ALLEN, TEXAS — A partnership between two investment firms, New York-based Town Lane and Dallas-based Gillon Property Group, has acquired Watters Creek Village, a 460,000-square-foot retail and office property located in the northeastern Dallas suburb of Allen. Built on 46 acres in 2008, Watters Creek Village consists of 360,000 square feet of retail space that is anchored by a Market Street grocery store and 100,000 square feet of boutique office space. Other retail tenants include Anthropologie, Barnes & Noble, Lululemon, Mi Cocina, Pure Barre, Sephora and Warby Parker. A fund backed by Ares Real Estate financed the acquisition. Kyle Minter, Conor Lalor, James Sharpe and Cole Frantz of Newmark represented the undisclosed seller in the transaction. Lalor also worked with Newmark’s Clint Frease and Bill Fishel to arrange acquisition financing on behalf of the new ownership, which plans to make capital improvements to the property.
CEDAR PARK, TEXAS — JLL has brokered the sale of a three-building, 271,689-square-foot industrial campus in Cedar Park, a northern suburb of Austin. Built in 2024 and known as New Hope, the campus spans 28.5 acres and houses shallow-bay, rear-load buildings that feature 32-foot clear heights, 200-foot truck court depths, 17 percent office finishes and a combined 82 dock-high doors and 579 parking spaces. Trent Agnew, Witt Westbrook, Kyle Mueller, Rob Ellwood and Patrick McCord of JLL represented the seller, a joint venture between three Central Texas investment firms, Riverside, Live Oak Group and Cordova Real Estate Ventures, in the transaction. The buyer was San Francisco-based Stockbridge.
IRVING, TEXAS — Atlanta-based brokerage firm Hunter Advisors has arranged the sale of Aloft Hotel Las Colinas, a 136-room hospitality property in Irving. The hotel was originally built in 2008. Amenities include an outdoor pool, fitness center, business center, meeting space and an onsite bar and restaurant. Kami Burnette and Mason McDavid of Hunter Advisors brokered the deal. The buyer and seller were not disclosed. The new owner plans to implement capital improvements.
HOUSTON — Local brokerage firm Final Group has negotiated a 12,500-square-foot industrial lease in northwest Houston. The deal is for the entirety of the building at 6770 Bourgeois Road, which according to LoopNet Inc. was constructed in 2012 and renovated in 2024. Christian Villarreal and Tyler Holt of Finial Group represented the tenant, Firetrol Protection Systems, in the lease negotiations. The name and representative of the landlord were not disclosed.
FORT WORTH, TEXAS — San Francisco-based intermediary Gantry has arranged a $60 million loan for the refinancing of a 1.4 million-square-foot industrial building in Fort Worth. An undisclosed insurance company provided the loan, which was structured with a fixed interest rate, interest-only payments and two one-year extensions. George Mitsanas, Tim Storey and Chad Metzger led the transaction for Gantry. The borrower was also not disclosed. The building was fully leased at the time of sale to a toy company.
WILMER, TEXAS — Alta Warehousing & Logistics has signed a 392,066-square-foot industrial lease in Wilmer, a southern suburb of Dallas. The California-based freight and storage operator will occupy the entirety of Building 2 at Port 45, a development that spans 568,868 square feet across two front-load buildings. James Friedrich of Cresa represented Alta in the lease negotiations. Ben Wallace of Colliers represented the landlord, Griffin Partners.
DALLAS — Cadence McShane has completed a 143,000-square-foot academic project in North Dallas. The Henry W. Longfellow Career Exploration Academy is a replacement school for the Dallas Independent School District. In addition to classrooms, the three-story building houses administrative offices, fine arts spaces, a theater, library, cafeteria and kitchen and physical education facilities. Huckabee designed the project.
PASADENA, TEXAS — Local brokerage firm Finial Group has negotiated a 24,150-square-foot industrial lease in Pasadena, an eastern suburb of Houston. The tenant is Paton Engineers & Constructors, and the space is located within the building at 218 N. Preston Ave., which according to LoopNet Inc. was completed in 2018. Jason Gibbons and Tyler Holt of Finial Group represented the undisclosed landlord in the lease negotiations.
By Taylor Williams Defined by Gemini as “the division of a system, structure or entity into two distinct branches or parts,” the term “bifurcation” is coming up more frequently in the context of industrial development in Texas — a sort of umbrella term for the process of establishing new subcategories of the property type. The past seven or so years have constituted one of the most massive industrial building booms in modern history. Like matches and gasoline, Americans’ newfound obsession with e-commerce paired with unimaginably low interest rates for much of that time, sparking an all-out industrial development and leasing mania. Capital flowed into the sector with insatiable appetite, eventually forcing yield-chasers to devise new means of unlocking value within the space lest they cannibalize each other. Of course, even before e-commerce irrevocably changed the way Americans shop and allowed industrial real estate to ascend as an institutionalized asset class, functional differences were recognized between manufacturing and distribution facilities, or between pure-play industrial and flex buildings. Investors understood the relative differences in how these subcategories of industrial product were built, operated and valued. And in terms of development, at the most basic level, the size of a building has always …
DENTON, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Arbor Ranch, a 297-unit affordable housing project in the North Texas city of Denton. The site at 2820 Roselawn Drive spans 22 acres, and the development will consist of nine three-story buildings that will house one-, two-, three- and four-bedroom units and will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, playground, barbecue and picnic areas, children’s activity room and a community lounge, and residents will also have access to various onsite social services. Younger Partners brokered the sale of the land. Truist Bank provided a $68 million construction loan for the project. The first units are expected to be available for occupancy early next year.