ROUND ROCK, TEXAS — Minnesota-based Broadway Street Development has completed The Preserve at Mustang Creek, a 252-unit affordable housing project in the northern Austin suburb of Round Rock. Designed by Merriman Anderson Architects and built by Cadence McShane, the property offers one-, two-, three- and four-bedroom units that are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a pool, outdoor grilling and dining stations, a playground, fitness center, café kitchen and an activity room. The Texas Department of Housing and Community Affairs provided partial funding for the project. Construction began in fall 2023.
HOUSTON — Bank of America has signed a 70,914-square-foot office lease renewal at the 52-acre Greenway Plaza office complex in Houston. The banking giant will continue to occupy portions of the seventh and ninth floors at 20 Greenway Plaza, a 433,132-square-foot building. David Bale and Cody Little of JLL represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.
MIDLAND, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Everett at Ally Village, a 288-unit apartment complex in the West Texas city of Midland. Built in 2021, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, pet park, golf simulator and outdoor grilling and dining stations. Will Balthrope and Drew Garza of IPA brokered the deal. The buyer and seller were not disclosed.
HOUSTON — Largo Capital, a financial intermediary based in upstate New York, has arranged a $13.2 million loan for the refinancing of a 125-room hotel in Houston. The specific name and address of the hotel were not disclosed, but the property is operated under the Homewood Suites by Hilton brand. The undisclosed borrower will use a portion of the proceeds to fund capital improvements. Ben Blanton and Max Downing led the transaction for Largo Capital.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated the sale of a 50,903-square-foot industrial building in northwest Houston. According to LoopNet Inc., the building at 7400 W. Sam Houston Parkway N was built on 4.2 acres last year and features a 32-foot clear height. Jeffery Arnaud of Oxford Partners represented the buyer, Shahin Enterprises, in the transaction. Conrad Bernard of Boyd Commercial represented the undisclosed seller.
DALLAS — Insurance brokerage firm CRC Group has signed a 49,000-square-foot office lease at Lakeside Square in North Dallas. The move-in is underway, and the deal brings the complex to 85 percent occupied. Gini Rounsaville and Trevor Franke of JLL represented the landlord, Acram Group, in the lease negotiations, Conor McCarthy and Taylor Dickerson, also with JLL, along with Kyle Stanich of Lincoln Property Co., represented the tenant.
HOUSTON — JLL and Stream Realty Partners have co-brokered the sale of Kirkwood Tower, a 285,682-square-foot office building located in the Energy Corridor area of West Houston. The 16-story building, which was originally built in the early 1980s and renovated in 2015, was about 73 percent leased at the time of sale. Amenities include an executive penthouse, fitness center, sauna, wellness room, rooftop jogging track, a lobby bank, tenant lounge and a deli. Rick Goings and Jeff Hollinden of JLL represented the undisclosed seller in the transaction. The duo collaborated with Matthew Asvestas of Stream Realty Partners to represent the buyer, David Z. Mafrige Interests (DZMI). Stream has also been retained as the leasing agent.
HOUSTON — Local developer Read King will redevelop the former Macy’s store at Almeda Mall in South Houston. Plans currently call for backfilling 65,000 square feet on the first floor of the two-level space with a grocery user. According to the Houston Business Journal, Read King is also in negotiations with fitness and food-and-beverage users for potential occupancy of another 44,000 or so square feet on the second floor. The publication also reports that the remaining upstairs space would likely house utilities due to parking constraints associated with bringing in other users. Construction on the redevelopment is set to begin in the coming weeks.
CHINA GROVE, TEXAS — A partnership between Denver-based Quannah Partners and Trinity Investors will develop Grove Commerce Center, a 264,100-square-foot industrial project in China Grove, an eastern suburb of San Antonio. The 18.2-acre site is located directly across from H-E-B’s 850-acre regional campus, and the building will feature a front-load configuration, 32-foot clear heights, 185-foot truck court depths and 3,000 square feet of office space. Project partners include Powers Brown Architecture, Pape-Dawson Engineers and Partners Real Estate. Construction is set to begin in the coming days and to last about a year.
HOUSTON — Dallas-based brokerage firm STRIVE has negotiated the sale of Washington Plaza, a 44,950-square-foot retail and office complex in West Houston. Built in 2008, the property was 97 percent leased at the time of sale. Jake Dutson and Michael Hill of STRIVE represented the undisclosed seller — and original developer — of the property, in the transaction. The duo also procured the buyer, Dhanani Private Equity Group.