This Week’s Houston Deal Sheet
Lionstone Investments has announced a major renovation and new programming of Sugar Land Town Square.
The firm, which owns the square, is collaborating with Dallas-based Rebees, Sugar Land-based Planned Community Developers and the city of Sugar Land on the transformation. The new square will increase public programming to further activate communal spaces, enrich the walking environment and add an array of new merchants.
Scheduled for completion by mid-2021, the first phase includes landscaping, new outdoor spaces accommodating social distancing and increased public seating areas. Colorful branding, signage and new tenant storefronts are also part of the improvements.
Chamberlain Hrdlicka hired three new associates.
Noe Gonzalez joined the firm’s Commercial Litigation practice. His practice will focus on general civil litigation involving resolution of a broad range of state and federal commercial disputes.
Tyler Greenwood joined in the Bankruptcy, Restructuring and Creditors Rights practice. He will focus on commercial litigation with a focus on restructuring and bankruptcy.
Chris Lemons joined the Commercial Litigation practice. His practice will focus on commercial litigation; business litigation; energy litigation; securities litigation; professional malpractice claims; complex tort litigation and insurance coverage involving errors and omissions; directors and officers; commercial general liability; commercial property; and commercial auto and garage.
The Woodlands Area Economic Development Partnership has announced its newly appointed officers and board members for the 2020-2021 term. Memorial Hermann The Woodlands Medical Center's Josh Urban was named chairman, Avison Wealth's Paul Carroll is the 2020-21 vice chairman, Trust Bank's Steve Smith is secretary, Woodforest National Bank's Christin Allphin was named treasurer and Caldwell Cos. Ron Roberson is immediate past chairman.
Krypto Holdings Inc. purchased a 25.2K SF industrial property at 7120 Navigation Blvd. Texas Ally Real Estate Group’s Jaime Ojeda represented the buyer, and Lee & Associates’ Patrick Wolford and Stephen Kuper represented the seller, Twelve M LLC.
Meraki Interests Inc. purchased an 18.1K SF industrial property at 9424 West Little York Road. ABCO Brokerage Services’ Eric Bunting represented the buyer, while Lee & Associates’ Mike Spears and Nick Bergmann represented the seller, 1.9 Little York Ltd.
El Gran Imperio LLC purchased a 13K SF industrial property at 3609 Bolin Road. Realty Associates’ Carlos Iglesias represented the buyer and Lee & Associates’ Jill Nesloney and John Erch represented the seller, David Lymberopoulos.
Long CAP LP purchased the 10K SF Long Point Shopping Center on 0.92 acres at 9207-9221 Long Point Road. NewQuest Properties’ Austen Baldridge and David Luther represented the seller, NU Way LLC, in the direct deal.
CenterPoint Properties purchased an industrial property in east Houston. The acquisition is a 10.5-acre pipe yard, which incorporates a 10-year leaseback and a nine-year lease extension on an existing CenterPoint building across the street at 8900 Railwood Drive. The properties are 5 miles from the 610 East Loop and 8 miles from Port Houston. The seller was Ta Chen International.
Nice Moves renewed and expanded its lease of 22.5K SF at Long Point Business Center, 6600 Long Point Road. Bridge Commercial Real Estate’s Hunter Johnston represented the tenant.
Purchase Green leased 10.8K SF at the same property. First Houston Properties’ James Mashni and Patrick McKiernan represented the tenant.
Stream Realty Partners’ Boone Smith and Garret Geaccone represented the landlord, Agellan Commercial REIT, in both deals.
R. Stahl Inc. renewed its lease of 70.3K SF at Freeport Business Center, 13259 North Promenade Blvd. Savills’ Bob Berry represented the tenant. Stream Realty Partners’ Jeremy Lumbreras and Boone Smith represented the landlord, DRA Advisors.
Oldcastle APG West Inc. leased a 25K SF industrial property on 7 acres at 227 Highway 90A in Rosenberg. The Bob Kory Team’s Robert Kory represented the tenant, while Lee & Associates’ Taylor Schmidt, Reed Vestal and John Erck represented the landlord, CCT Sparkle Family LP.
Furniture & Beyond leased 15.1K SF of retail space in Kroger Junction at 2619 Red Bluff Road in Pasadena. NewQuest Properties’ Austen Baldrige represented the landlord, 2619 Realty Holding LLC, in the direct deal.
CONSTRUCTION AND DEVELOPMENT
HCA Houston Healthcare Medical Center will embark on an enhancement and expansion of its operating rooms, clinical areas, nursing units and public spaces. The improvements at the nearly 400K SF specialty care hospital at 1313 Hermann Drive are scheduled to begin by the end of the year. Heitkamp Swift Architects and general contractor DPR Construction are leading the project’s construction team. The announcement comes as HCA Houston Healthcare Medical Center nears the completion of new cardiac catheterization labs, enhanced operating rooms and labs, and the continued development of its robotic program.
General contractor Stratton Development and Construction was awarded the development of a 125K SF distribution building that will be the new home for Beacon Roofing Supply Inc. The distribution center will include 20K SF of office space and is located on a 14-acre site at 1031 Bammel Road in north Houston. Construction of the distribution center began in August with a completion date set for the third quarter of 2021.
THIS AND THAT
DHL Express has opened a mobile pop-up store in Katy. The 2.2K SF mobile DHL ServicePoint is in the Katy Mills shopping center, which is owned and operated by Simon Property Group. The pop-up store will remain in Katy for the foreseeable future and can be relocated, as needed, based on changes in local shipping trends. The unit rests atop a hydraulic-lift platform and features a wiring solution to accommodate HVAC, security and a point-of-sale system capable of processing shipments to U.S. and international destinations. To create this mobile DHL ServicePoint location, DHL worked in collaboration with Flexetail, a designer and builder of mobile shops.
The investment arm of NAI Partners, known as the NAI Investment Fund, has rebranded as Partners Capital. The firm remains a wholly owned subsidiary of NAI Partners.
Josh Jacobs has launched a new commercial real estate brokerage, The Blue Ox Group. Earlier this year, Jacobs ended a nine-year tenure at Edge Realty Partners’ Houston office. The firm is temporarily based out of Rice Village and the team has already closed 10 deals. Another 10 are under contract, while another 40 properties are for sale or lease. The firm also has several tenant representative assignments.
Nitya Capital LLC has launched a crowdfunding platform, providing investors with the ability to attain interest in Nitya’s deals. The platform provides a full-scale range of wealth fund options across asset classes, including multifamily and office properties. It also eliminates additional fees that are typically passed along to investors using third-party crowdfunding models. Nitya has approximately $2.5B in assets under management. Opportunities are open to accredited investors and start at $25K.