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This Week's Houston Deal Sheet

Jim Buckley was named vice president and mechanical department head for WSP USA’s Houston office.

This Week's Houston Deal Sheet
WSP mechanical department head Jim Buckley

Buckley will lead engineering teams in Houston on a wide range of projects, including work at MD Anderson Cancer Center, The University of Texas Medical Branch, Texas A&M University, Dow World Headquarters and Ascension Medical Projects. His past project experience includes Galveston National Laboratory at the University of Texas Medical Branch, a Veterinary Research Building Addition at Texas A&M University, the new Terminal C North at George Bush Intercontinental Airport and the International Terminal and FIS Expansion at William P. Hobby Airport.

He was previously the mechanical discipline lead for Jacobs in Houston and had led mechanical design on science and technology projects for CCRD Partners, which was acquired by WSP in 2014.

EXECS

This Week's Houston Deal Sheet
Jim Cooksey, formerly of Jackson Cooksey, and NKF Texas Regional President Neal Golden

Newmark Knight Frank has agreed to acquire corporate tenant representation real estate agency Jackson Cooksey. Jim Cooksey, who will join NKF’s Texas office as vice chairman and president of tenant representation in Texas, founded the Dallas-based Jackson Cooksey Co. in 1982.

“The acquisition of Jackson Cooksey is an important step in NKF’s mandate to expand coverage in key markets and bolster service offerings to provide an unparalleled platform to clients regionally and worldwide,” Newmark Group CEO Barry Gosin said in a release. “Specifically, the Jackson Cooksey acquisition expands NKF’s corporate tenant advisory services for office and industrial users throughout Texas.”

Jackson Cooksey has locations in Dallas, Houston, Austin and Denver with approximately 70 professionals in all locations.

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Hunter Clayton rejoined Gensler as co-managing director of the Houston office. Clayton, who had worked in Gensler’s Santa Monica and Las Vegas offices but was most recently with MGM Resorts International, will co-lead the office with Stephanie Burritt. He has worked in the Middle East, Eastern Europe, Asia and the U.S. and brings large-scale project experience and a global perspective to the new position. Besides a return to Gensler, this is a return to Houston for Clayton — he got his undergraduate degree in architecture from U of H.

Jerry Gehm, who was the co-managing director, is shifting to be the regional client relationship leader for the South Central region.

SALES

This Week's Houston Deal Sheet
Safe-Keeping Self Storage in Baytown

New York-based Merit Hill Capital purchased Safe-Keeping Self Storage, a 782-unit self-storage facility in Baytown. JLL’s Steve Mellon and Brian Somoza negotiated the deal. Houston-based Weiss Realty Group was the seller. The property is 76K SF at 120 South Alexander Drive and is a value-add opportunity. It was 93% leased at time of sale.

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An undisclosed buyer purchased a 92K SF industrial building at 34218 Sunset Lane in Brookshire. Lee & Associates’ Preston Yaggi, Patrick Wolford and Reed Parker represented the seller, QC Land Development.

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Nazar Invest Inc. purchased 10 acres on Fondren Road in Houston. Lee & Associates’ Cameron Hicks and Preston Yaggi represented the buyer, and Lone Star Realty’s Harlene Johnson represented the seller, New Light Church World Outreach & Worship Center Inc.

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DN Commercial’s Danny Nguyen represented undisclosed sellers in two land deals.

  • An undisclosed buyer purchased 1.5 acres of commercial land on FM 1092 in Missouri City. The tract was listed for $689K.

  • An undisclosed buyer purchased 6 acres on Cullen Boulevard in Houston. The site was listed for $865K.

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An undisclosed buyer purchased a 61K SF retail center in Missouri City. DN Commercial’s Danny Nguyen represented the buyer, and Agate Properties’ Eugene Wang represented the seller. The retail center’s asking price was over $6M; it is anchored by Dollar General, City Trends and Shipley's Donuts.

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EDGE Capital Markets’ Josh Jacobs and Bill Pyle brokered the sale of Long Point Shopping Center, a 76K SF property at 7800 Long Point Road in Houston. EDGE represented the seller, Wirt Longpoint.

 

LEASES

This Week's Houston Deal Sheet
Wells Fargo Plaza at 1000 Louisiana St. in Houston

Sidley Austin expanded its office in Wells Fargo Plaza, 1000 Louisiana St. The global law firm has doubled its number of employees in Houston over the last several years, so the new lease is 30K SF bigger than its former one, bringing it to 80K SF in the Downtown property on a long-term lease renewal. The expansion includes the 59th floor sky lobby. CBRE’s Kevin Kushner, Todd Lippman and James Whalen represented the tenant, and CBRE’s Bonnie Kelley-Dienna and Dave Hanusa represented the landlord.

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OMAC USA leased 20K SF of industrial space at 5670 Guhn Road in Houston. NAI Partners’ Darren O’Conor represented the tenant. Cushman & Wakefield’s Nathan Wynne represented the landlord, TPRF/TREP Acquisition 4 LLC.

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Quick Quack Car Wash ground-leased a 55K SF pad site (1.3 acres) in Grand Morton Town Center in Katy. NewQuest Properties’ Josh Friedlander and Rebecca Le represented the landlord in-house, and Streetwise Retail Advisors’ Jack Burgher represented the tenant.

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Aerotek leased two office spaces in Houston. Lee & Associates’ Ryan Young represented the tenant in both deals.

  • 11K SF at Remington Square III, 10713 West Sam Houston Parkway North. Stream Realty’s Brad Fricks and Ryan Bishop represented the landlord, Sun Life Assurance Company of Canada.

  • 11K SF at Energy Center II, 575 North Dairy Ashford Road. CBRE’s Steve Rocher represented the landlord,  I-10 EC Corridor #2 L.P.

DEVELOPMENT

Condo high-rise The River Oaks is open. Arel Capital redeveloped the property, which has 79 condos across 18 floors on 3 acres at 3433 Westheimer. It was built from the bones of an early 1960s apartment building designed by Cameron Fairchild, reducing the number of units and expanding the floor plans. Amenities include a fitness center, massage and yoga rooms, two pools, sitting gardens, an outdoor kitchen, a dog park, a dog grooming spa, two overnight guest suites, 24-hour concierge and valet parking, a private indoor dining room with catering kitchen and a party room. Nearly 80% of the units are sold. Prices begin at $1.8M for the remaining 17 residences, and the two penthouses are still available for $7.5M apiece.

EDI International was the architect and Rottet Studio was the interior architect for the redesign, and Weingarten Art Group curated an art collection in the property. McDugald-Steele was landscape architect, and Sudhoff Cos. is handling sales and marketing.

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Vigavi broke ground on two more buildings in West Ten Industrial Park. Both are spec, available for lease or sale, with 20-ton crane capabilities. Building 2 is 17K SF on 1.5 acres, and Building 3 is 21K SF on 1.5 acres.

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Ryan Cos. and Grand Living are building two senior living communities in Texas: Grand Living at Riverstone (4814 LJ Parkway in Sugar Land) and Grand Living at Georgetown (1330 West University Ave. in Georgetown). Each will have 180 units of independent living, assisted living and memory care plus amenities, including 24-hour, on-site staffing, multiple dining venues, a performance theater, the Grand Spa and Salon, an outdoor pool, a clubroom and a library. Both will break ground in early 2019. The partnership already has six communities under construction in Florida and Iowa.

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Liberty broke ground on a 728K SF distribution center in North Houston for Grocers Supply, a division of C&S Wholesale Grocers, which signed a long-term lease to consolidate several buildings into this facility. Grocers Supply also purchased 34 acres of adjacent land. The building will deliver in mid-2019.

Liberty’s 3.7M SF Houston portfolio is 95% leased. It is underway on two projects in Port Crossing to add capacity: 600K SF at 1302 Wharton Weems and 104K SF at 1814 Highway 146 South. Both will deliver this summer.

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Galdisa USA is opening a 47K SF facility in Conroe Park North this week. The Conroe facility, the Mexico-based nut company’s first in the United States, will serve U.S. and Canadian customers.