HOUSTON — Fashion Wheels Inc. has signed a 33,376-square-foot industrial lease renewal in northwest Houston. The apparel wholesaler will remain a tenant at the building at 7108 Old Katy Road, which according to LoopNet Inc. was originally constructed in 1999 and totals 192,960 square feet. Chase McAteer of local brokerage firm Oxford Partners represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord, PGIM Real Estate.
AUSTIN, TEXAS — Barnes & Noble will open an approximately 20,000-square-foot store at Southpark Meadows, a regional power center located along I-35 in South Austin. The book retailer is backfilling a space previously occupied by Office Max with one of its smaller-format stores. Charlotte-based Big V Property Group owns Southpark Meadows, which is also home to tenants such as Walmart, Target, PetSmart, Ulta Beauty, Old Navy, J.C. Penney and Marshalls. A tentative opening date was not disclosed.
LONGVIEW, TEXAS — Locally based firm Scarborough Commercial Real Estate has arranged the sale of Hawkins Crossing, a 16,250-square-foot retail center located at 3052 N. Eastman Road in the East Texas city of Longview. The center was 93 percent leased at the time of sale to tenants such as Louisiana Cajun Kitchen, Fresh Dental and PURE Nail Salon. Stephanie Taylor of Scarborough Commercial represented the seller and sourced the buyer, both of which requested anonymity, in the transaction.
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesLoansMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern
Lee & Associates’ Report: Q2 Net Absorption Declines Across All Property Sectors Except Multifamily
Lee & Associates’ 2025 Q2 North America Market Report looks back at shrinking (or negative) net absorption for industrial, office and retail sectors in the last quarter. Meanwhile, multifamily tenant demand beat previous expectations in the same three months, as a feared recession failed to materialize. The mix of factors for absorption varied by property type: industrial and office markets saw increases in vacancy, while competition for retail space remained high, even in the face of high-profile closures. Lee & Associates’ full market report is available to read here (plus detailed vacancy rates, cap rates by city, market rents, square footage information, information on Canadian markets and more). The recaps for industrial, office, retail and multifamily sectors below detail trends and outlooks for each property sector in the remainder of 2025. Industrial Overview: Vacancies Rise, Rent Growth Slows Concern over the impact of tariffs has added to slowing tenant growth in logistics and manufacturing across North America. But the continued easing demand has resulted in more choices and benefits for users that have been subjected to a prolonged stretch of steep rent growth. Vacancies in the United States have risen to 7.4 percent, a decade-long high, while deliveries continued to outpace tenant expansion. Net absorption fell …
DALLAS — Northmarq has provided a $129.7 million Fannie Mae loan for the refinancing of The Victor, a 39-story apartment tower in the Victory Park area of Dallas. Completed in 2022, The Victor features studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and floor-to-ceiling windows, as well as built-in desks in select residences. Amenities include a pool, fitness center, game lounge, skyline terrace and a dog park. The Victor also houses 9,500 square feet of retail space. Kevin McCarthy, Jeff Frankel and Alex Czachor of Northmarq originated the financing, which was structured with a fixed interest rate and a 35-year amortization schedule, on behalf of the borrower, a joint venture between Houston-based Hines and Chicago-based Diversified Real Estate Capital.
HOUSTON — Jackson-Shaw will develop R45 Distribution Center, a 347,387-square-foot, cross-dock industrial project in North Houston. The North Texas-based developer closed on the 29-acre site at the northeast corner of Ella Boulevard and West Richey Road earlier this summer, and construction will begin in the coming days and last about 12 months. Project partners include Compatriot Capital as the equity partner and Inwood National Bank as the lender. ARCO Design Build is serving as the general contractor, and Kimley-Horn is the civil engineer. Colliers has been named the leasing agent.
ANNA, TEXAS — Hospitality owner-operator GTP Food Group will open three new restaurants in the North Texas city of Anna. The Gin will feature Southern cuisine, and Tenders Smokehouse will be a barbeque concept. The third restaurant will be Papa Gallo’s Mexican Grill & Margarita Bar. Combined, the restaurants represent a capital investment of about $10 million in the city’s downtown area, as well as the potential creation of about 100 new jobs. Construction is scheduled to begin in early 2026 and is expected to last about one year.
FORT WORTH, TEXAS — Cummings Electrical has signed a full-building, 66,882-square-foot industrial lease in Fort Worth. The electrical engineering and contracting firm is relocating from the nearby building at 14900 Grand River Road to Centreport Tech Center, a two-building complex on the city’s northeast side, via a 10-year deal. Jason Finch, Erik Blais and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, Fort Capital, in the lease negotiations. The deal brings Centreport Tech Center to full occupancy.
WEBSTER, TEXAS — Marcus & Millichap has brokered the sale of a 23,820-square-foot shopping center located in the southeastern Houston suburb of Webster. Built in 2004, Webster Shopping Center was 94 percent leased at the time of sale to tenants such as Freebirds and Buffalo Wild Wings. Justin Miller of Marcus & Millichap represented the seller, an out-of-state investor that acquired the center 20 years ago, in the transaction. Marcus & Millichap also secured the buyer, a local investor.
HOUSTON — Metro Denver-based Spartan Investment Group has agreed to purchase a portfolio of seven self-storage facilities totaling 3,497 units in the Houston area. The portfolio totals 463,185 net rentable square feet and includes four properties in Houston proper, as well as facilities in Katy, Rosenberg and Sugar Land. The seller and sales price, as well as the names of the operating entities of the facilities, were not disclosed. Spartan says that the formal closing date is imminent.