Tuesday, July 22, 2025
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Tate+Toll-Frisco
DevelopmentOfficeTexas

Cawley Partners to Develop 600,000 SF Office Project in Frisco

by Taylor Williams

FRISCO, TEXAS — Dallas-based Cawley Partners will develop Tate + Toll, a 600,000-square-foot office project that will be located just off the Dallas North Tollway at Warren Parkway in Frisco. Designed by BOKA Powell, the development will consist of two 12-story buildings and will offer amenities including a fitness center, conference center, rooftop lounge and food service. Cawley Partners is currently searching for a tenant with a requirement of at least 100,000 square feet to anchor the property and guide design of the project. Once a tenant is secured, the developer expects to spend about seven months in the design phase and to have an 18-month construction period.

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AcquisitionsMultifamilyTexas

Worldwide Commercial Brokers Sale of 552-Unit Waterford Grove Apartments in Houston

by Taylor Williams

HOUSTON — Frisco-based Worldwide Commercial has brokered the sale of Waterford Grove, a 552-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1973 and offers two-and three-bedroom units. Amenities include a fitness center, leasing office, pool, a dog park and an after-hours childcare program. The names of the New Hampshire-based buyer and locally based seller were not disclosed.

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Waters-at-Westchase-Houston
AcquisitionsMultifamilyTexas

Elandis Acquires 260-Unit Waters at Westchase Apartments in Houston

by Taylor Williams

HOUSTON — Miami-based investment firm Elandis has acquired Waters at Westchase, a 260-unit apartment community in Houston. Built in 1979, the property features one- and two-bedroom units. Elandis acquired the property in a joint venture with London-based M&G Investments and multinational conglomerate Libra Group. The new ownership will implement a value-add program focused on the unit interiors, amenity spaces and common areas. The seller was not disclosed.

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Leasing ActivityOfficeTexas

Apollo Retail Specialists Signs 40,000 SF Office Lease Near DFW International Airport

by Taylor Williams

DALLAS — Apollo Retail Specialists has signed a 40,000-square-foot office lease at 1100 N. 28th Ave. in Dallas near Dallas-Fort Worth International Airport. David Creiner, Frank Puskarich and Louis Pascuzzi of Newmark represented the tenant in the lease negotiations. CBRE represented the landlord, LIT Finance III LLC. Apollo Retail Specialists is a Florida-based firm that specializes in fixture install, merchandising resets, store remodels and other services for retailers.

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Leasing ActivityNAIRetailTexas

NAI Partners Negotiates 12,946 SF Retail Lease in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — NAI Partners has negotiated a 12,946-square-foot retail lease at The Triangle Center, located at 2000 Mays St. N. in the northern Austin suburb of Round Rock. Joe DeCola of NAI Partners represented the undisclosed landlord in the lease negotiations. The tenant was Genuine Parts Co., a replacement automotive parts retailer headquartered in Atlanta.

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Market ReportsOfficeTexasTexas Market Reports

Despite Current Pain, Long-Term Needs for Office Space Won’t Disappear in Houston

by Taylor Williams

By Dustin Devine, vice president, Avison Young In 2020, COVID-19 further compounded the issues Houston’s office market was facing with depressed oil and gas prices. With many office users implementing work-from-home policies — although a shift back to the office is in progress — and minimal business travel, there was weak demand for office space in 2020. Houston’s office market is expecting a resurgence of sorts beginning in mid- to late-2021 due to increased vaccine rollouts and work-from-home burnout, along with commodity prices continuing to tick upward. Increased demand will not occur overnight, however,  as it will take years to absorb all of the current available space. Most activity at present is expiration-driven. Although Houston’s economy today is more diversified than it was in the 1980s, much of the city’s business either revolves around or touches the oil and gas industry. Avison Young’s recent Office Market Report shows that current citywide office availability is over 25 percent, with nearly 6.5 million square feet of sublease space available. With availability rates and the amount of sublease inventory at such high levels, it is clear that many industries are hurting, including commercial real estate. As a firm, we are doing whatever we …

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Texas-Tower-Houston
DevelopmentMultifamilyTexas

Hines, Ivanhoe Cambridge Top Out 47-Story Texas Tower in Downtown Houston

by Taylor Williams

HOUSTON — A partnership between two developers, Houston-based Hines and Montreal-based Ivanhoe Cambridge, has topped out Texas Tower, a 47-story office building located in downtown Houston. Designed by Pelli Clarke Pelli, the 1 million-square-foot building is currently 40 percent preleased to tenants such as Hines and law firms Vinson & Elkins LLP and DLA Piper. Amenities will include a fitness center, conference center, tenant lounge, lobby coworking area and rooftop gardens. Completion is slated for the fourth quarter.

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Cortland-Farmers-Market-Dallas
DevelopmentMultifamilyTexas

Cortland Opens $74M Apartment Community in Downtown Dallas

by Taylor Williams

DALLAS — Cortland, an Atlanta-based multifamily developer, has opened Cortland Farmers Market, a $74 million apartment community located at 1011 S. Harwood St. in downtown Dallas. Units come in one-, two- and three-bedroom floor plans. Amenities include on-demand fitness and wellness classes, a 24-hour fitness and yoga studio, private resident bar, resort-style rooftop pool and a dog park. Rents start at approximately $1,500 per month for a one-bedroom unit.

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The-Conley-Apartments-Leander
AcquisitionsMultifamilyTexas

Cushman & Wakefield Arranges Sale of 259-Unit Conley Apartments in Metro Austin

by Taylor Williams

LEANDER, TEXAS — Cushman & Wakefield has arranged the sale of The Conley, a 259-unit apartment community located in the northern Austin suburb of Leander. Completed in March 2020, the garden-style property offers floor plans that range from 521-square-foot studios to 1,598-square-foot three-bedroom units. Unit interiors feature stainless steel appliances, island kitchens with quartz countertops and private patios or yards. Communal amenities include a resort-style pool with private cabanas and barbecue grills, a resident lounge with a market pantry and coffee bar, dog park, 24-hour gym and a yoga room. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Stillwater Capital Investments LLC, in the transaction. Scott Wadler and Matthew Nihan of Berkadia arranged acquisition financing through CrossHarbor Capital Partners on behalf of the buyer, a partnership between Miami-based Constellation Group and Beacon Real Estate Group.

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AcquisitionsMultifamilyTexas

Canyon Partners Acquires $45M Preferred Equity Stake in Midtown Houston Multifamily Building

by Taylor Williams

HOUSTON — California-based Canyon Partners Real Estate has acquired a $45 million preferred equity stake in Drewery Place, a 357-unit multifamily building in the Midtown area of Houston. The property features studio, one- and two-bedroom units and amenities such as a resort-style pool with swim-up bar, fitness center, pet park, sky lounge and coworking spaces. Australian developer Caydon Property Group delivered the building, which includes 11,000 square feet of retail space, in 2019 as part of its Laneways mixed-use project.

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