RICHMOND, TEXAS — JLL has arranged the sale of a 23,256-square-foot grocery store building in Richmond, located southwest of Houston, that is occupied by Sprouts Farmers Market. The newly constructed building is located within Waterview Town Center, a 143-acre mixed-use development. JLL represented the seller, metro Nashville-based GBT Realty, in the deal. JRW Realty represented the buyer, Southern California-based ExchangeRight.
ELLIS COUNTY, TEXAS — Locally based developer Huffines Communities has broken ground on Lakesong, a 2,700-acre master-planned community in Ellis County, located south of the metroplex. Plans for the mixed-use development, which encompasses the cities of Grand Prairie and Midlothian, currently call for approximately 5,000 single-family homes, 2,000 multifamily units and a 40-acre commercial district. Onsite amenities will include roughly 780 acres of open space and parks, a trail system and a 100-acre private lake, as well as several fishing ponds, pools, pickleball courts, sports facilities, a fitness center and multiple amenity centers. Construction on the first phase of single-family homes is underway, and the first model homes are expected to be complete late next year.
HOUSTON — Panelmatic Electrical Solutions has signed a 10-year, 728,080-square-foot industrial lease in North Houston. The manufacturer of switchgear systems will occupy the entirety of Westpoint 45, a newly developed, cross-dock facility that sits on a 42-acre site near the intersection of I-45 and Beltway 8. Building features include 40-foot clear heights, speculative office space and 180 trailer parking stalls. Richard Quarles, Mark Nicholas, Joseph Berwick and Eliza Klein of JLL represented the landlord, a partnership between locally based developer Vigavi and Principal Asset Management, in the lease negotiations. Wes Williams of Colliers represented Panelmatic.
SAN ANTONIO — A joint venture between Baltimore-based MCB Real Estate, Austin-based Epic Real Estate Partners and Centerbridge Partners LP has acquired Northwoods Shopping Center, a 439,569-square-foot retail power center in San Antonio. An H-E-B grocery store anchors the property and has operated at the site since its development in 1996. Additional tenants at the center, which was 91 percent leased at the time of sale, include Nordstrom Rack, Marshalls, Homesense, Barnes & Noble, Old Navy and Ulta Beauty. Truist Bank financed the acquisition. The seller and sales price were not disclosed.
SAGINAW, TEXAS — A partnership between Canadian owner-operator Tricon Residential and Texas-based developer HHS Residential has completed a 166-unit build-to-rent residential project in Saginaw, a northern suburb of Fort Worth. Residences feature three and four-bedroom floor plans and have attached two-car garages and fully fenced backyards. Amenities include a dog park and multiple outdoor recreational spaces. Information on starting rents was not announced.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has negotiated a 31,780-square-foot industrial lease in southwest Fort Worth. The building at 14485 U.S. Highway 377 includes 2,415 square feet of office space. Sarah LanCarte and Finn Wilson of LanCarte Commercial represented the undisclosed landlord in the lease negotiations. Jon McDaniel of NAI Robert Lynn represented the tenant, the Tarrant County Emergency Services District.
COLUMBUS, OHIO — Columbus, Ohio-based Huntington Bancshares Inc. (NASDAQ: HBAN) has entered into an agreement to acquire Cadence Bank (NYSE: CADE), which has headquarters in Houston and Tupelo, Miss., in an all-stock merger of regional banks that is valued at $7.4 billion. Under the terms of the agreement, Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock. Based on Huntington’s closing price of $16.07 per share on October 24, the last full day of trading before the deal was announced, the consideration implies a purchase price of $39.77 per share. Following the closing, which is expected to occur in the first quarter of 2026, Cadence Bank teams and branches will operate under the Huntington Bank name and brand. Cadence currently has about 390 locations across Texas and the surrounding Southern United States, and the new banking entity will have about $276 billion in assets under management. “This is an important next phase of growth for Huntington,” says Steve Steinour, chairman, president and CEO of Huntington Bancshares. “This partnership will extend the reach of our full franchise to 21 states and into new, high-growth markets for which we have a powerful playbook. Today’s announcement …
GALVESTON, TEXAS — Fertitta Hospitality, which is part of the entertainment empire of Houston Rockets owner Tillman Fertitta, has completed the multimillion-dollar renovation of the 180-room Holiday Inn Resort Galveston – On the Beach hotel in southeast Texas. The renovation delivered upgraded guestrooms, redesigned common spaces and new food-and-beverage offerings, as well as new promotional packages for guests. Specifically, guestrooms received new lighting, artwork and bathroom fixtures, while the lobby, ballroom, game room and lounge were all refreshed.
ALEDO, TEXAS — Elmore Investments has purchased land in Aledo, located west of Fort Worth, with plans to open a new sports facility. The 5.4-acre site at 400 Bailey Ranch Road is adjacent to Aledo High School, and the new facility will feature pickleball courts, tennis and padel courts, softball and baseball training facilities, a pro shop and a restaurant. Kristen Fegley and Ben Gehrke of LanCarte Commercial Real Estate represented the seller, an entity doing business as The Groves of Aledo, in the transaction. A construction timeline was not disclosed.
GARLAND, TEXAS — A partnership between Canadian owner-operator Tricon Residential and Texas-based developer HHS Residential has completed a 100-unit build-to-rent residential project in Garland, a northeastern suburb of Dallas. Residences will feature three- and four-bedroom floor plans and will have attached two-car garages and fully fenced backyards. Amenities will include a dog park and multiple outdoor recreational spaces. Information on starting rents was not announced.