HOUSTON — Marcus & Millichap has brokered the sale of a 124,000-square-foot healthcare property in the Spring Branch area of Houston. Originally constructed on a 4.3-acre site at 1615 Hillendahl Blvd. in 1965, the property formerly served as a 198-unit skilled nursing facility. Rod Llanos of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
BRIDGEPORT, TEXAS — Nashville-based brokerage firm Matthews has negotiated the sale of a 23,957-square-foot retail building, in Bridgeport, located northwest of Fort Worth. Tractor Supply Co. occupies the recently constructed building under a 15-year lease. Chad Kurz of Matthews represented the seller in the transaction, while Kevin McKenna, also with Matthews, represented the buyer, a California-based investor completing a 1031 exchange.
ARLINGTON, TEXAS — A joint venture between Trademark Property Co. and Harrison Street Asset Management is scheduled to break ground Monday, Aug. 3 on Anthem, a $135 million redevelopment of the 43-year-old Lincoln Square shopping center in Arlington. InterBank is providing refinancing and construction financing for the 43-acre project. Completion is slated for early 2028. After the demolition of 70,000 square feet of existing space, Anthem will feature 404,000 square feet of retail, food- and- beverage, public spaces and entertainment areas. Trademark will lead a full renovation of the property, including improvements to walkability and connectivity, as well as increased surface parking, new facades, branding and signage. Plans call for a public green space, curated public art program, outdoor seating, bike racks and event programming. Working closely in a public-private partnership with the Arlington Economic Development Corp. and the City of Arlington, Trademark has performed local market research through surveys, planning sessions and community meetings since becoming involved with the project in 2022. Trademark is in final lease negotiations for more than 35,000 square feet of retail and food-and-beverage tenants, many of which will be new to the market. Future plans for Anthem may include the integration of mixed-use components …
MARBLE FALLS, TEXAS — Rockspring, a Houston-based development and investment firm, is underway on The Highlands, a 254-acre mixed-use development in Marble Falls, about 50 miles northwest of Austin. Plans for the master-planned community currently call for an array of residential uses, including single-family homes, apartments and townhomes, as well as commercial space and parks/open green spaces. Rockspring has closed on a $28.2 million construction loan and is in the process of finalizing a public infrastructure development bond with the City of Marble Falls to finance predevelopment and sitework, costs of which are projected to exceed $70 million.
NORMAN, OKLA. — Gilbane Development has broken ground on a 756-bed student housing project in Norman, home of the University of Oklahoma. The 33-acre site is located less than a mile from the university’s campus, and the community will feature 298 units in addition to a landscaped open-space amenity area and onsite parking. Gilbane is developing the project in partnership with California-based Coleraine Capital Group. Santander Bank and Fifth Third Bank are financing construction, which is expected to be complete in time for the fall 2028 semester.
SUGAR LAND, TEXAS — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $22.7 million loan for the refinancing of Sugar Land Medical Plaza, a 120,000-square-foot healthcare property located on the southwestern outskirts of Houston. Colliers arranged the loan on behalf of the sponsor, a partnership between Harrison Street and Pinecroft Realty. Tremont funded the loan, which was structured with a three-year initial term and two one-year extension options, through its affiliate, Seven Hills Realty Trust (NASDAQ: SEVN).
THE WOODLANDS, TEXAS — Local brokerage firm Palo Duro Commercial Partners has arranged the sale of Shoppes at Sawdust, a 13,500-square-foot retail strip center located north of Houston in The Woodlands. The center was fully leased at the time of sale to tenants such as Jimmy John’s, Little Caesars and Cloud 9 Dental. Stephen Pheigaru and Chris Reul of Palo Duro brokered the deal. The buyer and seller were not disclosed.
EL PASO, TEXAS — Meta Platforms Inc. (NASDAQ: META), the parent company of Facebook, Instagram and WhatsApp, and BlackRock Inc. (NYSE: BLK) have formed a joint venture to develop and operate a data center campus in El Paso. The companies project that total development costs for the 1-gigawatt (GW) campus will be approximately $14 billion. Meta will provide construction management, administrative and property management services for the campus and will be its initial sole occupant upon completion. The new data center campus “will play an essential role in bringing Meta’s AI technologies to life,” according to the companies. “Building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone,” says Mark Zuckerberg, founder and CEO of Meta. “Our partnership with Larry [Fink] and the team at BlackRock allows us to move faster and at greater scale — pairing our deep expertise in designing and operating world-class data centers with one of the world’s leading infrastructure investors.” Construction is currently underway in El Paso with approximately 2,300 workers onsite, according to Meta. The Menlo Park, Calif.-based company estimates that the project will employ 4,000 construction workers at its peak and 300 staffers once fully …
HOUSTON — Berkadia has brokered the sale of Harper’s Mill, a 180-unit apartment complex in northwest Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, business center, picnic areas and a playground. Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel, Jed Dalton and Tucker Fama of Berkadia represented the seller, Colorado-based investment firm InterUrban Cos., in the transaction. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and Kyle Ryan, also with Berkadia, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, Miami-based 12ten Capital.
SAN MARCOS, TEXAS —Houston-based owner-operator Triten Real Estate Partners will develop a 175,000-square-foot industrial project at 2651 Leah Ave. in San Marcos, located roughly midway between Austin and San Antonio. The 12-acre site is located less than a mile from I-35, and the shallow-bay building features suites with an average size of 11,000 square feet, as well as 28-foot clear heights, 140-foot truck court depths and both dock-high and grade-level loading doors. Construction is scheduled to begin before the end of the year and to be complete in mid-2027.