Braun has some big plans for Inner Loop purchase
Houston-based Braun Enterprises has added to its portfolio with the purchase of a 90,423-square-foot office building on Old Katy Road.
The multitenant building, located just inside Loop 610 north of Interstate 10, was purchased from Houston Eye Associates, according to Colliers International. The two-story building, situated on 4.2 acres, is in an area with multifamily, industrial and office buildings, not far from Memorial Park and the Heights neighborhood.
“Braun Enterprises is thrilled to announce the acquisition of 7155 Old Katy Road and will rebrand and redevelop this unique, boutique building that caters to small tenants,” Braun’s James Fitch said in an announcement. The company plans to renovate the exterior and interior of the office buildings, including building out a substantial amount of space for its Urban Office concept, locations with office suites, conference rooms and coffee bars.
Other Urban Office buildings are in the Galleria and Heights areas. The company, which has purchased and redeveloped about 3.5 million square feet of commercial real estate projects, has redeveloped several retail buildings in the Inner Loop and Spring Branch areas.
The deal closes as office vacancy in Houston continues to rise as the local economy
battles the impact of the coronavirus. The vacancy rate rose to 22.3 percent in the first quarter, up from 20 percent a year ago, Colliers reported.
David L. Carter and Taylor Wright of Colliers marketed the property, which is in the North Loop West office submarket where buildings average 17.6 percent vacancy. The sales price was not disclosed. Montgomery County surgery center HCA Healthcare Ambulatory Surgery Division broke ground on Willis Surgery Center in Willis, about 50 miles north of downtown Houston.
The single-story, 19,000square-foot outpatient surgery center at 9863 FM 1097 Road West is planned for completion in spring 2022.
The center is affiliated with HCA Houston Healthcare Conroe and jointly owned with HCA Healthcare.
The project is in a growing area of Montgomery County that includes the 2,000-acre The Woodlands Hills community.
The multispecialty center will offer orthopedic, spine, foot and ankle, hand, gynecologic, urologic, gastroenterological and general surgery procedures.
It will have four operating rooms and two procedure rooms and a private patient registration area.
Dr. John Tanksley, an orthopedic surgeon at Forest Lake Bone & Joint and one of 24 partners in the center, said the surgery center will offer patients in north Montgomery and Walker counties a convenient and cost-effective environment for receiving outpatient surgeries and procedures.
The HCA Healthcare Ambulatory Surgery Division operates 144 ambulatory surgery centers throughout the U.S., including nine in the Houston area.
The centers are jointly owned with physicians. HCA Houston Healthcare Conroe is a 328-bed hospital facility.
Meritage Homes debuts in Conroe
Meritage Homes has acquired 129 acres in Conroe for the development of Montgomery Oaks, a community of nearly 480 homes.
The land is west of Interstate 45, just south of League Line Road, within the Willis Independent School District.
Pre-sales have begun and prices are expected to start in the mid-$200,000s.
Meritage plans to build 265 homes ranging from 1,250 to 2,282 square feet on 40-by-120-foot lots.
It will build 214 homes ranging from 1,666 to 3,016 square feet on 50-by-120foot lots.
Two model homes will open in July.
Based in Scottsdale, Ariz., Meritage Homes builds in more than 30 communities across the Houston market.