OWASSO, OKLA. — Greenheck Group, a provider of commercial air movement, control and conditioning equipment, will open a 1.3 million-square-foot manufacturing facility in Owasso, a northern suburb of Tulsa. Greenheck has acquired a 72-acre distribution campus that was formerly operated by Macy’s, and the new manufacturing plant is expected to generate about 700 new jobs within the local economy over the next five years. In addition, the project represents a total capital investment of about $300 million in the regional economy. Greenheck expects to finalize initial building upfit improvements by spring 2027, with production beginning shortly thereafter.
AUSTIN, TEXAS — Austin-based HPI Real Estate Services & Investments has broken ground on The Kent, a seven-story, 396-unit apartment project that will be located near The Domain on the state capital’s north side. Specific information on floor plans and amenities was not disclosed. HPI is developing The Kent in partnership with multiple private investors. Belshaw Mulholland Architects designed the project, and Austin-based OHT Partners is serving as the general contractor. Completion is slated for mid-2029.
SPRING, TEXAS — Stream Realty Partners is nearing completion of Summit Grove Business Park, a 215,891-square-foot industrial project in the northern Houston suburb of Spring. Building One is a 124,930-square-foot, rear-load structure that is currently available for lease. Building Two is a 90,961-square-foot facility that is fully preleased to an undisclosed, energy services company. Garrett Thomas and David Munson of Cushman & Wakefield represented the tenant in the lease negotiations for Building Two. Tyler Maner, Abe Richardson and Grant Wisenbaker represented ownership on an internal basis.
TEXARKANA, TEXAS — TexAmericas Center has signed a memorandum of understanding (MOU) with AIST Solutions, a Japanese industrial, research and engineering company, as well as AIST’s American subsidiary, to support manufacturing and business growth in Texarkana. The agreement establishes a formal working relationship that connects TexAmericas Center, which owns and operates a 12,000-acre mixed-use and industrial park of the same name near the Arkansas-Texas border, with Japanese companies exploring U.S. market entry and expansion.
By Taylor Williams Tax cuts for the rich. The K-shaped economy. The dawn of the second Gilded Age. Regardless of your preferred cliché, if you buy into one or more of those views on the current state of the U.S. economy, then you likely have broader concerns about the natural byproducts of unchecked capitalism. But no matter the degree of government oversight and regulation, capitalism at its core is driven by competition, and sometimes that competition can be taken too far. But those in the business of economic development in North Texas see no real need to take competitive capitalism to extremes, at least at this point in the cycle. The region’s natural magnetism for attracting new commerce, as well as its established patterns of job and population growth, are somewhat self-sustaining at this point, and there’s plenty of business to go around. “There’s always competition, but we also all talk to each other and share ideas about what’s working from a regional standpoint, and because of what we have in DFW in terms of sheer population and diversity of workforce, there are plenty of opportunities,” says Michael Talley, the City of Plano’s director of economic development. “Competition is …
STAFFORD, TEXAS — Walker & Dunlop has arranged a $110 million loan for the refinancing of 1879 at the Grid and Arc at the Grid, two apartment communities totaling 731 units in the southwestern Houston suburb of Stafford. Built in 2019 and 2020, respectively, within a 192-acre mixed-use development, 1879 at the Grid and Arc at the Grid both offer studio, one-, two- and three-bedroom units. Amenities include pools, fitness and wellness centers, resident lounges, coworking spaces, pet parks, courtyards, package lockers and outdoor grilling and dining stations. Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer of Walker & Dunlop arranged the floating-rate, interest-only loan through TPG Real Estate Credit. The borrower is Lone Star Funds.
DALLAS — High Street Residential (HSR) has broken ground on a 435-unit mixed-income multifamily project in North Dallas. The project will occupy 5.4 acres within the larger, 8.6-acre site at 5550 Lyndon B. Johnson Freeway, which formerly housed an office building. The new development will consist of two buildings that will rise five and seven stories and will house 217 market-rate units and 218 affordable housing units. Specifics on floor plans and income restrictions were not disclosed. Amenities will include a pool, clubroom, sports lounge, fitness center, grilling stations and a rooftop terrace. HSR is developing the project, which is expected to be complete in summer 2028, in partnership with Acram Group and Parse Capital. WDG Architecture is designing the project, and OHT Partners is the general contractor. Bank OZK is serving as senior lender.
MANSFIELD, TEXAS — A partnership between two developers, Texas-based Admiral Legacy Investments and Florida-based Foundry Commercial, is underway on construction of a 152,894-square-foot office project in Mansfield, a southern suburb of Fort Worth. Located within the Mansfield Innovation District, the project represents Phase IA of a larger, 18-acre mixed-use development. The building will rise five stories and will also be able to support healthcare and research-and-development uses. BOKA Powell is the project architect, and Moss is the general contractor. Wier & Associates is the civil engineer, and Stream Realty Partners is the leasing agent. A tentative completion date was not announced.
HOUSTON — Colliers has brokered the sale of Northwest Technical Center, an 80,392-square-foot industrial complex located at 5201–5291 Langfield Road in northwest Houston. Ben Condara and Jon Lindenberger of Colliers represented the undisclosed seller in the transaction. The buyer, local investment firm Pine Ridge Real Estate, plans to make both interior and exterior capital improvements to the property and has also retained Colliers as the leasing agent.
BRYAN, TEXAS — Austin-based developer Teeple Partners has broken ground onOaks Reserve Apartments, a 312-unit multifamily project that will be located in the Central Texas city of Bryan. Units will come in one-, two- and three-bedroom floor plans and will range in size from 668 to 1,520 square feet. Amenities will include a pool, fitness center, conference room, pickleball courts and multiple dog parks. Oaks Reserve, which represents the second of three phases of a larger development that will span more than 1,000 units across 53 acres, will feature multiple three- and four-story buildings. The first phase, the 315-unit Brazos Oaks, was completed this summer.
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