ADDISON, TEXAS — Lee & Associates has negotiated a 77,500-square-foot industrial lease in the northern Dallas metro of Addison. According to LoopNet Inc., the building at 4204 Lindbergh Drive was constructed in 1974. John Anderson of Lee & Associates represented the tenant, Charter Furniture, in the lease negotiations. The name and representative of the landlord were not disclosed.
SUGAR LAND, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Sugar Land Physicians Center, a 60,000-square-foot medical office building located southwest of Houston. The three-story building was completed in 2014, according to LoopNet Inc. Woodside purchased the asset in a joint venture with global investment manager Heitman. The seller and sales price were not disclosed.
HOUSTON — General contractor Benchmark Houston Builders has broken ground on a 30,000-square-foot office headquarters project within East River, Midway’s 150-acre mixed-use development. The project is a build-to-suit for the U.S. subsidiary of Australian firm Anton Paar USA, which provides laboratory instruments and measuring systems. Powers Brown Architecture is designing the space. Completion is slated for next summer.
RICHARDSON, TEXAS — San Diego-based investment firm MG Properties has purchased Ovation at Galatyn Park, a 361-unit apartment community in the northeastern Dallas suburb of Richardson. Designed by WDG Architecture, Ovation at Galatyn Park offers one-, two- and three-bedroom units that range in size from 500 to 1,700 square feet and are furnished with quartz countertops and various smart-home technologies. Amenities include a pool, fitness center, sky lounge, outdoor game room, arcade, billiards room and a podcast studio. Daniel Baker, Johnathan Makus, Kevin O’Boyle and Chandler Sims of CBRE represented the seller, a partnership between San Francisco-based Legacy Partners and Bridge Investment Group, which completed the project last spring, in the transaction.
ADDISON, TEXAS — Advanced Circuit Services has signed a 98,143-square-foot industrial lease in the northern Dallas metro of Addison. The manufacturer of circuit boards is expanding its footprint by nearly 50 percent within Building 3 at Marsh Business Park West, which features 20-foot clear heights and 14 dock doors. Rich Young of Rich Young Co. represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, GKI Industrial LLC.
SAN ANTONIO — EōS Fitness will open a 48,248-square-foot gym in northwest San Antonio. The Dallas-based operator will backfill a space formerly leased to Conn’s HomePlus at The Village at Summit shopping center. Rise Commercial Partners represented the tenant in the lease negotiations. CBRE represented the landlord, an entity doing business as Summit Income Partners LP. The opening is set for 2027.
THE WOODLANDS, TEXAS — Metro Philadelphia-based CenterSquare Investment Management has purchased Commons at Harper’s Preserve, a 21,777-square-foot retail strip center located north of Houston in The Woodlands. The center was 91 percent leased at the time of sale to tenants such as Five Guys, Jeremiah’s Italian Ice, Little Caesar’s, Dunkin’ and Next Level Urgent Care. The seller and sales price were not disclosed.
RICHARDSON, TEXAS — Lee & Associates has negotiated a 16,875-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 301-323 Hilltop Ave. was constructed in 1965. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. Trevor Atkins of CBRE represented the tenant, Starwood Distributors.
By Kenneth Katz, principal at Baker Katz Growth and innovation opportunities remain strong in Texas, despite ongoing changes in the retail sector. True potential often emerges not just from redeveloping individual buildings, but also from reimagining the future of entire communities. Identifying underutilized retail assets where others see stagnation — and meticulously transforming them into vibrant, value-generating destinations — is key to successful retail redevelopment projects. At its core, redevelopment is a response to change. When commercial properties are first built, they are typically developed to meet a market’s needs in terms of an appropriate tenant mix, functional layouts, attractive aesthetics and other key attributes. Over time, however, as communities evolve, populations shift, infrastructure expands and tenant preferences and tastes change, previously optimized projects can gradually underperform. These shifts create opportunities for thoughtful redevelopment. Identifying Strong Candidates Properties that no longer meet the desires or needs of a community are often the strongest candidates for redevelopment. These can include projects with outdated configurations, limited accessibility due to changes in roadways or high vacancy rates from tenant relocations or bankruptcies. Other high-potential properties may suffer from deferred maintenance that has reduced occupancy and rents or from aesthetic obsolescence that discourages both …
HOUSTON — Locally based developer Avera Cos. has broken ground on Baywood Logistics, a 374,297-square-foot industrial project in southeast Houston. Baywood Logistics will be a front-load building that will be situated on a 34-acre site south of the Houston Ship Channel. Building features will include 36-foot clear heights, 235-foot truck court depths, 62 dock-high doors, ample car and trailer parking space, 4,197 square feet of office space and an ESFR sprinkler system. Completion is slated for mid-2026. CBRE has been named the leasing agent.