This Week's Houston Deal Sheet
Leading off an active week of deals is Origin Investment's sale of Kingwood Medical Arts, a 90k SF MOB in Northwest suburban Houston. After originally purchasing the defaulted note in 2012, Origin and Transwestern turned the asset around, from 52% leased to 90% leased at the time of disposition.
The building was acquired by a nationally recognized, multibillion-dollar healthcare REIT. Kingwood Medical Arts is at 300–350 Kingwood Medical Drive. The property is anchored by a 30k SF surgical center operated by a venture between Memorial Hermann Health System and United Surgical Partners. Transwestern has been retained by the new ownership to continue providing leasing and management services.
Colliers’ Jason Tangen repped RECAP Georgia Avenue Partners in purchasing a new leased 30k SF industrial facility on eight acres in Deer Park. Cushman & Wakefield's Beau Kaleel repped the buyer.
Marcus & Millichap’s Gus Lagos and Alex Bouchard sold Pearland Central Plaza, a 10k SF retail property in Pearland. Marcus & Millichap’s Keith Lloyd and James Wilson repped the buyer, an LLC.
Marcus & Millichap’s Gus Lagos and Alex Bouchard repped the seller in the disposition of a 4,400 SF retail property at 7930 Gulf Freeway. The asset had a list price of $1.6M.
Winland Sienna Investments purchased an 18k SF office building at 1521 Green Oak Place, Kingwood, from Kingwood Oaks Realty. Adam McAlpine of McAlpine Interests repped the seller, and Proximity Real Estate Advisors' Robin Moore repped the buyer. McAlpine Interests has retained the leasing and management of the property.
Four PB purchased 23.08 acres at Richmond Retail Tract (327 Harlen Road, Richmond). Retail Solutions' Mohamed Gamal repped the seller, and Oldham Goodwin repped the buyer.
Black Label Commercial Group's Beau Harris repped Stratton Development & Construction in the sale of a 7.2k SF office/warehouse at 2113 Humble Westfield. The purchaser was Hicks Lighting Protection
Gemini Business Park was sold to Gemini BP for an undisclosed price. The 142k SF property is on 8.45 acres at 902-930 Gemini St in the Clear Lake area and is made up of three flex/office/warehouse buildings with a mix of national and notable local tenants. Lee & Associates' Preston Yaggi, Steve Kuper and Ryan Searle repped the seller. Bejjani & Associates’ Fred Ghabriel repped the buyer.
Southeast Aldine 1960 purchased 11.7 acres at 20718 Aldine Westfield Road, Houston, from Peter Nguyen. Brad Elmore of NewQuest Properties repped the buyer. J. Hunter Properties' John Nguyen repped the seller.
GMS Land Co sold three acres on the south side of I-69 to RMS Assets, which plans to construct a retail center. JPR Commercial Real Estate's Jim Shaw and Jennifer Raymond repped both the buyer and seller.
Boxer Property’s Trey Miller and Denise O’Neal repped their employer in lease negotiations with HCA Gulf Coast Division for 12k SF of office space in Four Sugar Grove. The Allison Group's Clay Allison repped the tenant.
Liberty Property Trust retained Transwestern to provide leasing services for Legacy at Fallbrook, a 206k SF office building in Northwest Houston. Transwestern’s Eric Anderson, Tyler Garrett and Parker Burkett are leasing the LEED Gold property.
Ricardo Rivas was named principal of Allied Orion Group. He will continue his work as the firm's CIO of multifamily investment, development and management.
David Rodriguez joined Waterman Steele Real Estate as VP. David began his commercial real estate career in 2013 with Houston’s KW Commercial. His primary focus is on retail land development, multifamily and owner-occupied real estate.
Caldwell Cos named Ray Laughter as VP of business development.