Houston Chronicle

Younan Properties acquires Energy Corridor office building

- By Katherine Feser STAFF WRITER katherine.feser@chron.com twitter.com/kfeser

Younan Properties expanded its Houston portfolio with the acquisitio­n of Two Westlake Park, a 455,000-square-foot office building within the 58acre Westlake Park developmen­t in the Energy Corridor. The building was owned by Pimco before being foreclosed upon last year after losing two major tenants. Dan Miller and Martin Hogan of JLL Capital Markets represente­d the seller. It is the second time for Younan to buy the building, last owning it in 2011.

“This is part of our ongoing expansion in the Houston office market with value-added opportunit­ies that possess significan­t upside potential,” CEO Zaya S. Younan said in an announceme­nt. “Our strategy is to reposition this asset with creative renovation plans and updated amenities for tenants to enjoy.”

Stonelake Capital Partners purchased 6161 Bingle, a 127,513square-foot industrial building on 17 acres near U.S. 290 in northwest Houston. Andy Sowell of Boyd Commercial represente­d the seller, Graybar Electric Co. In conjunctio­n with the purchase, Boyd Commercial’s David Munson and Wes Williams arranged a full-building lease with Hannibal Industries, a manufactur­er of steel pallet racks.

Inway Oaks JV purchased 44.25 acres at 26008 Riley Road, Waller, from Schwindmoo­re Forest LLC. Randy Nerren of NewQuest Properties represente­d the buyer. Brenda Pennington of B. Pennington Commercial Real Estate represente­d the seller.

Global Student Housing Houston purchased a 1.2-acre developmen­t site at Scott and McGowen streets near the University of Houston. Brad LyBrand of NewQuest Properties represente­d the seller, RSB Ventures.

Partners Capital, the investment arm of NAI Partners, announced two medical office leases at its recently renovated building at 11301 Fallbrook in northwest Houston. Dr. Regina Lewis with Texas Orthodonti­c Specialist­s, Dr. Stephen Chen with Texas Orthodonti­c Specialist­s and Dr. Joseph Chen specializi­ng in oral and maxilla-facial surgery signed a lease for 6,293 square feet. Touchstone Medical Imaging/Steeplecha­se Diagnostic Center leased 6,983 square feet. Lesley Rice and Andy Parrish of NAI Partners represente­d the landlord.

Equus Capital Partners

obtained loans totaling $40 million to refinance the recently renovated 5300 Memorial and 10497 Town & Country office buildings. Jon Ream of JLL Capital Markets arranged the five-year, floatingra­te loans through East West Bank. The 5300 Memorial building contains 153,671 square feet and is 93 percent leased, while 10497 Town & Country totals 149,309 square feet and is 91.5 percent leased.

Geirin North Shepherd LLC purchased an 84,200-squarefoot, multi-tenant industrial building at 5708 N. Shepherd Drive. John Ferruzzo and Nick Peterson of Transweste­rn Real Estate Services represente­d the buyer. David Munson and David Boyd of Boyd Commercial represente­d the seller, the Estate of Frank D. Adams.

Ingenero leased 2,595 square feet of office space at 4615 Southwest Freeway. John Hornbuckle of Cypressbro­ok Co. represente­d the landlord, EP Office Holdings. Charles Fertitta of Colliers Internatio­nal represente­d the tenant.

Long View Equity Partners IV acquired 6015 Skyline Drive, a 36,596-square-foot industrial building from Accent Sign & Awning in a sale-leaseback transactio­n. The seller, a manufactur­er of custom electric signs and awnings since 1979, will continue to occupy the property.

Cierra Tank Services purchased a 6,300-square-foot industrial building at 14814 Park Almeda Drive from K &K DePeuter Investment­s (DePeuter Electrical Solutions). Tony Orozco of EXP Realty represente­d the buyer. Jason Gibbons, Doc Perrier and Jack Gaffney of Finial Group represente­d K&K DePeuter Investment­s in the sale and in a new lease at 103 Riley Road.

VP 2020 purchased 3.14 acres at 134 Vision Park Drive, Shenandoah. Keagan LeBlanc of Pinecroft Realty represente­d the buyer. Greg Usher of Cypressbro­ok Co. represente­d the seller, Cypressbro­ok Vision Park LP.

 ?? JLL ?? Equus Capital Partners is refinancin­g the recently renovated 5300 Memorial and 10497 Town & Country office buildings.
JLL Equus Capital Partners is refinancin­g the recently renovated 5300 Memorial and 10497 Town & Country office buildings.

Newspapers in English

Newspapers from USA