This Week's Houston Deal Sheet: Convention Center Underway In East Montgomery County
East Montgomery County Improvement District acquired 9 acres in The Signorelli Co.’s Valley Ranch in New Caney. The district will use the land to construct a 210K SF convention center in the Entertainment District at Valley Ranch Town Center.
Construction is underway on the convention center, which will be the seventh-largest in Texas, according to a news release. It is designed to accommodate corporate events, trade shows, youth sporting events, consumer expos and other large-scale gatherings.
EMCID’s convention center design includes a 55K SF ballroom/exhibit hall, nearly 20K SF of meeting space, and about 25K SF of prefunction and lobby space as well as outdoor courtyards. An attached 813-space parking garage and future space for a full-service connected hotel are in the plan.
SALES
Marcus & Millichap procured a buyer and secured financing for the sale of Beechnut Village, a 63K SF grocery-anchored shopping center in Houston. The center at 8145 Highway 6 S. is anchored by La Michoacana Meat Market and fully leased by 15 triple-net tenants.
Scott Abeel and Philip Levy marketed the property on behalf of the seller and procured the buyer, a private investor.
Marcus & Millichap Capital Corp.’s Jamie Safier secured 65% loan-to-value ratio financing with a fixed interest rate of 6.5%.
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EY Ventures LLC purchased 515 Post Oak, a 275K SF Class-A office tower in Houston’s Galleria submarket. The property is 74% leased and saw significant leasing velocity in the past year, according to JLL.
JLL represented the seller, New York Life Real Estate Investors, and procured EY Ventures, a Dallas-based real estate investment firm. JLL’s Capital Markets Investment Sales and Advisory team was led by Jeff Hollinden and Kevin McConn.
Originally built in the 1980s, 515 Post Oak has undergone more than $1M in capital improvements. Upgraded amenities include a fitness center, tenant lounge and game room, onsite café and technology-equipped conference areas.
LEASES
St. Louis-based Christy Catalytics relocated its regional office and distribution center to a 30K SF facility in Houston. Paul Dominique and Jon Lindenberger of Colliers facilitated the site selection and lease for Christy Catalytics.
The company delivers catalytic products and services to the energy and industrial sectors. The new building is designed to increase warehousing capacity, streamline logistics and support the company’s growth.
CONSTRUCTION & DEVELOPMENT
Courtyard Houston City Place and Residence Inn Houston City Place are undergoing a multimillion dollar renovation led by Arkansas-based design/build group Julian Builders. The project at the side-by-side hotels will start this month and is expected to be completed in the second quarter.
Both hotels are majority owned by a pair of entities managed by City Place master developer CDC Houston, a subsidiary of Coventry Development Corp. Additional stakeholders include Woodbine Development Corp. and InterMountain Management. The renovations will add furniture, decor and lighting.
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Ascendant Development broke ground on a 170-unit build-to-rent townhome community in Tomball. Amplify Tomball, at 17318 N. Eldridge Parkway, will offer three-story townhomes with one- and two-bedroom floor plans.
Community amenities will include a saltwater pool, a fitness center with a yoga studio, a game room and a dog park. Preleasing is scheduled to begin in mid-2026. Ascendant Development, based in Houston, specializes in multifamily and student housing development.
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Maple Development Group completed the first section of its master-planned village, Aldeana in Bonney, along State Highway 288, south of Houston. The first section includes 108 lots where Brightland Homes, DSLD Homes and Autograph Homes will build. The 400-acre community has lots ranging from 4,800 SF to 6,250 SF to accommodate up to 1,363 homes.
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Trademark Property Co. plans to break ground on a 205K SF retail project in the fourth quarter of this year. The 25-acre Dunham Pointe restaurant and retail district will be at the intersection of U.S. Highway 290 and Mason Road in Cypress.
The development is part of the Dunham Pointe master-planned community, a 1,300-acre project that will feature 2,500 custom-built homes. The retail development has received 48 submitted letters of intent.
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The Galveston Bay Foundation started construction on The Gessner Center, its 14K SF headquarters in Kemah. The building, designed by Houston-based Kirksey Architecture, is located on 30 acres at 1725 Highway 146.
The facility will include a living shoreline, walking trails, boardwalks, an observation deck and a pier to provide access to the bay’s natural habitats. TBG Partners is leading the landscape design and outdoor components of the project. The Gessner Center is expected to be complete by spring 2026.
The project was made possible by a lead gift from Andy and Barbara Gessner, longtime supporters of the foundation.
The center will serve as a hub for education and community. With indoor and outdoor classrooms, a community gathering space and direct access to the water, it will provide opportunities for students and adults to learn about and experience the bay.
THIS & THAT
Houston-based private equity firm Parkside Capital closed on its Parkside Capital Land Fund IV at $55M. Parkside Capital focuses exclusively on land and has deployed $300M in land investments across Houston since its founding in 2007. The fund will be used to acquire land within the Greater Houston area focusing on mixed-use, commercial and residential development opportunities.
