HOUSTON — Developers Milton Allen and Bobby Ferguson are underway on construction of an 83,750-square-foot office condo project in West Houston. Suites will come in a variety of sizes, and the condos will also include flexible workspaces. The project will deliver three properties that will all be marketed for sale upon completion, a tentative date for which was not disclosed.
DALLAS — Capital Institutional Services has signed a 24,106-square-foot office lease renewal at 1700 Pacific Ave. in downtown Dallas. The 49-story building totals approximately 1.3 million square feet and offers a food court, fitness center and conference facilities. Natalie Bode, John Pelletier and Darren Woodson of Cresa represented the tenant in the lease negotiations. The owner, Memphis-based development and investment firm Olymbec, was self-represented.
IRVING, TEXAS — Lee & Associates has negotiated an 18,924-square-foot industrial lease at 5325 FAA Blvd. in Irving. According to LoopNet Inc., the building features 24-foot clear heights, two dock-high doors and roughly 3,000 square feet of office space. Reed Parker of Lee & Associates represented the tenant, Reaction Audio Visual, in the lease negotiations. Mark Graybill and Ken Wesson, also with Lee & Associates, represented the landlord, Nuveen Real Estate.
IRVING, TEXAS — Lawn & Garden, a provider of lawncare products and equipment, has relocated its corporate headquarters from the northern-central metroplex city of Coppell to Esters 114 Business Center in Irving. Clint Madison, John Fancher and Randy Wood of Cushman & Wakefield represented the landlord, Stanton Road Capital, in the lease negotiations. Bill Buntyn and Dylan Smith of Colliers represented Lawn & Garden, which will occupy 11,409 square feet at Esters 114.
HOUSTON — Houston-based developer BHW Capital has completed Park on Napoli, a 239-unit apartment community on the city’s northwest side. Park on Napoli offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park and a resident clubhouse with coworking space. Houston-based Mucasey & Associates served as the project architect, and Blazer Building served as the general contractor. Texas Capital Bank provided construction financing. Rents start at roughly $1,300 per month for a one-bedroom apartment.
SAN ANTONIO — Northmarq has arranged a loan of an undisclosed amount for the refinancing of Plaza at Concord Park, an 82,824-square-foot office and retail complex in San Antonio’s Stone Oak neighborhood. The three-building complex was constructed in 2007 and houses tenants such as FedEx Office Print & Ship Center, Trend Aesthetics & Wellness, Jimmy John’s, Natural Remedy Store and First Watch. Bryan Leonard of Northmarq arranged the five-year, fixed-rate loan through an undisclosed life insurance company. The borrower was also not disclosed.
FRISCO, TEXAS — Locally based brokerage firm SHOP Cos. has negotiated the sale of Custer Road Commons, a 23,609-square-foot retail strip center in Frisco. At the time of sale, the center was fully leased to tenants such as Starwood Cafe, My Eyelab, Jason’s Deli, Zenith Clinic and Novuskin. Tim Axilrod and Tayler Rose of the SHOP Cos. represented the seller, a Texas-based limited partnership, in the transaction. The seller and sales price were not disclosed.
HOUSTON — Finial Group has brokered a 22,000-square-foot industrial lease in West Houston. According to LoopNet Inc., the building at 13750 FM 529 is situated within Vault 529 Industrial Business Park, a five-building complex. Jason Gibbons and Chase Tucker of Finial Group represented the undisclosed landlord in the lease negotiations. Chase Cribbs and Drew Donohue of Lee & Associates represented the tenant, SMP Industrial Control & Trading, a provider of power distribution equipment and other design solutions.
BEAUMONT, TEXAS — BioLife Plasma Services has signed an 18,000-square-foot retail lease at Beaumont Crossroads Shopping Center in East Texas. The blood donation center is backfilling part of a space formerly occupied by Stein Mart. Jason Gaines of Houston-based Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Matt Parsons of JLL represented the tenant, which now operates 25 facilities in Texas.
DALLAS — Commercial debt and equity financing firm Trez Capital has announced that after almost 26 years as chairman and CEO, firm founder Morley Greene will transition into the role of executive chairman. Moving forward, executives John Hutchinson and Dean Kirkham will serve as co-CEOs and take over leadership of day-to-day operations. In his new role, Hutchinson will continue focusing on the firm’s debt and equity origination business. Kirkham will continue focusing on the key pillars of risk and capital raising for Trez Capital. Together, they will set the mission, vision, values and strategic direction of the company. Hutchinson has been with the firm for more than 13 years, during which time he held progressively senior positions. He has more than 20 years of experience in financing residential development projects across a variety of markets and product types. Kirkham joined Trez Capital in 2016 as chief credit officer and has since taken on increasingly senior roles, culminating in his most recent position as president and COO. In addition, Kirkham was welcomed as a partner of the firm earlier this year along with John Maragliano, who joined the firm in 2021 as CFO. Maragliano, who has more than 25 years of …