterprises Inc. in the sale of the 51K SF building at 7400 W. Sam Houston Parkway N. Oxford Partners’ Jeffery Arnaud represented the buyer, while Conrad Bernard of Boyd Commercial represented the seller.
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Alex Wolansky and Gus Lagos of Marcus & Millichap represented a local partnership in the sale of Westheimer Lakes II, a 52K SF retail center in Katy. Built in 2013, the building is on 6 acres and has 15 suites occupied by service, restaurant and retail tenants. The buyer was not disclosed.
LEASES
Floor & Decor leased 56K SF at 4800 W. Bellfort Ave. in the Meyerland area of Southwest Houston. The property, owned by Luel Partnership, was previously occupied by a Randalls supermarket. Floor & Decor is expected to open in the second quarter of 2026.
Partners Real Estate’s Joan Collum represented Floor & Decor.
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Stockdale Capital Partners signed leases with three new office tenants and renewed a 71K SF lease, totaling 106K SF of leasing activity, at 20 Greenway Plaza. Located at the northwest corner of Norfolk and Cummins streets, 20 Greenway Plaza is a 433K SF office building distinguished by stair-stepped architecture and black reflective glass, with separate ownership from the bulk of Greenway Plaza office buildings.
Bank of America renewed its 71K SF lease at the property, continuing to occupy the seventh and ninth floors. David Bale and Cody Little of JLL represented Bank of America.
New tenants include solar asset management and service firm SunStrong Management, which will occupy 18K SF; design services firm CannonDesign, which will occupy 10K SF; and skills management software company Kahuna Workforce Solutions, which will lease 7K SF.
Steve Rocher and Rima Soroka of CBRE represented Stockdale. The Los Angeles-based private equity firm has owned the Class-A building since 2019.
CannonDesign was represented by Abby Alford of Stream Realty Partners. Kahuna was represented by Dustin Devine of Avison Young. Alvarez & Marsal advised SunStrong.
FINANCING
Accesso secured a two-year loan extension for 3900 Essex, a 236K SF Class-A office tower at 3900 Essex Lane in Houston’s River Oaks area. The extension will enable the firm to implement capital improvements, including lobby renovations and construction of spec suites.
The outstanding balance on the loan is about $14.7M, according to records reviewed by Bisnow. The property features a fitness center, a conference center and recent corridor upgrades throughout and offers a full-service bank with a drive-thru and ATM, refreshed atrium lobbies and renovations to back-of-house infrastructure, including HVAC, fire and security systems.
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Almanac Realty Investors, a business unit of Neuberger, committed up to $300M of growth capital to SparrowHawk, a private real estate company founded in 2011 by Alfredo Gutierrez. Headquartered in Houston, SparrowHawk is focused on the acquisition and management of institutional-quality industrial assets throughout the Midwest.
SparrowHawk owns and operates more than 2.8M SF across St. Louis, Kansas City and Chicago. Ackman-Ziff Real Estate Group advised SparrowHawk on the transaction, which was managed by Adam Steinberg.
CONSTRUCTION AND DEVELOPMENT
Uptown Oaks at The Hallmark will add a 21-story high-rise with 120 independent living residences to The Hallmark, a senior living community in Greater Uptown. Construction is anticipated to begin in 2027, with occupancy starting in 2030.
Brazos Presbyterian Homes, a not-for-profit organization, manages The Hallmark. PRDG Architecture leads the project’s design. This new residential and amenity-focused addition will offer a wellness destination with a yoga studio and massage area, upscale dining venues with views of the city, an art and hobby studio, a café, a movie theater and a pool area.
