Global tax firm Ryan inks Uptown lease
Stonelake Capital Partners purchased a 238,000-square-foot Amazon facility in the West Ten Business Park at 28420 West Ten Blvd. in Katy. Rusty Tamlyn, Trent Agnew and Charlie Strauss of JLL represented the seller, a joint venture of Transwestern Development Co. and UBS Realty Investors.
The site, totaling 41 acres, also includes a 1,100-space, 15-acre parking lot used by Amazon for delivery staging and a 14-acre tract for future development. Brian Gammill of Transwestern handled the sale of the adjacent land.
“This is a compelling investment opportunity with state-of-the-art construction and a high-credit tenant,” William Peeples, principal at Stonelake Capital Partners said in an announcement. “The building will be combined with our existing industrial portfolio, which now totals 11 million square feet. Additionally, we are planning to break ground on the 14-acre site with an approximately 180,000-square-foot distribution center on a speculative basis.”
The Amazon facility, completed in 2019, was developed on a portion of the 74 acres Transwestern and UBS purchased in West Ten Business Park in 2014. In phase one, they developed two buildings totaling 415,000 square feet that are now occupied by Bel Furniture.
Ryan, a Dallas-based global tax services and software provider, leased 66,750 square feet at Park Towers for relocation of its Houston office. The lease at 1233 West Loop South is the largest to be announced in the twin 18-story towers since the buildings were acquired by Los Angeles-based Regent Properties in August. Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern Real Estate Services represented the landlord. The deal boosts occupancy of the north tower to 74 percent and the overall complex to 63 percent.
MVL Group purchased the historic Republic Building, an eight-story, 19,850-square-foot office building at 1018 Preston downtown. Scott Miller, David Cook and Jeff Peden of Cushman & Wakefield represented the seller. Fred Ghabriel of Bejjani & Associates represented the buyer.
Poynter Commercial
Properties Corp. represented the landlord in several leases in Energy Tower, 11700 Katy Freeway. Robert Half International, represented by David Bale and Don Foster of JLL, inked a long-term lease in an expansion for 20,270 square feet. Insperity Support Services, represented by Rich Pancioli and Jay Berry of CBRE, extended its 4,607-square-foot lease. The Wireline Group leased 2,021 square feet. Kevin Poynter and Peyton Poynter represented the landlord, an affiliate of Atcap Partners.
A joint venture of Avid Realty Partners and Electra Capital acquired The Pines at Woodcreek Apartments at 21021 Aldine Westfield Road, Humble. The 330-unit complex was built in 2015. Electra invested $12.2 million of preferred equity, while Avid, in cooperation with Acuity Partners, invested $4.1 million of common equity into the deal. Newmark Knight Frank brokered the transaction.
MSP Drilex leased an 11,375-square-foot industrial property at 21227 HufsmithKohrville Road in Tomball. Mike Spears and Patrick Wolford of Lee & Associates represented the landlord, Epic International. Payton Indermuehle with Keen Realty Group represented the tenant.
Berkeley Eye Center expanded to 20,750 square feet at 3100 Weslayan for four years.
McAlpine Interests represented the tenant. Richard Maloof represented the landlord, Hartman Income REIT.
Farmers Insurance leased 1,200 square feet in the Shops at Grove Park at 7850 W. Grand Parkway South, Richmond. Jesse Hernandez represented the landlord, Hunington Properties.
DML Colony Place LP purchased Colony Place, a 14,050-square-foot shopping center at 4403-4411 Highway 6 in Sugar Land. Ace Schlameus and Jenny Seckinger of Colliers International represented the seller, Hass Holdings. Anita Amin of Preston Cunningham Ventures represented the buyer.
Access Chemicals & Services leased 4,060 square feet of office space at 7322 Southwest Freeway. William McCarthy and Jack Gaffney of Finial Group represented the tenant. Trey Miller with Boxer Property represented the landlord.
Eden Salon Suites will debut at 255 Assay in Generation Park's Redemption Square lifestyle district. The 3,753-square-foot project of McCord Development encompasses a collection of 17 private suites for independent beauty professionals.
Foxhoven purchased a 4,496-square-foot warehouse and office building at 1927 Pinewoods Way in Spring from Xeray Systems. Kimberly DeVos of Cypressbrook Co. brokered the sale.