New High-Rise Apartments Open In Montrose: The Houston Deal Sheet
Fairfield Residential and KTGY Dallas announced the opening of 1010 Waugh, a 340-unit multifamily high-rise that replaces a single-story commercial building in Houston’s Montrose neighborhood.
The concrete-and-steel building has 14 stories, with the ground floor housing a lobby, coworking space and a cyclist shop with storefront windows. The 517-space parking garage occupies the next four floors.
The pool deck and additional resident amenities sit just above, while the building splits into two residential wings, leaving the central space open for outdoor areas, balconies and corner units.
The development was Fairfield Residential's 10th Houston venture and was completed in partnership with KTGY, a national design firm.
PEOPLE
Baker Katz promoted John Frazier and Lunden McGill to principals. McGill and Frazier will help guide the firm's strategic direction while continuing to advise retailers throughout the Houston market.
McGill and Frazier have helped expand the firm's tenant representation platform. They have 14 years of experience and nearly a decade at Baker Katz, respectively.
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Oxford Partners hired Trey Martin as executive vice president. Martin brings 20 years of commercial real estate experience and has closed more than $900M of transactions.
He spent his career at Partners Real Estate, where he represented tenants and buyers. His background spans lease negotiations, site selection, acquisitions, investment property transactions and land deals.
Oxford Partners represents tenants and buyers exclusively.
SALES
Bridge Logistics Properties acquired Twinwood Distribution Center III, a 767K SF distribution facility in Brookshire. At 2193 Discovery Hills Parkway near Interstate 10, the property was built in 2024 and is fully leased through spring 2028.
Trent Agnew, Charlie Strauss, Lance Young and Brooke Petzold of JLL facilitated the acquisition.
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EVO Entertainment acquired the former Xscape Theatre property at 26616 FM 1093 in the Katy-Fulshear market. The 55K SF theater building will be expanded into a 70K SF entertainment destination with a renovated cinema, dining, 35K SF of family entertainment space with bowling, arcade games, laser tag and climbing walls, along with dedicated event space.
Newcor’s Rob Banzhaf and Alexander Rizzotti represented the seller. The redeveloped venue is scheduled to open in summer 2027.
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BGO acquired Heritage West, a newly constructed industrial portfolio totaling 300K SF in Katy. The portfolio, majority owned by BGO, was acquired through a joint venture with Harbor Capital, an Austin-based investor and operator.
Completed in 2026, the portfolio includes two front-load industrial buildings: Building 2, totaling 90K SF, and Building 3, totaling 209K SF. Heritage West was 100% preleased at closing.
Seyfarth Shaw LLP acted as legal counsel for BGO in the off-market transaction.
LEASES
Burlington leased 25K SF in The Grand at 249 at the intersection of the Grand Parkway/State Highway 99 and State Highway 249 in Tomball from NewQuest. Andrew Alvis and David Meyers of NewQuest represented the landlord. Greg Stackhouse of New Regional Planning Inc. represented the tenant.
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Lindenmeyr Munroe leased 100K SF in Building 3 at Patriot Business Park, a newly developed three-building industrial campus at 10326–10330 Veterans Memorial Drive in North Houston. The distributor of printing and packaging materials will utilize the space to support growth.
Stream Realty Partners announced the lease on behalf of Standard Real Estate Investments and Investment & Development Ventures, which delivered the park in the first quarter of 2026. Stream’s Tyler Maner, Natalie Gilbert and Jeremy Lumbreras handle the leasing efforts on behalf of ownership. Jim Foreman and Sean Duffy of Cushman & Wakefield represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Frank Liu Jr. Academy of Music and Arts, a tuition-free public charter school in Houston’s East End, will open to students in fall 2027. The school will be within the Folgers Coffee Plant at 235 N. Norwood St., a 255K SF structure built in the late 1930s that was redeveloped by Lovett Commercial, the Houston-based commercial real estate company owned by Frank Liu.
The historic building is being adapted into a three-story “learning landscape.” In addition to FLAMA, Lovett Commercial is reimagining the plant as a part of an development dubbed Fabrica, linking art, music and commerce, with additional details still to be announced.
Office for Metropolitan Architecture is leading the project, with support from Houston-based RDLR Architects.
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Clay Development & Construction has broken ground on 650K SF of industrial product in three locations.
The largest project comprises two buildings totaling 552K SF at Uplands Twinwood Business Park in Brookshire. Construction on Twinwood Distribution Center IV and V, at 2573 and 2579 Discovery Hills Parkway, respectively, should be completed in the first quarter of 2027.
John Ferruzzo, Woody Hillyer and William Carpenter of KBC Advisors, in addition to Copeland Rhea of Clay Development & Construction, handle leasing of the buildings.
Clay Development & Construction also broke ground on Kennedy Greens Distribution Center V, a 63K SF distribution center on 4.2 acres at 13740 John F Kennedy Blvd. in North Houston. With this spec project, the 145-acre Kennedy Greens South Business Park will be fully developed with 1.7M SF of industrial buildings.
Mark Nicholas, Will Clay and Angela Watford of JLL handle leasing of Kennedy Greens Distribution Center V.
Finally, the developer began construction on a 32K SF crane-ready manufacturing building at 29910 Medline Lane in Pederson West Business Park in Waller County. The new building will be completed in the first quarter of 2027.
Rhea and Catherine Chapman of Clay Development & Construction handle the building's leasing.
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MetroNational and Radom Capital announced five new tenants for Greenside, the adaptive reuse development of 35K SF of former warehouse space in Memorial. The developers have completed shell construction on the buildings, and tenants are building out their spaces ahead of fourth-quarter 2026 openings.
The tenants include:
- Tifa Chocolate & Gelato, a dessert café, leased 1,121 SF.
- Epic Cycles, a cycling retailer and service shop, leased 1,974 SF. It will relocate from CityCentre.
- Swish Dental leased 3,132 SF.
- Original ChopShop will open in July within the 10100 office building, part of the Greenside development.
- Merit Coffee Co. leased 1,743 SF.
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Two affiliates of Virgata Property Co. bought 7 acres at the northwest corner of Edgewood Avenue and Langston Boulevard in Mont Belvieu for the development of a 50K SF two-story medical facility. It will be predominantly occupied by Memorial Hermann Health System and served by an adjacent heliport. A future phase is planned for the abutting land.
Greg Shaw with Shaw Commercial Properties represented the seller, the city of Mont Belvieu, and David Boone with Virgata represented the buyer.
FINANCING
Tradition Senior Living recapitalized its five-property senior housing portfolio in Texas through the formation of a joint venture with Kayne Anderson Real Estate, the real estate private equity arm of Kayne Anderson. The properties include The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston.
Newmark’s Chad Lavender, Ryan Maconachy, Sarah Anderson, Mills Poynor and Ben McElroy secured the financing on behalf of the joint venture.
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Cantera at Towne Lake, a 366-unit garden-style multifamily community in Cypress, secured a $52M cash-out refinance. Newmark’s Vince Punzi and Lowell Takahashi arranged the financing through a debt fund on behalf of the borrower, The Bascom Group. The loan was structured to include $4.4M in capital expenditure reserves earmarked for a new round of renovations for the property, which was built in 2008.
