This Week’s Houston Deal Sheet
Hallmark Floors purchased a 170.5K SF, Class-A, newly constructed distribution center at 730 Genoa Red Bluff Road in southeast Houston.
Southeast Distribution Center, a front-load facility, is near Port Houston, which will allow Hallmark Floors to better serve its distributors and dealers east of the Rocky Mountains.
Powers Brown served as the architect of the facility, Burton Construction was the general contractor and WGA was the civil engineer. Construction financing was provided by Amergy Bank.
The buyer was represented by JLL’s David Buescher and Louis Tomaselli, while the seller, Vigavi SEDC, was represented by CBRE’s Nathan Wynne and Cape Bell.
PEOPLE
Justin Titcombe joined SRS Real Estate Partners as first vice president in the Houston office. Prior to SRS, Titcombe served as vice president of real estate with Stage Stores and also worked for Cato Corp., where he oversaw all store expansion and relocation plans in Texas, Louisiana, New Mexico, Arizona and Nevada.
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Donald Schultze and Anar Shah joined Lionstone Investments. Schultze will serve as vice president and client portfolio manager on the Capital Formations team, supporting product development, investment relations, marketing and sales. In his prior role, Schultze served as a principal with Rubenstein Partners.
Shah will serve as director of the Capital Formations team, where she will grow Lionstone’s client relationships by finding new sources of capital through the retail and intermediary channels and enhance client service and communication to existing clients. Shah has held roles with Citigroup, Morgan Stanley and Prescott Realty Group and has been involved in institutional business development, investor relations and capital raising.
LEASES
Goree Architects leased 14.2K SF of office space at Sage Plaza in the Galleria submarket. It is moving its headquarters from 4710 Bellaire Blvd. to 5151 San Felipe, expanding from 8K SF to 14.2K SF, as the business adds new service lines and employees. The new suite will occupy the majority of the 17th floor of Saga Plaza. The tenant was represented by Avison Young’s Anthony Squillante and Collin Roach, while the landlord, Granite Barnhart Sage Plaza LP, was represented by CBRE’s Nina Seyyedin and Jason Presley.
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RCP Inc. renewed its lease for 12.3K SF at 801 Louisiana in Downtown Houston. The tenant was represented by Avison Young’s Anthony Squillante and Josh Morrow. The landlord, 801 Louisiana Partners LP, was represented by Boxer Property’s Trey Miller.
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Tokyo Gardens leased 41.1K SF at ClayPoint Distribution Park at 8820 Clay Road. Moody Rambin’s Zack Taylor represented the tenant, while Stream Realty Partners’ Matteson Hamilton represented the landlord, DRA Advisors.
FINANCING
NorthMarq’s Matthew Bronstein secured the refinancing of 3322 Richmond, an 18K SF office building in the Greenway Plaza submarket. NorthMarq arranged financing for the borrower, M-K-L Properties, through its correspondent relationship with a life insurance company.
THIS AND THAT
PM Workforce is expanding its outsource leasing services from Houston to include Austin, San Antonio and Dallas. The company will recruit, train, test and certify leasing consultants, and leasing services will include conventional, tax credit, lease-up, acquisition, disposition, senior housing and student housing.
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NAI Partners’ Landlord Services Division has added a new business line, Partners Facilities Services, that will be offering owners, users and tenants of small to midsized office and/or industrial buildings the chance to have access to facility services. The company hired Andy Uschold to lead the new line of business in Houston, in the newly created role of director of Facilities Services. Uschold will be responsible for leading the day-to-day operations of the new business line, helping connect providers across the full range of facilities services with owners and tenants.
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Houston-based commercial real estate developer Simpkins Group was purchased by two of its partners, Rob Bryant and Will Stacy, upon the retirement of founding partner Doug Simpkins. The firm will now be called Bryant Stacy Group, effective May 1. Bryant and Stacy have been partners with Simpkins for 18 and 15 years, respectively, after spending time with other firms. Bryant Stacy Group’s new address is 520 Post Oak Blvd.
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Chamberlain Hrdlicka has launched a Technology & IP Transactions practice. Collin Rose, shareholder and chair of the intellectual property practice at Chamberlain Hrdlicka, has been appointed to lead the new practice, which will focus on business transactions driven by intangible assets, technological assets and intellectual property rights. The new group will help clients structure and negotiate commercial IP agreements to minimize business and financial risks.
