HOUSTON — Howard Hughes Holdings Inc. (NYSE: HHH) has broken ground on One Bridgeland Green, a 49,000-square-foot, mass timber office project in northwest Houston. The site is located within the 925-acre Bridgeland master-planned development. The design team includes San Antonio-based Lake Flato and Houston-based Kirksey Architecture. Tellepsen is the general contractor for the project, which is slated for a summer 2025 delivery. JLL has been tapped as the leasing agent.
AUSTIN, TEXAS — A partnership between St. Louis-based developer Sansone Group and Principal Asset Management has broken ground on Austin Hills Commerce Center, a 134-acre industrial project. The site is located 10 miles south of downtown Austin near the Tesla Gigafactory, and plans for the development call for six buildings totaling roughly 1.3 million square feet. Burton Construction is the general contractor for the project, and Stream Realty Partners has been appointed as the leasing agent. Austin Hills Commerce Center will be developed in phases, and Phase I will consist of three buildings totaling 538,000 square feet that are slated for a second-quarter 2025 delivery.
DALLAS — Driftwood Capital, a Miami-based lender, has provided a $30 million mezzanine loan for the refinancing of the 1,841-room Sheraton Dallas Hotel. Built in 1959, the recently renovated hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants in addition to standard hospitality amenities. The two-year, floating-rate loan includes three one-year extension options and supplements a $270 million senior loan provided by Goldman Sachs and JP Morgan Securities. The sponsor is San Francisco-based Chartres Lodging Group.
GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located roughly midway between Dallas and Fort Worth, has completed construction of two connecting Hilton-branded hotels totaling 276 rooms, as well as a new convention center. The 147-room Homewood Suites and 129-room Hilton Garden Inn are located within the 172-acre EpicCentral entertainment district and share a dual arrival lobby, reception area, lounge, bar and elevator lobby. Merriman Anderson Architects designed the properties, and Arch-Con Corp. served as the general contractor. Concord Hospitality will operate the hotels.
HOUSTON — Eco Thrift, a merchandiser of secondhand goods, has signed a 29,250-square-foot retail lease at Willowbrook Plaza in northwest Houston. AMC Theatres, Bed Bath & Beyond, buybuyBaby and World Market anchor the 392,542-square-foot power center. Austen Baldridge and Bob Conwell of NewQuest Properties represented the tenant in the lease negotiations. Radkey Jolink, Bruce Wallace and Cole Rainer of Jolink Wallace Commercial represented the landlord.
DALLAS — Partners Real Estate has brokered the sale of a 13,500-square-foot industrial building in the Dallas Design District. According to LoopNet Inc., the building at 155-165 Cole St. was originally constructed in 1966. Hanes Chatham Jr. and Graham Dressel of Partners represented the buyer, P4 Holdings, in the transaction. The seller and sales price were not disclosed.
DALLAS AND FORT WORTH, TEXAS — JLL has arranged a $108 million loan for the refinancing of a portfolio of 13 self-storage properties totaling 8,952 units in the Dallas-Fort Worth area. New York Life Real Estate Investors provided the five-year, fixed-rate loan, which was structured with interest-only payments and prepayment flexibility early in the term. John Bauman and Jordan Buck of JLL arranged the loan on behalf of the borrower, a joint venture between Houston-based Hines and Trez Capital.
HOUSTON — General contractors Skanska and B. Bell Builders have broken ground on the Jones Graduate School of Business, a $54.5 million academic building on the campus of Rice University in Houston. Designed by Houston-based Kirksey Architecture and Architecture Research Office, the new building will be integrated into McNair Hall, the current home of the business school. In addition to classrooms and office spaces, the new building will feature dining areas and private event rooms. Completion is slated for spring 2026.
DENTON, TEXAS — Dallas-based Urban Logistics Realty has sold Urban District 35, a four-building, 440,663-square-foot industrial property located in the North Texas city of Denton. The buyer was High Street Logistics Properties. The 31-acre site fronts I-35, and building features include 28- to 32-foot clear heights, 60-foot speed bays and ample car and trailer parking. Construction began in early 2022. Urban District 35 was 67 percent leased at the time of sale.
CLEBURNE, TEXAS — Marcus & Millichap has brokered the sale of U-Lock-It Mini Storage, an 224-unit self-storage facility in Cleburne, a southern suburb of Fort Worth. The facility totals 27,120 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction.