HOUSTON — Locally based brokerage firm Finial Group has negotiated an 18,812-square-foot industrial lease expansion and renewal in West Houston. According to LoopNet Inc., the property at 16670-16700 Park Row Drive was built in 1999 and totals 42,070 square feet. Jason Gibbons and Andrew Bischoff of Finial Group represented the undisclosed landlord in the transaction. The tenant is The Bayou City Hemp Co. Inc.
FORT WORTH, TEXAS — Three food-and-beverage operators will open new restaurants in downtown Fort Worth. The restaurants — Polanco, Reata and Bella Genta — will be located within 500 Throckmorton, a 37-story condo tower, and 500 Taylor, an 111,000-square-foot office project. Both buildings are part of a mixed-use development that is owned by SADA Capital Partners. Opening dates were not announced.
By Eric Burtt, executive vice president, partner development, Blue Stream Fiber In Texas, we pride ourselves on doing everything big. From booming cities to iconic skylines, the state is a magnet for growth and innovation. But when it comes to one of the most essential modern residential amenities — high-speed internet — multifamily properties aren’t always living up to the Texas standard. Connectivity has shifted from being a “nice-to-have” feature to a core utility in today’s real estate market. Just like water and electricity, residents expect fast, reliable internet to be ready from the moment they move in. For property owners and developers, the expectation is no longer just a service decision; it’s a marketing and investment decision. Why Connectivity Matters More Than Ever Internet use is not coming to a halt anytime soon. According to the National Telecommunications & Information Administration, in 2023, 13 million more people were online compared to just two years earlier. Today’s households download nearly 700 gigabytes (GBs) of data each month, and usage is still climbing. High-speed connectivity isn’t just about meeting tenant expectations. It’s also essential for protecting and growing property value. For owners and investors, properties with robust fiber connectivity lease faster, …
SAN FRANCISCO — OpenAI, along with Oracle Corp. (NYSE: ORCL) and SoftBank, has announced plans for the development of five new data centers in the United States. The new projects are part of the $500 billion Stargate initiative to expand American data center infrastructure, which was announced in January at the White House. Together with the flagship site in Abilene, Texas, the new data centers will bring Stargate to more than $400 billion in investment and almost 7 gigawatts (GW) of planned capacity over the next three years. OpenAI and Oracle will partner on three of the facilities — located in Shackelford County, Texas; Doña Ana County, New Mexico; and an additional site at an undisclosed location in the Midwest — which represent a $300 billion agreement between the companies. According to OpenAI, these projects are expected to create more than 25,000 onsite jobs and thousands of additional jobs throughout the country. Together, the facilities will offer up to 4.5 GW of capacity. A partnership between SoftBank and OpenAI will develop the other two data centers, which will have the capacity to scale to 1.5 GW over the next 18 months. One of the sites is located in Lordstown, Ohio, with …
NEW CANEY, TEXAS — The East Montgomery County Improvement District (EMCID) has begun vertical construction of a 210,000-square-foot convention center within the Valley Ranch master-planned development in New Caney, a northeastern suburb of Houston. The facility will feature a 55,000-square-foot ballroom/exhibit hall, nearly 20,000 square feet of meeting space and approximately 25,000 square feet of pre-function and lobby space and outdoor courtyards. Plans also call for an attached 813-space parking garage and connection to a full-service hotel. Completion is slated for fall 2026. Signorelli Co. is the master developer of Valley Ranch.
DALLAS — David Sutherland Inc. has signed a 187,013-square-foot industrial lease renewal in northwest Dallas. The provider of outdoor furniture and textiles will remain a tenant at the building at 140 Regal Row, which serves as its regional distribution hub. Chase Miller of NAI Robert Lynn represented the tenant in the lease negotiations. Chicago-based investment firm ML Realty Partners owns the property.
CHANNELVIEW, TEXAS — Apricus Realty Capital has acquired a 9.2-acre industrial outdoor storage (IOS) facility in Channelview, an eastern suburb of Houston. The facility at 403 W. Brentwood St. was fully leased at the time of sale to GFL Plant Services LP, which supports the petrochemicals industry. Apricus acquired the property in partnership with ABR Capital Partners. The seller and sales price were not disclosed.
HOUSTON — Locally based development and investment firm Triten Real Estate Partners has purchased a 140,181-square-foot industrial property in northwest Houston. According to LoopNet Inc., the building at 1811 Brittmoore Road, which was fully leased at the time of sale, was built in 2008 within a larger, master-planned business park. Stephen Bailey and Dom Espinosa of Newmark represented the undisclosed seller in the transaction.
KYLE, TEXAS — Extended Stay America has opened a 124-room hotel in Kyle, located roughly midway between Austin and San Antonio. Extended Stay will operate the hotel under its Premier Suites brand. Houston-based Provident Realty Advisors developed the four-story hotel, which offers complimentary breakfast, onsite guest laundry services, a 24-hour fitness room and additional vending options in the lobby.
HOUSTON — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to build a new $6.5 billion manufacturing facility at Generation Park, a 4,000-acre master-planned development in northeast Houston that is owned by McCord Development. The active pharmaceutical product (API) facility, which represents the second of four new U.S. sites that Lilly plans to announce this year, will be used to manufacture the company’s pipeline of small molecule medicines across therapeutic areas, including cardiometabolic health, oncology, immunology and neuroscience. The project is expected to be operational within five years. Lilly plans to bring 615 new, high-wage jobs to the greater Houston area, including engineers, scientists, operations personnel and lab technicians. The company also expects to generate 4,000 construction jobs as the project is built. The facility will be among those that will manufacture orforglipron, Lilly’s first oral, small molecule GLP-1 receptor agonist, which the company expects to submit to global regulatory agencies for obesity by the end of this year. “Our new Houston site will enhance Lilly’s ability to manufacture orforglipron at scale and, if approved, help fulfill the medicine’s potential as a metabolic health treatment for tens of millions of people worldwide who prefer the ease of a pill …