Texas

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EL PASO, TEXAS — Provident Industrial, a subsidiary of Dallas-based development and investment firm Provident, has completed a 497,280-square-foot industrial project in El Paso. The project represents the fourth and final phase of Gateway Logistics Park and consists of three rear-load buildings. Buildings 4 and 5 each span 147,420 square feet and have a shared 205-foot truck court. Building 6 totals 202,440 square feet and has a 130-foot truck court and 44 trailer parking stalls. Construction of Phase IV began in spring 2025. Now fully built out, Gateway Logistics Park comprises six buildings totaling roughly 1.4 million square feet.

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HOUSTON — LaSalle Investment Management has acquired an equity stake in CityWest, a four-building, 1.5 million-square-foot office campus in West Houston. The percentage was not disclosed. CityWest was purpose-built for BMC Software as a 39-acre corporate headquarters campus near the intersection of I-10 and Beltway 8 and was 98 percent leased at the time of the recapitalization. The property offers amenities such as a recently renovated fitness center, basketball court, multiple dining venues and outdoor gathering areas. LaSalle acquired the stake a joint venture with investment firm 3Edgewood.

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KELLER, TEXAS — Lee & Associates has brokered the sale of a 22,000-square-foot industrial building in Keller, a northern suburb of Fort Worth. The two-building complex is located at 5758-5750 Park Vista Circle and includes office space. Jeremy Mojica of Lee & Associates represented the undisclosed seller in the transaction. The buyer was Sail Holdings.

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PLANO, TEXAS — Local brokerage firm STRIVE has arranged the sale of a small-bay industrial property in Plano. According to LoopNet Inc., the building at 4400 Tradition Trail was completed in 2022 and features 24-foot clear heights. Bryan Meyer of STRIVE represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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DALLAS — With all due respect to junior anchors, small-shop merchandisers and other inline tenants, it’s the users with the single biggest and smallest physical footprints that are fueling much of the growth within Dallas-Fort Worth’s (DFW) retail development landscape. Anchors — specifically grocers — and pad users —particularly national companies — are the elements of new shopping center development that perhaps deserve outsized shares of credit in making new projects pencil. And at the annual InterFace DFW & North Texas Retail & Mixed-Use conference that took place on Sept. 15 at the Hilton Park Cities hotel, separate panels — one of actual owners and the other of brokers — spoke to this trend within the local development market. It’s a narrative that’s fairly easily understood. Grocers represent inelastic consumer demand; pad users represent credit tenancy. Developing new centers without both of those elements is risky. Retail investors have and always will love grocery-anchored retail deals, which are bolstered by the metroplex’s steady population growth. And in these times of high construction costs and rising interest rates, developers have gained extra appreciation for pad sites as pieces of lucrative projects that can be split off and sold or developed as …

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Justin Wheeler Berkadia quote

Berkadia recently partnered with the Chen Institute for Global Real Estate Finance at NYU Stern School of Business for the third annual Multifamily Investment Case Competition, held October 15–16. The competition brought together graduate student teams from leading business schools across the country to explore how technology can enhance investment returns in the multifamily sector. Participants were challenged to develop strategies at the intersection of apartment operations, technology and innovation financing — areas that do not often converge in traditional business school curricula. “Berkadia was honored to partner with NYU Stern for the third year in a row, highlighting our commitment to supporting young professionals and future leaders in real estate,” said Justin Wheeler, Berkadia’s CEO. “Engaging with eager, thoughtful participants and judges with deep expertise in the multifamily industry was both exciting and inspiring. This event was made possible by the dedication of university teams, fellow judges and NYU’s sustained support.” This year’s competition included teams from NYU Stern, Columbia Business School, UCLA Anderson, the University of Wisconsin–Madison’s School of Business, the University of Florida Warrington College of Business and the University of Texas at Austin McCombs School of Business. An accomplished group of industry leaders served as judges, …

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The-Colonnade-Addison-Texas

ADDISON, TEXAS— Newmark has brokered the sale of The Colonnade, an approximately 1 million-square-foot office campus located in the northern Dallas metro of Addison. The campus spans 12.4 acres and comprises three buildings that are connected by an enclosed, four-story atrium. The Colonnade was sold through the receivership process, with Stephen Schwalb, Chris Murphy, Robert Hill, Gary Carr and Austin Sheahan of Newmark representing the seller, a partnership between Trigild and CWCapital, in the transaction. The buyer, a partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co., has committed to investing approximately $100 million to reposition the campus. Initial property improvements are underway, with the first phase of upgrades expected to be completed throughout 2027.

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HOUSTON — A partnership between Connecticut-based Cross Ocean Partners and Houston-based Fuller Realty has acquired Eldridge Place, an 828,784-square-foot office campus in Houston’s Energy Corridor. Eldridge Place comprises three buildings that span 245,315, 275,283 and 308,186 square feet. Engineering and construction firm Fluor Corp. anchors the campus with a footprint of 413,000 square feet, including occupancy of the entire third building. Other tenants at Eldridge Place, which had a campus-wide occupancy rate of 94 percent at the time of sale, include SM Energy, Pemex Procurement International, BakerRisk, Certarus and Petrobras America. Amenities include a fitness center, pickleball courts, a deli and a conference facility. The seller and sales price were not disclosed.

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DALLAS — Harborcrest Industrial has signed a 74,421-square-foot lease in East Dallas. According to LoopNet Inc., the single-tenant building at 8721 Forney Road was constructed on 5.8 acres in 2001 and features 20-foot clear heights, 18 dock-high loading doors and two grade-level loading doors. Taylor Stell and Brett Lewis of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. Thomas Mercer of Mercer Co. represented the tenant.

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HELOTES, TEXAS — A limited partnership managed by Weitzman has purchased Helotes Plaza, a 51,933-square-foot shopping center located on the northwestern outskirts of San Antonio. The center was fully leased at the time of sale to tenants such as Dollar Tree, Advance Auto Parts, Dairy Queen, Harbor Health, Subway, Kumon and Momentum Physical Therapy. David Nicolson and Stephen Schmidt of Weitzman negotiated the sale on behalf of the partnership. SRS Real Estate Partners represented the undisclosed seller.

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