Ensign Natural Resources leased 26K SF at First Community Tower, the 20-story office building acquired by First Community Credit Union in the first quarter of this year.
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Founded in 2017 and headquartered in Houston, Ensign Natural Resources is an oil exploration and production company, growing through asset acquisitions and development.
“Ensign was experiencing tremendous growth and needed a move-in-ready office solution on an accelerated timeline,” Partners Real Estate’s Harrison Schuhmacher said in a statement. “We identified and secured Class A office space that met their needs, and had their employees at their desks in the new office within 60 days of beginning the search.”
First Community Credit Union bought the 471K SF building at 1002 Noble Energy Way in the Tomball/Vintage Park area, with plans to expand and occupy up to 50% of the building, where it made its headquarters.
Partners’ Schuhmacher and John Zivley represented Ensign. FM 1960/Highway 249 recorded the metro’s largest net office absorption in the third quarter at 88K SF, according to Partners.
PEOPLE
Transwestern Investments hired Rod Richerson as executive managing director of healthcare and life sciences. He will lead investment strategy across both sectors.
Richerson has more than 30 years of commercial real estate experience and joins Transwestern from Sterling Bay, where he was managing principal. Before that, he was regional president at KBS Realty Advisors.
Joining Richerson at Transwestern Investments is Niema Beglari, who brings experience in healthcare real estate capital markets, acquisitions and asset management.
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Riverflow Commercial Properties is now affiliated with Coldwell Banker Commercial and will operate as Coldwell Banker Commercial Riverflow. Carlos Iglesias founded the Houston-based, family-run commercial real estate brokerage, which specializes in the acquisition, disposition and leasing of special use, land, retail and industrial properties.
SALES
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California-based Turner Impact Capital acquired a 378-unit Houston multifamily community where it plans to preserve affordability through a tax exemption agreement with the Houston Housing Authority.
The company acquired Acova Brentwood in Southwest Houston with its Turner Multifamily Impact Fund III. Under the regulatory agreement, the fund will maintain rent restrictions, reserving at least 152 units for households earning 80% of area median income and 37 units for households earning up to 60% of AMI. Nearly all of the nonrestricted units have rents affordable to low- and moderate-income residents.
Built in 2023, Acova Brentwood is a garden-style community with nine three-story residential buildings across 13 acres. The one- and two-bedroom apartments feature keyless entry. Amenities include a fitness center, pool, dog park, personal garages and covered parking.
TI Communities, Turner Impact’s property management affiliate, will operate the community.
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Houston Auto Auction Properties sold a four-building, 64K SF industrial property on 11 acres at 6370 Gulf Freeway. Partners Real Estate’s Braedon Emde and A.J. Williams represented the seller.
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MCB Real Estate sold Easton Commons, a grocery-anchored retail center in Northwest Houston. MCB first purchased the center in 2013, sold it, and then purchased it again in 2023.
MCB leased the 41K SF junior-anchor space to EoS Fitness, secured a 10-year extension with Kroger, and contributed toward improvements to Kroger’s fuel station.
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Morningstar Properties bought Surfside Marina, a 31-acre marina property at 827 Gulf Road in Surfside Beach, about 65 miles south of Downtown Houston. Andrew Cantor, Matt Putnam and Dan Grovatt of Colliers represented the seller, VIP Marinas. The buyer was not represented by a broker.
Surfside Marina has two adjacent campuses totaling 31 acres, including a main campus and a 1.6-acre secondary campus known as Barn C/Gulf Coast Marina, acquired in 2021. The property has indoor dry storage racks, wet slips, storage for more than 80 trailers, storage lockers and 20 RV pads with utility hookups. The buyer could add 2K SF of retail space, which was previously occupied by a boat dealership.
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Partners Real Estate’s A.J. Williams represented the seller and Zane Carman represented the buyer of two newly constructed crane-ready manufacturing buildings totaling 58K SF at 5339 and 5520 Bay Oaks Drive in Pasadena’s Bay Oaks Business Park.
The concrete tiltwall buildings span 25K SF and 33K SF on 4 acres. Carman will lease the buildings.
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The shareholders of Houston Eye Associates sold a 54K SF medical outpatient building at 2855 Gramercy St. The 100%-occupied property serves as the headquarters of Houston Eye Associates and features its ambulatory surgery center.
Transwestern's National Healthcare Capital Markets team, including Steve Leathers, Bill Boyd, Seth Gilford, Jake Jordan and Max Hastings, along with Houston healthcare team members Eric Johnson and Rachel Glass, arranged the sale on behalf of the shareholders.
LEASES
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NewQuest secured a 20-year ground lease with Murphy Oil USA Inc. to develop a fueling station and convenience store in front of Joe V's Smart Shop in North Houston.
Construction is underway at the intersection of FM 1960 and Aldine Westfield Road. Completion is expected in the second quarter.
Joe V's parent company, H-E-B, had been considering a fueling station at that corner for about two years, said NewQuest’s Rebecca Le, who represented H-E-B in the deal. Jonathan Hicks of Fourth Name Investments Inc. represented Murphy USA.
The H-E-B property at 2929 FM 1960 includes a 55K SF Joe V’s, 18K SF of neighborhood services inline retail and a Quick Quack Car Wash.
“With a limited number of pad sites, H-E-B is being selective about the end use,” Le said. “Murphy Oil is a quality operator and a good fit for the center.”
H-E-B has two more retail pad sites available in the 18-acre development, which Le is marketing, along with a 1,500 SF space, the center’s first vacancy in five years.
FINANCING
IPA Capital Markets secured acquisition financing and a joint venture equity partner for Adkisson Group to buy Northwoods Industrial Park in Houston’s largest-ever industrial campus sale.
Located near the intersection of Highway 290 and Beltway 8, Northwoods Industrial Park is a 250-acre manufacturing park with 68 buildings totaling 2.8M SF.
IPA Capital Markets’ Cullen Atchison, Jeremy Slocumb and Hayden Sieling represented Adkisson Group in securing the financing, with funds managed by affiliates of Fortress Investment Group, and a partner in PCCP.
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