Texas

Westside-Village-Fort-Worth

FORT WORTH, TEXAS — A partnership between two locally based developers, Keystone Group and Larkspur Capital, is underway on Westside Village, a $1.7 billion mixed-use redevelopment project in Fort Worth. The 37-acre site is an assemblage of parcels that includes the former home of the Fort Worth Independent School District. Plans currently call for 880,000 square feet of office space, 238,000 square feet of retail, restaurant and entertainment space, 1,785 multifamily units and a 175-room hotel, all of which will be developed over four phases. Demolitions of multiple existing buildings on the site are now complete, and the project team has successfully rezoned about half the acreage. In addition, the first office and multifamily buildings within the development are now in the design phase, and construction of both buildings is expected to begin before the end of the year. Negotiations with several retailers are also underway, with construction of those individual buildings also slated to commence before the end of the year. 

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GCP-Paper-New-Caney

NEW CANEY, TEXAS — CBRE has arranged an undisclosed amount of construction financing for a 565,765-square-foot manufacturing project in New Caney, a northeastern suburb of Houston. The 32-acre site is located within East Montgomery Industrial Park, and the project is a build-to-suit for GCP Paper, a Mexican company that provides toilet paper, facial tissue and paper towels. The facility will consist of two interconnected single-story structures: an office/production warehouse and a mill building. The office/production warehouse will feature dock-high loading bays and concrete tilt-wall panel construction. Construction is slated for a summer 2026 completion. John Fenoglio and Brock Hudson of CBRE arranged the debt through Cadence Bank on behalf of GCP Paper in conjunction with Pontikes, which is serving as the fee developer for the project as well as the general contractor. The loan was structured a loan-to-cost ratio of 80 percent.

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PLANO, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Bellevue at Spring Creek, a 278-unit apartment complex located northeast of Dallas in Plano that was originally built in 1982. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 704 to 1,247 square feet. Amenities include two pools, a fitness center, playground, tennis court and a business center. The buyer was Dallas-based investment firm The ValCap Group, and the seller was not disclosed. Bellevue at Spring Creek was roughly 90 percent occupied at the time of sale.

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HOUSTON — World Emblem has signed a 72,000-square-foot industrial lease in northwest Houston. The Florida-based patch and insignia manufacturer is relocating and expanding from a nearby, 35,000-square-foot space to the building at 6740 Signat Drive. About 140 employees will work at the plant to start, and the company plans to reshore 50 jobs and add up to 100 additional staff at the facility, which will initially produce up to 500,000 emblems and patches per week. No third-party brokers were involved in the lease negotiations.

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CARROLLTON, TEXAS — FireTron Inc. has renewed its 15,486-square-foot lease at an industrial flex property in the northern Dallas metro of Carrollton. The provider of fire protection equipment will remain at Avion Business Center, which according to LoopNet Inc. was built in 1984 and totals 24,944 square feet. Jason Finch of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Tyler Maner and Will Mason of Stream Realty Partners represented the tenant.

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Midland-High-School

MIDLAND, TEXAS — The Independent School District (ISD) of Midland, located in West Texas, has begun the renovation of two high school campuses totaling 1.5 million square feet. Renovations at both Midland High School and Legacy High School will deliver career and technical education centers with specialized labs to support industry-aligned training and future workforce readiness. Project partners include Pfluger Architects, Satterfield & Pontikes and Lee Lewis Construction. Upon completion, which is slated for August 2028, each school will be able to accommodate about 4,200 students. The renovations are being financed with a $1.4 billion taxpayer bond that was passed last year.

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DALLAS — New York City-based Lument has provided a $33.6 million Freddie Mac construction loan for The Culbreath, a 364-unit affordable seniors housing project in Dallas. The Culbreath will be reserved for seniors age 62 or older and will consist of 270 one-bedroom units and 94 two-bedroom units. Amenities will include a clubhouse, fitness center, library, game room, multipurpose room, pool, pickleball and bocce ball courts and two dog parks. The opening is slated for summer 2027. Tracy Peters and Dale Giffey led the transaction for Lument on behalf of DHA Housing Solutions of North Texas and Volunteers of American National Services.

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SAN JUAN, TEXAS — Newmark has brokered the $7.6 million sale of a 54,608-square-foot retail and industrial building in San Juan, located in Hidalgo County in South Texas. The newly renovated building at 801 E. Interstate 2 will house the first store and showroom in the Rio Grande Valley for Bob Mills Furniture, which also purchased the building. Stewart Skloss of Newmark brokered the deal on behalf of Bob Mills Furniture. The seller was not disclosed.

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FORT WORTH, TEXAS — FedEx Ground Package System has renewed its 186,577-square-foot industrial lease in Fort Worth. The space is located within Carter Distribution Center, a four-building, 1 million-square-foot complex on the city’s south side that was originally built in 2018. Thomas Eddins of Fischer & Co. represented the tenant in the lease negotiations. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, PGIM.

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LA PORTE, TEXAS — Atlanta-based Stonemont Financial Group has purchased a 5.8-acre industrial outdoor storage (IOS) facility in La Porte, an eastern suburb of Houston. The site at 615 N. Sixth St. is located at the entrance to Port Houston’s Barbour’s Cut shipping terminal, and the property includes 61,000 square feet of office, maintenance and manufacturing space. The seller and sales price were not disclosed. Stonemont acquired the property in conjunction with a 5.3-acre IOS property in the metro Atlanta area.

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