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This Week's Houston Deal Sheet

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Moviehouse and Eatery broke ground on its first location in Houston.  

The 11-screen theater will anchor Creekside Park West within the Creekside Park Village Center, developed by The Howard Hughes Corp. The facility will be at 26543 Kuykendahl Road in The Woodlands. 

Moviehouse & Eatery Executive Vice President Chance Robertson and The Howard Hughes Corp. Vice President Jim Carman, Vice President Rip Reynolds and Senior Project Manager Eric Rabel at the groundbreaking for the Moviehouse & Eatery in The Woodlands.

"We are honored that Moviehouse & Eatery has selected The Woodlands for their first location in Houston," The Howard Hughes Corp. Vice President Rip Reynolds said in a release. "Moviehouse & Eatery is a complementary fit, serving as an anchor for the retailers and restaurants planned for Creekside Park West, and will provide a unique, dine-in moviegoing experience for our residents and guests.”

Moviehouse & Eatery is a full service, dine-in cinema based in Texas with five locations in Austin, Dallas and Fort Worth. The first location opened in Austin in 2012. 

The Shop Cos.' Chris Reyes and Tyler Trevino represented the tenant. Reynolds represented the landlord in-house.   

EXECS

Dare Lovett joined Trammell Crow as vice president of development management. He will be responsible for managing the design, construction, budgeting, scheduling and overall execution of developments in the Houston area. He will also play a role in the pursuit and execution of a variety of new projects. He brings more than 24 years of experience on commercial and mixed-use projects. 

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Gensler named six new principals in its Texas offices, including three in Houston: Hunter Clayton, Jerry Alexander and Tim Vuong.

SALES

An undisclosed buyer purchased 6.36 acres at 5117 Brunswick St. in Houston. Retail Solutions' Rick Gutierrez represented the seller. PCR Brokerage's Chris Caudill represented the buyer.

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CCIRF LLC purchased a 14K SF industrial property at 6635 Theall Road in Houston. Lee & Associates' Robert McGee and Chase Cribbs represented the seller, Axis Texas Development Group LLC. Lee & Associates' Clint Hankla represented the buyer.

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Industrial Reserve LLC acquired 1.8 acres on Cherry Road in Tomball. Lee & Associates' Robert McGee and Cameron Hicks represented the seller, Hightower Investments Ltd. Landry Commercial Real Estate Services' Brant Landry represented the buyer. 

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This Week's Houston Deal Sheet
1700 Research Drive in The Woodlands

Killen's Steakhouse purchased an 8,500 SF free-standing restaurant on 2.35 acres at 1700 Research Forest Drive in Shenandoah. NewQuest Properties' J.J. McDermott and Jon Jamison represented the buyer. JLL's Mark Raines and Matt Parsons represented the seller, TSS Realty LLC.

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Ress Investments acquired an 18K SF industrial facility on 5 acres at 1300 East Richey Road. Black Label Commercial Group's Beau Harris represented the buyer and the seller, VRB Corp. 

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Stratton Development & Construction acquired a 14-acre parcel off FM 1960 between Interstate 45 and Hardy Toll Road. CBRE's Ned Torian represented the seller, Verizon Wireless. Black Label Commercial Group’s Beau Harris represented the buyer. 

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An undisclosed buyer purchased a 25K SF warehouse at 6407 Eppes St. in southeast Houston. NAI Partners’ Chris Caudill and Darren O’Conor represented the seller.  

This Week's Houston Deal Sheet
6818 Bourgeois Road in Houston

LEASES

Acuren Inspection Inc. renewed and expanded its 11K SF industrial warehouse space at Four Seasons Business Park at 6818 Bourgeois Road in Houston. Finial Group's Jack Gaffney represented the tenant.  

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Gupta Management Co. signed a 15K SF industrial lease at 1535 Industrial Drive in Missouri City. The property is in a four-building industrial park that is under construction. This was the first building taken. NAI Partners’ Jake Wilkinson and Darren O'Conor represented the landlord. 

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Roofers Supply signed a 41K SF industrial lease at 2750 Fort Royal Drive in north Houston. Belvoir Real Estate Group's Kyle Fischer and Sean Harman represented the landlord, Commercial Plaza LTD. 

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Expro Group, an international oil and gas service company, signed a 27K SF office lease at 1311 Broadfield Blvd. The firm is moving its headquarters to Park 10 Centre. JLL's Eugene Terry and Ronnie Deyo represented the tenant. JLL's Chrissy Wilson and John Pruitt represented the landlord, Lexington Property Trust. 

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Boccard Life Sciences signed a 15K SF office lease at 12559 West Airport Blvd. in Sugar Land. Lee & Associates' Chris Lewis and Jill Nesloney represented the landlord, Griffin Partners Commerce Center LLC. TruCore Commercial's Donald Fincher represented the tenant, Boccard Life Sciences.

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Kilpatrick Townsend & Stockton LLP signed an 18K SF office lease at 700 Louisiana St. in Houston. CBRE's Doug Elliott, Ron McWherter and Paul Penland represented the tenant. 

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STA Wealth Management LLC inked a 10K SF office lease at 800 Town & Country Blvd. in Houston. CBRE's Kevin Saxe, Ryan Roth and Graham Horton represented the tenant. Colvill Office Properties represented the landlord, SCG Citycentre One LLC. 

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Formwork Services & Supply L.P. signed a 218K SF industrial lease at 2200 Lauder Road in Houston. CBRE's Glynn Mireles represented the tenant. CBRE's  Carlton Anderson represented the landlord, Allied Stone Inc. 

This Week's Houston Deal Sheet
Vanderbilt Court at 12630 Ashford Point Drive in southwest Houston

FINANCING

Indus Management Group purchased Vanderbilt Court, a 164-unit garden-style multifamily community in southwest Houston. The property is on 5 acres at 12630 Ashford Point Drive near South Dairy Ashford Road and Westpark Tollway. Constructed in 1983, the value-add property features a mix of efficiency units and one- and two-bedroom townhome units averaging 835 SF. HFF's represented the seller, 37th Parallel, and secured the buyer. 

DEVELOPMENT

Houston Endowment purchased a 1.5-acre site for a new office facility at 3615–3683 Willia St. in Houston. The site is near the intersection of Memorial and Waugh and overlooks Spotts Park. The organization plans to develop a 35K to 40K SF, single-tenant office building for itself. Forney Construction will serve as the project manager, and Jackson Walker will provide legal counsel. Gensler assisted in site selection. Cushman & Wakefield represented Houston Endowment. 

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Aroma's Italian Grill is opening a location this year at League City Plaza near the intersection of Interstate 45 and FM 518 in League City. Weingarten Realty's Carrie Murray represented the landlord.  

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77 Degrees will open in early March at 2416 Brazos St. in Houston. The rooftop bar is the second Houston concept for Union Venture Group. 77 Degrees will have four levels of cabana-style seating and views of the Downtown skyline. 

THIS AND THAT

Wet & Wild Splashtown will be rebranded as Six Flags Hurricane Harbor Splashtown when the park opens for the 2019 season. Houston's largest waterpark will introduce a new six-story water slide, Wahoo Wave, along with a new Caribbean theme and other park improvements. The 48-acre park features over 40 slides and attractions. 

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The Urban Land Institute Houston announced the 2019 Development of Distinction Winners for most compelling and innovative real estate projects in Houston: 

  • For-Profit Category, large: The Star by owner Rusk at San Jacinto Partners L.P, developer Provident Realty Advisors and general contractor PRA Construction. It was completed in May.
  • For-Profit Category, small: Heights Mercantile by developer Radom Capital, architect Michael Hsu Office of Architecture, landscape architect SWA Group and general contractor Forney Construction. It was completed in November 2017.
  • Non-Profit Category: Houston Advanced Research Center by developer HARC, architect Gensler, landscape architect Clark Condon and general contractor Brookstone. It was completed in February 2017.
  • Open Space Category: Emancipation Park by owner and developer city of Houston, architect Perkins+Will, landscape architect M2L Associates Inc. and general contractor Prime Contractors Inc. It was completed in January 2015.
  • People's Choice: Exploration Green.
Related Topics: Houston Deal Sheet