Marcus & Millichap closed the sale of Fossil Creek at Alta Mesa, an 11,228-square-foot, multi-tenant retail center in Fort Worth, Texas. 

Chris Gainey and Philip Levy, investment specialists in Marcus & Millichap’s Dallas office, represented the seller, a Dallas–Fort Worth-based developer, in the transaction.  

Fossil Creek at Alta Mesa is located at 6249 Altamesa Blvd., situated within the Tavolo Park development near the Bryant Irvin Road intersection. Built in 2023, the property is 100 percent occupied and sits on a 1.35-acre lot. It is fully leased to a mix of tenants including Meza Pizza, RevFit, Creek Liquor Wine & Cigar, Resort Nail Bar and Stretch Zone. 

Tavolo Park is a 468-acre, master-planned development featuring single-family and multi-family housing, a 100,000-square-foot medical office, hotel, retail, and lifestyle amenities including trails, parks, and a lake.

Billingsley Company announced three new leases at One Arts Plaza, an office building and retail destination in the Dallas Arts District in Dallas, Texas.

Willow Bridge Property Company, a leading name in multifamily property management and investment, has leased 39,238 square feet and will occupy the entire 12th floor of the iconic Arts District office tower.  

Joining them is Lavazza, a global coffee brand with a growing U.S. presence, which has leased 1,842 square feet on the 9th floor. Lavazza was represented by Pat Madsen of JLL in the transaction.

Logistics Property Company, a national developer of logistics real estate, has secured 2,587 square feet on the 7th floor. Renee Castillo and Vada Hayes of CBRE represented Logistics Property Company in the lease.

 JLL Capital Markets arranged the sale and financing of Reserve at Westchase, a 194,919-square-foot, Class-A office property in West Houston, Texas.

JLL represented the seller, Transwestern Investment Group, in the sale of the property to DML Capital, LLC. Additionally, JLL worked on behalf of DML to secure insurance company financing for the acquisition.

Reserve at Westchase is located at 3250 Briarpark Dr. close to Beltway 8 and Westpark Tollway in Houston’s Westchase submarket. This area of the city is largely considered to be the new population center as West

Houston has grown more than 155% over the past 30 years, compared to 86% growth in the Houston metro. As a result, numerous corporations have relocated their headquarters here given the proximity to major thoroughfares and in-demand residential neighborhoods, including The Villages, Spring Branch, Briar Forest and River Oaks.

Originally built in 1999, the four-story Reserve at Westchase building has undergone significant renovations over the past five years. The property offers a recently built first-floor tenant lounge and conference center and a parking garage with 804 spaces. Reserve at Westchase is 76% leased to anchor tenants Mattress Firm, Yang Ming and Taylor Morrison.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Kevin McConn.

JLL’s Debt Advisory team included Managing Director Michael Johnson and Director Michael King.

ACMI Properties, a national industrial developer of mission-critical aerospace and national security facilities, announced several major milestones in the advancement of its 207-acre Exploration Park development on NASA’s Johnson Space Center in Houston, Texas.

ACMI selected Griffin Partners as a new co-development partner, Gensler as the design firm for the project, and Walter P Moore as the civil engineering firm for the pioneering campus. 

As the United States increases efforts to return to the Moon, reach Mars, and expand capabilities in orbit, the need for commercially driven innovation has never been greater. Exploration Park is being developed as the nation’s premier hub to accelerate this next era of exploration — a place where breakthrough technologies are conceived, built, and launched to support America’s leadership in space. KBR, a global leader in science, technology and engineering solutions, will serve as one of the anchor tenants at Exploration Park, establishing a strong foundation for the campus’ commercial ecosystem.

“As the number of people visiting, working, and living in space grows, much of the essential technology to enable that exploration and commerce will be born out of companies located at Exploration Park,” said Simon Shewmaker, Head of Development at ACMI Properties. “We are seeing a cascade of tenancy interest from companies and are thrilled to be working alongside Griffin Partners and leading architecture and engineering firms to bring the project to life.”

Griffin Partners, a Houston-based real estate investment firm with a national footprint and deep expertise in developing successful industrial and office projects, was selected as a strategic partner for the development at Exploration Park, bringing operational scale and precision to the delivery of aerospace, manufacturing, and science facilities.

“Exploration Park is an exciting opportunity to build a place where ideas for the future of space exploration can take shape,” said Fred Griffin, Chairman and Founder of Griffin Partners. “With ACMI and our amazing partners, we’re creating an environment where groundbreaking technologies can be developed and launched.” Travis Covington, President of Development at Griffin Partners adds, “We create spaces where innovation and collaboration can thrive. Our team is committed to turning this vision into reality by delivering best-in-class facilities that empower our partners to do their best work.”

ACMI also announced the selection of key partners for the site’s development, including world-renowned architecture, design, and planning firm Gensler and leading global engineering and consulting firm Walter P Moore as the civil engineer. Gensler brings over 60 years of design leadership and a research-driven, client-focused approach. Leveraging deep local expertise and an established relationship with NASA, Gensler delivers flexible, phased solutions that adapt to evolving requirements and advance ACMI’s strategic vision. Walter P Moore brings nearly a century of expertise designing some of the world’s most innovative structures, leveraging cutting-edge technologies essential to the success off visionary projects like Exploration Park. 

“Gensler is excited to partner with ACMI and Griffin on the vision for Exploration Park,” said Lucian Nesline, Principal at Gensler Houston. “This collaboration allows us to strategically tap into our advanced manufacturing, science and technology design expertise to help build a dynamic environment that fosters innovation in research and development.” 

“Exploration Park represents a significant step in advancing emerging technologies connected to NASA’s Johnson Space Center,” said Charlie Penland, Managing Principal at Walter P Moore. “We are excited to contribute our engineering expertise as part of this collaborative team effort to help bring ACMI’s vision to life in the Clear Lake community.”

Exploration Park is being purpose-built to be a premier hub for commercial space innovation and a global center of excellence for human spaceflight, supporting missions to Mars, the Moon, and orbit, with at least 20 build-to-suit facilities on a campus that can accommodate at least 1.5 million square feet. Designed to support R&D, labs, clean rooms, offices, and light manufacturing, the park will serve key sectors such as aerospace, advanced manufacturing, robotics, life support systems, AI and other technologies critical to human spaceflight, space commerce, and exploration. JLL’s Richard Quarles, David Holland, and Angela Watford are managing leasing efforts at Exploration Park on behalf of ACMI.

You’d think U.S. millionaires would almost always own a home. But a new study shows that a growing number of wealthy people are choosing instead to rent.

RentCafe in a recent Market Insights report said that the number of millionaire renters in the United States has more than tripled in the last five years. In 2019, there were 4,512 U.S. households earning seven figures but choosing to rent.

By 2023? That number increased significantly to 13,700 households.

RentCafe reported that southern cities are seeing the fastest growth in millionaire renters. According to the report, Houston went from seven wealthy renter households in 2019 to 179 by 2023. That represents a 25-fold increase.

In little surprise, RentCafe found that New York City boasted the greatest number of millionaire renter households in 2023, with 5,661. San Francisco came in second place with 1,411, while Los Angeles rounded out the top three with 823.

Chicago had the most millionaire renter households in the Midwest in 2023, with 382. Austin, Texas, ranked 12th on the list with 207 renter households, while Dallas ranked 14th with 185 and Houston 15th with 179.

CanTex Capital acquired a 266,200-square-foot Class-A industrial facility in Dallas.

The property, located on 20.77 acres in the Mountain Creek Industrial Business Park, reflects CanTex’s ongoing activity in the Dallas-Fort Worth market and an expansion into newer industrial product.

The facility boasts a 34-foot clear height, 3,000 amps of power, and approximately 8,000 square feet of office space. The site also features 285 parking spaces and four acres of additional land that may be used for outdoor storage or future development. It is accessible via I-20, the George Bush Turnpike, Highway 67, and Loop 12.

CanTex Capital plans to invest in property improvements, including updates to the roof, warehouse lighting, office space, new branding, and refreshed marketing materials.

CanTex Capital currently owns more than 6 million square feet of industrial assets, with a specific focus on the renovation and repositioning of these properties. As one of the most active industrial buyers in the state of Texas, the firm has 32 acquisitions on track to close by mid-year 2025.  

CanTex Capital partnered with DB9 Capital on this acquisition. DB9 isa Dallas-based private investment firm that strategically invests private, family capital in “value-add” opportunities with a focus on long-term value creation. The firm’s diverse portfolio primarily includes well-managed retail, industrial, and land assets that derive strong risk-adjusted returns.