Leadership, investment sales, leasing and development activity are shaping a diverse week for commercial real estate across several Texas markets. Centennial announced that long-time founder and CEO Steven Levin will retire effective June 30, with President Paul Kurzawa set to assume the CEO role. Levin, who will continue as an advisor for the next 12 months, is also keeping Centennial in place as manager of his portfolio properties, including The Shops at Willow Bend, to support a smooth transition.
In Houston, CBRE facilitated the sale of Bellaire Medical Plaza, a 57,988-square-foot medical outpatient building at 5420 Dashwood Drive. The property was acquired by Edloe Ventures. CBRE U.S. Healthcare Capital Markets professionals Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin partnered with Brandy Bellow Spinks and Max Lozmack of CBRE’s Houston Healthcare Leasing team, along with Scott Carter, to serve as exclusive advisors to the seller.
On the industrial side, Avison Young negotiated a 10-year, 61,861-square-foot lease on behalf of Flow Control Group at 3550 N. Highway 161 Building 2 in Grand Prairie, Texas. Avison Young’s Mike B. Kennedy and Chet Hall represented Flow Control Group, a major North American distributor and service provider. The landlord, Molto Properties, was represented by Kacy Jones, Steve Koldyke and Brian Gilchrist of CBRE. Completed in 2024, the space will function as both an assembly and warehouse facility for the tenant, with full move-in targeted for July 1, 2026.
Retail investment activity also continued in the Houston region. JLL Capital Markets arranged the sale of Firethorne Plaza, a strip retail center located at the gateway to one of Katy, Texas’ most sought-after master-planned communities. JLL represented the seller in the transaction, while the buyer was Phillips Edison & Company. The 29,986-square-foot center is fully leased to 14 tenants, featuring a mix of national, regional and local operators.
In the Austin metropolitan area, Legacy MCS, a Texas-based multifamily and build-to-rent general contractor, has completed two major build-to-rent communities in Hutto, Texas. The deliveries extend Legacy MCS’s footprint in what is described as one of the fastest-growing corridors in the Austin metro, underscoring ongoing demand for purpose-built rental housing in that region.
