Texas

Weiser-Business-Park-Cypress

CYPRESS, TEXAS — A partnership between Trammell Crow Co. and Clarion Partners has completed a 521,600-square-foot industrial project in the northwestern Houston suburb of Cypress. The building is the fourth structure within Weiser Business Park and was delivered as part of the second phase of development. Building 4 features 36-foot clear heights and is more than 50 percent leased to Western Post, a provider of warehouse management services and logistics solutions. Phase I of Weiser Business Park added 557,490 square feet of space across three buildings that is now 61 percent leased. Seeberger Architecture designed the project, with construction handled by A&F General Contractors. Lee & Associates is the leasing agent.

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The-Harlow-Oklahoma-City

OKLAHOMA CITY — Institutional Property Advisors (IPA), a division of Marcus of Millichap, has arranged $63 million in financing for a project that will convert two historic buildings in downtown Oklahoma City into a 265-unit apartment complex. The buildings were originally constructed in the early 1920s, and the new complex will be the known as The Harlow. Amenities will include a fitness center, game room, pet spa, coffee shop, coworking space, conference rooms, movie theater, bowling lanes and group meeting space. Todd McNeill and Sunny Sajnani of IPA arranged the financing, which included a $40.3 million senior construction loan and an undisclosed amount of federal and state historic tax credit equity. The borrower was Gardner Tanenbaum. A construction timeline was not disclosed.

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CONROE, TEXAS — Unimacts, a provider of parts and products for the solar energy industry, has signed a 64,177-square-foot industrial lease at Northstar Industrial Park in Conroe, about 40 miles north of Houston. The 79-acre Northstar Industrial Park currently houses five buildings and could ultimately feature up to 750,000 square feet of distribution and manufacturing space once the undeveloped 31.5 acres are built out. Drew Coupe and Dawson Smith of Avison Young represented the landlord, BAUER Group, in the lease negotiations. Doc Perrier of Outpost Partners represented the tenant.

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SAN ANTONIO — General contractor Hensel Phelps has broken ground on a 37,000-square-foot ground loading facility at San Antonio International Airport. Designed by Page and Luis Vidal + Architects, the $62 million facility is part of a larger expansion project at the airport that includes a new 17-gate terminal. The facility, which will connect to Terminal A, will support five of the new gates and will house two levels of passenger seating, additional food and retail options, electronic charging stations, workstation areas and a lactation room. Completion is slated for early 2025.

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CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has negotiated two office leases totaling 10,500 square feet at 1801 S. Alameda St. in Corpus Christi. HVAC equipment distributor Johnstone Supply will occupy 7,000 square feet, and Refugee & Immigrant Center for Education & Legal Services will occupy 3,500 square feet. According to LoopNet Inc., the property was built in 1939 and totals 21,580 square feet. Matt Cravey of Cravey Real Estate Services represented the landlord, Six Points Partnership, in both sets of lease negotiations.

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Matt Mrva Pharmaceutical Manufacturing Site Selection Quote

Pharmaceutical companies have captured the interest of many developers and with good reason. Softening demand for traditional office space has planners looking for alternative uses to fill out business parks and multiuse developments, and drug makers represent a promising source of highly valuable occupancy. Speculative construction that accelerated during the pandemic has given pharmaceutical manufacturers plenty of options and enabled them to be choosy in site selection. However, to compete for end users, developers must ensure their properties offer the features and amenities drug makers seek, says Matt Mrva, northeast director of planning and landscape architecture at Bohler, a land development consulting and site design firm. “Simply adding a life sciences label on conventional flex space is unlikely to lure pharma companies. Research, lab and pharmaceutical manufacturing facilities often require specialized infrastructure and site layouts,” Mrva says. “Even if a property is zoned to allow for life sciences, design and development teams need to understand the proposed operations in order to optimize the facility.” Unique Facility Requirements Depending on anticipated needs, tenants may require advanced climate control and ventilation, redundant electrical feeds, high-volume water and sewer service, on-site wastewater pretreatment, backup power generation, reinforced floors to handle the weight of …

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FRISCO, TEXAS — HALL Group has opened a 214-unit apartment building that is part of the $7 billion redevelopment of the locally based developer’s flagship property in Frisco, HALL Park. The Monarch HALL Park is a 19-story building that is situated on a 5.8-acre site that is also the future home of Kaleidoscope Park. The complex offers 28 different floor plans and a 21,700-square-foot amenity center with a clubroom, fitness center, community kitchen, outdoor grilling and social areas. The park is scheduled to open in spring 2024. Information on starting rents was not disclosed.

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SAN ANTONIO — A partnership between Provident Realty Advisors and Trez Capital has acquired 42 acres in San Antonio for the development of a 215-site RV park. The development will be known as Roaming Trails RV Retreat (RTRV) Lake Calaveras and will offer multi-vehicle parking at every pad, back-in and pull-through spots, private fenced yards and weatherproof covers. Communal amenities will include a pool, package lockers and a dog park. Construction is scheduled to begin before the end of the year.

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Business-Center-at-Five-Corners-Houston

HOUSTON — Lecangs, a third-party logistics company and subsidiary of Loctek, has signed a 133,000-square-foot industrial lease in southwest Houston. The tenant is taking space at The Business Center at Five Corners, a five-building, 550,000-square-foot development by Levey Group. Joseph Smith, Nathan Wynne and Savannah Smith of CBRE represented Levey Group in the lease negotiations. Lecangs was self-represented. The Business Center at Five Corners is now fully leased.

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Gauge-Interwood-Logistics-Houston

HOUSTON — Gauge Real Estate Partners has broken ground on Gauge Interwood Logistics, a 95,886-square-foot industrial project in Houston. The site spans seven acres within the 440-acre Interwood Business Park on the city’s north side. The standalone, rear-load facility will feature 32-foot clear heights, 180-foot truck court depths, 19 trailer stalls and an ESFR sprinkler system. Powers Brown Architecture designed the project, and Rosenberger Construction is serving as the general contractor. Delivery is slated for early 2024.

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