This Week's Houston Deal Sheet
Co-working is coming to the Houston suburbs. Serendipity Labs will occupy 16K SF in Sugar Land's old Imperial Sugar refinery, which is being turned into a $200M historic mixed-use project.
The deal is part of an exclusive franchising agreement with Cameron Management that entails opening 10 locations throughout Houston. The Serendipity lease was handled by Imperial Market's Geoff Jones and Jim Murnane for the landlord and Cameron Management's Ted Dom for the tenant.
Imperial Market was set to break ground last summer but has been pushed back to the end of this year. Gensler will design Serendipity Labs' space.
LEASES
Lee & Associates' Rob Johnson repped Enetech Civil Engineers in a 15K SF lease at 15021 Katy Freeway in Houston. Lincoln Property's Kevin Wyatt repped the landlord, Invesco.
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Biotechnology Solutions signed a new 15K SF industrial lease in the Sugar Land Business Park at 12625 West Airport Blvd. in Sugar Land. Lee & Associates’ Chris Lewis and Jill Nesloney repped the landlord, Griffin Partners.
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Porter Hedges renewed its 105K SF office lease. CBRE’s Charles Gordon, Brandon Clarke, Paul Penland and Ryan Roth repped the tenant. The landlord, 1000 Main, was repped by Wade Bowlin with PM Realty Group.
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Stream’s Anthony Squillante and Josh Morrow repped Pape-Dawson Consulting Engineers, which is leasing 16K SF at Westchase II, 10350 Richmond in Houston. Stream’s Brad Fricks and Ryan Bishop repped the landlord, FSP Westchase.
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Nine Energy Service signed a new 12K SF office lease at the River Oaks Bank Building, 2001 Kirby Drive in Houston. JLL’s Diana Bridger repped the tenant while Lee & Associates' Chris Lewis and Jill Nesloney repped the landlord.
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BB&T signed a 10K SF office lease at 520 Post Oak Blvd. in Houston. Transwestern's Lonna Dorman and Justin Leighton repped BB&T while Lee & Associates’ Chris Lewis and Jill Nesloney repped the landlord, Griffin Partners.
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Lee & Associates' Preston Yagii repped Luceoa, a LED light distribution and manufacturing company, in a 55K SF industrial warehouse sublease at 3010 Claymoore Park Drive in Houston. JLL’s Adam Wollinetz, David Buescher and Geoff Perrot repped the sublessor, Kellog Sales Co.
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GW Services, a division of Primo Water Corp., signed a new 20K SF industrial lease at Kempwood Business Center, 8395 Kempwood Drive in Houston. JLL’s David Buescher and Geoff Perrott repped the tenant. Boyd Commercial’s Greg Barra and David Boyd repped the landlord.
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Pet Supermarket leased 8K SF of retail space in Brazos Town Center, at the intersection of Interstate 69 and FM 762 in Rosenberg. NewQuest's Bob Conwell and Meredith McLeod Cobb repped the landlord. Debbie Adams of Edge Realty Partners repped the tenant.
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The Reyna Group leased 6K SF at at the Washington Centre building at 4601 Washington Ave. in Houston. Moody Rambin’s Spencer Starkey and Kevin Nolan repped the building owner, Washington 4600 Ltd.
SALES
Marcus & Millichap’s Derek Hargrove, Justin Miller and Davis Hansen completed the sale of Shotwell Shopping Center, a 32K SF center in Houston at 5900 Lyons Ave. The buyer, an out-of-state LLC, was secured and repped by Marcus & Millichap’s Nik Kapetanakis and Gus Lagos.
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Marcus & Millichap’s Gus Lagos and Nik Kapetanakis completed the sale of Ella/Louetta Shopping Center, a 10K SF retail property in Spring at 3930 Louetta Road. The buyer, an LLC, was secured and repped by Marcus & Millichap’s Evan Altemus.
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Colliers’ Jason Tangen repped Thim Phillips of TRECAP Southcreak Partners in the off-market acquisition of a 26K SF net-leased industrial property at 1612 Southcreek Lane in Houston. The property is leased to Helical Pier Systems. The seller is a private fund based out of Austin.
FINANCING
NorthMarq Capital’s Warren Hitchcock negotiated refinancing of The Block at Montrose, a 62-unit multifamily property in Houston. The transaction, with a fixed rate of 4%, was structured on a five-year loan term and a 25-year amortization schedule.
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NorthMarq Capital’s Warren Hitchcock also negotiated the acquisition financing of Parkside Place, a 321-unit multifamily property in Pasadena, Texas. NorthMarq arranged financing for the borrower through its relationship with a balance sheet bridge lender.
HIRING/PROMOTIONS
Mark Redlingshafer joined CBRE’s Industrial Services and Logistics Practice Group.
