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Katy-Prairie-Business-Park
AcquisitionsIndustrialTexas

National Property Holdings Unveils Plans for 1.1 MSF Industrial Park in Katy, Texas

by Taylor Williams

KATY, TEXAS — Regional developer National Property Holdings has unveiled plans for a roughly 1.1 million-square-foot industrial park in the western Houston suburb of Katy. Katy Prairie Business Park will be developed in two phases, each of which will comprise a single building that will be able to support manufacturing and logistics users. The Phase I building will total 402,480 square feet, and the Phase II building will total 680,940 square feet. Building features will include 36- and 40- foot clear heights, ESFR sprinkler systems, onsite trailer parking and “flexible” configurations. CBRE has been tapped as the leasing agent for Katy Prairie Business Park. A construction timeline was not announced.

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AcquisitionsRetailTexas

JLL Negotiates Sale of 441,620 SF Retail Power Center in Cedar Park, Texas

by Taylor Williams

CEDAR PARK, TEXAS — JLL has negotiated the sale of 1890 Ranch, a 441,620-square-foot retail power center in Cedar Park, a northern suburb of Austin. The center was 99 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree. Barry Brown, Chris Gerard and Shea Petrick of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Chris Drew, Michael DiCosimo and Aaliyah St. Louis, also with JLL, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, a joint venture between Sterling Organization and Cohen & Steers.

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DevelopmentOfficeTexas

Gillett Commercial to Develop Spec Office, Flex Building in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — Local developer Gillett Commercial will build a speculative office and flex building in Allen, a northeastern suburb of Dallas. Known as Allen Place, the building is initially planned to be 89,032 square feet, comprising a 71,032-square-foot footprint plus an 18,000-square-foot mezzanine level that can be expanded by 20,000 square feet, offering up to 109,032 total square feet. Meinhardt & Associates is the project architect, and Raymond Construction will be the general contractor. Citadel Partners will market the space for lease. Gillett is developing the project, construction of which is set to start later this year and last about year, in partnership with the Allen Economic Development Corp.

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IndustrialLoansTexas

IPA Arranges $15.4M in Financing for Dallas Industrial Property

by Taylor Williams

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $15.4 million in financing for a 60,159-square-foot industrial property in Dallas. The address was not disclosed, but the property is leased to PREP, an operator of shared commercial kitchen spaces. Frank Montalto and Ethan Splan of IPA arranged the five-year loan, which carried a 75 percent loan-to-value ratio, through an undisclosed local credit union. The borrower was also not disclosed.

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The-Lariat-at-Abilene
DevelopmentLoansMultifamilyTexas

Dwight Capital Provides $66M HUD-Insured Construction Loan for Abilene Multifamily Project

by Taylor Williams

ABILENE, TEXAS — New York City-based Dwight Capital has provided a $66 million HUD-insured construction loan for The Lariat at Abilene, a 312-unit multifamily project in West Texas. Situated on 13 acres, the garden-style property will comprise 13 three-story buildings that will house 186 one-bedroom units and 126 two-bedroom units, as well as a clubhouse building. Amenities will include a pool, fitness center, pickleball court and outdoor grilling and dining areas. Brandon Baksh and Tommy Ng of Dwight originated the financing through HUD’s 221 (d)(4) program on behalf of the borrower, Martin Inderman Development.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Negotiates Sale of 165-Unit Self-Storage Facility in Mansfield, Texas

by Taylor Williams

MANSFIELD, TEXAS — Marcus & Millichap has negotiated the sale of Premium Storage, a 165-unit self-storage facility in Mansfield, located southeast of Fort Worth. The facility offers 12 climate-controlled units, 107 covered parking spaces and 46 uncovered parking spaces for a total of 47,891 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local owner-operator, in the transaction, and procured the buyer, a Midwest-based investment group. Both parties requested anonymity.

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AcquisitionsIndustrialTexas

Partners Brokers Sale of 14,572 SF Industrial Building in Northwest Houston

by Taylor Williams

HOUSTON —Partners Real Estate has brokered the sale of a 14,572-square-foot industrial building in northwest Houston. According to LoopNet Inc., the building at 5414 Larkin St. was originally constructed in 1983. Wyatt Huff and Hunter Stockard of Partners represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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Leasing ActivityRestaurantRetailTexas

Island Grill to Open New Restaurant in Houston’s River Oaks Neighborhood

by Taylor Williams

HOUSTON — Island Grill American Mediterranean, a Houston-based, family-owned concept, will open a new restaurant at 2810 Westheimer Road in the city’s River Oaks neighborhood. Eric Lestin and Michael Burgower of Cushman & Wakefield represented Island Grill in the lease negotiations. The restaurant, which is set to open late next spring, will be the sixth for the company.

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8300-Douglas-Dallas
DevelopmentMixed-UseTexas

JLL Arranges Construction Debt, Joint Venture Equity for Dallas Mixed-Use Project

by Taylor Williams

DALLAS — JLL has arranged undisclosed amounts of construction debt and joint venture equity for 8300 Douglas, a mixed-use project that will be located in the Preston Center submarket of Dallas. Designed by HKS Architects, 8300 Douglas will consist of a 12-story, 300,000-square-foot office building that will be the future regional headquarters of Fifth Third Bank; a 17-story, 147-unit apartment building; 24,000 square feet of retail and restaurant space; and a 35,000-square-foot rooftop park. RAMROCK Real Estate is leading development of 8300 Douglas in partnership with Lincoln Property Co. and Willow Bridge Property Co. Mark Gibson, Jim Curtin, John Rose, Clint Coe, Ryan Pollack and Campbell Swango of JLL structured both components of the capitalization.

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DevelopmentIndustrialTexas

Urban Logistics Realty to Develop Two Industrial Projects Totaling 341,000 SF in North Houston

by Taylor Williams

HOUSTON — Urban Logistics Realty will develop two industrial projects totaling 341,000 square feet in North Houston. Urban NXS Fallbrook will be a 182,400-square-foot, cross-dock industrial building, and Urban NXS West will be a 158,600-square-foot, front-load building. Urban Logistics Realty is developing both projects in a joint venture with Principal Asset Management. First United Bank & Trust is financing construction, which is slated to begin before the end of the summer and to be complete in the second quarter of 2027.

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