This Week’s Houston Deal Sheet
JLL Capital Markets arranged the refinancing of Two CityWestPlace in the Westchase submarket. The office building comprises 444K SF and is within the larger four-building CityWestPlace office complex at 2107 CityWest Blvd.
JLL worked on behalf of the borrower, Parkway Property Investments, to secure the five-year, floating-rate loan. Regions Bank led the loan and syndicated half with Citizens Bank. JLL’s Susan Hill, Jett Lucia and Sherri Rollins represented Parkway in the process.
Two CityWestPlace has 20 stories of Class-A office space, which is 99% leased.
Atlanta Deferred Exchange purchased a 113.7K SF industrial building at 16001 SH 249. The buyer was represented by Moody Rambin’s Jim Autenreith, while the seller, Houston Distribution Co., was represented by CBRE.
An undisclosed buyer purchased 11.7K SF at 2232 Blalock Road. JLL’s Cody Little represented the buyer, while Moody Rambin’s Sam Rayburn and Jim Autenreith represented the undisclosed seller.
Dallas-based Mohr Capital acquired a property for retail development in The Woodlands. The redevelopment plan includes razing the 7 Leguas Restaurant building and developing a free-standing structure consisting of a Chipotle Mexican Grill restaurant and a Regions Bank branch office. Mohr Capital’s Rob Solls handled the transaction on behalf of the company.
An undisclosed limited liability company purchased Pasadena Portfolio, which comprises two workforce housing properties totaling 227 units. Those properties are at 2120 Strawberry Road and 3201 Red Bluff Road in Pasadena. The buyer will be performing extensive renovations to both the interior and exterior of those properties. Marcus & Millichap’s Jeffrey Fript and Christian Mazzini represented the buyer as well as the seller, a private investor.
A private investor purchased 3rd Street Village Apartments, a 48-unit apartment property at 310 Waco Ave. in League City. The buyer intends to make extensive renovations to the interior and exterior of the property. Marcus & Millichap’s Jeffrey Fript and Christian Mazzini represented the buyer as well as the seller, a limited liability company.
Universal Wiping Rags and Mariners Trading Corp. leased a combined 28K SF at Wallisville Industrial Park in northeast Houston. Moody Rambin’s Jim Autenreith and Sam Rayburn represented the owner.