FORT WORTH, TEXAS — Green Courte Partners, a Chicago-based real estate private equity firm, has acquired a 40-acre industrial outdoor storage site in Fort Worth. The parcel is located at 5301 Wilbarger St. on the city’s southeast side. Green Courte plans to operate the site as a managed truck storage facility. The land seller was a joint venture between Timber Hill Group and Champion Realty Advisors. The sales price was not disclosed.
FORT WORTH, TEXAS — Ambiance Textiles has signed a 14,775-square-foot lease renewal in Fort Worth. The 49,130-square-foot industrial flex building at 200 N. Vacek St. is located on the northwest fringe of the downtown area and was originally constructed in 1950, according to LoopNet Inc. David Cason and Jake Neal of Holt Lunsford Commercial represented the tenant in the lease negotiations. The landlord was not disclosed.
HOUSTON — Dallas-based multifamily developer Palladium USA will develop a $35 million affordable housing project in northeast Houston. Palladium Houston Ella will be a three-story, 146-unit building that will house one-, two- and three-bedroom units. About 78 percent (115) of the units will be reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium USA is developing the project in partnership with the Harris County Housing Finance Corp. HEDK Architects is designing the property, and Brownstone Construction is serving as the general contractor.
CONROE, TEXAS — Landmark Properties has broken ground on The Everstead at Conroe, a 190-unit build-to-rent residential project on the northern outskirts of Houston. The site spans 23.5 acres, and the community will offer a mix of 56 two-bedroom and 134 three-bedroom ranch homes and townhomes. Amenities will include a pool, dog park, playground, pickleball and bocce courts, 567 parking spaces and a 2,817-square-foot clubhouse with a fitness center. Landmark Properties is co-developing the project with Open House Group Co. Full completion is slated for late 2025.
HOUSTON — Locally based brokerage firm Finial Group has secured an 18,600-square-foot industrial lease renewal in Houston. The tenant was B&T Rentals, and the space is located within Four Seasons Business Park on the city’s northwest side. According to LoopNet Inc., the single-tenant building at 6826 Bourgeois Road was constructed in 2015. Jack Gaffney and John Buckley of Finial Group represented the undisclosed landlord in the lease negotiations.
IRVING, TEXAS — The Big 12 Conference has signed a 14,107-square-foot lease for its new office headquarters in Irving. The collegiate athletic league will relocate from 400 E. John W. Carpenter Freeway to the Williams Square complex this fall. Travis Boothe and Cynthia Cowen of Cushman & Wakefield represented the Big 12 in the lease negotiations. Bill Brokaw and Karch Schreiner of Hillwood Urban internally represented ownership, a partnership between Apollo Global Management, Vanderbilt Office Properties and Hillwood Urban.
CYPRESS, TEXAS — Children of America will open a 10,000-square-foot childcare and early education center at 20327 Longenbaugh Road in the northwestern Houston suburb of Cypress. Children of America Cypress Springs, which will be the organization’s third facility in the Houston area, will house 12 classrooms that can support about 175 students. The opening is slated for 2025.
InterFace Panel: Macroeconomic, Institutional Market Obstacles Hinder Retail Supply Growth in Austin
By Taylor Williams The Austin retail market is in dire need of more quality space, but between the newfound volatility in the U.S. capital markets and longstanding local policies that have hamstrung commercial developers in the state capital, delivering that space is no easy feat. The city’s remarkable growth story is well-documented. Big Tech has made Austin its home away from home, spearheading what was a 33 percent increase in population between 2010 and 2020, according to the Austin Chamber of Commerce. But the paces of growth of housing and infrastructure — two crucial prerequisites for retail development — haven’t kept up with the surging head count. In addition, the Austin bureaucracy is notorious for slow-moving entitlement and permitting processes, at least in the eyes of Texas developers who have done business in zone-free Houston or certain municipalities of Dallas-Fort Worth that make it a point to fast-track new projects. These issues at the local level have merged with debt market disruption on the national circuit, rendering a scenario in which the process of financing and building new retail space is fraught with headaches, delays and pitfalls. The number of ways in which new projects can be killed in action …
HOUSTON — Locally based developer McNair Interests has begun construction on a 371-unit multifamily project in Houston’s Timbergrove neighborhood. The five-story building at 3001 W. 11th St. will house one-, two- and three-bedroom units with an average size of 813 square feet. Amenities will include a pool, fitness center, outdoor grilling and dining stations, dog park and coworking space. Houston-based architecture firm Munoz & Albin designed the community, with Atlanta-based Preston Partnership serving as the architect of record. Dallas-based Ink+Oro handled interior design. Cadence McShane is the general contractor. The first units are expected to be available for occupancy in early 2025.
HOUSTON — Dallas-based brokerage firm Disney Investment Group (DIG) has arranged the sale of Presidio Square, a 189,338-square-foot shopping center in West Houston. An 82,466-square-foot H-E-B grocery store anchors the center. Other tenants include Family Thrift, AT&T, Subway, State Farm, Little Caesars, IHOP and Chase Bank. David Disney and Adam Crockett of DIG represented the seller, an affiliate of North American Development Group, in the transaction. The duo also procured the buyer, Houston-based Wu Properties. The sales price was not disclosed.