Midway and Parkway form real estate investment, operations and management firm

Privately owned, full service real estate firms Parkway Property Investments, LLC (Parkway) and Midway Holdings, LP (Midway) have entered into a definitive agreement whereby the companies will form a new, fully diversified real estate investment, operations, and management firm. The new firm enables two nationally recognized firms with over 100 years of collective experience to share capital and complementary expertise. The firms will work together to increase investment and expand ownership and operations across the Sun Belt region and beyond, with a focus on creating remarkable places and sustainable assets.

The new combined firm, which will employ approximately 300 team members, will be headquartered in Houston, and will have people and/or assets in 13 markets across Texas, Florida, Georgia, Virginia, Arizona, Colorado, and California. The full integration of the Parkway and Midway teams is targeted for Q3 2023.

Upon full integration, Bradley Freels and James Heistand will serve as co-executive chairmen of the new firm’s board, and Jayson Lipsey and Jamie Bryant will serve as co-chief executive officers of the new firm. The remainder of the new company’s leadership team will include executives from both Midway and Parkway. A. Noni Holmes-Kidd will serve as chief legal officer, Matt Mooney will serve as chief operating officer, John Kosciulek will serve as chief financial officer, and Pam Jesse will serve as chief people officer.

Midway will continue to operate its development entity under current management. 

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

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.

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

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.

URBN Dental announces location at CITYCENTRE in Houston

On behalf of TriGate Capital, a Dallas-based leading real estate investment manager, Houston-based Midway, a privately owned, fully integrated real estate investment and development firm, is pleased to announce that URBN Dental is opening a new location at CITYCENTRE, Houston’s premier mixed-use destination to shop, dine, live, work, and stay.

The local cosmetic dental practice provides a wide variety of services for all ages, including routine cleaning, fillings, crowns and bridges, extractions, root canals, dentures, implants, and braces. Dedicated to providing the highest quality of care, URBN Dental’s office is equipped with the latest technology. URBN’s modern and artfully designed offices redefine the dental office experience to inspire relaxation and comfort. Patients enjoy complimentary Wi-Fi, beverages, TVs in their private treatment rooms, and warm aromatherapy towelettes.

URBN Dental is slated to open in February 2023 and will be located on Queensbury Lane next to Beverly Hills Rejuvenation Center CITYCENTRE. Spanning 1,993 square feet, URBN Dental is committed to providing people who visit, work, and live at CITYCENTRE with exceptional oral health care.

Laura Harness of Retail by Midway represented the Landlord, a Trigate Capital company, in this transaction.

Midway announces new office component of East River mixed-use development

Houston-based Midway, the privately owned, fully integrated real estate investment, development, and management firm, announced a new for-sale office space component within its 150-acre East River mixed-use development. Anchoring East River’s northern boundary on Clinton Drive, the initial construction of “The Studios at East River” will consist of three 10,000-square-foot independent office structures with additional buildings planned in future expansion phases. Global award-winning landscape architecture firm OJB has pre-purchased the first of the three buildings and will be relocating its Houston practice from Pennzoil Place to East River.  Construction on the Studios is underway and is slated for completion in June 2023.

Geared towards businesses looking to own their own space, the two-story office buildings are fully customizable with minimal interior build-out, with each building including four ADA compliant restrooms, a kitchen, an elevator, and four to five dedicated surface parking spaces, with contract parking available in an adjacent multi-level garage.  

Houston-based OJB Landscape Architecture, the collective professional landscape design and urban planning practice, is leading the site and landscape design of the East River project. An OJB team of landscape architects, architects, horticulturists, scientists, planners, and continuing care experts contributed to the East River project, focusing on the connection to the water, the pedestrian realm, central green spaces, active transportation and upgraded infrastructure. Sustainability is deployed throughout the site design by controlling stormwater, using native plantings, and creating new wildflower meadows. Over 300 trees from redeveloped projects around Houston were saved and replanted as an on-site tree nursery to supply plant material through the multiple phases. Dedicated bike lanes, walkable districts with wide pedestrian streetscape and open space connectivity will link the surrounding neighborhoods to the site and to the bayou trail network.  

In total, East River’s Phase I will offer 300,000 square feet of office space designed to fit a wide variety of business needs alongside The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of ground-level retail that will fuse commerce and culture with restaurant, hospitality, soft goods, medical, and entertainment forming spaces. Retail tenants confirmed for Phase I include Lick Honest Ice Creams, El Condor Coffee Roaster, Tomi Jewelry, URBN Dental, and a new special events venue and landmark rooftop bar from the owners of The Astorian. Office tenants include Impact Networking, Method Architecture, Houston Maritime Center, and TEAL. Construction is currently underway and is scheduled for completion in 2023.