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This Week's Houston Deal Sheet

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Forum Energy Technologies renewed its 109K SF lease at Sam Houston Crossing II at 10344 Sam Houston Park Drive in Houston. 

“We are pleased Forum Energy Technologies chose to make a long-term commitment to the building by relocating its global headquarters to this location and extending its lease term,” said Transwestern Commercial Services Managing Director Doug Little, who, along with Louann Pereira, represented the landlord, Buchanan Street Partners. 

This Week's Houston Deal Sheet
Sam Houston Crossing II at 10344 Sam Houston Park Drive, Houston

Sam Houston Crossing II is a 159K SF, Class-A office building designed to maximize energy efficiency and water savings and create a healthy work environment. The building is 100% occupied.

CBRE’s Jeff Cairns, Bill Boyer and Steve Hesse represented the tenant. 

EXECS

Pinal Patel and Cathalin Leija were hired at AC Hotel by Marriott, a 195-room, 10-floor hotel that is expected to open in late June in downtown Houston. Patel, who has two decades of hotel management experience, will serve as general manager for the hotel. Leija, who has 15 years of experience in hotel sales and marketing, becomes the director of sales. 

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Maggie Rosa was hired as general manager of C. Baldwin, Curio Collection by Hilton. Christopher Baran was named as director of sales and marketing. C. Baldwin anchors The Allen Center, a mixed-use development in Downtown Houston.

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Nick Mathews has been promoted to vice president at W.S. Bellows Construction Corp. He will lead the company's Medical Center Renovation Team. Previously, Mathews has worked on The Capital Group project in San Antonio and Texas Children’s Hospital Feigin Center Vertical Expansion project in Houston. 

SALES

An undisclosed buyer purchased Citywest Retail Center at 2550 Citywest Blvd. and 10550 Westheimer Road in Houston. Over 80% of the tenants are national and regional retailers, including FedEx, Zoë's Kitchen, MOD Pizza, Panera Bread, Ideal Dental, Yogurtland and Tropical Smoothie Café. EDGE's Micha van Marcke and Chace Henke represented the seller, which was also undisclosed.

This Week's Houston Deal Sheet
Haven at Lakes of 610 in Houston

American Landmark acquired Haven at Lakes of 610 Apartments, a 282-unit multifamily property in the South Main area in Houston. The firm will invest $1.45M in capital investments in the property and rename it Aspire at 610. A joint venture between Guefen Development and The Rainier Cos. sold the property. 

LEASES

Five Post Oak Park, a 567K SF, Class-A office tower, signed over 117K SF in office leases in 2018. Shorenstein Properties, the building owner, completed extensive building renovations including upgrades to the building's lobby and elevators and renovations to the fitness and conference centers. Colvill Office Properties' Vince Strake and Damon Thames represented the building owner.

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Welocalize Inc. expanded to 47K SF at 785 Greens Parkway in the North Belt submarket in Houston. In addition, Gardner Denver Inc. renewed a 15K SF lease at the same building. Stream's Craig McKenna and Brad Fricks represented the landlord, TriGate Capital LLC. Cushman & Wakefield's Scott Visin represented the tenant. JLL's Don Foster represented Gardner Denver Inc.

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Two companies fully leased the 10K SF industrial space at 9034 Sweetwater Lane in North Houston. Belvoir Real Estate Group's Kyle Fischer and Sean Harman represented the landlord, PJO Investments. 

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Las Delicias Import LLC signed a 16K SF industrial lease at 15250 West Drive in Houston. Finial Group's Doc Perrier and Jason Gibbons represented the landlord.

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Phoenix Pump Inc. renewed and expanded in a 15K SF industrial warehouse space in Four Seasons Business Park at 6814 Bourgeois Road in Houston. Finial Group's Jack Gaffney and John Buckley represented the landlord. 

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RT Cabinets inked a 50K SF office and warehouse lease at 4702 Windfern Road in northwest Houston. First Houston Properties' Patrick McKiernan represented the landlord, FHS Investments. 

This Week's Houston Deal Sheet

Sugar Land Town Square signed four new tenants and expansions. New tenants include ICON Clinical Research LCC, Western Container Corp., Syntex Energy and Contract Land Staff. Planned Community Developers' Don Janssen represented the landlord in-house.

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Flo Trend inked a 46K SF industrial lease at 1400 Kowis St. in Houston. NAI Partners’ Chris Caudill and Joel Michael represented the landlord, NRE LLC. Cushman & Wakefield's Stephen Schneidau and Independent Real Estate Commercial's Bill Schneidau represented the tenant. 

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Dickinson Fleet Services signed a 10K SF industrial space at 1300 East Richey Road. Black Label Commercial Groups' Beau Harris and Nick Lyras represented the landlord, Ress Investments Inc. Alan Gooch represented the tenant.

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Two technology firms, Ruths.ai and UiPath, inked office leases at Main&Co., a mixed-use development. The deals bring the office component to 100% leased. The five-story downtown historic redevelopment was completed in June 2017. Other tenants include The Cottonmouth Club, ETRO Nightclub, Lilly&Bloom and LCD Gallery. It also includes a 7K SF mural named Produce Row. 

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The Law Office of Bryan Fagan renewed and expanded to 10K SF at 3707 FM 1960 West in Houston for one year. Richard Maloof represented the tenant. 

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Galen Health Institute Inc. signed a 75K SF lease at 7411 John Smith Drive in Houston. Kacie Skeen represented the landlord, Hartman Income REIT.

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Craven Carpet Inc. renewed a 20K SF lease at 5400–5401 Mitchelldale St. in Houston for five years. Kacie Skeen represented the landlord, Hartman Income REIT.

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G2MT LLC expanded by 11K SF at 5400–5401 Mitchelldale St. in Houston for two years. Kacie Skeen represented the landlord, Hartman Income REIT. 

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Snapsteam Media Inc. expanded a 10K SF lease at 601 Sawyer in Houston for two years. Richard Maloof represented the landlord, Hartman Income REIT. 

This Week's Houston Deal Sheet
A rendering of Waypoint Business Park in southwest Houston

DEVELOPMENT  

4M Investments and Clarion Partners created a joint venture to construct Waypoint Business Park in southwest Houston. The project sits on over 60 acres and will offer over 850K SF of warehouse product. Phase 1 is composed of four buildings and is designed to accommodate users ranging from 10K to 290K SF. Additionally, 14 acres are available for build-to-suit projects with direct frontage along Beltway 8. Stream's Matteson Hamilton and Justin Robinson will lease the business park. HFF's Colby Mueck, Trent Agnew and Charlie Strauss led the formation of the joint venture. Powers Brown designed the project, Jones & Carter is the civil engineer and Burton Construction is the general contractor. 

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CEMEX USA spent about 20 hours pouring the concrete for the foundation of Texas Tower, a new 47-story office building in downtown Houston. More than 220 CEMEX mixer truckers delivered 14,000 cubic yards of ready-mix concrete. Hines and investment partner Ivanhoé Cambridge are developing the 1M SF skyscraper on the former site of the Houston Chronicle. Texas Tower is expected to be completed in late 2021 and will become Hines' new global headquarters.

FINANCING

Berkadia secured financing for three multifamily communities in Houston on behalf of Eagle Property Capital. All three loans were lower leverage fixed-rate, with 10-year terms and five years interest-only. The apartments include Landmark at Barker Cypress, Champions Centre Apartments and Champions Park Apartments. Berkadia's Mitch Sinberg, Brad Williamson and Matthew Robbins represented the borrower. 

THIS AND THAT

InterContinental Houston-Medical Center opened its doors for its official grand opening event. The 21-story hotel features 124 deluxe king bed guest rooms, 193 deluxe double queen guest rooms, 37 suites and the Club InterContinental Lounge. On-site amenities include the new Mediterranean restaurant, Safina Restaurant & Bar, an outdoor pool and a state-of-the-art fitness center. 

Related Topics: Houston Deal Sheet