LAS VEGAS — Dallas-Fort Worth (DFW) has secured the top spot in the latest rankings of markets to watch in terms of overall real estate prospects in the Emerging Trends in Real Estate 2025 report, which is jointly produced every year by the Urban Land Institute (ULI) and accounting firm PwC. Austin ranked No. 15 on the list, marking the first time since 2010 that the state capital has fallen outside of the Top 10. Houston took the bronze medal at No.3, and San Antonio ranked 13th among the top markets to watch in 2025 (Miami was No. 2). The report cited impressive, sustained job and population growth in DFW that have not compromised affordability as the key factors behind the metroplex’s top ranking. Although the median single-family home price in DFW has increased by 38 percent since early 2020, the figure of $382,000 still puts the metroplex on par with national averages, according to the report. The report’s authors also expressed apprehension about unusual weather events in the area impacting real estate values and activity, but those concerns were overridden by exceptional demographics and economic diversity. Houston similarly saw its ranking rise due to jobs and people. The Houston …
ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers has completed a 430,000-square-foot facility in the northern Austin suburb of Round Rock. Known as SDC Austin, the two-building development is situated on a 40-acre site and has the capacity to produce up to 84 megawatts of power. The facility is designed to support liquid cooling and high-density computing environments with capabilities of up to 200 kilowatts per cabinet, and one such user, the Texas Advanced Computing Center, has already committed to the campus. The project was first announced in spring 2022.
NEW BRAUNFELS, TEXAS — AOG Living, the Houston-based developer and operator formerly known as Allied Orion Group, has begun leasing The Sophie, a 282-unit multifamily project in the northeastern San Antonio suburb of New Braunfels. The Sophie features one-, two- and three-bedroom units. The amenity package comprises a pool, fitness center, business center/cyber lounge, clubhouse with a gaming area, outdoor grilling stations, dog park, courtyard biergarten, sky lounge and package lockers. Rents start at $1,365 per month for a one-bedroom apartment.
HOUSTON — Dallas-based Holt Lunsford Commercial Investments (HLCI) will develop a 254,000-square-foot industrial project in northwest Houston. The site at 11010 Jones Road spans 23 acres. The development will comprise a 204,800-square-foot front-load building and a 50,000-square-foot rear-load building, as well as designated trailer parking space and five acres for outdoor storage. Construction is scheduled to begin in early 2025. A tentative completion date has not yet been announced.
GEORGETOWN, TEXAS — Marcus & Millichap has brokered the sale of Georgetown Mini Storage, a 144-unit self-storage facility located on the northern outskirts of Austin. The facility was built in 1983 and spans 26,400 net rentable square feet of non-climate-controlled space. Jon Danklefs and Douglas Diffie of Marcus & Millichap represented the undisclosed seller in the transaction. Danklefs also procured the buyer, New York-based Merit Hill Capital.
MANOR, TEXAS — Dallas-based advisory firm The Retail Connection, through its affiliate Connected Development Services, has broken ground on a 150,000-square-foot shopping center in metro Austin. Manor Crossing will be located on the state capital’s eastern outskirts within a 63-acre site at the northwest corner of U.S. Highway 290 and FM 973 that will also be home to a 101,000-square-foot H-E-B grocery store. The center will comprise four buildings on 18 acres. Tenants that have already committed to Manor Crossing include T.J. Maxx, Burlington, Planet Fitness, Five Below, Rack Room Shoes, Jersey Mike’s, James Avery, McAlister’s, Mattress Firm, Tropical Smoothie Café and Tomlinson’s Feed. Cuaso Design Studio and ICON Architecture are leading design of the project, and Flynn Construction is serving as the general contractor. Completion is slated for 2026.
DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Alto Highland Park, a 112-unit apartment complex in Dallas. Built in phases between 2001 and 2007, the property offers 57 brownstones with direct-access garages and 55 residences that connect to a subterranean garage. Units come in one-, two- and three-bedroom floor plans and have an average size of 1,888 square feet. Amenities include a pool, clubhouse and an outdoor lounge and grilling area. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, and Cameron Purse of IPA represented the seller, Origin Investments, in the transaction. The team also procured the buyer, Silverado Interests.
GARLAND, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 7.5-acre industrial outdoor storage (IOS) site in Garland, a northeastern suburb of Dallas. The property at 2660 Market St. houses an 87,780-square-foot building that was originally constructed in 1991 and features eight dock-high doors and four grade-level doors. Alexander Harrold of Matthews represented the buyer, Alterra IOS, in the transaction. The name and representative of the seller, as well as the sales price, were not disclosed.
NEW BRAUNFELS, TEXAS — Topgolf will open a 35,000-square-foot venue in New Braunfels, a northeastern suburb of San Antonio. The two-story facility will be located within the 400-acre New Braunfels Town Center at Creekside master-planned development and will feature 62 climate-controlled hitting bays in addition to a full bar and restaurant. Construction is underway, and completion is scheduled for late 2025. The Dallas-based sports entertainment company, which currently operates more than 100 venues around the world, expects to hire about 200 people to staff the new facility.
LUBBOCK, TEXAS — An affiliate of Houston-based development and investment firm Vista Cos. has acquired The Plazas on Ninth Street, a 21,000-square-foot retail strip center located in the West Texas city of Lubbock. The center is located across from the Texas Tech University campus and was fully leased at the time of sale to tenants such as Torchy’s Tacos and Barefoot Athletics. Chris Gainey of Marcus & Millichap represented Vista Cos. in the transaction. JLL arranged an undisclosed amount of acquisition financing through StanCorp Financial Group for the deal. The seller was not disclosed.