NORMAN, OKLA. — Hospitality development and management firm Lambert is nearing completion of the NOUN Hotel, a 92-room boutique hotel located near the University of Oklahoma’s campus in Norman. The grand opening is scheduled for Thursday, Sept. 22. The four-story hotel, which will include two suites, will offer multiple food and beverage establishments and 3,900 square feet of meeting and event space.
ARLINGTON, TEXAS — Bassett Furniture, a Virginia-based manufacturer and retailer, has signed a 38,582-square-foot industrial lease at 1019 Enterprise Place in Arlington. Mark Graybill of Lee & Associates represented the landlord, High Street Logistics Properties, in the lease negotiations. Reed Parker, also with Lee & Associates, represented the tenant.
LUBBOCK, TEXAS — Texas-based brokerage firm Independence Commercial Advisors has negotiated the sale of Poka Lambro Shopping Center, a 37,500-square-foot retail property in Lubbock. Built on 4.9 acres in 1983, the property includes outparcels that house a Wells Fargo ATM and a recently renovated Burger King. Richard Mireles of Independence Commercial Advisors represented the undisclosed seller and procured the buyer, Texas-based NetCo Investments Inc., in the transaction.
SAN MARCOS, TEXAS — California-based developer Highpointe Communities has broken ground on Sendero at Trace, a $73 million multifamily project in the Central Texas city of San Marcos. The community will feature 399 one-, two- and three-bedroom units ranging in size from 775 to 1,300 square feet. The amenity package will comprise a pool, fitness center, clubhouse, outdoor gathering spaces and lifestyle programming services. The first units are expected to be available for occupancy by the end of 2023.
HOUSTON — A partnership between locally based investment firm Better World Holdings and New York-based Crown Capital Ventures has purchased Serenity at Cityside, a 362-unit multifamily property in Houston’s Galleria neighborhood. Built in 1968, the 32-building property offers one-, two- and three-bedroom units. According to Apartments.com, amenities include a pool, clubhouse and picnic areas. The new ownership plans to invest about $6 million in capital improvements and to rebrand the property as Aura Galleria. The seller was an entity doing business as CPEP Beverly Palms LLC. The sales price was not disclosed.
HOUSTON — International law firm Baker Botts has signed a 172,301-square-foot office lease extension at 910 Louisiana, a 50-story tower in downtown Houston. Originally developed in 1971, the 1.2 million-square-foot building has been renovated multiple times in subsequent years, most recently in 2020. Winfield Haggard Jr. and Chip Colvill of Cushman & Wakefield represented the landlord, Busycon Properties LLC, in the lease negotiations. Mark O’Donnell, Jennifer Meehan and Lizzie Prochazka of Savills represented Baker Botts.
DALLAS — Locally based firm M2G Ventures will undertake a 112,741-square-foot industrial redevelopment project in Dallas. The project will convert Commonwealth Center, a six-building light industrial park located between the East Brookhollow area and the Dallas Design District, into a flexible space that can support traditional users, as well as tenants with distillery, brewery or roastery needs. Capital improvements will include storefront upgrades, enhanced landscaping and public art installations. M2G Ventures will also rebrand the site as The Archetype.
FORT WORTH, TEXAS — Henry S. Miller Brokerage has negotiated the sale of a 21-acre commercial development site situated along Bonds Ranch Road on the north side of Fort Worth. The site is not currently zoned for a specific use. The buyer, Avondale Development, owns the 175-acre site behind the parcel that will eventually house a retail center. Bill Bledsoe of Henry S. Miller represented Avondale Development as well as the seller, Avod Holdings LLC, in the land deal.
HUNTSVILLE, TEXAS — Stafford Barrett has brokered the sale of Encore at Sam Houston, a 528-bed student housing property located near Sam Houston State University in Huntsville. The garden-style property offers four-bedroom units with bed-to-bath parity across 12 buildings. Shared amenities include a resort-style pool, 24-hour fitness center, private study lounges, a pet park and basketball and volleyball courts. Jeyton McNair and Greg Jasper of Stafford Barrett represented the undisclosed seller in the disposition.
HOUSTON — A joint venture between Austin-based RPM Living Investments and New York-based DRA Advisors has acquired San Paloma, a 372-unit apartment community in Houston’s Energy Corridor area. Developed by Sueba USA in 2006, San Paloma features one- and two-bedroom units with an average size of 1,050 square feet. The amenity package comprises a pool, fitness center, heated spa, playground, dog park, business center and outdoor lounge spaces. A partnership between Blackstone and Livcor sold the property for an undisclosed price. Amerant Bank provided acquisition financing for the deal.