Trammell Crow Co. and joint venture partner Clarion Partners delivered the third and final phase of Weiser Business Park in Northwest Houston. Phase 3 consists of two Class-A industrial buildings at 14281 and 14311 Fallbrook Drive in Cypress.
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The JV delivered Buildings 5 and 6, cross-docking buildings that are 274K SF and 354K SF, respectively. The park is now home to six warehouses totaling about 1.7M SF, with the first two phases 100% leased.
Seeberger Architecture acted as the architect of record, A&F General Contractors was the project’s general contractor, and construction financing was provided by Cadence Bank. Robert McGee and Taylor Schmidt of Colliers are handling the project's marketing.
Transwestern announced the start of another four-building phase at its 1.4M SF logistics park in Northwest Houston this week.
PEOPLE
René Galvan was named the new president and CEO of the Houston Association of Realtors. Galvan succeeds Bob Hale, who served in the position for 37 years.
Galvan has been part of HAR's leadership team since 1996 and served as executive vice president since 1998. Early in his career, he worked alongside Hale to help shape the original concept for HAR.com.
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Annabella Koloskov joined Gensler as healthcare planning director in Houston. She brings nearly four decades of experience and joins Gensler from Page, where she served as a senior healthcare planner.
SALES
Headwall Investments, a private investment and development firm specializing in unanchored neighborhood shopping centers, acquired Louetta Retail Center, a 34K SF building at 10130 Louetta Road in Northwest Houston.
Matt Maglothin of Altrue Capital sourced and facilitated the acquisition. Kendall Kerr and Tim Gregory of JLL represented the seller, according to Shopping Center Business.
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Colliers announced the sale of a manufacturing facility with a freestanding office and a stabilized yard at 6815 Signat Drive, 6818 Satsuma Drive and 6810 Satsuma Drive in North Houston. The property sits on about 3.6 acres with 27K SF of warehouse/manufacturing buildings and 3,900 SF of office space.
The seller was represented by Bob Parsley, Zack Taylor and Dan LaGree of Colliers, while the buyer was represented by Andrew Laycock and Michael Keegan with Partners Real Estate.
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Houston-based Sentinel Capital acquired Elm Creek, a 168-unit garden-style multifamily community in Kingwood. Built in 1982, Elm Creek features unrenovated one- and two-bedroom apartments.
The sale marks the final transaction in a four-property portfolio marketed by the Berkadia Houston investment sales team led by Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel, Kyle Whitney and Jed Dalton. The team represented the seller, HGA.
CONSTRUCTION AND DEVELOPMENT
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Fein began preleasing at Echo Lake, its fourth multifamily community in Houston’s City Place. The 326-unit garden-style property is expected to deliver its clubhouse and first residential buildings this month, with initial move-ins expected in late February or early March.
At 2002 Spring Stuebner Road in Spring, the property was designed by Steinberg Dickey Collaborative and built by Westchase Construction, an affiliate of Martin Fein Interests.
The community will have two- and three-story residential buildings offering studio and one-to-three-bedroom apartments ranging from 560 SF to 1,820 SF. About 40% of residences are designed as one-to-three-bedroom townhomes with attached garages, some with private yards.
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Junction Commercial Real Estate is preparing to break ground on a two-building, 350K SF industrial park in Southwest Houston, the Houston Business Journal reported. Post Oak Southwest Logistics Park will be built at 15231 S. Post Oak Road for about $35M.
Delivery is targeted for March 2027. Crow Holdings is partnering on the deal. Junction’s JP Hayes handled the land transactions.
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Rockefeller Group, in partnership with Pelican Builders, launched preleasing for Hudson Crossing, a 298-unit luxury community in Katy. The community will feature a mix of one-to-three-bedroom residences with interiors designed by MP Studio.
First move-ins are expected this spring. Select homes will offer expansive ceiling heights, integrated Sonos speakers and private yards.
FINANCING
The Temple Group, a Lakewood, New Jersey-based real estate owner and operator, secured an $18.5M senior loan to refinance Ashford Court Apartments, a 442-unit garden-style community at 12777 Ashford Point Drive in West Houston. The financing was provided by Castellan Capital.
