Below are some recent office leases executed in the Houston market. All information was provided by the brokerages, tenants and HBJ research. Email deals to jjeffrey@bizjournals.com for future consideration.
SALES
A 114,474-square-foot office building in northwest Houston was sold to a subsidiary of Houston-based Interra Capital Group. Harris County Appraisal District records show the seller was Sun Life Assurance Co. Canada. York Centre is a four-story, multitenant office building located at 10235 West Little York Road. The building is situated on 5.35 acres at the corner of Hempstead Highway and West Little York Road. David Carter of Colliers International (NYSE: CIGI) represented the seller in the transaction. The buyer, Interra York Centre, represented itself.
Houston’s Hilltop Residential acquired a 291-unit multifamily complex in Katy called Grand Reserve. The community is situated on 14.44 acres along the Grand Parkway and consists of a mix of one-, two- and three-bedroom homes averaging 933 square feet. Chicago-based JLL (NYSE: JLL) helped Hilltop Residential secure acquisition financing, which consisted of a four-year, floating rate loan provided by an undisclosed bank. The JLL Capital Markets debt placement team representing the borrower was led by Managing Director Cortney Cole.
California-based private investment fund Redwood Property Investors III LLC bought the former Exterran Energy Solutions campus in northwest Houston. The nearly 32-acre property, at 12001 N. Houston Rosslyn Road, includes 301,127 square feet of industrial office and manufacturing buildings. Clay Pritchett and Zane Carman of NAI Partners represented Redwood, and Claude Anello with Hughes Watters Askanase LLP provided legal services to Redwood. JLL’s Mark Nicholas and Richard Quarles represented the seller, Exterran Energy Solutions LP. Redwood retained NAI Partners to market the property, which can accommodate tenants ranging from 13,000 square feet up to 301,000 square feet.
Switzerland-based Rhone Brittmoore Logistics purchased an industrial building formerly owned by Hamilton, Bermuda-based Nabors Drilling in northwest Houston. The building, which is located at 11330 Brittmoore Park Drive, comprises a total of 111,530 square feet of industrial office and manufacturing space, sitting on a 7.93-acre plot of land. Clay Pritchett and Zane Carman of NAI Partners represented Rhone Brittmoore Logistics in the transaction. Cushman & Wakefield’s Jeff Peden, Scott Miller and David Cook represented Nabors Drilling Technologies USA Inc. Additionally, Rone Brittmoore Logistics retained NAI Partners to market the property for lease. Spaces in the building range from 16,000 square feet to the entire building.
Houston-based Griffin Partners Inc. purchased the 130,223-square-foot Concourse at Westway, a two-story office building at 4700 West Sam Houston Parkway North in the West Belt Corridor. The 56 percent-leased building fronts Beltway 8. The seller, Denver-based EverWest, was represented by a team from JLL Capital Markets led by Managing Director Trent Agnew along with Kevin McConn and Marty Hogan, both of whom are senior directors at JLL. JLL Vice President Jack Russo and Executive Vice President Chrissy Wilson have been retained to lease the property. Janie Snider and Lee Moreland, executive vice presidents with Griffin Partners, will direct asset and property management for the property’s tenants.
Bay Area Plaza, a 72,569-square-foot retail center with flex industrial space, has sold to an undisclosed Houston-based buyer. The building was previously owned by Houston-based Orr Commercial Inc. Bay Area Plaza comprises 45,269 square feet of retail and 27,300 square feet of flex industrial space that includes research and development, as well as storage. The 98 percent-leased property’s tenants include Total Body Work, Samurai Steak & Sushi, Laser Booking Contouring Center, Lenny’s Sub Shop, Dapper Doughnuts, Pizza Hut and Amy’s Nails. JLL advised Orr Commercial on the deal. The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director Ryan West, Director John Indelli and Ethan Goldberg, an analyst with JLL.
A four-story office building at 397 N. Sam Houston Parkway has sold to an undisclosed buyer. The Class B property includes 68,000 square feet of rentable office space. The property sits on a 3.1-acre plot of land and also includes a three-story parking structure. The property is located near the interchange of Beltway 8 and Interstate 45. HCAD records show the building was previously owned by Alhambra, California-based Omni Bank. Houston’s LandPark Advisers was hired to position the building for sale by providing both property management and leasing services on behalf of the seller.
Houston-based KM Realty Investment Trust paid an undisclosed amount to acquire Morton & Fry Business Center from Reliant Commercial, which is also based in Houston. The 36,150-square-foot property is located at 19909, 19911 and 19915 Morton Road, near the intersection of Morton Road and Fry Road in West Houston. The fully occupied business park currently has 17 tenants.
LEASES
Sugar Land, Texas-based Wholesome Sweeteners has signed a lease for 349,050 square feet of industrial space at Victory Commerce Center. The new distribution and packaging facility is located at 2851 E. Pasadena Blvd. in Deer Park. Wholesome Sweeteners was represented by Ryan Fuselier and Carl Mueller of JLL. Jon Lindenberger, Walter Menuet and Paul Dominique of Colliers International represented the landlord, Dallas-based Crow Holdings Industrial, in the transaction.
Houston-based NCS Multistage Holdings Inc. is set to relocate its headquarters to Chasewood Crossing Three, at 19350 Highway 249, in northwest Houston. NCS signed a lease for 20,886 square feet on the top floor of the new six-story development. The relocation will see NCS Multistage move from its current location at 19450 State Highway 249 nearby. Kevin Saxe and Amber Wendt with CBRE represented NCS Multistage in the transaction. Brenda Pennington with Pennington Commercial Real Estate represented the owner, Greenwood Properties Inc.
OTHER
Houston-based Welcome Group is moving ahead with the development of two new industrial projects. The first, which is located at 2323 S. Sam Houston Parkway W., will be known as the Alameda building. It will offer a total of 23,104 square feet with 19,870 square feet of warehouse space and 3,234 square feet of two-story office space. The second building will be located at 4500 W. Greens Road and will offer a total of 42,596 square feet, consisting of 38,264 square feet of warehouse space and 4,332 square feet of office space. Each of the pre-finished, crane-ready buildings will offer 28-foot eave height and 12x14 overhead doors. Construction is being overseen by Houston’s KDW and is expected to be completed this year.