HOUSTON — New York City-based Axiom Capital Management has acquired a 60,000-square-foot office building located at 13111 Westheimer Road in Houston. Comerica Bank serves as the major tenant at the four-story, Class B property. Bill McGrath and Peter Wall of LandPark Advisors represented Axiom Capital Management, which will upgrade the building’s common areas, in the transaction. The seller was not disclosed.
PASADENA, TEXAS — Hobby Lobby will open a 47,768-square-foot store at Fairway Center, a retail property located at the intersection of Beltway 8 and Fairmont Parkway in Pasadena, an eastern suburb of Houston. Debbie Adams of EDGE Realty Partners represented the landlord in the lease negotiations. Scott Shillings of Riverway Retail represented Hobby Lobby.
MISSOURI CITY, TEXAS — Marcus & Millichap has brokered the sale of Knights Court, a 40,882-square-foot retail property in Missouri City, a southwestern suburb of Houston. James Bell and Watt Harrison of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity.
HOUSTON — Colliers International has brokered the sale of Center One, a 218,312-square-foot office building located at 9800 Centre Parkway in Houston. Built in 1983, the Class A property is located just south of Chinatown on the city’s southwest side, affording it proximity to Beltway 8 and Westpark Tollway. David Carter of Colliers represented the undisclosed seller in the transaction. Bill Oates of Captex Commercial Properties represented the buyer, Hrise LLC. The sale included a 3.5-acre surface parking lot located across the street.
BURLESON, TEXAS — Venture Commercial has negotiated the sale of McAlister Square, a 169,378-square-foot shopping center located at 12700 South Freeway in Burleson, a southern suburb of Fort Worth. Anchored by Academy Sports + Outdoors, the property’s tenant roster includes national retailers like FedEx Office, Verizon Wireless and Firehouse Subs. Jonathan Cooper, John Zikos and Don Miller of Venture Commercial represented the seller in the transaction. Kevin McIntosh of KMAC Group Inc. represented the buyer. Both parties requested anonymity.
HOUSTON — Charlotte-based multinational conglomerate Honeywell has signed a 114,068-square-foot office lease at CityWestPlace, a four-building office campus in Houston’s Westchase district that spans more than 1.4 million square feet. Amenities at the property include three dining outlets, two fitness centers and access to recreational facilities such as basketball and volleyball courts, a soccer field and an outdoor track. Honeywell, a Fortune 100 company, will assume occupancy of Building 1 for its primary base of operations in Houston beginning in late 2019. Rich Pancioli and John Morris of CBRE represented Honeywell in the lease negotiations. J.P. Hutcheson represented the landlord, office REIT Parkway Property Investments LLC, on an internal basis.
STAFFORD, TEXAS — NAI Partners has arranged a 67,000-square-foot industrial lease at 13125 Royal Drive in Stafford, a southwestern suburb of Houston. According to LoopNet Inc., the property was built in 1960 and is zoned for manufacturing uses. Nick Peterson of NAI Partners represented the tenant, Specialty TRP LLC, a Pennsylvania-based supplier of piping and tubing for the energy sector. John Ferruzzo and Ryan Searle, also with NAI Partners, represented the undisclosed landlord.
FORT WORTH, TEXAS — CityCentral, a Dallas-based coworking office concept, will open a 22,530-square-foot space at Cantey Hanger Plaza in downtown Fort Worth. The space, which is scheduled to open this fall and will be the company’s fourth in the metroplex, will offer more than 70 private offices, as well as meeting rooms and event spaces. Matthew Hickey and Kristin Grammar of TIG Real Estate Services represented CityCentral in the lease negotiations. Red Oak Realty represented the landlord.
AUSTIN, TEXAS — Miami-based balance sheet lender 3650 REIT has originated an $87.9 million construction loan for 48 East, a 33-story condominium project that will be located in the Rainey Street district of Austin. The property will feature 249 units ranging in size from 456 to 851 square feet. Amenities will include a rooftop pool, viewing deck and a fitness center. The borrower was a joint venture between Austin-based Pearlstone Partners and Miami-based Newgard Development Partners. Mike Guterman of Highland Realty Capital and John Ghiselli of Waterloo Real Estate Investments placed the nonrecourse loan, which carried a 75 percent loan-to-cost structure.
THE WOODLANDS, TEXAS — Wealth and human resources consulting firm Alight Solutions has signed a 180,000-square-foot office lease within The Woodlands, a master-planned community located north of Houston. The company’s new office space will offer access to walking trails and other outdoor amenities. The build-to-suit lease is for a building in The Woodlands that is currently under construction and is expected to be complete by spring 2020. Ronnie Deyo and David Bale of JLL represented Alight Solutions in the lease negotiations. Robert Parsley, Norm Munoz and Jillian Fredericks of Colliers International represented the landlord and developer, The Howard Hughes Corp.
