This Week's Houston Deal Sheet
The Shoppes at Cinco Ranch has five new tenants and a new 12K SF development on the way.
Thor Equities’ Katy property welcomed About Face & Body Medical Spa (1,800 SF), Starbucks (2K SF), Medical Clinic at the Ranch (1,850 SF), Chase (4,500 SF) and Ramen King. The new 12K SF building will deliver in November.
Kim Bernick joined EDGE Realty Partners as a senior associate specializing in retail tenant representation. She was previously with Transwestern.
Rising Sail Westlake purchased a 71K SF shopping center on 6.4 acres at 2340 Fry Road in Houston. The property is 95% leased, including anchor 24 Hour Fitness. CBRE’s Matthew Berry represented the buyer, and NewQuest’s Brad Elmore represented the seller, A-S 80 Westlake - Retail Shops L.P.
Williamsburg Acquisitions purchased a 67K SF retail property on 6.9 acres at 12220 Barker Cypress Road in Cypress. CBRE’s Matthew Berry represented the seller, Randall’s Food & Drugs.
St. Luke’s Methodist Church Foundation purchased 2621 Joanel St., a 5,636 SF boutique office building and 32K SF of land. John Daugherty Realtors’ Andrew McCain represented the seller, and M Kidd Properties’ Mark Kidd Sr. represented the buyer.
Broadway LLC purchased 2410 and 2414 Tangley, retail buildings and 12K SF of land in the Rice Village area. Gary Greene Better Homes & Gardens’ Brad Fleming represented the buyer. M Kidd Properties’ Mark Kidd Sr. represented the seller.
Wing Stop leased 1,500 SF at The Crossing at Telfair, a mixed-use project under construction in Sugar Land by Rubicon. Rubicon’s Inna Gallagher represented the landlord, and Ico Commercial’s Tawnya Dornak represented the tenant.
Belvoir Real Estate Group’s Kyle Fischer represented the landlord in a 15K SF lease at 2511 West Mount Houston Road. The property is a 90K SF warehouse just off Highway 249.
Jerri Vo, DDS, leased 1,800 SF at The Shops at Pebble Creek, a retail property under construction at 7022 Highway 6 in Missouri City. Rubicon’s Edward Le represented the landlord, and Xite Realty’s Tommi Patterson represented the tenant.
Vitas Healthcare Corporation of Texas renewed 9,893 SF from Killam Development at 3131 Eastside St. CBRE’s Ron McWherter represented the tenant.
Cmg Mortgage dba Cmg Financial leased 6,790 SF at 480 Wildwood Forest Drive in Spring. CBRE’s Steve Rocher represented the landlord, Geosouthern Wildwood.
Siemens Corp. renewed 10K SF at 11000 Richmond Ave. in Houston. NAI Partners’ John Simons represented the tenant, and CBRE’s Steve Rocher, Kristen Rabel and Parker Duffie represented the landlord, Woodbranch 11000 LLC.
Sentry Equipment Corp. leased 12K SF at 5285 Schurmier Road in Houston. NAI Partners’ Travis Land and Darren O’Conor represented the landlord, Cepak Holdings. Exceed Realty’s Michael Bahn represented the tenant.
Colvill Office Properties was selected to lease the 37K SF office portion of Buffalo Heights District’s first phase. Buffalo Heights is a seven-story mixed-use development by BKR Memorial II and Midway at the intersection of Washington Avenue and South Heights Boulevard. It will include 232 apartment units and a 96K SF H-E-B. The office segment is called ONE Buffalo Heights and will deliver in 2019. Colvill’s Michael Anderson and Connor Saxe will lead leasing.
Giorgetti Houston has broken ground at 2701 Steel St. in Upper Kirby with 50% of its units presold. The seven-story condo project by Mirador Group, Sudhoff and Stolz Partners will have 32 flats ranging from 2,700 SF to 6,800 SF. The property is fully branded for Giorgetti, a 120-year-old Italian furniture company, from using its woodworking in the property to its Origami cabinet being the inspiration for the external facade of the building. Giorgetti in February launched its first non-corporate-owned mono-brand retail concept in the United States at CASA in West Avenue. The 10K SF store was handled by Jerry Hooker and Jacob Sudhoff and features interior design products.
LMI Capital’s Jamie Mullin, Brandon Brown and Jamie Safier closed three transactions exceeding $24M in the Houston area. The team placed acquisition financing for two multifamily complexes — a $15M loan assumption for a 215-unit, Class-A complex in Northwest Houston and an acquisition loan for a 200-unit asset in Pasadena that includes funds for renovation — and a five-year loan for a 21K SF retail center in West Houston.
THIS AND THAT
Skanska worked with Rebuilding Together to rebuild a home for a senior citizen in Kashmere Gardens whose home was devastated by Hurricane Harvey. Over the course of three days, local Skanska volunteers installed a new ramp, handrails and storm door; replaced rotten or missing siding; painted new siding and trim; and cleaned up landscaping.