PLANO, TEXAS — Horace Mann, a provider of insurance and financial advisory services for teachers and public servants, has signed a 50,033-square-foot office lease in Plano. Horace Mann will relocate from Addison and occupy the entire third floor of the building at 6275 W. Plano Parkway, which is located within the 300-acre International Business Park development. Ryan Buchanan and Josh White with CBRE represented the tenant in the lease negotiations. Trevor Franke and Gini Rounsaville of JLL represented the landlord, Billingsley Co.
AUSTIN, TEXAS — A partnership North Texas-based investment firm M2G Ventures and Austin-based Evergen Equity has purchased a 50,000-square-foot mixed-use property in South Austin. The facility at 211 E. Alpine Drive currently houses industrial, office and retail space. M2G plans to enhance the property’s landscaping, parking and painting, as well as to upgrade common areas, restrooms, interior and exterior lighting and storefronts. M2G will also introduce public art installations and rebrand the property as ALCO and has tapped CSA Realty Group is the leasing agent.
By William McDonough, vice president, Weitzman San Antonio’s retail market is reporting record-high occupancy as it continues its longest-ever streak of balanced supply and demand. With a new high of 95.2 percent, the Alamo City retail market has now posted healthy occupancy rates of 90 percent or higher for 14 years straight. The occupancy rate is based on Weitzman’s review of a total San Antonio retail inventory of approximately 49 million square feet of retail space in multi-tenant shopping centers with 25,000 square feet or more. Occupancy remains high due to stable tenant retention and strong demand for well-located vacancies. For example, shortly after Conn’s announced in mid-2024 that it planned to close its area stores, discount apparel retailer Burlington announced its plans to backfill three of the nine stores slated for closure. The market is also reporting an increase in new construction, but the deliveries overall have actually increased occupancy due to the fact that they are primarily for anchor stores and largely preleased shop space. Last year, the market did see new vacancies created due to the chain-wide failures of Conn’s, Big Lots, American Freight Furniture and 99 Cents Only. But in a tight market like San Antonio’s, …
KATY, TEXAS — Locally based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use development in the western Houston suburb of Katy. The site spans 165 acres and fronts both I-10 and the newly completed Texas Heritage Parkway. Plans currently call for approximately 750,000 square feet of retail, restaurant and entertainment space, as well as two apartment communities with about 550 total units and 300,000 square feet of medical office and self-storage space. Target has committed to being a retail anchor with a 149,000-square-foot store. A tentative completion date for the initial phase of construction was not announced.
HOUSTON — Locally based developer Triten Real Estate Partners will build a 392,650-square-foot industrial project in North Houston. The site at the intersection of FM 1960 and Kenswick Drive spans 25 acres, and the development will consist of two front-load buildings. The buildings will total 214,558 and 178,002 square feet and will feature 36-foot clear heights and combined parking for 286 cars and 82 trailers. Method Architecture is designing the project, and Harvey Cleary is the general contractor. Construction is scheduled to begin in the first quarter and to be complete before the end of the year.
PLANO, TEXAS — A partnership between 3650 Capital and Reap Capital has acquired The Calvin, a 167-unit apartment complex in Plano. The Calvin offers one- and two-bedroom units and amenities such as a pool and a dog park. Taylor Snoddy and Charles Hubbard of Northmarq brokered the deal, the seller of which was not disclosed. The new ownership plans to implement a value-add program.
HOUSTON — David Weekley Homes has purchased a 50,000-square-foot office building located at 8847 W. Sam Houston Parkway in northwest Houston. The locally based residential homebuilder plans to relocate from its current space at 1111 N. Post Oak Road to the new building, which according to LoopNet Inc. was constructed in 2011, before the end of the year. The seller and sales price were not disclosed.
HOUSTON — Agile Supply Chain has signed a 32,350-square-foot industrial lease in northwest Houston. The space is located at 7207 Wynnwood Lane in the Shady Acres neighborhood. Abraham Richardson and Grant Wisenbaker of Stream Realty represented the tenant in the lease negotiations. J.D. Diekman, Jon Michael and Ed Bane of Bridge Commercial represented the landlord.
HOUSTON — Investment & Development Ventures (IDV) has broken ground on Patriot Business Park, a 462,000-square-foot industrial project in North Houston. The site is located along Veterans Memorial Drive, and the development will comprise three front-load buildings with dock-high and drive-in ramps, as well as ESFR sprinkler systems. Completion is slated for the third quarter. Stream Realty Partners has been appointed as the leasing agent.
RICHARDSON, TEXAS — DVO Real Estate has purchased Sweetwater at Buckingham, a 312-unit apartment community in the northeastern Dallas suburb of Richardson. The property offers one-, two- and three-bedroom units with an average size of 889 square feet. Amenities include a pool, fitness center, business center and a playground. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, William Hubbard, Cameron Purse and Shelby Clark of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, REM Finance, in the transaction. The team also procured DVO as the buyer.