This Week's Houston Deal Sheet
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Austin-based Kline Properties acquired the historic Hogg Palace Lofts, an eight-story mixed-use building at 401 Louisiana St., Downtown Houston. The sales price was not disclosed.
Built in 1921, the landmark building was designated by the Texas Historical Society. The building once housed the office of William C. Hogg, a businessman, philanthropist and son of Texas Gov. James Hogg. It was also home to the upscale automobile retailer Armor Auto Co.
The Randall Davis Co. converted the building into lofts in 1995. The property features 79 units with high ceilings, exposed air conditioning ducts and industrial brick and concrete walls. The units range from 670 SF to 1,811 SF. The building also features 14K SF of retail and office space on the first and eighth floors.
JLL's Chip Nash and Bob Heard and Houston Income Properties' Jim Hurd and Bishale Patel represented the seller, The Randall Davis Co.
Brandon Poynter was promoted to president of Mac Haik Enterprises and Mac Haik Management. He will also serve as executive vice president for all other corporate entities.
Station Houston named Christine Galib as the program director of its Smart Cities Accelerator, which was announced earlier this year. Galib brings her professional background as an entrepreneurship instructor and experience as a business founder and financial analyst to mentor the accelerator’s participants.
Reliant Pest Management purchased an 11K SF industrial building in Tomball. Finial Group's Doc Perrier and Gerald Leveritt represented the buyer. NAI Partners' AJ Williams and Travis Land represented the seller, Nelson Protector Services LLC.
An Austin-based investment group acquired West Oaks Centre, a retail center at 2673-2699 South Highway 6, Houston. Tenants include a Verizon store, a hair and nail salon, a dry cleaners and a massage specialist. Weitzman's Evan Altemus and Brett Levinson handled negotiations.
A private investor purchased Jumbo Self Storage, a 48K SF self-storage facility at 4931 Allen Genoa Road, Pasadena. Marcus & Millichap’s Roger Hendricks represented the buyer and the seller, a limited liability company.
Houston-based Three Pillars Capital Group acquired Pine Lake Village at 1325 Greens Parkway in Houston. Spanning 3.5 acres near Beltway 8 and Interstate 45, the 96-unit community features a swimming pool, a dog park, a playground and covered parking. As the property has outdated units and rents 20% to 25% below market, Three Pillars plans to spend $1M in renovations. Plans have not been finalized. Built in 1984, the community is near Greenspoint Mall and Greens Bayou with a pavilion, gardens and a trellis seat wall.
3000 Alabama Court LLC purchased 35K SF of vacant land at the southwest corner of Edloe Street and West Alabama Street. M Kidd Properties Inc.'s Mark Kidd Sr. and Mark Kidd Jr. represented the seller, St. Luke’s Methodist Church Foundation Inc.
Berkshire Residential Investments purchased Vargos on the Lake, a 276-unit apartment complex at 2411 Fondren Road, Houston. Built in 2015, the community has one-, two- and three-bedroom units. In-unit amenities include stainless steel appliances, a gas range, white quartz countertops, washer/dryer and USB outlets. Berkadia’s Cutt Ableson secured the financing on behalf of the buyer. Berkadia’s Ryan Epstein and Jennifer Ray represented the seller, Hunington Properties Inc.
An undisclosed buyer purchased the final 17.25-acre land tract at West Ten Business Park, a master-planned business park on Interstate 10 and Cane Island Parkway in Katy. Parkside Capital developed West Ten in partnership with Dallas-based Stratford Land. NAI Partners’ John Simons and Holden Rushing represented Parkside.
Boudreaux 11715 Properties LLC purchased 9.61 acres at 11715 Boudreaux Road, Tomball. Lee & Associates' Mike Spears and Cameron Hicks represented the buyer. Dosch Marshall Real Estate's David Marshall represented the seller, 3M Co.
2978 Industrial Properties acquired 6.93 acres on Hufsmith-Kohrville Road, Tomball. Lee & Associates' Mike Spears and Patrick Wolford represented the seller. LRM Realty's Jake Leissner represented the buyer, Church Engineering Services Inc.
TRECAP Butler Road Partners LLC purchased a 16K SF industrial property at 1177 Butler Road, League City. Colliers International's Jason Tangen represented the buyer. Lee & Associates' Mike Spears and Thomas Leger represented the seller, CertifiedSafety Land Holdings LLC.
Formerly Danton’s Gulf Coast Kitchen, Eugene’s Gulf Coast Cuisine has found a new home in Mockingbird Station at 1985 Welch St., Houston. The 4,600 SF space has been transformed to blend an upscale vibe with a comfortable atmosphere.
Advance Energy Partners inked a 9,116 SF office lease at 11490 Westheimer Road, Houston. NAI Partners’ Dan Boyles represented the tenant. Moody Rambin’s Terri Torregrossa and Kurt Kistler represented the landlord, Hertz Westchase Park Plaza LLC.
Blink Fitness leased 16K SF in the Long Point Shopping Center at Long Point Road and Wirt Road, Houston. EDGE Realty Partners' Joshua Jacobs represented the landlord. CBRE's Brian Ashby and Sydney Dixon represented the tenant.
Horizon Supply Co. leased 12K SF at 5890 Cunningham Road, Houston. Moody Rambin's Jim Autenreith and Chris Ochterbeck represented the landlord.
The Cannon announced a strategic partnership with Texas-based law firm Thompson & Knight LLP. The law firm will serve as an on-site legal resource to The Cannon's entrepreneurially focused community. Staffed by attorneys in a variety of practices, Thompson & Knight will have an office in The Cannon, the 120K SF startup coworking space in West Houston.
Fluid Flow Products signed a 26K SF lease at an office warehouse in Sterling Industrial Park at 186 White Road, Houston. Developed by Dominant Development LLC, Sterling Industrial Park is just off Beltway 8 in south Houston in unincorporated Harris County. Colliers International's Jason Tangen, Jon Lindenberger and Paul Dominique represented the landlord, Sterling Industrial Park. R.K. Neblett Interests Inc.'s Rob Neblett and Colliers International's Kent Willis represented the tenant.
Grub Kitchen + Bar is opening a location in Katy. The restaurant offers burgers, sandwiches, shakes, fresh salads and bowls. The new restaurant features a dining room, a patio and a full bar at 19143 Katy Freeway, next to Torchy's and Wingstop. This is the third location for the fast-casual concept based in College Station. Capital Retail Properties' Anderson Smith and Connor Lynch represented the landlord and tenant.
A private investor purchased Offices at Champions, a two-building complex totaling 46K SF in northwest Houston. RE/MAX’s Kevin Reynolds represented the buyer. Newman Kelly's Logan Kelly represented the seller.
Texscape Services acquired a 21K SF industrial building on 5 acres at 5935 Griggs Road, Houston. Nargang Real Estate Group's Lisa Dillon represented the buyer. NAI Partners’ Chris Caudill represented the seller, 5935 Griggs Rd LLC.
Kingwood Place in Kingwood has three new office leases totaling more than 10K SF. Catapult Exploration signed a 5K SF lease, and Ashley Van Meter and Scandic Foods took about 3K SF each. NAI Partners’ Zach Leger, Jacob Aldridge and Lane Travis represented the landlord, C-III Asset Management LLC.
A limited liability company purchased Redline Storage, a 28K SF self-storage property at 3139 Spring Cypress Road, Spring. Marcus & Millichap's Dave Knobler represented the buyer and seller.
Houston-based CDA Architects is constructing Spring Plaza, a 13K SF lifestyle center on the corner of Spring Stuebner Road and Spring Plaza Drive in Spring. Capital Retail Properties is leasing the project. The 2-acre property signed three tenants. Sluco Realty Services' Greg Slusky represented Smoothie King. Quenby Commercial's Eddie Lang represented Wingstop. Xite Realty's Patrick Valentz represented a veterinary practice, A Couple of Vets. Space is still available, including a free-standing 2,800 SF quick-service restaurant with a drive-thru lane.
Drever Capital Management expands its 55=plus active adult brand with Larkspur at Shadow Creek in Pearland. The 257-unit Class-A campus will include a neighborhood with 42 private cottages for more independent residents looking to transition away from homeownership. The community will also feature 18K SF of amenity space and is 13 miles from the Texas Medical Center. The first cottage units are slated for completion in the second half of 2020.
Drewery Place, the new high-rise by Australian developer Caydon, opened at 2850 Fannin St., Houston. The $200M residential tower in Midtown is a part of Phase 1 of a 2.5M SF mixed-use development, Laneways. Designed by Houston-based Ziegler Cooper Architects and built by HOAR Construction, Drewery Place will feature 357 units with an average size of 1,003 SF. Black Swan Yoga and Earthcraft Juicery are located on the ground level of Drewery Place. Houston Art Alliance will showcase pieces throughout the complex.
Crossover Health is opening a new 5,300 SF healthcare facility in Spring. The healthcare provider will serve clients in or just outside the Greater Houston area. The company has raised more than $110M in funding and operates more than 20 health centers nationally.
THIS AND THAT
CBRE announced a $50K donation to SEARCH's House of Tiny Treasures, which provides high-quality early education for children, ages 2 to 5, who are either homeless or living in deep poverty. The firm hosted the first "CBRE 5K RISE Run" at Memorial Park to raise proceeds. SEARCH was founded in 1989 by a group of volunteers who were deeply concerned about Houston's growing homeless population.
The American Institute of Architects Houston recognized 16 projects for design excellence in architecture, residential architecture, interior architecture, restoration/renovation and urban design. Criteria used by the jury included quality of design, resolution of the program idea, sustainable responsibility, innovation, thoughtfulness and technique.
Here are the 2019 winners:
- Conceptual: Ponce Woodfill Architecture, Spec House.
- Divine Detail: Patel, Kweton, Takahashi, Mobius.
- Architecture Greater Than 50K SF: Michael Maltzan Architecture Inc., Moody Center for the Arts.
- Interior Architecture: MC2 Architects, Greater Houston Pediatric Dentistry.
- Interior Architecture: CONTENT Architecture, Paloma Heights.
- Interior Architecture: Kirksey Architecture, Motiva Reception & Conference Center.
- Interior Architecture: MaRS, Mayfield and Ragni Studio, Dancie Perugini Ware PR.
- Architecture Less Than 50K SF: Michael Hsu Office of Architecture, Heights Mercantile.
- On The Boards: Gensler, Del Mar Community College South Campus.
- Residential Architecture: CONTENT Architecture, Greenbriar Residence.
- Residential Architecture: Reid Architects, The Simple Residence.
- Residential Architecture: Brett Zamore Design, Arlington Pool House.
- Residential Architecture: Kinneymorrow Architecture, East 24th Street Houses.
- Residential Architecture: CONTENT Architecture, Kipling Residence.
Renovation/Restoration: EYP Architecture & Engineering, GRB Convention Center Expansion/Renovation + Avenida Houston.
Renovation/Restoration: Lake | Flato Architects, Vibrant.
Renovation/Restoration: MaRS, Mayfield and Ragni Studio, Gulf Coast Pavers.