This Week's Houston Deal Sheet: 1M SF Industrial Project Reaches 100% Occupancy
Gulf Coast Crating expanded its footprint to 568K SF at Portside Logistics Center, bringing the 1M SF development to fully leased.
The specialty crating company has occupied 432K SF in Building 1 since September but recently added another 135K SF in Building 2. First Houston Properties’ Patrick McKiernan represented Gulf Coast Crating.
Portside Logistics Center, the two-building complex at 4838 and 4908 Borusan Road in Baytown, was developed by joint venture partners Stream Realty Partners and Principal Asset Management. Stream’s Tyler Maner and Jeremy Lumbreras handle leasing for the development.
Stream’s Justin Robinson led development management efforts alongside Tyler Wellborn, Craig McKenna, Matthew Sibley and Kristina Gibson.
PEOPLE
SVN | J. Beard Real Estate promoted Brandi Sikes to managing director of its Houston office at 25 Town & Country Way. She previously served as senior adviser and principal.
Sikes and her brokerage firm joined SVN | J. Beard Real Estate in 2021 with 25 years of experience. Throughout her career, Sikes has been involved in sourcing, negotiating and executing more than $2.7B and 13.2M SF in commercial transactions.
SVN | J. Beard Real Estate’s corporate headquarters will continue to operate in The Woodlands, with Managing Director Jeff Beard overseeing operations across the firm’s four locations.
SALES
Lion Real Estate Group, a Dallas-based real estate investment and asset management firm, acquired the Villages of Briar Forest. The 241-unit complex at 14504 Briar Forest Drive in West Houston is the eighth acquisition and the second in the Houston area for Lion’s LREG Multifamily Fund III.
Lion plans to renovate each unit and the amenities on the property. The Villages of Briar Forest was built in 1999 and underwent a partial renovation by the previous owner.
The transaction was brokered by Thomas Alleman in Newmark’s Houston office and financed by Newmark’s Los Angeles debt team.
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A local private investor purchased a 20K SF shopping center in Northwest Houston. The property was listed by Alex Wisnoski, Tyler Torres and Joel English at Texas CRES. The buyer was represented by Logan Kelly of Newman Kelly Real Estate.
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Madison Capital Group and affiliates of Cerberus Capital Management disposed of a five-property self-storage portfolio throughout the Houston and Providence, Rhode Island, metropolitan areas. The portfolio includes three Texas properties at 2919 S. Highway 146 in Bacliff and 12610 Tanner Road and 4100 W. 34th St. in Houston.
The JLL Capital Markets self-storage team, led by Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon, represented the seller.
JLL’s self-storage debt advisory team, led by Griffin Guthneck, represented the undisclosed buyer/borrower in securing acquisition financing.
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CenterSquare Investment Management acquired The Shops at Cinco Ranch, a 27K SF shopping center in Katy. The property is 96% leased.
CONSTRUCTION AND DEVELOPMENT
Toll Brothers Inc. plans to begin construction this summer on a luxury home community, Toll Brothers at Elyson in Katy. The community will have 340 new homes with three to six bedrooms. Toll Brothers at Elyson will be at 7314 Sunflower Valley Trace, and home sales will start this fall.
FINANCING
Trez Capital closed on a loan to Pelagic Property Group to be used for lot development of master-planned community Sherbrooke. Sherbrooke will be 3 miles south of Magnolia and has room for 709 housing lots throughout 207 acres. Site work construction will begin in the second quarter. Completion of the lots is expected in Q2 2026.
Joe Burke from SVN | J. Beard Real Estate represented Pelagic Property as the land broker. Sherbrooke is Trez Capital’s third project with Pelagic Property. The amount and terms of the loan weren't disclosed.
