RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) –HOUSTON – Colliers announced the sale of Parks at Boulder Creek, a 52,889-SF neighborhood retail center at 10555 Pearland Parkway at Beltway 8. Joshua Sebesta of S+P Interests represented the buyer and Christopher D. Winters of Colliers represented the seller in the transaction. The property is anchored by Spec’s Wines, Spirits & Finer Foods and includes a Chipotle Mexican Grill ground lease.

HOUSTON – JKZ Fairmont Preston acquired Fairmont Preston Plaza, a 105,869-SF neighborhood retail center at the intersection of Fairmont Parkway and Preston Avenue in Pasadena. Ryan West, John Indelli, Zamar Salas, and Max Myers of JLL represented the seller, Mission Shore Management. Matt Moake with HighStreet Net Lease Group represented the buyer. Built in 1974 and renovated in 2016, Fairmont Preston Plaza is 89% leased. The center is anchored by a 24,000-SF Cosmic Air trampoline and entertainment facility and a 26,000-SF Planet Fitness.

HOUSTON – Houston-based Lovett, whose family of companies includes residential development division InTown Homes, announced the sale of the 300th home at Kolbe Farms. The 38-acre gated community is located off Hollister Road in Spring Branch. The milestone coincides with the launch of the community’s final phase of approximately 100 lots. New homes are priced from the $430,000s to the $900,000s. With coastal-inspired homes with front porches facing shared greenspaces, the neighborhood’s design draws inspiration from the principles of architect and urban planner Andrés Duany, a pioneer of new urbanist communities including Seaside, Fla. Amenities include a three-acre lake and park system with trails, pools, pavilions and gathering spaces. The newest phase introduces larger lots and an increased number of two-story homes, evolving from the earlier predominance of three- and four-story townhomes. The community is named after Karl Kolbe, a German immigrant who helped establish Spring Branch as a farming community in the 1800s. Lovett acquired the property in 2000 and sold the first homes in 2015.

CONROE – Trilogy by Shea Homes has started pre-sales at Converde, a gated community for ages 55 and up in Conroe. Spanning 170 acres and planned for 540 homes, Converde is planned to be the only gated neighborhood within the Evergreen master planned community. Homes range from 1,514 to 2,524 SF and start in the low $300,000s. The Montgomery County community will be anchored by the Open Wellness + Social Club. Planned amenities include a fitness and wellness center, casual dining and bar, indoor and outdoor social spaces, a resort-style pool, and pickleball courts. A dedicated Lifestyle Director will curate events, clubs, and experiences year-round.

HOUSTON – Interior designer and entrepreneur Nina Magon and real estate developer Moiz Bhamani of Eletell Development announced the launch of KA Residences, a wellness-centered brand of residential developments designed for optimizing personal restoration through daily wellness. KA Houston, the first KA Residences to be built, will feature a wellness suite branded as a Merkaba Room in each residence. The residences will initially be offered to buyers on an invitation-only basis. With $1 billion of projects in the pipeline, other KA Residences will follow in Dallas, Scottsdale, Dubai, and Mexico City.

HOUSTON –Transwestern has been selected by DML Capital to provide leasing and property management for 1800 Bering, a recently acquired office building totaling 171,150 SF. Louann Pereira, Jack Scharnberg, and Doug Little are handling the assignment. The 83.2%-leased building offers spec suites for professional services firms. DML Capital also awarded Transwestern the leasing responsibilities for 4265 San Felipe in Q4 2025.

Texas

Dallas – BDT & MSD Partners, Trammell Crow Co., the owners of Highland Park Village, and The Retail Connection announced the groundbreaking of the 300,000‑SF Knox & McKinney, a boutique office and retail building scheduled to deliver in 2028. Rising 12 stories at 4544 McKinney Ave., the Class AA tower will offer 280,000 SF of office space and 20,000 SF of ground‑floor retail and dining. Jones Day, a law firm represented by Cushman & Wakefield, signed a lease for 76,000 SF. Knox & McKinney builds on the momentum of the partnership’s 1‑million‑SF Knox Street mixed‑use development located two blocks west. Designed by Pickard Chilton Architects and HKS Architects, Knox & McKinney is being constructed by DPR Construction. JLL arranged financing through Goldman Sachs Alternatives. CBRE handles office leasing and the Summers Group oversees retail leasing.

DENISON, Texas – The Denison Development Alliance has selected Craig International as master developer for a 189-acre, city-owned site at the intersection of US Highway 75 and FM-84 in North Texas. Craig International’s $12 million proposal was selected from four competing bids. With views of Randell Lake and Lake Texoma, the property is near the future $6B Preston Harbor development.

“Our goal is to create a walkable, mixed-use destination that attracts major users, creates energy at the front door of Preston Harbor and delivers long-term value for the City of Denison,” said CEO David Craig.

The project will move forward in phases, beginning with collaborative planning between Craig International and the City of Denison to refine the site plan, align on a long-term vision, and recruit key anchor users.

DALLAS – JLL has been selected to market and lease Pinnacle Tower, which was sold by New York Life to Estein USA and Vanderbilt Office Properties earlier this month. Located at the northwest corner of Lyndon B. Johnson Freeway and Dallas North Tollway, the 549,170-SF building is 88% leased. Blake Shipley, Gini Rounsaville, and Ashley Curry will handle leasing.

FORT WORTH – 5251-55 Wilbarger LLC has sold a 20,298-SF, two-building industrial project on 1.36 acres at 5251 and 5255 Wilbarger St., Fort Worth, to 4K Lift Co. LLC. Luke Clardy and Cade Navarro of Bradford Commercial Real Estate Services represented the seller.

DALLAS – CIM Group sold Best Buy Plaza, a 177,434-SF shopping center at 9358 N. Central Expressway in Dallas after a 10-year hold. The Best Buy-anchored center is 100% leased with additional tenants including Dick’s Sporting Goods, Total Wine, Cavender’s, and Hyper Kidz. JLL brokered the transaction.

National

MOUNTAIN VIEW, Calif. – OpenAI leased the entire 450,000-SF campus at 350-380 Ellis in Mountain View, Calif. in Silicon Valley. KKR Real Estate Finance Trust and TMG Partners owns the campus. In 2024, TMG was selected to reposition the campus into a future-ready workplace designed to meet the needs of leading global technology companies.

Mark Your Calendar: Commgate’s annual Developer Showcase will be held April 29 from 4:30 to 7:00 PM at the Houston Country Club. The event will provide Houston’s brokerage community an overview of significant Houston area commercial real estate developments in a small-scale trade show format. For more information: www.Commgate.com

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Bob Parsley of Colliers Houston

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LISTEN: THE RALPH BIVINS PROJECT with Lacee Jacobs of Rebel Retail Advisors

LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers

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LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate