The CBRE Hotels team stayed prolific over the holidays. Completing their 21st deal of the year, Eric Guerrero, Michael Yu, Rahul Bijlani, Dennis Drake and James Foxx executed the sale of the Holiday Inn Express & Suites in Tomball, a 72-room asset.
:no_upscale():quality(75))
CBRE Hotels repped both sides of the deal. According to Guerrero, there are still investors looking for premium branded hotels in the Bayou City. “Based on market feedback, there are a good amount of investors wanting to get into the Houston market,” he said.
SALES
Lee & Associates' Taylor Schmidt and Reed Vestal repped the seller, MCI Grand Parkway, in the sale of 5.2 acres at the corner of Clay and Mason roads in Katy. Greg Slusky of Sluco Realty Services repped the buyer, Continental Superior Management Groups.
***
:no_upscale():quality(75))
The three-story 20k SF Town Center office building formerly known as Maharishi Peace Palace was sold by Newcor Commercial Real Estate’s Rob Banzhaf and Ryan Dierker on behalf of Upstream Exploration. The undisclosed buyer was an individual repped by NGKF's Bill Burge.
***
Bluebonnet purchased a 40k SF office/warehouse facility at 4330 Bluebonnet Drive in Stafford. Southwest Realty Advisors' Marc Drumwright repped seller NBI while Foster & Co's Scott Voelkel repped the buyer.
***
:no_upscale():quality(75))
Marcus & Millichap’s Derek Hargrove and Matthew Mignerey completed the sale of a 34k SF industrial asset. The buyer of the property at 8943 Gulf Fwy was a developer. The asset had a list price of $2.7M.
LEASES
4C2 Electrical leased 12k SF with WA Development in the Corporate Centre Shepherd Business Park. Cushman & Wakefield’s Bill Stone repped the tenant. David R. David and Drew Beeson of WA Development repped the landlord.
HIRES/PROMOTIONS
CBRE promoted four individuals to SVP: Kevin Kushner, Patrick Rollins, Joseph Smith and Ed Frantz.
