Tag: Houston

Midway signs Suderman & Young Towing Company as latest office tenant at East River

Posted on by Mia Goulart

Houston-based Midway, the privately owned, fully integrated real estate investment and development firm, announced Suderman & Young Towing Company, a tug service provider, has leased approximately 6,000 square feet in East River’s Trail Head 1 (Building F) office building, adjacent to the project’s bayou-side greenspace with views of Downtown Houston.

Founded in the late nineteenth century in Galveston, Texas, Suderman & Young Towing Company has provided professional towing and ship assist services to all types of vessels in Texas Gulf ports for over a century. Headquartered in Houston, the company’s tug fleet is strategically located in the ports of Houston, Galveston, Texas City, Freeport and Corpus Christi. Its full range of tug services include ship docking, undocking and harbor assistance; vessel escort; rig and special projects; and LNG terminal vessel assistance. Suderman & Young’s diverse tug fleet, which includes Z-Tech tractor tugs, can handle any vessel size.  All tugs are ISM and AWO RCP certified.

Construction Update
As leasing momentum continues, Midway has completed building construction on three retail/office components East River’s first phase. Two office buildings (Building F and Building C), which both feature retail space on the ground floor, are now complete, as is the retail component of The Laura multifamily community. Tenants are beginning to build out their spaces, with the majority slated for completion prior to the mixed-use development’s Fall 2023 opening.

In total, Phase 1 of East River will offer 300,000 square feet of leasable office space designed to fit a wide variety of business needs; three 10,000-square-foot independent office structures dubbed The Studios at East River, which are currently under construction and geared towards businesses looking to own their own space; The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of retail at the ground floor of the office buildings, district garage, and bayou restaurant pavilions that will fuse commerce and culture with restaurant, hospitality, retail, medical, and entertainment forming spaces.

Confirmed Tenants and Leasing Information
Retail tenants confirmed for Phase 1 include Broham Fine Soul Food & Groceries, Lick Honest Ice Creams, El Condor Coffee Roasters, Tomi Jewelry, URBN Dental, and a new event venue and rooftop bar from the owners of The Astorian. Suderman & Young joins confirmed office tenants Impact Networking, Houston Maritime Center, Method Architecture and TEAL. OJB Landscape Architecture has pre-purchased one of The Studios at East River independent office structures.

Office and retail space is still available for lease at East River, though inventory is limited and going quickly. Only one full floor of office space remains in Building C, with small and full floors available in Building F. As momentum continues for retail leasing, Midway is proud to offer discounted retail space to Fifth Ward-owned businesses.

Brandi McDonald Sikes and Sobi Qazi with SVN | J. Beard Real Estate, Greater Houston are the exclusive leasing agents for the remaining office space in Phase 1, and retail leasing is handled in-house by Lacee Jacobs and Laura Harness from Midway’s Strategic Leasing and Advisory team. Suderman & Young was represented by Griff Bandy, Partners Real Estate.

Stream Realty Partners wins two leasing assignments for Unilev properties

Posted on by Mia Goulart

Stream Realty Partners’ office leasing team recently was awarded two new leasing assignments for Houston-area office buildings.

Stream, a national commercial real estate firm offering an integrated platform of services, will handle leasing and marketing for 3555 Timmons and 4550 Post Oak Place. Senior Vice President Brad Fricks and Vice President Matt Asvestas will serve as leasing agents at 3555 Timmons. Vice President Matthew Seliger and Senior Associate Danielle Rothchild will be responsible for leasing efforts at 4550 Post Oak Place.

Both 3555 Timmons and 4550 Post Oak Place are owned by Unilev, a seasoned real estate investment and management organization with a strong presence in the Houston market.

3555 Timmons is a 14-floor, Class A building in the Greenway submarket. The building is easily accessible to U.S. 59, Westpark Tollway, and Interstate 610, and is close to the residential areas of River Oaks and West University Place. Ownership has recently invested more than $3.2 million in capital improvements, including a complete lobby and conference room/training center renovation.

3555 Timmons is surrounded by a wide variety of restaurants, upscale hotels, and renowned retail. Availabilities at the building range from 1,500 square feet to 18,141 square feet.

4550 Post Oak Place is a three-story boutique office building in the Galleria submarket. The premier location offers immediate access to major thoroughfares including Interstate 610, San Felipe Street, and Post Oak Boulevard. The building features an on-site deli, covered parking, and controlled access. A myriad of popular restaurants, retail shopping, and hotels are minutes away. Availabilities at 4550 Post Oak Place range from 505 square feet to 7,653 square feet.

“Thanks to dedicated and stable ownership, 3555 Timmons and 4550 Post Oak Place are well-positioned to welcome new tenants and provide them with a top-of-the-line occupier experience,” said Fricks.

Fricks, a tenured broker with more than 31 years of office leasing experience, was recently named the Houston Office Leasing Brokers Association (HOLBA) 2022 Landlord Broker of the Year. He was recognized for his production at over nine million square feet throughout the course of his career, as well as his industry involvement and numerous accolades. With this newly awarded assignment, Fricks now serves as the leasing agent for three Unilev-owned properties: 3555 Timmons, One Riverway, and Three Riverway.

  • 3555 Timmons
  • 4550 Post Oak Place

Hiffman National to manage Woodside’s newest office building in Houston’s Energy Corridor

Posted on by Mia Goulart

Hiffman National, a leading commercial property management firm whose portfolio comprises 130 million square feet of office, industrial and retail space across the U.S., has been retained by Fort Worth, Texas-based real estate fund manager Woodside to manage its newest acquisition at 12012 Wickchester Lane, in the heart of Houston’s Energy Corridor.

Hiffman National will provide the six-floor, 110,000-square-foot office building with day-to-day operational oversight, tenant service, property maintenance, engineering and capital improvement oversight.

“Woodside has an incredible track record of repositioning suburban office buildings like this one as high-quality, high-value tenant space options,” said Hiffman National Senior Vice President, Sun Belt Region Jim Tainter. “In addition to vacancy upgrades and extensive capital improvement plans this year, Woodside has adopted a comprehensive spec suite program to provide move-in ready space for office occupiers of all sizes. As Houston’s office market continues to improve, it’s the updated, high-quality space with professional property management that will attract and retain tenants.”

Colliers announces leadership transition in Houston

Posted on by Mia Goulart

Colliers Houston has announced that Patrick Duffy will be stepping down as president of Colliers Houston this summer and that Danny Rice, currently managing director of Colliers in Orlando, Tampa Bay and Southwest Florida will be replacing Duffy. Duffy held that position prior to moving to Houston in 2009.

“Danny is the perfect replacement for me”, Duffy said. “I hired Danny straight out of college in 2007 and he spent the first couple of years in GIS and technology support before moving to brokerage as an office landlord and tenant representative. He started in a company structure that I set up.”

Danny left Colliers to pursue several entrepreneurial real estate tech opportunities. Just prior to rejoining Colliers in 2018, he was the chief revenue officer at Xceligent, one of the leading providers of commercial real estate information and research at the time. During Danny’s tenure, he grew from a local sales rep in Florida to quickly becoming regional vice president of sales for the Florida markets and then executive vice president of national accounts before becoming chief revenue officer. Danny oversaw a team of nine regional VP’s, 60+ outside sales reps, 20+ inside sales reps and 20+ customer success and marketing professionals. He was also heavily involved in product and development efforts within the organization.

Duffy said, “I wasn’t in a big hurry to step down but had been thinking about proper timing and planning for the transition for a couple of years. I spoke with Danny frequently on Colliers business and also sent him training materials I had developed since leaving my old role in Florida. Danny and his wife have family in Dallas, and he mentioned that they had a long-term goal of moving here. I casually asked him if Houston was close enough and mentioned that I thought he was a perfect cultural and experience fit for taking over my job (when he was ready). Last year, he called me and said they had decided they were ready. After meeting with our board of directors for about six hours, our team agreed that he was the perfect candidate and to move forward with Danny.”

Duffy said he was much more focused on leaving the Houston office in good hands than perfect timing for his plans. He will remain at Colliers Houston in a brokerage role and focus on helping his relationships with their real estate issues and will remain a partner in the firm.

Duffy has had a long and successful career in commercial real estate since entering the industry in 1983 in the tech space. He was part of a team that developed the first CRM for the PC platform along with a full suite of database tools for commercial real estate prior to moving into a brokerage production and sales management role in 1985. He was responsible for managing and growing the firm that eventually became Colliers Tampa Bay, Colliers Orlando and Colliers SW Florida over the following 24 years.

When Duffy took over the leadership role in Houston in 2009, the firm had 36 producer/advisors. The firm has grown to be one of the largest commercial real estate companies in South East Texas with over 82 advisors, and 2022 transaction volume of roughly $3 billion. Revenue to the firm has increased over 550% since 2009.

“Our big focus has been on building a top-quality platform where our advisors can focus on exceeding our clients’ expectations. We have been more interested in culture and quality than size,” Duffy said. “The growth came mainly from our existing team talking to their friends in the industry about what a great team and environment we have built here.”

The top goal for the firm for the past 14 years has been to have happy people and maintain the culture of the organization. In 2015, the company took a survey developed by Michigan State University and provided by Steelcase, Inc. which was designed to show the current and desired cultures of a company. According to Steelcase, Colliers Houston was the first firm they had heard of to have a current and desired culture map that aligned.

Pat has had a wide range of “side” roles over the years. He helped start the retail platform at NAI in the late 80s and started the Colliers Retail Services (North America) platform where he served as chairman for over 15 years. He served as a member (and chairman) of the Colliers Managers Steering committee, the Board of Directors for Colliers USA and is the past chairman of the Colliers USA Board of Advisors. He won every award a manager could win when his firm was associated with NAI and has won every award for non-producers at Colliers including the Pinnacle Award for service, Manager of the Year, Tom Richardson Award (character) and others. He has also been awarded Most Admired CEO by the Houston Business Journal, Best Bosses from Real Estate Forum Magazine, Executive of the Year (REDnews), People’s Choice award (REDnews), named a Texas Real Estate Icon, and top Faculty award from CORENET.

“It has been a very good run for me. I love my career and am proud of what we have been able to accomplish in both Florida and here in Houston. The award that means the most to me is the number one Best Places to Work in the large company category in 2022,” Duffy concluded.

“We are excited about Danny taking the lead for our firm going forward,” said Bob Parsley, chairman of Colliers Houston. “We would have been happy with Pat running the company for another decade, but we are at a point where he wants to dial it back and bringing on an experienced, new leader with great focus and energy is just what we need to take Colliers to the next level.”

Midway Announces New Property Management Assignment for Avenue Grove Luxury Mid-rise in Houston

Posted on by Mia Goulart

Midway, the privately owned, fully integrated real estate investment and development firm, will handle property management services for Avenue Grove, a luxury midrise residential tower in Houston’s Upper Kirby District. As property manager, Midway will provide residential leasing and marketing, routine and preventative maintenance, emergency preparedness and response, risk mitigation and asset preservation.

Avenue Grove sets the standard for contemporary urban living. The 270-unit midrise opened in 2015 and offers studio, one- and two-bedroom lofts and townhomes with floor-to-ceiling windows, solar shades, hardwood floors, sophisticated marble and granite countertops, large custom closets, and patios/balconies in select units. Thoughtfully considered community amenities include a 10,000-square-foot rooftop terrace with a sundeck and pool, a fitness center, a business center, gated garage parking, concierge services and a dedicated onsite team.

Midway developed and previously managed Kirby Grove—the mixed-use district in which Avenue Grove lies—in collaboration with Upper Kirby Management District. In addition to the 330,000-square-foot multifamily community, the 11-acre development is comprised of Kirby Grove Office Tower, a 225,000-square-foot office building with 25,000 square feet of ground floor retail, and Levy Park, a vibrant six-acre park. As part of the overall Kirby Grove project, Levy Park underwent a two-year, $15 million sweeping transformation and now serves as a community focal point and a venue to host events and district-centered programming. A private lease agreement with adjacent properties provides a sustainable funding source that helps pay for the park’s operation. Kirby Grove was completed in 2017.

Avenue Grove residents benefit from Kirby Grove’s premier dining, entertainment, boutique offices and activated green spaces just steps from their front door, as well as easy access to Levy Park’s activity and event lawns, performance pavilion, dog park, promenade with seating, community garden and 7,500-square-foot rain garden, which harvests and reuses stormwater.

Partners Real Estate shares two promotions

Posted on by Mia Goulart

Partners Real Estate has promoted top-performing industrial brokers Zane Carman and A.J. Williams to partner.

Mr. Carman joined Partners in 2018 and recorded his best year ever—closing over one million square feet of leasing transactions, and half a million square feet of sales in 2022. He has consistently been among Partners’ strongest performers, and cracked the company’s Top 10 Producers for 2022 in arguably the most competitive year the firm has ever had.

Mr. Williams also joined Partners in 2018 and quickly amassed an abundance of strong client relationships including a wide range of industrial development, manufacturing, and distribution companies. He closed out 2022 with more than one million square feet of sales and 800,000 square feet of lease transactions. Mr. Williams also ranked among Partners’ Top 10 Producers of 2022.

In addition to being one of the finalists for NAIOP’s 2022 Industrial Rising Star awards, Mr. Carman’s notable recent transactions include the sale of 63,000-square-foot building at 20807 Clay Center Drive, the sale of 47.20 acres of land located at 11022 Telephone Road and the lease of Cedar Crossing Building B, a 99,000-square-foot industrial property.

Mr. Williams’ notable recent transactions include the sale of 8700 Fairbanks North Houston, a 237,404-square-foot industrial warehouse on 88 acres of land, the lease of 7300 Thompson Road, a 277,377-square-foot distribution center and the sale of 4000-4001 Homestead Road, a 76,595-square-foot industrial facility on 10 acres of land.