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This Week’s Houston Deal Sheet

Midway CEO Jonathan Brinsden has been appointed as chairman of Urban Land Institute Americas.

This Week’s Houston Deal Sheet
Midway CEO Jonathan Brinsden

Brinsden, who succeeds Majesteka Investment Holdings founder Jack Chandler, will serve on a voluntary basis for a two-year term, starting July 1.

Brinsden joined Midway’s development team in 2001, was named chief operating officer in 2008 and CEO in 2013. He brings extensive ULI experience to his new role, having previously served as a global board director, governing trustee, ULI Foundation governor and as chair of ULI Houston.

PEOPLE

Morgan Group has announced the succession of Philip Morgan to CEO and the promotion of Evan Schlecker to executive vice president, effective July 1. Morgan has previously served in a variety of roles at the company. Schlecker previously served as division head, East Coast Region, and will remain based in the firm’s Miami office. Mike Morgan will retain his title as chairman, while Alan Patton will continue as president of Morgan and head the investment committee, and Stan Levy will remain chief operating officer and chief financial officer.

SALES

This Week’s Houston Deal Sheet
The Jack Hilliard Distributing Co. building at Clay Road Commerce Park.

Jack Hilliard Distributing Co. purchased a 2.7-acre parcel on Clay Center Drive in Clay Road Commerce Park. The company is building a 40K SF facility on the site, which will be the 16th building to deliver in the 90-acre industrial park. CBRE’s Jim Stark represented the buyer, while Insite Realty Partners’ Rives Nolen, Steve Hazel and John Stavinoha represented the landlord, Clay Road Partners LP.

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An undisclosed buyer purchased 2.53 acres at 22475 Community Drive in New Caney, northeast Houston. Resolut RE’s Mohamed Gamal represented the seller, Gamal Enterprises Inc.

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Wild Rose Farm LLC purchased 15.72 acres at the intersection of FM 1488 and North Mill Drive, Magnolia, from the Robert F. McWhorter and Robert Frank McWhorter Trust. NewQuest Properties’ Brad Elmore represented the buyer, and NewQuest Properties’ Rob Whitaker represented the seller.

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Langfield Industrial LP and Langfield Land LLC purchased 10.49 acres at the intersection of Wilshire Place Drive and Langfield Road in northwest Houston. NewQuest Properties’ Brad LyBrand and Glenn Dickerson represented the buyer, and Weirich Management Team’s Howard W. Mays Jr. represented the seller in the direct deal.

 

LEASES

Prestige Purified Water LLC leased two newly built industrial buildings for a total of 12K SF at 12462 and 12470 West Bellfort Blvd. Belvoir Real Estate Group’s Gabe Chalot represented the landlord, 1268 Investments LLC.

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Cottondale Wood Products leased a 75K SF tiltwall manufacturing/distribution warehouse in La Porte. The company is expanding its operations to the Houston area, and the facility will be used to produce specialty wood pallets used in the petrochemical industry. Boyd Commercial’s William Carpenter, Greg Barra and David Boyd represented the tenant, while CBRE’s Jeff Everist represented the landlord, Hines.

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MSP Drilex leased an 11.4K SF industrial property at 21227 Hufsmith-Kohrville Road in Tomball. Keen Realty Group’s Payton Indermuehle represented the tenant, while Lee & Associates’ Mike Spears and Patrick Wolford represented the landlord, Epic International.

CONSTRUCTION AND DEVELOPMENT

MHW Development and Construction completed work on three new industrial warehouses near Interstate 45 and Airtex in the north Houston area at 14613 Blue Ash Drive. MHW was the general contractor for the project, named Blue Ash Business Park, which involved construction of three new warehouses with a total available area of 23.6K SF. Two warehouses have 7.5K SF each, and the third has 8.5K SF. The project took about five months to complete, and the buildings are available for lease.

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Madison Marquette’s newest multifamily development in Midtown, The Travis, is open and welcoming residents. The Travis is a 375.8K SF, 30-story luxury apartment building with one-, two- and three-bedroom apartments and two-story penthouses. The apartments sit above 14K SF of retail, including a restaurant scheduled to open in Q1 2021.