Category: Southeast Texas Deals & Announcements

West Houston office property trades to 1031 investor

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Briar Forest Crossing, a 94,404-square-foot office building in Houston, Texas.

JLL represented the seller, CapRidge Partners, LLC in the off-market transaction. LM & Associates, LLC, a 1031 investor, purchased the property and was represented by Doug Pack with Colliers, who will also be handling the leasing.

Briar Forest Crossing is located at 1300 West Sam Houston Parkway, at the northwest corner of Sam Houston Tollway and Briar Forest in Houston’s Westchase submarket. The office building is convenient to Houston’s Energy Corridor as well as the Galleria and Greenway Plaza business districts. Additionally, the property is just west of The Villages, one of Houston’s most affluent residential neighborhoods.

The four-story building is currently 73.1% leased and serves at the headquarter location for US Physical Therapy. Building amenities include a common area conference center and parking in an attached structured garage.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Marty Hogan.

Hines selected as development manager for Texas A&M Aplin Center

Posted on by Mia Goulart

Texas A&M has selected key partners to advance toward a summer groundbreaking for the Aplin Center. Supported by a $50 million gift from former student Arch “Beaver” Aplin III, owner of Buc-ee’s, the academic center will serve as an immersive learning laboratory for students.

Houston-based Hines has been selected as the development manager to facilitate the T3 project. T3 is Hines’ new generation of heavy timber buildings are focused on innovation, wellness and sustainability. Pickard Chilton and DLR Group, two premier architectural design firms known for their innovative ideas, will lead the design of the state-of-the-art facility. Landscape architect Design Workshop will transform the surrounding eight acres at the corner of Wellborn Road and John Kimbrough Boulevard into an inviting green space. The university will break ground in the fall.

The Aplin Center will offer a transformational student experience through new university programs in hospitality, retail studies and food product development involving innovative degree programs including viticulture, fermentation processes, coffee and food science. Product development laboratories and food tasting areas will offer collaboration with industry and experiential learning opportunities for students.

The Aplin Center will include outdoor and indoor student recreational space, as well as retail and food service areas managed by students and faculty through the educational programs.

The project will host corporate training and recruiting programs, along with professional development opportunities. Workforce training based on industry needs will be a key component of the center. Texas A&M is already exploring potential collaboration with industry for internship opportunities as students advance through the programs offered at the Aplin Center.

Primary academic partners will be the College of Agriculture and Life Sciences and the Mays Business School, although other academic units will be involved in specialty projects.

Aplin graduated from Texas A&M in 1980 with a construction science degree and opened his first Buc-ee’s in Lake Jackson, Texas, in 1982.

Sale of student housing community near University of Houston closes

Posted on by Mia Goulart

JLL Capital Markets closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston.

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet. The units include in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of downtown from an upper view deck.

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from Downtown Houston, which features 52 million square feet of office space. The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to downtown. Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.

Partners Real Estate arranges sale fabrication and distribution property in La Marque

Posted on by Mia Goulart

Partners Real Estate (Partners), arranged the sale of a 43,000-square-foot fabrication and distribution building located at 4725 Lawndale St. in La Marque, Texas.

Partners’ Cary Latham and Wyatt Huff represented the seller, Baucom Property Leasing, LLC, in the transaction of a sale leaseback to Bebco Environmental Controls Corporation, a leading manufacturer of industrial and hazardous location climate control products. Anthony Heins of Heins Properties represented the buyer, Wolf Capital Partners, in the sale.

Two Woodlands office buildings trade to private asset management firm

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of 10200 Grogans Mill Road and 1610 Woodstead Court, two office properties totaling 153,294 square feet in The Woodlands, Texas.

JLL represented the seller, and procured the buyer, a privately held asset management firm.

The two-property portfolio is positioned within The Woodlands, one of the nation’s premier master planned communities located 27 miles from Houston. The area is home to seven Fortune 500 corporate headquarters, boasts top-quality schools and residential neighborhoods, is home to more than 11 million square feet of retail and offers recreation options, including 220 miles of connected hike and bike trails.

10200 Grogans Mill Road and 1610 Woodstead Court sit on a total of 9.85 acres and are 66.7% leased overall. The tenancy is comprised of a diverse mix of industries, including finance, technology, legal services, oil and gas, consulting and logistics.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Director Rick Goings and Managing Directors Marty Hogan and Kevin McConn.

  • 10200 Grogans Mill Road
  • 1610 Woodstead Court

GREA brokers sale of former president’s apartment in Houston

Posted on by Mia Goulart

Jordon Emmott and Abraham Garza of GREA (Global Real Estate Advisors) brokered the sale of Chateaux Dijon Apartments from Investres (which purchased the property in 2018) to Three Pillars Capital Group. The 426-unit multifamily community is located in the Galleria area at 5331 Beverlyhill Street (77056).

Three Pillars has extensive renovation plans for the community that President George W. Bush once called home.

Emmott noted, “Chateaux Dijon is one of the most historic and recognizable apartment properties in Houston. The architecture was simply way ahead of its time and I am excited to see the asset being revitalized.”