Uptown's BLVD Place Mixed-Use Adds Coworking: The Houston Deal Sheet
CUBExec, a flexible office and meeting space operator, is opening 50 private workspaces in BLVD Place, a Whole Foods-anchored mixed-use center in Uptown Houston.
Whitestone REIT acquired the 217K SF BLVD Place in 2017. It was developed by a partnership of Houston-based Wulfe & Co. and Bailard Inc. of San Francisco.
Along with Whole Foods, BLVD Place's tenants include restaurants North Italia, True Food Kitchen and Ninfas as well as Rooftop Cinema Club and the offices of Frost Bank.
“We expect CUBExec will be very appealing among Houston’s highly skilled workforce and will help solidify BLVD Place as a hub for innovation and activity,” Eric Blumsack, director of workspace strategy for Whitestone, said in a statement.
CUBExec at 1700 Post Oak Blvd. will open in a 12.5K SF space on the sixth floor. Along with private workspaces, there will be meeting spaces that can accommodate up to 15 people.
SALES
Pegasus Real Estate bought Lakeside, a 296-unit apartment complex at 9550 Meyer Forest Drive, from Knightvest Capital.
Built in 2001, Lakeside is a mid-rise community of one-, two- and three-bedroom units. The property was 92% occupied at the time of sale and has benefited from capital improvements, including enhancements to the clubhouse, pool and outdoor amenities as well as upgrades to the 24-hour fitness center and the addition of a dog park.
Newmark’s David Mitchell represented Knightvest Capital. Newmark’s Colin Cross secured the financing on behalf of the buyer.
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Sagard Real Estate acquired a 75K SF industrial facility directly across from the Port of Houston’s Barbours Cut Container Terminal in Southeast Houston. Built in 2008, the Class-A facility has 28-foot clear heights, a front-load configuration and an acre of dedicated yard space on the 5-acre site.
Sagard Real Estate’s industrial investment strategy focuses on acquiring high-quality, functional assets in the nation’s top markets.
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Partners Development, the development platform of Partners Real Estate, sold Phase II of Broadway Plaza, a retail shopping center at 11940 Broadway St. in Pearland. Marc Peeler, Joan Collum and Cobo Fajardo of Partners Real Estate represented Partners Development.
Partners Development originally purchased about 3 acres at the southwest corner of Broadway Street and Shadow Creek High School in Pearland in December 2020 to develop a 21K SF neighborhood retail center of two 11K SF buildings. Phase I sold in 2022.
Achieving 100% occupancy at the time of sale, Phase II is anchored by Pet Supplies Plus and features a tenant mix including regional favorites like Kolache Shoppe, specialized services like The Lash Lounge, and a local pizzeria.
CONSTRUCTION AND DEVELOPMENT
Caldwell Cos. plans to build its fourth Cadence Creek active-adult rental community in Kingwood. The 220-unit community is designed for people 55 and older, with one- and two-bedroom apartments and cottages.
Off Woodridge Parkway just north of Northpark Drive, Cadence Creek Kingwood will feature a dog park, a community garden, a coffee lounge, a private dining room and meeting rooms. Construction for Cadence Creek Kingwood is scheduled to begin in 2026, with first move-ins anticipated in 2027.
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The Federal Home Loan Bank of Dallas, Comerica Bank and New Hope Housing celebrated the grand opening of NHH Ennis, an affordable housing community for seniors in East Downtown. The development utilized an $850K FHLB Dallas Affordable Housing Program grant awarded through Comerica Bank.
NHH Ennis offers 112 one- and two-bedroom apartments for seniors earning between 30% and 60% of the area median income. NHH Ennis also offers residents supportive social service programs, which are integrated into the rent.
