HOUSTON — JLL has brokered the sale of Timberway One, a 93,578-square-foot office building located in the Energy Corridor area of West Houston. The three-story building was 92 percent leased at the time of sale to tenants elevator manufacturer thyssenkrupp, 2H Offshore and Medical Care Center. Marty Hogan led the JLL team that represented the seller, Miami-based Banyan Street Capital, in the transaction. The buyer was locally based investment firm LM & Associates.
MIDLOTHIAN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Shops on 663, a 14,812-square-foot retail strip center in Midlothian, a southern suburb of Dallas. The name stems from the site’s location on FM 663, and the fully leased center is home to tenants such as Sport Clips and Anytime Fitness. Jack Hicks and Hudson Lambert of STRIVE represented the seller, an Austin-based developer, in the transaction and procured the buyer, a California-based investor. Both parties requested anonymity.
MCKINNEY, TEXAS — Globe Life has agreed to purchase a new office building in McKinney, located north of Dallas, for the relocation of its corporate headquarters. The insurance giant will relocate from the Stonebridge Ranch master-planned development to the 200,000-square-foot building at 7677 Henneman Way, which Globe Life purchased along with two undeveloped adjacent tracts totaling 9.3 acres for future expansion. Southstate Bank sold the building, which was previously housed the headquarters of Independent Bank prior to that institution being acquired by Southstate. Campbell Puckett, Ryan Hoopes, Bill McClung, Tucker Hume, Zach Bean and Chris Taylor of Cushman & Wakefield represented both Globe Life and Southstate Bank in the transaction.
NORTHLAKE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Livano Canyon Falls, a 300-unit apartment community located north of Fort Worth in Northlake. Livano Canyon Falls is a three-story, garden-style complex that offers one-, two- and three-bedroom units with an average size of 1,015 square feet. Amenities include a pool, private workspaces and fishing ponds. Drew Kile, Michael Ware, Joey Tumminello, Taylor Hill and Shelby Clark of IPA represented the undisclosed seller in the transaction and procured the buyer, an affiliate of Harbor Group International. Brian Eisendrath, Cameron Chalfant, Harry Krieger and Tyler Johnson of IPA Capital Markets arranged an undisclosed amount of acquisition financing for the deal.
HOUSTON — Cushman & Wakefield has arranged an undisclosed amount of financing for a portfolio of three healthcare assets totaling 110,636 square feet in the Houston area. The portfolio comprises medical office buildings that were built between 2015 and 2017 and were fully leased to regional provider Memorial Hermann Health System at the time of the loan closing. Buildings range in size from 30,523 to 47,859 square feet and are located in League City, Spring and Katy. The financing represents a senior loan provided by a syndicate of lenders that includes Siemens and First Horizon Bank. Tyler Morss and Gideon Gil of Cushman & Wakefield arranged the financing on behalf of the owner, a partnership between Big Sky Medical and GFH Partners.
FORT WORTH, TEXAS — Worth Commercial Real Estate has purchased Magnolia Centre, a 31,000-square-foot historic office building located in Fort Worth’s Near Southside District. According to LoopNet Inc., the six-story building was originally constructed in 1926 and renovated in 1990. Worth Commercial plans to occupy space on the building’s fourth floor for its new headquarters and to lease the remainder. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 29,571-square-foot office lease renewal in Fort Worth. The space is located within Overton Centre, a two-building, 417,465-square-foot development on the city’s southwest side. Jake Neal and Matt Carthey of Holt Lunsford represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP, in the lease negotiations. Jim Smith of Cushman & Wakefield represented the tenant, HCA Information Technology & Services.
PLANO, TEXAS — Dallas-based Centennial has unveiled new and revised redevelopment plans for The Shops at Willow Bend, a 1.4 million-square-foot regional mall in Plano, to include townhomes-style attached residences and detached single-family homes. Centennial, which initially acquired the property in 2022 in partnership with Cawley Partners, had previously unveiled plans to convert the enclosed center to a mixed-use property called The Bend. Centennial’s late-2024 acquisition of the Macy’s building at the center — following the retailer’s announcement that the store would be closing — has enabled the inclusion of additional uses, according to the company. Under the plans, a portion of the enclosed mall’s footprint will be demolished to make room for multifamily housing options, a hotel, neighborhood dog park and green spaces for community activities. The Bend will also continue to offer residents and visitors a mix of retail, dining, fitness, and entertainment options. The Plano City Council must still approve the project, although the Plano Planning & Zoning Committee has already signed off on the updated plans. Construction is expected to begin later this year pending city council approval.
FARMERS BRANCH AND DALLAS — Locally based financial intermediary ARZ Realty Capital has arranged the refinancing of two office buildings totaling roughly 400,000 square feet in the northern Dallas metro area. The Meridian is a 10-story, 227,000-square-foot building located along the LBJ Freeway in Farmers Branch. The other building is located at 12005 Ford Road in northwest Dallas and is known as NorthPointe Center. Ari Raskas of ARZ Realty Capital arranged the refinancings through two separate lenders on behalf of the buildings’ owner, Maitland Management.
COLLEGE STATION, TEXAS — An investor doing business as 950 TL Midtown LLC has purchased an apartment complex located about seven miles from the Texas A&M University campus in College Station for $40.8 million. The number of units at Nine50 Town Lake at Midtown was not disclosed, but the property’s residences come in one-, two- and three-bedroom floor plans and range in size from 527 to 1,371 square feet. Amenities include a pool, outdoor grilling kitchen, fitness center, business center, dog park, Wi-Fi café and a game lounge with shuffleboard and a billiards table. The seller was also not disclosed.