DeliverIt Group plans to invest $11.9M in developing a 60K SF pharmaceutical facility in Sugar Land Business Park.
DeliverIt Group has been a family-owned specialty pharmacy headquartered in Sugar Land since 2010, and its expansion will be supported by a $1.3M performance-based incentive funded through the Sugar Land Development Corp.’s 4A sales tax program.
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The new-build project will be at a site adjacent to DeliverIt Group’s headquarters at 12144 Dairy Ashford Road, Suite 100. It will be a U.S. Food and Drug Administration-registered, Current Good Manufacturing Practice-compliant 503B outsourcing facility, meaning it will compound large batches of sterile medications.
The project will create 55 jobs and expand the company's capabilities from specialty pharmacy and infusion services into advanced pharmaceutical manufacturing. This investment comes as Sugar Land works to position itself as a hub for life sciences and healthcare innovation.
PEOPLE
Partners Real Estate hired Jen Suddreth as director of property management. She will oversee Partners’ Houston and Dallas property management operations, leading property and engineering teams.
Suddreth brings more than two decades of property management experience. Most recently, she served as vice president at JLL, where she directed a 3M SF Class-A office and retail portfolio in Downtown Houston.
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Carter Holmes joined NAI Robert Lynn as executive vice president, specializing in industrial leasing. Holmes represents landlords and tenants and will lead the build-out of the firm’s landlord representation practice.
His expertise spans the leasing, acquisition, disposition and development of single- and multitenant industrial projects.
SALES
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Curbline Properties bought a 5,950 SF Class-B shopping center at 2400 N. Shepherd Drive in The Heights after a bidding war, according to NewQuest. The 24th Street Market retail center is located at the corner of Shepherd Drive and 24th Street.
NewQuest’s Dakota Workman represented the seller, 24th Street Market LLC, which held the four-tenant shopping center for 10 years and redeveloped it.
Curbline Properties, a publicly traded REIT, competed against multiple full-price offers to buy 24th Street Market, which is occupied by Memorial Hermann-GoHealth Urgent Care, Mico's Hot Chicken, Green Earth Juicery & Café and Upscale Cleaners.
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First Houston Properties acquired a 6K SF freestanding office building at 6807 Wynnwood Lane, within the 610 Loop, to use as its commercial real estate brokerage headquarters.
LEASES
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NAES Corp., an independent services company, leased 28K SF at 1725 Hughes Landing Blvd. in The Woodlands, according to an announcement from Howard Hughes Communities, the real estate platform of Howard Hughes Holdings.
NAES is already a subtenant at 1735 Hughes Landing and chose to expand with a long-term lease as it invests in its next phase of growth. NAES was represented by Lucian Bukowski of Stream Realty Partners and Kip Durrell of CBRE, and Howard Hughes Communities was represented by JLL.
CONSTRUCTION AND DEVELOPMENT
StreetLights Residential and Hunt Real Estate completed construction on The Langley, a 20-story residential building at 1717 Bissonnet St., the former Ashby high-rise site.
The Langley has 134 two- and three-bedroom residences for lease, with rents starting at about $9,500. Leasing is exclusively represented by Martha Turner Sotheby's International Realty.
Amenities include 24/7 valet, concierge, a commercial-grade pizza oven and a porte-cochère arrival.
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S3 Capital originated a $28M construction loan for the Albritton, a 111-unit Class-A multifamily development in Friendswood. The sponsor is Friendswood-based developer Tannos Group.
The four-story property will have studio to two-bedroom units across 111K SF along with ground-floor commercial space, amenities and a two-level covered parking structure.
