Partners Capital—the investment arm of NAI Partners—has sold Spring Park Village, a retail property located in Spring, Texas. Terms of the transaction were not disclosed. Partners Capital’s Fund I originally acquired Spring Park Village in 2017. The property consisted of two buildings leased to a diverse roster of tenants, including American Freight, Conn’s Appliances, AT&T and Starbucks, and also included a two-acre land pad for future development. “After negotiating a long-term renewal with Starbucks and leasing the remaining vacancy, we divested the smaller building located in the front of the property two years ago,” said Andrew Pappas, head of Partners Capital. “This summer, we secured an early renewal for the Sears Outlet store—which was recently acquired by Liberty Tax and rebranded as American Freight—and subsequently sold the large building and the development pad site to a local Houston investor.” The sale of Spring Park Village represents Partners Capital’s fifteenth deal overall since its launch in 2015. It’s been a busy several months for Partners Capital, which recently announced a rebrand to Partners Capital from the NAI Investment Fund earlier in October, announced the acquisition of The Trails at 620 retail property in Austin, Texas and retail center Blanco Crossing in Blanco, Texas; and launched Partners Investment Fund IV, the entity’s fourth commercial real estate investment vehicle. The Partners Capital team is looking to raise at least $50 million in equity in order to continue its success in identifying and acquiring high-quality office, industrial, and retail assets in attractive markets.

Cadence Bank has signed a long-term, 82,215-square-foot lease at Park Towers at 1333 W. Loop S. in Houston’s Uptown submarket. Transwestern Real Estate Services brokered the deal on behalf of the landlord, Regent Properties, with CBRE representing Cadence. Transwestern managing director Doug Little, executive vice president David Baker, vice president Kelli Gault and associate Jack Scharnberg provided agency leasing services on behalf of Regent Properties. CBRE’s Weldon Martin and Jon Lee represented the tenant. “Our focus at Regent Properties and specifically at Park Towers is always on delivering the best-in-class amenities coupled with a tenant experience that employees value,” said Matthew Benbassat, chief operating officer at Regent Properties. “When a tenant as prominent as Cadence Bank recognizes our commitment and selects our project, we can’t think of any greater compliment we can receive as an operator of first-class campuses.” Park Towers is a Class A, 545,242-square-foot office property comprised of two 272,621-square-foot buildings with 18 stories. The space boasts two high-performance fitness facilities, tech-savvy conference center, in-building dining, tenant lounge with state-of-the-art golf simulator, bike storage and Amazon Lockers. Additionally, a drive-through coffee destination is being developed with a nationally recognized provider. The location is abundant with walkable amenities at the nearby Uptown Park shopping center and has excellent proximity and a paved walkway to Memorial Park. Economic value, location and building signage and visibility attributed greatly to the tenant’s decision to lease the space. The tenant’s holding company, Cadence Bancorporation, will also be relocating their headquarters to occupy the new space at Park Towers. “Our strategic decision to move to Park Towers offers us enhanced efficiencies, more opportunities for collaboration, greater visibility and cost savings,” said Paul B. Murphy Jr., chairman and CEO of Cadence Bancorporation. “With this move, we’ll embrace a more dynamic and agile office, giving our associates more flexibility in how they work and fostering teamwork with more collaborative spaces, both formal and informal. The new space will be much more reflective of our culture at Cadence.”

14800 Jersey Shore Drive, LLC recently sold its former industrial campus in Pearland, Texas at 320, 322 and 324 Riley Road which consisted of approximately 105,664 square feet between three industrial buildings on over 32 acres of combine land area. BHVA Real Estate Holdings, LLC acquired the property for an undisclosed sum. Clay Pritchett, SIOR and Zane Carman, of NAI Partners represented 14800 Jersey Shore Drive, LLC on the sale transaction while Matt Rogers with Oxford Partners represented the buyer, BHVA Real Estate Holdings, LLC.

Stonelake Capital Partners, a real estate private equity firm with offices in Houston, Dallas and Austin, has executed a long-term lease with JLL for 81,999 square feet at 200 Park Place, a 15-story, 210,000-square-foot Class-AA office building located at 4200 Westheimer Road within the Park Place | River Oaks development. Located in the Galleria area, the new luxury office building will feature JLL’s company name and logo on top. JLL’s property management team is also managing the property. The new office will consolidate JLL’s Houston offices and several business lines in one location. “This consolidation keeps us ahead of our ever-expanding clients’ needs and continues to foster JLL’s core value of teamwork,” said Dan Bellow, president – Houston, JLL. “I am excited about this move and believe that this physical integration of all our business lines will benefit both employees and clients as we work together to provide expert advisory services and client-focused solutions for the full range of real estate needs.” JLL executive vice president Ronnie Deyo and senior vice president Beau Bellow represented JLL in the lease negotiation. Stonelake principal William Peeples represented the property ownership. “We are thrilled that JLL has chosen 200 Park Place as its new Houston headquarters,” said Peeples. “When we set out to design 200 Park Place, a tenant like JLL is exactly who we had in mind—name brand recognition, strong emphasis on company culture, a dedication to their employees and clients and an appreciation for quality.” JLL will occupy three floors of modern innovative workspace, which will feature a beautiful open three-story staircase for easy connection between floors. The amenity-rich facility is conveniently located with plenty of residential and retail options nearby and offers easy walkability to the River Oaks District and Highland Village. “Stonelake and their team delivered a beautiful building that provides JLL a modern workplace while also achieving a timeless design,” said Bellow. “200 Park Place is a building we are proud to have our name on top of.” JLL’s Project and Development Services is managing the buildout of the new workspace utilizing the firm’s (Re)imagine strategies and best practices to support the health and well-being of their employees. Private offices and workstations will be laid out and designed with a certain level of distancing and boundaries in mind by using storage towers and cabinets. Breakrooms will be designed with larger proportions in order to expand the areas where people congregate. “Within the same space, you can connect together or separately,” said Bellow. “This will be a place where you can live and celebrate the company’s values and culture—a place to collaborate and share in order to build social capital. The main idea is to design a space that provides balance, options, choice and control over how employees want to work on a given day.” 200 Park Place, Stonelake’s third phase of Park Place | River Oaks, was substantially completed in April 2020 and is now more than 65 percent leased. The “flight to quality” trend is apparent at 200 Park Place as companies look to improve the efficiency and quality of their office space. Announced tenants at 200 Park Place include JLL, Charles Schwab, Compass Real Estate, Veritas Title Partners, and Stonelake, the building’s developer and owner. JLL is expected to take occupancy in summer 2021.

Martin Preferred Foods, L.P., a local leader in food distribution and processing for 75 years, has renewed 73,586 SF of space at 2017 White Street. The landlord, Prologis, was represented by Ryan Patronella. The tenant was represented by Mark Kidd, Sr. and Mark Kidd, Jr. of M Kidd Properties, Inc.