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Montgomery-Plaza-Conroe
AcquisitionsRetailTexas

JLL Negotiates Sale of 315,708 SF Retail Power Center in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — JLL has negotiated the sale of Montgomery Plaza, a 315,708-square-foot retail power center located in the northern Houston suburb of Conroe. Anchored by Academy Sports + Outdoors, the center is also home to tenants such as O’Reilly Auto Parts, Crunch Fitness, Spec’s Liquor, Petco and Dollar Tree. Ryan West and John Indelli of JLL represented the undisclosed seller in the transaction. The buyer was Florida-based investment firm JBL Asset Management. The center was approximately 94 percent leased at the time of sale.

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DevelopmentIndustrialTexas

Prologis Breaks Ground on 229,227 SF Industrial Project in La Porte, Texas

by Taylor Williams

LA PORTE, TEXAS — Prologis has broken ground on a 229,227-square-foot industrial project in La Porte, an eastern suburb of Houston. The project will add two buildings totaling 120,013 and 109,214 square feet to Port Crossing Commerce Center, bringing the development’s total footprint to approximately 2.7 million square feet across 11 buildings. The buildings will be situated on a combined 17 acres with frontage along State Highway 146. Construction is expected to be complete before the end of the year.  

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Leasing ActivityRetailTexas

IKEA Opens 63,000 SF Store at Shops at Park Lane in North Dallas

by Taylor Williams

DALLAS — IKEA has opened a 63,000-square-foot store at The Shops at Park Lane, a 33-acre mixed-use development in North Dallas. The small-format store is located on the second level of the center, across from Old Navy and next to American Girl, Champs and Nordstrom Rack. Other retailers that have recently opened stores at The Shops at Park Lane include Connect Studio DFW, Intuit Turbo Tax and Crème + Crepes. Northwood Retail owns the property.

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AcquisitionsLoansRetailTexas

Matthews Arranges Sale of 12,000 SF Academic Building in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 12,000-square-foot academic building in Leander, a northern suburb of Austin. The building at 441 W Broade St. is leased to Kindercare Learning. Bryce Wong and Patrick Graham of Matthews brokered the deal. The buyer and seller were not disclosed. Matthews also arranged a $5.2 million acquisition loan for the transaction through an undisclosed regional bank.

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AcquisitionsIndustrialTexas

Dalfen Industrial Acquires 1.4 MSF Portfolio in Dallas, Midwest for $207.5M

by Taylor Williams

DALLAS — Locally based investment firm Dalfen Industrial has acquired a portfolio of 19 industrial properties totaling approximately 1.4 million square feet, the majority of which (13) are located in the Dallas area. The sales price was $207.5 million. The other six properties are scattered across Midwestern markets, including Chicago, Cincinnati and Indianapolis. The Dallas properties are located in submarkets such as Plano, Valwood and the Great Southwest. The portfolio was 93 percent leased to 48 tenants at the time of sale. Jack Fraker, Dom Espinosa and Travis McEldowney of Newmark represented the seller, Mapletree, a development and investment firm based in Singapore, in the transaction.

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DevelopmentMixed-UseTexas

Rosewood Receives Zoning Approval for 156-Acre Mixed-Use Development in Plano

by Taylor Williams

PLANO, TEXAS — Rosewood Property Co. has received zoning approval from the Plano City Council for Heritage Creekside, a 156-acre mixed-use development that will be located near the intersection of U.S. Highway 75 and President George Bush Turnpike. According to the site plan, Rosewood intends to develop about 340 single-family homes, 2,000 apartments, 292,000 square feet of office space and 109,000 square feet of retail, restaurant and entertainment space on the site. According to Rosewood, these elements constitute a shift from previous plans that featured heavier office and hospitality components. A tentative construction timeline was not announced, but “further development of the master-planned community is expected by the end of the year,” Rosewood said in a statement.

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Baybrook-Village-Webster
AcquisitionsRetailTexas

CBRE Brokers Sale of 278,842 SF Baybrook Village Shopping Center in Metro Houston

by Taylor Williams

WEBSTER, TEXAS — CBRE has brokered the sale of Baybrook Village, a 278,842-square-foot shopping center located in the southeastern Houston suburb of Webster. Built in 1978 and renovated in 2020, Baybrook Village is home to tenants such as Burlington, Ross Dress for Less, PetSmart, PGA Superstore, Chuck E. Cheese, Haverty’s and pOpshelf. Mark Witcher, Jolie Duhon, Jim Batjer, Chris Cozby and Harrison Tye of CBRE’s National Retail Partners team represented the seller, a partnership between O’Connor Capital Partners and Wafra, in the transaction. Brent Crawford and John Fenoglio, also with CBRE, arranged acquisition financing on behalf of the buyer, Fidelis Realty Parters.

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Green-Tree-Place-Houston
AcquisitionsMultifamilyTexas

Berkadia Arranges Sale of 200-Unit Apartment Complex in West Houston

by Taylor Williams

HOUSTON — Berkadia has arranged the sale of Green Tree Place, a 200-unit apartment complex in West Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground, outdoor kitchen and a cyber café. Chris Young, Chris Curry, Jeffrey Skipworth, Joey Rippel, Kyle Whitney and Jed Dalton of Berkadia represented the seller, Kairos Investment Management, in the transaction. The buyer was Texas-based investment firm Aligned Ventures.

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Forty649-North-Hills-El-Paso
AcquisitionsMultifamilyTexas

JLL Negotiates Sale of 342-Unit Apartment Community in El Paso

by Taylor Williams

EL PASO, TEXAS — JLL has negotiated the sale of Forty649 North Hills, a 342-unit apartment community in El Paso. Built on 17.7 acres in 2009 on the city’s northeast side, the property comprises 42 two-story buildings that house one-, two- and three-bedroom units with an average unit size of 897 square feet. Amenities include a pool, fitness center, clubhouse and a dog park. Steven Hahn Jr., Art Barnes and William Jennings of JLL represented the seller, Hamilton Point Investments, in the transaction. The buyer and sales price were not disclosed.

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DevelopmentIndustrialTexas

SLDM Commercial Completes Phase II of 137,550 SF Industrial Project in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — SLDM Commercial Properties has completed construction of Phase II of Dacy Business Park, a 137,550-square-foot industrial project in the southern Austin suburb of Kyle. Phase II of Dacy Business Park featured three buildings totaling 31,500 square feet, and the entire development will eventually consist of 13 buildings that will be delivered across four phases. Units at Dacy Business Park will range in size from 1,200 to 12,000 square feet, and buildings will feature clear heights of 22 to 24 feet. LT Commercial Group is the leasing agent. Units are also offered for sale, with prices starting in the mid-$300,000s.

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