This Week’s Houston Deal Sheet
Hunt Southwest Real Estate Development has begun the construction of Cedar Port Trade Center, a 1M SF warehouse and distribution facility that will be the largest speculative industrial building in the greater Houston area.
Cedar Port Trade Center is located within TGS Cedar Port Industrial Park, at the intersection of FM 1405 and Borusan Road in Chambers County, and has a March 2021 delivery date. In addition, 25 acres of adjacent land allows for the expansion of the building to 1.3M SF, or the addition of parking or outside storage.
The facility is ideally located for warehousing, distribution and fulfillment operations, and it offers access to the Grand Parkway, Interstate 10, State Highways 225 and 146 and the Port of Houston’s Bayport and Barbours Cut container terminals.
Powers Brown Architecture is the architect on the project, and E.E. Reed Construction is the general contractor. CBRE’s Jason Dillee and Nathan Wynne are the leasing agents for Cedar Port Trade Center.
Blake Steele joined Avison Young as an associate in the company’s Houston office, focusing on landlord representation and expansion of the firm’s agency leasing and property management platform. Steele will work closely with principals Sam Hansen and Doug Pack.
Nitya Capital purchased Chasewood Technology Park, a four-building office campus totaling 464K SF in northwest Houston. Chasewood Technology Park consists of four multistory buildings, which are 92.9% leased to a diverse array of tenants in the oil and gas, consulting, technology, engineering, architecture, healthcare and food services industries.
JLL’s Rick Goings and Ethan Goldberg represented the seller, The GenCap Group, and procured the buyer. JLL also worked on behalf of Nitya Capital to secure a $46M loan through Morgan Stanley. Those financing efforts were led by JLL’s John Ream and Laura Sellingsloh.
Realterm Logistics purchased a 132K SF distribution center at 6410 West Sam Houston Parkway North. The build-to-suit distribution building sits on 18.2 acres and is currently occupied by FedEx Ground. Colliers International’s David Carter and Jess Peltier represented the undisclosed seller in the transaction.
Vantage at Tomball LLC purchased 15.92 acres at 9102 FM 2920 in Tomball. Buffalo Real Estate Partners’ Justin Patchen represented the buyer, while NewQuest Properties’ Brad LyBrand and Glenn Dickerson represented the seller, K. McGaughy FM 2920 LLC.
Beacon Roofing Supply Inc. has signed a build-to-suit lease with CBDR Industrial LLC. The 10-year lease calls for the construction of a 125K SF distribution facility with a 20K SF office on a 14-acre site at 1031 Bammel Road in north Houston. Construction of the facility started in August and completion is slated for July 2021. Black Label Commercial Group’s Beau Harris represented the landlord.
Painted Tree Marketplace has leased 41.5K SF in the First Colony Commons Shopping Center, located at 15425 Southwest Freeway in Sugar Land. Wulfe & Co.’s Kristen Barker and Katherine Wildman handled the transaction.
Kratos Building Products leased 28.1K SF within Building 2 at Parc Air 59, the 320K SF urban industrial development in Humble. The transaction marks the sixth lease signed at the property. Henry S. Miller's William Sanders and Darrell Hurmis represented the tenant, while Cushman & Wakefield's Beau Kaleel and Allison Bergmann represented the landlord, Jackson-Shaw.
An undisclosed tenant also expanded its footprint at Parc 59 from 120K SF to 160K SF. CBRE’s Brian Askins and Steve King represented the tenant, while Cushman & Wakefield’s Beau Kaleel and Allison Bergmann represented the landlord, Jackson-Shaw.
Dart Interests has relaunched Republic Square in west Houston and has welcomed several new tenants to the 35-acre campus.
Samsung recently leased a 4K SF space and was represented by LUXE Executive Group’s Nichole Thalji. Digital consulting services firm Sparkhound leased 4.5K SF, citing a September move-in date. Savills’ Noah Kruger represented the tenant. GATE Energy leased 24.3K SF, with a target commencement of November. NAI Partners’ Alex Taghi represented the tenant.
The landlord, Dart Interests, was represented by NAI Partners’ Jacob Aldridge and Michael Sieger in all transactions.
CONSTRUCTION AND DEVELOPMENT
McCord Development will build a 101K SF Class-A medical office building at its master-planned Generation Park community, specifically within its mixed-use lifestyle district, Redemption Square. Located at 100 North Redemption Square Road, the offices are now available for pre-leasing. Designed by Kirksey Architecture to be the signature architectural centerpiece of Redemption Square, the five-story building will feature a glass facade with views of the adjacent West Lake Park.