HOUSTON — Square Robot Inc., a provider of energy equipment and solutions, has signed a 14,200-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 12302 FM 529 was built in 2014 and totals 55,516 square feet. Christian Villarreal and Jack Gaffney of Finial Group represented the tenant in the negotiations for the seven-year lease. Brandon Wuntch and Drew Altmann of Fritsche Anderson Realty Partners represented the undisclosed landlord.
By J. Wickam Zimmerman, CEO, Outside The Lines Inc. The use of artificial intelligence (AI) technology is growing in retail commerce, where it’s already helping businesses track inventory, forecast demand and suggest new products to consumers. But how does AI figure into retail real estate? Can it be used to enhance engagement and drive success at the properties themselves? Could it help entice shoppers to step away from their online shopping carts and venture out into the real world? The answer is a resounding yes, and we’re already seeing this play out in the Lone Star State. Creating Spaces That Attract & Retain With major Texas markets like Dallas-Fort Worth and San Antonio seeing record-high retail occupancy rates, many property owners are focused on capitalizing on this momentum. To keep foot traffic high and remain competitive with other local developments and online shopping, it’s more important than ever to create unique draws to centers. A key strategy involves creative placemaking and offering experiential destinations that are increasingly bolstered by technology, including AI. To stay ahead, retail centers today must offer an experience that can’t be replicated virtually. This requires having dynamic, interactive onsite features and leveraging technologies that are just …
ROSENBERG, TEXAS — Locally based developer The Signorelli Co. has broken ground on Phase I of Austin Point, a 4,700-acre master-planned community in Rosenberg, located roughly 30 miles southwest of Houston in Fort Bend County. Upon completion, the development will feature 14,000 homes and 17 million square feet of multifamily, office, medical, retail and hospitality space. The project will also include the extension of Fort Bend and Grand parkways at the development site for more convenient access to downtown Houston. Phase I of Austin Point will include the construction of 400 homes that will be built on smaller lots in an alley-loaded format and will range in size from 1,300 to 4,500 square feet.
HOUSTON — Houston-based Silver Star Properties REIT has received $135 million in financing to facilitate the liquidation of its 4.2 million-square-foot portfolio of office assets in Texas. Silver Star intends to sell all 27 properties in the portfolio, which includes two industrial assets and one retail asset, and to use the proceeds to exclusively acquire self-storage facilities. The financing consists of a $120 million floating-rate senior loan from New York City-based Benefit Street Partners and a $15 million co-terminus second mortgage loan from California-based boutique lender RWBC. Raymond James Financial advised Silver Star, which has already sold the 139,069-square-foot Bent Treen Green office building in North Dallas, on the transaction.
FORT WORTH, TEXAS — Los Angeles-based development and investment firm CIM Group has sold a 139,502-square-foot cold storage facility in Fort Worth. The site, which CIM Group acquired in 2020, spans 14.4 acres near the junction of Interstates 20 and 35. According to LoopNet Inc., the newly constructed facility features 36-foot clear heights, 34 dock-high doors, an ESFR sprinkler system and parking for 44 trailers (expandable to 101). The buyer and sales price were not disclosed.
BROWNWOOD, TEXAS — KW Commercial, a division of national brokerage firm Keller Williams Realty, has arranged the sale of the 26-unit Casa Grande Apartments in Brownwood, located roughly 160 miles southwest of Dallas and 140 miles northwest of Austin. Built in 1979, the property offers one- and two-bedroom units as well as a courtyard and onsite laundry facilities. Ryan Franckhauser of KW Commercial represented the seller, a Dallas-based private investor, in the all-cash transaction. The name of the Wyoming-based buyer was not disclosed.
DALLAS — GSR Andrade Architects has signed a 10,491-square-foot office lease at the historic Oilwell Supply Building in the West End district of Dallas. The five-story, 73,384-square-foot building is located at 2001 N. Lamar St. and was originally constructed in 1923. Nate Hruby and Demian Salmon of Stream Realty Partners represented GSR Andrade, which is relocating from the Exposition Park area, in the lease negotiations. A partnership between The Deal Co. and Scarlet Capital owns the building.
GEORGETOWN, TEXAS — Philadelphia-based investment firm EQT Exeter has acquired a 449,642-square-foot industrial building in the northern Austin suburb of Georgetown that is fully leased on a long-term basis to solar panel manufacturer CAF Energy. The sales price was $60.9 million. Located at 110 SE Inner Loop Road, the building was completed in 2023 and features 106 loading doors, 36-foot clear heights and parking for 123 trailers and more than 500 cars. At full operation, CAF Energy expects to employ more than 240 people at the facility.
AUSTIN, TEXAS — Shorenstein Properties, an investment firm with offices in San Francisco and New York City, has sold a 248,000-square-foot office building in Austin’s Mueller district. The Teacher Retirement System of Texas (TRS) purchased the six-story complex, which is known as The Bravo Building, with plans to relocate its headquarters to the facility. The sale included an 845-space parking garage. TRS sold its former headquarters building at 1000 Red River St. in downtown Austin in fall 2022.
DALLAS — Bradford Cos. has purchased Bent Tree Green, a 139,069-square-foot office building in North Dallas, with plans to invest about $9.6 million in capital improvements. Bent Tree Green is a three-story building that overlooks the 190-acre country club of the same name. Bradford plans to add a fitness center, outdoor tenant lounge, putting green and speculative suites to the property. JLL represented the seller, Silver Star Properties REIT, in the transaction.