RNR Real Estate Briefs – Texas & more

RNR Real Estate Briefs – (Realty News Report) – HOUSTON – Dhanani Private Equity Group acquired Sugar Park Plaza, a 95,032-SF neighborhood retail center at 11824-11930 Wilcrest Drive. John Indelli and Ryan West of JLL Capital Markets represented the seller, and procured the buyer in an off-market transaction. Michael King and Michael Johnson JLL arranged the five-year acquisition financing. The center sits on a 8.7-acre site at a high-traffic intersection between the Stafford and Sugar Land communities. The property is fully leased to 16 tenants, including Marshalls, Aga’s Restaurant and Catering, Sketchers, Chase Bank, ExxonMobil, and Magnum Staffing.

BAYTOWN, Texas – Architectural Surfaces Group signed a long-term lease for 101,968-SF for a new Houston regional distribution center in Building 2 of the GrandPort 99 Business Park in Baytown. The LEED-certified, Class A space is at the intersection of Kilgore Parkway and FM 565 with immediate access to Grand Parkway 99 and I-10. Travis Land of Partners Real Estate represented the landlord, a partnership between Alto Real Estate Funds and IDV. Colton Hector and Ed Frantz of CBRE represented the tenant.

HOUSTON – Balani Custom Clothiers has opened a new showroom at 4310 Westheimer #230 near River Oaks. The 3,200-SF location specializes in men’s clothing with options for custom-tailored business wear, formal wear, casual clothing, shoes and accessories. A grand opening will be held on Oct. 15 from 5:30-9 p.m.

HOUSTON – Perennial Environmental leased 8,021 SF of office space at 13100 Northwest Freeway. J.W. “Jay” Wall III of Moody Rambin represented the tenant. Carrie Powledge of NW Crossing Management represented the property owner.

HOUSTON – CBRE helped secure permanent financing on behalf of Pinecroft Realty for an 11-asset, medical outpatient portfolio in the Dallas and Houston areas. Zack Holderman and Jesse Greshin of CBRE lined up the refinancing along with Chris Bodnar, Brannan Knott, Mindy Berman, and Cole Reethof. The 258,000-SF is 81% leased. The buildings contain 37 tenants, including St. Luke’s Health System, Texas Children’s Hospital, and several regional physician groups and local practices.

HOUSTON – Cushman & Wakefield arranged $4.5 million in refinancing for Two Harbor Square, a 26,670-SF medical office building at 3033 Marina Bay Drive in Houston. The financing, arranged on behalf of owner Creative Equities, was provided by Amegy Bank. Cushman & Wakefield’s Tyler Morss advised the borrower in the transaction.

MISSOURI CITY, Texas – Toll Brothers has broken ground on Regency at Sienna, a community for age 55 and up in Missouri City’s Sienna master planned community. Homes on expansive lots near Sienna Parkway and Regency Lake Drive will be priced from the upper $400,000s to mid-$600,000s. Amenities will include a lake side clubhouse, pool, sports courts, and an onsite lifestyle director. Toll Brothers has been expanding its offerings for active adults.

HOUSTON – Premium Eagle Logistics leased 14,880 SF of office and warehouse space at 16548 Air Center Blvd. John Hornbuckle of Cypressbrook Co. represented the tenant. Val Costello of Brummett and Co. represented the landlord, Transcentral Associates.

RICHMOND, Texas – Cinco RE Invest purchased 1.23 acres of land on Lakefair Drive. in Richmond. George Montes of Cypressbrook Co. represented the buyer. John Erck, Reed Vestal, and Quade Towers of Junction Commercial Real Estate represented the seller, Advanced Periodontics and Implants of Katy.

MISSOURI CITY, Texas – Freddy’s Frozen Custard & Steakburgers has ground-leased a 1.17-acre retail tract in Fort Bend Town Center Phase II, located at the intersection of TX 6 and Fort Bend Parkway, Missouri City, from NewQuest. Andrew Alvis and Bob Conwell of NewQuest represented the landlord. Christian McClure and Lane Zieben of the Retail Connection represented the tenant.

HOUSTON – El Tiempo Cantina is now open at 2360 S. Loop W. near Kirby and Loop 610. The Laurenzo family, led by Roland and Domenic, operates multiple El Tiempo sites across Houston while preserving the recipes and service standards established by Mama Ninfa Laurenzo more than 50 years ago. Specialties include fajitas, house‑made tortillas, and margaritas.

TOMBALL – Club Pilates has leased 1,750 SF of retail space in Grand at 249, located at the intersection of TX 249 and Grand Parkway, Tomball, from NewQuest. Andrew Alvis of NewQuest represented the landlord. Lane Zieben of the Retail Connection represented the tenant.

HOUSTON – Ryan McCullough of Partners Real Estate represented the seller of a 10,623-SF ambulatory surgery center at 2813 Smith Ranch Road in Houston.

KATY – Hello Sugar leased 1,500 SF of retail space in Grand Crossing, located at Interstate 10 and TX 99, Katy, from HQPC Grand Crossing Investment. Josh Friedlander of NewQuest represented the landlord. Ashley Miller of Morrow Hill represented the tenant.

Texas

DALLAS – EY renewed its office lease at One Victory Park, aa 17-story, 435,606-SFoffice building in the Uptown/Turtle Creek area of Dallas. Matt Schendle and Carrie Halbrooks of Cushman & Wakefield represented the landlord, Clarion Partners. Glenn Dyke, Phil Puckett, and Harlan Davis of CBRE represented EY.

FARMERS BRANCH, Texas – SWBC Real Estate broke ground on The Royalton at Mercer Crossing, a 500-unit multi-family development on nine acres at I-35 and I-635 in Farmers Branch. Phase one will consist of 262 unit and phase two will add 238 units. The SWBC RE Fund is participating in the investment alongside International Capital. The project team includes Cross Architects, engineering firm John R. McAdams Co. and general contractor Carleton Cos.

SAN ANTONIO – Kairoi Residential purchased The Jax, a 322-unit garden-style multifamily community at 12222 Vance Jackson Rd. in San Antonio. Robert Arzola, Robert Wooten, and Ryan McBride of JLL Capital Markets represented the seller.

DALLAS – Hunter Hotel Advisors announced the sale of two Marriott-branded hotels in Dallas: The 116-room Fairfield Inn & Suites Dallas Medical/Market Center and the 184-room Courtyard Dallas Medical/Market Center. Both transactions were completed on behalf of the same institutional seller, with two local, affiliated buyer groups acquiring the assets. Hunter’s Kami Burnette and Mason McDavid brokered the sales.

ABILENE, Texas – Eastman Residential acquired The Arch at Abilene, a 192-unit multifamily community at 2702 N. Judge Ely Blvd. in Abilene. Scott Aiese and Director Alex Staikos of JLL Capital Markets arranged $14.1 million in acquisition financing. The property benefits from its proximity to the first Stargate project – an over $15 billion JV between Oracle, OpenAI, SoftBank, and MGX to advance U.S. AI infrastructure.

FORT WORTH – Direct Investment Ltd. has sold a 68,080-SF industrial building on 3.9 acres at 2500-2536 NE Loop 820, Fort Worth, to CanTex RE Holdings. Todd Lambeth and Richard Hitz of Bradford Commercial Real Estate Services represented the seller.

PORT ARTHUR, Texas – War Horse Development Corp. sold 24.31 acres at Medical Center Boulevard and FM 365 to Port Arthur Development LLC. Glenn Dickerson of NewQuest represented the seller. David Meyers of NewQuest represented the buyer.

ANNA, Texas – Big V Property Group and The Seitz Group have teamed up to build the first of two open-air shopping centers totaling nearly 950,000 SF in in Anna, Texas, the companies announced. The Collin County project is 70% leased. The first center, anchored by Kroger, will be Rosamond Crossing (Southeast), with 175,300 SF. Businesses will include Bank of America, Chase, and McDonald’s. Financing includes Equity Street Capital, and a construction loan from Valley Bank. Opening is planned for April 2027.

NORTH RICHLAND HILLS, Texas – Stretch Zone leased 2,849 SF of retail space in North Tarrant Marketplace, located at the intersection of North Tarrant Parkway and Precinct Line Road, North Richland Hills, from NewQuest. Josh Friedlander and Anders Fry of NewQuest represented the landlord.

Nation

ATLANTA – The law firm Reed Smith signed a 12-year lease for 34,065 SF in Ten Twenty Spring in Midtown Atlanta’s Spring Quarter mixed-use development. Cindy Davis is Office Managing Partner for the new Atlanta office. Developed in partnership by Portman and Perform Properties, Ten Twenty Spring is Atlanta’s newest office tower.

GAITHERSBURG, Md. – DRB Group signed a 56,409-SF lease to relocate its corporate headquarters to The Summit at Washingtonian, a 193,199-SF building in Gaithersburg, Md. Keith Foery, Phil McCarthy, and Guy Copperthite of Transwestern Real Estate Services represented the property owner, Principal Asset Management. DRB Group, a national homebuilder operating in 14 states in partnership with Sumitomo Forestry America, was represented by Dan Falls of CBRE.

MIAMI LAKES, Fla. – Dalfen Industrial acquired a 192,000-SF industrial facility at 5770 Miami Lakes Drive in Miami Lakes, Fla. The deal was sourced through a long-standing relationship with CBRE. The property is leased by Mr. Glass Doors and Windows.

NAPLES, Fla. – CrownPoint Partners announced the sale of a newly constructed, 23,279-SF Tractor Supply Co. property at Wilson Boulevard and Golden Gate Boulevard in Naples, Fla. for $11.5 million. Managing Partners Shannon Bona and Julius Swolsky of CrownPoint Partners represented the seller, a prominent developer based in the Southeast. The buyer, a private 1031 exchange investor from the Midwest, was represented by David Weinberg of Marcus & Millichap.

SAN DIEGO – JLL Capital Markets arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative industrial development in San Diego’s Otay Mesa submarket. A JV between Elevation Land Co. and Crow Holdings Capital secured a three-year, floating-rate loan through New York Life Real Estate Investors for the development, which sits on 119 acres along Siempre Viva Road. Phase I will deliver 612,240 SF across four buildings The park will encompass nine buildings totaling 1.78 million SF upon completion.

LONDON – Ralph Lauren will expand its hospitality portfolio with the opening of a new restaurant at 1 Hanover Square in London in 2028. The Polo Bar Ralph Lauren will showcase the brand’s timeless elegance with a refined, yet welcoming dining experience. The Polo Bar opened in New York in 2015.

Mark Your Calendar

Central Houston will present the State of Downtown 2025 on Oct. 30 from Noon to 1:30 p.m. Some 1,000 business and community leaders will focus on progress in the heart of the city. NBC Sports soccer analyst Tim Howard, a Hall of Fame goalkeeper, will deliver remarks as Houston prepares to host the 2026 Fifa World Cup Games. The State of Downtown event will be held at the 713 Music Hall at the historic POST Houston, 411 Franklin St. For information: click here.

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

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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