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IndustrialLeasing ActivityTexas

Creative Innovation Signs 496,560 SF Industrial Lease in Pearland, Texas

by Taylor Williams

PEARLAND, TEXAS — Creative Innovation has signed a 496,560-square-foot industrial lease in the southern Houston suburb of Pearland. The third-party logistics provider will occupy an entire cross-dock building within Levey Logistics Park, a 38-acre development. Allison Bergmann and Michael Foreman with Cushman & Wakefield represented the landlord, local owner-operator Levey Group, which developed the property in partnership with the Pearland Economic Development Corp., in the lease negotiations. Local industrial brokerage firm USWHSE Inc. represented the tenant.

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AcquisitionsIndustrialOfficeTexas

Partners Capital Acquires 228,597 SF Industrial Flex Portfolio in Houston

by Taylor Williams

HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has acquired a portfolio of three industrial flex properties totaling 228,597 square feet in Houston. The HTX Service Center Portfolio comprises Lakes at 610 Service Center, Willowbend Service Center and Wilcrest Green Service Center and consists of five buildings on a combined 14 acres. The portfolio was 68.5 percent leased at the time of sale. Michael Martin of Avison Young represented Partners Capital in the transaction. The seller was not disclosed.

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DevelopmentOfficeTexas

New York Life Begins Renovation of 196,656 SF Office Building in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — New York Life Real Estate Investors has begun the renovation of One Hanover, an eight-story, 196,656-square-foot office building located in the northern Dallas metro of Addison. Renovations will entail a reimagining of the lobby and upgrades to amenity spaces, including the fitness center, tenant lounge and boardroom. New York Life took ownership of One Hanover in late 2023 and subsequently built out and leased several speculative suites. The company has tapped Stream Realty Partners as the leasing agent.

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AcquisitionsIndustrialOfficeTexas

LanCarte Commercial Arranges Sale of 150,000 SF Industrial Flex Building in Rhome, Texas

by Taylor Williams

RHOME, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of a 150,000-square-foot industrial flex building in Rhome, located north of Fort Worth in Wise County. The building at 138 Leopard Road is located within 114 Industrial Park, which is also home to tenants such as Valor Steel, Texas Truck Doctor, HASA, Northwest ISD, Bulldog Services, Red River Tea and Spartan Group. Mark Boone and Sarah LanCarte of LanCarte Commercial represented the undisclosed seller in the transaction.

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LoansMultifamilyNorthmarqTexas

Avatar Financial Provides $7.3M Bridge Loan for Two Houston Multifamily Properties

by Taylor Williams

HOUSTON — Seattle-based lender Avatar Financial Group has provided a $7.3 million bridge loan for the refinancing of two garden-style multifamily properties in Houston. Donovan Village is a 78-unit complex on the city’s northwest side, and Station Apartments is a 60-unit complex in the Greater Heights area. The loan carries a two-year term and an a 70 percent loan-to-value ratio. Chad Owens of Northmarq arranged the debt. The borrower was not disclosed.

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DevelopmentIndustrialTexas

TCC, Barings Break Ground on 804,283 SF Industrial Project in Socorro, Texas

by Taylor Williams

SOCORRO, TEXAS — A partnership between Trammell Crow Co. and Barings has broken ground on Speedway Logistics, an 804,283-square-foot industrial project in Socorro, a border city located just southeast of El Paso. The two-building development will sit on a 60-acre site and will be constructed on a speculative basis. The buildings will total 426,868 and 377,415 square feet and will both feature cross-dock configurations and 36-foot clear heights. Powers Brown Architecture designed Speedway Logistics, and Catamount Constructors is serving as the general contractor. CBRE is the leasing agent. Bank OZK is financing construction of the project, which is expected to be complete next summer.

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DevelopmentIndustrialLoansTexas

Thorofare Capital Provides $36M in Financing for Industrial Project in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Southern California-based Thorofare Capital has provided $36 million in financing for a three-building, 343,728-square-foot industrial project in the Central Texas city of San Marcos. The loan carries a floating interest rate, and the project is expected to be complete in September. The Thorofare team behind the transaction included Scott Sumida, Andrew Kim, Paul Hachigian, Paul Kim and Jason Campbell. The names of the direct lender and borrower were not disclosed.

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AcquisitionsDevelopmentMultifamilyTexas

Weitzman Arranges Sale of 6.5-Acre Multifamily Development Site in Southwest Dallas

by Taylor Williams

DALLAS — Weitzman has arranged the sale of a 6.5-acre multifamily development site in southwest Dallas. The site is located at the corner of Illinois Avenue and Knoxville Street, across from the Dallas College Mountain View campus. Scott Smith and Corbin Tanenbaum of Weitzman represented the seller and occupant, the Templo De Alabanza Church, in the transaction. The buyer, Generation Housing Partners LLC, in partnership with the City of Dallas, will develop a mixed-income project on the site that will be known as HiLine Illinois.

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AcquisitionsIndustrialTexas

Partners Real Estate Brokers Sale of 64,881 SF Industrial Building in South Houston

by Taylor Williams

HOUSTON — Partners Real Estate has brokered the sale of a 64,881-square-foot industrial building that was constructed on a speculative basis in South Houston. According to LoopNet Inc., the building at 510 S. Sam Houston Parkway E sits on a 4.7-acre site and was completed last year. Travis Land and A.J. Williams of Partners represented the seller in the transaction. Chase Spence and Jeff Peltier of Colliers represented the buyer. Both parties requested anonymity.

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Leasing ActivityOfficeTexas

KONE Inc. Signs 30,973 SF Office Lease Renewal in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — KONE Inc. has signed a 30,973-square-foot office lease renewal in Allen, a northeastern suburb of Dallas. The elevator and escalator provider will continue to occupy space on the third floor of Allen Place I, a 102,471-square-foot building that was completed in 2015, for another 10 years. Richmond Collinsworth and Jared Laake of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Melissa Holland and Gregg Raus of JLL represented the tenant.

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