RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – HOUSTON – Wright Close & Barger, an appellate and civil litigation law firm based in Houston, has leased 41,000 SF at TC Energy Center, 700 Louisiana in downtown Houston. The firm will relocate its Galleria area headquarters to all of the 30^th and most of the 31^st floor of 700 Louisiana. Joshua Brown and Audrey Selber of Newmark, with support from transaction manager Kaitlyn Duffie, represented the tenant. John Spafford of CBRE represented the landlord, M-M Properties. The new space is 60% larger than the previous office to support a growing team of nearly 50 lawyers. WCB was founded by Thomas C. Wright and Howard L. Close in 2002.

“Downtown Houston is the heart of our legal community,” said Tom Wright, founding partner of WCB. “This move puts us closer to the courts where we appear nearly every day, closer to the clients we serve, and right alongside the trial firms we frequently partner with. It’s a natural next step for the firm we’ve become.”

HOUSTON – Los Angeles-based Priority Capital Advisory arranged a $26.6 million bridge refinance for 2 Westlake, a 17-story, 467,609-SF office tower at 580 Westlake Park Blvd. in west Houston’s Energy Corridor. The financing was secured on behalf of Younan Co., a global private equity firm founded by Zaya S. Younan. Set on 5.4 acres within the 2.8 million-SF Westlake Park office complex, 2 Westlake is 56% leased. Younan Co. acquired the property in December 2022 for $21.55 million when it was vacant and completed significant renovations. Amenities include a remodeled lobby, full-service deli, coffee bar, conference center, tenant lounge, and fitness facility.

“Refinancing an office asset in today’s environment is no small feat, and this transaction was no exception,” said Zachary Streit, Founder and President of Priority Capital Advisory. “We engaged over 100 capital providers and ultimately secured a lender that believed in the asset’s story, the sponsor’s business plan, and the continued strength of the Energy Corridor. This financing allowed the borrower to retire maturing debt, fund tenant improvements, and secure the runway needed to stabilize a newly renovated, high-quality asset.”

TOMBALL, Texas– Portillo’s Hot Dogs has ground leased a 2.13-acre retail pad site in Grand at 249 from NewQuest. The center is being developed at the intersection of TX 249/Tomball Parkway and TX 99/Grand Parkway, Tomball. Andrew Alvis of NewQuest represented the landlord. Tucker Szybala of Falcon Realty Advisors represented the tenant.

HOUSTON – Oxford Partners represented SLS Inc. in the sale of the 15,000-SF building at 17645 Telge Road in Cypress. Jeffery Arnaud handled the transaction.

STAFFORD, Texas – Chace Henke and Micha van Marcke of Edge Capital Markets represented the seller of Shops at The Grid, a 12,500-SF retail center at 12333 Southwest Freeway in Stafford. The newly constructed center is 100% leased. It is located at the entrance to The Grid, a 192-acre mixed-use development anchored by Costco Business Center and an upcoming Target store slated to open this fall.

HOUSTON – George Montes of Cypressbrook Company represented PCA 5 LLC., which leased 6,075 SF of retail space located at 5524 Richmond Ave. Gareth Kohlhausen of Z-Three Real Estate represented the landlord, Fisher Systems LLC.

SPRING, Texas – CityVet has leased 3,563 SF of retail space in Shops at Spring Town Center, at the intersection of FM 2920 and Kuykendahl Road, Spring, from NewQuest. Kevin Sims and Lara Lee LaMendola of NewQuest represented the landlord. Sarah Savage of JLL represented the tenant.

HOUSTON – Mind Technology leased 3,452 SF at 2002 Timberloch Place, The Woodlands. Perry Mazzone of Oxford Partners represented the tenant. The landlord, Timberloch, Inc, was represented by Cathy Young and Lisa Hughe of SVN | J. Beard Real Estate.

HOUSTON – John Hornbuckle of Cypressbrook Company represented the tenant, ReoTemp Instruments Corporation, in leasing 31,432 SF of office and warehouse space at 13770 Hollister Road. Logan Greer of Insite Realty represented the landlord, East Group Properties, LP.

SUGAR LAND – Gascoyne & Bullion renewed a lease for 2,583 SF at 77 Sugar Creek Center Blvd., Sugar Land. Ryan Hartsell of Oxford Partners represented the tenant. Louann Pereira of Transwestern represented the landlord, 77 Sugar Creek, LLC.

Texas

SAN ANTONIO – Partners Real Estate arranged the sale of a 26,436-sq.-ft. single-tenant Industrial Outdoor Storage (IOS) facility located at 8034 NE Loop 410 Partners’ Stan Nowak and Andrew Alizzi represented the seller, Harbor Capital. The IOS property is fully leased to Mears Installation and backed Quanta Services. The facility was acquired by Base Industrial, which recently launched an IOS investment fund.

FRISCO, Texas – Standard Insurance Co. (The Standard), an insurance and financial services company, signed a 10-year lease for 21,163 SF at The Tower at HALL Park, the campus’ new 16-story office building, for a new regional office. The Standard is expected to take occupancy in early 2026. Rick Pearson, Ryan Hoopes, and Dean Dahlsten of Cushman & Wakefield brokered the lease. HALL Park is moving into its second phase of redevelopment to transform from a singular office focus into a mixed-use development designed for work, living, and social connection. Developed in the 1990s, HALL Park encompasses 2.6 million SF of office space throughout 16 completed buildings. The new HALL Park Hotel – Marriott Autograph Collection on the campus is part of a master plan that will encompass 9.5 million SF of mixed-use space over 20 years of development.

AUSTIN – Berkadia arranged debt and equity to recapitalize The Conley, a 259-unit apartment complex at 665 N. Bagdad Road in Leander near Austin. Scott Wadler, Matt Nihan, Mitch Sinberg, Brad Williamson, and Matt Robbins arranged the financing on behalf of the sponsors, a joint venture between Beacon Real Estate Group and Constellation Group. Lender Lasalle provided a loan with a three-year term and two 12-month extension options. A Los Angeles-based preferred equity partner also contributed capital to the deal. The complex was built in 2020.

PLANO, Texas – Newmark announced three new office leases totaling 70,000 SF at Willow Bend Office Center I, a two-story building at 2740 Dallas Parkway in Plano. The agreements include a 32,000-SF lease with an undisclosed tenant, a 29,000-SF lease with Amrize (formerly Holcim) and a 9,000-SF commitment with Sutton Engineering. Nathan Durham of Newmark represented the landlord, CFT NV Developments. The deals bring the 124,000-SF building to 75% occupied. Steve Wentz and Mark Becker of Cushman & Wakefield represented Amrize, Travis Ewert of Colliers represented the undisclosed tenant, and Tor Erickson and Roy Reis of Telos Real Estate represented Sutton Engineering.

IRVING, Texas – Cushman & Wakefield announced that the firm represented ownership in its disposition of Parc GSW in Irving, in Dallas-Fort Worth’s Upper Great Southwest industrial submarket. Jim Carpenter, Jud Clements, Robby Rieke, and Emily Brandt represented the seller. Completed in 2017, Parc GSW consists of a 450,340-SF distribution center at 4931 Conflans Road and a 232,151-SF distribution center at 4921 Conflans Road. Each is fully leased to a single, national tenant.

ROUND ROCK, Texas – SRS Real Estate Partners brokered the sale of The Shops at Greenlawn, a 22,970-SF retail center at 3200 Greenlawn Blvd. in Round Rock, on behalf of Mathias Partners, an Austin-based investment and development firm. The buyer was an out of state, global real estate investor. Cathy Nabours, Kyle Shaffer, and Sam Nichols of SRS Capital Markets in Austin represented the seller.

FRISCO, Texas – STRIVE, a commercial real estate investment sales firm based in Dallas, Houston and Newport Beach, announced the sale of Shops at Creekside in Frisco. The 100% occupied, 19,942-SF retail center is located on Preston Road. Hudson Lambert of STRIVE represented the seller, a local developer, and secured a local DFW investor as the buyer.

FARMERS BRANCH, Texas – Wonder Behavior Centers leased 7,540 SF of office space in Three Hickory Centre, 1801 Wittington Place, Farmers Branch, from MM Property Holdings IV LLC. Jared Laake and Erik Blais, senior vice presidents of Bradford Commercial Real Estate Services, represented the landlord. Ana Martin and Arthur Greenstein of Dave Perry Miller Real Estate represented the tenant.

National

JACKSONVILLE, Fla. – Northstar Hotels Management purchased the 78-key Residence Inn Jacksonville Airport and the 81-key Courtyard Jacksonville Airport Northeast from an institutional seller. Robert Taylor and Sophia Pittaluga in Hunter Hotel Advisors’ Miami office brokered the sale.

MIAMI – Fort Worth-based Olympus Property expanded into the Miami market with the acquisition of Fifteen, a new 132-unit apartment complex in Miami’s Health District. Walker & Dunlop’s Fort Lauderdale investment sales team, including Still Hunter and Kaya Suarez, arranged the transaction.

ETC

HOUSTON – NewQuest has signed the first round of tenants to encircle nearly five acres of green space in Texas Heritage Marketplace, an 800,000-SF regional development under construction at the southeast corner of Interstate 10 and Texas Heritage Parkway in Waller County. The entire 165-acer project will be anchored by Target, which is expected to open in October 2026, and EoS Fitness. The premium green space component, totaling 39,811 SF, has signed: Escalante’s, 5,005 SF for the upscale Tex-Mex restaurant’s eighth area location; Tony C’s, a pizza and beer garden based in Austin and founded in Boston named after Red Sox legend Tony Conigliaro, 4,900 SF; Aji Izakaya, 2,800 SF; and Kilwin’s, 1,400 SF. The green space will feature a large Heritage oak tree, which NewQuest rescued from the highway’s path during its construction, a water feature and native plantings. Bob Conwell of NewQuest is handling preleasing.

“Aji Izakaya and Kilwin’s are equally well-known brands in the market and both are expanding,” Conwell said. “We’re starting with four strong attractions as place-makers for the green space.”

NewQuest has signed deals with two of the four national anchors with others to be announced soon. The project will include a 50,000-SF medical facility, which could be expanded to 70,000 SF, and at least 500 high-end multifamily units.

COLLEGE STATION, Texas – Construction has started on EVER, the first structure in a two-phase student housing community two blocks west of Texas A&M University. EVER, with 545 beds in a total of 176 units, is being developed by Subtext, a national real estate company focused on elevating the resident experience, and equity partner Larson Capital Management. OHT Partners is serving as the general contractor. The seven-story building at 401 Stasney St. will feature contain 384,788 SF and 420 parking spaces. Units will be available to rent by the bed in summer of 2027. The 545 beds will be within a variety of floor plans, ranging from studios to five-bedroom units. Amenities will include open lounges, study rooms, a coffee bar, mini market, fitness center, sauna, meditation rooms, outdoor fitness spaces, multi-sport simulator, indoor/outdoor bar and kitchen, and a game lounge with yard games. The second phase, named VERVE, will be an 818,324-SF, 21-story property with 1,193 beds across 382 units. VERVE is expected to open in the summer of 2028.

OHT Partners, which specializes in building multi-family projects, has been steadily growing the student housing component of its portfolio. Projects include Morado on Berry near Texas Christian University, and Cortado near the University of Texas at Austin. OHT recently broke ground on a 360-unit complex in Katy.

Photo: TC Energy Center in downtown Houston,