Springwoods Village building lands its first office tenant
Arroyo Energy Investors has inked the first office lease at CityPlace I, a 149,500-squarefoot multi-tenant building at 1700 City Plaza Drive in Springwoods Village. The company will relocate from The Woodlands to 9,426 square feet on the fourth floor of the building.
A joint venture of Patrinely Group, USAA Real Estate and CDC Houston, CityPlace I includes 122,500 square feet of office space and 27,000 square feet of retail space on the ground floor.
“As our Houston office continues to grow, we are looking for ways to offer convenient, firstrate workspaces to our team,” Arroyo Energy Investors Founding Partner David Field said in an announcement. “Our decision to build a presence in CityPlace makes sense for our expanding group of investment professionals and advisors.”
Jason Tangen of Colliers International represented the tenant, while Chrissy Wilson and Russell Hodges of JLL represented the landlord along wtih Dennis Tarro of Patrinely Group.
CityPlace I offers a new option for small to midsize tenants in CityPlace, which is home to HP, Southwestern Energy, American Bureau of Shipping and the future home of Hewlett Packard Enterprise. Other developments in the works include a Star Cinema Grill and 24 Hour Fitness.
Avenue, a Houston community development organization, has partnered with Legacy Community Health to bring a new clinic to Avenue Center, a mixeduse community resource center being developed at 3517 Irvington Blvd. Legacy Community Health will occupy 6,200 square feet of the 30,500-square-foot center to improve health care access for working families in Near Northside. The clinic will provide primary care and behavioral health services beginning in 2020. Designed by architecture firm Page, Avenue Center will also house programs and services such as home buyer education and counseling, financial education, space for meetings and an early childhood education center for area residents. Houston-based Leslie Doggett Industries plans to break ground on a $24 million Doggett Ford auto and truck dealership and showroom at 9225 North Freeway, just north of Doggett Industries and south of Beltway 8. The business is operating in temporary buildings. Leslie Doggett Industries is a heavy equipment dealer for seven manufacturers including John Deere, Toyota Industrial Equipment, Freightliner and Western Star highway and vocational trucks, Link Belt Cranes, Ford and Great Dane Trailers. Merit Hill Capital has purchased Safe Keeping Self Storage, a 709-unit property at 6610 Highway 6 North. Steve Melon and Brian Somoza of JLL Capital Markets represented the seller, Safe Keeping. The facility has 439 climate-controlled units.
CBA Land Capital has closed a lot banking deal with Grand
Dominion Homes consisting of 45 lots in Lago Mar, a Land Tejas development planned for 4,000 homes in Texas City. The Sugar Land-based builder offers homes from $250,000 in Lago Mar. Founded by Paul Connor, Houston-based CBA Land Capital provides an alternative financing structure that enables builders to hold onto capital for current building needs while securing lots for the future.
Edelman Financial has leased 2,242 square feet of office space in the new East Shore Place, a development of Wulfe & Co. at northwest corner of Grogans Mill Road and East Shore Drive in The Woodlands. David Husid of Newmark Knight Frank represented the tenant. The landlord was represented by Wulfe & Co. TIG Real Estate Services has sold Sunrise Lake, a 74,612square-foot office/retail property at 9307 and 9223 Broadway in Pearland, to a local private buyer. Dan Miller, John Indelli and Bryan Strode of JLL represented the seller and procured the buyer. Completed in 2006 and recently renovated, the property is 86 percent leased primary to medical office tenants.
Airia Development announced home builders in the initial phase of Artavia, a 2,200acre master-planned community near Texas 242 and FM 1314 in the Montgomery County/Conroe area. Coventry Homes, David Weekley Homes, Highland Homes, J. Patrick Homes, Lennar, Perry Homes, Plantation Homes, Ravenna Homes and Westin Homes will showcase designs in a model home village in late summer. Prices are expected to range from $240,000 to the $500,000s in Phase One, which is planned for 456 homes on 50- to 70-foot lots.