Mainland Bank, the oldest financial institution in the city, has selected Texas City Professional Office Building as its new headquarters and banking hub, signing a long-term lease for a property now undergoing a major renovation.
The bank has leased 5,555 sf at 2501 Palmer Hwy., a two-story office building with three covered drive-through banking lanes. Mainland Bank's new space and the balance of the 33,486-sf structure will be renovated simultaneously throughout the summer.
"It is an honor to have a hometown bank entering into a long-term lease to put its headquarters into our building," says Ronnie Miranda, CCIM, SIOR and director of asset management for Houston-based NewQuest Properties. The headquarters office and branch space will be ready to occupy by fall.
In the past month, Miranda has secured five new leases, totaling 12,355 sf, for the office building, owned by A-K Texas Venture Capital. Occupancy is now 90%, with space only available on the second floor. Miranda's largest opening is 3,000 sf.
"Unlike the office market in other oil and gas cities, this little hamlet of Texas City is booming. And these new leases speak volumes for our building," Miranda says. "We are bringing this property up to the 21st century with this renovation."
Texas City Professional Office Building, featuring 111 parking spaces, boasts Wi-Fi throughout and a brand-new digital lobby directory. Still to come will be upgrades to all common areas, lobby and elevator cabs. New carpeting, lighting, accessibility improvements and signage are part of the plan. The property is centrally located along Palmer Highway, just off Emmett F. Lowry Expressway and less than five miles from Galveston Bay.
Mainland Bank, chartered in 1944 as First State Bank, has been a landmark tenant along Palmer Highway for decades. Richard Barbles of Stream Realty Partners represented the bank in lease negotiations.
Texas City Professional Office Building is positioned less than a half mile west of the bank's existing location at 2831 Palmer Highway, which recently has been sold to facilitate the relocation and consolidation. The financial institution also has branches at 24 E. Greenway Plaza in Houston and 400 FM 517 W in Dickinson.
HOUSTON SALE
Waffle House has acquired a 0.51-acre retail pad site in Antoine Town Center, located at Highway 249 and Antoine Drive, Houston, from Antoine/West/249-33 LP. John Nguyen and Brad Elmore of NewQuest Properties represented the seller in the direct deal.
NORTH TEXAS LEASES
Daiso Japan has leased 7,700 sf of retail space in Spring Creek Corners, 101 Spring Creek Pkwy., Plano, from 101 Spring Creek LP. Heather Nguyen and John Nugyen of NewQuest Properties represented the tenant. Alfred Goh of Pacific Century Realty represented the landlord.
Café MangoSix has leased 2,369 sf of retail space in Carrollton Town Center, 2540 Old Denton Rd. in Carrollton, from NewQuest Properties. Heather Nguyen and John Nguyen of NewQuest Properties represented the landlord in the direct deal.
Great Clips has leased 1,050 sf of retail space in Lantana Town Center, located at the intersection of FM 407 and Jeter Road in Bartonville, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Matt Squire of the Retail Connection represented the tenant.
CENTRAL TEXAS LEASES
Mattress One and Verizon Wireless have leased 2,800 sf and 1,400 sf, respectively, of retail space in Crystal Falls Town Centre, located at the intersection of Crystal Falls Parkway and Lakeline Boulevard in Leander, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Tara Hoisington of Southwest Realty Advisors represented Mattress One. John Heffington of CBRE represented Verizon.
SOUTH TEXAS LEASES
Pet Supermarket has leased 8,139 sf of retail space in Fairfield Marketplace, located at the intersection of Hwy. 290 and Mason Road in Cypress, from NewQuest Properties. Bob Conwell
SOUTH TEXAS LEASES cont.
and Rachael Keener of NewQuest Properties represented the landlord. Debbie Adams of Edge Realty represented the tenant.
Pet Supermarket has leased 8,000 sf of retail space in Shops at Katy Reserve, located at
The intersection of FM 1463 and Spring Green Boulevard in Katy, from NewQuest Properties. Bob Conwell and Rachael Keener of NewQuest Properties represented the landlord. Debbie Adams of Edge Realty represented the tenant.
Mainland Bank has leased 5,555 sf of office space in Texas City Professional Office Building, 2501 Palmer Hwy. in Texas City, from A-K Texas Venture Capital. Ronnie Miranda of NewQuest Properties represented the landlord. Richard Barbles of Stream Realty Partners represented the tenant.
Akashi Sushi Fusion Cuisine has leased 3,888 sf of retail space in Grand Parkway Town Center, located at the intersection of Hwy. 249 and Grand Parkway in Tomball, from NewQuest Properties. Brad Elmore and David Meyers of NewQuest Properties represented the landlord. Independent broker Gary Landson represented the tenant.
Steelmill Gym has leased 3,807 sf of retail space at 4721 N. Main St. in Houston, from Braun Enterprises. Josh Friedlander of NewQuest Properties represented the landlord in the direct deal.
Mattress One and Ideal Dental have leased 2,800 sf and 2,450 sf, respectively, of retail space in Grand Morton Town Center, located at the intersection of Grand Parkway and Morton Ranch Road in Katy, from NewQuest Properties. Josh Friedlander and Rebecca Le of NewQuest Properties represented the landlord. Clay Albers of Clay Albers Properties represented Mattress One. John Phelps and Alan Clark of Phelps Commercial Realty represented Ideal Dental.
True Touch Pedi-Spa & Nails has leased 2,702 sf of retail space in the Market at Cross Creek Ranch, located at the intersection of FM 1463 and Fulshear Bend Drive in Katy, from The Market at CCR Ltd. Heather Nguyen and John Nguyen represented the tenant. Will Bradley of Read KingCommercial Real Estaterepresented the landlord.
Urban Bricks Pizza Co. has leased 2,553 sf of retail space in Bella Terra, located at the corner of Grand Parkway and Bellaire Boulevard in Richmond, from MRPL Retail Partners Ltd. Ashley Williams and Rachael Keener of NewQuest Properties represented the tenant. Amanda Concha
of Core Commercial represented the landlord.
Moxie Apparel has leased 2,545 sf of retail space in Tomball Parkway Placa, located at the
SOUTH TEXAS LEASES cont.
intersection of Theis Road and TX 249 in Tomball, from Tomball Plaza LLC. Brad Elmore of NewQuest Properties represented the landlord in the direct deal.
Thrive Affordable Vet Care has leased 1,995 sf of retail space in Eldridge Parkway Village, located at the intersection of FM 1960 and Eldridge Parkway in Houston, from The Pantiles Ltd. Bob Conwell and Brad Elmore of NewQuest Properties represented the landlord. Jon Kantalis and J.J. McDermott of SDI Realty Advisors represented the tenant.
Frenchy's has leased 1,560 sf of retail space in Plaza on Galveston Island, located at the intersection of 61st Street and Stewart Road in Galveston, from Harold A. Clark & Co. Rachael Keener of NewQuest Properties represented the landlord. Phil Davis of Cache Properties represented the tenant.
LOUISIANA
Sport Clips has leased 1,400 sf of retail space in Camp Forbing Marketplace, located at the intersection of Flournoy Lucas and Ellerbe roads in Shreveport, from NewQuest Properties. Bob Conwell and David Meyers of NewQuest Properties represented the landlord. Richard Buxbaum of Radius Realty Advisors represented the tenant.
