RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – HOUSTON — Marcus & Millichap announced the sale of a 243-room unoccupied hotel property in Houston, previously branded under IHG Hotels & Resorts. Chris Gomes and Tulsee Nathu of Marcus & Millichap represented the seller, APF-Houston, LLC. Situated on 3 acres, the 9-story property at 9090 Southwest Freeway has been closed since 2019.

HOUSTON — Colliers announce the sale of 675 Bering Drive, a 135,641-SF office building in the Galleria/Uptown submarket. David Carter of Colliers represented the seller.

HOUSTON — Cambria Houston Downtown hotel, a 226-room hotel at 1314 Texas Ave., is planning improvements as it celebrates 5 years of operations in 2025. The boutique hotel occupies the historic Petroleum Building, a 21-story Art Deco style building that will turn 100 next year. “The Cambria Houston Downtown is the embodiment of the city’s rich history and vibrant culture,” said Kary Martinez, Director of Sales and Marketing for Cambria Houston Downtown. The hospitality business stands to benefit from a number of downtown revitalization projects underway, including a $2 billion transformation around the convention center, construction of the Main Street Promenade, and the development of the Astros Entertainment District. The hotel will introduce room service in 2025.

HOUSTON — SM Energy Co. signed a long-term extension and expansion lease that will double its space to 41,454 SF at One Eldridge at 777 North Eldridge Parkway in the Energy Corridor. The company will relocate from the 10th floor to the 11th and 12th floors in the third quarter. Steven Mulhern of Mulhern Co. and Bill Scott of Real Estate One represented the tenant. Jon Dutton and Andrew Elliott of Granite Properties represented the landlord. Said Paul Bennett, Senior Managing Director, Granite Properties. “We’re proud that SM Energy has been a long-term customer of One Eldridge. Granite’s three-building Eldridge office campus is 92.2% leased. The campus totals 828,784 SF with hospitality driven lobbies and outdoor workspaces.

HOUSTON — Burlington Coat Factory leased 20,350 SF in the Shops at Stone Park, located at Beltway 8 and Wallisville Road, Houston, from Ley-Lane Partnership No. 9 LP. Nina Irwin of NewQuest represented the landlord. Greg Stackhouse of New Regional Planning represented the tenant.

TOMBALL, Texas — Starbucks leased 2,258 SF in the Grand at 249, located at the intersection of TX 249/Tomball Highway and TX 99/Grand Parkway from NewQuest. Andrew Alvis of NewQuest represented the landlord. Laster Miller and Ryan Chandler of the Retail Connection represented the tenant.

CLEVELAND, Texas — Marco’s leased 1,397 SF of retail space in Cleveland Shopping Center, 429 W. Southline St., Cleveland, from F6 Properties Ltd. Kevin Sims and Nick Ramsey of NewQuest represented the landlord. Cyrus Chen of CYC Commercial LLC represented the tenant.

DEER PARK, Texas — CenterPoint Properties purchased the brand-new Class A TruePort Distribution Center at 2830 E. Pasadena Blvd. in Deer Park. The 254,705-SF cross-dock warehouse is fully leased to Ironwear, a manufacturer of personal protection safety products. Trent Agnew, Charlie Strauss, and Lance Young of JLL Capital Markets brokered the off-market transaction. The deal bring’s CenterPoint’s Houston portfolio to 18 properties totaling 2.6 million SF of industrial space.

HOUSTON – Oliva Gibbs, LLP, an oil and gas law firm, leased 20,974 SF at 11750 Katy Freeway. Ryan Hartsell of Oxford Partners represented the tenant in the relocation. Steve Bryant of Mac Haik Enterprises represent the landlord, Energy Tour IV Investments Ltd.

HOUSTON – Vestas, a leading global wind turbine manufacturer, has opened its Houston office at 609 Main Street, reinforcing Downtown’s role as a hub for the evolving energy sector. The Denmark-based company, which employs 33,000 people worldwide, is actively hiring local talent and has ambitious growth plans for its Houston presence. At last week’s ribbon cutting, Vestas North America President Laura Beane—who recently relocated to Houston from Portland—shared the company’s commitment to expanding in Houston. She was joined by Downtown Houston+ President & CEO Kris Larson, Greater Houston Partnership President & CEO Steve Kean, and City Council Member Joaquin Martinez, highlighting the regional significance of this investment.

HOUSTON – Brookwood Advisors renewed a 2,200-SF lease at 2180 North Loop West. Oxford Partners’ Ryan Hartsell represented the tenant. The landlord, Gupta Houston Texas Properties, L.P., was represented by Robert LaCoure of Cushman & Wakefield.

HOUSTON – Kelly S Mathews, LLC signed a lease renewal for 8,054 SF at 1225 North Loop West. Oxford Partners’ Ryan Hartsell represented the tenant. The landlord, North Loop INVEI 1225, was represented by Seth Eslami of 1225 North Loop Investments, Inc.

Texas

FORT WORTH – Trademark Property Company in partnership with Swift Creek Partners, has sold Waterside, a 63-acre, mixed-use community anchored by Whole Foods Market and REI. The 8-year-old development, which has 1.8 miles of Trinity River frontage, was acquired by The Georgetown Company. The property was formerly used as a recreational site for General Dynamics. Located off Bryant Irvin Road Waterside has 157,791 SF of retail, 550 multifamily units, a Residence Inn, townhomes and an office building. Terry Montesi is founder and CEO of Trademark.

SCHERTZ, Texas — Core5 Industrial Partners, in partnership with Cushman & Wakefield, announced the completion of Core5 Logistics Center at N. Loop 1604 East and Interstate 10 in Schertz, Texas, near San Antonio. Carlos Marquez and Sergio Acosta of Cushman & Wakefield are marketing the property for-lease to prospective users. Building A at 10260 Viewpoint Ridge has 536,824 SF of logistics space. Building B at 10264 Viewpoint Ridge has 468,280 SF. The project is adjacent to the site of a new, $21.2M H-E-B grocery store slated to open in late 2026. Core5 Vice President John Leinbaugh said, “Core5 Logistics Center at I-10 offers optimum functionality to serve a variety of users requiring Greater San Antonio, regional or national distribution.”

ARLINGTON, Texas — Southern Cross LLC leased a 25-acre tract at 2808 Pintail Road, Arlington, from Texas Star Inc. Jim Ferris, vice president of Bradford Commercial Real Estate Services, represented the tenant. Scott Jackson and Jadon Bly of Capstone Commercial represented the landlord.

FORT WORTH — Dallas-based CanTex Capital, an investment company focused on repositioning and redeveloping infill industrial assets, purchased a 230,2920-SF manufacturing facility at 7901 South Freeway in Fort Worth. CanTex plans to complete capital improvements to the property in the first quarter. NAI Robert Lynn’s Managing Principal and Fort Worth President Todd Hubbard represented CanTex in the transaction. “With its ideal location and infrastructure, we’re certain this facility will drive even greater growth for the area, once the final capital improvements are complete,” said Sam Cheema, COO and principal of CanTex Capital.

SAN ANTONIO – JLL Capital Markets arranged the sale of NOVA Apartments, a 412-unit community in Northwest San Antonio at 13200 Vance Jackson Road. JLL’s Robert Arzola, Ryan McBride and Robert Woote represented the seller, Metlife Investment Management. NOVA Apartments, built in 2009 on 31 acres boasts a total rentable space of 352,912 SF

National

SANTA CLARA, Calif. — Cushman & Wakefield’s Walt Stephenson and Jeff Cushman represented landlord Drawbridge Realty in securing a new lease for a 51,136-SF Class A research and development building at 4600 Patrick Henry Drive in Santa Clara, Calif., near Levi’s Stadium. Greg Tippin and Tracey Solari with Newmark represented the tenant, EBR Systems (ASX: EBR), a medical device company.

BEDFORD, Mass. —Shorenstein Investment Advisers, an owner and operator of office, residential, and mixed-use properties across the U.S., in a joint venture with Tritower Financial Group, a Boston-based private real estate investment firm, announced the acquisition of The XChange, a 480,000-SF research and development office park in Bedford, Mass.

GRESHAM, Ore. — JLL Capital Markets has secured a $15.9M financing for Woodland Flats, a 120-unit hotel-to-multifamily conversion project in Gresham, Ore. JLL worked on behalf of the borrower, PH Development LLC, in arranging the two-year, bridge loan through AGP Capital. The project at 2752 NE Hogan Drive is 25 minutes east of downtown Portland. JLL’s Tom Wilson, Steve Petrie, and Jake Davidson represented the borrower.

ETC.

CYPRESS, Texas — Trademark Property Co. expects to launch construction on Dunham Pointe, a retail and restaurant district at Highway 290 and Mason Road in Cypress, in Q4 of 2025. The project, which will encompass 205,000 SF of retail on 25 acres, is part of the master plan for the 1,300-acre Dunham Pointe community planned for 2,500 homes. So far, 1,110 lots have been sold. Trademark is working with Dunham Pointe Development to create a highly amenitized and walkable community. To date, 48 retail, dining and lifestyle tenants have submitted letters of intent for the new district

Trademark’s Houston portfolio includes Market Street – Woodlands and LaCenterra at Cinco Ranch.

“Building on the success of Market Street, we’re excited to deliver another special destination to greater Houston that will add quality retail and public realm amenities,” said Blake Bickmore, VP of Development. “Alongside high interest from national retailers, we are also focused on merchandising the property with local operators, particularly in the F&B space. We’re getting great feedback from prospective tenants and can’t wait to share more on what’s to come.”

Lance Taylor, SVP of Development at Trademark, added, “We have had an unprecedented response to our new development, confirming that Dunham Pointe is the retail and dining destination the Cypress community has been waiting for. Before even breaking ground, the property has exceptional interest from a collection of best-in-class tenants that offer an unrivaled experience. Starting later this year, we’re excited to see this community come to life.”

Caption: Waterside MXU in Fort Worth. Photo credit: courtesy Trademark Property Company

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Trey Odom of Avera

LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston +

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

LISTEN: THE RALPH BIVINS PROJECT with Jeff Havsy of Moody’s Analytics

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

LISTEN: THE RALPH BIVINS PROJECT with John S. Moody, Jr. of Moody Law Group

LISTEN: THE RALPH BIVINS PROJECT with Scott Martin of Granite Properties

LISTEN: THE RALPH BIVINS PROJECT with Robert Clay of Clay Development

LISTEN: THE RALPH BIVINS PROJECT with Alma Zavala of CommGate

LISTEN: The RALPH BIVINS PROJECT with Adam Lair of Partners Capital