Wednesday, May 14, 2025
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The-Penny-on-College-Main
DevelopmentMultifamilyStudent HousingTexas

Pinecrest Breaks Ground on 605-Bed Student Housing Project Near Texas A&M University

by Taylor Williams

COLLEGE STATION, TEXAS — Pinecrest has broken ground on The Penny on College Main, a 605-bed student housing project that will be located at 415 College Main St. near the Texas A&M University campus in College Station. The property will offer 199 units in studio, one-, two-, three-, four- and five-bedroom configurations with bed-to-bath parity, including townhomes. Shared amenities will include multiple study spaces, a resort-style pool, pickleball court, fitness center, package lockers, an automated market and a pet relief area and washroom. The development team for the project, which is scheduled for completion in summer 2027, includes Rhode Partners, Rycon Construction, Mitchell & Morgan and Rhode Interior Design. CIBC USA and First Bank of Chicago provided construction financing for the development.

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Residences-at-Kingwood-East
DevelopmentMultifamilyTexas

High Street Residential, Daiwa House Complete 181-Unit Multifamily Project in Metro Houston

by Taylor Williams

KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed a 181-unit multifamily project located on the northern outskirts of Houston in Kingwood. Residences at Kingwood East, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents the second phase of a larger development that comprised 240 apartments and 49 townhomes and was recently completed. Residences come in one-, two- and three-bedroom formats. Apartments have an average size of 1,046 square feet, and townhomes have an average size of 1,530 square feet. Amenities include a pool, grilling areas, fitness center, resident lounge and an entertainment kitchen. Rents start at $1,500 per month for a one-bedroom apartment. W Partnership served as the project architect, and Arch-Con Corp. was the general contractor. Additional project partners include engineering firm Kimley-Horn, KW Landscape Architects and Compass Design. Sumitomo Mitsui Trust Bank financed construction of the project.

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AcquisitionsIndustrialTexas

Apricus Realty, ABR Capital Buy 11-Acre IOS Property in Houston

by Taylor Williams

HOUSTON — A joint venture between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased an 11-acre IOS (industrial outdoor storage) property in Houston. The address was not disclosed. The joint venture acquired the rail-served property, which includes more than 100,000 square feet of existing facilities across multiple buildings, in a sale-leaseback with Box Gang Manufacturing, a locally based manufacturer of waste management products including dumpsters and trash bins. Nathan Mai and Carlton Anderson of Mohr Partners represented the joint venture in the transaction. C.W. Sheehan, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing for the deal.

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IndustrialLeasing ActivityTexas

Duralum Products Signs 57,000 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Duralum Products has signed a 57,000-square-foot industrial lease in northwest Dallas. The provider of patio covers and other home furnishings is taking space at 7 Justice Way, a single-tenant building that according to LoopNet Inc. was completed in 2023. Jason Moser and Giovanni Scardino of Stream Realty Partners represented the locally based landlord, Trive Capital, in the lease negotiations. David Eseke and Clay Balch of Cushman & Wakefield represented the tenant.

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East-Bay-Trade-Center-Baytown
DevelopmentIndustrialTexas

Rockefeller Group, Falcon Commercial Break Ground on 557,339 SF Industrial Project in Baytown, Texas

by Taylor Williams

BAYTOWN, TEXAS ­— A partnership between New York City-based Rockefeller Group and Falcon Commercial Development has broken ground on East Bay Trade Center, a 557,339-square-foot industrial project in the eastern Houston suburb of Baytown. The development will consist of two cross-dock buildings totaling 307,595 square feet and 249,744 square feet on a 39-acre site. Building features will include 36-foot clear heights and a combined 121 dock doors, eight grade-level ramps and parking for 303 cars and 166 trailers. Munson & Associates designed the project, and FCL Builders is serving as the general contractor. Waneck Civil Engineering and Colliers are also part of the project team. Construction is slated for a fourth-quarter completion.

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LoansMultifamilyStudent HousingTexas

BWE Arranges $23.5M Acquisition Loan for Student Housing Property Near Texas State University

by Taylor Williams

SAN MARCOS, TEXAS — BWE, a Cleveland-based commercial financial services firm, has arranged a $23.5 million acquisition loan for The Edge, a 553-bed student housing property that serves students at Texas State University in San Marcos. The Edge is located less than a mile from campus and offers one-, two-, three- and four-bedroom floor plans across 173 units. Amenities include a fitness center, clubhouse, study areas and a basketball court. Chris Carroll and Max Miller of BWE arranged the financing through Chicago-based Byline Bank. The borrower, Campus Realty Advisors, plans to use a portion of the proceeds to fund capital improvements.

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Leasing ActivityOfficeTexas

Law Firm Signs 52,000 SF Office Lease at Texas Tower in Downtown Houston

by Taylor Williams

HOUSTON — Skadden, Arps, Slate, Meagher & Flom LLP has signed a 52,000-square-foot office lease at Texas Tower, a 47-story skyscraper in downtown Houston. The global law firm will occupy space on two floors beginning in April 2026. Michael Anderson with Cushman & Wakefield represented the landlord, a partnership between Hines and Ivanhoe Cambridge, in the lease negotiations. Mark O’Donnell of Savills represented the tenant. The deal brings the 1.2 million-square-foot building to 99 percent occupancy.

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AcquisitionsRetailTexas

Edge Capital Markets Brokers Sale of 42,030 SF Retail Center in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — Edge Capital Markets has brokered the sale of Colonnade of The Woodlands, a 42,030-square-foot retail center located about 30 miles north of Houston. The center is home to tenants such as Gringo’s Mexican Kitchen, School of Rock, F-45 Training, Zoo Health Club and Bear Branch Animal Hospital. Micha van Marcke and Chace Henke of Edge represented the seller, a private limited partnership, in the transaction. John Fenoglio and Brock Hudson of CBRE arranged acquisition financing for the deal on behalf of the buyer, a limited liability company sponsored by The J. Beard Real Estate Co.

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IndustrialLeasing ActivityTexas

Stream Realty Partners Negotiates 32,238 SF Industrial Lease in Southeast Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated a 32,238-square-foot industrial lease in southeast Houston. According to LoopNet Inc., the building at 8300 Telephone Road was constructed in 1981 and totals 107,025 square feet. Tyler Maner and William Carpenter of Stream represented the landlord, Birtcher Anderson Davis, in the lease negotiations. Amy Patterson with Clay & Co. represented the tenant, First Choice Fasteners.

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SurePoint-Houston
DevelopmentIndustrialSelf-StorageTexas

SurePoint to Develop 687-Unit Self-Storage Facility in Humble, Texas

by Taylor Williams

HUMBLE, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 687-unit self-storage facility in Humble, a northeastern suburb of Houston. The site is located at the intersection of Sam Houston Tollway and Mesa Drive at the entrance to Johnson Development’s Fall Creek master-planned community. CubeSmart will operate the new facility, which will comprise 120,000 net rentable square feet of climate- and non-climate-controlled space. The facility will also feature boat/RV storage space and 10,000 square feet of mini-offices. Construction is set to begin before the end of the year. A tentative completion date was not announced. SurePoint is also planning a 761-unit facility in Missouri City.

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