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This Week’s Houston Deal Sheet

High Street Residential, the residential subsidiary of Trammell Crow, has broken ground on a 43-story, 309-unit residential tower in Downtown Houston.

This Week’s Houston Deal Sheet
A rendering of the new residential tower at 808 Crawford in Downtown Houston.

The new residential tower at 808 Crawford St. will offer a mix of one-, two- and three-bedroom apartment homes, including two-story townhome-style units and penthouses. Residents will have access to three levels of amenities. The project is slated to deliver in late 2022.

808 Crawford is adjacent to Discovery Green, and will be the only luxury high-rise in the area that offers direct access to the Houston skywalk/tunnel system.

Ziegler Cooper Architects is the project’s architect, while Andres Construction is the general contractor. Other design partners include Walter P Moore, SCA Consulting Engineers, Kudela & Weinheimer, Wylie Consulting Engineers and Waldrop + Nichols. The construction loan for the project is provided by Sumitomo Mitsui Trust Bank.

PEOPLE

JLL Managing Director, Capital Markets Cortney Cole has been appointed the incoming Houston District Council Chair of the Urban Land Institute, effective July 1. Cole will serve a two-year term as the chair for Houston ULI’s local council, and succeeds Abbey Roberson, vice president of planning for the Texas Medical Center. Cole has been a member of ULI since 2003, and previously served in leadership roles as treasurer and partnership chair.

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Lonna Jenks joined JLL as vice president of the Houston Office Tenant Representation team. Jenks has experience representing national and local clients on renewals, expansions, site selections, general consultation assignments and acquisitions, as well as assisting clients with international requirements in Europe and Canada.

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Multifamily investment sales brokers Greg Austin, Travis Austin and Jackson Hart joined Marcus & Millichap from JLL. Greg Austin joined as senior managing director of investments, Travis Austin as a senior associate and Hart as a financial analyst.

SALES

This Week’s Houston Deal Sheet
Midstream Business Park in Mont Belvieu.

Kimberlee Partners LP purchased Midstream Business Park, a 23.7K SF flex building at 2830 FM 565 in Mont Belvieu. The property is a fully leased, deed-restricted business park. Capital Real Estate Commercial’s Hart Schleicher represented the buyer, while Colliers International’s Judd Harrison and Jason Tangen represented the seller, Bellwether Interest LLC.

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An undisclosed buyer purchased 24.55 acres at 400 West Sam Houston Parkway South. CRC Real Estate’s Dick Glass represented the buyer, while Lee & Associates’ Justin Tunnell represented the seller, Cameron International Corp.

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Montgomery County Drainage, District 6, purchased 52.8 acres in Montgomery County, about 30 miles north of Houston, at the end of Blair Road. The site will allow the new owner to provide better drainage solutions for the residents and businesses in the district. The undisclosed property owner was represented by Land Advisors Organization’s Kirk Laguarta and Duane Heckmann.

LEASES

Xavier Educational Academy leased 13K SF at 3100 Wesleyan St. The school chose to move to a larger location from its prior 6K SF facility in order to educate students in the safest and healthiest way possible amid the coronavirus pandemic. The move will take place in stages, with all students expected to be in the new space by Oct. 1. The landlord of the property is Hartman Reit Architect Co.

CONSTRUCTION AND DEVELOPMENT

This Week’s Houston Deal Sheet
Tower 5040, a student housing development adjacent to the University of Houston's main campus.

WGC Partners has completed its luxury student housing development, Tower 5040, nearly a month ahead of schedule. The eight-story, 147-unit, 405-bed property is located adjacent to the University of Houston’s main campus. Residents began moving into the property this week, with the bulk of students expected to take occupancy in August. The development was designed by Humphreys & Partners Architects, interior design was completed by HPA Design Group, and landscape design was by HP Landscape Architecture. Construction was handled by Arch-Con Construction.

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Houston nonprofit Avenue has announced a partnership with YMCA of Greater Houston to bring a new early childhood education facility to Avenue Center, a new community resource center coming to Near Northside. The 30.5K SF facility will first open in August as the new headquarters for Avenue at 3517 Irvington Blvd., and will offer virtual services until in-person services can resume.

The YMCA Children’s Academy, which will replace an existing YMCA program at Second Christian Church, will be located on the first floor of Avenue Center. Construction on the academy and outdoor playground begins this month and services are expected to open to neighborhood families in late fall 2020.

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The Parklane residential high-rise building at 1701 Hermann Drive is being converted into condominiums. The reconstruction of residences within the 35-story building began in January, and a portion of those condominiums is already ready for move-in. The renovation of all 195 residences is slated for completion in December 2021. Construction on the fitness center, the amenity deck and the lobby will begin during the fourth quarter, with an anticipated completion of the second quarter of 2021. Elevated Group at Compass will be handling the sales of the condominiums. The developer, Tema Development, has engaged Mirador Group as the architect, interior designer and landscape architect.

THIS AND THAT

Central Management Inc. has been retained by Vigavi Realty as property manager of West Ten Industrial Park, Building 2, 7828 Columbia, Katy and Building 4, located at 7748 Cherokee Road, Katy. Building 2 is composed of 16.8K SF while Building 4 is 9K SF. Vigavi Realty’s Luis Villarreal represented the landlord, while CMI’s Victor Vacek Jr. and Paul Panus Jr. represented the company.

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Southside Commons, formerly Palace Bowling Lanes, located at 4191 Bellaire Blvd. has designated Central Management Inc. as the property management and construction supervision firm. Triple Crown Investments is redeveloping the 80K SF mixed-use space. CMI’s James Sinclair will serve as property manager and construction supervisor, while Paul Panus Jr. will serve as property supervisor.