RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – HOUSTON – MetroNational has tapped JLL to market and lease the recently acquired 990 Town and Country Blvd., a 451,000-SF building in west Houston’s CityCentre district. MetroNational acquired mostly vacant building from ConocoPhillips in August. JLL’s Jon Dutton, Tyler Garrett, and Jack Russo will handle office leasing on behalf of MetroNational. The 15-story building was formerly the corporate headquarters for Marathon Oil.

“990 Town and Country Blvd. represents the highest quality building in the tightest submarket in the city,” said Dutton. “Based on the immediate leasing momentum we’re already experiencing, it is clear that tenants are viewing this as a once-in-a-cycle opportunity to secure space that attracts and retains top talent. With exponential leasing velocity in the submarket and best-in-class features, 990 Town and Country Blvd. will continue to attract leading businesses.”

HOUSTON – Hospitality Solutions has completed two significant real estate transactions in the Houston market. The company subleased its current 26,847-SF space at Interwood Business Center, 14440 John F. Kennedy Blvd., for the remainder of the original lease term. In a concurrent move, the company has signed a new lease for 48,000 SF at Jersey Village 2, 7420 Security Way, Jersey Village. Barrett Gibson and David McMahon of Colliers represented Hospitality Solutions in both transactions.

SPRING, Texas – Flatcreek Development purchased 18,000 SF at 1271 Rayford Bend in Spring. Kevin Caywood and Grant Wisenbaker with Stream Realty Partners represented the buyer.

HOUSTON – Bedliners of Houston, a Houston-based company specializing in the installation of high-quality spray-on bed liners for trucks and other vehicles, leased an 8,400-SF industrial building at 828 FM 1960 near Imperial Valley Drive in Houston’s North submarket. Richard Glass and Conrad Chambers of Lee & Associates represented the landlord, Christina Nguyen Trust.

RICHMOND, Texas – Nu Dentistry leased 2,100 SF of retail space in Grand at Aliana, located at the intersection of West Grand Parkway S. and West Airport Boulevard, Richmond, from NewQuest. Josh Friedlander of NewQuest represented the landlord. Alex Frias of Phelps & Frias Commercial represented the tenant.

HOUSTON – A1 Plus Electrical expanded into 12,600 SF at 15110 Northwest Freeway. Meg Zschappel and Garret Geaccone with Stream Realty Partners represented the landlord, Adler Real Estate Partners.

HOUSTON – Asset Living, a Houston-based property management firm, has formed a partnership with EliseAI to enhance leasing, collections, and resident communications across Asset Living’s over 450,000-unit portfolio. Asset Living has expanded from 70,000 units in 2020 to more than 450,000 units today.

HOUSTON – Adam’s Warehouse & Delivery expanded into 29,419 SF at 309 McCarty Street. Boone Smith and Meg Zschappel with Stream Realty Partners represented the landlord, ATCAP Partners. Jim Arledge with Arledge & Co. represented the tenant.

HOUSTON – 29th Street Living assumed management of August Friendswood, located at 2911 W. El Dorado Blvd., Friendswood, and Haven at Bellaire, located at 20220 Bellaire Blvd. in Richmond effective Sept. 15.

HOUSTON – XXL Construction leased 12,380 SF at 1655 Townhurst Drive. Boone Smith, Garret Geaccone, and Natalie Gilbert with Stream Realty Partners represented the landlord, Nuveen Real Estate. Don Fincher with TruCore Commercial represented the tenant.

Texas

ROCKWALL, Texas – Westwood Financial acquired the Shops at Stone Creek at 3066 N. Goliad Street in Rockwall. The 80,599-SF center is 100% leased and anchored by a 59,313-SF Tom Thumb grocery store. Barry Brown and Adam Howells of JLL Capital Markets represented the seller, Crestview Real Estate, which was partnered with a long-term family office. Crestview developed the center in 2009. Staci Bowen, Tim Thompson, and Dalton Stogner of Crestview were involved in the deal.

DALLAS – Stream Realty Partners has been awarded the office leasing, property management, and construction management for The Sinclair, a $300 million redevelopment at 401 N. Ervay Street in downtown Dallas. Originally designed by I.M. Pei & Partners and formerly known as Energy Plaza, the 429,000-SF office tower was redeveloped by Todd Interests and has been repositioned as The Sinclair. JJ Leonard, Patrick Cruz, and Sam Bass will lead the leasing efforts. The building, which reopened in 2024, anchors a mixed-use project that includes 293 multifamily units overlooking Klyde Warren Park. The building offers a contiguous 16-floor block of space with patio terraces on every floor.

HUTTO, Texas – Amy’s Ice Cream leased 750 SF of retail space in Townwest Commons, located at the intersection of TX 79 and CR 119, Hutto, from NewQuest. Josh Friedlander and Leni Sandoval of NewQuest represented the landlord. Connor Lammert of Endeavor Real Estate Group represented the tenant.

DALLAS – New York-based GTIS Partners acquired a 26-acre industrial site in the Great Southwest submarket of Dallas-Fort Worth for the development of a 442,000-SF Class A cross-dock facility. The project, named Remington 30, marks GTIS’ fifth equity industrial investment in Texas and 18th in the U.S. The development is south of the Dallas Fort Worth Airport and provides quick access to I-30, a primary east/west thoroughfare connecting Dallas and Fort Worth. Remington 30 will target the bulk segment (defined as 250,000-500,000 SF) of the industrial market.

MARBLE FALLS, Texas – Centurion American Development Group has released Phase II lots at Thunder Rock, a master-planned community at Highway 71 and Highway 281 in Marble Falls. Thr new phase contains 214 single-family homesites on 50-foot lots. D.R. Horton and Lennar are building homes starting in the low $290,000s. The 280-lot first phase sold out.

CARROLLTON, Texas – Molly Tea leased 1,600 SF of retail space in Carrollton Town Center, located at the intersection of President George Bush Turnpike and Old Denton Road, Carrollton, from NewQuest. Heather Nguyen of NewQuest represented the landlord. Rebecca Le of NewQuest represented the tenant.

ARLINGTON, Texas – Condor Equity, a Dallas-based real estate equity and development firm led by Founder Gary Stokes and Co-Founder and Managing Partner Art Wilson, announced the launch of Arlington 8, a townhome project consisting of eight townhomes near the University of Texas at Arlington. Construction and project management for Arlington 8 will be led by Chris Keith, owner of CK Management Services, and Quincy Chambers, owner of Next Way Concepts.

SAN ANTONIO – Newmark arranged the sale of River House, a 261-unit multifamily asset at 122 Roy Smith Street in central San Antonio, to an undisclosed buyer. Matt Michelson and Patton Jones of Newmark represented the seller, San Antonio-based Hixon Properties. Located along the River Walk and adjacent to the Pearl/Broadway Corridor, River House was built in 2015 and was 95% occupied at the time of sale.

MANOR, Texas – Longhorn Steakhouse has ground-leased 1.76 acres in Shops at Grassdale, 12511 U.S. Hwy. 290 E., Manor, from Pilot & Legacy Opportunity Partner LLC. Josh Friedlander of NewQuest represented the landlord. Jeff Townsend of Rise Commercial Partners represented the tenant.

DALLAS – New leases were announced at The Sound at Cypress Waters, a mixed-use development in Dallas: Desert Rose Mediterranean (3,714-SF restaurant and 1,565-SF rooftop patio overlooking North Lake; Strong Pilates (3,031 SF), The Deviled Egg Company (1,000 SF), and Heights Wellness Spa (4,044 SF). With the new leases, only one final space remains to be leased, a 1,639-SF suite in the newest retail building, according to Billingsley Co.

GRAPEVINE, Texas – Hanley Investment Group Real Estate Advisors announced the sale of three newly constructed single-tenant drive-thru properties in the Dallas-Fort Worth metro area. All three properties were developed and sold by Tradecor, a private developer with offices in Dallas, Phoenix, and Tampa. Bill Asher and Jeff Lefko, in association with ParaSell, represented the seller in the following deals: Son of a Butcher Drive-Thru, a 2,389-SF restaurant at 480 W. State Highway 114 in Grapevine; Portillo’s Drive-Thru, a 6,250-SF restaurant at 460 W. State Highway 114 in Grapevine; and Son of a Butcher Drive-Thru, a 2,427-SF restaurant at 9649 Sage Meadow Trail in Fort Worth.

FORT WORTH – National mixed-use investor, developer, and operator Trademark Property Co. has broken ground on Westbend Residences, a 321-unit multifamily community at Collinsworth Street and South University Drive in Fort Worth’s University District. Completion is planned in Q1 2027. Situated on 3.5 acres along the Trinity Trails, the seven-story Westbend Residences will have ground-floor restaurant space. Trademark redeveloped the first phase of Westbend, including 281,000 SF of office and retail space, in 2016.

THE COLONY, Texas – SRS Real Estate Partners has been named the exclusive retail leasing agent for Grandscape, a mixed-use development spanning more than 400 acres in The Colony, Texas. Rose Meza, Michael Kaplan, and Karla Smith of SRS are leading the leasing campaign in collaboration with Jennifer Petrovich, Director of Leasing for NFM and Grandscape. Retail availability includes anchor and shop space, along with roughly 44 acres of land available for future development. Grandscape, an outdoor shopping, dining and entertainment destination, is anchored by NFM, Scheels, COSM, and PopStroke.

National

KANSAS CITY, Kansas – Tanger, an owner and operator of outlet and open-air retail shopping centers, acquired Legends Outlets, an approximately 690,000-SF open-air outlet center in Kansas City, Kansas. The property was acquired for approximately $130 million, including the assumption of a $115 million CMBS loan that matures in Nov. 2027. Legends is 93% occupied and has more than 100 stores, restaurants, and entertainment venues.

DENVER – NexGen Properties, a commercial real estate firm based in Greenwood Village, Colo., acquired Corporate 25, a three-building, multi-tenant office campus at 7200 South Alton Way in Centennial, Colo. in an all-cash transaction. Located within Denver’s southeast suburban submarket, the property contains 134,598 SF on 6.64 acres. Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller, San Francisco-based Graham Street Realty. Corporate 25 is 90% leased to more than 40 tenants. NexGen Properties retained Cushman & Wakefield’s team of Zach Williams, Nate Bradley, and Ryan Stout for the leasing assignment.

BOSTON – JLL Capital Markets has arranged the $83 million sale of the Mandarin Oriental Retail Collection, a 28,856-SF retail property in Boston’s Back Bay neighborhood. JLL represented the seller and procured the buyer, The Hennick Group. The Mandarin Oriental Retail Collection is located at 772 and 776-778 Boylston St. The shops are positioned at the base of the Mandarin Oriental Hotel. The jewel box retail condominium is 82.2% leased and anchored by Citizens Bank. Additional tenants include Frette, MiniLuxe, and Lunette Optic. Chris Angelone, Zach Nitsche, Sam Wiesman, and Anthony Cutone of JLL represented the seller.

KANSAS CITY, Kansas – Tanger acquired Legends Outlets, 690,000-SF open-air outlet center in Kansas City, Kansas, for approximately $130 million.

BOCA RATON, Fla. – Stockbridge Capital Group purchased Uptown Boca, a 194,927-SF grocery-anchored shopping center in Boca Raton, Fla. for $118.5 million. JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties, and Wheelock Street Capital. Uptown Boca is located at 9536-9704 Glades Road and is 100% leased to tenants including Whole Foods Market, Life Time Fitness, REI, HomeSense, and Sephora. JLL’s Danny Finkle, Jorge Portela, and Kim Flores handled the transaction.

ALBANY, N.Y. – Brightpath Management purchased the 78-key Fairfield Inn & Suites Albany Airport in Albany, N.Y. from DelMonte Hotel Group. Mayank Patel of Hunter Hotel Advisors brokered the sale.

ENGLEWOOD, Colo. – JLL’s Hotels & Hospitality Group completed the sale of The Inverness Denver, a Hilton Golf and Spa Resort, a 302-key full-service hotel in Englewood, Colorado, on behalf of Silverwest Hotels, the seller. Located at 200 Inverness Drive West, the property sits on 160 acres in the I-25 Southeast Metro Denver corridor, about 25 minutes south of Downtown Denver.

COLLIERVILLE, Tenn. – A Texas investor acquired the 131-room Courtyard Memphis Collierville in Collierville, Tenn., from Southern Hospitality. Tim Osborne of Hunter Hotel Advisors brokered the sale while Adeel Amin secured a $8.7 million bridge loan on behalf of the buyer.

Mark Your Calendar

CommGate will host its Economic Outlook –Wednesday, Oct. 15 from 3 to 6 p.m. at the Houston Country Club. Economist Ted C. Jones, PhD, will present an economic forecast examining trends that will shape the real estate market in the coming year. Following the presentation, connect at a networking social with beverages and hors d’oeuvres. Free for members of CommGate, CCIM, and SIOR. Non-members $50. For information: click here.

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with David Hightower

LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers

LISTEN: THE RALPH BIVINS PROJECT with Alex Kamkar of Bold Fox Development

LISTEN: THE RALPH BIVINS PROJECT with Brad McWhirter of Trahan Architects

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

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

LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers

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