HOUSTON-Midland Reclamation Co. of Dow, IL is setting up shop in the city in a freestanding building at 131 Eichwurzel Lane under a medium-term lease with a purchase option clause for it and a 12,000-sf neighbor, which are on the market for $550,000.
HOUSTON-Charlesbank Capital Partners, Winston Hotels and Concord Hospitality acquire the 190-room Best Western Park Place near the Medical Center. The JV spends $10 million for the deed and will put out another $5 million to renovate and re-flag it.
HOUSTON-Marquez Brothers International of San Jose, CA leases 16,800 sf with a medium-term signing in a recently finished 97,050-sf warehouse on the east side of town. The tenant will be supplying Mexican-style foods to chains like H-E-B.
HOUSTON-For the next two years, the name is Trione & Gordon-CBRE and then it's just CB Richard Ellis. Under the deal, Trione & Gordon is in charge of tenant representation and corporate services in the city and the lead for CBRE's global energy practice.
HOUSTON-Volume Millwork relocates from the suburb of Tomball into a 23,500-sf spot in the Northwest Green Business Park, making a five-year commitment for production and office space. A seismic data services company takes 5,292 sf for three years.
HOUSTON-With eyes on retirement, the locally based investor takes the first solid deal that comes along for the 1.3-acre asset at 5097 Ashley Court in the Brittmoore Tanner Business Park. The empty 16,000-sf building asking price was $44 per sf.
HOUSTON-A local investor passes off the title to a pair of buyers with other restaurant holdings around town. The sale closes after the 14-year tenant signs for another five years at 913 Westheimer Rd. inside the Loop.
HOUSTON-A partnership of principals from NAI Partners Commercial spend far less than the $620,000 asking price, using 1031 Exchange capital to close the deal with Kellogg, Brown & Root. Now, the Hirsch Road property will be remodeled and leased.
HOUSTON-Real estate sources say the Dallas buyer has put up in the low $80 per sf range for the class A office building at 10370 Richmond Ave. Alder Property Association is the seller of the 83%-occupied building.
HOUSTON-A foreign investor buys the 53,308-sf office building at 11222 Richmond Ave. from McClelland Partners of Denver after one buyer failed to make the close. The 21-year-old building sells for close to the $3.5-million list price.