HOUSTON — Locally based brokerage and investment firm Finial Group has arranged the sale of a 51,892-square-foot industrial complex in northwest Houston. According to LoopNet Inc., the multi-building property at 12539 Perry Road was built on 4.7 acres in 1998 and features 31-foot clear heights. Andrew Bischoff and Tyler Holt of Finial Group represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed.
PLANO, TEXAS — Porch Warranty has signed an 11,569-square-foot office lease in Plano. The provider of home protection services is taking space within Assembly Park, a 180,000-square-foot property that is a redevelopment of the former Market Square Mall. Shannon Brown, Julee Amparo and Tommy Nelson of CBRE represented the landlord, Houston-based Triten Real Estate Partners, in the lease negotiations. Clay Vaughn and Olivia McNeel of Savills represented the tenant.
Editor’s note: (As of the publication of this article, Adam Gottschalk is no longer affiliated with STRIVE) By Taylor Williams The industry adage that “every deal is different” has never been an exaggeration or cop-out excuse for explaining trends and transactions — or lack thereof — in commercial real estate. It’s a simple fact that actually speaks to the nuanced, innovative and challenging structures and processes that permeate dealmaking in this business. The expression is especially applicable to investment sales and particularly convenient to invoke in times of rapidly shifting market and economic conditions. Therefore, a quasi-blanket statement that, all other factors behind held equal, Texas retail owners have minimal reason to sell right now must be evaluated in that context. As with any large sample size, there will always be multiple exceptions to the rule, and there will always be deals being brought to market as a function of an owner’s unique personal or capital situation(s). But by and large, outside of those scenarios, sources say that Texas retail owners don’t need to force things. “Unless there’s a life or a capital event — debt coming due or not wanting to add fresh equity to a deal — that …
GRAND PRAIRIE, TEXAS — JPI has received construction financing for Jefferson Southwest Parkway, a multifamily project in Grand Prairie, located roughly midway between Dallas and Fort Worth, that will add 439 units to the local supply. The loan amount(s) was not disclosed, but the project is valued at roughly $114 million. Jefferson Southwest Parkway will offer studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and a clubhouse. Anchor Loans, a private lending platform backed by New York City-based alternative investment management firm Pretium, provided the financing. Construction is slated for a 2027 delivery.
DALLAS — Colorado-based investment firm Real Capital Solutions (RCS) has acquired Walnut Glen, a 464,289-square-foot office building in North Dallas, for $26.1 million. The 18-story building, which is situated along North Central Expressway, was roughly 74 percent leased at the time of sale. RCS plans to upgrade the building’s lobby, fitness center and conference center and introduce move-in-ready office suites. Jonathan Napper of JLL brokered the deal. The seller was not disclosed. RCS has also hired Cushman & Wakefield as the leasing agent.
DALLAS —Locally based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Lake Lofts, a 386-unit apartment community in northeast Dallas. Built between 1965 and 1969, the property offers studio, one-, two- and three-bedroom units and amenities such as two pools, two children’s play areas, a soccer field, picnic stations and a dog run. Guillermo Gameros of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
PLANO, TEXAS — High Point has signed an 11,183-square-foot office lease in Plano. The family-owned, Christian travel agency is taking space within Assembly Park, a 180,000-square-foot property that is a redevelopment of the former Market Square Mall. Shannon Brown, Julee Amparo and Tommy Nelson of CBRE represented the landlord, Houston-based Triten Real Estate Partners, in the lease negotiations. Bret Hefton and Mason Graham of JLL represented the tenant.
CASTROVILLE, TEXAS — Microsoft plans to open a $400 million data center in Castroville, about 25 miles west of San Antonio, according to reports from multiple news outlets including Data Center Dynamics and My San Antonio. According to the latter publication, which cited a filing with the Texas Department of Licensing & Regulation, the facility will be known as SAT 82 and will span approximately 195,000 square feet. My San Antonio also reported that construction is scheduled to begin in August and to last about two years. In addition, Data Center Dynamics reports that Microsoft has other data center projects in the works in Castroville.
WACO, TEXAS — A partnership between Inland Real Estate Acquisitions LLC and The Scion Group has acquired View on 10th, a 718-bed student housing property located near Baylor University in Waco. View on 10th features 257 units and amenities such as a pool and hot tub, fitness center, business center with private study rooms, clubhouse and lounge and outdoor grilling and dining stations. The partnership acquired the property as part of a larger student housing portfolio deal that included a 622-bed complex in Charlottesville, Va., and a 489-bed property in West Lafayette, Ind. TSB Capital Advisors consulted for the buyers, and TSB Realty represented the undisclosed seller in the portfolio transaction. Walker & Dunlop originated fixed-rate loans for the portfolio through Freddie Mac.
RICHMOND, TEXAS — Forman Capital, a direct lender based in Florida, has provided a $37 million construction loan for The Oaks of District West, an 87,244-square-foot retail project in the southwestern Houston suburb of Richmond. Developed by Ferguson Family Partners, The Oaks of District West will consist of 10 buildings that are 70 percent preleased, as well as central green space. Tenants that have committed to the project include pickleball concept The PICKLR, Grazia Italian Kitchen, Luckie’s Burger, Pacific Coast Tacos, Virtual Golf Bar and Pecan Jack’s Ice Cream. Daniel Eidson of Concord Summit Capital arranged the debt. Construction is set to begin in the coming weeks and is expected to be complete by mid- to late 2027.