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This Week's Houston Deal Sheet

Lovett Industrial, a Houston-based real estate investment firm, and PCCP, a national commercial real estate investment firm, acquired the Claymoore Portfolio, which consists of 1.4M SF across 10 Class-A industrial buildings in northwest Houston.

Claymoore Business Park

The portfolio includes Claymoore Business Park and Northwest Business Park. The warehouses range from 12K SF to 275K SF.

At Clay Road and Beltway 8, Claymoore Business Park features eight cross-dock and front-load buildings totaling 1M SF, 18-foot to 24-foot clear heights and 960 parking spaces. 

At West by Northwest Boulevard and Highway 290, Northwest Business Park features one cross-dock and one front-load building totaling 378K SF, 24-foot clear heights and 746 parking spaces. The portfolio is 100% occupied by 21 tenants with a weighted average tenure of over 11 years.

Marketing and leasing efforts for the portfolio were handled by Brian Gammill, Jude Filippone and Darryl Noon of Transwestern. Trent Agnew of JLL served as broker on the transaction. Acquisition financing is provided by Voya Financial and was arranged by Michael Johnson and Wally Reid of JLL.

The Claymoore Portfolio is Lovett Industrial’s second stabilized property acquisition. It will be managed by Lovett Industrial Management.

Lovett Industrial has 3.2M SF under construction and 3.3M SF of completed developments between seven projects in the Houston area.


CenterSquare Investment Management, in a joint venture with K8H Ventures, acquired Piney Woods, a to-be-built 394-lot manufactured housing community in the Crosby submarket of Houston.

The acquisition represents CenterSquare’s first private equity investment in the sector. K8H Ventures is a local manufactured housing operator.

Piney Woods will help address the dilemma faced by cost-burdened renters, who comprise half of the metropolitan hub, by offering an affordable housing alternative. Texas continues to lead the United States for annual manufactured housing shipments by state. 

Piney Woods will offer amenities, including a swimming pool, a basketball court, a playground, walking trails and green spaces. 

The land is shovel-ready, and lots will be developed over a 12-month period. Completion is scheduled for August 2024.


The Business Center at Five Corners

The Business Center at Five Corners, a Class-A, five-building Beltway 8 project by Levey Group, signed leases with six new tenants totaling 213K SF.

The 550K SF project is situated on 44 acres in southwest Houston featuring more than a half-mile of Beltway 8 frontage between Post Oak and Hiram Clarke roads.

The leases include:

  • Porcelanosa USA leased 70K SF for distribution of its tile, flooring and building materials.
  • Ashford Dairy, part of Berg Hospitality, leased 52K SF for uses that include a commissary, test kitchen and refrigerated storage.
  • Merit Brass leased 34K SF where the company will warehouse and distribute its metal pipe, fittings, valves and plumbing components.
  • Freedom Forever leased 26K SF to warehouse and distribute its solar panels, batteries and associated renewable energy equipment.
  • Makitso leased 19K SF for distribution of the company’s digital display products and kiosks.


The Business Center at Five Corners is a joint venture between Levey Group and ANICO Eagle, a member of American National Group.

Oxford Partners announced the following leases:

  • Liberty Litigation Support leased 4K SF at 12777 Jones Road in Houston. Oxford Partners’ Chase McAteer represented the tenant, Liberty Litigation Support. The landlord, Belvoir Real Estate Group, was represented by Adam Strauss of Belvoir Real Estate Group.
  • Nguyen Offices leased 4,671 SF at 2929 Allen Parkway in Houston. Oxford Partners’ D.J. Hale represented the tenant, Nguyen Offices. The landlord, AIG, was represented by Kristen Rabel of CBRE.
  • Hope Lutheran Church sold a 5K SF building at 634 West Cottage St. in Houston. Hale represented the buyer. Marcela Amador of Home Central Real Estate Inc. represented the seller.
15450 Diplomatic Plaza Drive in Houston

Transwestern Real Estate Services negotiated a 125K SF lease on behalf of Everwood Real Estate Partners with Weatherford International, a global energy services company, at 15450 Diplomatic Plaza Drive in north Houston. Weatherford will occupy 100% of the Class-A freestanding distribution building.

Transwestern’s John Ferruzzo, Craig Bean and Nick Peterson represented the landlord, Everwood Real Estate Partners, and CBRE’S Jim Stark and Wyatt McCulloch represented the tenant in lease negotiations.

Weatherford plans to consolidate several of its Houston locations into the newly renovated distribution center. The oil and gas company operates in 75 countries and has 345 locations worldwide.

Everwood, a commercial real estate investment and development firm formed in August 2022, purchased the vacant building on March 31, and recently completed exterior and interior upgrades. The tenant plans to complete an extensive interior build-out to suit its needs prior to full occupancy.


The NHP Foundation will receive $1.5M in capital grant subsidy funding from The Corporation for Supportive Housing. The funding is earmarked to pay costs incurred from the construction of 11 apartment units of permanent supportive housing at the Citadel at Elgin in Houston. The complex  opened earlier this summer and is nearing full occupancy.

The Citadel at Elgin is one of five NHPF affordable apartment communities in Houston. Others include Cleme Manor in the Fifth Ward and Pepper Tree Manor in Spring Branch. Properties under construction include RoseMary’s Place Apartments and Temenos Place Apartments in Midtown.