TOMBALL, TEXAS — Black Bear Diner will open a 5,250-square-foot restaurant at the intersection of State Highway 249 and the Grand Parkway in the northwestern Houston suburb of Tomball. Andrew Alvis represented the landlord, NewQuest Properties, in the lease negotiations on an internal basis. Matt Parsons of JLL represented the tenant. A tentative opening date was not disclosed.
ANNA, TEXAS — Texas-based investment firm HPI Real Estate has purchased an 840-unit self-storage facility in Anna, about 45 miles north of Dallas. Anna Self Storage was completed in 2023 and totals 103,000 net rentable square feet of climate-controlled space. Casey Wenzel, John Bauman and Luke Rogers of JLL arranged a five-year, floating-rate acquisition loan through Security National Bank on behalf of HPI Real Estate. Anna Self Storage was approximately 30 percent occupied at the time of the loan closing. Life Storage operates the property.
HOUSTON — Lone Star PACE has provided $31 million in C-PACE financing for The Thompson, a 172-room hotel located within The Allen mixed-use development near downtown Houston. The hotel includes 34 suites and multiple onsite food-and-beverage concepts. Locally based developer DC Partners owns The Allen. Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing. C-PACE (commercial property-assessed clean energy) financing allows commercial borrowers to obtain favorable loan terms in exchange for implementing eco-friendly devices and initiatives at their properties.
MAGNOLIA, TEXAS — Lowe’s Home Improvement will open a 94,000-square-foot store in the northwestern Houston suburb of Magnolia. The North Carolina-based retailer acquired 10 acres at the corner of FM 1488 and Spur 149 for the store, which will be part of a larger 60-acre retail development known as Magnolia Village. Gulf Coast Commercial is the master developer of Magnolia Village. Construction of the store is scheduled to begin later this year and to be complete in 2025. Parkside Capital sold the land to Lowe’s for an undisclosed price.
AUSTIN, TEXAS — Sherman & Roylance has brokered the sale of an eight-acre seniors housing development site in Austin. The City of Austin had previously approved the site for the development of a two-story, 98-unit assisted living and memory care facility, but the project faced construction delays and ultimately ended up in foreclosure in September 2023. The lender, Woodforest Bank, sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development.
IRVING, TEXAS — Bradford Commercial Real Estate Services has negotiated a 3,527-square-foot lease at Skyview Centre Building 1, an industrial flex property in Irving. According to LoopNet Inc., the building was constructed in 1982 and spans 40,600 square feet. Leigh Richter of Bradford represented the tenant, High Value Signs, in the lease negotiations. Samantha Seelig Dewan and Troy Alexander Dewan of Harkinson Dewan Management LLC represented the landlord.
ARLINGTON, TEXAS — Major League Baseball team the Texas Rangers and The Cordish Cos. have topped out One Rangers Way, a 300-unit apartment development in the Dallas suburb of Arlington. The community is the multifamily component of Cordish’s Arlington Entertainment District and is situated steps away from Globe Life Field, the home ballpark of the Rangers. One Rangers Way will offer a mix of studio, one- and two-bedroom apartments with rental rates starting at the $1,500s, as well as penthouses with rates starting in the $4,000s. Each apartment will feature high-end interior finishes and appliances, including in-unit washers and dryers, high ceilings and floor-to-ceiling windows. Each of the community’s 52 floor plans are named after Rangers players or significant events, including the team’s 2023 World Series title. “One Rangers Way will bring an upscale residential component to the Arlington Entertainment District, which has become one of the fastest-growing sports and entertainment destinations in the country,” says Ray Davis, managing partner and majority owner of the Rangers. “This project also reflects the tradition of the Rangers as many of the franchise’s legendary players are being incorporated into the branding of the building.” The property will feature 43,000 square feet of amenities, including an …
AUSTIN, TEXAS — Minneapolis-based developer Ryan Cos. has begun leasing Rivette Tower, a 345-unit apartment community located in Austin’s Mueller District. The project comprises two three- and five-story buildings with 2,500 square feet of retail space on the ground floor. Units feature one-, two- and three-bedroom floor plans, with 15 percent of the residences (about 50 units) reserved for renters earning up to 60 percent of the area median income. Amenities include a pool, rooftop deck, coworking space and outdoor gathering areas. Construction began in March 2022 and topped out in November 2023. Rents start at $1,900 per month for a one-bedroom apartment.
HOUSTON — Tigerhawk Logistics has signed a 328,048-square-foot industrial lease expansion at Portside Logistics Center, a 1 million-square-foot speculative development by Stream Realty Partners and Principal Asset Management that is located near Port Houston. After initially taking 135,285 square feet at Building 2 last winter, Tigerhawk is more than doubling its footprint at the property by taking space at Building 1. Grant Hortenstine and Pearce Martens of CBRE represented Tigerhawk in the lease negotiations. Tyler Maner and Jeremy Lumbreras of Stream represented ownership on an internal basis.
MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of a 553-unit self-storage facility in the eastern Dallas suburb of Mesquite that is operated under the Storage King USA brand. The facility spans 73,999 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a New York-based investment firm, in the transaction. Karr also procured the buyer, a REIT. Both parties requested anonymity.