This Week's Houston Deal Sheet
Miami-based Exan Capital purchased the 1M SF Amazon Katy Fulfillment Center in Brookshire.
The fulfillment center is situated on 84 acres at 31555 Highway 90 in Brookshire, about 38 miles west of Downtown Houston. The facility was constructed in 2018 by Duke Realty as a build-to-suit property for Amazon, which has 12 years left on its lease. The center features 36-foot clear heights, LED lighting, 100 dock-high doors, a deep truck court and parking for both trailers and employees.
JLL Capital Markets worked on behalf of the seller, Duke Realty. Exan Capital purchased the asset and structured the acquisition through one of its international investment vehicles. JLL also faced the five-year, fixed-rate acquisition loan with New York Life Insurance Co.
Exan’s Ignacio Gil-Casares and Arturo Vinueza represented the buyer, while JLL’s Trent Agnew, Rusty Tamlyn, Charles Strauss, Tom Weber and Jack Britton represented the seller. The JLL Capital Markets Debt Placement team representing the new owner was led by Colby Mueck, Michael Johnson and Molly Leinsdorf.
National Storage Affiliates Trust purchased a 14-property, 8,517-unit self-storage portfolio in Texas, Minnesota and Missouri. The portfolio consists of six properties in and around Houston, three in Austin, two in Minneapolis-St. Paul and one each in Dallas, San Antonio and St. Louis. JLL worked on behalf of the seller, The Jenkins Organization. The JLL Capital Markets Investment Advisory team representing the seller was led by Steve Mellon, Brian Somoza, David Berglund and Blaise Tomazic.
Welcome Group purchased the 129.1K SF Tally energy property in west Houston. The 7.1-acre site consists of four office and industrial buildings and is located at the southwest intersection of the West Sam Houston Parkway and Tanner Road. All four buildings on the premises were constructed in 2013 and are 100% leased by three tenants. Welcome Realty Advisors’ Ryan Wasaff and consultant John Wilson represented the buyer.
Claridge Properties purchased Northshore Meadows, a 291-unit multifamily community at 333 Uvalde Road. Berkadia’s Ryan Epstein, Jennifer Ray and Scott Bray represented the buyer as well as the undisclosed seller.
DAV Entrepreneurs purchased Cinco-Westheimer Parkway Plaza located at 20680 Westheimer Parkway in Katy. The 17.5K SF retail center is situated on 1.59 acres and is 94% occupied by both national and local tenants. Epic Realty’s Diamond Adatia represented the buyer, while Colliers International’s Jenny Seckinger and Ace Schlameus represented the seller, Hass Holdings LLC.
CONSTRUCTION AND DEVELOPMENT
Catalon at Lago Mar Phase 2 has opened. Catalon at Lago Mar Phase 2, the expansion of a luxury apartment community at 6201 Lago Mar Blvd. in Texas City, features four additional buildings totaling 170 one-, two- and three-bedroom luxury apartment homes. Construction on Phase 2 started in August 2019. The project is managed by Oldham Goodwin.
THIS AND THAT
JLL has been selected as the new retail leasing agent for CityPlace, the 60-acre mixed-use urban district in Springwoods Village. CityPlace is being developed by a joint venture between Patrinely Group, USAA Real Estate and CDC Houston. JLL’s Rip Reynolds is leading the marketing and leasing efforts for four locations within CityPlace, totaling 65K SF of available retail space, under the direction of Patrinely Group’s Dennis Tarro.
Transwestern Real Estate Services has been selected by Younan Properties to provide leasing services for Two Westlake, a 17-story, 454.8K SF building at 580 Westlake Park Blvd. in the Energy Corridor submarket. Two Westlake was previously owned by Rialto Capital Management, which sold the property to Younan Properties in December.
Plans for the building include full renovations to the common areas, the addition of a tenant lounge and move-in-ready spaces available for lease to create a world-class working environment for tenants. The renovation project is already underway and will be completed by the end of May. Transwestern’s Michelle Wogan, Evelyn Ward and Paula Musa will represent the building owner in leasing efforts.