CBRE Adds First Tenants to Houston Mixed-Use Development
- Aug 21, 2019
MARCEL has inked the first four leases at Marcel District, a 68,785-square-foot mixed-use project in Sugar Land, Texas. Sammy’s Sports Grill will occupy 5,050 square feet, while Experience Infusion Center will take up 24,335 square feet and Renzo Gracie Jiu-Jitsu signed on for 2,050 square feet.
Apex Executive Suites—MARCEL’s own coworking space concept— will occupy the asset’s 14,515 square feet of Class A office space. CBRE’s Senior Associate Lacee Jacobs and Associate Laura Harness are spearheading leasing efforts and represented MARCEL in the negotiations.
Located at 18702 University Blvd. on a 7.3-acre site, the development broke ground in May and is scheduled to come online at the end of the year. The tenants are expected to open their locations in early 2020. The new deals bring the property to 67 percent occupancy. Marcel District is taking shape adjacent to Johnson Development’s 1,300-acre Riverstone master-planned community. The location is roughly 6 miles from Interstate 69 and 27 miles southwest from downtown Houston.
Recently, CBRE represented the seller in the disposition of a 240,000-square-foot office campus in Richardson, Texas. The debt team also secured acquisition financing for the transaction.
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