This Week's Houston Deal Sheet: Drone Manufacturer Expanding In Richmond

Agricultural machinery company Hylio plans to open a new 40K SF manufacturing facility in Richmond. The building will be on the same campus as Hylio’s current drone manufacturing facility and headquarters. 

The new facility will multiply Hylio’s production of autonomous crop treatment drones by five. Its maximum production capacity, projected for the end of 2027, will be more than 5,000 drone units per year.

“As more farms transition to precision agriculture practices to increase efficiency, manage climate threats and environmental impact, technology like drones becomes an integral part of daily operations,” Hylio CEO Arthur Erickson said in a news release.

“The demand for U.S. made drones is increasing exponentially in light of the potential bans on Chinese and other foreign-made drones.”

PEOPLE

Transwestern Development Co. hired Carl DeLuca as managing partner of its national logistics group. DeLuca will guide the direction of TDC’s industrial development platform, overseeing the pipeline and managing regional teams across U.S. logistics markets.

DeLuca has more than 20 years of experience, most recently leading real estate development and investment for the Americas at DHL. He also spent 16 years at Duke Realty in senior roles across capital markets, acquisitions, dispositions and development strategy. 

DeLuca will be based in Houston and transition into the role held by John Thomas, who plans to retire. Thomas has led TDC’s National Logistics Group since 2018.

SALES

A local private investor purchased a 43K SF shopping center in Southwest Houston. The off-market transaction was brokered by Logan Kelly of Newman Kelly Real Estate.

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Luisa Smithers and Nate Cunningham sold a 36K SF building at 8323 Braniff St. Jack Rathe with Stream Realty Partners represented the seller. Daniel McKinney with McKinney Real Estate Inc. represented the buyer.

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CenterSquare Investment Management acquired Shops at Aliana Trace, a 40K SF new construction retail property along the Grand Parkway in Richmond. The property is 100% leased to tenants, including Big Blue Swim School, Salons by JC and Wayback Burgers. 

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Cresa brokered the sale of a 124K SF office property in the Greenspoint area. Leva Patidar Samaj of Houston acquired the building, which is on 10 acres at 785 Greens Parkway.

Cresa’s Brandon Wuntch and Drew Altmann represented the buyer and the seller, GK Investments Group LLC.

LEASES

Stream Realty Partners announced the following leases:

• Valor Communication Inc. leased 80K SF at 10811 S. Westview Circle Drive. Stream's Garret Geaccone and Boone Smith represented the landlord, DRA Advisors. John Nguyen with Keller Williams Realty represented the tenant.
• JC Zora LLC leased 27K SF at 1537 Greengrass Drive. Stream's Jeremy Lumbreras and Smith represented the landlord, Stonelake Capital Partners. David Holland with JLL represented the tenant.
• Mars Shipping Service leased 32K SF at 21323 Clay Road. Geaccone, Smith and Abraham Richardson with Stream represented the landlord, Harbor Capital Advisors Inc.
• Pointsmith Point-of-Purchase Management Services leased 95K SF at 114 Empire Blvd. in Brookshire. Lumbreras, Heath Donica, Justin Robinson and Matteson Hamilton of Stream represented the landlord, SRPF B/Empire West Phase II LP. Richardson and Grant Wisenbaker with Stream represented the tenant. 

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Law firm Olivia Gibbs LLP subleased 21K SF to occupy a full floor at 11750 Katy Freeway in West Houston's Energy Corridor. The firm is relocating from downtown to position itself closer to oil and gas clients and its employee base.

Oxford Partners' Ryan Hartsell represented the firm in the transaction, which combined a multiparty sublease and direct lease extension into a single structure. The negotiated terms included existing furniture and a lease document with more than 90% of tenant-preferred provisions accepted.

The 17-story Class-A building was completed in 2015. Oliva Gibbs plans to move in August.

CONSTRUCTION & DEVELOPMENT

Walmart opened a 170K SF Supercenter at Miramesa Town Center in Cypress. Read King Commercial Real Estate facilitated the development of the store, which is a new Walmart prototype with digital shelf labels that include QR codes. The property also includes an on-site fulfillment center for mobile, online and pickup orders.

The project represents the first ground-up Walmart Supercenter to be built in four years. Miramesa Town Center’s retail buildings are 100% leased, with a third retail building in the planning phase and three remaining pad sites at the intersection of Fry Road and West Road.

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McGrath Real Estate Partners completed and officially opened Artistry Design District, a four-story, 400-unit multifamily development inside Loop 610 in Houston’s Design District. The Artistry is 57% leased with 42% occupancy.

The complex offers seven-floor plans, including studios, one-bedrooms and two-bedrooms. Artistry Design District is at 3939 W. 12th St. 

THIS & THAT

Arianna Leopard launched Leopard Advisers, a Houston-based boutique real estate strategy and placemaking consultancy. The firm offers workshops, market research, consumer profiling, analytical programming, financial modeling and execution support. 

Leopard has 15 years of experience, including senior posts at WATG, HKS, Page/EYP and Cresa's corporate services group.