A partnership of Hicks Ventures and Taconic Capital Advisors has purchased 1177 West Loop South, an 18-story office building with views of Memorial Park, downtown and the Galleria, from Dallas-based Spire Realty Group. The 342,000-square-foot building is anchored by Cornerstone Mortgage, which occupies 65,000 square feet. The building, on 4.4 acres, underwent a series of upgrades during Spire’s ownership. Additional improvements are planned as part of an aggressive leasing strategy.
“We will undertake a comprehensive capital and amenity upgrade program that will take all of our common area elements, from the garage arrival into the lobby and up through the building to top of class,” Hicks Ventures Office Group Director Paul Frazier said in an announcement. “We will add a new fitness facility, conference center facility and a tenant lounge area, as well as taking our deli/café to the next level.”
H. Dan Miller, Martin Hogan and Johnny Kight of HFF represented the seller. Hicks Ventures, will handle leasing and property management for the building, which was built in 1979. Spire purchased the building from Houston-based Griffin Partners and Urdang, an arm of BNY Mellon, in 2012.
Houston real estate veteran Patrick Hicks founded Hicks Ventures in 2007. Taconic Capital Advisors is a global institutional investment firm with offices in New York, London and Hong Kong.
Spectre Innovations has purchased Preserve Plaza, a medical retail building at 25450 Kuykendahl in Tomball. Duke Iqbal with IQ Realty Group represented the buyer. Lisa Hughes of the J. Beard Real Estate Co. represented the seller, EPB Land Developments. Preserve Plaza is a one-story, 11,000-square-foot building built in 2013 on 1.1 acres near The Village of Creekside Park in The Woodlands. The building has a dental office tenant and a space that the new owner will occupy as a medical business.
Sens Road Industrial LLC has purchased 75.9 acres on Sens Road near Texas 225 and Texas 146 in LaPorte. Doyle Toups and Zack Taylor of Moody Rambin represented the buyer. Ed Frantz of CBRE represented the seller.
McGriff, Seibels & Williams, an insurance brokerage firm based in Birmingham, Ala., has leased 69,448 square feet on two floors at 10100 Katy Freeway in Memorial City. The company will relocate its Houston office from 818 Town & Country Blvd. this fall. Brad MacDougall of MetroNational represented the landlord in-house. Lucian Bukowski and William Padon of CBRE represented the tenant.
Tally Energy Services has leased a 60,000-square-foot drilling services facility at 5611 Baird Court. The building has been renovated to house a remote operations center for geosteering services, devices for motor development, a machine shop, a measurement-by-drilling lab and executive office space. Maury Bronstein and John S. Wall Jr. of 1912 Ventures represented the tenant. Copeland Rhea and Charlie Christ of Clay Development & Construction represented the landlord, Clay-CMBS #1 LP.
Robertson Wealth Management has leased a 3,715-square-foot office at 5120 Woodway. Drew Donohue of Lee & Associates represented the tenant. John Garvalia with Cohen Brothers Realty Corp. represented the landlord, Decorative Center of Houston.
MBCO Engineering has leased 6,244 square feet at 1505 Highway 6 South for relocation of its office. Ryan Hartsell of Oxford Partners represented the tenant. Blaine Sinclair of Madison Marquette represented the landlord, Mlcfc 2007-9 Bingle Road LLC.
Kiefaber & Oliva, an oil and gas law firm, has expanded and renewed into 4,942 square feet in downtown’s Esperson Building, at 808 Travis. Ryan Hartsell of Oxford Partners represented the tenant. Jano Nixon Kelley represented the landlord, Cameron Management, in-house.
Black Diamond Real Estate has leased a 13,280-square-foot industrial manufacturing building on Gant Road in northwest Houston. Mike Spears, Robert McGee and Mason Alsbrooks of Lee & Associates represented the landlord, 6811-6815 Gant Road LLC.
GCP Technologies has leased 5,770 square feet at 5300 Hollister Road. Terri Torregrossa of Moody Rambin represented the landlord, Genoso Holdings.
The Loev Law Firm and Timothy J. Henderson have signed a three-year lease extension for 2,639 square feet at 6300 West Loop South in Bellaire. David Loev of The Loev Law Firm represented the tenants. John Andell of Hansen Partners represented the landlord, 6300 WLS LLC.
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