This Week's Houston Deal Sheet
Doggett Industries broke ground on its new $24M facility in Houston.
Doggett Auto Group is building a 62K SF dealership and showroom on an empty concrete lot north of Doggett Industries at 9225 North Freeway, Houston.
Currently operating in temporary buildings, Doggett’s Ford dealership is already ranked as one of the fastest-growing Ford dealerships in the U.S. and the fastest-growing Ford dealership in Houston, according to the release.
Mayor Sylvester Turner recognized Doggett Industries with a city of Houston proclamation for Doggett Industries Day. The recognition is for uplifting the city, providing economic development and continuing to provide jobs.
Gregory Lippert was appointed CEO of Willie's Restaurants, the Houston-based group that operates Willie's Grill & Icehouse and Fajita Willie's Cafe and Cantina. With more than 30 years of restaurant experience, Lippert served as CEO of Taco Mac, Quaker Steak & Lube and Mazzio's Corp. Earlier in his career, he held brand and marketing positions at Fazoli's, the Seven-Up Co. and Procter & Gamble.
Ken Overshiner joined Chase as executive director of the Community Development Banking business within Commercial Banking. Based in Houston, he will be responsible for supporting clients based in Texas, Louisiana, Missouri, South Carolina, Arkansas, Alabama and Mississippi. With over 30 years of industry experience, Overshiner was recently a senior vice president of Community Capital at BBVA Compass, where he originated debt and equity for affordable housing development. He also served as a senior banker at Chase within Community Development Banking, providing construction lending for affordable housing through Low Income Housing Tax Credits.
Passco Cos. acquired Boterra Bay Apartments, a 384-unit, Class-A multifamily complex in 99 West Cedar Bayou Lynchburg Road, Baytown. The firm will rebrand the community as Sapphire Bay Apartments. This is Passco’s third multifamily acquisition in Texas, and second in Houston, in less than four months, Passco Cos. Director of Acquisitions Jake Niles said. On-site amenities include a pool with in-water tanning deck, a fitness center, a dog park with a puppy pool and a pet grooming station. Newmark Knight Frank's Thomas Alleman and Brandon Miller represented the sellers, a joint venture between Houston-based The Boterra Group and Dallas-based Edison Capital Holdings. KeyBank Real Estate Capital’s Chris Black and Caleb Marten represented the buyer.
An undisclosed buyer purchased Meadow Edge Shopping Center at 20141 Interstate 45, Spring. Edge's Burdette Huffman and Josh Jacobs represented the seller, 20141 North Freeway LLC. Hunington Properties' Sam Affanhe represented the buyer. The center is 100% leased, anchored by Lowe’s.
An undisclosed buyer acquired Spring Cypress Retail Center at 17814 Spring Cypress Road, Cypress. Spring Cypress Retail Center is a 7,837 SF stabilized retail center composed of corporate credit tenants including Visionworks, Supercuts and Cypress Dental Group and Orthodontics. EDGE's Micha van Marcke and Chace Henke represented the seller. Cushman & Wakefield's Kris Von Hohn represented the buyer.
An undisclosed buyer purchased Pine Hollow Retail Center and Wells Fargo – Pine Hollow located at 5185 and 5175 West 34th St. in Houston. Both stabilized properties are situated along the dominant retail intersection for the trade area in northwest Houston along the expanded Highway 290 corridor. Edge's Micha van Marcke and Chace Henke represented the seller. Davis Commercial's Mark Davis represented the buyer.
A local private investor acquired Bellaire Town Center, an 8,144 SF retail property at 13438 Bellaire Blvd., Houston. The buyer plans to open a business in the center in the future. Marcus & Millichap’s Gus Lagos and Alex Wolansky represented the seller, a limited liability company.
Marcel District, a 7.3-acre new mixed-use development at 18702 University Blvd., has four new tenants. The 69K SF project features office and retail space serving Johnson Development’s Riverstone master-planned community in Sugar Land. Sammy’s Sports Grill signed a 5,050 SF lease. Experience Infusion Center, a pharmacy specializing in home health and IV infusion therapy, inked a 24K SF lease. Renzo Gracie Jiu-Jitsu, a local martial arts group, leased 2,050 SF. The district also includes 15K SF of office space, which was leased by Apex Executive Suites, a coworking space concept by Marcel. Marcel District held its groundbreaking in May and is expected to wrap up construction early next year. The district is 67% leased.
David’s Bridal leased 11K SF in the Pinecroft Center, 1600 Lake Woodlands Drive, The Woodlands. David’s Bridal is a retail store specializing in wedding dresses, bridesmaid’s dresses, prom dresses and other formalwear. CBRE's Amanda Goss Aaron and Rachel Farris represented the tenant. Wulfe & Co.'s Bunny McLeod and Katherine Wildman represented the landlord.
Edgen Murray Corp. extended and expanded its lease by 36 acres at 8026 Miller Road. The total lease is for 98 acres. The site, which features a 150K SF industrial warehouse, is used for storage and distribution of pipes, valves, fittings, actuators and related products. JLL’s Jeff Venghaus and Ryan Fuselier represented Edgen Murray. Raintree Commercial's Corey Ferguson represented the landlord, Pescador Partners Ltd.