Texas

SOMERVILLE, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 12,397-square-foot industrial lease in Somerville, about 90 miles northwest of The Bayou City. The building at 9690 FM 50 sits on 4.7 acres and features 28 loading positions. Jack Gaffney and Kevin Coleman of Finial Group represented the tenant, Dana Safety Supply, in the lease negotiations. Jon Dandurand of Burr & Temkin represented the undisclosed landlord.

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TERRELL, TEXAS — Dollar Tree has renewed an 8,000-square-foot retail lease in the eastern Dallas suburb of Terrell. The discount retailer has been a tenant at the 23,050-square-foot Terrell Corners Shopping Center since 2008. Other tenants at the center include WingStop, Anytime Fitness, Sally Beauty Supply and Cato Fashions. Paul Richter and Tammy Salas of Bradford Commercial Real Estate Services represented the landlord, Welsh Irrevocable Trust, in the lease negotiations. The tenant representative was not disclosed.

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HOUSTON — Locally based brokerage firm Davis Commercial has arranged the sale of a 4,500-square-foot office building in northwest Houston. According to LoopNet Inc., the single-tenant building at 11704 Cypress N. Houston Road was constructed in 1976. Cotton Munson of Davis Commercial represented the sellers, a pair of private investors, in the transaction. Dave Jensen represented the buyer, Gracelli Studios, which will occupy the building as a production studio for its social media content. 

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Montrose-Collective-Houston

HOUSTON — JLL has arranged a loan of an undisclosed amount for the refinancing of Montrose Collective, a shopping and dining destination in Houston’s Midtown neighborhood. Montrose Collective opened in 2022 and was 98 percent leased at the time of the loan closing to restaurants such as Marmo and Uchi, as well as tenants such as Live Nation and Reformation Brewery. Prime Finance provided the loan to the borrower, a partnership between Radom Capital and institutional investors advised by J.P. Morgan Global Alternatives. Colby Mueck, Michael Johnson and Jack Britton led the JLL team that placed the loan, which retires the original construction loan that JLL arranged for the development in 2020.

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PLANO, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 65-unit seniors housing facility in Plano. The unnamed property was built in the 1990s and offers assisted living and memory care services. The seller was a national development and investment firm, and the buyer was a regional seniors housing owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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NORMAN, OKLA. — Indianapolis-based developer Bremner Real Estate has broken ground on the Oklahoma University Health Stephenson Cancer Center at Norman Regional, 48,000-square-foot healthcare project that will be located just south of Oklahoma City. The facility, which will serve patients from Norman Regional Health System and OU Health, will feature an underground tunnel connection to the main hospital, 24 infusion bays, exam rooms and physician office spaces. Completion is slated for 2025.

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FRISCO, TEXAS — Ruiz Foods, a provider of frozen Mexican foods, has opened a new 25,000-square-foot headquarters space at HALL Park in Frisco, according to reports from local media sources. According to Star Local Media, the company is in the process of relocating some employees from its existing headquarters facility in Dinuba, Calif., in addition to hiring some local workers. Ruiz Foods eventually plans to employ about 125 people at the new facility, the local paper reports.

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HOUSTON — Affiliated Engineers Inc. has signed a 6,945-square-foot office lease at the Greenway Plaza office complex in West Houston. The space is located within 20 East Greenway Plaza, a 433,132-square-foot building. Ray Lopez of Colliers represented the tenant in the lease negotiations. Marilyn Guion and Steve Rocher of CBRE represented the landlord, an entity doing business as Twenty Greenway Plaza.

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700-River-Austin

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has topped out 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building will house 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River will feature more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. The first move-ins will begin this fall. Construction began in fall 2022.

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SAN ANTONIO — Partners Real Estate has arranged the sale of a five-acre industrial development site in San Antonio. The site is located along FM 2252 near the intersection of Marbach Lane on the city’s northeastern side. Carlos Marquez and Gustavo Torres of Partners represented the seller, Escamilla Rosa Children’s Trust, in the transaction. Samantha Flores of Accelerated Commercial Real Estate represented the undisclosed buyer.

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