Historic Heights Redevelopment Reaches 80% Preleased: The Houston Deal Sheet
The Swift Bldg, an adaptive reuse development from Radom Capital and Triten Real Estate Partners, has secured retail tenants that bring the project to 80% preleased.
The redevelopment of historic packing plant buildings at 621 Waverly St. in the Houston Heights will offer 35K SF of office space and 25K SF of retail space. The property is adjacent to M-K-T, a mixed-use district also from Radom and Triten.
Office leasing is being spearheaded by Bubba Harkins, Jenny Sealy and Nina Seyyedin of CBRE, and retail leasing is led by Barton Kelly of Radom Capital.
Van Leeuwen Ice Cream leased 1,300 SF. This will be its fourth Houston location. Leemoo, a Houston-based wellness brand with juices, smoothies and other dishes, plans to open its third Houston location at The Swift.
Delivery is planned for the second quarter, with tenant openings planned for late this year.
Jason Kastner of Dochter & Alexander Retail Advisors and Zac Hoffer of The Retail Connection represented Van Leeuwen. John Felitto of Main Street Commercial Partners represented Leemoo.
PEOPLE
Lee & Associates hired Blaine Sinclair as director in its Houston office. He will focus on expanding the firm’s leasing platform and growing the Houston office’s portfolio, representing landlords and investors in leasing initiatives.
Sinclair brings 15 years of commercial real estate experience, including at Jackson Cooksey and Madison Marquette, and co-founded Z Group, a boutique CRE firm.
LEASES
Transwestern’s Eric Anderson and John Heard have secured seven leases totaling 187K SF at 811 Main, a 46-story Class-A office tower in Downtown Houston, since the fourth quarter of 2024. They represent the landlord, Invesco Real Estate. The leases:
- Fervo Energy leased 54K SF and was represented by Joshua Brown and Audrey Selber of Newmark.
- Seyfarth Shaw leased 40K SF and was represented by Newmark’s Brown and Melissa Copley.
- BNY leased 27K SF and was represented by David Bale and Cody Little of JLL.
- Arnold & Porter leased 23K SF and was represented by Kevin Saxe and Wyatt McCulloch of CBRE.
CONSTRUCTION AND DEVELOPMENT
Mohr Capital bought 22 acres at 117 Oates Road in East Houston, where it plans to immediately break ground on an industrial development called Oates 610.
Oates 610 will bring East Houston modern infill warehouse space with a 371K SF Class-A cross-dock industrial facility. Features include 36-foot clear height, 80 dock doors and 91 trailer storage stalls.
Kimley-Horn will provide civil engineering services, and Ware Malcomb will serve as the project architect. Site grading is planned for May. Project delivery is targeted for the second quarter of 2027.
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The Signorelli Co. announced five new leases at Valley Ranch Town Center in New Caney, bringing the occupancy to its highest level, 97%.
The 240-acre Valley Ranch Town Center at the corner of Interstate 69 and the Grand Parkway is still under development and offers 1.5M SF of dining, shopping and entertainment options.
Wells Fargo Bank signed a 3,870 SF ground lease on a 1-acre site at 21728 U.S. Highway 59. The branch is under construction and is scheduled to open this summer.
Starbucks signed a 2,200 SF lease in Tract 26, which was completed in February. Nick The Greek, a chain serving Greek street food, leased 1,800 SF in the same tract. Both stores have begun build-out.
Qargo Coffee, a Miami-based café specializing in Italian-style coffee and pastries, signed for 1,850 SF. Baskin-Robbins leased 1,350 SF. Tract 7 will be completed and turned over to Qargo Coffee and Baskin-Robbins in September.
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Satya announced the topping-out of its Tiara on the Beach luxury beachfront condominium project in Galveston, marking the first new condo project on the island in nearly two decades.
A ceremony on March 12 included the raising of a tree to the roof to mark the final concrete pour on the 10-story building. The boutique beachfront condominium, with 63 luxury residences, is on Galveston’s West End at 10525 San Luis Pass Road.
Prices begin at $1.5M, and the project is slated for completion next summer. The project team includes Place Designers Inc. as design architect, interior designer and landscape architect, Ludlow & Associates as general contractor, IBC Bank for construction financing, and Nan Properties Developer Services for sales and marketing.
