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This Week's Houston Deal Sheet

Memorial Hermann Pearland Hospital will open as scheduled in the third week of March.

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The new 64-bed hospital is on the southbound side of Highway 288 near FM 518. The new campus will include a convenient care center, an intensive care unit, operating rooms, cardiac catheterization labs, medical/surgical units, and women's and neonatology services.  

EXECS

Josue Reyes was promoted to VP/account manager at Skanska USA.

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Marshall Ballard joined The Howard Hughes Corp as director of business development.  

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The Richland Cos hired four: Thomas Townsend joined as acquisitions and asset manager, Mitchell Covell is the new director of leasing, and both Eric Brown and Jill Waggoner joined as financial analysts.   

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LEASES

Blanchard Refining Co renewed 26k SF at Bay Plaza Office Complex at 711 W Bay Area Blvd. The building is owned by the Richland Cos.

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Gracie Barra Heights leased 22k SF of retail space at 4721 N Main St. NewQuest Properties’ Josh Friedlander repped the tenant. Vanguard Commercial Group’s John Delarosa repped the landlord, Braun Enterprises.

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PetSmart leased 17k SF at Westlake Marketplace, a shopping center on Beltway 8 and West Lake Houston Parkway in Humble. Streetwise Retail Advisors' Ed James repped the tenant. Fidelis Realty Partners’ Carson Wilson repped the landlord.

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Newberry Specialty Bakers leased a 16k SF building at 14151 Interdrive West. Lee & Associates’ Robert McGee and Mike Spears negotiated.

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Savvytech Security leased about 10k SF of office and warehouse space at 10651 Harwin from Insite West Belt. Sklar Realty Services’ Fred Sklar repped the tenant. Insite Commercial Real Estate’s Clay Reichenbach repped the landlord.

SALES

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Verticom purchased a 17k SF facility at 6610 Wesco Way. Lee & Associates’ Patrick Wolford repped Cuvo, the seller. Avison Young’s Kent Willis and Greg Langston repped the buyer.

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Gaia Real Estate purchased the Ranch at City Park, a 270-unit apartment community on 14 acres at 11900 City Park Central Lane. HFF’s Chris Curry, Todd Stewart, Todd Marix and JC Clemens repped the seller.

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MB Retail Associates picked up 41 acres at the northwest corner of I-10 and Eagle Drive in Mont Belvieu. Plans call for the development of a 285k SF retail development.

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Rankin Road Property snapped up a five-acre parcel in the 17000 block of US 59N in Humble. Houston Commercial Development’s Mark Wimberly repped the seller, Jack R. Lee. 

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Stone Mountain Properties bought two multi-tenant office buildings in the Westchase District totaling 154k SF. LandPark Advisors’ Peter Wall and Bill McGrath repped Stone Mountain Properties.

DEVELOPMENT

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Fort Bend County officials, the Fort Bend Toll Road Authority and TxDOT representatives celebrated the groundbreaking of the FM 1093/Westpark Extension. Phase 1 includes 4.1 miles of FM 1093 and about 2.5 miles of the Westpark Tollway extending from SH 99 to FM 1463. This phase is set to be complete by February 2018.  

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Hines installed its first tiltwall panels and signed 424k SF of pre-leases since the Beltway Southwest Business Park was first announced nine months ago. Beltway Southwest can accommodate more than 950k SF of logistics space. With 734k SF under construction, the park is 60% pre-leased.

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A new duplex residential development will be erected on 14 acres on FM 565 in Mont Belvieu. Claire Sinclair Properties’ Wade Sinclair and Claire Sinclair Gavrel handled the sale.

FINANCING

HFF’s Ed Coco and Wally Reid arranged a $64M loan for Parmenter to refinance the 806k SF Brookhollow Central I, II and III office complex at 2800, 2900 and 2950 North Loop near US 290. The interest-only loan was placed through MetLife Real Estate Investors.

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