Atlanta investor buys Sugar Land building
Atlanta-based Songy Highroads purchased Sugar Creek Place I, a 151,722-square-foot office building at 14100 Southwest Freeway in Sugar Land. Transwestern Commercial Services will provide leasing services for the building, which is 86 percent leased. The building has pre-built custom suites for smaller tenants and building signage opportunities for larger tenants, according to Songy Highroads. Recent upgrades include a new conference facility, tenant lounge and common areas, renovated lobby and corridors and a four-story parking garage. Among its other Houston area office and hotel investments, Songy Highroads is redeveloping the former La Torretta Lake Resort & Spa as Margaritaville at Lake Conroe. The 335-room hotel is slated to open in 2020.
CBRE announced a 12,091square-foot lease by Fizer Beck and a 5,459-square-foot lease by Next Level Urgent Care at 5718 Westheimer near the Galleria. Marilyn Guion and Parker Duffie of CBRE represented the landlord. The building, which leased space to KHOU-TV in February, has undergone $10 million in capital improvements and amenity upgrades, including a new entrance, updated corridors, elevators, green space, fitness facilities and a conference center. In addition, 70 percent of the move-in ready spec suites have been leased so far.
Gerber Plumbing Fixtures leased 180,000 square feet at 300 S. Sheldon Road. Andrew Jewett with CBRE represented the tenant. Matteson Hamilton with Stream Realty Partners represented the landlord, DRA Advisors.
Continental Poly, a producer of packaging products for commercial and consumer use, will add 18,000 square feet of warehouse space to its campus at 767 Industrial Blvd. in the Sugar Land Business Park. Houston-based KDW will handle the expansion, which will bring the campus to 90,000 square feet of warehouse and production space by mid 2020. The company moved to the campus in 2002.
Iliad Realty Group purchased Villa Nueva, a 542-unit apartment complex at 5300 West Gulf Bank Road. The twostory development was constructed in three phases completed in 1980, 1981 and 1983. Chip Nash, Bob Heard and Greg Austin with JLL Capital Markets represented the seller, Claro Villanueva. The buyer obtained a $27 million bridge loan from Greystone for the acquisition.
Jemco Services purchased a 25,750-square-foot industrial building at 7101 John Ralston Road. Darren O’Conor and Jake Wilkinson of NAI Partners represented the seller, Stephan Lett. Cynthia Martinez with Keller Williams Realty represented the buyer.
BD Advisors leased 5,185 square feet of office space at 2727 Allen Parkway. Grayson Wallace with Cushman & Wakefield represented the tenant. Kristen Rabel and Elliott Hirshfeld with CBRE represented the landlord, American General Life Insurance Co.
Fred and Soody Sharifi Family Partnership purchased a 6,946-square-foot building on a 12,894-square-foot lot at 3507 and 3511 Houston Ave., just off Interstate 45 in the Heights, for a future redevelopment. Outfront Media and Doylitas Management, the sellers, were represented by Ryan Neyland of Davis Commercial.
Greenwood-King extended its lease of 12,569 square feet at 1616 S. Voss Road. Matthew Asvestas and Craig McKenna with Stream Realty Partners represented the landlord, CapRidge Partners.
Finial Group purchased 203 Blue Bell Road, a 23,750-squarefoot industrial building leased to ACE Steel Supply, through a fund that is on track to acquire more than $100 million of industrial buildings in Texas this year. Doc Perrier represented the buyer in-house.
ISI Commercial Refrigeration leased 76,624 square feet at Cole Creek, at 9010 W. Little York Road. Jacob Goodman with Peel CRE represented the tenant. Matteson Hamilton with Stream Realty Partners represented the landlord, Prologis.