Texas Real Estate Business

MAY 2016

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

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18 • May 2016 • Texas Real Estate Business www.REBusinessOnline.com H O U S T O N LEE & ASSOCIATES ARRANGES INDUSTRIAL LEASE HOUSTON — Communica- tions Test Design Inc. has leased a 114,467-square-foot industrial facility located at 6215 West by Northwest Blvd. in Houston. Mike Spears of Lee & Associates' Houston ofce repre- sented the tenant in the lease trans- action. Ed Frantz from CBRE repre- sented the landlord, DCT West by Northwest LP. ARCHITECTS-PLUS, THREE SQUARE DESIGN GROUP ANNOUNCE MERGER HOUSTON — Architects-Plus and Three Square Design Group have an- nounced that the Houston-based ar- chitecture frms will merge in 2016, launching Method Architecture. The frm will be led by four partners — Keith Holley and Eric Hudson, princi- pals and co-owners of Architects-Plus; Jake Donaldson, founder and prin- cipal of Three Square; and Vanessa Ortega, director of projects at Three Square. Both frms specialize in com- mercial architecture. Collectively, the two frms employ nearly 40 staf mem- bers and completed a combined 700 projects in 2015. Method Architecture will specialize in a wide-array of proj- ect types, including industrial, corpo- rate interiors, healthcare, hospitality, breweries and retail. In June, Method will move into and occupy the entire 10,000-square-foot second foor of a redeveloped industrial building in the EaDo neighborhood of Houston. REGENCY CENTERS, CDC HOUSTON TO DEVELOP RETAIL CENTER SPRING, TEXAS — Regency Centers Corp., in a joint venture with CDC Houston, is set to develop, own and manage The Market at Springwoods Village, a 170,000-square-foot shop- ping center located within the master- planned community of Springwoods Village. The center will be anchored by a 100,000-square-foot Kroger, which will ofer pharmacy and fuel services, alongside other retail and dining tenants. The project is seeking LEED Silver certifcation and is set to feature oversized patios and mature landscaping. Construction on the cen- ter is scheduled to begin this month, with an opening expected for spring 2017. BROKEN BARREL TO OPEN AT ONE LAKES EDGE IN THE WOODLANDS THE WOODLANDS, TEXAS — Bro- ken Barrel is set to open a 3,483-square- foot restaurant on the ground level of One Lakes Edge, an 825,000-square- foot multifamily and retail complex located within Hughes Landing in The Woodlands. Broken Barrel is a wine bar featuring tapas and small plates. Construction will begin on the restaurant in late April, with an ex- pected completion in June. The loca- tion will feature a large outdoor patio overlooking Lake Woodlands. The space is being leased from The Wood- lands Development Co., and will be operated by managing partners Hilda Ysusi, Joaquin Valle and Josh Cundy. NAI PARTNERS, LOGAN BROWN INVESTMENT BROKER SALE OF OFFICE PROPERTY HOUSTON — NAI Partners and Lo- gan Brown Investment Real Estate have arranged the sale of 8700 Com- merce Park Drive, a 78,000-square- foot, multi-tenant ofce property lo- cated in southwest Houston. Doug Pack of NAI Partners and Logan Brown of Logan Brown Investment Real Estate represented the seller, Los Angeles-based Khoshbin Co., in the sale of the property to an unnamed lo- cal investor. MARCUS & MILLICHAP ARRANGES SALE OF 18,582 SF RETAIL PROPERTY SPRING, TEXAS — Marcus & Mil- lichap has arranged the sale of Spring Crossing Retail Center, a 18,582-square-foot shopping center located in Spring. The asset had a list price of $4.1 million. Nate Newman of Marcus & Millichap represented the seller, a local developer, and Allen Smith of Marcus & Millichap repre- sented the buyer, a TIC partnership, in the transaction. COUSINS PROPERTIES SIGNS HEADQUARTERS LEASE WITH COMMUNITYBANK OF TEXAS HOUSTON — Cousins Properties Inc. has signed a 12-year, 29,000-square- foot headquarters lease with Commu- nityBank of Texas, NA at 9 Greenway Plaza in Houston. Greenway Plaza is a 10-building, 4.4 million-square-foot ofce portfolio. The space leased in 9 Greenway Plaza provides the bank frst foor lobby presence and tower space on the ninth foor for bank ex- ecutives and personnel, according to Bob Boykin, senior vice president and market leader for Cousins Prop- erties. Charlie Neuhaus and Harry Holmes of Avison Young represented CommunityBank of Texas in the lease transaction. Boykin, Bubba Harkins and Warren Savery represented Cous- ins Properties in-house. WHISKEY CAKE KITCHEN & BAR TO OPEN IN KATY KATY, TEXAS — Dallas-based Front Burner Restaurants will open a Whis- key Cake Kitchen & Bar location in Katy at the 120-acre Verde Parc. The 8,500-square-foot restaurant will open this fall and will be situated on a 2.5-acre tract fronting I-10. Whiskey Cake Kitchen & Bar ofers entrées like mesquite grilled steak and fsh and smoked duck, as well as appetizers like green tomatoes and deviled eggs. The bar is stocked with 24 craft beers, 100 small batch bourbons, whiskeys and scotch and 30 varieties of wine. Whiskey Cake currently operates lo- cations in northwest San Antonio, Plano and northwest Oklahoma City. Parkside NEC Grand Parkway/I-10 Ltd. was the seller. Hugh Ruggles of NewQuest Properties was the deal's sole broker. Parkside Capital bought the Verde Parc land in January 2014 from Indianapolis-based Simon Prop- erty Group. SIMON TO BUILD LUXURY HOTEL, RESIDENTIAL TOWER AT THE GALLERIA HOUSTON — Simon Property Group plans to add a luxury hotel and resi- dential tower to The Galleria, a pre- mier shopping destination in Hous- ton. The hotel and residences, which will both be located in the same build- ing, will be situated on the corner of Sage and West Alabama streets. The project is part of a multi-year transfor- mation of The Galleria, which began with the creation of a 200,000-square- foot fagship Saks Fifth Avenue store adjacent to the current location. Once the new Saks store opens later this month, Simon will convert the exist- ing Saks store into a multi-level mall extension featuring 110,000 square feet of space. The tower will be on the site of a former Macy's store and will span between 25 and 30 stories. Groundbreaking is expected in late 2017. Whiskey Cake Kitchen & Bar offers entrées like mesquite grilled steak and fsh and smoked duck, as well as appetizers like green tomatoes and deviled eggs. Broken Barrel will open on the ground level of One Lakes Edge, an 825,000-square- foot multifamily and retail complex located within Hughes Landing in The Woodlands.

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