Private equity firm chooses new office near Galleria

First Reserve Corp., a private equity firm focused on investing in companies in the industrial and energy sectors, will relocate from downtown to San Felipe Plaza, a 46-story office tower located at 5847 San Felipe, near the neighborhoods of Tanglewood and Briargrove in the Galleria area. Construction of the space, totaling approximately 15,000 square feet, is expected to be completed this summer. Philip Price of Newmark and Trey Strake of Cushman & Wakefield represented the tenant in the lease with Parkway Property Investments. Rima Soroka, leasing manager for Parkway, represented the landlord. With offices in Houston and Stamford, Conn., First Reserve has raised more than $32 billion in capital since its inception in 1983. San Felipe Plaza features a full-service cafe, coffee shop, a private fitness center and over 6,500 square feet of meeting rooms. in its conference and collaborative center.

Based in Miami Pacific Atlantic Cos.

Duke Realty Corp., an Indianapolis-based company with a 25 million square foot industrial portfolio in Texas, announced leases and renewals totaling more than 1.3 million square feet in the fourth quarter in the Houston and Texas markets. Dallas. Houston offers consist of renewal with Valassis For 135,231 square feet at 801 Court Court Court, Deer Park; Geodis for 158,940 square feet at 8210 Humble Westfield; a renewal with a global e-commerce retailer for 240,000 square feet at 8120 Humble Westfield; and a renewal and expansion with Berlin packaging For 219,200 square feet on 13788 West Road.

PPCG Bellefontaine Realty LLC purchased an 11,363 square foot apartment complex at 2232 Bellefontaine near the Texas Medical Center. Douglas Moore of Nai Partners represented the seller. Real estate professionals Purva Shah of RealM represented the buyer.

LandPark Commercial, a subsidiary of LandPark Advisors, has been awarded the management and leasing mission for the Clear Lake Business Center located at 15502 Highway 3 in Webster. The center includes a 129,185 square foot multi-tenant industrial park and a 24,120 square foot self-storage facility. Bridgewell Clear Lake, a subsidiary of Houston-based Bridgewell Property Management, acquired the property in January.

City Electric Supply, a Dallas-based family-owned wholesale distributor, opened a branch at 5031 Gulf Freeway to support residential and commercial growth in the area. Led by downtown branch manager Michael Martini, it is the company’s 17th store in the Houston area and among 500 in the United States.

Baytown Women’s Care Centera department of HCA Houston Healthcare Southeast providing community access to women’s health services, opened at 4611 Garth Road, Suite 100. This is the fourth new women’s care center operated by HCA Houston Healthcare Southeast.

Action Behavior Center signed a 9,000 square foot lease at Greenwood Place, a new office/sale building at 2174 N FM 3083 off Hwy 105 in Conroe. Jason Gaines of NAI Partners represented the owner, Greenwood Place LLC. Elena Bakina of Colliers International represented the tenant.

Arthur J. Gallagher Risk Management renewed 7,159 square feet at 14550 Torrey Chase. Trevor Jeske with CBRE represented the tenant. Bryan Collins represented the owner, Hartman Income REIT.

acquired 3.26 acres at FM 529 and Hillsdale Creek Drive from HSC FM 529 LP. Brad LyBrand and Glenn Dickerson of NewQuest Properties represented the seller.

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