Houston Commercial Real Estate Blog
Leasing Space in Houston
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RETAIL: Auto Pak-USA purchased a 39,204 square-foot property for a car lot at 4515 Texas 6 from Regions Bank. Randy Connell of Coldwell Banker Commercial United, Realtors represented both parties.
RETAIL: Realty 1 Properties purchased a 4,464-square-foot property at 6238 Richmond from IB Property Holdings. Vince Elder of Coldwell Banker Commercial United, Realtors represented the seller.
LAND: John Lawrie Inc. purchased 17 acres on Miller Road #1 near U.S. 90 in eastern Harris County for expansion of the company’s existing oil field pipe operations in the area. The seller was Guadalupe Ramirez. Andrew Sowell and Mike Boyd of Boyd Commercial represented the buyer.
Leases
RETAIL: Bulldog Burrito leased 2,500 square feet in College Park Village, 3335 College Park Drive, in The Woodlands. Javier Fernandez of Uptown Real Estate Group represented the tenant. Neal Wade of AmREIT represented the landlord, AmReit Monthly Income & Growth Fund.
RETAIL: VIP Nails leased 1,441 square feet at Market at Lake Houston, 7405 FM 1960 East. Peter Park represented the tenant. Neal Wade of AmReit represented the landlord, AmReit Lake Houston.
RETAIL: European Wax Center leased 1,182 square feet in the Plaza in the Park, 5150 Buffalo Speedway. Matt Reed of NewQuest Properties represented the tenant. Jodie Pearson of AmReit represented the landlord, AmReit Plaza in the Park.
RETAIL: Glass Doctor of The Woodlands leased 1,500 square feet at the Portofino Plaza on Interstate 45 North in The Woodlands market. Jeff Tinsley of The J Beard Real Estate Co. represented the landlord.
RETAIL: Deli Express renewed its lease of 6,413 square feet at 3460 Yale. Patrick Rollins of CB Richard Ellis represented the landlord, Cabot II–TX2M01, TX2W05, TX2W05-W09.
OFFICE: Frost National Bank renewed its lease of 18,816 square feet at 6750 West Loop South. Bill Boyer and Charles Gordon of CB Richard Ellis represented the tenant. Brian Strait of Navisys Group represented the landlord, McCord Development.
OFFICE: Fluenta leased 2,596 square feet in Ashford 6. Randy Mason of Colliers International represented the tenant. Bob Cromwell and Kevin Nolan of Moody Rambin Interests represented the landlord, Falcon Southwest.
OFFICE: Kingsmill Riess leased 2,175 square feet at 801 Travis. Candace Baggett of Calibre Group represented the tenant. Bob Cromwell and Kevin Nolan of Moody Rambin Interests represented the landlord, Goddard Investments.
OFFICE: Dale Carnegie leased 5,497 square feet in Ashford Crossing, 1880 Dairy Ashford. Theodore Brakatselos of Houston Site Acquisition represented the tenant. Terri Torregrossa of Moody Rambin Interests represented the landlord, Kennedy Wilson.
RETAIL: Ruby Tequila’s Mexican Kitchen has entered the Houston market with a lease of 6,800 square feet at the Commons at Willowbrook Shopping Center at FM 1960 and Texas 249. The Candle Warehouse has also leased 5,000 square feet at the same location. Greg Slusky of The Retail Connection represented Ruby Tequila’s Mexican Kitchen. Alex Makris, Jazz Hamilton and Matt Keener of CB Richard Ellis represented the landlord, The Commons at Willowbrook, on both transactions.
RETAIL: KCM Superstore leased 36,280 square feet at the Pointe West Shopping Center, 300 S. Mason Road, Katy, Doug Freedman of United Equities represented the landlord, Point West Center. Brenda Campbell with Re/Max Fry Road represented the tenant.
OFFICE/WAREHOUSE: Source Refrigeration & HVAC leased 10,500 square feet at 23235 Tomball Parkway. Joe MacDougall of MacDougall & Co. represented the landlord, 23235 Tomball Parkway Ltd. Jarrett Venghaus of Jones Lang La Salle represented the tenant.
RETAIL: Buffalo Wild Wings Bar & Grill leased 5,800 square feet of space at Greenway Commons, a Costco and LA Fitness anchored shopping center at Weslayan and Richmond.
RETAIL: Auto Pak-USA purchased a 39,204 square-foot property for a car lot at 4515 Texas 6 from Regions Bank. Randy Connell of Coldwell Banker Commercial United, Realtors represented both parties.
RETAIL: Realty 1 Properties purchased a 4,464-square-foot property at 6238 Richmond from IB Property Holdings. Vince Elder of Coldwell Banker Commercial United, Realtors represented the seller.
LAND: John Lawrie Inc. purchased 17 acres on Miller Road #1 near U.S. 90 in eastern Harris County for expansion of the company’s existing oil field pipe operations in the area. The seller was Guadalupe Ramirez. Andrew Sowell and Mike Boyd of Boyd Commercial represented the buyer.
Leases
RETAIL: Bulldog Burrito leased 2,500 square feet in College Park Village, 3335 College Park Drive, in The Woodlands. Javier Fernandez of Uptown Real Estate Group represented the tenant. Neal Wade of AmREIT represented the landlord, AmReit Monthly Income & Growth Fund.
RETAIL: VIP Nails leased 1,441 square feet at Market at Lake Houston, 7405 FM 1960 East. Peter Park represented the tenant. Neal Wade of AmReit represented the landlord, AmReit Lake Houston.
RETAIL: European Wax Center leased 1,182 square feet in the Plaza in the Park, 5150 Buffalo Speedway. Matt Reed of NewQuest Properties represented the tenant. Jodie Pearson of AmReit represented the landlord, AmReit Plaza in the Park.
RETAIL: Glass Doctor of The Woodlands leased 1,500 square feet at the Portofino Plaza on Interstate 45 North in The Woodlands market. Jeff Tinsley of The J Beard Real Estate Co. represented the landlord.
RETAIL: Deli Express renewed its lease of 6,413 square feet at 3460 Yale. Patrick Rollins of CB Richard Ellis represented the landlord, Cabot II–TX2M01, TX2W05, TX2W05-W09.
OFFICE: Frost National Bank renewed its lease of 18,816 square feet at 6750 West Loop South. Bill Boyer and Charles Gordon of CB Richard Ellis represented the tenant. Brian Strait of Navisys Group represented the landlord, McCord Development.
OFFICE: Fluenta leased 2,596 square feet in Ashford 6. Randy Mason of Colliers International represented the tenant. Bob Cromwell and Kevin Nolan of Moody Rambin Interests represented the landlord, Falcon Southwest.
OFFICE: Kingsmill Riess leased 2,175 square feet at 801 Travis. Candace Baggett of Calibre Group represented the tenant. Bob Cromwell and Kevin Nolan of Moody Rambin Interests represented the landlord, Goddard Investments.
OFFICE: Dale Carnegie leased 5,497 square feet in Ashford Crossing, 1880 Dairy Ashford. Theodore Brakatselos of Houston Site Acquisition represented the tenant. Terri Torregrossa of Moody Rambin Interests represented the landlord, Kennedy Wilson.
RETAIL: Ruby Tequila’s Mexican Kitchen has entered the Houston market with a lease of 6,800 square feet at the Commons at Willowbrook Shopping Center at FM 1960 and Texas 249. The Candle Warehouse has also leased 5,000 square feet at the same location. Greg Slusky of The Retail Connection represented Ruby Tequila’s Mexican Kitchen. Alex Makris, Jazz Hamilton and Matt Keener of CB Richard Ellis represented the landlord, The Commons at Willowbrook, on both transactions.
RETAIL: KCM Superstore leased 36,280 square feet at the Pointe West Shopping Center, 300 S. Mason Road, Katy, Doug Freedman of United Equities represented the landlord, Point West Center. Brenda Campbell with Re/Max Fry Road represented the tenant.
OFFICE/WAREHOUSE: Source Refrigeration & HVAC leased 10,500 square feet at 23235 Tomball Parkway. Joe MacDougall of MacDougall & Co. represented the landlord, 23235 Tomball Parkway Ltd. Jarrett Venghaus of Jones Lang La Salle represented the tenant.
RETAIL: Buffalo Wild Wings Bar & Grill leased 5,800 square feet of space at Greenway Commons, a Costco and LA Fitness anchored shopping center at Weslayan and Richmond.
Theodore Brakatselos is the President of Houston Site Acquisitions, a commercial real estate company. He has over 17 years of experience in commercial real estate and has represented a broad range of tenants and landlords over his career including star-up companies, publicly held companies, and overseeing portfolios for institutional landlords & investors. You can reach Theodore at 713-789-8700 or via the Web at www.hsaleasing.com
Landry’s Okay’s $1.2B Merger Agreement
By Amy Wolff Sorter
http://www.globest.com/news/1531_1531/houston/182009-1.html?st=rss
HOUSTON-After a year-long struggle, Landry’s Restaurants Inc.’s board of directors has entered into a definitive merger agreement with a company owned by Landry’s founder, chairman and CEO Tilman Fertitta. The Fertitta company has agreed to acquire all of Landry’s outstanding common stock for $14.75 per share in cash, or $1.2 billion, which will take Landry’s private.
According to a statement issued by the company, the offer was a premium of approximately 37% over the closing share price of Landry’s common stock on Nov. 2. The statement said that Fertitta currently owns approximately 55.1% of Landry’s outstanding common stock shares.
The statement goes on to say that, pending approval by Landry’s shareholders and other regulatory approval, the deal should be completed in the first half of 2010. The company will continue soliciting alternative acquisition proposals from other parties until Dec. 17 or until Landry’s debt refinancing is finished. However, Landry’s would be required to pay a $2.4 million break-up fee if it decided not to continue with the merger agreement. Calls to Landry’s were not returned by deadline.
Industry and local media have reported on Fertitta’s attempts to take Landry’s private since 2008. A deal struck in June 2008 between Fertitta and Landry’s collapsed in early 2009. In September, Fertitta tried again, making an offer that would involve a spinoff of Landry’s Saltgrass Inc. steakhouse subsidiary. The plan was rejected by Landry’s board.
Landry’s Restaurants Inc. is a national hospitality and restaurant company that owns and operates full-service casual dining restaurants operating under the names of Rainforest Café, Saltgrass Steak House, Landry’s Seafood House, Charley’s Crab, The Chart House and the Signature Group of Restaurants. Landry’s also owns and operates the Golden Nugget Hotel & Casino in Las Vegas and Laughlin, NV.
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