HOUSTON — Locally based brokerage firm NewQuest Properties has arranged the sale of a 139,538-square-foot retail building in West Houston. The vacant building, which is part of a larger development anchored by Target, Burlington and Marshalls, sits on 12 acres and was formerly owned and occupied by Sam’s Club. John Nguyen of NewQuest Properties represented the buyer, an entity doing business as SSS Marketplace on Eldridge LLC, in the transaction. James Namken and Kyle Knight of Weitzman represented the seller.
FRISCO, TEXAS — Three Pillars Capital has acquired Shops at The Gate, a 16,000-square-foot shopping center located north of Dallas in Frisco. The center was built on two acres in 2021 and consists of two buildings that were both fully occupied at the time of sale. The center is an outparcel to Domain at The Gate, a luxury apartment development fronting John Hickman Parkway. Mike Kennedy and Darrell Betts of Avison Young represented the seller, an undisclosed foreign investment group, in the transaction.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 5,500-square-foot industrial lease in South Fort Worth. According to LoopNet Inc., the newly renovated building at 9727-9733 South Freeway was built in 1978 and totals 16,060 square feet. Taylor Stell and Schaefer Amos of Lee & Associates represented the landlord, Bleecker Partners, in the lease negotiations. The name and representative of the tenant were not disclosed.
CONROE, TEXAS — Law firm Griffin, Cain & Herbig has signed a 5,000-square-foot office lease in Conroe, about 40 miles north of Houston. The firm is taking space at the new Woodforest Bank Building, which occupies a full city block in the downtown area. Lisa Hughes of SVN | J. Beard Real Estate — Greater Houston represented Woodforest National Bank in the lease negotiations.
HOUSTON — New York-based global investment firm GTIS Partners has begun construction on Port 225 Commerce Center, a 484,000-square-foot industrial project located near Port Houston in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled for a fall completion. Other project partners include Angler Construction, Powers Brown Architecture, Langan Engineering and Cushman & Wakefield as the leasing agent.
HOUSTON — Midway has broken ground on CITYCENTRE Six, a 320,000-square-foot office building within the locally based developer’s CITYCENTRE mixed-use destination in West Houston. Additionally, Midway has named global chemical and building materials supplier Dow as the anchor tenant. Dow will occupy about 208,000 square feet within the 19-story building, which will include 12,000 square feet of retail and restaurant space and onsite parking. The design team includes architect of record Kirksey, Munoz + Albin Architecture & Planning and OJB Landscape Architecture. Construction is slated for a 2026 completion.
TEXARKANA, TEXAS — A joint venture between two investment firms, New Jersey-based Reynolds Asset Management and Dallas-based Newport Capital Advisors, has purchased two multifamily properties in Texarkana, located near the Texas-Arkansas border. The sales price was $23 million. The properties include Westridge Apartments (176 units) and Park at Summerhill (184 units). The seller was not disclosed. John Hamilton of Marcus & Millichap brokered the deal. Allan Edelson and Joe Tarantino of Walker & Dunlop originated an undisclosed amount of Fannie Mae acquisition financing on behalf of the joint venture, which plans to invest $3 million in capital improvements across both assets.
HUMBLE, TEXAS — Colliers has brokered the sale of Deer Springs Apartments, a 128-unit multifamily complex located in the northeastern Houston suburb of Humble that was built in 1984. According to Apartments.com, the age-restricted complex offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the transaction. The undisclosed buyer plans to implement a value-add program.
DALLAS — Evans Senior Investments (ESI) has arranged the sale of Crystal Creek at Preston Hollow, a 119-bed seniors housing property located just north of downtown Dallas. Built in 2001 and renovated in 2018, the community offers assisted living, memory care and long-term care services. An undisclosed regional owner-operator sold the asset to Marcus Investments for an undisclosed price. Vitality Senior Living will take over as operator. The buyer plans to invest $9 million in additional renovations to the property.
AUSTIN, TEXAS — Legacy Partners and Bridge Investment Group have completed Camber Ranch, a 483-unit apartment community in northeast Austin. Designed by Humphreys & Partners, the community consists of 22 residential buildings separated by a large green belt and wetland with walking trails. Units range in size from 438 to 1,500 square feet. Amenities include a pool, fitness center, outdoor grilling areas, a demonstration kitchen, esports gaming center, podcast studios and a coworking lounge with a mix of common and private work areas. Monthly rent starts at $1,375. Construction began in summer 2021.