Texas

Younger Partners Arranges Sale of 42-Acre Retail Development Site in Lucas, Texas

by Taylor Williams April 18, 2025

LUCAS, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 42-acre retail development site in Lucas, roughly 30 miles northeast of Dallas. The buyer, an affiliate of Dallas-based Malouf Interests, plans to develop a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park on the site. Michael Ytem and Tom Grunnah of Younger Partners represented both the buyer and the seller, JCBR Holdings, in the transaction. Construction is slated to begin in the fourth quarter, with completion anticipated for 2026.

April 18, 2025

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of Self-Storage Facility in Carrollton, Texas

by Taylor Williams April 18, 2025

CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of a self-storage facility in the northern Dallas metro of Carrollton. Extra Space Storage operates the facility, which was built in 1996 and expanded in 2001. The facility totals 114,236 net rentable square feet of space across 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were locally based entities that requested anonymity, in the transaction.

April 18, 2025

Industrial Leasing Activity Texas

Stream Realty Negotiates 68,342 SF Industrial Lease in Missouri City, Texas

by Taylor Williams April 18, 2025

MISSOURI CITY, TEXAS — Stream Realty Partners has negotiated a 68,342-square-foot industrial lease in Missouri City, a southwestern suburb of Houston. According to LoopNet Inc., the building at 411 Cravens Road was built in 2020 and totals 290,373 square feet. Jeremy Lumbreras and Woody Hillyer of Stream represented the landlord, a partnership between New York-based Clarion Partners and 4M Investments, in the lease negotiations. Hunter Johnston of Bridge Commercial Real Estate represented the tenant, Jelly Comb Corp., a provider of computer keyboards and other office communications devices.

April 18, 2025

Industrial Leasing Activity Texas

Hanwha Power Systems Americas Signs 27,500 SF Industrial Lease in Northwest Houston

by Taylor Williams April 18, 2025

HOUSTON — Hanwha Power Systems Americas, which serves the oil and gas industry, has signed a 27,500-square-foot industrial lease in northwest Houston. The space is located at 8810 Wendigo Place. Ryan Hartsell and Austen Buckalew of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Travis Land and Braedon Emde of Partners Real Estate represented the landlord, United Equities.

April 18, 2025

Acquisitions Florida Indiana North Carolina Student Housing Texas Top Stories

Newmark Brokers Sale of 3,693-Bed Student Housing Portfolio Across Four States

by Hayden Spiess April 17, 2025

NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units. A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus. Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms. The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …

April 17, 2025

Acquisitions Office Texas

JLL Brokers Sale of West Houston Office Portfolio Totaling 570,045 SF

by Taylor Williams April 17, 2025

HOUSTON — JLL has brokered the sale of Ashford 5, a portfolio of three office buildings totaling 570,045 square feet in West Houston. The eight-story buildings are situated on a 12.2-acre site adjacent to I-10 in the Energy Corridor area. Renovated between 2014 and 2016, the portfolio offers amenities such as a fitness center, tenant lounges and separate parking garages for each building. Marty Hogan, Kevin McConn, Rick Goings, John Ream and Clay Anderson of JLL represented the seller, a court-appointed receiver, in the transaction. The team also assisted the buyer, an entity doing business as LFFP Ashford Portfolio, in the assumption and modification of the seller’s in-place loan. At the time of sale, the portfolio had an occupancy rate of 58 percent and a tenant roster with a weighted average remaining lease term (WALT) of 4.7 years.

April 17, 2025

Development Multifamily Texas

Pelican Builders Breaks Ground on 380-Unit Multifamily Project in Metro Houston

by Taylor Williams April 17, 2025

PEARLAND, TEXAS — Houston-based developer Pelican Builders has broken ground on a 380-unit multifamily project within Pearland Town Center on the southern outskirts of Houston. Pelican Builders purchased the site at 3200 Business Center Drive from Tennessee-based REIT CBL Properties, the master developer of Pearland Town Center, about two years ago. Units at the yet-to-be named apartment community will come in one- and two-bedroom floor plans and will range in size from 604 to 1,196 square feet. Amenities will include a pool, dog park, children’s play area, fitness center, business center and access to walking trails. Meeks + Partners is the project architect, and OHT Partners is the general contractor. Construction is slated for a second-quarter 2026 completion.

April 17, 2025

Loans Mixed-Use Texas

EMBREY Refinances 340,814 SF Mixed-Use Property in San Antonio

by Taylor Williams April 17, 2025

SAN ANTONIO — Locally based investment and development firm EMBREY has refinanced 7600 Broadway, a 340,814-square-foot mixed-use property in San Antonio’s Alamo Heights neighborhood. Completed in 2023, 7600 Broadway consists of 287,605 square feet of residential space across 216 units and 53,209 square feet of office space. The residential component, which features one-, two- and three-bedroom units, as well as a pool, fitness center and demonstration kitchen, was 96 percent occupied at the time of the loan closing. The office space is fully leased to EMBREY and Morgan Stanley. Robert Wooten, Jackson Finch and Meredith Sheeder of JLL arranged the refinancing, the amount of which was not disclosed, through Blackstone Mortgage Trust (NYSE: BXMT) on behalf of EMBREY.

April 17, 2025

Industrial Leasing Activity Texas

Cotton Commercial USA Signs 124,000 SF Industrial Lease in Brookshire, Texas

by Taylor Williams April 17, 2025

BROOKSHIRE, TEXAS — Cotton Commercial USA, a division of Houston-based Cotton Holdings Inc. that provides home restoration and similar services, has signed a 124,000-square-foot industrial lease in Brookshire, a western suburb of Houston. The space is located within Empire West Business Park, a 2.3 million-square-foot development. Jeremy Lumbreras, Matteson Hamilton and Justin Robinson of Stream Realty Partners internally represented the landlord in the lease negotiations. David Buescher and Jeff Cairns of JLL represented the tenant.

April 17, 2025

Acquisitions Industrial Texas

Triten Real Estate Acquires 4.5-Acre Industrial Outdoor Storage Facility in Selma, Texas

by Taylor Williams April 17, 2025

SELMA, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased a 4.5-acre industrial outdoor storage (IOS) facility in Selma, a northeastern suburb of San Antonio. The IOS facility at 16915 Alamo Parkway houses a 6,556-square-foot warehouse and office building with five dock doors. The seller and sales price were not disclosed.

April 17, 2025

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