Fahra International Inc. purchased Inwood Forest Shopping Center at 5700-46 West Little York Road in the northwest Houston submarket.
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The 89.2K SF, two-building project is anchored by a 20.5K SF La Michoacana grocery, a 20K SF Giant $ and a 9.8K SF CSL Plasma. The 6-acre project is one of the largest retail centers in the neighborhood.
Houston’s northwest retail submarket has an inventory of about 65.2M SF, and showed a vacancy rate of 5.9% during the first quarter, according to JLL’s Q1 2020 retail insight report.
NewQuest Properties’ David Luther, Bob Conwell and Josh Friedlander represented the seller, RPI Interests I Ltd., and sourced the buyer.
SALES
Latitude 17 Holdings LLC purchased a 25.1K SF, free-standing tiltwall construction industrial warehouse/office building at 7311 Galveston Road in the southeast submarket of Houston. NAI Partners’ Clay Pritchett and Zane Carman represented the buyer, while Vita Realty’s Hache Annamuhammedov and Andy Yaltir represented the seller, Yilteks Warehouse LLC.
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Seis GEaR purchased a 27.4K SF industrial property at 126 Anton Stade Road in Rosenburg. NAI Partners’ Travis Land and AJ Williams represented the buyer, while Colliers International’s Barkley Peschel represented the undisclosed seller.
LEASES
Advanced Wheel Sales leased 65.5K SF of industrial warehouse space at the newly constructed Waypoint Business Park in Missouri City. The lease encompasses part of Building 2 at the business park, which totals 248.9K SF. Transwestern Real Estate Services’ Nick Peterson and John Ferruzzo represented the tenant, while Stream Realty’s Matteson Hamilton and Justin Robinson represented the landlord, Waypoint Business Park LLC.
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Niche Importing Group LLC renewed its 13.4K SF industrial lease at 1499 Post Oak Road. NAI Partners’ Shaffer Braun represented the landlord.
THIS AND THAT
East End Maker Hub is accepting leasing applications for interested tenants. Available lease space ranges from studios for makers ranging from 450 SF to 60K SF for small batch manufacturers. The development combines coworking and creative space needs by providing need-specific space to local artists, small-batch and industrial manufacturers, and makers of all types. Houston-based manufacturing incubator TXRX Labs will occupy 60K SF in the space. Phase 1 of construction of East End Maker Hub is slated for completion in the summer.
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