General Services Administration GSA (FEMA) leased 17,167 square feet at 616 FM 1960 in Houston, TX. Thomas Emde represented the landlord, Hartman Income REIT.

JLL Capital Markets has closed the sale of and arranged acquisition financing for Wood Ridge Plaza, a 211,218-square-foot, value-add retail strip center anchored by a popular tenant lineup in The Woodlands community within the Houston, Texas.

JLL marketed the property on behalf of the seller, a real estate fund advised by Crow Holdings Capital. DLC Management Corp. acquired the asset in its first Houston acquisition. Additionally, working on behalf of the new owner, JLL secured the three-year, floating-rate, non-recourse acquisition loan.

Built in 1975, Wood Ridge Plaza has been renovated throughout the years and comprises five buildings. The 88.1-percent-leased center is home to a strong lineup of national, regional and local tenants, including Federal American Grill, Kirkland’s, Home Consignment Center, Pappas Bar-B-Q, Skechers, Spec’s, Chair King and Office Depot.

Wood Ridge Plaza is positioned on 19.56 acres in Oak Ridge 27 miles north of Houston’s Central Business District. This location along Interstate 45, the primary north-south thoroughfare for the city, exposes the property to 251,129 vehicles per day. The center is in a superior retail trade area across Interstate 45 from The Woodlands Mall, a dominant mall within the Houston MSA, and surrounded by new development in The Woodlands, Houston’s most successful master-planned community. The center serves an affluent and growing trade area that includes more than 166,000 residents with an average annual household income of $147,783 within a five-mile radius.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Rusty Tamlyn and Analyst Ethan Goldberg.

The JLL Capital Markets Debt Advisory team included Managing Director Cameron Cureton and Analyst Jack Britton.

JLL Capital Markets has closed the sale of Champions Village Shopping Center, a 383,346-square-foot retail power center anchored by Randalls in Houston, Texas.

JLL marketed the property on behalf of the seller, New Market Properties, LLC, a wholly owned indirect subsidiary of Preferred Apartment Communities, Inc. First National Realty Partners acquired the asset.

Champions Village Shopping Center is anchored by Randalls, which attracts more than 550,000 visitors per year and is a subsidiary of Albertsons, the third largest grocery chain in the U.S. The remaining tenancy comprises a dedicated roster with a collective weighted average tenure of 21 years, including Barnes & Noble, T.J.Maxx, Tuesday Morning, La Madeleine, Don Ramons Mexican Restaurant, Kirklands, Jenny Craig, Super Cuts, Bath and Body Works, Body & Brain Yoga, Berkeley Eye Center, Cassandra’s Louisiana Kitchen and MOD Pizza.

Positioned on 31.9 acres at 5215 FM 1960 Road W, Champions Village Shopping Center is within the northwest Houston area known as Champions, which has grown by 10.5 percent within a five-mile radius over the last decade. This property represents one of the largest and best located urban infill sites in the market and is highly visible, with more than 58,000 vehicles passing daily. The center is also in a dense residential area housing 106,417 residents and only two traditional full-service grocers within a three-mile radius.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West, Vice President Sherri Rollins and Analyst Ethan Goldberg.

According to JLL Research’s recently released Grocery Tracker 2022 report, 2021 was a record year for grocery-anchored retail property transactions, with 735 total trades. Acquisition volume for the year was just over $13.3 billion, the largest share of any retail property type for the third year in a row and the second-highest level in recorded history.

HOUSTON, TX – April 12, 2022 – Four Houston heavy-hitters will continue to call Riverway home for the next several years thanks to Stream Realty Partners.

Stream, a national real estate services, development, and investment company, worked with representatives for Northwestern Mutual, Martin Resource Management Company, ABGi, and Marcus & Millichap to renew their leases at two Class A office towers in Houston’s prestigious Galleria submarket. ABGi and Marcus & Millichap not only renewed but expanded their leases.

“One and Three Riverway provide Houston tenants the best value in the city,” said Brad Fricks, Senior Vice President of Stream Realty Partners. “The ownership has completely renovated the buildings and amenities. Their unwavering commitment to getting the buildings leased offers tenants incredible office opportunities.”

“We are pleased with Stream Realty Partners’ ability to both renew existing and attract new tenants to the One and Three Riverway office buildings,” said Raymond Levy, Managing Principal at Unilev. “The combination of their excellent marketing skills, ownership’s full renovation of the buildings, and recently added amenities has allowed us to continue to attract and retain top-quality tenants.”

Financial services company Northwestern Mutual has renewed its lease for 41,556 square feet, spanning two floors of One Riverway. Anthony Fritsche and David Anderson of Fritsche Anderson Realty Partners, LLC represented the client.

Martin Resource Management Corporation, an independent provider of marketing and logistics management for petroleum products, renewed its lease at Three Riverway for 21,935 square feet. Don Foster and Samuel Slovacek of JLL represented Martin Resource Management.

Tax consultant ABGi renewed and expanded its lease by over 12,000 square feet, bringing its total office space to 18,967 square feet, a full floor at One Riverway. Evan Roland represented ABGi in the transaction.

In addition, Marcus & Millichap, a commercial real estate sales, financing, research, and advisory services firm, also renewed and expanded its lease. The investment sales brokerage and capital markets advisory now occupies 14,400 square feet of office space at Three Riverway. Carlo Brignardello of Cresa represented Marcus & Millichap.

One and Three Riverway are on the north side of the Galleria with unbeatable access to Downtown and proximity to some of the most prestigious neighborhoods in Houston. Both One Riverway and Three Riverway underwent extensive renovations in 2020, offering sweeping views and outdoor terraces, tech-forward conference spaces, state-of-the-art fitness centers, on-site cafés, and ample parking.

Fricks, Vice President Matt Asvestas, and Associate Danielle Rothchild of Stream Houston are the landlord representatives at One and Three Riverway.

Securranty renewed 4,313 square feet at 15995 N. Barkers Landing Road in Houston, TX. Kacie Skeen represented the landlord, Hartman Income REIT.

(April 6, 2022) — The Board of Directors of the East Montgomery County Improvement District (EMCID) is exceptionally pleased to announce a proposed 200,000 sq. ft. conference and events center, which is expected to have a nearly $1.73 billion economic impact over the next 30 years.
Proposed to be located in the Valley Ranch Town Center’s Entertainment District, the facility, designed by Helman Hurley Charvat Peacock/Architects, Inc. (HHCP), will feature a 55,000 sq. ft. ballroom/exhibit hall and nearly 20,000 sq. ft. of meeting space, large enough to hold major corporate events, trade shows, local and regional youth sporting events, consumer shows, galas, wedding receptions, proms and other private events.

The I-69/Grand Parkway corridor is absent of many key services that have held back our community’s growth for decades. Today, retail has come a long way, as has industrial. The Grand Parkway has made us accessible for many outside our backyard. A part of our focus is expanding our impact at EMCID by helping attract major corporate relocations, employers that will bring high paying jobs, and increase our ‘day-time traffic population’ which drives sales tax and success throughout our region,” stated Frank McCrady, EMCID President & CEO. “The idea is to create the critical pieces that make the greater Porter/New Caney area a destination for many, but more importantly, a place where locally all can work, shop, play, and even graduate at home! We should be at the top of the list of major employment relocations, and this investment will certainly help move the needle.”

Through newer design technology and equipment, the facility spaces are very flexible and easily transitioned to accommodate a multitude of events large and small. As designed, the exhibit hall will be able to hold more than 6,000 attendees for special gatherings and events and can also be divided into smaller rooms. Two signature meeting rooms take advantage of spectacular views to the west, south, and east of the future entertainment district and a terrace overlooking green space. The center includes approximately 25,000 sq. ft. of pre-function and lobby space and outdoor courtyards.

The plans also include space for a future full-service conference hotel to connect to the conference center and an attached multi-level parking garage.

“The Board has researched the idea of a conference center for several years; EMCID’s current facility The Atrium Center, which has a combined 15,000 sq. ft. of leasable space, has been turning away business on a constant basis because it’s just too small for many events with over 200 people. Each time is a lost revenue opportunity for nearby restaurants and local hotels,” said Brenda Webb, Chairman of the Board.

The Board began due diligence in 2021 studying various conference centers and engaging Hunden Strategic Partners for a market analysis and feasibility study. Hunden performed an economic, demographic and tourism analysis, as well as a market analysis for the demand for convention, event, and meeting space. Hunden determined the greater Houston area is lacking multi-use space that can accommodate groups that are unable to host events downtown due to rental rates and hotel prices and that demand is great for flat-floor events and court sports.

“Given the fact that the placement of the facility would be at the Grand Parkway and Interstate 69 and within close proximity to dining, shopping and a future hotel, the analysis determined a facility in the Valley Ranch Town Center would have a competitive edge over other regional facilities,” said McCrady. “EMCID has a great relationship with The Signorelli Company, the developer of Valley Ranch, and have been working closely to determine feasibility and best location for the conference center. By working like Randall Reed Stadium before it, the conference center is expected to have amenities and synergies at its disposal that would not be typical of a project on this scale. Its impacts on hotels, entertainment opportunities, higher-end restaurants, and so much more will be exciting to watch unfold.”

Hunden expects the project to generate over the next 30 years nearly $1.73 billion in net new spending within the boundaries of the district, $775 million in net new earnings, and more than 500 direct and indirect full-time equivalent jobs at stabilization. The project should generate about $35.1 million in sales, hotel, and venue taxes to the district.

Though there are plenty of design aspects that must be finalized, construction is projected to begin in late 2022 and open mid-2024. The cost of the facility, site preparation, and furniture, fixtures and equipment is estimated to be approximately $90 million, while the parking structure is projected at about $18 million. The project will be supported through sales tax revenue bonds.