LIVE OAK, TEXAS — Dick’s Sporting Goods has opened a 100,000-square-foot store under its “House of Sport” brand at Live Oak Town Center, a mixed-use development located on the northeastern outskirts of San Antonio. The store, which along with a 300,000-square-foot IKEA and a 79,681-square-foot Floor & Décor anchor the property, features a climbing wall, outdoor field, golf bays and a multi-sport cage. David Nicolson and Michael Schoenbrun of Weitzman internally represented the landlord in the lease negotiations.
HOUSTON — Locally based brokerage firm Baker Katz has negotiated seven new retail leases for Einstein Bros. Bagels in the greater Houston area. The spaces are located within the Tanglewood and Garden Oaks neighborhoods in Houston proper, as well as in the suburbs of Katy, Conroe, Humble, Tomball and League City. The average deal size is 2,000 square feet. Landlord representatives in the various lease negotiations included CBRE, Excel Commercial, NewQuest, Fidelis, Blue Ox Group and SVN | J. Beard Real Estate.
HOUSTON — Johnson Brothers of Texas Inc., a distributor of alcoholic beverages, has signed an 11,250-square-foot industrial lease in North Houston. According to LoopNet Inc., the building at 3340 Greens Road was built in 1997 and totals 126,968 square feet. Ryan Hartsell of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Jack Rathe and Natalie Gilbert of Stream Realty Partners, along with internal agent Kyle Whieldon, represented the landlord, Prologis.
DALLAS — Global development and investment firm Matthews has acquired a 2 million-square-foot distribution center located just south of downtown Dallas. The site at 1600 Roe St. spans 38.5 acres, and the facility formerly housed the distribution operations of Sears Roebuck and was later rebranded as Cedars Commerce Center. Most recently, LBA Logistics occupied the property. David Davidson Jr. and Jake Milner of Davidson Bogel Real Estate brokered the sale. The seller and sales price were not disclosed. Matthews did not disclose future plans for the property.
CEDAR HILL, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Midtown Cedar Hill, a 354-unit apartment community located on the southern outskirts of Dallas. Built on 13 acres in 2015, Midtown Cedar Hill is a three-story, garden-style building that offers one- and two-bedroom units with an average size of 894 square feet. Amenities include a pool, business center and picnic areas with barbecue grills. Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse of IPA represented the seller and procured the buyer in the transaction. Both parties requested anonymity. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged acquisition financing for the deal.
HOUSTON — Georgia-based developer Southeastern has broken ground on a 330-unit multifamily redevelopment project in the Montrose neighborhood of Houston. Artis Montrose will convert the site of the former “Disco Kroger” into a seven-story apartment building that will feature one- and two-bedroom units that will range in size from 549 to 1,607 square feet. Amenities will include a pool, leasing office, pet spa, outdoor workspaces, grilling stations, a clubroom, cyber lounge and a Zen garden. DCS Design is the project architect, and Arch-Con Corp. is the general contractor. The first units are expected to be available for occupancy in late 2027.
GRAND PRAIRIE, TEXAS — NAI Robert Lynn and Northmarq have brokered the sale of a portfolio of 16 small-bay industrial buildings totaling roughly 256,000 square feet in Grand Prairie, located roughly midway between Dallas and Fort Worth. The buildings are situated across three industrial parks at 2100 S. Great Southwest Parkway, 2601 Aero Drive and 605 E. Palace Parkway. Jeff Jackson of NAI Robert Lynn, alongside Northmarq’s David Annett and Joe Habighorst, represented the buyers, Florida-based Thematic Capital Group and Texas-based Dray Investments, in the deal. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Partners Capital, the investment platform of Partners Real Estate, has completed a partial renovation of Westcliff Shopping Center, a 134,750-square-foot grocery-anchored center in Fort Worth. The project revitalized a 22,000-square-foot portion of the retail center’s facade, restoring its original character while introducing modern updates. Originally built in 1955 on 10 acres, Westcliff Shopping Center is home to tenants such as Albertsons, Ace Hardware, HOTWORX, Dollar General and Café Bella.
Once upon a time, not so long ago, an industrial developer in Texas could pick an appropriately zoned spot on the map, throw up four walls and a roof, slap a few utilities in place and reasonably expect multiple tenants to quickly reach out and express a willingness to pay healthy rent for that space. That’s a colorful and simplified view of the pinnacle of the post-COVID Texas industrial market, but it’s not a farcical take. Between roughly early 2021 and mid-2023, phrases like “record-breaking,” “gangbusters” and “never seen anything like it,” were routinely used by brokers and owners alike to describe the state of industrial tenant demand. Combined with cheap debt and available equity, the ferocious need for warehouse, distribution and manufacturing space sparked absorption of older buildings and fresh capitalizations of new projects across all major markets. Tenants needed space yesterday, and supply chain disruptions — for developers and tenants — were simply a cost of doing business. And business was very, very good. Business is still good today. But the development landscape has undoubtedly shifted while the capital markets that govern said landscape have invariably cooled. New development, particularly in terms of equity, is significantly harder to …
FRISCO, TEXAS — Locally based developer JPI has completed Jefferson Railhead and Jefferson Parkhouse, two apartment communities totaling 903 units in Frisco, located north of Dallas. The projects represent the first and second multifamily phases of Frisco Railhead, a $3 billion mixed-use development. Jefferson Railhead offers studio-, one- and two-bedroom units that are now 60 percent occupied. Jefferson Parkhouse offers similar floor plans, as well as three-bedroom units, and is now 17 percent occupied. Amenities at both properties include pools with cabanas and sundecks, fitness centers and coworking lounges with private conference and whisper rooms. Frisco Railhead will ultimately comprise 1,300 multifamily units, a 17-story hotel with condominiums on the top two floors, 36,000 square feet of retail space, a 1.5 million-square-foot office campus and a 5-acre central park.