Article, an online furniture company and home decor brand based in Vancouver, reached a deal with TGS Cedar Port Partners for a 507,000-square-foot build-to-suit warehouse in TGS Cedar Port Industrial Park at 7525 Sutton Road in Baytown. John Simons and Gray Gilbert of NAI Partners represented TGS, which will build and own the building. Andrew Lord and Walker Barnett of Colliers represented the tenant. The deal comes as TGS Cedar Port Industrial Park reached a record 10 million square feet of completed or started construction projects in 2021, including three buildings totaling more than 1.8 million square by TGS Cedar Port Partners.
Westlake Dermatology & Cosmetic Surgery, a private physician-owned practice with 17 locations in Texas, will open its second Houston location at 3636 Westheimer in the River Oaks neighborhood this summer. Michael Hsu Office of Architecture designed the 2,700-square-foot office, remodeling the 1970s-era building with modern expansive windows and natural materials including plaster, white oak, terrazzo, marble, leather and brass. Founded by Dr. Gregory Nikolaidis, the Austin-based practice opened in a new building, also designed by Michael Hsu, at 2132 Bissonnet in the West University area in 2019.
DLP Capital, a private real estate investment and finance firm based in St. Augustine, Fla., expanded its Houston portfolio with the purchase of The Proper, a 235-unit apartment complex at 4971 Martin Luther King Jr. Blvd. near the University of Houston. Developed as 700-bed student housing project by Austin-based Aspen Heights Partners in 2017, the property will be renamed DLP Proper and some of the of the units will be converted into traditional apartments. The property offers one, two, three and four bedroom apartments, a 24-hour fitness center, pool, sand volleyball court, dog park, computer lounge, outdoor fire pit and grilling areas.
ABIS, a provider of business strategies and enterprise software automation tools to drive process improvement across organizations, renewed a lease for 8,659 square feet at 1415 N. Loop West. Boxer Property’s Trey Miller negotiated the renewal with Russell Schulte, CEO of ABIS.
SparrowHawk Nest, an industrial real estate investment firm, purchased properties at 1414 W. Clay Street and 1217 Rosine St. Daniel R. Egger of Provista represented the buyer. Katherine Wildman of Wulfe & Co. represented the seller, 1414 W. Clay Ltd.
Trammell Crow Residential, a division of Dallas-based Crow Holdings, is building apartments designed for middle income renters earning 80 percent to 120 percent of the area median income under the company’s Allora brand. The apartments are in suburban markets with high population and job growth in the southeast and southwestern U.S. Crow has started 2,400 Allora units in three states, with local projects in Friendswood, Spring and northwest Houston, and plans to develop a $1.5 billion portfolio of more than 8,000 additional units across nearly 20 markets. The majority are part of a new joint venture with institutional investors. The buildings have a simplified design that are cost effective to construct, while still offering popular amenities, large living spaces and high-grade finishes.
Williams Industrial Service leased the 6,000-square-foot building in the Lawrence Business Park at 850 Lawrence Road in Kemah. Wayne Rutledge with Rutledge Commercial Real Estate brokered the lease.
Dallas-based Price Realty Corp. acquired the Arlo Memorial Apartments, a 414-unit complex at 935 N. Wilcrest at Interstate 10. The deal represents the fifth property Price Realty has owned and operated in the Houston area, with 1,300 units currently under management. The four-story property was built in 2015. John Brownlee of JLL represented New York Life Real Estate Investors, which provided acquisition financing.
Found Realty, a Houston real estate brokerage owned by Jena Turner, has partnered with real estate company eXp Realty. Agents will have access to growth and development tools on eXp Realty’s virtual platform and a collaborative network of 73,000 agents.
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https://www.houstonchronicle.com/business/texas-inc/article/Real-estate-transactions-Michael-Hsu-16925030.php
