Nashville investor buys northwest Houston shopping center
Highland Capital, an investment group based in Nashville, acquired the 195,575-square-foot Steeplechase Center at 10705-10951 Jones Road and FM 1960 in northwest Houston. John Indelli and Ryan West of JLL represented the seller, Jones 1960 Crossroads LLC. The neighborhood power retail center is 82 percent leased to tenants including Dollar Tree, dd’s Discounts, 99 Cents Only, Goodwill, Melrose, Citi Trends, Uptown Beauty, Big City Wings, Leslie’s Pools, Rent a Center and La Reyna Tortilleria.
“Capital continues to seek Texas retail centers with buyer demand outstripping supply of retail deals,” Indelli said in an announcement. “Investors liked Steeplechase’s national tenant lineup, four-pad buildings and value-add potential via lease up and rental rate upside.”
River Oaks District, a luxury development at 4444 Westheimer managed by the Festival Cos., welcomes new restaurants. Bari Ristorante, a classic Italian restaurant serving lunch and dinner daily and weekend brunch across the plaza from French restaurant Toulouse, is led by Executive Chef Renato De Pirro. Ojo de Agua, an all-day healthy cafe and juice bar with 40 locations across Mexico City and one in Miami, is now open at Westcreek Lane and Bettis Drive, across from Hopdoddy Burger Bar. The 3,200-square-foot restaurant has seating for 110 indoors plus 30 across the patio and terrace. The restaurant serves fresh juices, smoothies, breakfast, lunch and dinner with dishes such as acai bowls, chilaquiles, pesto bowls served with either salmon or tuna and ribeye tacos marinated in chimichurri.
Humble-based Phoenix Oil, a subsidiary of Adams Resources & Energy, acquired 11 acres at Gulf Inland Logistics Park, a 1,350-acre business park at U.S. 90 and the Grand Parkway in Dayton, for expansion of its Gulf Coast operations. Liberty Development Partners, a venture of Connor Investment Real Estate and Logistics and Development Resources, is developing the rail-served Gulf Inland Logistics Park to cater to industrial and manufacturing companies. Phoenix Oil specializes in oil blending, processing and trading with sales throughout the United States.
DHL opened a solar powered, 2,200-cubic-foot mobile pop-up store at the Richmond Square shopping center at 5133 Richmond. The expansion, one of three pop-ups in the Houston area along with Claymoore Park Drive and Presidio Square Shopping Center, addresses the Houston region’s increasing immigrant population and rising demand for international shipping services, according to Chet Paul, senior vice president of commercial for DHL Express U.S. DHL also operates two service centers and teams with delivery partners at 150 locations in the Houston metro area.
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DHL Express has opened a mobile pop-up store at Richmond Square, 5133 Richmond Ave., to provide convenient shipping services to customers.
DHL ExpressRaising Cane’s Chicken Fingers, a Plano-based chain with more than 700 locations, opened its 51st restaurant in the Houston area. Raising Cane’s joins more than 1.5 million square feet of shops and restaurants in Valley Ranch Town Center, a development of Signorelli Co. at U.S. 59 and the Grand Parkway in New Caney. The location at 109 Eagles Run Drive has a drive thru, dine-in area and outdoor patio.
Houston developers Milton Allen and Bobby Ferguson are developing several Grand Park office condo communities for sale to entrepreneurs who want to own their office space. Two of the projects are in Richmond, southeast of the Grand Parkway and Westpark Tollway. Grand Park Professional Place at 7103 S. Peek Road is planned for 10 buildings, ranging from 4,500 square feet to 6,500 square feet, that can be divided into smaller, separately owned spaces. Grand Park West is nearby, at 21611 FM 1093. The projects, which are in various stages of completion, are attracting medical and health care professionals, according to Milton Allen. Prices range from $315 to $350 per square foot, depending upon interior finishes.
Grand Park Professional Place offers office condos for sale on South Peek Road in Richmond. The buildings have attracted medical and health care professionals, said Houston developer Milton Allen.
Grand ParkZeno Truck Parts leased 12,564 square feet at 4007 Greenbriar, Suite D, Stafford. Dylan Stiteler of Oxford Partners represented the tenant. William Carpenter of Stream Realty Partners represented landlord, DRA Advisors.
Advantek Waste Management leased 3,088 square feet at 11000 Richmond. Ryan Hartsell of Oxford Partners represented the tenant. Matthew Asvestas & Danielle Rothchild of Stream Realty Partners represented the landlord, Woodbranch Management.
Bull Safe USA purchased a 1,250-square-foot unit at Big Tex Garage Condos at 15820 Telge Pines Drive in Cypress. Kimberly DeVos of Cypressbrook Co. represented the buyer. The seller, Telge Pines 20 LLC, was represented in-house by Michael Everson.
Quick ‘n Clean Carwash acquired a 2-acre tract at FM 762 and Wildwood Park Road, Richmond. Nick Ramsey of NewQuest Properties represented the buyer. Jennifer Johnson of Johnson Commercial Partners represented the seller, HW 589 Holdings LLC.
