This Week’s Houston Deal Sheet

The Zimmerman family, represented by NewForm Real Estate and in a joint venture with Hines, has announced the full details for the renovation of La Colombe d’Or Hotel in Montrose.

In addition to the 34-story The Residences at La Colombe d’Or developed and previously announced by Hines, La Colombe d’Or Hotel’s footprint will grow to a total of 32 hotel rooms across the Mansion, Tower and Garden Bungalows.

The Mansion, classified as a historical landmark, is undergoing a full renovation and restoration. The Tower includes 18 hotel suites on the lower level of The Residences at La Colombe d’Or, and is accessed by a pass-through garden from the Mansion. The Garden Bungalows, a collection of nine suites grouped around a courtyard, are accessed via a walkway from the new tower.

PEOPLE

Lee & Associates promoted Jill Nesloney and Clint Hankla to principal. Prior to her promotion, Nesloney served as a director specializing in leasing office properties. Hankla served as a senior director, specializing in industrial brokerage in North and Northwest Houston.

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Ref-Chem President Jeff Rashall will take on the role of CEO in April, when retiring CEO Trey Myers steps down. Rashall began at Ref-Chem in 1997 as a project engineer, was named vice president of construction in 2007, vice president of operations in 2013 and chief operating officer in 2015, before being named president in 2018. Ref-Chem, a wholly owned subsidiary of Burns & McDonnell, is a heavy industrial construction and maintenance contractor.

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East End District President Veronica Chapa Gorczynski has been inducted into Texas Lyceum. The group is a nonpartisan, statewide leadership organization focused on identifying the state’s future leaders and providing a forum for civil discourse on the policy discussions facing Texas.

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Angel Gonzales joined Hartman Income REIT Management as the new director of operations for property management.

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Neil Potter joined Colliers International in Houston as a senior project manager within its Design and Construction Advisory team. Prior to Colliers, Potter served as the vice president of construction and a leader of Arch-Con Corp.

SALES

Lynd Acquisitions Group acquired a portfolio of three garden-style apartment communities in Texas, and paid in excess of $150M for all three. One property is in Houston, while the other two are in the Austin metro area. The Houston property, The Royal Oaks at Westchase, has 282 units and is located at 11212 Westpark Drive. The seller, Sy Li, had acquired all three properties from the original developers within the last 20 years and had made no upgrades during that period. Lynd will invest $5M on renovations and upgrades for the Houston community.

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An unnamed buyer purchased a 55K SF office and manufacturing facility in Northwest Houston. The facility, located at 8300 Breen Road, sits on 20 acres. Colliers International’s Chase Spence and Charles Fertitta represented the unnamed buyer, while NAI Partners’ Clay Pritchett and Zane Carman represented the seller, TRA Joint Venture.

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CBS Rentals LLC purchased a 10.5K SF office building at 831 Crossbridge Drive in Spring. Finial Group’s Jack Gaffney represented the buyer, while JLL’s Jerrod McQuain represented the seller.

LEASES

QVAL Property Advisors renewed 10.4K SF at 15995 North Barkers Landing Road for six years. Hartman Income REIT’s Richard Maloof represented the landlord, while CBRE represented the tenant.

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DPR Construction expanded its Houston office to a total of 12.6K SF in Greenway Plaza’s Phoenix Tower. The 34-story, Class-A office building is located at 3200 Southwest Freeway, at the intersection of Buffalo Speedway and U.S. Highway 59. Colliers International’s Chris Nash and Walker Ryan represented the tenant, while the landlord, Parkway, was represented in-house by JP Hutcheson.

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Bernard Specialties leased 21.3K SF at Beltway Industrial Park in Northwest Houston. The property is located at 6525 Cunningham Road. 

Los Compas Distributions leased 12K SF on the same property. 

CMI Brokerage’s Trent Vacek represented the landlord, Blum Beltway, in both transactions.

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CLEC Distribution leased a 27K SF industrial building at Energy Commerce Business Park in Pasadena. The building is located at 603 East Sam Houston Parkway S. Colliers International’s Robert Alinger represented the tenant, while NAI Partners’ John Simmons, Holden Rushing and Chris Haro represented the landlord, Clay Partners.

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OPRONA leased 31.8K SF of office space at 3663 North Sam Houston Parkway East and 15333 John F Kennedy Blvd. MHW Brokerage Services’ Jeff Williams and Mitchell Oxman represented the tenant.

CONSTRUCTION AND DEVELOPMENT

McCarthy Building Cos. completed a two-floor build-out within the Jan and Dan Duncan Neurological Research Institute at Texas Children’s Hospital. The project included 32K SF of auditorium and conference space. Construction on the project began in December 2018.

THIS AND THAT

The Work Well coworking community in Cypress has added a high-end podcast studio to its amenities, the first for a Houston coworking space. The Work Well members and nonmembers can produce podcasts and voice-overs for a variety of business uses. Use of the acoustic-paneled studio is $50 per hour for members, and $60 per hour for nonmembers. The space is equipped with four studio-quality microphones, four pairs of headphones and a sound board with USB connections for users to record to a laptop. The Work Well was developed and managed by Caldwell Cos., and is located at Highway 290 and FM 1960.