NEW BRAUNFELS, TEXAS — Self-storage brokerage firm Versal has arranged the sale of the 85-unit McQueeney Boat & RV Storage facility in New Braunfels, located northeast of San Antonio. The facility spans 35,800 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller and procured the buyer in the transaction. Both parties were Texas-based entities.
PRYOR, OKLA. — TruCore Industrial, an Oklahoma-based investment firm founded by executives of net-lease brokerage group Stan Johnson Co., has sold a 70,000-square-foot warehouse in Pryor, located northeast of Tulsa. The building is situated on a 9.9-acre site within Mid-America Industrial Park and was fully leased at the time of sale to pipe and conduit manufacturer Endot Industries. The buyer and sales price were not disclosed.
CINCINNATI AND DALLAS — Fifth Third Bancorp (Nasdaq: FITB) has entered into a merger agreement to acquire Comerica Inc. (NYSE: CMA) in a transaction valued at roughly $10.9 billion. Under the terms of the all-stock transaction, Comerica’s stockholders will receive approximately 1.86 shares of Fifth Third common stock for each Comerica share they own. That condition translates to a per-share price of $82.88, which was Fifth Third’s closing stock price on Oct. 3, the last business day before the deal was formally announced. The closing price also represents a 20 percent premium to Comerica’s 10-day volume-weighted average stock price. Upon closing, which is expected to occur at the end of the first quarter of 2026, Fifth Third shareholders will own approximately 73 percent of the combined company, and Comerica shareholders will own approximately 27 percent. According to Fifth Third and Comerica, the newly formed company will have about $288 billion in assets under management (AUM), making it the ninth-largest U.S. bank by that metric. In addition, the combined entity will operate in 17 of what company officials have described as “the 20 fastest-growing markets in the country, including key regions in the Southeast, Texas and California.” Company officials also anticipate …
DALLAS — Marcus & Millichap has brokered the sale of Infinity on the Mark, a 373-unit apartment community located in the Lake Highlands area of North Dallas. The garden-style property sits on a 10-acre site and offers one- and two-bedroom units with an average size of 760 square feet. Amenities include three pools, a covered outdoor kitchen, fitness center and a clubhouse. A California-based limited liability company sold the property to Archway Equities for an undisclosed price. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap, in conjunction with Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware and William Hubbard of Institutional Property Advisors, a division of Marcus & Millichap, represented both parties in the transaction.
HOUSTON — Fertitta Hospitality, which is part of the entertainment empire of Houston Rockets owner Tillman Fertitta, has completed the multimillion-dollar renovation of the 200-room Westin Houston Downtown Hotel. The project involved the transformation of the lobby, including the bar, restaurant and lounge areas, as well as new flooring, furnishings and amenities in all guestrooms. Meeting spaces were also upgraded with new carpets, lighting and technological features, and the fitness center has received new equipment.
HOUSTON — Colliers has negotiated the sale of a 178,495-square-foot office building in West Houston. According to LoopNet Inc., the 10-story building at 2401 Fountain View Drive was built in 1981 and renovated in 2017 and offers amenities such as a conference center and an onsite restaurant. David Carter of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
MIDLAND, TEXAS — Speed Fab-Crete, a Fort Worth-based design-build firm and general contractor, has completed the 41,688-square-foot Classic Honda of Midland. The car dealership complex spans seven acres and houses a 36,869-square-foot main dealership building, a 3,343-square-foot pre-owned vehicle facility and a 1,476-square-foot car wash. Fort Worth-based Callahan & Freeman designed the project.
LA PORTE, TEXAS — Clay Development & Construction has broken ground on a 40,000-square-foot speculative industrial project in La Porte, located east of Houston. The site is located within the 300,000-square-foot Sens Road Business Park, and the building will feature 24- to 28-foot eave heights and build-to-suit office space. Completion is slated for the second quarter of 2026. Colliers is the leasing agent for the new building.
AUSTIN, TEXAS — Texas-based developer Presidium has completed Presidium Waterford, a 283-unit multifamily project in North Austin. Designed by Dallas-based O’Brien Architects and Atlanta-based Dwell Design Studio, the six-story building offers studio, one- and two-bedroom units and amenities such as a pool, fire pits, fitness center, office lounges and a bocce ball court. The property also features a courtyard with an outdoor kitchen and multiple social spaces. Rents start at $1,450 per month for a studio apartment. When construction began in spring 2021, the project was planned as Phase I of a larger development. Phase II is now known as Presidium 183 and has 374 units that are currently in lease-up.
HOUSTON — A partnership between Rice Real Estate Co., the property investment arm of Rice University, and Dallas-based Lincoln Property Co. (LPC) will develop The Arc at The Ion District, a 200,000-square-foot office and life sciences property in Houston. The Ion District is a 16-acre academic, research and development and innovation hub in Midtown Houston. Amenities at the new building will include a gym, lounge, conference and meeting spaces and outdoor event plazas. Rice University has committed to occupying 30,000 square feet of office and lab space at The Arc, construction of which is expected to begin in the second quarter of next year and to be complete in early 2028.