Construction Starts On CityCentre Hotel: The Houston Deal Sheet

Construction is officially underway on a new 153-room hotel in West Houston. The $19M development of AC Hotel by Marriott CityCentre Houston is led by PA Hospitality. 

The six-story, 86K SF hotel at 10752 Town and Country Way will have a pool, bar, fitness center and meeting space. Delivery is slated for late 2027. 

“CityCentre has become one of Houston’s premier destinations to live, work, and gather,” a representative of PA Hospitality said in a news release. “We saw an opportunity to bring a hospitality product that complements the energy already here while meeting growing demand for high-quality accommodations in the area.”

The project team includes Anchor Construction as the general contractor, DLR Group as the architect, and Telios as the project's mechanical, electrical and plumbing engineer. 

PEOPLE

Transwestern snagged a debt and equity placement team from Walker & Dunlop to expand its capital markets platform. The group, co-led by Executive Managing Directors Tom Melody and Tom Fish, brings experience originating and managing capital solutions across all commercial real estate asset classes, including multifamily, industrial, retail, office, hospitality, healthcare and alternative property types.

In addition to Melody and Fish, Transwestern hired Executive Managing Director Paul House; Senior Vice Presidents John Melody, Wes Wallace and Drew Van Norman; Vice President Hallie Caspary; associate Ben Enos; and administrative assistant Tara Soyal.

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NewQuest named Matt Parsons executive vice president and managing director of tenant representation, a newly created role for the development, asset management and brokerage services firm. Parsons will recruit, mentor and manage a team of brokers in Texas while continuing to serve clients directly as a senior producer.

Parsons has 20 years of experience, most recently as executive vice president of JLL. 

SALES

Eastham Capital announced the disposition of Eagle Crest Apartments, a 200-unit multifamily community at 5303 Atascocita Road in Humble.

The property was acquired in 2017 by Eastham Capital Fund V as a joint venture between Mosaic Residential and Eastham Capital. At the time of disposition, Eagle Crest Apartments was about 95% occupied. In-place rents increased from $936 at the time of acquisition to $1,228. 

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Partners Real Estate announced the completion of three industrial sales across the Greater Houston area, totaling 113K SF. The properties are:

• The 43K SF 4725 Lawndale St. in La Marque. Wyatt Huff represented the seller. Hunter Stockard represented the buyer.
• The 56K SF 18913 Phillip Way in New Caney. The transaction was structured as a 10-year triple-net sale-leaseback with New Caney Beverage. Huff, Stockard, Griff Bandy and Ryan Osborn represented the seller.
• The 15K SF warehouse at 5414 Larkin St. in Houston. Huff and Stockard represented the seller.

LEASES

First Houston leased a fully climate-controlled 47K SF manufacturing facility at 12506 Taylor Road in a partnership with the landlord, Level Capital. Patrick McKiernan, James Mashni and Jared Edelman brokered the acquisition and lease. 

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JLL and EastGroup Properties announced that Grand West Crossing 2 reached full occupancy with a lease by Cooler Master Corp., which occupies the entire 97K SF rear-load building.

Grand West Crossing 1 has remained fully occupied since construction and lease-up were completed in 2023, and now EastGroup has broken ground on two additional buildings as part of Phase 3 of the Class-A industrial park.

JLL’s Richard Quarles, Jarret Venghaus, Geoff Perrott and Eliza Klein are handling marketing and leasing at Grand West Crossing on behalf of EastGroup.

Grand West Crossing Buildings 3 and 4 will span 59K SF and 69K SF, respectively. Grand West Crossing is in Houston’s West submarket along the Grand Parkway. 

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Mangan Inc. renewed its lease and expanded its footprint from about 23K SF to about 29K SF at the Offices at Kensington at 1650 Highway 6 in Sugar Land. The automation and engineering firm is now the largest tenant in the building and has enhanced signage to increase visibility along Highway 6.

Jon Lee and Claire Douthit with CBRE represented the tenant.

CONSTRUCTION AND DEVELOPMENT

Urban Logistics Realty acquired two North Houston sites for the development of Urban NXS Fallbrook and Urban NXS West, two industrial projects slated to break ground this summer and deliver in the second quarter of 2027. 

Urban NXS Fallbrook will be a 182K SF cross-dock industrial building adjacent to Veterans Memorial Drive. Urban NXS West will be a 259K SF front-load industrial building within a mile of Beltway 8 and Interstate 45 in North Houston. 

Urban Logistics Realty and Principal Asset Management formed a joint venture to develop the two projects, with First United Bank & Trust providing the construction financing. Additional project partners include KBC Advisors as the leasing agent, Powers Brown Architecture as the architect and Langan as the engineer.

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Holt Lunsford Commercial Investments completed Par 1960, a two-building Class-A industrial project totaling 254K SF near FM 1960 and Jones Road in Northwest Houston. The project was delivered fully vacant and is ready for immediate occupancy.

The front-load Building 1 totals 204K SF, and the rear-load Building 2 totals 50K SF. The Cushman & Wakefield team of Beau Kaleel, Michael Foreman and Brooke Swerdlow is handling leasing.

THIS AND THAT

Noël Furniture, an independently owned and operated furniture store with a 38K SF showroom and 18K SF warehouse at 2727 Southwest Freeway, is closing. The business plans to liquidate after 50 years and has a going-out-of-business sale starting Friday.

The property is for sale, according to a JLL listing.