May 27, 2024

Real estate transactions: West Loop office building gets new owner – Houston Chronicle

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Centric Infrastructure Group relocated its corporate headquarters to 9950 Woodloch Forest Tower in The Woodlands.
Level X Group has acquired  2100 West Loop South, a 16-story building in the Galleria area.
Law firm Bush Rudnicki Shelton will open its first Houston location this fall. The company was represented by Savills in its new lease at Two Post Oak Central.
Kelsey-Seybold is expanding its Summer Creek Clinic by 17,000 square feet. The clinick is at 8233 N. Sam Houston Parkway E. in Humble. 
Centric Infrastructure Group, one of the fastest-growing natural gas and fiber optic telecommunication companies in Texas, relocated its headquarters to 9950 Woodloch Forest Tower, part of The Woodlands Towers at The Waterway office campus owned by the Howard Hughes Corp. The company is expanding its headquarters to occupy multiple floors at the tower, bringing the campus to 82 percent leased, according to Hughes. Paul Penland and Jerrod McQuain of JLL represented the tenant. Robert S. Parsley, Norman V. Munoz, and Jillian Fredericks with Colliers represented the landlord. The towers are home to oil and gas, bitcoin management, commercial real estate brokerage, cyber intelligence, insurance, legal, real estate development, renewable energy, skincare, technology, utilities and wealth management companies.
Level X Group, a full-service private equity and real estate development firm, acquired the 16-story, 2100 West Loop South office building from Elite Street Capital. Jamail Virani, partner at Level X Group, spearheaded the purchase. Renovations will begin in 2023, including a fitness center, game room/tenant lounge area, a new conference room and cosmetic upgrades throughout the building. Lee & Associates – Houston is providing leasing and property management services. A total of 59,256 square feet of space is available, with leasing options ranging from 1,164 square feet to a full floor at 10,048 square feet. Robert LaCoure, principal, Lee & Associates, is the leasing agent for the 63-percent leased building with support from Chris Lewis, Jill Nesloney and Bryce Adams.
Axis, a network technology company offering solutions in video surveillance, access control, intercom and audio systems, opened a 4,800-square-foot Axis Experience Center at 750 Town and Country Blvd., Suite 950, its 13th innovation center in the Americas and second in Texas. Focused around a Space City theme, the Houston AEC is designed to provide customers, partners and business leaders with resources and hands-on opportunities to test cutting-edge security technologies in a simulated environment.
RELATED: More real estate transactions: Law firm signs big lease in Galleria area
Bush Rudnicki Shelton, a residential construction and real estate law firm with locations in the Dallas/Fort Worth and Austin areas, will open a 3,250-square-foot office in the Two Post Oak Central building at 1980 Post Oak Blvd. this fall. Lesa Nickelson French, corporate managing director, Houston at Savills represented the tenant. Amanda Nebel of Parkway represented the landlord.
Thompson Engineering leased 5,750 square feet at the 10665 Richmond building. Al Gabosch with Moody Rambin represented the tenant.
JLL Capital Markets arranged financing on behalf of Fort Capital, a Fort Worth-based real estate investment company, for the acquisition of the Houston Prime Industrial Portfolio. The seven-property portfolio totals 711,399 square feet across 23 buildings in Houston. The portfolio is leased to 126 tenants across a variety of industries. Cullen Aderhold of JLL lined up the $72 million loan from PCCP. 
SAI SKC LLC purchased a 15.2-acre tract of land at 14180 Horseshoe Bend in Conroe. The site is near the intersection of FM 1488 and Kuykendahl Road. Diana Gaines of SVN | J. Beard Real Estate – Greater Houston represented the seller, Amelia Pharr. Jeff Kastendieck of Re/Max Universal represented the buyer.
Kelsey-Seybold Clinic announced a 17,000-square-foot expansion of Summer Creek Clinic at 8233 N. Sam Houston Parkway E. in Humble. Completion is expected in spring 2023. The clinic, totaling 50,000 square feet after the expansion, will have capacity for an additional 12 providers, bringing the total provider count to 27. Kirksey Architecture designed the expansion, which is being built by Gamma Construction.
Transwestern Ventures, the investment arm of the Transwestern family of companies, has secured $122 million of equity for its inaugural Transwestern Ventures Partners I investment vehicle, exceeding its initial target of $100 million. Ten entities, made up primarily of families and high-net-worth investors, committed between $5 million and $20 million each to TVP I. The investment partners will leverage Transwestern’s nearly 2,100 leasing, development, operations and investment professionals across 33 markets to invest in commercial real estate opportunities throughout the U.S. TVP I will partner with Transwestern companies and other real estate developers and operators on projects such as industrial, multifamily, health care, life sciences, office, hotels and land development.
Katherine Feser covers a variety of subjects for the Houston Chronicle Business section. She coordinates some of the paper’s most popular special sections, including the Chronicle 100, Home Price Survey, and Top Workplaces. She compiles many of the staples of the section, including the daily markets page, People in Business, event listings and real estate transactions.
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