This Week's Houston Deal Sheet: Energy Company Renews, Expands Downtown Office Lease
Freeport LNG Development expanded its lease at Three Allen Center, part of Brookfield Properties’ Allen Center campus at 333 Clay St. in Downtown Houston.
Freeport LNG is a liquefied natural gas export company headquartered in Houston. The three liquefaction trains at its Freeport facility produce more than 15 million tons per year. Freeport LNG’s liquefaction facility is the seventh-largest in the world and second-largest in the U.S.
Freeport LNG will extend its existing 57K SF lease by 9K SF for a new total footprint of about 66K SF at Three Allen Center. Freeport LNG Development has had its office at Allen Center since its founding in 2002.
PEOPLE
The Woodlands Area Economic Development Partnership appointed Jevon Gibb as its new CEO, effective Feb. 1. Originally from East Texas, Gibb has worked around the world and has a track record of driving economic growth, job creation and regional revitalization.
In his most recent role as senior consultant at Trailhead Strategies, he served as team lead for economic and community development services on projects and advised clients in multiple states on the development of major industrial sites, often working with site selection firms.
Gibb’s other experience includes serving as the director of regional economic development for Salt Lake County, Utah, and as an officer in the U.S. Navy Judge Advocate General’s Corps.
“We are confident that his leadership will help further advance The Woodlands Area as a thriving hub for business, innovation, and community development,” The Woodlands Area EDP Chair Whitney Wall said in a news release.
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Transwestern hired Sue Oldham as its director of talent transitions. Oldham will align recruitment, onboarding and offboarding efforts with Transwestern’s culture and values to grow the firm’s talent.
Oldham has more than 20 years of experience in consulting, nonprofit board service and higher education. She joins Transwestern from Vanderbilt University, where she was associate dean of MBA program operations.
SALES
Phillips Edison & Co. purchased the Shops at Cross Creek, a fully leased 24K SF retail center at 6630 FM 1463 in Fulshear. JLL Capital Markets’ Ryan West, John Indelli and Gianna New represented the seller, Rycore Capital LP.
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Marcus & Millichap procured a private buyer for the Courtyard by Marriott Houston NW/290 Corridor, a 112-room hotel at 6708 Gessner Road. Marcus & Millichap’s Skyler Cooper marketed the property on behalf of the seller, Unity Lodging LLC, and procured the private out-of-state buyer with support from Chris Gomes and Allan Miller.
Pete Fehlman and Jake Marshall of Marcus & Millichap Capital Corp. arranged the financing.
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History Maker Homes bought 20 additional acres adjacent to the 131 acres off Stockdick and Schlipf roads in Katy that it acquired last month. The expansion will give the residential development access to Beckendorff Road. Newcor’s David Alexander and Josh Cheatham brokered the deal.
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Industrial Realty Group acquired a 222K SF industrial manufacturing facility at 16730 Jacintoport Blvd., along the Houston Ship Channel.
The 21-acre site includes multiple structures, a barge dock, nine cranes, 30-foot clearance, heavy power and potential rail connection. The site also features 800 feet of frontage on the channel and the ability to add a deepwater dock.
The project has 91K SF available for lease and approximately 10 acres for outdoor storage or expansion. IRG’s Justin Lichter is handling leasing.
LEASES
Bauer Group negotiated two full-building leases totaling 84K SF at NorthStar Industrial Park, a five-building, Class-A industrial project on 79 acres at 100 FM 3083 in Conroe. The leases include a 57K SF lease with Unimacts and a 27K SF lease with Membrane Platforms.
Avison Young’s Drew Coupe and Dawson Smith represent Bauer Group on marketing efforts for the site.
The Unimacts lease is in Building A. It already occupied all 64K SF in Building B. The new space will be used for storage, manufacturing and distribution of steel tubing for the solar energy industry.
The Membrane Platforms lease is in Building D. The space will be used for the production and design of gas generation systems. Membrane Platforms was represented by Ron Wickes of Walzel Properties.
CONSTRUCTION AND DEVELOPMENT
Cresset Real Estate Partners, in a joint venture with Fidelis Residential Partners, will develop a nine-building, 252-unit multifamily community in Willis. Fidelis Willis is funded by Cresset's third qualified opportunity zone fund, Cresset Diversified QOZ Fund III.
The project will be in the community of Moran Ranch and will offer a mix of one-, two- and three-bedroom units. It is expected to break ground this year and be completed by the third quarter of 2026.
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Pagewood acquired 32 acres and plans to build Mosielee Commerce Park, a ground-up, Class-A industrial speculative development in Northwest Houston.
Mosielee Commerce Park comprises two buildings totaling 430K SF at 12020 State Highway 249. One building has a cross-dock configuration totaling 275K SF, with access from Old Foltin Road. The second building, adjacent to Highway 249, is front-load-configured and totals 155K SF.
The development was designed by Powers Brown Architecture in collaboration with Pagewood. David Buescher and Geoff Perrott with JLL are handling leasing. Nathan Wynne, Brock Hudson and John Fenoglio with CBRE helped secure financing. Construction is scheduled to begin this month.
