Category: News

Cushman & Wakefield represents JMB in Houston law firm lease at 1001 Fannin in Houston

Posted on by Mia Goulart

Cushman & Wakefield has arranged a 7,541-square-foot lease with Hogan Thompson Schuelke LLP at 1001 Fannin on behalf of JMB Realty Corporation.

Brad Beasley and Chip Colvill of Cushman & Wakefield represented the landlord in the lease negotiations. Joshua Brown and Kaitlyn Duffie of Newmark represented the tenant.

The 47-story LEED Gold certified tower includes 1.3 million square feet of flexible and efficient office space with eight corner offices per floor, 25,000 square feet of retail and amenity space, a tunnel-connected parking garage and a new fitness center.

HDA completes Mike Hopkins Distributing brand-infused addition and renovation in Brenham

Posted on by Mia Goulart

HDA Architects, the beverage wholesaler’s choice for facility needs across the U.S., recently completed a 28,000-square-foot expansion and renovation for Mike Hopkins Distributing in Brenham, Texas.

The expansion consists of a controlled temperature warehouse that includes offices and a customer pick-up area. The existing warehouse and coolers were also renovated with updated ancillary and storage areas and a new, enlarged keg cooler. A connector was designed to link the new and existing facilities and features an area to house equipment for charging purposes.

Construction for the addition used concrete insulated tilt-up walls with steel joists and a TPO membrane roof system. A large custom painted wall mural of the company’s logo is a prominent feature of the elevation as you approach the facility, instilling a sense of pride and brand identity to visitors and employees alike.

CenterSquare expands into manufactured housing sector through acquisition of Houston-based Piney Woods

Posted on by Mia Goulart

CenterSquare Investment Management, in a joint venture with K8H Ventures, has acquired Piney Woods, a to-be-built 394-lot manufactured housing community located in the Crosby submarket of Houston, Texas. The acquisition represents CenterSquare’s first private equity investment in the sector and was made via joint venture with K8H Ventures, an experienced, local manufactured housing operator that has a strong track record in the Houston market. 

The property’s central location allows it to benefit from adjacency to both the Port of Houston, which is experiencing significant growth and generating blue-collar jobs, as well as the thriving Lake Houston community. Piney Woods will help address the dilemma of cost-burdened renters who comprise half of this growing metropolitan hub by offering an affordable housing alternative for a market that is witnessing some of the highest population growth rates nationwide. Texas continues to lead the United States for annual manufactured housing shipments by state. 

The property will be built to Fannie Mae Level 4 and 5 Quality Rating Standards and will feature modern, new product, appealing to long-term renters seeking a home-like living experience at a reasonable cost. Piney Woods will offer an array of premium amenities including a swimming pool, basketball court, playground, walking trails and green spaces. 

CenterSquare has previously invested in manufactured housing through the firm’s listed real estate securities platform. This direct investment aligns with CenterSquare’s thesis of acquiring and/or creating communities that are fortified by strong secular tailwinds including the rising cost of home ownership, increasing demand for larger spaces and amenitized communities, and a limited inventory of affordable options located in high growth submarkets. 

The land is shovel ready, and lots will be developed over a 12-month period with completion scheduled for August 2024. The business plan calls for the completion of the horizontal site work and a robust pre-leasing marketing campaign to generate leasing velocity. 

Partners Real Estate arranges sale of Dollar General retail property in Fort Stockton

Posted on by Mia Goulart

Partners arranged the sale of an 8,000-square-foot Dollar General retail property located at 1001 West Dickinson Boulevard in Fort Stockton, Texas.

Partners’ Evan Altemus had the exclusive listing and represented the seller, a local investment group from Houston, following up on assisting them in the acquisition of the property a few years prior.  The buyers were an investment group, also from Houston.

Partners Real Estate arranges sale of 100,060-square-foot JCPenney retail property in Katy

Posted on by Mia Goulart

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged the sale of a 100,060-square-foot JCPenney retail building located at 23523 Grand Circle Boulevard in Katy, Texas.

Partners’ Dimitri Jordan represented the buyer in the transaction.

Northmarq completes sale of Dollar General building in Georgetown

Posted on by Mia Goulart

Jack Collins of Northmarq’s Chicago office completed the sale of a brand new, single-tenant property leased to Dollar General located at 1310 Westinghouse Road in Georgetown, Texas. Collins successfully closed the property at a 5.25% cap rate to a private investor.

The newly constructed freestanding Dollar General features 10,566 square feet situated on approximately 1.32 acres. The property is located just off Interstate 35 along the busy Westinghouse Road.

Georgetown, Texas, is a suburb less than 30 minutes from Austin and has been ranked as one of the fastest growing cities in the U.S. The tenant operates on a long-term absolute triple net lease and has proven to have one of the most successful business models in the net lease space.