Recent activity across the Texas commercial real estate market includes new leadership appointments, fresh construction financing and notable investment transactions spanning office and industrial assets.
Transwestern has advanced Brooks Creech to managing director of its Healthcare Services platform. In this expanded role, Creech will oversee healthcare brokerage operations while continuing to lead strategic advisory and transaction services for key healthcare clients. He heads Transwestern’s Healthcare Services transaction team that supports Baylor Scott & White Health, which is described as the largest nonprofit health system in Texas.
XSpace Group has secured a construction loan to support its newest project in Houston. The company closed on a $29 million loan that will fund development and allow XSpace to accelerate construction and delivery of its Houston location, which is part of its broader national expansion strategy. The construction financing was arranged by Institutional Property Advisors, with Adam Mengacci, Matt Polci and Sunny Sajnani involved in the transaction.
In The Woodlands, Texas-based The Signorelli Company has elevated Jeff Dewese to president of Signorelli Development Company’s Land Division. Dewese will oversee all aspects of the division, including land development, strategic planning, land acquisition, project and budget management, and team development for the company’s current and future master-planned communities across Texas. He previously served as senior vice president of the Land Division.
On the investment sales side, Partners Real Estate has arranged the purchase of 6500 Greenville Avenue, a seven-story office building located near the intersection of Lovers Lane and Greenville Avenue. Partners professionals Justin Utay and Jeremy Brubaker, both from the firm’s Office Tenant Representation group, represented the buyer in the transaction. The 114,525-square-foot office asset is positioned to give tenants access to I-75, also known as North Central Expressway, which is highlighted as a strategic locational advantage for users.
In Houston’s northwest submarket, Triten Real Estate Partners has completed the disposition of Fairbanks Northwest Distribution Center. The Houston-based national real estate investment, development and operating firm sold the two-building, Class A distribution complex to an Ares Real Estate fund. The Triten-developed asset totals approximately 358,000 square feet and is reported to be 80% leased at the time of sale. The transaction underscores ongoing investor interest in institutional-grade industrial product in Houston, particularly in established logistics submarkets.
