IRVING, TEXAS — Atlanta-based brokerage firm Hunter Advisors has arranged the sale of Aloft Hotel Las Colinas, a 136-room hospitality property in Irving. The hotel was originally built in 2008. Amenities include an outdoor pool, fitness center, business center, meeting space and an onsite bar and restaurant. Kami Burnette and Mason McDavid of Hunter Advisors brokered the deal. The buyer and seller were not disclosed. The new owner plans to implement capital improvements.
HOUSTON — Local brokerage firm Final Group has negotiated a 12,500-square-foot industrial lease in northwest Houston. The deal is for the entirety of the building at 6770 Bourgeois Road, which according to LoopNet Inc. was constructed in 2012 and renovated in 2024. Christian Villarreal and Tyler Holt of Finial Group represented the tenant, Firetrol Protection Systems, in the lease negotiations. The name and representative of the landlord were not disclosed.
FORT WORTH, TEXAS — San Francisco-based intermediary Gantry has arranged a $60 million loan for the refinancing of a 1.4 million-square-foot industrial building in Fort Worth. An undisclosed insurance company provided the loan, which was structured with a fixed interest rate, interest-only payments and two one-year extensions. George Mitsanas, Tim Storey and Chad Metzger led the transaction for Gantry. The borrower was also not disclosed. The building was fully leased at the time of sale to a toy company.
WILMER, TEXAS — Alta Warehousing & Logistics has signed a 392,066-square-foot industrial lease in Wilmer, a southern suburb of Dallas. The California-based freight and storage operator will occupy the entirety of Building 2 at Port 45, a development that spans 568,868 square feet across two front-load buildings. James Friedrich of Cresa represented Alta in the lease negotiations. Ben Wallace of Colliers represented the landlord, Griffin Partners.
DALLAS — Cadence McShane has completed a 143,000-square-foot academic project in North Dallas. The Henry W. Longfellow Career Exploration Academy is a replacement school for the Dallas Independent School District. In addition to classrooms, the three-story building houses administrative offices, fine arts spaces, a theater, library, cafeteria and kitchen and physical education facilities. Huckabee designed the project.
PASADENA, TEXAS — Local brokerage firm Finial Group has negotiated a 24,150-square-foot industrial lease in Pasadena, an eastern suburb of Houston. The tenant is Paton Engineers & Constructors, and the space is located within the building at 218 N. Preston Ave., which according to LoopNet Inc. was completed in 2018. Jason Gibbons and Tyler Holt of Finial Group represented the undisclosed landlord in the lease negotiations.
By Taylor Williams Defined by Gemini as “the division of a system, structure or entity into two distinct branches or parts,” the term “bifurcation” is coming up more frequently in the context of industrial development in Texas — a sort of umbrella term for the process of establishing new subcategories of the property type. The past seven or so years have constituted one of the most massive industrial building booms in modern history. Like matches and gasoline, Americans’ newfound obsession with e-commerce paired with unimaginably low interest rates for much of that time, sparking an all-out industrial development and leasing mania. Capital flowed into the sector with insatiable appetite, eventually forcing yield-chasers to devise new means of unlocking value within the space lest they cannibalize each other. Of course, even before e-commerce irrevocably changed the way Americans shop and allowed industrial real estate to ascend as an institutionalized asset class, functional differences were recognized between manufacturing and distribution facilities, or between pure-play industrial and flex buildings. Investors understood the relative differences in how these subcategories of industrial product were built, operated and valued. And in terms of development, at the most basic level, the size of a building has always …
DENTON, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Arbor Ranch, a 297-unit affordable housing project in the North Texas city of Denton. The site at 2820 Roselawn Drive spans 22 acres, and the development will consist of nine three-story buildings that will house one-, two-, three- and four-bedroom units and will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, playground, barbecue and picnic areas, children’s activity room and a community lounge, and residents will also have access to various onsite social services. Younger Partners brokered the sale of the land. Truist Bank provided a $68 million construction loan for the project. The first units are expected to be available for occupancy early next year.
DALLAS — Locally based hospitality investment and management firm NewcrestImage has completed the renovation of Hotel Mockingbird, a 296-room establishment in the Highland Park area of Dallas. In addition to various property upgrades, ownership introduced two new food-and-beverage concepts: Verse Kitchen and Bar, a speakeasy-style restaurant, and Raven, which offers refined drinks and light bites. NewcrestImage acquired the Hotel Mockingbird, formerly known as the Beeman Hotel, in October 2024. Coury Hospitality manages the hotel.
CELINA, TEXAS — Walmart has opened a 200,000-square-foot Supercenter store in the North Texas city of Celina. The store is located within Shawnee Trail, a 150-acre mixed-use project that is being developed by Trademark in partnership with family holding company Glendenning 1887 and the Celina Economic Development Corp. Construction of the first phase of the broader development of Shawnee Trail will begin next year and will include additional retail, restaurant and entertainment space, as well as parks and public spaces.
