Westchase Office Campus Sees Leasing Spree: The Houston Deal Sheet
Stream Realty Partners announced more than 53K SF of new leases at The Towers at Westchase, a two-building Class-A office campus in Houston’s Westchase submarket.
The activity was led by an unnamed Houston-based construction firm that leased 23K SF at Towers at Westchase II and was represented by Bryant Lach and David Endelman of JLL.
International Trip Planning Services leased 17K SF at Towers at Westchase II with representation from Travis Taylor of Lee & Associates. Network Funding leased 13K SF at Towers at Westchase I, also represented by Lach.
Stream’s Matthew Seliger and Parker Noble oversee the leasing efforts on behalf of the landlord, Franklin Street Properties.
“Well-amenitized buildings with stable ownership remain highly competitive, and The Towers at Westchase is well-positioned to capture that demand,” Seliger said in a statement.
At 10350 and 10370 Richmond Ave., The Towers at Westchase's amenities include an on-site deli, a fitness center, a conference center and on-site property management.
PEOPLE
Transwestern hired Mark Sabatino as managing senior vice president — asset services on its national healthcare advisory services team. This newly created position will have Sabatino oversee healthcare property management operations and support the firm’s expansion of services and investment in the healthcare sector.
Sabatino brings more than 25 years of experience in asset management, leasing and property management across medical outpatient, life sciences, industrial and office portfolios.
LEASES
AB Energy USA, the American subsidiary of the Italian energy sustainability solutions company, chose The Woodlands for its North American headquarters, according to Howard Hughes. The company will occupy 11K SF at The Woodlands Towers at The Waterway.
AB Energy USA expects to add 45 jobs in The Woodlands this year as it establishes its headquarters. The company plans to add 30 jobs annually over the next five years across engineering, service, maintenance and integration roles.
Damon Palermo of Palermo Corporate Real Estate Advisors represented AB Energy USA.
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Vevor, a global online home improvement retailer, opened its first brick-and-mortar store in a former Big Lots in Houston. The 32K SF store at 10951 FM 1960 W. will offer in-store shopping and let customers buy products online and pick them up in-store.
Vevor began as an eBay seller in 2007 before expanding to Amazon in 2013 and its own website in 2020, according to Realty News Report.
“By opening our first global flagship in Houston, a city built for makers, we are creating a destination where people can explore options, ask questions, and develop practical solutions for both home projects and small business needs,” Vevor Brand Director Gavin Wu said in a statement.
CONSTRUCTION AND DEVELOPMENT
Prologis broke ground on the final phase of speculative development at its Port Crossing Commerce Center in La Porte. Plans call for two buildings totaling 229K SF, bringing the park’s total footprint to more than 2.7M SF.
The 300-acre campus near Port Houston will have 11 total buildings. The new buildings will be 120K SF and 109K SF, and delivery is slated for late this year.
FINANCING
Institutional Property Advisors secured construction financing for a four-building industrial park between Shiloh Church Road and Hollister Road just east of State Highway 249.
Construction should commence in mid-2026 on the development, which will have 28-foot clear heights and an outdoor trailer storage and parking area. IPA Capital Markets’ Cullen Atchison represented Adkisson Group in arranging financing from a local bank.
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Marcus & Millichap Capital Corp. secured refinancing for a multitenant retail center at 1302 Houston Ave. within the Washington Avenue Arts District.
MMCC worked on behalf of the borrower, The Damer Co., to arrange five-year, 69% loan-to-value financing with a credit union. The terms include a cash-out to the borrower, a fixed interest rate of 6.1%, and a 30-year amortization. MMCC’s Duke Dennis represented the borrower.
