HOUSTON — Gulf Coast Crating has signed a 135,285-square-foot industrial lease expansion near Port Houston. The provider of specialty packaging services originally occupied 432,316 square feet at Building 1 of Portside Logistics Center, a 1 million-square-foot development on the city’s southeast side. The deal for the additional space within Building 2 brings the development to full occupancy. Tyler Maner and Jeremy Lumbreras of Stream Realty Partners, which owns the property in a joint venture with Principal Asset Management, represented ownership in the lease negotiations. Patrick McKiernan of First Houston Properties represented the tenant.
HOUSTON — Mississippi-based developer EastGroup Properties is nearing completion of a 97,285-square-foot industrial project in West Houston. The building is the second of six planned structures within Grand West Crossing and will feature speculative office space, double-row parking, 28-foot clear heights and an ESFR sprinkler system. Suites within the building are divisible to 9,500 square feet. Completion is slated for the summer. JLL is marketing Grand West Crossing for lease.
PASADENA, TEXAS — EDGE Capital Markets has arranged the sale of The Market at Crenshaw, a 37,103-square-foot retail strip center in Pasadena, an eastern suburb of Houston. Shadow-anchored by Academy Sports + Outdoors and Burlington, the center was 77 percent leased at the time of sale to a mix of national and local tenants. Kevin Holland and Britton Holland of EDGE represented the undisclosed seller in the transaction. The buyer was a national investor that also requested anonymity.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 29,667-square-foot industrial lease in northwest Houston. The tenant is Falcon View Energy Products, which supports upstream oil and gas operations. The space spans two buildings within Four Seasons Business Park, which consists of 16 buildings totaling 205,332 square feet on a 16-acre site. Christian Villarreal of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was self-represented.
HUMBLE, TEXAS — A joint venture between Memphis-based investment firm Fogelman Properties and Dallas-based Thackeray Partners has acquired Advenir at Eagle Creek, a 258-unit multifamily property located in the northern Houston suburb of Humble. Built in 2008, the property offers one-, two- and three-bedroom apartments. Amenities include a pool, game room, clubhouse, fitness center and a dog park. The property was 91 percent occupied at the time of sale. The new ownership plans to upgrade unit interiors, amenity areas and landscaping and has rebranded the property as The Fenwick. The seller and sales price were not disclosed.
DONNA AND MCALLEN, TEXAS — Houston-based brokerage firm Baker Katz has arranged two restaurant leases in South Texas for Cheddar’s Scratch Kitchen. The first deal is for a 6,142-square-foot space in Donna, and the second deal is for a restaurant within Trenton North Shopping Center in McAllen. Brian Smith of Merit Commercial Real Estate represented the landlord in the Donna transaction, and Louie Tijernia of CBRE represented the landlord in the McAllen transaction. Jason Baker and Traci Holman of Baker Katz represented the parent company and operator, Orlando-based Darden Restaurants Inc. The openings are slated for the third and fourth quarter, respectively.
PLANO, TEXAS — Simpson Strong-Tie, a provider of engineered structural connectors and building solutions, has signed a 38,372-square-foot office lease at Granite Park in Plano. The space spans one full floor and half of another within Granite Park 6, a 19-story, 422,109-square-foot building that was completed in late 2023. Doug Carignan, Christy Rhea and Ryan DeAngelis of CBRE represented the tenant in the lease negotiations. Robert Jimenez, Burson Holman and Elizabeth Fortado represented the landlord, Granite Properties, on an internal basis.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 23,625-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant, crane-served building at 7214 Harms Road was originally constructed in 2014. The building includes 2,400 square feet of office space. Jason Gibbons, Jack Gaffney and William Alcorn of Finial represented the undisclosed landlord in the lease negotiations. The tenant is railcar manufacturer CAF USA Inc.
GRAPEVINE, TEXAS — Charlotte-based investment firm Flagship Healthcare Properties has purchased a 17,724-square-foot medical facility in Grapevine, located in the northern-central part of the metroplex. The building at 2201 Westgate Plaza was built in 2010 and houses clinical office space and a surgery center with eight exam rooms and two operating rooms. The facility was fully leased at the time of sale. The seller and sales price were not disclosed.
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Morgan Properties Acquires 11-Property Midwest Multifamily Portfolio for $501M
CONSHOHOCKEN, PA. — Morgan Properties has acquired a portfolio of 3,054 apartment units across 11 communities in eight states. Chicago-based Trilogy Real Estate Group was the seller in the deal, which was valued at $501 million. The communities — which are located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma and Tennessee — were built between 1989 and 2018. Adam Doneger and Josh King of Newmark brokered the sale of 10 of the communities in the portfolio, while Walker & Dunlop brokered the sale of one property. Morgan Properties states that the firm plans to implement a value-add strategy to increase the marketability and comfort of the properties. Interior upgrades will include the installation of new flooring, appliances, cabinets and countertops, as well as smart home features. The new owner will also expand and refresh the onsite amenities. The acquisition expands Morgan Properties’ apartment holdings to more than 100,000 units across the nation. The Conshohocken-based development and investment firm now owns and operates roughly 360 communities in 22 states. “As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment,” said Jonathan Morgan and Jason Morgan, co-presidents of Morgan Properties. “Morgan Properties has a proven …