Peak Development Partners sold a 14-acre parcel of land at the corner of El Dorado Parkway and Stonebridge Drive in McKinney, Texas, to SLX Development for an undisclosed amount.

SLX Development is in the planning stages to develop a mixed-use property on the site.   

Peak Development Partners originally acquired a total of 18 acres in October 2023.  The company will break ground in the second quarter of 2024 on four retail pad sites on the remaining four acres which will feature a restaurant, auto service, car wash and other uses.  These pads are scheduled to be open by year end or Q1 2025.

This parcel is located at a signalized intersection across the street from McKinney Methodist Hospital with more than 350 employees as well as a new H-E-B anchored retail center.  The area has also experienced recent residential and medical growth with several new projects on the horizon.

Peak Development Partners represented itself in the sale.  SLX Development was represented by Evan English and Tim McNutt of DBA Real Estate.

Grocery stores faced the same challenge that all retailers faced in 2023: Customers struggling with economic uncertainty and persistent inflation were likely to spend less money, even on groceries.

Grocers also faced — and will continue to face — increasing competition from restaurants and will continue to deal with rising food prices in 2024.

Despite these challenges? The grocery business notched yet another strong year in 2023, according to JLL‘s 2024 Grocery Report.

The reason for this success? JLL credits the willingness of grocers to adapt. As JLL reports, grocers continue to expand their budget-cost private-label brand offerings. Others are boosting their online delivery services and curbside pick-up offerings. The most successful grocers undersand the needs of their customers and strive to meet them.

As JLL says, it’s about personal connections: Those grocers who will stay relevant and remain competitive will be those that establish personal connections with their consumers and continue to innovate in response to changing consumer preferences.

Here’s an interesting stat, though: Consumer spending at grocery stores rose 2.6% in 2023 when compared to 2022. But during this same time, consumer spending on dining out rose a much higher 11.7%.

As JLL says, grocery store spending outpaced dining out spending in March of 2020, when the country first locked down in response to the COVID-19 pandemic. But as the economy slowly began to reopen, consumers returned to dining outt. Dining out spending at restaurants and bars would surpass grocery spending starting again in March of 2021.

Which grocery stores are growing quickly? Aldi leads the pack. JLL reported that Aldi opened more new stores than any other grocer in 2023, opening 109 new U.S. locations. Publix came in second with 38 new locations, while Sprouts opened 30 and Grocery Outlet 29.

Aldi’s new stores last year totaled nearly 2.5 million square feet of new space, a 32.3% increase from 2022, according to JLL’s research.

Publix with its new additions added about 1.9 million square feet of grocery space in 2023.

Sprouts had a particularly good year in 2023. JLL reports Sprouts 30 store openings in 2023 was an 87.5% increase from 2022. Sprouts last year opened its 400th store, this one in Haddon Township, New Jersey. Sprouts plans to expand its number of stores by 10% year-over-year as part of its five-year expansion plan.

JLLCapital Markets announced today that it has closed the sale of River Oaks District, a landmark, 663,408-square-foot, luxury mixed-use asset located in Houston, Texas.

The property includes 302,668 square feet of luxury retail, 279 premier apartment units and 67,060 square feet of jewel-box office space.

JLL represented the seller in this transaction and procured the buyer, Fertitta Entertainment, Inc.

The retail portion of River Oaks District is leased to luxury, and modern contemporary brands with a vibrant mix of food and beverage and service-oriented tenancy. Retailers include Hermes, Cartier, Dior, Harry Winston, Van Cleef & Arpels, Brunello Cucinelli and Balmain, as well as Le Colonial, Toulouse, Bari, Steak48, Little Hen, Equinox and IPIC.

The five-story Grey House Apartments serves as the upscale multi-housing component, offering units with wood flooring, stainless steel appliances, quartz countertops, custom European cabinetry, nine-foot ceilings and floor-to-ceiling windows. The property also offers residents resort-style pools and spas, clubhouses with modern décor, a full-service onsite concierge, an elegant screening room, conference rooms and a state-of-the-art fitness facility.

Situated at 4444 Westheimer Road in the heart of Houston, River Oaks District’s location provides visitors and residents connectivity throughout the Houston MSA with immediate access to Interstate 610 (263,000 VPD).  In addition, the property benefits from an affluent and robust population with an average household income of $158,600 and a population of over 200,000 within a three-mile radius.

The JLL Capital Markets team was led by Retail Group Co-Leader and Senior Managing Director Barry Brown. Brown, alongside Director Erin Lazarus, Senior Managing Directors Colby Mueck, Ryan West and Jeff Hollinden and Managing Director Dustin Selzer, advised in the transaction.

The construction industry has long been a male-dominated field, but the tides are changing as an increasing number of women are finding rewarding careers in construction. This shift is driven by a multitude of factors. From abundant opportunities to low barriers of entry and a collaborative work environment, women are finding their place in an industry that is facing unprecedented demand for employees of all backgrounds.

Kristin Kalous, Market Leader, Alberici

1. Surge in Demand Creates More Opportunities for Women

The U.S. construction industry needs to hire an additional 501,000 workers in 2024 and 454,000 in 2025, on top of normal hiring, to meet industry demand¹.  This hiring surge is driven by record construction volumes, the 2021 Bipartisan Infrastructure Law, which allocated $1.2 trillion for projects including rebuilding roads, bridges, and other civil work such as locks and dams, and the Inflation Reduction Act of 2022 that provided over $360 billion for manufacturing and renewable energy projects.

The Bureau of Labor Statistics estimates that women make up only 11% of the construction workforce, and the industry must do a better job of welcoming women. At Alberici, we are embracing a diverse workforce by enhancing our benefits like paid maternity leave and developing employee resource groups that support and empower women on our team. We know that tapping into a broader talent pool allows us to meet the growing demand for a skilled workforce while providing our clients with high performing teams that reflect the communities they serve.

2. On-the-Job Training

An appealing aspect of a construction career is the low barrier to entry. At a time when many are looking for good-paying jobs without the debt that can come with a four-year degree, the construction industry often provides on-the-job training, allowing newcomers to earn a wage while learning their craft.

3. Collaborative Work Environment

Construction projects are inherently collaborative endeavors, requiring teamwork and effective communication. Team collaboration is greatly improved by the presence of women according to the American Psychological Association. In their research, they found that teams with more women exhibited better problem-solving and innovation.

The collaborative nature of construction work naturally fosters mentorships. Some of my most effective mentors empowered me to share my views and gain experience in areas that were critical to my professional development. I joined the industry at a time when there were few women mentors but there are a growing number of women’s groups and professional organizations such as CREW that provide support, networking and encouragement to women.

4. Financial Security – Great Pay and Benefits

Traditionally, women-dominated careers, such as teaching and childcare, have been associated with lower pay. In contrast, the construction industry offers competitive wages and attractive benefits. The financial security provided by a career in construction extends beyond competitive salaries. Alberici offers comprehensive benefits packages, including healthcare, retirement plans, and other perks. This financial stability empowers women to pursue rewarding and lucrative careers, challenging the gender pay gap that persists in other industries.

5. A Career That Makes an Impact

I can’t count how many times I’ve pointed out a building to my daughters and said, “We built that!” How many jobs give us tangible evidence of our hard work that we can proudly point out to our family and friends?

Whether it’s constructing hospitals, water treatment plants, or solar fields, women in construction play a crucial role in building the critical structures that improve lives and strengthen communities. This sense of accomplishment makes a career in construction fulfilling on many levels.

Ready to Get Started?

If you’re considering a career in construction, many resources are available to help you get started. Careers at Alberici are flexible and allow employees to explore a variety of interests and career paths across multiple functional areas. Our project engineers have followed career paths as varied as preconstruction, virtual design and construction (VDC), safety, quality or marketing and business development.

Those interested in trades also have a number of resources available as well. Local trade schools, union halls, or community colleges that offer training in construction-related fields. Here are some links to get you started:

• Alberici Careers Page
• Alberici Craft Construction Careers
• Hillsdale Fabricators
• MOKAN Pre-Apprenticeship Program
• Missouri Works Initiative
• Saint Louis Construction Cooperative

As Market Leader for Alberici’s commercial and healthcare markets, Kristin Kalous is responsible for overall operations, client satisfaction, and the financial success of her business unit. She drives strategy and builds relationships with clients and trade partners to lead successful pursuits.

Since joining Alberici 17 years ago, Kristin has steadily advanced through various roles including Sr. Project Manager and served as Director of Project Development prior to assuming her current role. Her work experience includes projects such as SSM Health Saint Louis University Hospital, St. Louis CITY SC’s CITYPARK Stadium and Downtown West Campus, the Missouri Botanical Garden’s new Jack C. Taylor Visitor Center and Mercy Health’s Center for Performance Medicine.

In the face of Houston’s challenging commercial real estate market conditions, entrepreneur Eduardo Morales, chief executive officer of Mexcor International and Morales Capital Group, has acquired the 2.3-million-square-foot former HPE/Compaq Computer Campus in Houston.

Morales envisions the newly rebranded Viva Center as, “a transformative tech hub that seamlessly blends Houston’s rich history with futuristic innovations. With a focus on integrating cutting-edge infrastructure and next-gen application platforms, Viva Center aims to lead the charge in shaping Houston’s technological landscape for years to come.”

Brandi Sikes and Liz Westcott, both of SVN | J. Beard Real Estate – Greater Houston, have been appointed to lease the office buildings at Viva Center. Recently, Sikes and Westcott facilitated a 54,247-square-foot lease on behalf of Morales Capital Group. The tenant, SynergenX, was represented by Chris Sacco of Lumicre.

At the forefront of the Viva Center revitalization is Freddy Vaca, a dynamic tech entrepreneur based in Dallas. Morales and Vaca have teamed up to found VivaVerse Solutions, a pioneering venture specializing in cutting-edge, high-density, immersion-cooling data center solutions aimed at catering to the needs of hyperscalers.

Strategically located on SH 249 between Beltway 8 and the Grand Parkway, Viva Center offers 1.3 million square feet of industrial space, one million retail square feet of office and tech lab space, and two million square feet of parking garages.

The campus features a host of amenities designed to support its vibrant community of innovators. These include versatile conference facilities, 6,000-plus garage parking spaces with climate-controlled skywalks, a full-service cafeteria, a fitness center, and an outdoor pavilion. Hike and bike trails connect to the adjacent 80-acre Kickerillo-Mischer Preserve. Morales invites the community to join Viva Center’s transformative journey, encouraging collaboration and the exploration of synergistic ideas to drive innovation forward.

Hines has unveiled plans to deliver two new Class-A self-storage facilities, Custer Self-Storage in Frisco, Texas, and Jupiter Self-Storage in Garland, Texas, later this year.

Both state-of-the-art, multi-level facilities will feature masonry exterior, climate-controlled environments, and are designed to integrate seamlessly with the neighborhoods that they will serve. The addition of these two facilities will expand Hines’ portfolio in the Dallas-Fort Worth area to a total of 16 self-storage locations.

Custer Self-Storage in Frisco is a two-story building offering 76,675 net rentable square feet and 709 climate-controlled units. Additional features include drive-up units, 19 boat/RV spaces, oversized covered loading zones, and state of the art security. Located on a 4.6-acre site in the Shops at Custer Bridges at the major intersection of Custer Road and Sam Rayburn Tollway, the facility is ideally positioned to serve the suburban home growth in the area, including the neighboring Hunter’s Creek HOA and several high-end residential communities. Hines worked extensively with residents, a water municipality, and the City of Frisco for almost a year to secure a Special Use Permit to build the facility.

Jupiter Self-Storage in Garland consists of two buildings, each with three stories, offering 90,650 net rentable square feet of 100% climate-controlled storage space. The design features state of the art security, masonry exterior, and is located on a 2.5-acre site at the major intersection of Jupiter Road and Buckingham Road, adjacent to Home Depot, thus catering to the needs of this urban corridor.  Hines worked with residents and the City of Garland to secure a Special Use Permit to build the facility.