The Deal Sheet
We're going to see a groundbreaking within 60 days on Mid Main for a new parking garage and multifamily units. (Nobody tell the ground though, it might get scared and run away.) Developer RHS Interests selected Transwestern to lease the office portion, which should move some dirt of its own when the ink starts to dry on preleasing.
Mid Main is a 215k SF mixed-use project, which includes 203k SF of Class-A office. Transwestern’s Doug Little and David Lee are marketing that space. David tells us the eight-story building will be at 3501 Main St (along the light rail) and is a unique blend of transit-oriented office space and a lifestyle center element that should be great for recruiting employees. Mid Main's office space will have nearly 10,000 SF of retail, and RHS is also building a 363-unit multifamily building with another 20k SF of retail. It’s adjacent to Midtown Arts & Theater Center (MATCH), which broke ground last month. Lewis Property Co’s Greg Lewis is leasing the retail space. Construction on the garage will begin immediately, with the office tower breaking ground when it secures a lead tenant. It's scheduled for completion in spring 2016.
Phillip B. Collins purchased a 14k SF industrial building on 1.6 acres at 3741 Trailmobile (the Northeast corridor). NAI Houston’s Chris Caudill repped the seller, Patrick M. Walton. Miramont Interests’ Reese Brown repped the buyer.
Principle Ventures purchased a 47k SF office/warehouse at 140 Industrial Blvd in Sugar Land. Southwest Realty Advisors’ Patrick McKiernan and Marc Drumwright repped the buyer and NAI Houston’s Chris Caudill repped seller Skyhope.
TNRG’s Robert McGee repped the buyer in two deals: B&G Crane Service purchased 12 acres on Thompson Road in Baytown (Fuller Realty’s Steve Darnall repped the seller), while BSL Industries purchased a 23k SF facility at 7538 Fairview.
RockMM Manufacturing purchased a 38k SF facility at 1616 North Main in Pearland. TNRG’s Mike Spears and Eric Bunting repped the buyer and Collins Realty’s Troy Collins repped the seller.
1705163 Alberta Ltd has purchased a 12k SF facility at 10045 Windfern Rd. TNRG’s Patrick Wolford, Eric Bunting, and Ryan Searle completed the transaction.
Master’s Craft Flooring leased 17k SF at 565 Garden Oaks Blvd. Lee & Associates’ Brett Lewis repped the tenant and InSite’s Steven Hazel repped landlord Houston Pine Forest M.
Berger Geosciences expanded by 16k SF at Northwest One (13100 Northwest Fwy). This is its second expansion since 2010. Moody Rambin’s Bob Gulley repped the tenant and PMRG’s Brad Sinclair repped the landlord.
J&S Audio Visual leased 19k SF at 448 Garden Oaks. NAI Houston’s Chris Caudill repped the tenant and ProLogis’ Jacob Milligan repped the landlord.
CONSTRUCTION & DEVELOPMENT
Freeway Properties broke ground on Katy Ranch Offices Phase 1, the first mid-rise office property built west of the Grand Parkway in Katy. Above, LSI’s Robert O’Connell and Glen Taylor, TAS Engineering’s Eddie Sanders, LSI’s Jason Snell and Kerry LaGrone, Freeway’s Mike Baker, Moody Rambin’s Griff Jaggard and Kurt Kistler, Katy EDC’s Lance LaCour, and Moody Rambin’s Bob Cromwell celebrate the groundbreaking. Katy Ranch Offices Phase 1 is a six-story, 151k SF facility just off the eastbound exit ramp in Katy Ranch. It will deliver in Q1 ’15 and is applying for LEED Gold. Griff and Kurt are leasing the property, Powers Brown is the architect, LSI is GC, and TAS is handling MEP.
HFF’s Colby Mueck and Scott Galloway arranged construction financing and JV equity for the development of Kirby Grove, a to-be-built, Class-A office, retail, and multifamily development in Upper Kirby. The team repped borrower Midway to secure the loan through Amegy Bank for the office tower and Cadence Bank for Avenue Grove (multifamily). Institutional investors advised by J.P. Morgan Asset Management provided JV equity for both the components.
Boris Hornjak joined Skanska as VP of operations. He’s a 30-year industry vet and will execute on large-scale projects, primarily high-rise buildings in Houston. Skanska also promoted Raylena Browning to preconstruction executive director. She worked on 3009 Post Oak.
THIS AND THAT
Asset Plus was awarded management of The Reserve at Windmill Lakes, a 392-unit multifamily community at I-45 and Beltway 8. The property is nearly finished with renovations to all units, and a dog park will be added soon. The onsite team aims to increase occupancy 5% within the first month.
NAI Houston was selected as exclusive leasing and property management for Northbelt Office Center II (785 Greens Pkwy), a 124k SF office building near IAH. Doug Pack and Sam Hanson will handle the assignment.
Memorial City Medical Plaza 4 was named a winner in the 2013 Texas Energy Roundup competition. The Texas Association of Healthcare Facility Management bestowed the honor based on the team’s success in reducing overall energy consumption by 17.7% from the previous year. Transwestern leases and manages the property, a 151k SF MOB in a 1.3M SF campus on I-10.
Stream Realty was selected to lease Sugar Creek I & II, located at 13131 and 13135 Dairy Ashford in Sugar Land. The two-building project totals 409k SF of Class-A office. It’s 98% leased. Ryan Bishop and Craig McKenna will oversee leasing for landlord Stockdale Capital Partners.
The North Houston Association bestowed its Environmental Impact Award on Springwoods Village for its holistic, sustainable design. Above, North Houston Association chairman of the board Alex Sutton hands the trophy to Springwoods project manager Clayton Benedict.
Trademark Property was selected by Rice Management Co to oversee asset and property management, leasing, and repositioning of Rice Village Arcade. The 195k SF open-air retail center is the largest retail property in Rice Village. It features 50 stores and restaurants, 60% of which are national brands. The team plans to enhance streetscape, landscaping, storefronts, and facades throughout.