Texas

Pelican Builders Breaks Ground on 380-Unit Multifamily Project in Metro Houston

by Taylor Williams April 17, 2025

PEARLAND, TEXAS — Houston-based developer Pelican Builders has broken ground on a 380-unit multifamily project within Pearland Town Center on the southern outskirts of Houston. Pelican Builders purchased the site at 3200 Business Center Drive from Tennessee-based REIT CBL Properties, the master developer of Pearland Town Center, about two years ago. Units at the yet-to-be named apartment community will come in one- and two-bedroom floor plans and will range in size from 604 to 1,196 square feet. Amenities will include a pool, dog park, children’s play area, fitness center, business center and access to walking trails. Meeks + Partners is the project architect, and OHT Partners is the general contractor. Construction is slated for a second-quarter 2026 completion.

April 17, 2025

Loans Mixed-Use Texas

EMBREY Refinances 340,814 SF Mixed-Use Property in San Antonio

by Taylor Williams April 17, 2025

SAN ANTONIO — Locally based investment and development firm EMBREY has refinanced 7600 Broadway, a 340,814-square-foot mixed-use property in San Antonio’s Alamo Heights neighborhood. Completed in 2023, 7600 Broadway consists of 287,605 square feet of residential space across 216 units and 53,209 square feet of office space. The residential component, which features one-, two- and three-bedroom units, as well as a pool, fitness center and demonstration kitchen, was 96 percent occupied at the time of the loan closing. The office space is fully leased to EMBREY and Morgan Stanley. Robert Wooten, Jackson Finch and Meredith Sheeder of JLL arranged the refinancing, the amount of which was not disclosed, through Blackstone Mortgage Trust (NYSE: BXMT) on behalf of EMBREY.

April 17, 2025

Industrial Leasing Activity Texas

Cotton Commercial USA Signs 124,000 SF Industrial Lease in Brookshire, Texas

by Taylor Williams April 17, 2025

BROOKSHIRE, TEXAS — Cotton Commercial USA, a division of Houston-based Cotton Holdings Inc. that provides home restoration and similar services, has signed a 124,000-square-foot industrial lease in Brookshire, a western suburb of Houston. The space is located within Empire West Business Park, a 2.3 million-square-foot development. Jeremy Lumbreras, Matteson Hamilton and Justin Robinson of Stream Realty Partners internally represented the landlord in the lease negotiations. David Buescher and Jeff Cairns of JLL represented the tenant.

April 17, 2025

Acquisitions Industrial Texas

Triten Real Estate Acquires 4.5-Acre Industrial Outdoor Storage Facility in Selma, Texas

by Taylor Williams April 17, 2025

SELMA, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased a 4.5-acre industrial outdoor storage (IOS) facility in Selma, a northeastern suburb of San Antonio. The IOS facility at 16915 Alamo Parkway houses a 6,556-square-foot warehouse and office building with five dock doors. The seller and sales price were not disclosed.

April 17, 2025

Acquisitions Hospitality Texas

Xenia Hotels & Resorts Sells Fairmont Dallas for $111M

by Taylor Williams April 16, 2025

DALLAS — Xenia Hotels & Resorts (NYSE: XHR) has sold the 545-room Fairmont Dallas hotel for $111 million. The sales price equates to approximately $204,000 per room and represents a cap rate of 10 percent. The pet-friendly hotel, which opened in 1969, is located at 1717 N. Akard St. in the downtown area and offers both traditional guestrooms and suites. Amenities include a pool, meeting and event space and multiple onsite food-and-beverage options. The buyer was not disclosed. Xenia acquired the property in 2011 for $69 million.

April 16, 2025

Acquisitions Office Texas

Braun Enterprises Buys 426,000 SF Office Building in Houston’s Galleria District

by Taylor Williams April 16, 2025

HOUSTON — Local investment firm Braun Enterprises has purchased 3040 Post Oak, a 426,000-square-foot office building in Houston’s Galleria district. The building is situated adjacent to the Galleria Mall and offers amenities such as a tenant lounge and grab-and-go market. Braun plans to implement a capital improvement program that will include the addition of a modern fitness center, a new coffee bar and comprehensive lobby and exterior upgrades. Stream Realty Partners leases and manages the building. The sales price was not disclosed.

April 16, 2025

Development Multifamily Texas

Presidium Begins Leasing 374-Unit Apartment Community in North Austin

by Taylor Williams April 16, 2025

AUSTIN, TEXAS — Texas-based developer Presidium has begun leasing Presidium 183, a 374-unit multifamily project located near The Domain in North Austin. Designed by O’Brien Architects, Presidium 183 offers several different floor plans, and units are furnished with stainless steel appliances, quartz-style countertops and individual washers and dryers. Amenities include a coworking lounge with private offices, fitness center with yoga and spin studios, a speakeasy-style bar, entertainment room with a theater and golf simulator, outdoor game lawn, pool and a dog run. Construction began in late 2023. Rents start at roughly $1,320 per month for a studio apartment.

April 16, 2025

Acquisitions Hospitality Texas

Hunter Hotel Advisors Arranges Sale of 111-Room Hotel Near El Paso Airport

by Taylor Williams April 16, 2025

EL PASO, TEXAS — Hunter Hotel Advisors, an Atlanta-based brokerage firm, has arranged the sale of the 111-room Home2 Suites by Hilton El Paso Airport hotel. The hotel is located less than two miles from El Paso International Airport and offers amenities such as a pool, fitness center and complimentary breakfast. Kami Burnette of Hunter Hotel Advisors represented the undisclosed seller in the transaction. The buyer was San Diego-based owner-operator Pacific Pearl Hotels.

April 16, 2025

Leasing Activity Office Texas

Holt Lunsford Negotiates 21,000 SF Office Lease Renewal in Addison, Texas

by Taylor Williams April 16, 2025

ADDISON, TEXAS — Holt Lunsford Commercial has negotiated a 21,000-square-foot office lease renewal in the northern Dallas metro of Addison. The tenant is Foundation Energy Management LLC, and the space is located within Liberty Plaza II. Chase Stone and Hayden Parker of Holt Lunsford represented the landlord, Massachusetts-based Franklin Street Properties, in the lease negotiations. Mary Stoner Yost of Colliers represented the tenant.

April 16, 2025

Development Retail Texas

De La Vega Development Nears Completion of Phase I of Dallas Mixed-Use Project

by Taylor Williams April 15, 2025

DALLAS — De La Vega Development is nearing completion of Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway in Dallas. Phase I of the project features a central communal park known as The Pavilions at The Central that can also support retail and restaurant uses. Designed in collaboration with local architecture firms GFF and Bud Creative, The Pavilions features four interconnected structures with outdoor seating that are surrounded by various biophilic elements and spaces that promote communal gathering. In addition, the space is located across from The Oliver, a 19-story apartment building that developer StreetLights Residential recently began leasing. Full completion of the park and pavilions is slated for the summer.

April 15, 2025

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