This Week's Houston Deal Sheet: Howard Hughes Beefs Up Its Woodlands Office Portfolio
Howard Hughes Holdings Inc. acquired 10101 Woodloch Forest Drive, a Class-A office building in The Woodlands, for $16.3M. The unoccupied, eight-story building will be renamed Waterway 7 and add more than 200K SF to Howard Hughes’ office portfolio in the master-planned city.
The building sits on a 1.6-acre site with 700 parking spaces in an adjacent garage. It was originally built in 2009.
A JLL Capital Markets Investment Sales and Advisory team led by Kevin McConn and Jeff Hollinden represented the seller, Net Lease Office Properties.
PEOPLE
KBC Advisors hired Woody Hillyer as a Houston market leader to enhance the project leasing team following KBC’s recent Texas team expansion. Hillyer previously served as a vice president for Stream Realty Partners, where he helped manage a leasing portfolio of more than 40M SF.
SALES
Cypresswood Partners LLC sold the 33K SF Spring Park Village shopping center at 19380 Interstate 45 in Spring to RMT 42 LLC. Dakota Workman of NewQuest represented the seller. Marc Peeler of Partners Real Estate represented the buyer.
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Marcus & Millichap’s Skyler Cooper, Chris Gomes and Allan Miller marketed and procured a buyer for the 76-room Candlewood Suites Pearland, an IHG Hotel at 9015 Broadway St. in Pearland.
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Oxford Partners represented TF Warren Group in the purchase of the 105K SF building at 12001 Hirsch Road in Houston. Oxford Partners’ Ryan Hartsell, Matt Rogers and Stephen Hazen represented the buyer, while Carlton Anderson and Nathan Mai of Mohr Partners represented the seller.
LEASES
Brookfield Properties was represented by CBRE’s Bubba Harkins, Kristen Rabel and Jenny Sealy in the following leases:
- TPC Group LLC renewed its 28K SF lease at One Allen Center at 500 Dallas St. TPC Group was represented by Cameron Ayles and Ross Perlman of Newmark.
- Riverbend Oil & Gas VII LLC, a fund managed by Riverbend Energy Group, signed a lease to renew and expand its space at Two Allen Center at 1200 Smith St. for a new total of 28K SF. Charlie Neuhaus of Partners Real Estate represented Riverbend.
CONSTRUCTION & DEVELOPMENT
Triten Real Estate Partners broke ground on a 25-acre site at the intersection of FM 1960 and Kenswick Drive in North Houston. Triten will develop the site into two front-load distribution centers totaling 393K SF.
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The Sugar Land Development Corp. and the Sugar Land 4B Corp. approved three five-year performance agreements to support office revitalization in Sugar Land Town Square. The agreements include $12.5M to support tenant and office improvements to Building B and Building H at 15958 City Walk and 2150 Town Square Place, respectively.
The buildings will get upgrades, including modernization of amenities, furniture, fixtures, equipment and signage. The improvements were identified in September by the project’s operator and property management firm Rebees as a part of a broader repositioning strategy for the district.
