RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – MAGNOLIA – D.R. Horton has acquired 73 acres along FM 1488 in Magnolia for the development of Longleaf, a community planned for multifamily and single-family homes. David Alexander and Josh Cheatham of Newcor represented the buyer. The seller was KTR 1488, LLC.

TOMBALL – Baker Katz and Fox & Graham have teamed up to develop Tomball Mercantile, a 15,225-SF retail center at the northeast corner of Highway 249 and Medical Complex Drive in Tomball. The center will be positioned at the entrance to the 150-acre Tomball Medical Complex and is 80% pre-leased. La Viva Cantina, a Houston-based Tex-Mex restaurant, will occupy an 8,000-SF end cap space. Jason’s Deli leased space for its first location in Tomball. The site was acquired from a local hospital system.

HOUSTON – Houston First broke ground on a new location of The Rustic, a restaurant, bar, and live music venue, on the block bounded by Jackson, Pease, Jefferson, and Crawford in downtown Houston. The 18,300-SF location will be owned by Houston First and leased by FreeRange Concepts. The Rustic’s original downtown location was torn down to make way for an expansion of the convention district including the new 700,000-SF GRB South building and a 100,000-SF pedestrian plaza. The project team includes architect Fusion AE, development manager Griffin Partners, and general contractor Harvey Cleary. Completion is planned in March 2027.

HOUSTON – PA Hospitality announced a June 3 groundbreaking on its 153-room AC Hotel by Marriott CityCentre Houston. The six-story hotel at 10752 Town and Country Way was designed by DLR Group and will be built by Anchor Construction. Completion is planned in Q3 2027.

HOUSTON – Showbiz Properties sold 2.46 acres at the intersection of Wilson Road and Beltway 8/North Sam Houston Parkway E., Humble, to Mikenprang LLC. David Meyers and Kevin Sims of NewQuest represented the seller. Jordan Enges and Nick Bergmann of CBRE represented the buyer.

HOUSTON – Juici Patties leased 1,800 SF of retail space in Shepherd Square, 2055 Westheimer, from Shepherd Investments LP. Leni Sandoval of NewQuest and Patrica Amecangelo of RIPCO Real Estate represented the tenant. Paula Hohl of Wulfe & Co. represented the landlord.

HOUSTON – Sophie S. Zheng, P.C. renewed a 1,652-SF lease at 1 Greenway Plaza. Oxford Partners’ Ryan Hartsell represented the tenant. The landlord, CI GWP ONE, LLC, was represented by Rima Soroka of CBRE.

Texas

DALLAS – DFW Land acquired 8020 Park Lane, a 120,923-SF Class A office property within The Shops at Park Lane mixed-use district in Dallas. Built in 2015, the building is fully leased to Energy Transfer LP. The deal follows DFW Land’s acquisition of 8070 and 8080 Park Lane. Newmark arranged portfolio financing for the combined office holdings. Newmark’s Chris Murphy, Gary Carr, Robert Hill, and Austin Sheahan of Newmark represented the seller, Northwood Investors. Andrew Porteous, Clint Frease, Chris McColpin, and Josh Francis arranged the financing on behalf of DFW Land.

DALLAS – Provident Industrial, a division of Dallas-based real estate development and investment company Provident, acquired Commerce 45, a two-building industrial portfolio totaling 1.5 million SF at 1100 and 1150 E. Cleveland Street in Hutchins, Texas, in the South Dallas submarket.

CARROLLTON, Texas – Pepper Lunch leased 2,406 SF in Carrollton Town Center, located at the intersection of President George Bush Turnpike/TX 161 and Old Denton Road, Carrollton, from NewQuest. Heather Nguyen of NewQuest represented the landlord. John Nguyen and Thad Mai of NewQuest represented the tenant.

AUSTIN – Tri Pointe Homes has started sales at Turner’s Crossing South, a 131-acre section of the planned community in Buda, located near I-35 and SH-4516 miles south of downtown Austin. Anticipated to deliver 53 homesites within phase one, Tri Pointe will build homes ranging from 1,603 SF to 2,905 SF on 40-foot and 50-foot lots. Prices start in the $330,000s. Tri Pointe anticipates delivering another 43 homesites in phase two later this summer.

1825 Mustang Court, Southlake, TX — ATLIX signs U.S. HQ lease at 1825 Mustang Court in Southlake. Bradford Commercial Real Estate Services courtesy photo.

SOUTHLAKE, Texas – ATLIX leased 17,180 SF of industrial flex space in Mustang Court, 1825 Mustang Court, Southlake, for its U.S. headquarters. ATLIX is a primary supplier of industrial metal 3D printers, which are manufactured in Italy and distributed worldwide. Shane Benner of Bradford Commercial Real Estate Services represented the tenant. Keaton Brice and Andrew Gilbert of Holt Lunsford Commercial represented the landlord, BSREP III Mustang Court LP.

IRVING – Pioneer Realty Capital, an advisory firm specializing in commercial real estate capital markets, will relocate its headquarters from Arlington to Waterway Tower in Las Colinas. Shannon Brown and Alix Kirby of CBRE represented the landlord. Kyle Kosub of NAI Robert Lynn represented the tenant, which will relocate to 433 E. Las Colinas Blvd. in August.

Nation

CHICAGO – Equity Residential and AvalonBay Communities announced an agreement to combine in an all-stock merger. The combined company will operate under a new name to be announced at closing. With a portfolio of more than 180,000 apartments, the company will have dual headquarters in Arlington, Va. and Chicago. Benjamin Schall, head of AvalonBay, will serve as President and CEO of the combined company.

GLENDALE, Ariz. – Houston-based Lovett Industrial, in partnership with Peakline Real Estate Funds, announced the groundbreaking of North Park Logistics Center, a 1,140,584-SF cross-dock facility being developed on 55.7 acres in Glendale, Ariz. Located in Metro Phoenix’s Southwest Valley, North Park Logistics Center offers access to Northern Parkway, Loop 303, and Interstate 10. The second phase will have 623,000 SF. John Werstler and Cooper Fratt of CBRE are handling marketing and leasing.

PHOENIX – A JV between Scion Group and an Ares Real Estate fund purchased a 12-property, 7,578-bed student housing portfolio from Harrison Street Asset Management for $910 million. Peter Katz of Institutional Property Advisors advised the seller.

Feature image: NorthPark Logistics Center in Metro Phoenix. HPA/Lovett Industrial courtesy rendering.

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