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This Week's Houston Deal Sheet

With the help of JLL's capital markets team, Matthews Retail Advisors brokered a deal for two CarMax Superstores in ideal retail nodes with outstanding visibility, access and triple-net leases.

Carmax

Realty Income Corp acquired CarMax-Dallas and CarMax-Houston as a package. Matthews brokered for seller Thompson National Properties. CarMax-Dallas is at 4448 West Plano Pkwy in Plano and CarMax-Houston is at 19500 Northwest Fwy in Houston. 

SALES

OrangeStone Capital purchased a 125k SF office building at 555 Gemini in the Clear Lake submarket.

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NAI Partners' John Ferruzzo executed the acquisition of a 9k SF industrial service center in League City. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller, OWL Freeway Properties. 

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Advantage Office Products purchased 5802 Gardendale Drive, a 10k SF Class-C industrial warehouse in Houston from Barry Bearden for an undisclosed price. CRC Real Estate’s Stephen Hazen and Lee & Associates’ Preston Yaggi repped the buyer.  Jim Bayne with Investar Real Estate Services repped the seller.

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North Willow Place

John Ferruzzo and Travis Land at NAI Partners repped Steadfast Development in the disposition of a newly constructed 20k SF industrial office/warehouse facility at 8316 North Willow Place. Edge Realty’s Jed Mandell repped the buyer.

LEASES

Westchase District leased 4k SF of office space at the Towers at Westchase. NAI Partners’ Jason Whittington and Liz Westcott-Brown repped the tenant, and Stream's Stewart Lyman repped the landlord.

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Chris Caudill of NAI Partners helped Service Masters Southwest renew its 14k SF warehouse/office space at 12613 Executive Drive in Stafford. Boyd Commercial's Bo Pettit repped the landlord, Crow Holdings.

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An undisclosed tenant leased a 17k SF industrial flex building in Stafford. Mike Gornek and Peyton Easley with ICO Commercial repped the landlord.

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Bayou City Cabinets leased 10k SF of distribution space at 1665 Townhurst Drive in Houston. NAI Partners' Chris Caudill and Wade Carter repped the tenant, and LPT's Christie Weiss repped the landlord. 

EXECS

Phillip Price

Philip Price (above) joined NGKF's Houston office to grow its Texas tenant representation service platform. Philip, who joins as executive managing director, will specialize in corporate advisory, strategic planning and tenant rep. He spent the last 15 years at Cushman & Wakefield. 

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Jerry Smith joined Keener Investments as managing director and CFO. Jerry previously served as VP and controller of Freeport LNG.