FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 25,400-square-foot industrial lease renewal in Fort Worth. The tenant, The Rios Group, which provides utilities engineering and consulting services, will remain a tenant at the 32-building, 1.4 million-square-foot Riverbend Business Park. Grayson Fleitz and George Jennings of Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The tenant was self-represented.
MANSFIELD, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Village at Broad II, a 17,112-square-foot retail strip center in Mansfield, a southern suburb of Fort Worth. The center was fully leased at the time of sale to tenants such as The Mill breakfast restaurant, TeaLatte Bar, SugaringNYC and fitness concept F45 Training. Hudson Lambert of STRIVE represented the locally based seller and procured the Nebraska-based buyer in the transaction. Both parties requested anonymity.
FORT WORTH, TEXAS — Locally based general contractor Linbeck Group has completed the $25 million Annie Richardson Bass Lower School at the 104-acre campus of private school Fort Worth Country Day. The 32,720-square-foot building can support about 325 students in grades first through fourth. Academic facilities include a library, two science labs, breakout study rooms and administrative offices for support counselors and healthcare personnel, as well as outdoor learning areas. San Antonio-based Lake|Flato Architects designed the project, and Dallas-based Hocker Design provided landscape architecture services. Construction began in early 2024.
PLANO, TEXAS — Comunidad Partners, an investment firm that specializes in affordable and workforce housing, has acquired the 302-unit Lakeshore at Preston Apartments in Plano. A lake lies at the epicenter of the garden-style property, which offers one- and two-bedroom units that are reserved for households earning 80 to 100 percent of the area median income. Other amenities include a pool, lounging areas, pickleball court and beach volleyball courts. CBRE represented Comunidad Partners and the seller, Chicago-based Waterton, in the transaction.
LITTLE ELM, TEXAS — Kroger has purchased 14 acres at the corner of U.S. Highway 380 and FM 2931 in Little Elm, located north of Fort Worth, with plans to open a new store. The deal follows last year’s announcement of developer Weber & Co. buying 22 acres at the same intersection for a 225,000-square-foot, Target anchored retail center that will be known as Bates Towne Crossing. Edward Bogel, Ryan Turner and David Davidson Jr. of Davidson Bogel Real Estate represented Kroger in the land acquisition. Stewart Flowers internally represented the locally based seller, Dollar-Flowers Realty Partners. A timeline for opening was not disclosed.
HOUSTON — Partners Real Estate has negotiated a 164,640-square-foot industrial lease within Cedar Port Industrial Park in southeast Houston. The tenant, German freight and forwarding operator deugro, will occupy the entirety of the cross-dock building at 2828 FM 1405, which sits on 47 acres and features 214 doors and 1,000 trailer positions. Gray Gilbert and Chris Haro of Partners represented the landlord, Illinois-based Dayton Street Partners, in the lease negotiations. Zane Carman, also with Partners represented the tenant.
FORT WORTH, TEXAS — UMC Energy Solutions has signed a 25,898-square-foot industrial lease in North Fort Worth. The provider of oil and gas production systems is taking space at Sylvania Industrial Park, a 64-acre, rail-served development that spans 890,000 square feet. Vic Meyer, Trey Goodspeed and Carter Sells of Holt Lunsford Commercial represented the tenant in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the landlord, CanTex Capital.
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Lee & Associates Report: Final Quarter 2024 Net Absorption Trends in Industrial, Office Likely Temporary; Multifamily, Retail Net Absorption Trajectories Stickier
Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much supply in the pipeline versus too little — are opposite for each sector. Similar mirroring due to reverse factors can be seen in the net positive absorption last quarter in office and multifamily. Net industrial absorption was down 45 percent in the last quarter of 2024, compared to the same quarter in 2023. However, vacancy rates are likely to decline this year due to a lower volume of construction starts completing in 2025. New in-office policies among prominent companies contributed to the office market’s second consecutive quarter of positive absorption, but overall, office vacancy numbers are expected to continue rising until 2026. Low vacancy and factors challenging development meant very few options for retail tenants seeking new, high-quality space. Retail tenants in the food and beverage arena have been taking advantage of increased national spending on food outside the home …
HUNTSVILLE, TEXAS — General contractor Hoar Construction has broken ground on a new project at Bowers Stadium on the campus of Sam Houston State University in Huntsville, located north of Houston. The project will replace the existing press box with a 47,060-square-foot, five-story building and a 13,300-square-foot covered exterior section. The new press box will feature updated concessions and restrooms, premium seating, luxury and presidential suites, a club area with access to outdoor balcony seating and a media center to enhance game-day coverage. Completion is slated for fall 2026.
NEW BRAUNFELS, TEXAS — Discount wholesale retailer Costco will open a new store in New Braunfels, a northeastern suburb of San Antonio, according to reports from multiple local news sources, including Community Impact Newspaper and My San Antonio. According to the former publication, the store will span about 158,000 square feet and will be located within Mayfair, an 1,800-acre master-planned development by Southstar. The latter publication reports that construction of the store carries a $33.8 million price tag and is expected to be complete in March 2026.