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Resia-Rayzor-Ranch-Denton
LoansMultifamilyTexas

JLL Arranges Acquisition Financing for 322-Unit Apartment Community in Denton

by Taylor Williams

DENTON, TEXAS — JLL has arranged acquisition financing for Resia Rayzor Ranch, a 322-unit apartment community located in the North Texas city of Denton. Completed in 2024 and located within a master-planned community of the same name, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Jesse Wright, Philip Galligan and Lauren Dow of JLL arranged the loan through private equity firm ACRE on behalf of the borrower, Miami-based owner-operator Resia.

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Jefferson-Cove-Grand-Prairie
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 283-Unit Apartment Complex in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Newmark has brokered the sale of Jefferson Cove, a 283-unit apartment complex located midway between Dallas and Fort Worth in Grand Prairie. Completed in 2024, Jefferson Cove offers one-, two- and three-bedroom units. Amenities include a pool, fitness center with a yoga studio, clubhouse and resident lounge, outdoor grilling and dining stations, conference room and a dog park. Brian Murphy, Brian O’Boyle Jr. and Richard Furr of Newmark represented the seller, TDI, a multifamily investment company owned by former executives of JPI, in the transaction. Purvesh Gosalia, also with Newmark, arranged acquisition financing on behalf of the buyer, Madera Residential.

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AcquisitionsOfficeTexas

Marcus & Millichap Negotiates Sale of 44,104 SF Office Building in Irving

by Taylor Williams

IRVING, TEXAS — Marcus & Millichap has brokered the sale of a 44,104-square-foot office building in Irving’s Las Colinas district. Built on a 3.6-acre site at 8333 Royal Ridge Parkway in 2000, the building is leased to Berkshire Hathaway and American Airlines Federal Credit Union. Joseph Jaques and Ron Hebert of Marcus & Millichap represented the California-based seller in the transaction and procured the Texas-based buyer. Both parties requested anonymity. 

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Leasing ActivityOfficeTexas

Network Funding Signs 12,750 SF Office Lease in Houston’s Westchase District

by Taylor Williams

HOUSTON — Network Funding has signed a 12,750-square-foot office lease in Houston’s Westchase District. The lender is taking space within Building I at The Towers at Westchase. Matthew Seliger and Parker Noble of Stream Realty Partners represented the landlord, Franklin Street Properties, in the lease negotiations. Bryant Lach of JLL represented the tenant.

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DevelopmentMixed-UseRestaurantRetailTexasTop Stories

NewQuest Breaks Ground on Junior Retail Component at $400M Texas Heritage Marketplace in Metro Houston

by John Nelson

KATY, TEXAS — NewQuest, a local commercial real estate development and services firm, has broken ground on the multi-tenant retail component of Texas Heritage Marketplace, a $400 million mixed-use development in Katy, a western suburb of Houston. The project represents the largest cluster of retail space in the history of Waller County, according to NewQuest. “As it stands, Waller and surrounding rural counties have been unserved by major retailers,” says Austin Alvis, president and chief development officer for NewQuest. “Texas Heritage Marketplace will fill in that gap.” Situated in the center of Texas Heritage Marketplace, the retail space that is now under construction is leased to tenants including Academy Sports + Outdoors (51,068 square feet), Burlington (22,147 square feet), Spec’s Fine Wines & Spirits (16,806 square feet) and Ulta Beauty (10,000 square feet). NewQuest plans to deliver the junior retail anchors in first-quarter 2027. The groundbreaking also includes Heritage Grove, a green space component that will span five acres at the center of the development. The park-like common space will be surrounded by the junior retailers and an additional 35,000 square feet of retail space planned for restaurants and service retailers, as well as a 40,000-square-foot EoS Fitness location. NewQuest plans …

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AcquisitionsRetailTexas

CTO Realty Acquires 399,075 SF Retail Power Center in McAllen, Texas

by Taylor Williams

MCALLEN, TEXAS — CTO Realty Growth, a Florida-based REIT, has acquired Palms Crossing, a 399,075-square-foot retail power center in the Rio Grande Valley city of McAllen. Palms Crossing is an open-air center that was 98 percent leased at the time of sale to tenants such as Hobby Lobby, Restaurant Depot, Best Buy, Burlington, Barnes & Noble and Guitar Center. Barry Brown, Chris Gerard, Claudia Steeb and Erin Lazarus of JLL represented the seller, WPG (formerly known as Washington Prime Group), in the transaction.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 265-Unit Self-Storage Facility in Lancaster, Texas

by Taylor Williams

LANCASTER, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 265-unit facility in Lancaster, a southern suburb of Dallas. Lasoto Self Storage was built in the 1980s and spans 44,940 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller and procured the buyer in the transaction. Both parties were Texas-based entities that requested anonymity. The sales price was also not disclosed.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 64,406 SF Industrial Building in Flower Mound, Texas

by Taylor Williams

FLOWER MOUND, TEXAS — Lee & Associates has brokered the sale of a 64,406-square-foot industrial building in Flower Mound, located in the northern-central part of the metroplex. According to LoopNet Inc., the building at 500 Gerault Road was constructed in 2025 and features 32-foot clear heights. Adam Graham, Alex Wilson and Tomas Wilson of Lee & Associates represented the seller in the transaction. Bill de la Chapelle and Karla Orozco of eXp Commercial represented the buyer. Both parties requested anonymity.

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Leasing ActivityOfficeTexas

International Trip Planning Services Signs 16,900 SF Office Lease in Houston

by Taylor Williams

HOUSTON — International Trip Planning Services has signed a 16,900-square-foot office lease in Houston’s Westchase District. The space is located within Building II at The Towers at Westchase. Matthew Seliger and Parker Noble of Stream Realty Partners represented the landlord, Franklin Street Properties, in the lease negotiations. Travis Taylor of Lee & Associates represented the tenant.

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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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