HOUSTON — Partners Real Estate has negotiated a 32,596-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant building at 14490 Wagg Way Road was originally constructed in 2014. Travis Land and Braedon Emde of Partners represented the landlord, United Equities, in the lease negotiations. Caleb Lawson of Flatrock Cos. represented the tenant, 2911 Fabrication.
HOUSTON — Alterra IOS (industrial outdoor storage) has acquired a 4.6-acre site in southeast Houston. The site at 9002 Wayfarer Lane houses 40,930 square feet of warehouse space, and an undisclosed, national trucking company recently renewed its lease at the property. Zane Carman of Partners Real Estate brokered the sale. The seller and sales price were not disclosed.
DALLAS — A partnership between locally based oil and gas company Gulf Coast Western and regional investment firm Enverra Real Estate Partners has purchased Parkway Office Center North and South in North Dallas. The two nine-story buildings total 230,000 square feet. JLL represented the seller, Principal Financial, the property’s previous lender that sold its interest in the loan, in the transaction. As part of the purchase, the partnership acquired the loan and foreclosed on the previous borrower. Gulf Coast Western has been the a tenant at the property for the past 12 years, and the partnership plans to undertake capital improvements. Renovations will include façade upgrades; garage and landscaping enhancements; construction of 38,000 square feet of spec suites; facelifts to lobbies, cafés and common areas; and the addition of amenities such as a fitness center, lounge, conference room and a golf simulator.
MAGNOLIA, TEXAS — New Hope Housing (NHH), a nonprofit affordable and workforce housing owner-operator, is underway on construction of a 120-unit affordable seniors housing project that will be located in the northwestern Houston suburb of Magnolia. The site at 7520 Avenue C spans 3.5 acres, and the development will house 90 one-bedroom units and 30 two-bedroom units. Of those, 19 units will be reserved for households earning 30 percent or less of the area median income (AMI); 44 units will be made available to seniors earning 50 percent or less of AMI; and 57 units will be earmarked for renters earning 60 percent or less of AMI. Amegy Bank provided $20 million in construction financing for the project, which is expected to be complete in 2026.
PASADENA, TEXAS — Alterra IOS has acquired a five-acre industrial outdoor storage site in the eastern Houston suburb of Pasadena. The site at 5100 Underwood Road currently houses 57,500 square feet of warehouse space and was acquired off-market via a sale-leaseback with the seller and tenant, an undisclosed national industrial chemical cleaning company. The sale-leaseback agreement spans 10 years and also includes two other properties.
PRINCETON, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Victory Shops at Princeton, a 10,157-square-foot retail strip center located northeast of Dallas. The center was fully leased at the time of sale to tenants such as Dunkin’ and Jersey Mike’s. Hudson Lambert and Jennifer Pierson of STRIVE represented the seller, a local developer, in the transaction and procured the out-of-state buyer.
DALLAS — Public transportation operator Dallas Area Rapid Transit (DART) has signed a 10-year, 4,146-square-foot office lease at Knoll Trail Crossing, a 96,509-square-foot building in North Dallas. The building underwent renovations in 2022 and now includes move-in ready spec suites, a modernized lobby, tenant lounge and an updated conference center. JLL represented the landlord, Prescott Group, in the lease negotiations.
IRVING, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Grand Riviera, a 206-unit apartment complex in Irving. The property was built in 1972 and offers one-, two- and three-bedroom units with an average size of 1,113 square feet. Amenities include two pools, outdoor grilling and dining stations, a clubhouse and a dog park. Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello and William Hubbard of IPA represented the seller, Eagle Property Capital, in the transaction and procured the buyer, Lone Star Capital.
DALLAS — Grey Swan I, a general partner equity fund backed by North Texas-based development and investment firm M2G Ventures, has purchased a two-building, 150,000-square-foot industrial portfolio in southwest Dallas. The multi-tenant, shallow-bay buildings are situated on a seven-acre site at 4647 Mint Way. According to LoopNet Inc., the site is located within Mint Way Business Park, and the buildings were constructed in 1975 and feature 20-foot clear heights. Chase Miller of NAI Robert Lynn represented M2G Ventures in the transaction. The seller and sales price were not disclosed.
FLOWER MOUND, TEXAS — A partnership between Hopewell Development and MBK Industrial Properties has broken ground on Lakeside Business Center, a 123,910-square-foot building in Flower Mound, a city located in the northern-central part of the metroplex. Lakeside Business Center will consist of two buildings with 32-foot clear heights, a 200-foot shared truck court, ESFR sprinkler systems and a total 16 dock doors and two ramped doors. Lee & Associates is marketing the development for lease and/or sale. Completion is scheduled for summer 2025.