Category: Southeast Texas

Stream Realty Partners Awarded Leasing of Million Square-foot Office Portfolio

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Woodbranch Management has selected Stream Realty Partners’ Houston office leasing team as the exclusive leasing partner for its 1.1-million-square-foot, six-building Houston office portfolio. The portfolio includes four buildings in the Westchase submarket—9800 Richmond Avenue, 3100 S Gessner Road, 11000 Richmond Avenue and the 21-floor Millennium Tower, located at 10375 Richmond Avenue, which is currently undergoing significant renovations. Additional properties, located in the Galleria submarket, include 1775 St. James Place and 4265 San Felipe Street, which will also receive large-scale renovations. “This portfolio includes some of Houston’s best properties for office leasing and we are proud to put them in the experienced hands of Stream Realty Partners,” said Philip Schneidau, Woodbranch Management. Millennium Tower’s renovations are expected to be complete by the fourth quarter of 2020. They include a major lobby renovation, granite paneling in all 21 elevator lobbies, modern executive conference rooms and a state-of-the-art tenant lounge. High-speed internet access will be incorporated into every office through several providers, enabling tenants to choose which service best suits them. Updates to San Felipe will include a redesigned lobby, with floor to ceiling vertical LED lights, a touch screen directory, modern marble walls and floors and new glass doors. Additionally, the lobby will have access to the breezeway, which will undergo renovations such as new LED down lights, flat white ceiling tile, white marble garage elevators, and modern sconce lighting for visitor parking. “We are excited to have the opportunity to work with Woodbranch on the successful lease-up of these prominent buildings,” said Ryan Barbles, managing director for Stream. “The combination of all six properties, and the renovations to come, make any building in the Woodbranch portfolio an attractive option for tenants looking for a modern space that serves their business needs.” Stream’s office leasing team of senior vice president Brad Fricks, vice presidents Craig McKenna and Mat Volz, senior associates Adam Ross and Matt Asvestas, and associate Elliot Collie will serve as leasing agents for the six properties.

Transwestern Brings Park 288 in Houston to Full Occupancy

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The Methodist Hospital, known as Houston Methodist, signed a new 18,825-square-foot lease in Park 288 at 3710 Reed Road in Houston, bringing the business park to 100 percent occupancy. Transwestern Real Estate Services (TRS) and Colliers International brokered the deal. Jude Filippone of Transwestern provided agency leasing services on behalf of the landlord. Coy Davidson of Colliers International represented the tenant. “Park 288 continues to outperform the market given its infill-location, excellent visibility to Highway 288, responsive sponsorship, and excellent access to the Houston Medical Center, Central Business District, Loop 610 and Beltway 8,” said Filippone. “Given the current challenging market conditions, we are excited to have secured a strong tenant in Houston Methodist and bring this asset to 100 percent leased.” Located at the epicenter of Houston’s south/southeast growth corridor, Park 288 is a five-building, Class A industrial park totaling 556,638 square feet. The project has a highly functional and attractive design that combines optimum tenant functionality with maximum long-term flexibility. All the buildings have glass storefront entries, abundant parking, wide truck courts, and visibility and direct access to Highway 288.

Constructing Tomorrow’s Buildings: Expect an Explosion in Modular Design

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Next year, a new Hyatt Place Hotel will rise in Waco, Texas. Though it will have all of the typical amenities and features of a modern, new construction hotel, it’s what the guests won’t ever see that will be truly groundbreaking. The project is using the latest evolution in modular design and construction. This process has grown in maturity over the years, with recent innovations that endow tremendous time and cost advantages. The Waco Hyatt project, for instance, will be constructed almost entirely off site, in the fabrication facility that ModularDesign+ operates in Euless, Texas. A strategic partner of global architecture firm CannonDesign, ModularDesign+ hopes to change the way that owners, developers, architects and contractors think about modular construction. The 110-room, eight-story Hyatt Place Hotel Waco, designed by MWT Architects, will feature both rooftop and ground-level restaurants, a shopping center and a parking garage—all of which will be fabricated in Euless. Once completed, 140 stackable units will be shipped over the course of only three to four weeks to their final destination in Waco. That’s the largest incentive that modular offers: speed to market. The quicker that an owner or developer can begin generating revenue on a space, the better. Click to read more at www.rednews.com.

Levy Group Sells Land at Northwest Place Industrial Park II

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HOUSTON – October 28, 2020 – Levey Group, a commercial real estate investment and development company, has sold 1.42 acres fronting on North Houston Rosslyn for future retail development to Rosslyn Retail Development, LLC out of Northwest Place Industrial Park II (NWP2). NWP2 is Levey’s Class-A, master-planned, 8-acre business park in Houston’s prime, near northwest submarket. The park’s private drive interconnects West Little York Road, and North Houston Rosslyn providing convenient truck ingress and egress. The park currently features one 64,850-square-foot building that has 36,350 square feet available for lease. The building features attractive storefront entrances, 32’ clear height, dock-high loading and grade-level access ramps. In addition, there is a 2-acre parcel fronting on West Little York Road with all utilities directly to the site available for sale or build to suit.

LEVEY GROUP
Levey Group is a commercial real estate investment and development company. Clients include companies needing office, manufacturing, laboratory, warehouse and distribution space in Houston and the surrounding areas. For more information, please visit the company’s website at www.leveygroup.com.

CONTACT
Levey Group
David Ebro
713-772-1393
info@leveygroup.com

Plano Office Project is One of the Few Groundbreakings During the Pandemic

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Primera Cos.’ new building will open next September.

The Town Square II building is being constructed near the southwest corner of Preston Road and S.H. 121 (O’Brien Architects.) Developers have broken ground on a Plano office building — one of the few such projects moving ahead during the pandemic. Primera Cos. is building its Towne Square II offices near the southwest corner of State Highway 121 and Preston Road. The 80,000-square-foot building will join a similar project the developer completed three years ago. “This deal has been in the works for the last year,” said Primera Cos.’ Randy Sutton. “The land behind our existing building was going to be used for a hotel. “That project fell through, and we purchased the property.” The new project is designed for small tenants. “Our niche is the office suites are all pre-finished — move-in ready,” Sutton said. The planned two dozen office suites will range in size from about 2,000 to 5,000 square feet. The building will also have two shared conference rooms. “The suites in the new building on average are a little bigger,” Sutton said. “We are trying to retrofit for today’s environment — touchless elevators, automatic doors and clean air that we think is going to be important.” O’Brien Architects designed the new building, which is planned to open next September. Sutton said the company was encouraged to forge ahead with the project, even with the impacts of COVID-19. “Our portfolio is a mixed bag of industrial and office space,” he said. “We’ve had to work with some tenants, but overall it really hasn’t hit us extremely hard. “We still see a lot of people coming in and looking at space, and we are signing new leases,” Sutton said. “If we have something ready, tenants can move in.” Town Square II is the second Plano office project to start construction in the last couple of weeks. Developer Cawley Partners just broke ground for a 120,000-square-foot building on the Dallas North Tollway near Windhaven Drive. The Parkwood building will house First United Bank’s mortgage company. While some office project starts have been paused because of the pandemic, about 6 million square feet of office space is currently under construction in Dallas-Fort Worth.

Wolff Companies Announces Significant Access Improvements to U.S. 290, Plans for Waller County Mixed-Use Residential and Commercial Community

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(Houston, TX – October 27, 2020) Wolff Companies announced today during a virtual groundbreaking event for its latest mixed-use residential and commercial community, Beacon Hill, that it has received approval from the Texas Department of Transportation to create significant access improvements to U.S. 290.

According to the agreement, the access improvements will include:
• an off-ramp for a new 290 interchange, named Beacon Hill Boulevard, located west of FM 362;
• a mile-long U.S. 290 frontage road, connecting Beacon Hill Boulevard to James R. Muse Parkway;
• an auxiliary lane from the entrance ramp from FM 362 to the Beacon Hill exit; and
• a U-turn under U.S. 290 at James R. Muse Parkway, to aid traffic flow from Beacon Hill toward Houston.

“We are excited to announce the planned improvements to US 290 in Waller County,” said Eliza Paul, P.E., Houston District Engineer for the Texas Department of Transportation. “The interchange will serve not only Beacon Hill but also the surrounding community, improving traffic mobility between FM 362 and James R. Muse Parkway. It will also create a significant economic benefit, providing access to large tracts of land for development, and in turn stimulating significant future job opportunities, residential alternatives, and tax revenues to both the City of Waller and Waller County. TxDOT is glad to be a partner in the development of these access improvements with Wolff Companies, Waller County and MUD #33.” Beacon Hill Boulevard is expected to be completed in September 2021. The construction on the interchange is expected to start in spring 2022 and be completed in 2023. The project will be funded through a public-private partnership between Wolff Companies, TXDOT and the Beacon Hill Municipal Utility District (Waller County MUD #33), with Wolff Companies providing the majority of the capital as well as the right-of-way for the project. Beacon Hill, located on 521 acres, directly on the north side of U.S. 290, between FM 362 and James R. Muse Parkway, continues Wolff Companies’ long history of creating master-planned, mixed-used developments along emerging freeway corridors. The property’s elevation approaches 300 feet, making it one of the highest points in the Houston metro area. With almost 4,200 feet of frontage on U.S. 290, the development will feature a business park on the 251 acres abutting the freeway with uses ranging from light industrial and distribution to office, multifamily and retail, all supported by utilities and services from the City of Waller. The property is shovel-ready, with storm water detention and drainage, trunk water lines, trunk sanitary sewer and a lift station as well as electrical lines already in place, representing an $8 million investment in the property. “The availability of large tracts of land, the quality of the local school district, crucial access to utilities and improved mobility have placed Waller County in the path of growth, not unlike the opportunity we saw years ago along I-10 in The Energy Corridor,” said David S. Wolff, Chairman and President of Wolff Companies. “We expect the pace of development in the area will increase steadily now that U.S. 290 construction is complete and as we introduce new commercial sites in Beacon Hill.” The company also announced that the northernmost 270 acres of the tract have been purchased by Long Lake Ltd. to develop a master-planned residential community featuring approximately 870 houses. Priced from the low $200s to the mid-$400s, a wide variety of homes will be available from four distinct design series offered by Long Lake, including multiple floor plans and elevation options, allowing homeowners to fully customize their home plans to create their ideal living environment. Model homes will be open and the first residential deliveries are anticipated for the first quarter of 2021. The community will also feature 30 acres of green recreational spaces, including ponds and miles of paved trails as well as a community recreation center. “Beacon Hill will fill a housing void in the area, bringing convenient, quality, affordable living options to the faculty and staff of Prairie View A&M as well as the many employees of the burgeoning businesses in Northern Waller County,” said Craig Jones, CEO of Long Lake, Ltd. “The population served by this neighborhood will deliver valuable tax revenue for the county and city.” Waller County and the surrounding area have been undergoing steady industrial and residential growth over the last few years. The low cost and availability of land near an intersection of two major highways have placed it firmly on the map for developers and manufacturers, attracting investment from companies such as Japan-based Daikin, the world’s largest manufacturer of heating, cooling and ventilation equipment, which built the nation’s second largest manufacturing plant in Waller. Additionally, the completion of the Grand Parkway’s Segment E in 2013, which extends north from I-10 to U.S. 290, has made Waller more attractive to a future workforce. The long-awaited completion of 290 construction has further reduced commuter drive times and opened up the area for development, including residential, industrial and distribution uses.

About Wolff Companies
For 50 years, Wolff Companies has been a leader in developing master-planned, mixed-use business communities in the Houston area. The company’s developments include: Beltway; Park 10; Interwood; Westway Park; First Crossing; Ten Oaks at the Texas Medical Center – West Campus; Central Park; and Beacon Hill. The American Society of Landscape Architects, Scenic Houston, Keep America Beautiful, the American Institute of Architects and the Municipal Art Commission have all recognized Wolff Companies’ developments for enhancing and preserving the natural beauty of land, while meeting the ever-changing needs of business. For more information, www.wolffcompanies.com.

About Long Lake Ltd.
Long Lake, Ltd. is Houston’s largest primary privately owned homebuilder. Its seasoned leadership team boasts more than 150 years of combined experience in the industry. Since its inception in 1997, the company has delivered more than 24,000 new homes ranging from the upper $100s to the $400s in more than 30 communities across the Houston Metro area. For more information on Long Lake, Ltd. or Woodmere Development, visit www.LongLakeLTD.com. To join the VIP interest list or for information regarding Beacon Hill or any Long Lake, Ltd. communities, email info@longlakeltd.com.