This Week's Houston Deal Sheet
Briar Lake Village Inc purchased a 36k SF two-level retail center in the Westchase District.
Briar Lake Village is 85% leased to 12 tenants, including Subway, Capital One Bank and Comerica Bank. The price was undisclosed. HFF repped seller Berkeley Land Co, bringing everything full circle; in 2007, HFF brokered the sale to Berkeley.
EXECS
Derek Myers joined Newmark Grubb Knight Frank’s Houston office as executive managing director. He relocated from the company's Manhattan office.
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Richard Smith joined Morrison Hershfield's Houston office as a senior building science consultant.
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Vince Strake joined Colvill Office Properties as a leasing rep. He’ll be responsible for leasing and marketing a 3M SF portfolio of Class-A office properties throughout Houston.
LEASES
Foundation Building Materials leased 24k SF of industrial space at 8821 E Almeda Rd. Finial Group’s Keith Bilski, Swearingen’s Chris Mims (shown here with his wife) and Ben Goldthorpe repped the tenants. JLL’s John Talhelm repped the landlord, CG 7600 LP.
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Cypressbrook Co’s John Hornbuckle repped Legacy Paper and Packaging in leasing 24k SF at 15550 Vickery Dr. Clay Reichenbach repped the landlord, EastGroup Properties.
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Greater Metroplex Interiors leased a 12k SF freestanding industrial building at 4905 Cranswick Rd. NAI Partners’ Nick Petersen repped the landlord, RNKC Real Estate, while Lee & Associates’ Jon Sellers repped the tenant.
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Wendy's leased a 66k SF retail pad site in Shops at Katy Reserve at the intersection of FM 1463 and Spring Green Boulevard from NewQuest Properties. NewQuest’s Bob Conwell and Rachael Keener repped the landlord. NewQuest’s Danny McCormack repped the tenant.
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Bush's Chicken leased 42k SF of retail space in Bayshore Park Plaza at the intersection of Spencer Highway and Watters Road in Pasadena, from Liongate Holdings. NewQuest’s Bob Conwell and Brad Elmore repped the landlord. Read King’s Ford Jones and Will Bradley repped the tenant.
SALES
HFF’s Dan Peek, John Bourret and Colby Mueck closed the sale of Sheraton North Houston at George Bush InterContinental hotel on behalf of the seller.
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Fongs Interest purchased a 12-unit multifamily complex at 2504 South Houston Ave in Humble. Lee & Associates’ Thomas Leger and Robert McGee repped the seller, SRG Partnership. Champions Real Estate Group’s Victor Correa repped the buyer.
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Verticom purchased a 17k SF facility at 6610 Wesco Way. Lee & Associates’ Patrick Wolford and Texas CRES’ Joel English repped Cuvo, the seller. Avison Young’s Kent Willis and Greg Langston repped the buyer.
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S Main Ltd sold 47 acres on South Main Street between Hiram Clarke and South Post Oak roads. Taeken Ltd, a family limited partnership, is the buyer. The site will be a new campus for St. Nicholas School, a pre-K through eighth grade independent school. M Kidd Properties' Mark Kidd Sr. and Mark Kidd Jr. repped the buyer, and the seller was repped by Wilson-Jones Properties' Linda Jones.
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Marcus & Millichap’s Gus Lagos and Evan Altemus arranged for the sale of 66k SF of Houston Medical Center land on Holly Hall Street. The asset had a list price of $2.5M. The seller was an individual.
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Perry W. Myers Jr. sold 40 acres of industrial land to Sparco in Dayton. The land is on the east side of SH 146 at CR 492. Cushman & Wakefield’s John Littman, Kelley Parker, Coe Parker and Tim Thomas repped the seller.
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The J. Beard Real Estate Co’s Diana Gaines sold five acres with frontage on FM 2978 in Magnolia, south of the Toll Brothers' new NorthGrove at Spring Creek. Pinnacle Real Estate’s Christopher Boone repped the buyer.
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Marcus & Millichap's Nate Newman arranged the sale of Spring Crossing Retail Center, an 18k SF retail property. The asset had a list price of $4.1M and was sold by a prominent local developer.
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A local investor purchased 8700 Commerce Park Dr, a 78k SF, two-story multi-tenant office property off Highway 59 between South Gessner and Bissonnet. NAI Partners’ Doug Pack and Logan Brown Investment Real Estate’s Logan Brown repped the seller, Khoshbin Co.
THIS AND THAT
Walmart Neighborhood Market is open at The Market at Alder Trails Shopping Center at Barker Cypress and Cypress North Houston. Read King Commercial Development is handling leasing for the center.
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Quasar Galleria, the new owners of 5433 Westheimer Rd, selected NAI Partners to lease and manage their 133k SF office acquisition in the Galleria area.
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Friends of River Oaks Park and the Houston Parks and Recreation Department held a ribbon-cutting to celebrate the new playground at River Oaks Park. The scope of the work will include the demolition of a portion of the existing sidewalk, new entry gates, a new pergola and decks, and the construction of new playground equipment for 2- to 5-year-olds and 5- to 12-year-olds.
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JLL expanded its property management portfolio by 1M SF with the addition of four new assignments. Equus Capital Partners selected the firm to lease and manage 5300 Memorial Dr, a 150k SF, 11-story office building in Midtown. Energy Transfer Partners selected JLL to manage 1300 Main St, a 508k SF office building in Houston’s CBD. JLL has been tapped for property management of the 148k SF Great Southwest Building, at 1314 Texas Ave, and CREA Investments has selected JLL for property management of Westchase Place, at 11200 Richmond Ave. These assignments raised JLL’s total Houston property management portfolio to 5.9M SF.
