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Midtown-905-Denton
AcquisitionsMultifamilyStudent HousingTexas

Vesper Holdings Acquires 432-Bed Student Housing Community in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Vesper Holdings has acquired Midtown 905, a 432-bed student housing community located near the University of North Texas campus in Denton. Built in 2011, the four-story building offers fully furnished units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a clubhouse, pool, game room and a coffee bar. Christopher Epp of Walker & Dunlop represented the undisclosed seller in the transaction. Gregg Wallace of AMA Financial and Geoff Smith of Walker & Dunlop placed acquisition financing for the new ownership, which also plans to invest $1.8 million in capital improvements to the property.

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BridgeLabs-at-Pegasus-Park-Dallas
DevelopmentLife SciencesTexas

Partnership Completes 135,000 SF Life Sciences Project in Northwest Dallas

by Taylor Williams

DALLAS — A partnership between Montgomery Street Partners and J. Small Investments has completed Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences development in northwest Dallas. The facility is part of Pegasus Park, which is a redevelopment of a 25-acre office campus that originally served as the home of Zale Corp., the parent company of jewelry retailer Zale. Campus amenities include a conference center, brewery, fitness center and outdoor dining and socialization spaces. Perkins + Will designed the project, and Swinerton served as the general contractor. JLL is the leasing agent for the broader campus, which the partnership owns in conjunction with Lyda Hill Philanthropies.

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AcquisitionsIndustrialTexas

Younger Partners Arranges Sale of Four-Acre Industrial Development Site in East Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a four-acre industrial development site on the east side of Fort Worth. The site at 2525 Handley Ederville Road offers proximity to both I-820 and State Highway 121 and formerly housed a 150,000-square-foot Advanced Foam Recycling facility. That property was destroyed in a fire in 2021, and the facility was subsequently razed. Michael Ytem of Younger Partners represented the seller, BridgeCap Partners, in the deal. Forrest Cook of Stream Realty Partners represented the buyer, an entity doing business as G-Catch LLC. The sales price and future plans for the site were not disclosed.

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Leasing ActivityOfficeTexas

PAGEWOOD, Wile Interests Welcome Three New Office Tenants to West Houston Campus

by Taylor Williams

HOUSTON — A partnership between two locally based firms, PAGEWOOD and Wile Interests, has welcomed three new office tenants to The Quad at Brittmoore, a four-building campus in West Houston that is a redevelopment of a former industrial park. Parker Noble and Matt Asvestas of Stream Realty Partners represented the partnership in all three lease negotiations. Noah Kruger of Savills represented global technology firm Homebase (10,588 square feet) in its lease negotiations, while Derick Perkins of Alpine Partners represented energy technology company Digital Wildcatters (4,829 square feet). Bryant Lach of JLL represented cloud technology services provider Siepe (4,451 square feet).

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Alliance-Westport-24
DevelopmentIndustrialTexas

Hillwood to Develop 1.1 MSF Spec Industrial Project at AllianceTexas in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Hillwood will develop a 1.1 million-square-foot industrial project on its AllianceTexas campus in North Fort Worth. Alliance Westport 24 will feature a cross-dock configuration, 40-foot minimum clear heights, 60-foot loading bays, 190-foot truck court depths and onsite infrastructure for future electric car and truck charging stations. In addition, the site is currently configured to support 394 car parking spaces and 227 trailer parking spaces but can be expanded to 564 and 704 spots, respectively. RGA Architects is designing the project, and Westwood is the civil engineering firm. Hillwood Construction Services will serve as the general contractor. Construction is scheduled to begin before the end of the month and to be complete in late 2025.  

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AcquisitionsIndustrialSelf-StorageTexas

Matthews Negotiates Sale of 270-Unit Self-Storage Facility in Round Rock, Texas

by Taylor Williams

ROUND ROCK, TEXAS — Matthews Real Estate Investment Services, a California-based brokerage firm, has negotiated the sale of a 270-unit self-storage facility in the northern Austin suburb of Round Rock. Life Storage operates the facility at 506 McNeil Road, which was originally constructed in 1980 and totals 28,450 square feet of net rentable space. Austin McLeod of Matthews represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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Leasing ActivityOfficeTexas

Rocktop Technologies Subleases 15,883 SF of Office Space in Irving

by Taylor Williams

IRVING, TEXAS — Rocktop Technologies, a provider of AI-driven financial valuation services, has subleased 15,883 square feet of office space at the Toyota Music Factory in Irving. According to LoopNet Inc., the property at 370 W. Las Colinas Blvd is a six-story, 166,698-square-foot complex that was originally built in 2018. Kevin McGee and Zach Stevens of NAI Robert Lynn represented the sublessee in the lease negotiations. The name of the sublessor and building owner were not disclosed.

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AcquisitionsNet LeaseRetailTexas

Hanley Investment Group Arranges Sale of 14,490 SF Retail Building Leased to Walgreens in Spring, Texas

by Taylor Williams

SPRING, TEXAS — California-based brokerage firm Hanley Investment Group (HIG) has arranged the sale of a 14,490-square-foot retail building in the northern Houston suburb of Spring that is net leased to Walgreens. The building was constructed in 2001 and is an outparcel to a Kroger-anchored shopping center. Kevin Fryman, Garrett Wood and Ed Hanley of HIG, in association with ParaSell Inc., represented the seller, a Houston-based private investor, in the transaction. Melissa Gerber Brams of Gerber Realty represented the Louisiana-based buyer. Both parties requested anonymity.

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Leasing ActivityOfficeTexas

RBC Wealth Management Signs 11,710 SF Office Lease in Southwest Austin

by Taylor Williams

AUSTIN, TEXAS — RBC Wealth Management has signed a seven-year, 11,710-square-foot office lease in southwest Austin. The financial services firm is taking space at the 124,405-square-foot Building II at Uplands Corporate Center. Ricky Whiteley of Cushman & Wakefield represented the tenant, which plans to take occupancy by the end of the year, in the lease negotiations. Matt Frizzell and Kevin Granger, also with Cushman & Wakefield, represented the landlord, San Francisco-based Drawbridge Realty.

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San-Jacinto-Marketplace
DevelopmentMixed-UseRetailTexasTop Stories

Fidelis Breaks Ground on 105-Acre Mixed-Use Redevelopment of San Jacinto Mall in Metro Houston

by Katie Sloan

BAYTOWN, TEXAS — Fidelis Realty Partners has broken ground on the redevelopment of San Jacinto Mall, a regional shopping mall located roughly 25 miles east of Houston in Baytown.  Dubbed San Jacinto Marketplace, the current phase of development will include 500,000 square feet of retail and restaurant space alongside Pelican Green, a public green space. The development in total is expected to span 105 acres and include residential, hospitality and office components upon completion.  Fidelis originally purchased 40 acres of the mall property, which opened in 1981, in July 2015 with a goal of owning 100 percent of the land for redevelopment. This process took Fidelis six years, with the final buildings — which were occupied by JCPenney and Macy’s — acquired by the locally-based firm in 2021.   The mall officially stopped operations in 2022, and Fidelis concurrently signed an agreement with the City of Baytown to pay $3.5 million as compensation and reimbursement as the project is being redeveloped. A timeline for the development was not announced, but Fidelis notes that the property will be home to somewhere between 15 and 20 restaurants with 10 major leases currently being negotiated.  “We have been faced with a number of challenges …

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