This Week’s Houston Deal Sheet
Tomball Independent School District purchased the former corporate headquarters of BJ Services, a 571K SF campus in Tomball.
The Class-A office and industrial complex is situated on 70 acres at 11211 FM 2920, just east of the newly expanded Texas State Highway 249 Tollway. The campus has 235K SF of office space, including 33K SF of lab area, as well as 300K SF of industrial warehouse and crane-served manufacturing space. Another 20 acres of land is available on the campus for future expansion.
The buyer was represented by First Group Commercial Real Estate’s Mario Arriaga, while the unnamed seller was represented by Colliers International’s Tom Condon Jr., Greg Cizik and Edward Edson.
Brett Williams joined Cushman & Wakefield as senior managing director and city leader for the Asset Services division in Houston. Williams joins Cushman & Wakefield from Transwestern, where he was the managing director of business development for the Asset Services division.
He held previous leadership positions with Madison Marquette, where he oversaw operations of a property portfolio exceeding 40M SF. Williams has also worked for Weingarten Realty, Equity Office Properties and Thomas Properties Group.
Whitebox Real Estate opened its third Texas office in Houston. Houston-native and commercial real estate veteran Andrew Brod has been tapped to run the operations and add further growth to the company. The new office is located at 5847 San Felipe St., Suite 1700.
Western Alliance Bank announced the formal expansion of its commercial real estate division into key Texas markets. The bank will open new offices in Dallas and Houston, from which it also will serve the Austin and San Antonio markets. Steve Mueller will lead the Dallas, Houston, Austin and San Antonio teams and will serve as senior director, commercial banking of Western Alliance Bank’s Commercial Real Estate Division in Texas.
AMS Properties LLC acquired 2.27 acres at the intersection of Veterans Memorial Drive and Kelly Lane in northwest Houston. Epic Realty LLC’s Diamond Adatia represented the buyer, while NewQuest Properties’ Jeff Lokey represented the seller, Center Realty Inc.
An undisclosed local investor purchased a 28K SF retail center on 2.29 acres at 12507 North Freeway. The buyer was self-represented, while Newman Kelly Commercial Real Estate’s Jared Pinto represented the seller.
An undisclosed buyer purchased the 3.27-acre hard corner on Atascocita Road and Lago Forest Drive in Humble. RESOLUT RE’s Mohamed Gamal represented the seller, Gamal Enterprises.
Sunrise Capital, Zane Holdings and Goodegg Investments announced the joint acquisition of Royal Spring, a 351-unit multifamily community in Spring. The complex is new construction and the final building delivered in May. It is the 23rd asset across multiple Texas markets to be added to the collective portfolio for Sunrise Capital, Zane Holdings and Goodegg Investments.
The acquisition teams were led by Sunrise Capital’s David Davidenko and Julia Bykhovskaia, Zane Holdings’ Iqbal Mutabanna and Dustin Howard, and Goodegg Investments’ Julie Lam and Annie Dickerson.
605 Wayside LP purchased a 3.7-acre stabilized storage yard at 605 North Wayside Drive. Colliers International’s Zack Taylor represented the buyer and has been retained to lease the property. Melder Real Estate’s Jason Ryan and Webb Melder represented the seller, RYCO Real Estate #1.
Four new leases have brought Sam Houston Distribution Center, a Class-A, 833.7K SF speculative industrial project, to 100% occupancy. Developed as a joint venture between Transwestern Development Co. and J.P. Morgan Global Alternatives, construction of Sam Houston Distribution Center was completed in 2020.
Goodman Manufacturing Co. leased 494.8K SF, and the tenant was represented by Stream Realty Partners’ Seth Koschak. Foxconn Assembly LLC leased 200.2K SF, and Newmark’s Reggie Beavan and Joshua Brown represented the tenant.
Freeway Logistics leased 97.4K SF, and Cushman & Wakefield’s Beau Kaleel and Foreman represented the tenant. Thunder Logistics leased 41.3K SF, and JLL’s David Buescher represented the tenant.
Transwestern’s Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond provided leasing and marketing services on behalf of the owners.
Chempak International leased a 156.7K SF industrial facility at 10421 Mula Road in Stafford. The Class-A facility is situated on 19.2 acres within Weatherford Farms Industrial Park. Avison Young’s Anthony Squillante, Drew Coupe and Josh Morrow represented the tenant. Colliers International’s Walter Menuet, Barkley Peschel and Jason Scholtz represented the landlord, Crow Holdings Industrial.
Venus Aerospace leased 35K SF of office space at 12577 Blume Ave. in southeast Houston. The tenant was represented by The Richland Cos.’ Ross Thomas, while the landlord was Signature Flight.
AllianceBernstein LP leased 11.2K SF at Bank of America Tower in downtown Houston. The firm is relocating its local private wealth office, Bernstein Private Wealth Management, from 1000 Louisiana St. Newmark’s Steve Biegel represented the tenant, while CBRE’s Kristen Rabel and Parker Duffie represented the landlord, Beacon Capitol Partners, in the transaction.
CONSTRUCTION AND DEVELOPMENT
Cabot Properties Inc. has acquired 13 acres in northwest Houston for a speculative industrial development. The project will include an initial building called the Axis Northwest Distribution Center, which will be a 201.2K SF front-load distribution building situated at the southeast corner of Fallbook Drive and Windfern Road.
Stream Realty Partners has been tapped by Cabot to provide leasing, property management and development management services for the project. Stream’s Justin Robinson and Matteson Hamilton will represent Cabot in the leasing of the project. The firm’s Tyler Wellborn, Kyle Fletcher and Erin Patterson will handle the development management for Stream.
Wet Sounds has opened its new 118.4K SF facility in Rosenberg. A build-to-suit project by Houston-based KDW, the new Wet Sounds facility is situated on a 27-acre tract at 2975 Louise St. The Rosenberg site also has been master-planned to accommodate a total of 275K SF of future development.
NorthMarq’s Matt Franke and Michael Borden arranged the refinancing of Heritage Place II, a 16.6K SF medical/professional office property at 21325 Eva St. in Montgomery, northwest Houston. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with Standard Insurance Co. The Class-A property is currently 100% occupied with three tenants.