This Week's Houston Deal Sheet
A 28K SF neighborhood retail center in Richmond is ready for its new tenants. The center is nearly 85% leased, according to the landlord, Deiso Moss.
After acquiring the 3.49-acre lot in August 2018, Deiso Moss launched construction in January and delivered the project to tenants in July, principal Andrew Deiso said.
Signed tenants include Sherwin-Williams, Idea Labs Kids, Jump! Swim Schools and a 6K SF bar concept. About 3,800 SF remains to be leased.
The retail center will serve the Aliana community along Grand Parkway in Southwest Houston.
Aliana, a 2,000-acre master-planned project by Airia Development Co., is on the Top 20 list for fastest-growing communities in America, Deiso said. The community offers homes priced at $500K and higher and great demographics.
NewQuest Properties is also developing a 200K SF retail center near Aliana at Grand Parkway and West Airport Boulevard. Scheduled to open in Q2 2020, a number of national brands are already on board.
Major tenants include 24 Hour Fitness, Burlington, Ross Dress for Less, Michaels, Petco, Ulta Beauty, Five Below, Bath & Body Works, Sketchers, McDonald's, Jason's Deli, Freddy's Frozen Custard & Steakburgers, Timewise and Express Oil.
Deiso Moss also recently purchased an 11-acre lot near Woodson's Reserve in Spring, principal Taylor Moss said. The project will be developed in two phases.
Phase 1 will be a single-story retail center with a day care, restaurants and other retail concepts. Phase 2 is still in the pre-planning stage and is about 4 acres.
CBRE added five industrial brokers from Cushman & Wakefield: Senior Vice President Jason Dillee, First Vice President Andrew Jewett, Vice President Cape Bell, Vice President Nathan Wynne and Associate Harper Gully. The team completed nearly 1,000 deals totaling more than $1B in value. They will report to Managing Director Peter Mainguy and Senior Managing Director Cody Armbrister.
Marc el-Khouri was hired as director of Workstyle, a collaborative space platform created by Boxer Property. Workstyle is the fourth-largest provider of coworking in the U.S. and the largest provider in Houston, per the release. El-Khouri will lead the expansion of the platform by focusing on new partnerships, locations and other opportunities.
An undisclosed buyer purchased a 31K SF retail property at 5301 Telephone Road, Houston. Marcus & Millichap's Gus Lagos and Nik Kapetanakis represented the seller. Lagos also represented the buyer.
Carriage Services Inc. renewed its 48K SF office lease at 3040 Post Oak Blvd., Houston. JLL's Garrold Parratt and Ronnie Deyo represented the tenant. Stream Realty Partners' Ryan Barbles and Mat Volz represented the landlord, MetLife Real Estate Investors.
Turnco LLC leased a 33K SF industrial manufacturing facility at 16623 Aldine Westfield Road, Houston. NAI Partners’ Clay Pritchett and Zane Carman represented the landlord, Northwest Houston Industrial LLC.
OneLife Church extended its 14K SF industrial lease at 16920 Texas Ave., Webster. Finial Group's Amy Rienstra represented the landlord.
Xterra Trench Shields signed a 14K SF lease for a stand-alone manufacturing building at 9797 Galveston Road, Houston. NAI Partners’ Clay Pritchett and Zane Carman represented the landlord, Walia Estates.
IOFFICE signed a 15K SF office lease at 5300 Memorial Drive, Houston. The firm provides real estate and facilities leaders with modern workplace solutions. JLL's Jenny Mueller and Jessica Ochoa represented the landlord. Davis Commercial's Ashley Casterlin represented the tenant.
AV8 MRO signed a 29K SF industrial lease at West by Northwest Business Park, 6100 West by Northwest Blvd., Houston. Cushman & Wakefield's Stephen Schneidau represented the tenant. Stream Realty Partners' Boone Smith and Matteson Hamilton represented the landlord, Agellan Real Estate Investment Trust.
Hugh M Cunningham renewed its lease of 18K SF at Long Point Business Park, 6600 Long Point Road, Houston. NGKF's Trace Elrod represented the tenant. Stream Realty Partners' Boone Smith represented the landlord, Agellan Real Estate Investment Trust.
Edge Realty Partners was selected to lease Rice Village, the outdoor retail district near Rice University. The firm is seeking pop-up and permanent tenants such as first-to-market concepts, chef-driven restaurants and innovative experimental concepts. Edge's Josh Jacobs, Burdette Huffman and Brooks Shanklin will lead the leasing efforts. REIS Associates' Aj Coffee, Kaci Hancock and Jennifer Rivera will handle property management for the Rice Village District. Rice Management Co. owns Rice Village.
Lee & Associates was picked to lease Hardy Properties at Intercontinental, an 865K SF business park at 15534 West Hardy, Houston. Situated off Beltway 8 and Hardy Toll Road, the park can be divided into 1,500 SF to 40K SF of flex and industrial space with immediate occupancy. The project features semi-dock and dock-high loading and is close to George Bush Intercontinental Airport. Lee & Associates' John Gazzola, Mason Alsbrooks and Drew Aston will lease the project.
Celltex Therapeutics Corp. renewed a 19K SF office space at 2401 Fountain View Drive, Houston. Transwestern's Justin Brasell represented the tenant. Finial Group represented the landlord.
Fort Bend Habitat for Humanity leased 16K SF at Sugar Land Business Park, 505 Julie Rivers Drive, Sugar Land. R&W Real Estate's Claudia Wright represented the tenant. Stream Realty Partners' Boone Smith represented the landlord, Alpha Industrial Properties.
Natural Pawz is opening four locations in Houston. Since launching in 2005, The Woodlands-based brand has opened 24 locations, 19 in Houston and five in Austin. Natural Pawz was acquired by Independent Pet Partners in 2018 and it has plans to expand across Texas. Baker Katz's Ben Brown represented Natural Pawz.
- The 4K SF location at 208 Westheimer Road opened in August.
- The 3,180 SF location at 2529 Kingwood Drive in Kingwood is slated to open in Q4. CBRE's Jazz Hamilton represented the landlord.
- The 4K SF store at the Shops at Tanglewood at 5702 San Felipe will open in Q4. Edge Realty Advisors' Brooks Shanklin and Josh Jacobs represented the landlord.
- The 4,008 SF store at 4015 Washington Ave. is expected to open in Q2 2020. NewQuest Properties' Ashley Strickland and Nick Ramsey represented the landlord.
Panattoni is underway on 817K SF of industrial space in Northwest Houston. Located at Highway 249 and Beltway 8, the project includes four distribution buildings in a 64-acre master-planned corporate park. It will have a mix of dock-high, cross-dock and front load distribution space. All buildings will feature a 180-foot truck court for trailer parking. The project is expected to be completed in Q1. MetLife is a capital partner on the project. Cushman & Wakefield's Beau Kaleel and Stephen Schneidau will oversee leasing.