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DevelopmentHospitalityTexas

Loews Opens $550M Hotel, Convention Center in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Loews Hotels & Co. has opened the Loews Arlington Hotel & Convention Center, a $550 million development located in between AT&T Stadium and Globe Life Field in the city’s Entertainment District. Loews developed the 888-room hotel and adjoining 266,000-square-foot convention center in a public-private partnership with the City of Arlington, the Texas Rangers baseball team and The Cordish Cos., a Baltimore-based owner-operator of entertainment venues. The 21-story hotel also connects to the 300-room Live! by Loews Arlington Hotel, which opened several years ago and offers an additional 300 rooms. The new hotel houses five food-and-beverage establishments and resort-style amenities such as two pools, a spa and salon, water slide and a man-made sandy beach. HKS served as the project architect, and Looney & Associates handled the interior design. JE Dunn served as the general contractor.

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AcquisitionsIndustrialTexas

Sealy & Co. Acquires 500,840 SF Industrial Property in Northwest Houston

by Taylor Williams

HOUSTON — Dallas-based investment firm Sealy & Co. has acquired The Great 290 Distribution Center, a newly built, 500,840-square-foot industrial property located near the intersection of The Grand Parkway and I-290 in northwest Houston. Designed by Powers Brown Architecture and developed by Pagewood, The Great 290 Distribution Center occupies 41 acres within a 64-acre site, allowing tenants additional space for outdoor trailer parking or materials storage. The property was fully leased at the time of sale to HVAC systems provider Daikin Comfort Technologies. Trent Agnew and Charlie Strauss of JLL represented Pagewood in the transaction. Sealy & Co. was self-represented.

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DevelopmentIndustrialTexas

Freehill Development Breaks Ground on 227,200 SF Industrial Project in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — Locally based firm Freehill Development Co. has broken ground on Hero Way West, a 227,200-square-foot industrial project in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings that will range in size from 24,500 to 129,000 square feet. The buildings will feature 28-foot clear heights and will be situated on a 16.8-acre site. JLL arranged construction financing and joint venture equity for the project, and Transwestern has been appointed as the leasing agent. Construction is expected to last about 12 months.

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AcquisitionsIndustrialTexas

Green Courte Partners Acquires 40-Acre Industrial Outdoor Storage Site in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Green Courte Partners, a Chicago-based real estate private equity firm, has acquired a 40-acre industrial outdoor storage site in Fort Worth. The parcel is located at 5301 Wilbarger St. on the city’s southeast side. Green Courte plans to operate the site as a managed truck storage facility. The land seller was a joint venture between Timber Hill Group and Champion Realty Advisors. The sales price was not disclosed.

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IndustrialLeasing ActivityTexas

Ambiance Textiles Signs 14,775 SF Lease Renewal at Industrial Flex Property in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Ambiance Textiles has signed a 14,775-square-foot lease renewal in Fort Worth. The 49,130-square-foot industrial flex building at 200 N. Vacek St. is located on the northwest fringe of the downtown area and was originally constructed in 1950, according to LoopNet Inc. David Cason and Jake Neal of Holt Lunsford Commercial represented the tenant in the lease negotiations. The landlord was not disclosed.

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Affordable HousingDevelopmentMultifamilyTexas

Palladium USA to Develop $35M Affordable Housing Project in Northeast Houston

by Taylor Williams

HOUSTON — Dallas-based multifamily developer Palladium USA will develop a $35 million affordable housing project in northeast Houston. Palladium Houston Ella will be a three-story, 146-unit building that will house one-, two- and three-bedroom units. About 78 percent (115) of the units will be reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium USA is developing the project in partnership with the Harris County Housing Finance Corp. HEDK Architects is designing the property, and Brownstone Construction is serving as the general contractor.

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Build-to-RentDevelopmentSingle-Family RentalTexas

Landmark Properties Breaks Ground on 190-Unit Build-to-Rent Project Near Houston

by Taylor Williams

CONROE, TEXAS — Landmark Properties has broken ground on The Everstead at Conroe, a 190-unit build-to-rent residential project on the northern outskirts of Houston. The site spans 23.5 acres, and the community will offer a mix of 56 two-bedroom and 134 three-bedroom ranch homes and townhomes. Amenities will include a pool, dog park, playground, pickleball and bocce courts, 567 parking spaces and a 2,817-square-foot clubhouse with a fitness center. Landmark Properties is co-developing the project with Open House Group Co. Full completion is slated for late 2025.

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IndustrialLeasing ActivityTexas

Finial Group Secures 18,600 SF Industrial Lease Renewal in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has secured an 18,600-square-foot industrial lease renewal in Houston. The tenant was B&T Rentals, and the space is located within Four Seasons Business Park on the city’s northwest side. According to LoopNet Inc., the single-tenant building at 6826 Bourgeois Road was constructed in 2015. Jack Gaffney and John Buckley of Finial Group represented the undisclosed landlord in the lease negotiations.

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Leasing ActivityOfficeTexas

Big 12 Conference Signs 14,107 SF Office Headquarters Lease in Irving

by Taylor Williams

IRVING, TEXAS — The Big 12 Conference has signed a 14,107-square-foot lease for its new office headquarters in Irving. The collegiate athletic league will relocate from 400 E. John W. Carpenter Freeway to the Williams Square complex this fall. Travis Boothe and Cynthia Cowen of Cushman & Wakefield represented the Big 12 in the lease negotiations. Bill Brokaw and Karch Schreiner of Hillwood Urban internally represented ownership, a partnership between Apollo Global Management, Vanderbilt Office Properties and Hillwood Urban.

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CivicDevelopmentTexas

Children of America to Open 10,000 SF Childcare, Education Center in Metro Houston

by Taylor Williams

CYPRESS, TEXAS — Children of America will open a 10,000-square-foot childcare and early education center at 20327 Longenbaugh Road in the northwestern Houston suburb of Cypress. Children of America Cypress Springs, which will be the organization’s third facility in the Houston area, will house 12 classrooms that can support about 175 students. The opening is slated for 2025.

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