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Boardwalk-Square-Katy
DevelopmentMultifamilyTexas

Sueba USA Completes 353-Unit Apartment Community in Katy, Texas

by Taylor Williams

KATY, TEXAS — Local developer Sueba USA has completed Boardwalk Square, a 353-unit apartment community located west of Houston in Katy. The midrise building features 20 open-concept floor plans including studio, one-, two- and three-bedroom layouts. Units range in size from 496 to 2,088 square feet and feature quartz countertops, stainless steel appliances, full-size washers and dryers and walk-in closets. Amenities include a CrossFit-inspired athletic club, recovery room with dry sauna and cold plunge, pool with tanning ledges and poolside cabanas, pet spa, catering kitchen and a coffee bar. Rents start at $1,265 per month for a studio apartment. Construction began in spring 2024.

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AcquisitionsRetailTexas

NewQuest Breaks Ground on 163,456 SF Retail Project in Northwest Houston

by Taylor Williams

HOUSTON — NewQuest has broken ground on a 163,456-square-foot retail project in northwest Houston. The project will feature two junior anchor spaces within The Grand at 249, the local developer’s $90 million project located at the interchange of the Grand Parkway and the Tomball Tollway. The spaces, which are expected to be available for occupancy by mid-2027, are preleased to Dick’s Sporting Goods, Ross Dress for Less, Burlington, Dollar Tree, Cavender’s, Petco, Sephora, Bath & Body Works and Milano’s Nails.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 78,272 SF Industrial Lease in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lee & Associates has negotiated a 78,272-square-foot industrial lease in North Fort Worth. The tenant is Wistron Corp., a provider of high-tech communications products and services, and the space is located within Building H at 35 Eagle Center. Trey Fricke and Reid Bassinger of Lee & Associates represented the tenant in the lease negotiations. Bob Scully and Steve Trese of CBRE represented the landlord, an entity doing business as Alpha Industrial Properties.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 49-Room Hotel in Clarendon, Texas

by Taylor Williams

CLARENDON, TEXAS — Marcus & Millichap has brokered the sale of a 49-room hotel in the West Texas city of Clarendon. Built on 2.4 acres in 2004, the hotel is operated under the Best Western Plus brand and offers amenities such as an indoor pool, business center, fitness center and meeting space. Gordon Allred and Chris Gomes of Marcus & Millichap represented the seller in the transaction and procured the buyer.

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Lakeview-at-Westpark-Richmond
LoansMultifamilyTexas

MMCC Arranges $54M HUD-Insured Loan for Refinancing of Metro Houston Apartment Community

by Taylor Williams

RICHMOND, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $54 million HUD-insured loan for the refinancing of Lakeview at Westpark, a 298-unit apartment community in Richmond, located southwest of Houston in Fort Bend County. Built in 2021, Lakeview at Westpark offers one-, two- and three-bedroom units and amenities such as a pool with a tanning deck, fitness center with yoga and spin studios, outdoor kitchen and lounge, resident game room and a dog park. Brandon Brown of MMCC arranged the loan, which carried a fixed interest rate of 5.3 percent and a 35-year amortization schedule, through KeyBank on behalf of the borrower, Texas-based Rockstar Capital.

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AcquisitionsIndustrialSelf-StorageTexas

JLL Negotiates Sale of 669-Unit Self-Storage Portfolio in Arlington

by Taylor Williams

ARLINGTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 669 units in Arlington. The facilities at 3016 S. Cooper St., 2331 S. Collins St. and 2306 N. Collins St. were all built in the 1970s and collectively span 80,216 net rentable square feet. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, an undisclosed, publicly traded storage REIT, in the transaction. BreakChain Capital Investments purchased the portfolio for an undisclosed price.

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DevelopmentIndustrialSelf-StorageTexas

Newcor Completes 617-Unit Self-Storage Facility in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Locally based firm Newcor Commercial Real Estate has completed a 617-unit self-storage facility in Tomball, located northeast of Houston. The facility sits on a 5.1-acre site at 11110 Hufsmith Road and spans 87,970 net rentable square feet across 510 climate-controlled units, 93 non-climate-controlled units and 14 dedicated boat and RV storage spaces. RightMove Storage will operate the facility. A ribbon-cutting ceremony took place on Wednesday, June 17, and a larger opening celebration is planned for the fall.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 46,822 SF Retail Center in Irving

by Taylor Williams

IRVING, TEXAS — Marcus & Millichap has brokered the sale of Market Square, a 46,822-square-foot retail center in Irving’s Las Colinas district. Market Square was built in 1984 and houses a mix of service-oriented tenants under triple-net agreements. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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Imperial-Crossing-Houston
DevelopmentIndustrialTexas

Transwestern Completes 321,104 SF Industrial Project in North Houston

by Taylor Williams

HOUSTON — Transwestern has completed Imperial Crossing, a two-building, 321,104-square-foot industrial project located at the intersection of Richey Road and Imperial Valley Drive in North Houston. Building 1 totals 242,603 square feet and features a cross-dock configuration and 36-foot clear heights. Building 2 spans 78,501 square feet and has a front-load design and 32-foot clear heights. Both buildings can accommodate tenants with full-building requirements or spaces as small as 35,000 square feet. Transwestern is also the leasing agent for Imperial Crossing.

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AcquisitionsDevelopmentMultifamilyTexas

PCC Acquires 252-Unit Multifamily Complex in San Antonio, Plans Capital Improvements

by Taylor Williams

NEW BRAUNFELS, TEXAS — Metro Denver-based investment firm Platte Canyon Capital (PCC) has acquired Northwood Apartments, a 252-unit multifamily complex located northeast of San Antonio in New Braunfels. Northwood Apartments was built in phases between 1998 and 2017 and offers one- and two-bedroom units. PCC plans to update and renovate amenity spaces, including the pool, fitness center, parking areas and clubhouse, as well as building exteriors. The property was 70 percent occupied at time of sale. The undisclosed seller was the property’s original developer.

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