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Constellation-Southbelt-Houston
DevelopmentIndustrialTexas

Constellation Breaks Ground on 375,602 SF Spec Industrial Project in South Houston

by Taylor Williams

HOUSTON — Constellation Real Estate Partners has broken ground on a 375,602-square-foot speculative industrial project in South Houston. Constellation Southbelt will be a three-building development that will feature 32-foot clear heights, 412 car parking spaces, 220-foot shared truck court depths and a 75-foot laydown yard for additional outdoor storage and trailer parking. Constellation is partnering with a fund advised by Crow Holdings Capital on the project, completion of which is slated for the fourth quarter. Colliers has been tapped as the leasing agent.

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Reatta-Ranch-Justin-Texas
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 300-Unit Apartment Community in Justin, Texas

by Taylor Williams

JUSTIN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Reatta Ranch, a 300-unit apartment community in Justin, located north of Fort Worth. Built on 17 acres in 2020, Reatta Ranch offers one-, two- and three-bedroom units with an average size of 1,025 square feet. Amenities include a pool, fitness facility, business center and a pet play area. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Shelby Vosburg of IPA represented the seller, Boulder Peak Capital, in the transaction and procured the undisclosed buyer.

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AcquisitionsMultifamilyTexas

Eastham Capital Sells 254-Unit Apartment Complex in Northwest Houston

by Taylor Williams

HOUSTON — Florida-based real estate private equity firm Eastham Capital has sold Kensington Crossings, a 254-unit apartment complex in northwest Houston. Kensington Crossings offers one-, two- and three-bedroom units that range in size from 759 to 1,317 square feet. Amenities include a pool, business center, pet park, game room and outdoor picnic areas. Eastham Capital acquired the property in 2018 via a joint venture with Mosaic Residential and implemented a value-add program. The buyer was not disclosed.

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AcquisitionsIndustrialTexas

Oxford Partners Arranges Sale of 17,150 SF Industrial Building in Northwest Houston

by Taylor Williams

HOUSTON — Local brokerage firm Oxford Partners has arranged the sale of a 17,150-square-foot industrial building in northwest Houston. The building at 5250 Brittmoore Road includes office space. Ryan Hartsell and D.J. Hale of Oxford Partners represented the buyer, GYC Uniforms, in the transaction. Nick Peterson and Jordan Fox of NAI Robert Lynn represented the undisclosed seller.

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DevelopmentIndustrialTexas

LITOS Completes 952,560 SF Spec Industrial Project in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — LITOS, an industrial developer based in Mexico City, has completed a 952,560-square-foot speculative project in the Rio Grande Valley city of Laredo. Known as LITOS Laredo, the facility consists of two cross-dock buildings totaling 476,280 square feet each. Building features include 40-foot clear heights, 70-foot speed bays and 3,000 square feet of office space. ARCO/Murray served as the design-build firm on the project, which is the first in the United States for LITOS.

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Core45-Building-1-Dallas-
AcquisitionsIndustrialTexas

JLL Brokers Sale of 616,068 SF Industrial Building in South Dallas

by Taylor Williams

DALLAS — JLL has brokered the sale of Core45 Building 1, a 616,068-square-foot industrial structure in South Dallas. Built on 33.8 acres in 2023, the building features 40-foot clear heights, 110 dock doors, four drive-in ramps, 188-foot truck court depths, 8,180 square feet of office space and parking for 306 cars and 151 trailers. Trent Agnew, Tom Weber, Pauli Kerr and Carson Stogner of JLL represented the seller, an affiliate of Grandview Partners, in the transaction. The buyer was LBA Logistics.

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Pearl-Lake-Pointe-Sugar-Land
DevelopmentMultifamilyTexas

Morgan Breaks Ground on 376-Unit Multifamily Project in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Morgan, a Philadelphia-based developer, has broken ground on Pearl Lake Pointe, a 376-unit multifamily project in Sugar Land, located southwest of Houston. The five-story building will feature 9,940 square feet of commercial space and a six-story parking garage. Amenities will include a pool, fitness center, golf simulator, sky lounge and a café. Texas Capital Bank is financing construction of the 6.5-acre project, the first units of which are expected to be available for occupancy in mid-2027.

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IndustrialLeasing ActivityLee & AssociatesTexas

Aircool AC Parts Supply Signs 17,213 SF Industrial Lease in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Aircool AC Parts Supply has signed a 17,213-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 1705 Wallace Drive was completed in 2001 and totals 138,600 square feet. Corbin Blount and Baron Johnson of Lee & Associates represented the tenant in the lease negotiations. Mac Hall and Sarah Ozanne of Stream Realty Partners represented the landlord.

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Perry-Row-Dallas
LoansMultifamilyTexas

Mesa West Capital Provides $42M Acquisition Loan for Northeast Dallas Multifamily Property

by Taylor Williams

DALLAS — Mesa West Capital has provided a $42 million acquisition loan for Perry Row, a 149-unit multifamily property in northeast Dallas. Built in 2009, Perry Row offers one-, two- and three-bedroom townhome-style units that are furnished with stainless steel appliances, granite countertops, individual washer and dryers, walk-in closets and balconies. Amenities include a pool, fitness center, outdoor kitchen and a business center. Mark Brandenburg of JLL arranged the loan on behalf of the borrower, a joint venture between Knightvest Capital and TPG Angelo Gordon, which will use a portion of the proceeds to fund capital improvements.

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LoansRetailTexas

Gantry Arranges $10M Loan for Refinancing of Irving Shopping Center

by Taylor Williams

IRVING, TEXAS — Gantry, a commercial mortgage banking firm based in San Francisco, has arranged a $10 million loan for the refinancing of Metroplex Plaza, a 105,000-square-foot shopping center in Irving. The center recently underwent a repositioning that introduced a new grocery anchor. Mark Ritchie and Austin Ridge of Gantry originated the 10-year, fixed-rate loan. The names of the direct lender and borrower were not disclosed.

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