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This Week’s Houston Deal Sheet

Healthpeak Properties has broken ground on a 116.5K SF medical office development at 7500 Fannin St. The building is on the campus of The Women’s Hospital of Texas.

This Week’s Houston Deal Sheet
A rendering of the new medical office building under construction at 7500 Fannin St.

The five-story, Class-A medical office building is being constructed alongside a new parking garage. The building is part of a larger master-planned expansion that includes a new, redesigned hospital entrance that will provide access points from Old Spanish Trail and Fannin Street.

Construction on the project began in late May, and the building is slated for delivery in December 2021. The property is 36% pre-leased with the largest commitment from Houston Women’s Care Associates, a 14-provider practice that is expanding its on-campus footprint.

Transwestern has been engaged to provide leasing services for 7500 Fannin, in addition to the other 34 assets that the company leases on behalf of Healthpeak across Texas and Colorado.

PEOPLE

Howard Hughes Corp. appointed David O’Reilly president of the company. O’Reilly will also continue to serve as chief financial officer, a position he has held since joining the company in 2016. 

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Manhattan Construction Co. promoted Alan Dunnam to operations manager in Houston. He will oversee construction quality, subcontractor management and safety program adherence. Dunnam joined Manhattan in 2015 as a senior superintendent.

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Ed Page, co-founder of Streetwise Retail Advisors, has stepped down from his leadership and managerial duties with the firm. Page will remain active in the company as a broker and consultant. The leadership duties will continue with the other Streetwise partners, Ed James, Scott Gardner and Jack Burgher.

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Kevin Holland joined SRS Real Estate Partners as managing principal with the Investment Properties Group in the Houston office. Holland was brought on to strengthen SRS’ capital markets presence in the central region and complement the investment sales teams across the nation. He most recently served as a principal with EDGE Realty Capital Markets.

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Krystal Mutina and Joe Marburger joined NewQuest Properties’ Land Brokerage and Tenant Representation Group. Mutina will serve as vice president with a dual focus on land and tenant representation. Marburger is a new graduate of Georgia Southern University. The new hires will expand the group to 12 brokers, 10 of whom are senior executives.

SALES

This Week’s Houston Deal Sheet
A rendering of the 336-unit multifamily complex at 12115 Main St.

Alliance Residential Co. purchased 13.08 acres at 12115 Main St. near the Texas Medical Center to develop a 336-unit multifamily community as part of Saint Nicholas Place. The property is part of a 46.82-acre tract owned by the seller, Taeken Ltd. Alliance plans to develop a three-story garden apartment community with one- and two-bedroom units. JLL’s Chris Bergmann Jr. represented the seller. Alliance was not represented.

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Urban Genesis LLC purchased a 17.4K SF industrial property at 1702 Nance St. Dosch Marshall’s Clark Dalton represented the buyer, while NAI Partners’ Chris Caudill and Jake Wilkinson represented the seller, 125 West Crosstimbers Ltd.

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An undisclosed buyer purchased a 12.6K SF retail strip at 1019 Edgebrook Drive. The seller, Casnar Properties LLC, was represented by Belvoir Real Estate Group’s John Baddour.

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A division of MVL Group acquired the Republic Building, an eight-story, 19.9K SF office building at 1018 Preston St. in Downtown Houston. The building once housed the U.S. District Court in 1910, and was admitted to the National Register of Historic Places in 1979. The buyer was represented by Bejjani & Associates’ Fred Ghabriel, and Cushman & Wakefield’s Scott Miller, David Cook and Jeff Peden represented the seller, Republic Building TX LP.

LEASES

This Week’s Houston Deal Sheet
A rendering of the newly renovated Floor & Décor store at Clear Lake Center in Webster.

Floor & Décor leased 91.1K SF at the Clear Lake Center in Webster, bringing the newly remodeled property to 99% occupancy. No official opening date has been announced, but the business is targeting to open before the end of the year. United Equities’ Doug Freedman represented the landlord, Clear Lake Center LP, and Collum Commercial’s Joan Collum represented the tenant.

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Law firm Weycer, Kaplan, Pulaski & Zuber P.C. leased 16.8K SF on the top floor of Weslayan Tower. The 20-story, 510K SF Class-A office building is just inside Houston’s 610 Loop at 24 East Greenway Plaza, on the northeast corner of Weslayan and Highway 59. CBRE’s Kevin Kushner represented the tenant, while the landlord, Granite Properties, was represented in-house by Jon Dutton and Steve West.