This Week's Houston Deal Sheet
In an effort to deepen its relationship with professional customers and craftsmen, particularly in the multifamily industry, Lowe's is acquiring Houston-based Maintenance Supply Headquarters and its 13 distribution centers for $512M.
Founded in 2006, Maintenance Supply Headquarters now serves customers in 29 areas throughout the western and southern United States. Lowe’s has been making serious moves to up its professional game. Last year Lowe’s acquired Central Wholesalers, similar to Maintenance Supply Headquarters. The two will join Alacrity Services in Lowe’s Pro Services Business.
SALES
Industrial Outdoor Ventures has picked up an 80K SF equipment storage and shipping property at 13500 John F. Kennedy Blvd. in Houston. The seller, Clay Partners-MEI JFK BLVD, was asking $11.2M.
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Marcus & Millichap’s Dave Knobler and Logan Miller completed the sale of Storz A Lot, a 208-unit self-storage facility in New Caney. No information about the seller or buyer was provided.
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On behalf of Big Diamond, Davis Commercial's Mark Davis arranged the sale of a 54K SF site at the southeast corner of Highway 96 and FM 270 in League City. Sluco Realty Services' Greg Slusky repped the buyer, Victoria Libertatis, which will develop the site into an Express Oil & Tire Engineers.
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Marcus & Millichap’s Gus Lagos and Alex Bouchard completed the sale of Star Plaza, a 19K SF retail property in Katy with a list price of $2.9M.
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NAI Partners’ Clay Pritchett repped DMP Acquisition Fund in purchasing 4155 Main St. in Pearland, a 30.5K SF crane-served machine shop on 8.4 acres. Colliers’ Walter Menuet repped the seller, Cornerstone Bank.
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TGS Cedar Port Partners sold 40 acres to Houston-based Avera Cos., which will develop a 500K SF rail-served distribution facility for Vinmar International. NAI’s John Ferruzzo, John Simons and Joel Michael repped the seller. No information about the buyer rep was provided.
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Newcor Commercial Real Estate’s David Alexander negotiated the sale and purchase of 16.3 acres in the 4000 block of West Davis and Highway 105 in Conroe.
LEASES
Patterson-UTI Energy is expanding its headquarters by 12K SF to 52K at 10713 West Sam Houston Parkway North in Houston. NAI’s Dan Boyles and Liz Westcott-Brown repped the tenant, and Stream’s Brad Frick’s repped the landlord, Sun Life Assurance Co.
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Chase Bank leased a 54K SF retail pad site lease at the intersection of U.S. 290 and Mason Road. NewQuest Properties' Bob Conwell and Rachel Keener repped the landlord. TRC’s David Stukalin and Zac Hoffer repped the tenant.
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NAI Partners' John Ferruzzo and Chris Kugle repped the landlord, Bart Industries, in renewing a 30K SF lease with WLSC Incorpo at 1605 Genoa Red Bluff in Pasadena. Leigh Anne Ahr of Proximity Real Estate repped the tenant.
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NAI’s Darren O’Conor and Jake Wilkinson repped Epic International in leasing 11K SF of manufacturing space at 21227 Hufsmith Kohrville Road in Houston. Lee & Associates' Pat Wolford and Mike Spears repped the landlord, Darren Alexander Realty Enterprise.
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Skyline Displays of Houston signed a new 25K SF industrial lease at 2524 Fairway Park Drive in Houston. JLL’s Geoff Perrott and Jeff Venghaus repped the tenant. David Munson of Boyd Commercial repped the landlord, FR Massachusetts 7.
HIRES/PROMOTIONS
Matt Daniel rejoined Skanska as senior vice president of business development in Houston. Daniel previously worked for Skanska from 2004-2012.
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NAI Partners promoted four professionals in its landlord services division: Sandy Crego, Ann Crocker and Erin Crowe were named senior property managers, while Samantha Doty was promoted to assistant property manager.
