Landmark Galveston hotel trades hands
Realty 1 Partners, a Richmond-based real estate development company, will break ground on the Point West Distribution Center at 32303 U.S. Highway 90 in Brookshire this month. Andrew Sowell and Bo Pettit of Boyd Commercial will handle leasing. ArchCon Corp. is the general contractor, and Tramonte Design Studio is the architect for the 133,900-square-foot facility, which will be offered for lease or sale. Completion is planned by the end of the year.
Hospitality Asset Funding Group completed the acquisition of the Tremont House Hotel in Galveston from Mitchell Historic Properties. The hotel, a redevelopment of the historic Leon and H. Blum Building by George and Cynthia Mitchell, is at 2300 Ship’s Mechanic Row in the Strand National Historic Landmark District. The new owner plans to launch a multimillion-dollar renovation and convert the hotel to a Marriott soft-branded Tribute property upon completion in 2022. Hospitality Asset Funding Group is a joint venture of Addison-based SRH Hospitality and Austinbased JLM Financial Investments.
Maxum Enterprises subleased 16,730 square feet of warehouse space at Deer Park I, at 4424 Underwood Road in La Porte. Zack Taylor of Moody Rambin represented the subtenant. Patrick Rollins of CBRE represented sublessor.
RLH Corp. announced the opening of Americas Best Value Inn & Suites, a 44-room hotel at 55 Sorters McClellan Road in the Kingwood/Humble area near George Bush Intercontinental Airport. Nikul Patel is general manager. RLH franchises eight brands including Americas Best Value Inn at 900 properties across North America.
Air Express International USA (DHL Global Forwarding) leased 128,500 square feet at 15894 Diplomatic Plaza in World Houston Business Center 38. Logan Greer of InSite Realty represented the landlord, EastGroup Properties. Ed Frantz of CBRE represented the tenant.
Luton | Underwood Development Partners, a Houstonbased
company formed by Nick Luton and Carson Underwood, purchased 10.62 acres at 11514 Trickey Road in the Greenspoint area. The buyer plans to develop a 44-home single-family for-rent community on 10 acres with completion planned in the fourth quarter. A building on the remaining 0.62 acres is being marketed for sale. Tommy LeBlanc and John-Michael Kamel of Avison Young represented the seller, Alpha Neutronics.
Kampgrounds of America
purchased Galveston Island RV Resort, a 200-unit RV park on 28 acres at 23700 Termini-San Luis Pass Road in Galveston. Marcus & Millichap brokered the sale.
Fulu purchased a 0.78-acre ground lease, housing a 3,164square-foot Wendy’s restaurant, at 13334 Tomball Parkway. Chris Dray, David Luther and Rick Ragan of NewQuest Properties represented the seller, McGowen Investments. Gloria Chiu of the Real Estate Experts represented the buyer. S&P Wholesaling leased 14,750 square feet at 4240 Lockfield St. in northwest Houston. Sam Rayburn and Jim Autenreith with Moody Rambin represented the landlord.
Law Office of Bryan Fagan renewed 10,699 square feet at 3707 FM 1960. Brent St. Amant represented the landlord, Hartman Income REIT.
Berlin Heart leased 1,800 square feet of warehouse space at 2121 Golden Road, Spring. Bayou Properties Realty represented the landlord, KRED Investments. Kyle Whieldon of Cypressbrook Co. represented the tenant.
G. Abrego Investments
leased 5,360 square feet at 5151 Mitchelldale. Justin Harrity represented the landlord, Hartman Income REIT.
Estes Cos., a Houston-based company founded by Andrew Estes, acquired the Concord Home Apartments at 2020 Cottonwood in Beaumont from the Beaumont Housing Authority. The 100-unit property, renamed Verandas of Beaumont Apartments, will undergo renovations.
Transwestern Real Estate
Services has been tapped by Hicks Ventures and Taconic Capital to provide leasing services for the recently renovated 1177 W. Loop 610 South office building. The 18-story building is 74.3 percent leased.
CBRE has been awarded the leasing assignment for Skanska USA Commercial Development’s 28-story office tower being developed at 1550 Lamar. The 375,000-square-foot building will anchor Discovery West, a three-block, master-planned district next to Discovery Green park.
Myung Lee renewed 5,412 square feet at 3707 FM 1960. Katherine Morrison represented the landlord, Hartman Income REIT.
Gulf Coast Commercial Group plans to redevelop 1102 Pinemont Drive into a 38,000square-foot lifestyle hub serving Garden Oaks, Oak Forest and Acres Homes northwest of downtown. The Common, on nearly 3 acres, will have a central plaza between two singlestory buildings for gatherings and events. The project team includes Houston architecture firm Schooley Design and Outposts Landscape Architecture. Danny Miller of Gulf Coast Commercial will oversee leasing. Esther’s Signature Dish restaurant will remain during renovations. The strip shopping center was built in the 1980s.
Diamonds Direct, a directto-consumer diamond retailer and jeweler headquartered in Charlotte, N.C., entered the Houston market with an 8,000square-foot showroom at 3115 W. Loop 610 South. Tamir Shkargi serves as Houston vice president.
Common Bond On-the-Go Midtown Park will open a bakery and restaurant in Drewery Place, a 27-story apartment tower at 2850 Fannin developed by Caydon, in late fall. The 2,000-square-foot restaurant brings the commercial space in Drewery Place to 100 percent leased, according to Caydon.
Lovesac will open a 801square-foot furniture showroom at 2510 University Blvd. in Rice Village this spring. The company makes Sactionals, or large upholstered seating components that can be customized, washed and reconfigured. Burdette Huffman of Blue Ox Group represented landlord Rice Management Co.
Houston fashion designer Chloe Dao is expanding to the Heights with a mini design studio focused on cocktail and evening wear at M-K-T, 600 N. Shepherd Drive. Dao, a Project Runway winner, operates the Dao Chloe
Dao boutique in Rice Village.
Ray-Ban, a global eyewear retailer, will open at M-K-T in the upcoming months. M-K-T is a development of Triten Real Estate Partners, Radom Capital and Long Wharf Capital.
Eggcellence Café leased 2,335 square feet in the Baytown Marketplace Shopping Center in Baytown for its ninth Houstonarea location. Katherine Wildman of Wulfe & Co. represented the tenant.
Scholars and Scoundrels leased 6,200 square feet in Boardwalk Crossing, at Kingsland Boulevard and AMC Drive, Katy, from Boardwalk Crossing LLC. Bob Conwell of NewQuest Properties represented the landlord. Jeff Goldberg of Gold Key Partners represented the tenant.
Ike's Love & Sandwiches
leased 1,400 square feet of retail space in the Village at 2518A Rice Blvd. Josh Friedlander and Bob Conwell of NewQuest Properties represented the landlord, RPI
Management. Lunden McGill and John Frazier of Baker Katz represented the tenant.
JC Educational Services
leased 1,050 square feet in Dickinson Village, 3410 Gulf Freeway, Dickinson. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord, Revesco (USA) Properties of Dickinson. Lyle Cowand of Resolut RE represented the tenant.