This Week's Houston Deal Sheet
After 17 years at Uptown Park, Bella Rinova Salon will move to River Oaks District, making it the only salon in the posh shopping, dining and entertainment project.
Bella Rinova will go from its current 2k SF to 5k SF of interior space and an amazing 1,800 SF covered patio. Transwestern’s Nick Hernandez brokered the move.
EXECS
Chris Farrar joined Henry S. Miller as the director of capital markets, and Paul Vernon joined as EVP and the new head of the company’s retail division.
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NAI Partners’ Property Services Division promoted Sam Hansen to SVP focusing on landlord rep of a portfolio of Class-A and B office buildings. Jake Wilkinson was promoted to senior associate.
LEASES
Daiso California signed its first lease for 10k SF of retail in Mason Park Shopping Center. The Japan-based retailer plans to open a dozen stores in the Houston area in the next two years. NewQuest’s Heather Nguyen repped Daiso, and Global Fund Investments’ Adam Blustein repped the landlord, EQYInvest II.
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Performance Radiator leased 12k SF at 2520 Fairway Park. Boyd Commercial’s David Boyd repped the tenant, while David Munson and Greg Barra repped First Industrial, the landlord.
SALES
16727 Park Row LP purchased a 90k SF office/warehouse facility at 16727 Park Row in Park Ten Business Park. The seller was EAS Properties. Southwest Realty Advisors’ Marc Drumwright (shown here on the far right) handled the sale for both buyer and seller.
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A limited liability company sold West Shopping Center, a 19k SF retail property at 13442 Bellaire Blvd. Marcus & Millichap’s Watt Harrison and James Bell marketed on behalf of the seller.
DEVELOPMENT
Baker Katz started construction on a new retail building at I-10 East and Haden Road. The building is 100% leased to AT&T, Frost Bank and Chipotle. Construction will completed in July.
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The Pearl Fincher Museum of Fine Arts will begin construction on a second museum location near Tomball. The 50k SF facility will be near the Grand Parkway and Highway 249.
FINANCE
BMC Capital’s Tony Talamas arranged a $2.6M loan for the purchase of a 96-unit multifamily property in Dickinson. The loan featured a two-year interest-only period that allows the buyer to implement a significant capital improvement plan over the first year.
THIS AND THAT
Westchase District received a “Great Texas Trail Boss” service award at the 2016 Texas Trails and Active Transportation Conference. The award, given by the Texas Trails Network, recognizes the District for its regional leadership role in the planning and implementation of urban areas that offer trails, bikeways, pedestrian paths and access to public transportation.
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JP Realty Partners retained Moody Rambin as the exclusive leasing agent for the Memorial 6 Center building in the Energy Corridor submarket. The 10-story, Class-B building is 155k SF with about 14k SF available. Spencer Starkey and Bob Cromwell will handle leasing for Moody Rambin.
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Cabela’s opened its doors at the intersection of I-45 and Big League Dreams Parkway in a Pinnacle Alliance Fund development. The 72k SF sporting goods store celebrated its Houston debut with four days of events, giveaways and exhibitions.
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The Houston Maritime Museum will leave its location in the Museum District and move to a new $50M museum near the Port of Houston. The new museum will open at the end of the year in a former house at 2201 Dorrington St.
