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Azalea-District-Valley-Ranch-New-Caney
DevelopmentMixed-UseTexas

Signorelli Breaks Ground on 328-Acre Mixed-Use Expansion Project in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — Signorelli Co. has broken ground on a 328-acre mixed-use expansion project at Valley Ranch,, the developer’s master-planned community in the northeastern Houston suburb of New Caney. Known as the Azalea District, the project will consist of a residential component of 359 single-family homes across 203 acres and a commercial component that will primarily feature healthcare uses across 125 acres. Additional uses within the commercial component could include retail, restaurant and hospitality in addition to other wellness-themed amenities. The first phase of development will include 156 single-family homes by First America Homes that are scheduled to be delivered this summer.   

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Domain-Memorial-Houston
LoansMultifamilyTexas

Mesa West Capital Provides $81M Loan for Refinancing of Houston Multifamily Property

by Taylor Williams

HOUSTON — Mesa West Capital has provided an $81 million loan for the refinancing of Domain Memorial, a 313-unit multifamily property in Houston. Built on a 12.7-acre site in 2016 in the Briar Forest/West Memorial submarket, Domain Memorial offers one-, two- and three-bedroom townhome-style units with an average size of 1,300 square feet that are housed across 29 buildings. Amenities include a pool, fitness center and a clubhouse. The borrower, Dallas-based Knightvest Capital, will use a portion of the proceeds of the five-year, floating-rate loan to complete interior renovations. Domain Memorial is currently 95 percent occupied.

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DevelopmentIndustrialOfficeTexas

Foundry Commercial Underway on Office-to-Industrial Conversion Project in Irving

by Taylor Williams

IRVING, TEXAS — Foundry Commercial, an Orlando-based development and brokerage firm, is underway on construction of an office-to-industrial conversion project in Irving. The address of the office building was not announced, but the new industrial facility will total approximately 110,000 square feet and will be known as Ridgepoint. Demolitions began in March. An expected completion date was not announced. Ridgepoint will be Foundry’s 10th office-to-industrial conversion overall and its sixth in the Dallas area.

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IndustrialLeasing ActivityTexas

AllTerra Central Signs 22,413 SF Industrial Lease Expansion, Renewal in Southlake, Texas

by Taylor Williams

SOUTHLAKE, TEXAS — AllTerra Central has signed a 22,413-square-foot industrial lease expansion and renewal in Southlake, located north of Fort Worth. The provider of surveying and mapping services now occupies the entire building at 545 Commerce St., which according to LoopNet Inc. was completed in 1996. Travis Smith of JLL represented the tenant in the lease negotiations. Jon Skidmore, Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord, Philadelphia-based Arden Group.

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DevelopmentOfficeTexas

Midway Completes 320,000 SF CITYCENTRE Six Office Building in West Houston

by Taylor Williams

HOUSTON — Locally based developer Midway has completed CITYCENTRE Six, a 320,000-square-foot office building in West Houston. The 19-story building was developed adjacent to a new half-acre urban plaza, which was designed by OJB Landscape Architecture, within the 47-acre mixed-use development of the same name. Building materials supplier Dow is the anchor tenant at CITYCENTRE Six, and the building was delivered 90 percent preleased. Other tenants include VoltaGrid, Octave and Enverus. Construction began in early 2024 and topped out last summer.

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AcquisitionsOfficeTexas

Woodside Buys 200,155 SF Office Campus in Northwest Houston, Plans Renovations

by Taylor Williams

HOUSTON — Woodside, a Texas-based real estate private equity firm, has purchased Saddlebrook Place, a four-building, 200,155-square-foot office campus in northwest Houston. Woodside plans to renovate the campus, which was previously known as Heron Lakes, by refreshing common areas and introducing move-in-ready spec suites. Woodside has also tapped Stream Realty Partners to lease Saddlebrook Place. The seller and sales price were not disclosed.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 47,988 SF Retail Building in Northwest Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of a 47,988-square-foot retail building in northwest Houston. The freestanding building, which was constructed on a 5.5-acre site at 7300 W. Greens Road in 1994 and renovated in 2018, was fully leased at the time of sale to 24 Hour Fitness. Scott Jones, Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller, a California-based investor, in the transaction and procured the buyer, a local investor that acquired the asset via a 1031 exchange.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 13,294 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 13,294-square-foot industrial lease in Fort Worth. The tenant is Crawford Electric Supply Co., and the space is located within Everman Trade Center, a four-building, 457,745-square-foot development. Matt Carthey and Trey Goodspeed of Holt Lunsford represented the landlord, Boston-based Cabot Properties, in the lease negotiations. Michael Paine and Elizabeth Metz of Cushman & Wakefield represented the tenant.

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Constellation-Mills-Road-Houston
DevelopmentIndustrialTexas

Constellation Real Estate to Develop 422,452 SF Industrial Project in Northwest Houston

by Taylor Williams

HOUSTON — Constellation Real Estate Partners will develop a 422,452-square-foot industrial project in northwest Houston. Constellation Mills Road will be situated on a 37-acre site at 8175–8225 Mills Road and will consist of one cross-dock building totaling 334,447 square feet and one front-loading building totaling 88,005 square feet. The buildings will feature 32- and 36-foot clear heights and combined parking for 268 cars and 91 trailers. Construction is scheduled to begin in July and to be complete in the second quarter of 2027. Constellation has tapped KBC Advisors as the leasing agent.

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DevelopmentHospitalityTexas

Extended Stay America Opens 146-Room Hotel in Houston’s Galleria District

by Taylor Williams

HOUSTON — Extended Stay America has opened a 146-room hotel in Houston’s Galleria district. Extended Stay America Suites – Houston – Galleria is a pet-friendly hotel that features suites with fully equipped kitchens, including full-size refrigerators, stovetop microwaves and cookware, as well as dedicated work and dining areas. Communal amenities include a fitness center, grab-and-go market and onsite laundry facilities. An entity doing business as SAI RAM Galleria LLC owns the hotel.

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