HOUSTON – July 19, 2022 – Stream Realty Partners and Austin-based CapRidge Partners capped off the first half of 2022 by welcoming two new energy tenants to Memorial Tower One at 1616 S. Voss Road. Houston-based U.S. Energy Corp., an independent energy company focused on the acquisition and development of oil and natural gas-producing properties, signed an 11,000-square-foot lease. Cody Little of JLL represented U.S. Energy Corp. Extex Operating Company, an oil and gas exploration and production company, signed a 10,289-square-foot lease. Val Festari represented the tenant. Stream Houston Managing Director Ryan Barbles and Vice President Matthew Asvestas represented CapRidge Partners in all transactions.

Memorial Tower One is part of CapRidge Partners’ extensive Houston portfolio. The leading commercial real estate investment firm owns three Class A office buildings in the San Felipe/Voss submarket: Memorial Tower One, Memorial Tower Two, and Woodway Tower. They also own Briar Forest Crossing in the Westchase submarket and the Woodbranch Building in the Energy Corridor.

Memorial Tower One, Memorial Tower Two, and Woodway Tower underwent extensive renovations in 2020, including upgraded common areas, new lobby finishes, tech-forward conference spaces, enhanced landscaping, and ample parking. The updated Class A office buildings provide a tenant-friendly office environment in an ideal location.

“Our office is in a great location–very convenient for both our employees and our clients,” said Memorial Tower Two tenant Frank Vandiver, President and Co-Founder of Title Houston Holdings. “Not only is Memorial Tower Two in a great location between the Memorial Villages and the Galleria, but the building also has useful amenities, the management group is responsive, and ownership is truly top-notch.”

Stream has completed nearly 100,000 square feet of transactions at CapRidge Partners’ Memorial Tower One, Memorial Tower Two, Woodway Tower, Briar Forest Crossing, and Woodbranch Building so far this year.

Additional leasing announcements for some of CapRidge Partners’ buildings include:

Memorial Tower Two

· Title Houston Holdings signed a 6,239-square-foot lease at Memorial Tower Two, 7500 San Felipe St.

· Ophthalmic Plastic Surgeons of Texas signed a 5,729-square-foot lease at Memorial Tower Two, 7500 San Felipe St. Dan Boyles of NAI represented the tenant.

Woodway Tower

· Allegiance Bank signed a 6,123-square-foot lease at Woodway Tower, 6363 Woodway Drive. Collin Grimes of CBRE represented the tenant.

Woodbranch Building

· Old Republic Title signed a 5,563-square-foot lease at Woodbranch Building, 12012 Wickchester Lane. Charlie Neahaus and Harry Holmes of NAI represented the tenant.

· LW Survey Co. signed a 3,659-square-foot lease at Woodbranch Building, 12012 Wickchester Lane. Thomas Berry with Savills represented the tenant.

· Mexico Ships US Employeeco signed a 3,493-square-foot lease at Woodbranch Building, 12012 Wickchester Lane. Alex Taghi with NAI represented the tenant.

“CapRidge’s speed to execution and ability to structure deals creatively has led to continued leasing momentum across the portfolio,” said Asvestas. “It is great to see tenants across all industries committing to long-term leases in high-quality buildings. We hope the second half of the year is as active as the first.”

Memorial Tower One, Memorial Tower Two, and Woodway Tower offer a premier location between the Memorial Villages and Tanglewood. The office buildings are only minutes from The Galleria, restaurants, hotels with desired amenities, and some of the most prestigious neighborhoods in Houston. The buildings offer convenient access to Loop 610, the Katy Freeway, Memorial Drive, Interstate 10, Westheimer Road, and Beltway 8. For leasing information, contact Stream Houston at 713.300.0300.

About Stream Realty Partners

Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,100 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

About CapRidge Partners

CapRidge Partners is a fully integrated operating company with decades of experience focused on value-add real estate investments in nine growth markets. Their long tenure in the industry has helped them develop strong relationships with brokers, tenants, and owners in their markets. By utilizing their investment and operational expertise during underwriting, the business plan can be crafted based on realistic expectations and capabilities. Vertical integration maximizes return for investors due to the seamless communication between the operations and investment teams throughout the lifecycle of an asset. Their culture of customer service, disciplined processes, and a long track record of “doing what we say we will do” have helped them craft a reputation they take great pride in.

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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033

Tulsa Inspection Resources leased 2,364 SF at 1001 S Dairy Ashford Road in Houston, Texas. Kacie Skeen represented the landlord, Hartman Income REIT.

Plezia, P.C. renewed 5,539 SF at 2909 Hillcroft in Houston, Texas. Donna Svec represented the landlord, Hartman Income REIT.

Republic Square, 13501 Katy Freeway, Houston: Built in 1994 and located at I-10 and Memorial Drive next to Terry Hershey Park, 20 miles west of downtown Houston, Republic Square is a three-story, 301,311-square-foot office building offering large floor plates, direct elevator access to offices and a range of green space, including interior courtyards and 21 miles of lakeside walking and biking trails. A large, open lobby with floor-to-ceiling windows overlooks a lake.

Dart acquired the building, the former Exxon Chemical headquarters, in 2014 and spent the subsequent period renovating it. Dart replaced all building mechanicals, refurbished restrooms and 20,000 square feet of executive space, and added a new cafe, conference room and fitness center with locker room and shower. It also updated all landscaping and the trail and lake system.

Republic Square can accommodate smaller and larger tenants and offers easy access to the William P. Hobby Airport. Current tenants include GATE Energy, Sparkhound and Samsung.

OAKBROOK TERRACE, Ill. (July 15, 2022) — Hiffman National, a leading commercial property management firm, announced today it has been retained by Dallas-based Dart Interests to manage two of its commercial properties in Texas totaling 1.75 million square feet. The assets include Republic Square, a 300,000-square-foot Class A office building on 35 wooded acres at 13501 Katy Freeway in Houston’s Energy Corridor; and 2200 South Business 45, a 1.45 million-square-foot industrial building in Corsicana, Texas, 60 miles south of Dallas.

Hiffman National, which started as a division of NAI Hiffman and, in 2021, began operating as a separate company offering commercial property management services nationwide, is a multi-year winner of the Property Management Firm of the Year award from the National Association for Industrial and Office Property (NAIOP) and other industry recognitions. It will provide each property with day-to-day operational oversight, tenant service, rent collection, property accounting, financial reporting, maintenance, engineering and capital improvement oversight to maximize the financial performance of each property.

Dart Interests, a national real estate investment and development firm with more than $1 billion in residential, commercial and resort properties in New York, California, Florida, North Carolina, South Carolina, Washington, D.C., and Texas, already partners with Hiffman National on the management of three industrial buildings at Maple Centre in the Inland Empire in Corona, Calif.

“Hiffman National understands Dart’s vision for developing institutional investment-quality commercial properties,” said Jon Herbster, vice president of Dart Interests. “Their proven client-service approach offers our properties a competitive advantage. They bring a like-minded, collaborative asset management approach to our project leasing teams to help attract and satisfy our tenant base, which in turn allows our assets to stand out in the markets in which we operate. Their ability to scale their service consistently and yet tailor their platform for each property’s needs was crucial to the expansion of our relationship.”

“Dart Interests has an incredible track record of transforming residential, commercial and hospitality environments nationwide into investment-grade properties through the unique lens of their visionary leadership,” said Jim Tainter, senior vice president – Sun Belt region for Hiffman National. “We bring an owner’s perspective to a property’s operations that collaboratively enhances project leasing efforts, thereby attracting and retaining tenants. That’s particularly crucial in many office markets, where post-COVID vacancy rates remain high. In Houston, where vacancies are approaching 27% for office buildings, landlords are prioritizing nicely refurbished space with amenities and hospitality-level service that makes tenants’ employees want to come to work every day. Dart Interests has adopted this strategy by partnering with Class A property management partners who can deliver on all ownership objectives.”

2200 South Business 45, Corsicana, Texas: Built in 1981 and acquired and renovated by Dart in 2018, 2200 South Business 45 is a former Home Depot distribution center with 1,453,620 rentable square feet – expandable to 2 million square feet – including 13,248 square feet of modern office space featuring private offices, a conference room, data processing room, cafeteria and first aid station.

Features include 92 dock doors and two drive-in ramps, parking for 560 cars and 1,130 trailers, and Union Pacific rail access. The property offers easy access to I-45 and State Highway 31 for travel to Dallas/Fort Worth and the Dallas/Fort Worth International Airport.

Davita is one of the largest kidney care companies in the U.S. with a network of 2,753 outpatient dialysis clinics in 46 states serving a total of 207,000 patients. DaVita will continue to lease their portion of the building under a 10-year primary term.

“This was a great transaction for both the buyer and seller,” said Todd Moore, Principal of Colliers. “The property has tremendous value add potential in leasing up the vacancy, while benefiting from long term, investment grade tenancy in place.”

Houston’s medical office market totals 43.6 million square feet of medical office space, which is currently 88.0% occupied. Rent growth is up 1.9% over the quarter and there are 2.2 million square feet of new product under construction.

For further information please contact:
Todd Moore | Principal
+1 713 830 2191 todd.moore@colliers.com

For further information please contact:
Connor Duffy | Associate
+1 713 830 4010 connor.duffy@colliers.com