May 16
Sales
Office
JEKA Ventures has purchased the Gateway Building, a recently constructed three-story building with 23,051 square feet at 26865 Interstate 45 in Spring. Lisa Hughes of the J. Beard Real Estate Co. represented the seller, MM & GG Real Estate. Kevin Barr of Mohr Partners represented the buyer.
Industrial
A private fund advised by Crow Holdings Capital-Real Estate has purchased a 27-building, 2.35 million-square-foot industrial portfolio in the Houston and Dallas-Fort Worth areas. Holliday Fenoglio Fowler marketed the portolio for the seller, a partnership between Mayfield Properties and AB Real Estate Group. The Houston portion consists of eight facilities with 16 buildings totaling 1.335 million square feet and is 93.6 percent leased. The properties are: 1801 W. Sam Houston Parkway; the two-building Greengrass Drive facility at 1401-1431 and 1501-1527 Greengrass Drive; 401-421 W. Crosstimbers; the four-building Willowbrook facility with 8270 and 8280 Willowbrook Place North, 9305-9323 Millsview Road and 13161-13175 Misty Willow Drive; and the two-building Wynnwood Park at 7215 Wynnwood Lane and 7240 Wynnpark Drive; the three-building Julie Rivers property at 505 and 525 Julie Rivers Road and 12505 Reed Road in Sugar Land; and the two Corporate IV buildings at 12603 and 12613 Executive Drive and 4000 Greenbriar in Stafford. HFF’s Randy Baird, Rusty Tamlyn, Jud Clements, Trent Agnew, Robby Rieke, Stephen Bailey and John Rogers were on the investment sales team representing the seller.
A Lexington Realty Trust affiliate has purchased a two-property, 449,895-square-foot portfolio occupied by Spitzer Industries, which has leased back the properties for 20 years. Trent Agnew, Coler Yoakam, Scott Galloway and Campbell Black of HFF marketed the property on behalf of the Spitzer Industries/Stephens Group. The portfolio serves the operating needs for Spitzer Industries, a custom fabricator of specialized equipment for the energy industry and is composed of the Waterfront Deck and Brookshire Orizon properties. The Waterfront Deck property consists of six buildings totaling 187,800 square feet at 13863 Industrial Road in east Houston. The Brookshire Orizon facility is a 262,645-square-foot building at 7007 FM 362 in Brookshire.
Retail
Baker Katz and Lovett Commercial have sold a 13,013-square-foot building occupied by CVS Pharmacy on more than 1 acre at 15411 Wallisville Road at Beltway 8. The Houston-based firms originally purchased the property in 2007.
Leases
Office
U.S. Silica Co. has signed up as the first tenant in the Katy Ranch Phase I office building under construction at 24275 Katy Freeway. The company, a provider of proppants used in oil and gas drilling, has leased 17,464 square feet in the building, which is set for completion at the end of May. The first floor of the six-story building is leased, with 131,888 square feet still available, according to Moody Rambin. Kurt Kistler and Griffin Jaggard of Moody Rambin represented the landlord, Katy Ranch Offices LP. Don Foster with Jones Lang LaSalle Americas represented the tenant. The building is part of Katy Ranch Crossing, a mixed-use development with 2 million square feet along Interstate 10 just outside the Grand Parkway.
Michael Baker International, a survey and civil engineering firm, plans to open an office in the new Grandway West Building 1 at 1904 Grand Parkway North in late June, according to the Katy Area Economic Development Council. Paul Wittorf and Parker Burkett of Transwestern represented the owner, InSite Realty and Urban Construction, in the 3,584-square-foot lease.
Ryder Truck Rental has renewed a lease for 5,851 square feet at 16155 Park Row Drive. Ron McWherter with CBRE represented the tenant. Shay Moore of Adler Realty Services represented the landlord, AF Technipark Ten.
L-3 Security Solutions has renewed a lease for 5,781 square feet at 1002 Gemini. Ron McWherter with CBRE represented the tenant.
Industrial
SW Geo has leased an 8,520-square-foot office/warehouse on 1.2 acres at 13820 Aston. Patrick McKiernan and Marc Drumwright with Southwest Realty Advisors represented the landlord, GKG. John Patterson with Amence Development represented the tenant.
OCO Pressure Control has leased an 8,000-square-foot building at 16518 Aldine Westfield. Mike Spears and Thomas Leger of TNRG represented the landlord, Art Migl Investments.
BTEC Turbines has renewed a lease for 27,200 square feet of office/warehouse space at 6755 Willow Brook Park near Cutten Road. BTEC offers power plant design, construction and support for gas turbines. Dan Zoch of the Carson Cos. represented the landlord, Houston CSPI I. David Gerber of Gerber Realty represented the tenant.
Regional District Council Training Trust has renewed its lease at 1511 Upland. Thomas Leger and Mike Spears of TNRG represented the landlord, Tidwell Real Estate Group.
Starplast USA hasrenewed its 76,440-square-foot lease at Bay Area Business Park at 9401 Bay Area Blvd.in Pasadena. Ryan Fuselier and Travis Secor of JLL represented the tenant. Kyle Valentineand Justin Robinson of Stream Realty represented the landlord, Bay Bluff LP.
Retail
Boot Barn has leased 13,000 square feet at FM 2920 at Texas 249 in Tomball. Matthew Keener and Rachel Farris with CBRE represented the tenant. Lunden McGill with Baker Katz represented the landlord, BK 2920.
DirectBuy of Houston North, owned by Tom and Elona Pope, has reopened in a 4,000-square-foot location in the Sam Moon Center at 17939 Interstate 45 North. The club was previously at 10646 W. Little York. DirectBuy is a buying club that allows members to purchase lifestyle products from manufacturers. The new club and showroom represents a sampling of the products such as furniture, cabinetry, flooring, appliances, electronics offered by DirectBuy and how they look in the home. A second location is planned in the southern part of Houston later this year.
Potbelly Sandwich has leased 2,664 square feet in the Parkway Village center at 13410 Briar Forest Drive. Scott Gardner with UCR represented the tenant. Jazz Hamilton, Alex Makris and Chris Bergmann with CBRE represented the landlord.
Urgent Clinics Medical Care has leased 3,000 square feet in Fairway Plaza Shopping Center at 5579 Fairmont Parkway. Kyle Knight and Yuri Bouharevich with the Commercial Retail Division of the Weitzman Group handled negotiations as exclusive representatives for Urgent Clinics Medical Care.
Etc.
Apartments
Mark-Dana Corp. has secured additional financing for the development of Kings Landing, a 327-unit apartment community at 331 Forest Center Drive in Kingwood. Due for completion in 2016, the property will be made up of 12 two- and three-story garden-style buildings with units averaging 989 square feet each and attached garages. The property will be on 12.6 acres along U.S. 59 between North Park Drive and Kingwood Drive. HFF, led by Colby Mueck, arranged $6.15 million in mezzanine financing through an affiliate of Prime Finance. Amegy Bank provided the senior construction loan. Based in Spring, Mark-Dana Corp. develops, builds and manages multifamily housing projects in Texas and Virginia.
Allied Orion Group has broken ground on The Beacon at Buffalo Pointe, a 281-unit apartment community at 10301 Buffalo Speedway just south of Loop 610 near the Texas Medical Center. Opening is targeted in early 2016. Designed by Steinberg Design Collaborative Architects, the property will offer floor plans from one to three bedrooms and feature gas ranges and dryers, granite countertops, stainless steel appliances, wood-style flooring, ceramic tile and upgraded carpet. Amenities include a resort-style pool, cabanas, grilling stations, landscaped courtyards, a state-of-the-art wellness/fitness center, clubhouse and cybercafe with Wi-Fi access.