HOUSTON — Willowbrook LLC is underway on the renovation of Commons at Willowbrook, a 441,000-square-foot regional shopping center in northwest Houston. The capital improvement program includes widening the main access point, installing new monument signage and pylons and updating the landscape design. The center sits on 39 acres and is currently 85 percent leased to tenants such as Marshalls, HomeGoods, Ross Dress for Less, Michael’s, Total Wine & More, Ulta Beauty, DSW and Daiso. Willowbrook has tapped Avison Young to lease the property.
SAN ANTONIO — Dallas-based Carbon Shepherd Development has begun leasing a 78-unit seniors housing property in the Westover Hills area of San Antonio. Woodland Cottages Westover Hills offers one- and two-bedroom residential-style cottages that are furnished with stainless steel appliances and full-size washers and dryers, with attached garages and fenced backyards available in select residences. Amenities include a pool, clubhouse with a game room and a fitness center. Rents start at $2,700 per month for a one-bedroom home.
FORT WORTH, TEXAS — A partnership between Atlanta-based owner-operator Thrive Senior Living and locally based investment and development firm Orison Holdings will open Sagewood at Heritage Glen, a 75-unit complex that will be located in Fort Worth. The property will offer 50 assisted living suites and 25 memory care suites. Arrive Architecture Group designed the facility, which is scheduled to open in 2026.
FORT WORTH, TEXAS — A partnership between Phoenix-based developer Creation and a fund advised by Crow Holdings Capital will develop a 451,032-square-foot industrial project in North Fort Worth. Known as MC820 Logistics, the development will consist of three buildings on a 38-acre site that will have parking for 473 cars and 42 trailers. LGE Design Build is leading the architecture and construction aspects of the project in collaboration with Manhard Civil Consulting. The first phase of construction is scheduled to begin this summer and to be complete in late 2026. Holt Lunsford Commercial has been tapped as the leasing agent.
LUCAS, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 42-acre retail development site in Lucas, roughly 30 miles northeast of Dallas. The buyer, an affiliate of Dallas-based Malouf Interests, plans to develop a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park on the site. Michael Ytem and Tom Grunnah of Younger Partners represented both the buyer and the seller, JCBR Holdings, in the transaction. Construction is slated to begin in the fourth quarter, with completion anticipated for 2026.
CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of a self-storage facility in the northern Dallas metro of Carrollton. Extra Space Storage operates the facility, which was built in 1996 and expanded in 2001. The facility totals 114,236 net rentable square feet of space across 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were locally based entities that requested anonymity, in the transaction.
MISSOURI CITY, TEXAS — Stream Realty Partners has negotiated a 68,342-square-foot industrial lease in Missouri City, a southwestern suburb of Houston. According to LoopNet Inc., the building at 411 Cravens Road was built in 2020 and totals 290,373 square feet. Jeremy Lumbreras and Woody Hillyer of Stream represented the landlord, a partnership between New York-based Clarion Partners and 4M Investments, in the lease negotiations. Hunter Johnston of Bridge Commercial Real Estate represented the tenant, Jelly Comb Corp., a provider of computer keyboards and other office communications devices.
HOUSTON — Hanwha Power Systems Americas, which serves the oil and gas industry, has signed a 27,500-square-foot industrial lease in northwest Houston. The space is located at 8810 Wendigo Place. Ryan Hartsell and Austen Buckalew of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Travis Land and Braedon Emde of Partners Real Estate represented the landlord, United Equities.
NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units. A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus. Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms. The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …
HOUSTON — JLL has brokered the sale of Ashford 5, a portfolio of three office buildings totaling 570,045 square feet in West Houston. The eight-story buildings are situated on a 12.2-acre site adjacent to I-10 in the Energy Corridor area. Renovated between 2014 and 2016, the portfolio offers amenities such as a fitness center, tenant lounges and separate parking garages for each building. Marty Hogan, Kevin McConn, Rick Goings, John Ream and Clay Anderson of JLL represented the seller, a court-appointed receiver, in the transaction. The team also assisted the buyer, an entity doing business as LFFP Ashford Portfolio, in the assumption and modification of the seller’s in-place loan. At the time of sale, the portfolio had an occupancy rate of 58 percent and a tenant roster with a weighted average remaining lease term (WALT) of 4.7 years.