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Build-to-RentDevelopmentSingle-Family RentalTexas

Tricon Residential Completes 148-Unit Build-to-Rent Project in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Tricon Residential, a subsidiary of Blackstone, has completed a 148-unit build-to-rent-residential project in the northeastern Houston suburb of Tomball. Tricon Willow Creek features three- to four-bedroom homes with four different configurations that are furnished with stainless steel appliances, granite countertops, two-car garages and fully fenced backyards. Amenities include a pool, playground, dog park and sports park. Tricon developed the property in partnership with HHS Residential, a division of Plano-based Highland Homes. Rents start at $2,289 per month for a three-bedroom home.

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LoansOfficeTexas

Lone Star PACE Arranges $3.5M in C-PACE Financing for North Dallas Office Tower

by Taylor Williams

DALLAS — Lone Star PACE has arranged $3.5 million in C-PACE financing for Meadow Park Tower, a 263,000-square-foot office building in North Dallas. The 15-story building was originally constructed in 1986 and last renovated in 2016. Bayview PACE provided the nonrecourse, fixed-rate financing, proceeds of which will be used to install sustainable energy-efficient windows and walls, LED lighting, improved HVAC systems and low-flow plumbing. Bradford Cos. owns the building, which was 90 percent leased at the time of the loan closing.

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Leasing ActivityOfficeTexas

Hicks Johnson Signs 21,000 SF Office Lease in Downtown Houston

by Taylor Williams

HOUSTON — Hicks Johnson PLLC has signed a 13-year, 21,000-square-foot office lease in downtown Houston. The litigation and arbitration law firm is taking space at 1550 on the Green, a 28-story, 375,000-square-foot building that the owner, international developer Skanska, completed earlier this year. Tyler Garrett and Chrissy Wilson of JLL represented Skanska in the lease negotiations. The deal brings the building to 54 percent occupancy. Hicks Johnson plans to take occupancy in late 2025.

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DFW-Commerce-Center
IndustrialLoansTexas

JLL Arranges Refinancing for Three Industrial Buildings Totaling 1.9 MSF at DFW International Airport

by Taylor Williams

DALLAS — JLL has arranged a loan of an undisclosed amount for the refinancing of three industrial buildings totaling 1.9 million square feet at Dallas-Fort Worth International Airport. The buildings in question are part of Phases II and III of the larger development known as DFW Commerce Center and feature 32- to 40-foot clear heights, 180- to 185-foot truck court depths and 399 total dock doors. Campbell Roche, Lauren Dow, Kristi Leonard, Ryan Pollack and Campbell Swango of JLL arranged the floating-rate debt through Ares Management Corp. on behalf of the borrower, a joint venture between Goldman Sachs Alternatives and CLX Ventures.

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DevelopmentIndustrialSelf-StorageTexas

MYCON Breaks Ground on 1,600-Unit U-Haul Self-Storage Facility in Haltom City, Texas

by Taylor Williams

HALTOM CITY, TEXAS — Dallas-based MYCON General Contractors has broken ground on an approximately 1,600-unit self-storage facility for U-Haul in Haltom City, located north of Fort Worth. The facility will consist of a 28,866-square-foot pre-engineered metal building designated for U-Box storage, a 81,978-square-foot self-storage building and five drive-up storage buildings totaling 15,500 square feet. The project marks MYCON’s eighth collaboration with U-Haul and follows the groundbreaking of an 800-unit facility in Denton. Completion is slated for a March 2025 completion.

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Build-to-RentDevelopmentSingle-Family RentalTexas

Tricon Residential Completes 155-Unit Build-to-Rent Project in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — Tricon Residential, a subsidiary of Blackstone, has completed a 155-unit build-to-rent-residential project in the northern Austin suburb of Leander. Tricon Bryson features three- to four-bedroom homes with six different configurations that are furnished with stainless steel appliances, granite countertops, two-car garages and fully fenced backyards. Amenities include a pool, playground, dog park and a fishing pond. Tricon developed the property in partnership with HHS Residential, a division of Plano-based Highland Homes. Rents start at $2,169 per month for a three-bedroom home.

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AcquisitionsMultifamilySeniors HousingTexas

ClearWorth Capital Sells 154-Unit Active Adult Community in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Metro Dallas-based investment firm ClearWorth Capital has sold Firewheel Town Village, a 154-unit active adult community in Garland, about 20 miles northeast of Dallas. Built in 2018, the property offers studio, one- and two-bedroom units and amenities such as a pool, clubhouse, TV lounge, salon, billiards room, fitness center and a computer/conference center. David Austin, Rob Key, Greg Toro and Cole Murphy of JLL represented ClearWorth in the deal and procured the buyer, Equity Partnership Holdings. The property was 98 percent occupied at the time of sale.

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AcquisitionsRetailTexas

Westwood Financial Buys 69,037 SF Shopping Center in Northwest Austin

by Taylor Williams

AUSTIN, TEXAS — Los Angeles-based investment firm Westwood Financial has purchased Trails at 620, a 69,037-square-foot shopping center in northwest Austin. The center was roughly 77 percent leased at the time of sale to tenants such as AT&T, Freebirds World Burrito, Black Rock Coffee, Restore Hyper Wellness, Kale Me Crazy, Mattress Firm and European Wax Center. Shea Petrick, Chris Gerard, and John Indelli of JLL represented the seller, Partners Capital, in the transaction.

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Market ReportsTexasTexas Market Reports

San Antonio Suburbs Step Up Their Game

by Taylor Williams

By Taylor Williams Earlier this year, data from the U.S. Census Bureau emerged stating that San Antonio had added 22,000 new residents between July 2022 and 2023, making it the nation’s fastest-growing city during that time. That figure exceeded the 18,900 new residents added between July 2021 and 2022 and brought the Alamo City’s total head count to about 1.5 million people, making it the seventh-largest U.S. city by population. With such growth comes pressure from both the anchor city and its surrounding municipalities to deliver solid employment, housing and recreation options for residents. City officials and leaders can make good on that charge by a variety of means and mechanisms, and rarely does one city or submarket’s blueprint for accommodating growth match that of another. As such, the suburbs surrounding the San Antonio area are increasingly standing on their own as unique communities that are more than capable of attracting quality housing development, national retail and restaurant users and new employment opportunities.  In this story, we take a closer look at specific projects and initiatives that are helping some of these municipalities effectively and efficiently ride the wave of regional growth.  Seguin: Revitalization 101 Located off I-10 on San …

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DevelopmentIndustrialTexas

Reports: Compass Datacenters to Undertake $300M Expansion of Metro Dallas Campus

by Taylor Williams

RED OAK, TEXAS — Compass Datacenters will undertake a $300 million expansion of its campus in Red Oak, a southern suburb of Dallas, according to reports from multiple publications, including the Dallas Business Journal and Data Center Dynamics. The former publication reports that the locally based owner-operator plans to add three more buildings totaling approximately 755,000 square feet, with each building measuring about 216,000 square feet. The DBJ also reports that construction is already underway on two of those buildings and is scheduled for completion in 2025 or 2026. Most recently, Compass partnered with Schneider Electric on a 103,000-square-foot, build-to-suit manufacturing facility on the Red Oak campus.

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