This Week's Houston Deal Sheet
A prime piece of real estate changed hands this week. Renaissance Center, a 97k SF retail center anchored by an H-E-B, situated between Downtown and the TMC, was disposed of by HFF.
HFF’s Ryan West and Rusty Tamlyn led the team that closed the sale. The retail center is inside of Loop 610, less than two miles from the Texas Medical Center and Downtown Houston. The dense infill location has more than 135,000 residents living within a three-mile radius.
“The center is in a very urban, infill location with tremendous value-add opportunity, which the buyer is immediately implementing,” West said. “This opportunity reflects the re-gentrification occurring in several different pockets inside the Interstate 610 Loop.”
On behalf of Dalfen, Colliers’ Jim Pratt and Trey Erwin, along with CBRE’s Heather McClain, sold the Gillingham Distribution Center in Sugar Land to Gillingham DC. The properties are in the Sugar Land Business Park and include five acres to accommodate a stand-alone building of 80k SF.
Marcus & Millichap's Evan Altemus and Gus Lagos completed the sale of Spencer Highway Shopping Center, a 19k SF retail property in La Porte.
Seven Seas Maritime Services extended a 22k SF industrial lease at 8207 North Loop East in Houston. JLL’s Ryan Fuselier and Travis Secor repped the tenant and KRM Development's Jesse Parks repped the landlord.
NAI Partners’ Jake Wilkinson repped Subsea Hydraulic Leads in leasing 9k SF of manufacturing space at 5725 Cunningham Road in Houston.
Black Label Commercial Group’s Beau Harris repped Stratton Development & Construction in leasing a 7,700 SF office/warehouse building at 1620 FM 1960.
NAI Partners Jason Gaines repped Urban Air of Pearland in leasing 59k SF of industrial/flex space at 3207 Sam Houston Pkwy. This will be the fifth Urban Air Trampoline Park location in the Houston area.
Savills Studley’s Mark Russell secured a 68k SF lease extension and expansion for Indigo Resources and M5 Midstream at the JPMorgan Chase Tower.
Rebellion Photonics recently expanded by 3,800 SF at 2327 Commerce to 16k SF. Realty Partners' Julie King repped the tenant. Andrew Kaldis represented the landlord, 2315 Commerce Ltd.
Thor Equities leased a total of 7,100 SF at The Shoppes at Cinco Ranch in Houston to three new retail tenants.
- Salata signed a 3k SF lease.
- Super Yummy signed a 2,600 SF lease.
- Bamu, a Vietnamese coffee/tea shop, signed a 1,500 SF lease.
Borusan Mannesmann Pipe U.S. leased 7k SF at the 363 North Sam Houston Pkwy. building in Houston. Moody Rambin’s Terri Torregrossa and Kurt Kistler repped the building owner, 363 Northbelt.
THIS AND THAT
Dornin Investment Group has retained The Beck Group as its exclusive leasing agent for its five-property, 560k SF portfolio in Houston. DIG has also engaged ManagerFirm, an affiliate of The Beck Group, for property management services of the portfolio.
John Tillis joined Wile Interests as a development associate. Tillis brings over five years of acquisition and asset management experience.