SHERMAN, TEXAS — GREA, a multifamily brokerage firm with a dozen offices around the country, has negotiated the sale of Hilltop Village, a 248-unit affordable housing property in the North Texas city of Sherman. According to Apartments.com, Hilltop Village was built in 1969 and offers one-, two- and three-bedroom units. Residences are reserved for households earning 80 percent or less of the area median income. Amenities include a playground, volleyball court and outdoor grilling and dining stations. Mark Allen led the GREA team that brokered the deal. The seller was not disclosed. The buyer, Brazos Residential, plans to invest about $11 million in capital improvements to the property.
KINGWOOD, TEXAS — High Street Residential has broken ground on Reserve at West Lake, a 181-unit multifamily project located on the northern outskirts of Houston in Kingwood. High Street Residential is developing the project, which consists of 109 townhomes and 72 apartments and is the second phase of a larger development, in partnership with Japanese homebuilder Daiwa House Group. Residences will come in one-, two- and three-bedroom formats. Apartments will have an average size of 1,046 square feet, and townhomes will have an average size of 1,530 square feet. Amenities will include a pool, grilling areas, fitness center, resident lounge and an entertainment kitchen. W Partnership is the project architect, and Arch-Con Corp. is the general contractor. Delivery is slated for next summer.
LIBERTY HILL, TEXAS — Greysteel has arranged the sale of a 15-acre multifamily development site in Liberty Hill, about 40 miles north of Austin, that is approved for the construction of 345 units. The project, a construction timeline for which is still being finalized, will include a workforce housing component. J.R. Ellis of Greysteel brokered the deal. The buyer was a Dallas-based private investment group, and the seller was not disclosed.
SAN ANTONIO — Architecture firm Corgan has signed a 5,000-square-foot office lease at Frost Tower, a 24-story building in downtown San Antonio that was completed in 2019. Corgan, which has had an office in San Antonio for 25 years, is relocating from the building at 1777 NE Loop 410. David Ballard and Parker LaBarge of CBRE represented Corgan in the lease negotiations. Christi Griggs, also with CBRE, represented the landlord, Weston Urban, which developed Frost Tower in partnership with Dallas-based KDC.
KINGWOOD, TEXAS — High Street Residential is nearing completion of Residences at Kingwood, a 289-unit multifamily project on the northern outskirts of Houston. High Street Residential is developing the project, which consists of 240 apartments and 49 townhomes, in partnership with Japanese homebuilder Daiwa House Group. Residences come in one-, two- and three-bedroom formats and are furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Select units also feature private balconies/patios and garages. Amenities include a pool, grilling areas, fitness center with a yoga/Pilates studio, an outdoor workout area, resident lounge with an art gallery and an entertaining kitchen and a conferencing and remote-work suite. Residents also have access to a putting green, bocce ball courts, pickleball court, multiple outdoor dining areas and the Kingwood Greenbelt trail system. W Partnership is the development’s architect, and Robinson & Co. led the landscape design. Cadence McShane served as the general contractor. The first move-ins at Residences at Kingwood will begin in the coming weeks.
ARLINGTON, TEXAS — GREA, a multifamily brokerage firm with a dozen offices around the country, has arranged the sale of Sawyers Mill, a 133-unit apartment complex in Arlington. Built in 1969, Sawyers Mill offers one- and two-bedroom units and amenities such as two pools, a business center, outdoor grilling and dining stations and onsite laundry facilities. Mark Allen led the GREA team that brokered the deal. The buyer and seller were not disclosed.
TEXAS CITY, TEXAS — Wan Bridge, a Texas-based developer of build-to-rent residential communities, has completed a 76-unit project in Texas City, located southeast of Houston. The project represents Phase I of Crystal View at Lago Mar and features two-story, duplex and triplex homes that range in size from 1,429 to 1,883 square feet. Phase II will consist of 75 units that are expected to be delivered by the end of the year. Residents have access to a beach club and the 12-acre Lago Mar crystal lagoon, as well as kayaking and sailboarding rental services. Information on starting rents was not disclosed.
SAN ANTONIO — Partners Real Estate has negotiated a 23,880-square-foot office lease in northeast San Antonio. According to LoopNet Inc., the property at 11711 IH-35 was built in 1994, renovated in 2009 and spans 186,337 square feet. Dan Gostylo and Steve Garza of Partners represented the tenant, Workforce Solutions, a provider of job-seeking services, in the lease negotiations. Adam Lippstone of Caisson Real Estate Brokerage represented the undisclosed landlord.
HOUSTON — Square Robot Inc., a provider of energy equipment and solutions, has signed a 14,200-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 12302 FM 529 was built in 2014 and totals 55,516 square feet. Christian Villarreal and Jack Gaffney of Finial Group represented the tenant in the negotiations for the seven-year lease. Brandon Wuntch and Drew Altmann of Fritsche Anderson Realty Partners represented the undisclosed landlord.
By J. Wickam Zimmerman, CEO, Outside The Lines Inc. The use of artificial intelligence (AI) technology is growing in retail commerce, where it’s already helping businesses track inventory, forecast demand and suggest new products to consumers. But how does AI figure into retail real estate? Can it be used to enhance engagement and drive success at the properties themselves? Could it help entice shoppers to step away from their online shopping carts and venture out into the real world? The answer is a resounding yes, and we’re already seeing this play out in the Lone Star State. Creating Spaces That Attract & Retain With major Texas markets like Dallas-Fort Worth and San Antonio seeing record-high retail occupancy rates, many property owners are focused on capitalizing on this momentum. To keep foot traffic high and remain competitive with other local developments and online shopping, it’s more important than ever to create unique draws to centers. A key strategy involves creative placemaking and offering experiential destinations that are increasingly bolstered by technology, including AI. To stay ahead, retail centers today must offer an experience that can’t be replicated virtually. This requires having dynamic, interactive onsite features and leveraging technologies that are just …