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Valley-Ranch-Convention-Center-New-Caney
CivicDevelopmentTexas

EMCID Begins Vertical Construction of 210,000 SF Convention Center at Valley Ranch in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — The East Montgomery County Improvement District (EMCID) has begun vertical construction of a 210,000-square-foot convention center within the Valley Ranch master-planned development in New Caney, a northeastern suburb of Houston. The facility will feature a 55,000-square-foot ballroom/exhibit hall, nearly 20,000 square feet of meeting space and approximately 25,000 square feet of pre-function and lobby space and outdoor courtyards. Plans also call for an attached 813-space parking garage and connection to a full-service hotel. Completion is slated for fall 2026. Signorelli Co. is the master developer of Valley Ranch.

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IndustrialLeasing ActivityTexas

David Sutherland Inc. Signs 187,013 SF Industrial Lease Renewal in Northwest Dallas

by Taylor Williams

DALLAS — David Sutherland Inc. has signed a 187,013-square-foot industrial lease renewal in northwest Dallas. The provider of outdoor furniture and textiles will remain a tenant at the building at 140 Regal Row, which serves as its regional distribution hub. Chase Miller of NAI Robert Lynn represented the tenant in the lease negotiations. Chicago-based investment firm ML Realty Partners owns the property.

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AcquisitionsIndustrialTexas

Apricus Acquires 9.2-Acre Industrial Outdoor Storage Facility in Channelview, Texas

by Taylor Williams

CHANNELVIEW, TEXAS — Apricus Realty Capital has acquired a 9.2-acre industrial outdoor storage (IOS) facility in Channelview, an eastern suburb of Houston. The facility at 403 W. Brentwood St. was fully leased at the time of sale to GFL Plant Services LP, which supports the petrochemicals industry. Apricus acquired the property in partnership with ABR Capital Partners. The seller and sales price were not disclosed.

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AcquisitionsIndustrialTexas

Triten Real Estate Buys 140,181 SF Industrial Building in Northwest Houston

by Taylor Williams

HOUSTON — Locally based development and investment firm Triten Real Estate Partners has purchased a 140,181-square-foot industrial property in northwest Houston. According to LoopNet Inc., the building at 1811 Brittmoore Road, which was fully leased at the time of sale, was built in 2008 within a larger, master-planned business park. Stephen Bailey and Dom Espinosa of Newmark represented the undisclosed seller in the transaction.

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DevelopmentHospitalityTexas

Extended Stay America Opens 124-Room Hotel in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — Extended Stay America has opened a 124-room hotel in Kyle, located roughly midway between Austin and San Antonio. Extended Stay will operate the hotel under its Premier Suites brand. Houston-based Provident Realty Advisors developed the four-story hotel, which offers complimentary breakfast, onsite guest laundry services, a 24-hour fitness room and additional vending options in the lobby.

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DevelopmentIndustrialLife SciencesTexasTop Stories

Eli Lilly to Build $6.5B Pharmaceutical Manufacturing Facility at Generation Park in Houston, Create 600 Jobs

by Kristin Harlow

HOUSTON — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to build a new $6.5 billion manufacturing facility at Generation Park, a 4,000-acre master-planned development in northeast Houston that is owned by McCord Development. The active pharmaceutical product (API) facility, which represents the second of four new U.S. sites that Lilly plans to announce this year, will be used to manufacture the company’s pipeline of small molecule medicines across therapeutic areas, including cardiometabolic health, oncology, immunology and neuroscience. The project is expected to be operational within five years. Lilly plans to bring 615 new, high-wage jobs to the greater Houston area, including engineers, scientists, operations personnel and lab technicians. The company also expects to generate 4,000 construction jobs as the project is built. The facility will be among those that will manufacture orforglipron, Lilly’s first oral, small molecule GLP-1 receptor agonist, which the company expects to submit to global regulatory agencies for obesity by the end of this year. “Our new Houston site will enhance Lilly’s ability to manufacture orforglipron at scale and, if approved, help fulfill the medicine’s potential as a metabolic health treatment for tens of millions of people worldwide who prefer the ease of a pill …

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LoansRetailTexas

BWE Arranges $36M Loan for Refinancing of Shopping Center in Terrell, Texas

by Taylor Williams

TERRELL, TEXAS — Cleveland-based financial intermediary BWE has arranged a $36 million loan for the refinancing of Crossroads at Terrell, a 260,877-square-foot shopping center located east of Dallas. Built between 2022 and 2024 within a larger mixed-use development, the center is home to tenants such as Hobby Lobby, Academy Sports + Outdoors, Marshalls, Burke’s Outlet and Petco. Matt Good of BWE arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.

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1825-Midway-Road-Lewisville
IndustrialLeasing ActivityTexas

Toyota Motor Sales Signs 121,188 SF Industrial Lease Renewal in Lewisville, Texas

by Taylor Williams

LEWISVILLE, TEXAS — Toyota Motor Sales USA Inc. has signed a 121,188-square-foot industrial lease renewal in Lewisville, a northern suburb of Dallas. The company will remain a tenant at the building at 1825 Midway Road, which according to LoopNet Inc. was completed in 2018. Melissa Holland of JLL represented the tenant in the lease negotiations. Chicago-based investment firm ML Realty Partners owns the property.

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CivicDevelopmentTexas

Steele & Freeman Completes 77,000 SF Civic Project in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — General contractor Steele & Freeman has completed a 77,000-square-foot civic project in Midlothian, a southern suburb of Dallas. Designed by Hoefer Welker, the new facility at 1111 George W. Raffield Jr. Way houses the operations of the city’s police and fire departments, as well as the municipal court. Voters approved the new facility via a 2021 bond election.

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Industry-SOMA-Austin
Affordable HousingDevelopmentMultifamilyTexas

Industry ATX Delivers 23-Unit Affordable Housing Project in Austin

by Taylor Williams

AUSTIN, TEXAS — Locally based developer Industry ATX has delivered Industry SOMA, a 23-unit affordable housing project in Austin’s South Menchaca neighborhood. The townhome-style residences are housed and are reserved for households earning 80 percent or less of the area median income. Units have an average size of about 1,100 square feet. Mark Odom Studio designed the project, construction of which began in fall 2022.

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