This Week's Houston Deal Sheet
Pagewood and Wile Interests will open The Quad, a four-building workspace, in the third quarter of this year.
The CityCentre-area development at 1410 Brittmoore Road will contain 40K SF when it opens and offer leases of between 2.5K SF and 40K SF.
Mark Odom Studio designed the space. The development, dubbed a workspace community, will incorporate contemporary design elements.
“The design strategy for the exterior will include a very dynamic graphic vinyl wrap intended to spark a moment of curiosity from the busy street, while still maintaining a modern, industrial edge,” Mark Odom Studio Founding Principal Mark Odom said in a release. “Our design intent is to promote social connectivity while providing a sense of place for local businesses.”
PEOPLE
Partners Real Estate Co. hired Carter Perrin as managing director and partner, overseeing development for Partners Capital.
Perrin was previously a principal at Pinpoint Commercial.
SALES
A 1.45M SF industrial portfolio traded hands.
Both Northwest Houston Portfolio, which includes 741K SF and eight buildings, and 610 Loop Portfolio, which includes 709K SF and five buildings, were sold to an unnamed undisclosed investment and management company.
Cushman & Wakefield National Industrial Advisory Group's Jim Carpenter, Jud Clements, Robby Rieke and Taylor Starnes represented the seller, as did C&W industrial brokers Jim Foreman and Brooke Forrest.
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American Landmark Apartments acquired H6 Apartments in Houston, a 293-unit complex. The complex will be renamed Neo at Ten. It's located at the Energy Corridor, near the junction of Highway 6 and Interstate 10.
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Bridgewell Industrial Portfolio sold a 154K SF, six-building industrial facility at 2950 Shaver St.
The Pasadena property was bought by an unnamed party represented by Newman Kelly Commercial Real Estate's Jared Pinto. Bridgewell Industrial Portfolio represented itself.
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Riverbend Development bought Storage Depot, a 59K SF self-storage facility at 6320 College St. in Beaumont.
Dave Knobler, of Marcus & Millichap's Houston office and partner in the LeClaire-Schlosser Group, partnered with the firm’s Fort Worth-based Karr-Cunningham Storage Team to market the property for a privately held Texas-based investment group. The buyer, El Paso-based Riverbend Development, was procured by Knobler and Marcus & Millichap's Brandon Karr and Danny Cunningham.
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Beltway Coalition sold a 22K SF office and manufacturing facility at 13720 FM 529. Three Diamond Holdings bought the property. The seller was represented by NAI Partners' Chris Caudill and Jake Wilkinson.
LEASES
Préscolaire Early Learning Academy leased a 10K SF space at 9554 Louetta Road.
NAI Partners' Jason Gaines and Zach Leger represented landlord Cedar Knob Investments.
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US Security Associates renewed its 12.8K SF lease at 11811 North Freeway. Cushman & Wakefield's Morgan Colt represented the tenant; landlord Hartman Income REIT was represented by Thomas Emde, also of Hartman Income.
FINANCING
Lightstone Capital provided $14.75M to finance the acquisition and renovation of a 176-unit Alief multifamily complex.
The complex, Villa Ana, was built in 1979 and is at 10101 West Sam Houston Parkway. CBRE Executive Vice President Jim Richards brought the deal to Lightstone Capital.
