Woodside Acquires 4-Building Office Campus: The Houston Deal Sheet
Fort Worth-based Woodside acquired a four-building office campus totaling 200K SF in Northwest Houston.
The buildings were previously part of a seven-building complex called Heron Lakes Office Park. Woodside rebranded the buildings, at 7904, 7906 and 7908 N. Sam Houston Parkway W. and 10740 N. Gessner Drive, as Saddlebrook Place.
Woodside plans to implement capital improvements to enhance tenant experience including refreshed common areas and the introduction of move-in-ready spec suites.
Stream Realty Partners’ Matt Asvestas and Parker Noble will oversee leasing for the property.
“Saddlebrook Place represents a compelling opportunity to reposition a well-located asset in one of Houston’s most accessible submarkets,” Noble said in a press release.
PEOPLE
Houston-based real estate investment and development firm DC Partners appointed Roberto Contreras IV as CEO. He replaces DC Partners’ founder and his father, Roberto Contreras III, who will remain chairman of the board.
Contreras IV has played a role in every DC Partners development since its 2011 establishment, such as the luxury condo development The Allen.
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Oxford Partners hired Kim Hillman as senior vice president. Hillman brings nearly 20 years of commercial real estate experience at firms including Colliers International and Lee & Associates, with a focus on industrial, logistics, land and investment sales.
Hillman will focus on expanding Oxford Partners’ industrial presence across the Houston market, with particular emphasis on the Port, Baytown and Grand Parkway corridors.
SALES
Rosenberg-based Vibrant Hospitality bought the 57-key La Quinta Inn & Suites by Wyndham Bay City at 5300 Seventh St. in Bay City from Twiga Hotels Bay City LLC, based in Longwood, Florida.
HVS brokerage and advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, Kyle Peterek and Daneen Godinet participated in the transaction.
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Scott Jones, Gus Lagos and Alex Wolansky of Marcus & Millichap’s Houston office brokered the sale of a 48K SF freestanding gym property at 7300 W. Greens Road in Northwest Houston. The seller was a California-based investor. The buyer was a local investor completing a 1031 exchange.
LEASES
Houston-based Levey Group’s 662K SF speculative industrial development in Pearland is now fully leased.
Creative Innovations Inc., a third-party logistics provider serving e-commerce merchants, leased 497K SF. Canopy Solutions, a provider of protective building structures that initially leased 83K SF, now occupies over 107K SF. Nin Jia Q Investments leased 58K SF for the production and distribution of automobile components.
Creative Innovations occupies the park’s cross-dock facility, while Canopy Solutions and Nin Jia Q occupy the rear-load building.
Levey Logistics Park is the largest industrial development in Pearland and was developed with the city of Pearland and the Pearland Economic Development Corp., according to a press release from Levey Group.
Allison Bergmann and Michael Foreman of Cushman & Wakefield handled leasing. Design and construction services were provided by Goree Architects and Harvey Builders.
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Paton Engineers and Constructors leased 24K SF at an industrial building at 218 N. Preston Ave. in Pasadena. Jason Gibbons and Tyler Holt of Finial Group represented the landlord.
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Creation, a Dallas-based real estate developer, reached full lease-up at Houston Point 290, a three-building industrial campus totaling 383K SF. Gutor, a power solutions company, most recently leased 90K SF.
The property at 9210 Highway 6 N. has tenants including Goodwill, which occupies 150K SF, Windy City Wire, Linc Home Services and Procraft Cabinetry.
CONSTRUCTION AND DEVELOPMENT
Zimmerman Properties, with Harris County Housing and Community Development and Harris County Housing Finance Corp., completed a rehabilitation of 220 units at Meadowbrook Plaza Apartments at 600 E. Little York Road in Houston’s Northside.
The remodel includes updated finishes, renovated kitchens and bathrooms, and critical infrastructure improvements.
FINANCING
Newmark arranged financing for The Kippford at Kemah Crossing, a 350-unit, Class-A multifamily property at 2201 Evergreen Memorial Parkway in Kemah. Newmark’s David Schwarz secured the bridge loan from Greystar on behalf of borrower Allen Harrison Co. and Carlyle.
Constructed in 2023, The Kippford at Kemah Crossing is a garden-style community with one-, two- and three-bedroom apartments.
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Elm Real Estate Group, an affiliate of KCG Cos., secured construction financing for The Westermark, a 165-unit, Class-A multifamily development near Sugar Land.
Wintrust Commercial Real Estate provided the construction loan, and Fundrise invested as the preferred equity partner. Patterson Real Estate Advisory Group advised Elm on the capital raise.
The Westermark will be developed on 5 acres and will consist of two five-story, elevator-served residential buildings with a mix of studio, one-, two-, and three-bedroom units.
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Knightvest Capital secured an $81M first mortgage debt to refinance Domain Memorial, a 313-unit townhome rental community at 14800 Memorial Drive in Houston’s Briar Forest area. The community was built in 2016, and Knightvest acquired it from the developer in 2022.
Knightvest has implemented interior renovations across most units, along with exterior and common area upgrades including improvements to the parking lot, installation of a new EV charging station, enhanced lighting and landscaping, and updates to the clubhouse, pool area and fitness center.
Knightvest will use a portion of the proceeds from the five-year, floating-rate loan to complete the interior renovations. The property is 95.2% occupied.
