CenterPoint Properties expands Houston industrial portfolio
CenterPoint Properties purchased a 601,261-square-foot industrial building on 31 acres at 3507 Pasadena Freeway in Pasadena near the Port of Houston. The building is served by Union Pacific, BNSF and Kansas City Southern via the Port Terminal Railroad Association. It has a 32-foot clear-height, 62 dockhigh and 21 rail doors, outside storage and trailer parking.
“The asset aligns extremely well with CenterPoint’s national port investment strategy,” Rives Nolen, CenterPoint’s senior vice president for investments said in an announcement.
Rusty Tamlyn, Trent Agnew and Charles Strauss of JLL Capital Markets brokered the transaction between CenterPoint and Link Logistics Real Estate.
Prior to the acquisition, CenterPoint’s Houston portfolio totaled 5.94 million square feet across 37 properties. The company is not affiliated with Houston’s CenterPoint Energy.
Sealy & Co. acquired a fullyleased 663,821-square-foot distribution warehouse at 8800 CityPark Loop in northeast Houston. The facility, on more than 40 acres near Loop 610 at McCarty Drive, has access to two Union Pacific rail intermodal yards and more than 200 trailer parking spaces. Scott Sealy Jr. and Jason Gandy of Sealy worked with Tom Lynch and Faron Wiley of CBRE to acquire the property from First
Industrial Real Estate Trust.
PCCP provided an $86.3 million senior loan to Madera Residential for the acquisition and renovation of the 620-unit Domain and Lofts at CityCentre apartments at 811 Town and Country Blvd. The property is 94 percent leased. Domain is in one building with 370 units and Lofts has two residential buildings totaling 250 units. The ground floor retail is not part of the acquisition. Madera Residential owns and manages 14,000 units in Houston and Dallas-Fort Worth.
MLG Capital acquired the Heights at Harper’s Preserve, a 328-unit apartment complex at 17116 Harpers Trace in Conroe. Built in 2017, the property is in the Harper’s Preserve masterplanned community. Based in Brookfield, Wis., MLG has invested in nine Houston-area properties totaling about 2,600 units.
The Bascom Group acquired the 350-unit Cantera at Towne Lake Apartments at 17807 Lakecrest View Drive in Cypress. Built in 2006, the complex is in the Towne Lake community developed by Caldwell Cos. Brian Eisendrath, Annie Rice and Samantha Jay with CBRE Capital Markets sourced the Freddie Mac senior loan debt financing. David Mitchell with Newmark was the broker. James D’Argenio and Chang Liu sourced and managed the acquisition for Irvine, Calif.-based Bascom.
Allied Orion Group has been chosen to manage Los Prados Apartments, a 264-unit apartment community at 125 Dyna Drive in north Houston. The property is owned by GenWealth Capital Group.
signed a long-term headquarters lease for 105,300 square feet at West Sam Houston Business Park, 10111 Houston Oaks Drive. Jason Gibbons and Chase Tucker of Finial Group assisted Power Manufacturing, which will occupy both buildings in the park.
formed a partnership with Enwave Energy Corp. to provide cooling services to its recently renovated Houston Center complex. Enwave, an affiliate of Brookfield Asset Management, operates a district cooling network in downtown Houston, including commercial office buildings, retail businesses, schools, hotels, theaters and a ballpark. By replacing outdated systems and improving efficiencies through incorporating Houston Center in Enwave’s network, the partnership will result in less water and energy usage, according to Brookfield. Houston Center consists of LyondellBasell Tower, 2 Houston Center, Fulbright Tower, 4 Houston Center and The Shops at Houston Center.
Bath & Body Works leased 4,000 square feet in the Grand at Aliana, a development of NewQuest Properties at West Grand Parkway South and West Airport Boulevard in Richmond. Josh Friedlander and David Meyers of NewQuest Properties represented the landlord. Mike Wheeler of Streetwise Retail Advisors represented Bath & Body Works, which is targeting an April opening. Additionally, Chicken Kitchen leased 1,400 square feet for a location to open this year and Joint Chiropractic leased 1,050 square feet to open in 2022. Brad Kilbride of Lee & Associates represented Chicken Kitchen. Jim Pappas represented Joint Chiropractic. Michaels, Ross Dress for Less and Ulta are preparing to open in March. More than half of the planned 400,000 square feet at Grand at Aliana has been built or is under construction.
Sun & Soil Plant Parlor will debut in Building 1 at M-K-T Heights, at 600 N. Shepherd, during the first quarter. The shop will help customers appreciate, curate and select the right houseplants for their space. M-K-T is a trail-oriented mixeduse development of Triten Real Estate Partners, Radom Capital and Long Wharf Capital. Other new health and wellness tenants include Union Studio Yoga; Go Easy, a Dallas-based “self-care” outpost for women; and Treadwell, a men’s grooming and wellness provider.
Shogun Group Corp. purchased a 4,993-square-foot former IHOP restaurant on 1.1 acres at 15444 Texas 105 W., Montgomery. Bob Conwell and Austen Baldridge of NewQuest Properties represented the buyer. Jazz Hamilton and Rusty Lilley of CBRE represented the seller, Sagamore Hill Holdings.
La Sipota Ice Cream & Smoothie leased 1,044 square feet at Southgate Shopping Center. The center, at West Fuqua Road and Hiram Clarke Road, is anchored by Foodarama, CVS and Family Dollar. Christi Davis
Vinzant, leasing executive at Weingarten Realty represented the landlord.
Perspire Sauna Studio ,an infrared sauna franchise based in Newport Beach, Calif., has targeted Houston as a new market. The company plans to award 20 new franchises across the Houston area, beginning with five locations over the next three years. The studios typically occupy 1,500 square feet in grocery-anchored strip centers and create eight to 10 jobs.
America’s Best Contacts & Eyeglasses opened a location at Brazos Town Center, at 23515 Brazos Town Crossing in Rosenberg. The company is a division of National Vision.
The Chipper leased 1,377 square feet at Pin Oak Village, 1251 Pin Oak, Katy. Dani Allison and Rick Gutierrez of Resolut RE represented the landlord. Ryan King of Finial Group represented the tenant.
Clean Vegg Kitchen, a restaurant offering a plant-based and pescatarian menu through online ordering for take-out or delivery, opened at 5832 Fairdale Lane in the Galleria area. The restaurant was founded by chef Wes McVicker. Visit CleanVegg.com or @cleanvegg on Instagram and Facebook.