This Week's Houston Deal Sheet (June 6, 2023)

The Woodlands Resort Curio Collection by Hilton finished its $26M renovation, led by Dallas-based design firm Merriman Anderson Architects.

The resort's 402 rooms and suites have redesigned showers, new mattresses and bedding, plush carpeting and 55-inch TVs. The suites have sleeper sofas to better accommodate families and groups.

The Woodlands Resort also significantly refreshed its meeting and event spaces, which come to a combined 75K SF.

The resort expanded its dining options to include five food and beverage outlets, three of which are a result of the renovation. Lakeside restaurant Harrison's, boasting a seating capacity of 216 and a wraparound patio, serves breakfast and lunch.

The Spruce Market, a new café dining option for morning coffee or a quick bite, will soon be complemented by a 775 SF retail boutique offering a selection of snacks and sundries, artwork by Faulkner + Locke, plus gifts and accessories. A 1K SF lobby bar is also nearing completion.

That trio joins Back Table Kitchen & Bar, where cocktails and Southern-inspired fare are served indoors or on the patio overlooking the 18th hole of the Panther Trail Course, and Cool Water Bar & Grill, which services the resort's Forest Oasis Waterpark.

Resort amenities include a tennis center with 21 courts, a Peloton-equipped fitness center, pickleball, yoga, seasonal family programming, in-room spa offerings, and bike and kayak rentals.

PEOPLE

SVN | J. Beard Real Estate – Greater Houston hired Gabe Chalot and Jackie Prosch as associate advisers for the commercial real estate firm.

Chalot specializes in leasing and selling industrial properties across the greater Houston area. He is also engaged in land sales, retail sales and tenant representation.

Prosch is experienced in leasing, acquisition and disposition across a wide range of commercial asset types. She is an active member of Business Network International and the vice president of her chapter.

LEASES

The University of St. Thomas – Carol and Odis Peavy School of Nursing signed a lease in Tanglewood Property Group's Commerce Green One, a 111K SF, five-story property at 14090 Southwest Freeway in Sugar Land. Chad Gunter and Ashley Cassel Byrd with Transwestern represented the tenant in the 22K SF lease. Dean Wilkens and Ashley Wensrich with TPG represented the landlord.

TPG will help the university open its new doors in a few months. As a part of TPG's ongoing capital improvement program, the owner is renovating the building's main lobby, with completion scheduled for July.

SALES

Blue Vista Capital Management announced the close of its acquisition of the Techniplex Business Center, a two-building, 78K SF flex industrial site outside of Houston in partnership with Rycore Capital, a Houston-based real estate operator.

The Techniplex Business Center is 20 miles from downtown Houston and consists of two one-story buildings with flex industrial space. One of the buildings offers an 18-foot clear height and dock-high loading and industrial space. The second building offers laboratory, research and development, and industrial space, as well as a 12-foot clear height and grade-level doors. The site is in Houston's northwest submarket. The majority of the square footage is triple-net-leased to multiple tenants.

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Partners Real Estate arranged the sale of a 43K SF fabrication and distribution building at 4725 Lawndale St. in La Marque.

Partners’ Cary Latham and Wyatt Huff represented the seller, Baucom Property Leasing. Anthony Heins of Heins Properties represented the buyer, Wolf Capital Partners.

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Partners Real Estate arranged the sale of a 10K SF industrial building at 14720 Lee Road in Humble. Partners’ Chris Caudill and Devin Hawkins represented the buyer, Franklin Machine & Gear Corp. Patrick Wolford with Lee & Associates represented the seller.

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Transwestern's Southwest Texas Industrial team brokered the sale of a 206K SF bulk distribution warehouse at 1202 FM 1960 in North Houston. John Ferruzzo, Nick Peterson and Matthew Morrison represented the seller, Vigavi Realty, which developed the new Class-A spec building.

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Lone Star Community Health Center Inc. sold 2.3 acres at the intersection of the Interstate 45 access road and Lincoln Ridge in Willis to Cross Development CC Willis. Kevin Sims and Nick Ramsey of NewQuest Properties represented the seller. Preston Wolfe of Independence Commercial Real Estate represented the buyer.

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Montgomery County Emergency Services District No. 10 closed on the purchase of two properties in Magnolia that will help the district meet the needs of its growing community. Properties purchased are at 310 Honea Egypt Road and 31353 Dobbin Huffsmith Road.

The Honea Egypt Road location will serve as the new home of Magnolia Fire Department Station 186, replacing the fire station at 32707 FM 2978. The new Station 186 will be less than a mile from its current location. Construction of the station is expected to begin in 2024. The property is 2.685 acres and was purchased for $2.5M. The new station will be built to shorten response times, expand station operations and improve safe living quarters for firefighters.

The 8.2-acre property at 31353 Dobbin Huffsmith Road was purchased by ESD 10 for $1.1M. ESD 10 acquired the land to serve future residential and commercial growth expected in the area. The Dobbin Huffsmith Road site will add a new fire station for Magnolia Fire Department to respond to future needs. A timeline for the construction of the additional station hasn't been established.

CONSTRUCTION & DEVELOPMENT

Quannah Partners acquired 10.7 acres for the speculative industrial development of a Class-A 152K SF, front-load, shallow-bay industrial building in Houston. This marks the fourth ground-up industrial development in Texas for Quannah Partners and the second in the Houston market.

The development at 6311 Rankin Road in Houston will be a single front-load industrial building featuring a 32-foot clear height, Early Suppression, Fast Response sprinklers, 30 dock-high doors, energy-efficient roofing and window materials, and a 185-foot truck court, including 39 trailer parks and security fencing with access gates. The building has been designed to accommodate tenants requiring 50K SF to 152K SF.

The property offers direct access to major highways and regional corridors and abuts George Bush Intercontinental Airport.

The team includes Wintrust Bank as the construction lender, Rosenberger Construction as the general contractor and Lee & Associates as the exclusive leasing broker. Patrick Wolford is handling leasing.