Wednesday, June 25, 2025
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Alex Hoenig Valuations Walker & Dunlop
Content PartnerFeaturesIndustrialMidwestMultifamilyNortheastOfficeSoutheastTexasWalker & DunlopWestern

Multifamily, Industrial, Office Transaction Activity Trends Upward Amid Shifting Valuation Landscape

by Sarah Daniels

The spike in interest rates nearly three years ago brought investment sales to a virtual standstill, as deep disagreements over valuation between buyers and sellers dominated the market. While recent Federal Reserve cuts to the federal funds rate raised hope for a resurgence in transactions, ongoing volatility in the bond market, concerns about reemerging inflation and uncertainty over fiscal and monetary policy continued to weigh on a full-blown rebound in investment activity. The uncertain environment makes it difficult for investors to easily evaluate commercial property values, underscoring the importance of access to comprehensive, real-time data on transactions, market fundamentals and emerging trends, says Alex Hoenig, MAI, Midwest regional managing director at Apprise, Walker & Dunlop’s independent valuation firm. “Our understanding of current values for commercial real estate relies on transactions actually taking place, and sales velocity has started to inch back up,” reports Hoenig. “But there’s no question that there has been a lot of volatility in the market, which requires a local expert with access to a strong network and a constant pulse on market comparables.” Walker & Dunlop launched Apprise in 2020 to accelerate technology-driven solutions in the commercial real estate sector. Apprise serves owners and investors nationwide, …

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AcquisitionsDevelopmentMultifamilyRetailTexas

AMLI Residential Buys Midway Square Shopping Center in Metro Dallas, Plans Conversion

by Taylor Williams

ADDISON, TEXAS — AMLI Residential has purchased Midway Square Shopping Center in the northern Dallas metro of Addison with plans to convert the property into a multifamily community. The center, which was originally constructed in the 1980s, is located within the 79-acre Midway South neighborhood and has struggled in the aftermath of the pandemic, according to the brokers who worked on the deal. The new apartment community will be known as AMLI Treehouse and will consist of 570 apartments, 30 luxury rental townhomes, 56 for-sale townhomes, 3.7 acres of green space and 12,500 square feet of standalone retail space. Demolitions will begin in the coming days. The first move-ins are expected to commence during the first half of 2026, with full completion slated for 2027. Ben McCutchin and Sam Kartalis of locally based brokerage firm Younger Partners represented the seller in the transaction and procured AMLI as the buyer.

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FIdelis-Willis
DevelopmentMultifamilyTexas

Cresset, Fidelis Break Ground on 252-Unit Multifamily Project in Willis, Texas

by Taylor Williams

WILLIS, TEXAS — A newly formed joint venture between Chicago-based Cresset Real Estate Partners and Houston-based Fidelis has broken ground on a 252-unit multifamily project in Willis, about 50 miles north of Houston. The nine-building development will be known as Fidelis Willis and will be located within the Moran Ranch master-planned community along the I-45 corridor. Fidelis Willis will consist of 120 one-bedroom units, 114 two-bedroom apartments and 18 three-bedroom residences. Amenities will include a pool, fitness center, clubhouse, game room and a dog park.  Construction is expected to be complete in the third quarter of 2026. 

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 112-Room Hotel in Northwest Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of the 112-room Courtyard by Marriott Houston NW/290 hotel. The hotel was completed in 2014 and offers amenities such as a pool, fitness center, 1,920 square feet of meeting and event space and an onsite restaurant. Skyler Cooper of Marcus & Millichap represented the seller, an entity doing business as Unity Lodging LLC, in the transaction. Cooper, along with Marcus & Millichap’s Allan Miller and Chris Gomes, also procured the undisclosed buyer. Pete Fehlman and Jake Marshall of Marcus & Millichap Capital Corp. arranged an undisclosed amount of acquisition financing through a local bank.

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IndustrialLeasing ActivityTexas

Avison Young Negotiates 27,200 SF Industrial Lease in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — Avison Young has negotiated a 27,200-square-foot industrial lease in Conroe, about 40 miles north of Houston. The tenant is Membrane Platforms, and the space is located within NorthStar Industrial Park, a five-building, 79-acre development. Drew Coupe and Dawson Smith of Avison Young represented the landlord, BAUER Group, in the lease negotiations. Ron Wickes of Walzel Properties represented the tenant.

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AcquisitionsRetailTexas

Cravey Real Estate Arranges Sale of 20,175 SF Retail Building in Corpus Christi

by Taylor Williams

CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Group has arranged the sale of a 20,175-square-foot retail building in Corpus Christi. The building at 2914 South Padre Island Drive was originally built in 1973 and was formerly occupied by Edwards Law Firm. Lynann Pinkham of Cravey represented the buyer and seller, both of which requested anonymity, in the transaction.

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DevelopmentMixed-UseTexas

Partnership to Develop $200M Water-Themed Mixed-Use Project in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — A partnership between the City of McKinney, located north of Dallas, and developer Cole Cannon will build a $200 million water-themed mixed-use project on a 35-acre site at the northeast corner of Stacy Road and State Highway 121. Known as Cannon Beach, the development will comprise a four-acre surf lagoon and resort-style hotel, as well as dining, entertainment and other commercial spaces. The hotel will feature a rooftop pool area that can support private events, as well as lounge areas and cabanas with food service and will connect to the surf lagoon and other water-focused attractions, including cliff diving and a stationary surf wave. The McKinney Economic Development Corp. and the McKinney Community Development Corp. are also partners on the project, conceptual terms of which are being finalized along with a site plan and agreements for infrastructure assistance, tax rebates and land acquisition. The first phase of Cannon Beach could open as early as 2026, and the development team estimates that the project could create as many as 700 new jobs and generate as much as $2 billion in regional economic impact over the next 20 years.

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DevelopmentHospitalityTexas

Pointe Vista, Hard Rock Unveil Plans for Hospitality Project in Kingston, Oklahoma

by Taylor Williams

KINGSTON, OKLA. — Pointe Vista Holding Co. and Hard Rock International have unveiled plans for Hard Rock Hotel & Residences Lake Texoma, a hospitality project that will be located near the Oklahoma-Texas border in Kingston. The development represents the first hospitality component within the 2,700-acre Pointe Vista master-planned community, which fronts Lake Texoma, and will have 189 hotel rooms (including 25 dedicated suites), an 18,000-square-foot conference center and an event lawn. The property’s residential component will entail 306 residences. Pointe Vista will ultimately comprise more than 2,000 lakefront homes, three destination resort hotels, an 11-acre Caribbean Bay, indoor waterpark, adventure park, family entertainment center and a waterfront town center.

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IndustrialLeasing ActivityTexas

Aaron’s Signs 170,509 SF Industrial Lease in Benbrook, Texas

by Taylor Williams

BENBROOK, TEXAS — Aaron’s has signed a 170,509-square-foot industrial lease in Benbrook, located southwest of Fort Worth. The home appliances, furniture and electronics retailer relocated and expanded from Grand Prairie to Building 2 of Chisholm 20, a four-building, 917,374-square-foot development. Steve Koldyke, Kacy Jones and Brian Gilcrest of CBRE represented the landlord, locally based developer Jackson-Shaw, in the lease negotiations. David Eseke and Andrew DeLamielleure with Cushman Wakefield represented Atlanta-based Aaron’s, which operates 144 stores in Texas.

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DevelopmentIndustrialTexas

Balcones Recycling to Open 134,905 SF Materials Recovery Facility in Frisco

by Taylor Williams

FRISCO, TEXAS — Balcones Recycling will open a 134,905-square-foot materials recovery facility in Frisco. Located on PGA Parkway between Dallas North Tollway and Preston Road, the facility will integrate modern recycling technology with employee wellness features and community engagement programs. Houston-based design-build firm KDW is handling the architectural and general contracting aspects of the project, construction of which began recently and is expected to be complete in spring 2026. Balcones Recycling first opened in the metroplex in 1995 with a facility in Farmers Branch.

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