Real estate briefs: Deals span downtown, Woodlands, Baytown, Ship Channel
Ernst & Young, a longtime tenant at downtown’s 5 Houston Center, has signed a 120,827-square-foot renewal with Spear Street Capital. The deal represents a relocation to floors near the top of the building at 1401 McKinney. Tyler Garrett of Transwestern represented the landlord. Glenn Dyke, Sanford Criner and Jeff Cairns of CBRE represented the tenant.
Trammell Crow Co. and partner Artis REIT broke ground on a 519,224-square-foot, rail-served distribution facility at 5055 E. Grand Parkway South in Baytown to expand Plastic Bagging & Packaging’s operations in the Cedar Port Industrial Park. Jim Pratt and Mike Taetz with Colliers International represented PBP in the build-to-suit lease. EE Reed Construction is handling construction, while Powers Brown Architecture, Landev, Kimley-Horn, RITD, Binkley & Barfield and Bihner Chen provided design work. Completion is planned in summer 2019.
Hines has sold a 447,605-square-foot property on 41.5 acres at 13770 Industrial Road on the Houston Ship Channel to an undisclosed family. The property, which included nine buildings in the Greens Port Industrial Park, is fully leased to AFGlobal Corp., a provider of products and services to the oil and gas and other industries. Todd Moore of Stan Johnson Co. represented the seller.
SJBC Commercial XIX has purchased 2700 Research Forest, a single-story, 74,940-square-foot office building in The Woodlands, from Dallas-based Novel Office Systems/Soft-Tech SM. The campus, on 8 acres at Research Forest Drive and New Trails Road, is 100 percent leased by eight tenants. Jeff Beard of The J. Beard Real Estate Co. brokered the sale and his firm will provide leasing and property management.
TriArc Properties has refinanced the recently renovated 4 Eighty West Parker apartments. The property, consisting of 12 two-story buildings on 5.6 acres at 480 W. Parker, is 93.7 percent occupied. Cortney Cole and Sterling Curry of HFF arranged the 5-year, fixed-rate loan through Green Bank.
The recently combined Madison Marquette and PMRG will transition to the Madison Marquette corporate brand throughout the fourth quarter, the company announced. The Washington, D.C.-based company has a major presence in Houston.
Road REH#2 has purchased 18,890 square feet of industrial space at 8902 and 8904 FM 2920 in Spring. Mike Spears and Nick Bergmann of Lee & Associates represented the seller, AMT Properties. Clint Hankla with Lee & Associates represented the buyer.
Southwest Electrical Contracting Service renewed a lease for 5,000 square feet at 10159 Windfern. Patrick Wolford of Lee & Associates represented the landlord, Jarrar Holdings. Brent Fredricks of Moody Rambin represented the tenant.