Third Coast Infrastructure, an energy infrastructure company with operations across the Gulf Coast, leased 21K SF for its headquarters at Norton Rose Fulbright Tower.
Courtesy of Skanska USA Commercial Development Inc.
Norton Rose Fulbright Tower
The company is slated for a 2026 move to the tower at 1550 Lamar St., which Skanska developed and delivered last year. It is now about 62% leased.
Third Coast joins anchor tenant Norton Rose Fulbright, law firm Hicks Johnson PLLC — which is in the midst of completing its move into the building — and global consultancy Boston Consulting Group, which is slated to move in later this year. The ground-floor retail includes Tenfold Coffee, which opened late last year, and Zaranda, a restaurant from chef Hugo Ortega.
Third Coast’s current headquarters is in Hess Tower at 1501 McKinney St., also in Downtown Houston.
PEOPLE
Stream Realty Partners promoted Jeremy Lumbreras to managing director of its Houston industrial division. He will co-lead the team alongside Tyler Maner while continuing to execute transactions.
Lumbreras has completed more than 1,000 industrial deals, including the sale of Fairbanks Logistics Park and a major lease for De Well Container Shipping this year.
SALES
Terrain Capital Partners of Austin bought an Humble multifamily property from an affiliate company of Equus Capital Partners. The sale was made on behalf of Equus Investment Partnership XI.
The Parkway on Westlake is a 320-unit garden-style apartment community developed in 2018. Jennifer Ray and Ryan Epstein of Walker & Dunlop represented the seller. Andrew Holloway, Michael Brower, Scott Miller and Anthony Gugluizza of Equus oversaw the transaction for the firm.
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Dhanani Private Equity Group bought Sugar Park Plaza, a 95K SF neighborhood retail center at 11824 to 11930 Wilcrest Drive. JLL Capital Markets represented the seller, procured the buyer and arranged five-year acquisition financing.
Renovated in 2016, Sugar Park Plaza features one in-line retail building and three pad sites. It is fully leased to 16 tenants with a weighted average tenure of 24 years, including Marshalls, Skechers and Chase Bank.
JLL Capital Markets’ investment sales and advisory team representing the seller was led by John Indelli and Ryan West. JLL’s debt advisory team representing the borrower was led by Michael King and Michael Johnson.
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KBC Advisors represented Innovex on the sale of a 16-building industrial campus. KBC Advisors will lead leasing efforts, with Welcome Group serving as a strategic partner.
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Texas Jewelry District LP bought Westheimer Central Plaza, a 183K SF office building at 11200 Westheimer Road in the Westchase District. James Kadlick, Chris Hutcheson and Harrison Kane of Colliers represented the buyer.
LEASES
Courtesy of Partners Real Estate
GrandPort 99
Architectural Surfaces Group leased 102K SF in Building 2 of the GrandPort 99 Business Park in Baytown. The company plans to add a crane at the building, which will be its Houston regional distribution center.
Partners Real Estate’s Travis Land represented the landlord, a partnership between Alto Real Estate Funds and IDV. Architectural Surfaces Group was represented by Colton Hector and Ed Frantz of CBRE.
THIS AND THAT
Plans to build a Sports Illustrated-branded resort in Texas City have been called off, the Houston Business Journal reported, citing an unnamed source.
Sports Hospitality Ventures LLC and Lagoon Development Co. announced a joint venture for the Sports Illustrated Resort at Lago Mar in January 2024. Plans had called for a nine-story building with 200 hotel rooms.