HOUSTON-BH Properties offers $3.3 million in cash and a quick close to outpace competitors for the 124,704-sf shopping center along Uvalde Road near the ship channel. Another $1 million or more will go into readying the asset for repositioning.
HOUSTON-Mustang Mill Supply takes 10,000 sf at 3611 Clinton Dr. and Pacific Coast Retreaders moves into a 9,993-sf building at 3703 Lapas Dr. Both are medium-term deals for warehouses on the eastern side of town.
HOUSTON-Provident Realty Advisors of Dallas, with financial backing from CharterMac and Related Capital, is building its first affordable project in town. The 238-unit project is going up on 33.6 acres at Veterans Memorial Drive and Gears Road.
HOUSTON-A three-year tenant, Alpine Mud, re-ups for another three years on 6,375 sf at 1500 N. Post Oak Road. Also in the northwest submarket, Keystone Imports signs a medium-term lease for 6,272 sf at 4102 Way Out West Dr.
HOUSTON-The appetite for net-leased assets is the impetus behind the decision to sell rather than refinance the one-year-old store. The bidding war for the Academy Sports store, with a 20-year lease, most likely brought $60 per sf to $75 per sf.
HOUSTON-Weatherford International hands off the deed for a 1950s-era building at 1020 Fennell St. to Midgard Mortgage Co. after waiting since May 2003 for the deal to close. The building is leased to a floor covering company.
HOUSTON-Investors from Stuttgart, Germany, secure $17.9 million to acquire the 252-unit San Melia complex near the Houston Medical Center. The loan, funded by Freddie Mac, has a 75% loan-to-value ratio.
HOUSTON-Silvis Antiques will relocate next month to a 3,249-sf spot in Village Green from a nearby center in the southwest submarket. Meanwhile, Cy-Fair Town Center on the north side lands Bella De Cor for 1,436 sf, and Vickie Lynn's for 1,400 sf.
HOUSTON-Williford Property Group will manage 750 and 800 Bering Dr. while leasing duties fall to a Cushman & Wakefield team in Houston. The changing of the guard results from the December sale of the class A pair to a local investor.
HOUSTON-Two newcomers and a renewal deliver a leasing round that boosts occupancy to 82% in the 619,000-sf office tower. The law firm of Duane Morris has gotten its keys while a cardiovascular equipment designer and maker is making plans for the move.