BURLESON, TEXAS — A partnership between Provident Realty Advisors and Trez Capital has acquired 22 acres in Burleson, a southern suburb of Fort Worth, for the development of a 196-site RV park. The development will be known as Roaming Trails RV Retreat (RTRV) Burleson and will offer multi-vehicle parking at every pad, back-in and pull-through spots, private fenced yards and weatherproof covers. Communal amenities will include a pool, package lockers and a dog park. Construction is scheduled to begin before the end of the year.
DALLAS — AMLI Residential has signed a 13,214-square-foot office lease renewal and expansion at Liberty Plaza, a two-building, 218,934-square-foot office complex in North Dallas. Tyler Howarth and Caroline Hix of Holt Lunsford Commercial represented the landlord, Franklin Street Properties, in the lease negotiations. The representative of the tenant was not disclosed.
HOUSTON, MONT BELVIEU AND RICHMOND, TEXAS — Littwitz Investments has arranged three restaurant leases totaling 8,733 square feet in the Houston area. Blue Tuba Euro-Tex Cuisine has signed a 5,141-square-foot lease at the Harold’s Heights retail building in Houston. Additionally, Beaky’s Hot Chicken will open a 2,436-square-foot restaurant in the eastern suburb of Mont Belvieu. Lastly, Cinnaholic Gourmet Cinnamon Rolls will occupy 1,156 square feet at Waterview Town Center in Richmond. David Littwitz of Littwitz Investments represented the tenants in the lease negotiations.
THE WOODLANDS, TEXAS — Howard Hughes Holdings Inc. (NYSE: HHH) has partnered with The Ritz-Carlton Hotel Co. LLC to develop The Ritz-Carlton Residences, The Woodlands, a high-rise condominium building on Lake Woodlands, 27 miles north of downtown Houston. The project will include a collection of residences for sale, as well as an onsite restaurant and amenities. The Ritz-Carlton Residences will be located within The Woodlands, a master-planned community. Howard Hughes developed the community through its HHCares program, which supports philanthropic efforts within the company’s Texas properties. The Woodlands was built in 1974, according to the property website. The community comprises 28,500 acres, including nine residential villages, 151 parks, 220 miles of hiking and bike trails, 2,460 businesses and nearly 8,000 acres of green space. The Woodlands is currently home to 120,000 people, and nearly 67,000 people work in the community. The Ritz-Carlton Residences, The Woodlands will be the first Ritz-Carlton standalone residences in Texas. The Woodlands Land Development Co., a subsidiary of Howard Hughes, will develop the project. Robert A.M. Stern Architects will handle design. According to Howard Hughes, The Ritz-Carlton Residences brand was chosen for its loyal following in the worlds of hospitality and branded private residences. — Channing …
DALLAS — A joint venture between Conor Commercial Real Estate, Globe Corp. and Origin Investments will develop The Flynn at Live Oak, a 327-unit multifamily project in Dallas. The five-story building will feature studio, one- and two-bedroom floor plans and amenities such as a pool, coworking spaces, a mini-mart, two courtyards and a dog park. The first apartments are slated for a spring 2025 delivery. JLL arranged construction financing for the project through Wintrust Bank. Merriman Anderson Architects designed the project, and Cadence McShane Construction is serving as the general contractor. Greystar will manage the property.
SAN ANTONIO — A joint venture between Virginia-based Capital Square and Japanese investment firm ITOCHU Corp. has purchased Creekside Terrace, a 100-unit build-to-rent project that is under construction in San Antonio. National homebuilder Pulte Homes is developing the project, which will offer three- and four-bedroom homes and amenities such as a pool, pavilion and park that connects to nearby shopping and dining outlets. The first units are expected to be available for occupancy in November, and full completion of the property is slated for next fall.
CONROE, TEXAS — Colliers has brokered the sale of a 43,200-square-foot, single-tenant industrial building in Conroe, about 40 miles north of Houston. The site spans 9.9 acres and offers immediate access to I-45. Michelle Soderberg of Colliers represented the seller, an entity doing business as JMBG Inc., in the transaction. Wade Nelson of Nelson Properties represented the buyer, Spring Glass & Mirror Ltd., which will also use the building as its new headquarters. The sales price was not disclosed.
LEWISVILLE, TEXAS — Planet Fitness will open a 20,105-square-foot gym at Vista Ridge Plaza in Lewisville, a northern suburb of Dallas. The opening is slated for January. Oliver Willman, Baylor Worman, Grayson Duyck and William Carr of Matthews Real Estate Investment Services represented the undisclosed landlord in the lease negotiations. The tenant representative was also not disclosed. Other tenants at Vista Ridge Plaza include Harbor Freight Tools, McAllister’s Deli and Smoothie King.
FARMERS BRANCH, TEXAS — Multinational conglomerate Honeywell International has signed a 17,755-square-foot industrial lease in the northern Dallas metro of Farmers Branch. According to LoopNet Inc., the building at 12880 Valley Branch Lane was built in 1997, totals 75,502 square feet and features 24-foot clear heights. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, GID Industrial, in the lease negotiations. Neil Schorr of Realty Insight Group represented Honeywell.
By Taylor Williams Tenant demand and availability of capital for industrial deals are still healthy in Texas, but end users and developers are demonstrating a clear push for smaller footprints in their leases and projects. This shift reflects a marked departure from recent years, when massive speculative facilities were financed without hesitation or preleasing and industrial users had little choice but to accept staggering levels of rent growth. Spikes in interest rates bear some, but not all, blame for this emerging dynamic. Local and regional banks tend to be go-to debt providers on industrial projects, and these groups take defensive positions with their capital flows during high interest rate environments. And while reliance on e-commerce and third-party distribution remains deeply ingrained in consumer preferences, users still see value in rightsizing their footprints in today’s market. As such, the industrial landscape is changing in Texas, where exceptionally strong population growth nonetheless ensures that the sector remains on very solid footing overall. But changes are undoubtedly happening. Large-scale spec facilities are being swapped for smaller build-to-suits, and manufacturing deals are taking up a larger share of the development pipeline. Lenders are tightening leverage and demanding more upfront equity for projects that they …