Texas

Innerbelt-Northwest-Logistics-Park-Houston

HOUSTON — Transwestern has broken ground on an approximately 1.4 million-square-foot industrial project in northwest Houston. The project represents Phase II of a larger development known as Innerbelt Northwest Logistics Park and will consist of four buildings, two of which are fully preleased. The two other buildings will range in size from 183,080 to 428,800 square feet and will feature 32- and 36-foot clear heights, respectively, as well as a combined 168 dock-high doors and eight drive-in doors. Completion is slated for the third quarter. Phase I of Innerbelt Northwest Logistics Park was completed last year and is fully leased.

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HOUSTON — Marcus & Millichap has brokered the sale of a 120-room hotel in West Houston. The hotel was built in 1995 and is operated under the Red Roof Plus+ brand. Amenities include a breakfast area, fitness center and onsite laundry facilities. Skyler Cooper of Marcus & Millichap represented the seller in the transaction and procured the buyer. Both parties were limited liability companies. Chris Gomes, Allan Miller and Rajan Patel of Marcus & Millichap provided support for the deal.

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EL PASO, TEXAS — Stage Equity Partners, an investment firm based in the Chicago area, has purchased a portfolio of two medical office buildings totaling 40,075 square feet in El Paso. The buildings were fully leased at the time of sale to practices in fields such as neurology, gastroenterology, general surgery, pediatrics, behavioral health, laboratory testing and oral surgery. Jay Miele of Newmark represented the undisclosed seller in the transaction. Wintrust Bank provided acquisition financing for the deal.

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GRAND PRAIRIE, TEXAS — Topgolf has opened a new venue in Grand Prairie, roughly midway between Dallas and Fort Worth. The square footage was not disclosed, but the two-level venue features 80 climate-controlled hitting bays in addition to a bar and restaurant. Topgolf expects to employ about 300 people at the facility, which is the Dallas-based operator’s 15th in Texas and fifth in the Dallas-Fort Worth metroplex.

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Flatz-512-San-Marcos

SAN MARCOS, TEXAS — Z Modular has received a $62.3 million bridge loan for the refinancing of Flatz 512, a 384-unit multifamily property located roughly midway between Austin and San Antonio in San Marcos. A partnership between New York-based Castle Lanterra and global investment management firm InterVest Capital Partners provided the loan. The newly constructed property offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations.

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HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has acquired a 198,290-square-foot, 13-acre industrial park in East Houston. Fidelity Road Industrial Park consists of three buildings that were originally constructed in 1980 and were leased to two tenants at the time of sale. Travis Land negotiated the deal for Partners on an internal basis. The seller was not disclosed. SouthState Bank provided acquisition financing for the deal.

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FORT WORTH, TEXAS — Local brokerage firm LanCarte Commercial has arranged the sale of M&W Business Park, a 64,600-square-foot, small-bay industrial property in Fort Worth. Built in 2018 on the city’s northeast side, M&W Business Park comprises six buildings that were fully leased at the time of sale. Finn Wilson led the LanCarte team that represented the buyer, Transtar, in the transaction. The seller and sales price were not disclosed.

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DALLAS — Leap Applied Behavioral Services has signed an 11,196-square-foot lease in southwest Dallas. According to LoopNet Inc., the building at 5510–5520 S. Westmoreland Road was constructed in 1985 and totals 20,357 square feet. Jason Gibbons of Finial Group represented the landlord in the lease negotiations on an internal basis. George Ndegwa of AARE Real Estate represented the tenant.

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These tables highlight major office market indicators across North America for Q42025, including vacancy rates, rents, prices per square foot, construction activity, inventory sizes and capitalization rates. Source: Lee & Associates’ 2025 Q4 North America Market Report.

Lee & Associates’ 2025 Q4 North America Market Report looks at diverging market demand across industrial, office, retail and multifamily spaces nationwide in the last quarter. Demand continued to soften for industrial spaces, while multifamily saw a reversal: decreased demand after seven consecutive quarters of strengthening. Office saw a slow increase in net absorption, but only after six years of negative absorption; retail demand was mixed. Industrial and retail spaces contended with tariff concerns, while all four types of commercial real estate saw either decreased or slowed rent growth in the final quarter of 2025. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below illustrate the market landscape through data on net absorption, leasing and development activity, sales transactions and rent growth, in addition to demand. Industrial Overview: Demand Falls Under Tariff Pressure Falling demand for industrial space continued in 2025 under the added strain of the United States’ aggressive trade and tariff policies affecting commercial property markets across North America. In the United States net absorption declined again in 2025 as tenant and rent growth fell to their lowest levels since the aftermath of the financial crisis. Meanwhile, inventory growth has been scaled back …

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SouthPort-45-Houston

HOUSTON — A partnership between local developer Lovett Industrial and Los Angeles-based PCCP LCC has broken ground on Southport 45, a 668,077-square-foot project in southeast Houston. Southport 45 will consist of three buildings: a 395,657-square-foot cross-dock facility, a 176,452 square foot front-load structure and a 95,968-square-foot front-load building. Each building will feature 32- to 36-foot clear heights, 2,500 square feet of office space, dock levelers and warehouse lights. Southside Bank and American National Bank of Texas are financing construction of Southport 45, which is expected to be complete in the third quarter. Other project partners include Powers Brown Architecture, general contractor Harvey Cleary, civil engineer ALJ-Lindsey and leasing agent JLL.

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