Marcus & Millichap closed the sale of Candlewood Suites Pearland, an IHG Hotel in Pearland, Texas. 

Skyler Cooper, senior vice president in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller with support from Chris Gomes and Allan Miller of the Miller-Gomes Hotel Group of Marcus & Millichap. The buyer was procured by Cooper, Gomes and Miller.  

The Candlewood Suites Pearland is a three-story, 76-room hotel at 9015 Broadway St., near major thoroughfares including State Highway 288, State Highway 35 and Interstate 45. Amenities include a fitness center, business center and 24-hour market. Nearby demand drivers include NRG Park, which draws 5.5 million visitors annually, and the Texas Medical Center, the world’s largest medical complex. 

Arden Logistics Parks (ALP), the national logistics real estate operating platform of Arden Group, has reaffirmed its long-term commitment to North Park 34 in North Houston, Texas, with a significant capital reinvestment following a successful refinance.

The $8 million allocation is funding a comprehensive improvement initiative across the 865,000-square-foot, 34-building industrial park to enhance tenant experience and drive continued leasing success.

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, serves as the exclusive leasing team for North Park 34. Vice President Abraham Richardson, Senior Associate Meg Zschappel, and Associate Zach Young lead the leasing efforts on behalf of ALP.

Since acquiring the park in late 2021, ALP has transformed North Park 34 into a modern industrial campus designed to meet the evolving needs of today’s users. Extensive upgrades have been completed across the park, including full exterior repainting of all buildings, energy-efficient LED lighting enhancements, and the installation of drought-tolerant landscaping to reduce environmental impact.

Additionally, 30 vacant suites have undergone full interior renovations, and ongoing make-ready work has ensured that available spaces are delivered in turnkey condition for immediate occupancy. So far in 2025, ALP has completed 24,442 square feet of delivered make-ready projects, with an additional 71,319 square feet of pending projects scheduled for completion this year.

As a result of the improvements, North Park 34 has executed 48 leases totaling nearly 252,000 square feet over the past 12 months. The repositioning efforts have translated into a 90% tenant retention rate, demonstrating the value of ALP’s investment in the park’s physical condition and tenant experience.

North Park 34, located near the intersection of Beltway 8 and the Hardy Toll Road, offers immediate access to Interstate 45, Interstate 69, and George Bush Intercontinental Airport. The park provides a wide variety of suite sizes, ranging from 1,500 to 40,000 square feet, and features grade-level, semi-dock, and dock-high loading options. With ample surface parking, on-site property management, and a refreshed visual identity, the property continues to attract high-quality industrial users seeking move-in-ready space in a core infill location.

ALP intends to continue investing in the park with further suite upgrades, building systems enhancements, and tenant-focused offerings that support long-term occupancy and growth.

Howard Hughes Holdings Inc. acquired 10101 Woodloch Forest Drive in the community of The Woodlands in Texas.

The Class-A office building, which will be renamed 7 Waterway, adds over 200,000 square feet of available office space to the company’s growing portfolio in the highly desirable Waterway District. The eight-story building, purchased for $16.3 million, sits on a 1.6-acre site, with 700 parking spaces in an adjacent garage owned by the company under a perpetual parking agreement. The unoccupied building provides Howard Hughes with the immediate ability to offer in-demand Class A office space in the region’s highest-performing office submarket.

Originally built in 2009, 7 Waterway boasts close proximity to I-45 and convenient access to world-class amenities within walking distance, including 645 hotel rooms; more than two million square feet of shopping and dining at Waterway Square, Market Street, and The Woodlands Mall; as well as 1,157 luxury multifamily units.

Today’s rental market is pushing property managers to shift their priorities significantly to remain competitive. Multifamily vacancies have risen to 6.3%, the highest levels we’ve seen since 2011—even including the early days of the COVID-19 pandemic. It’s no surprise, then, that maintaining occupancy rates is now the top threat property managers say they face. 

In a competitive market, resident experience is more important than ever to attract new residents and drive retention. Modern consumer technology has evolved renter expectations, and property managers need to think differently to satisfy new and current residents. 

New data from AppFolio’s 2025 Renter Preferences Report sheds light on an overlooked way to stand out and delight renters: closing the resident services gap. According to the report, the demand for residential services, such as onboarding services and digital experiences, far exceeds the current availability. Let’s explore this gap in available resident services and how property managers can elevate their resident experience to close it.

The Modern Rental Landscape

During the pandemic, the demand for renting was significant. With rental interest so high, property managers were able to focus on top-of-funnel efforts, like promoting listings and engaging through social media, to bring in new residents.

Now, move-in trends have changed, with rental vacancies approaching a 15-year high. Meanwhile, the number of new units available for leasing has continued to climb, expected to cap out at more than 600,000 units in 2025, which is slightly more than in 2024.

Top-of-funnel tactics are no longer enough to offset this dramatic shift. Property managers’ top concern is maintaining occupancy rates, and when it comes to occupancy, current renter satisfaction creates a massive ripple effect.

According to the 2025 Renter Preferences Report, satisfied renters are 71% more likely to renew their lease and over five times more likely to recommend their property manager. To focus their efforts on occupancy, property managers need to shift from a demand mindset to an experience mindset—to deliver a first-class experience to the residents they have while differentiating themselves to prospective renters.

But what do renters want their ideal rental experience to look like?

The Resident Services Gap

The demand for several resident services that renters prioritize far exceeds their current availability: 

• Over three-quarters of renters find it important to have an online resident portal or mobile app, but only 57% said they have one
• 71% place importance on benefit packages or bundled add-on services, while only 42% have these
• 61% find smart home technology important, while only 45% have it in their units
• 60% of those who have received digital move-in services found them important, but only 38% had them available

Beyond the significant delta between high-importance services and their availability, it’s worth noting that Gen Z places the greatest importance on these services, emphasizing the changing expectations of a new generation of renters. Gen Z is the only generational group of renters that is actively growing and will be the single largest group of renters by 2030.

Not only are these services important to residents, but 79% of residents are willing to pay for at least one resident service through their property manager, including Internet, renters insurance, a renter rewards program and pest control. 

Closing the Resident Services Gap

In this renter’s market, differentiation is key. And the smartest way to stand apart is by offering a high-quality experience that delivers what residents are looking for—but aren’t getting.

One of the greatest pain points for renters is the move-in process, making it a prime opportunity for property managers to set themselves apart. Seventy-five percent of residents experience challenges with moving in, and modern services can make it much smoother.

Only 38% of residents have digital move-in services available, while 81% who’ve used them found them helpful. With such a large portion of residents struggling with moving in and such a low number of residents with digital move-in services currently available, making these services accessible should be a top priority for property managers.

The other prominent opportunity for property managers to improve the experience of their current residents and attract new ones is digitization. Aside from move-in services, the most important resident needs with large deficits in availability are having a resident portal or mobile app, and smart home technology.

Especially as younger generations continue to take over the rental market, expectations for a progressively digitized resident experience are increasing. Offering digital services like a resident portal, mobile app, and smart home technology in units creates more renter-friendly experiences and empowers residents to manage their rental needs with the touch of a button.

Adam Feinstein, is vice president of product for AppFolio.

Kimpton finalized plans with Houston-based DC Partners to develop the brand’s fourth Texas location in the picturesque Hill Country. Poised to open in 2027, Kimpton Fredericksburg in Fredericksburg, Texas, will anchor the 22-acre mixed-use development The Meuse.

Named after Fredericksburg’s founder, John O. Meusebach, the development is designed to seamlessly extend downtown’s charm by combining local authenticity with luxurious hospitality, retail and dining destinations. 

The 210-room luxury lifestyle hotel will be brought to life by Dallas-based Merriman Anderson Architects and interior design studio Curioso and will complement the town’s inspiring atmosphere and warm hospitality, providing a vibrant social hub filled with expansive experiences for visitors and locals alike.

Thoughtful design details will also be incorporated to preserve the natural beauty of the Hill Country, including intelligent climate systems as well as native, low-water consuming landscaping and plumbing fixtures to minimize environmental impact. Kimpton Fredericksburg will feature distinctive dining options, including a full-service restaurant and bar, along with a poolside bar and lounge. Additional amenities will include a 10,000 square-foot resort-style outdoor pool and deck, a state-of-the-art fitness center and a café with thoughtful takeaways. As with all Kimptons, the hotel will also feature perks such as Kimpton Social evening social hour, a “Forgot It? We’ve Got It!” program, in-room yoga mats and pet-friendly policies.

Kimpton Fredericksburg, just 90 minutes from Austin and San Antonio, will offer over 18,500 square feet of indoor/outdoor flexible event space, including an event barn, pre-function spaces, meeting rooms, a rooftop lounge and outdoor gathering areas. With 210 guest rooms and Kimpton’s expertise in delivering genuine hospitality and memorable events, Kimpton Fredericksburg will be the first in the region to pair large format accommodations and a full-service events program under one roof – making it the ideal destination for weddings, celebrations, local events and benefits, and corporate retreats.

With expansive natural landscapes and rolling hills as its backdrop, Fredericksburg enchants visitors with its historic architecture, locally-owned boutiques and antique shops, inspired art galleries and farm-to-table cuisine. The Texas Hill Country is also one of the fastest-growing wine regions in the United States and Fredericksburg is hailed as the epicenter of Texas Wine Country. With more than 75 wineries, vineyards and tasting rooms nearby, visiting wine enthusiasts can sip acclaimed vintages while taking in the surrounding scenery. Guests who instead seek outdoor adventures can immerse themselves in golfing, fishing, horseback riding or hiking at Enchanted Rock State Natural Area. As part of The Meuse, business and leisure travelers staying at Kimpton Fredericksburg will also have convenient access to the mixed-use development’s more than 70,000 square feet of retail and dining space – all designed to complement and serve as an extension of downtown’s Main Street.

AppFolio earlier this month released its 2025 AppFolio Renter Preferences Report, a look at the amenities and services that multifamily renters most want. And topping the list? Anything that makes renters’ daily lives easier.

This year’s report includes insights from more than 2,000 U.S. renters. It’s goal is to give property managers an edge in a competitive market shaped by rising costs, higher vacancies, and slower rent growth.

Residents Want Services That Offer Convenience in Their Daily Lives

According to the AppFolio report, today’s renters expect property managers to offer a digital, consumer-friendly experience similar to what they receive from retailers and on-demand applications. However, the availability of these services – like renter rewards programs, security deposit alternatives, and prompt maintenance support – is still limited, presenting a gap for property managers to fill.

• Residents who are satisfied with their property manager are 73% more likely to plan to renew their lease. Similarly, those who are satisfied with maintenance are 71% more likely to say they are planning to renew their lease, and 86% of renters who are satisfied with communication about maintenance issues are also satisfied with their property manager.
• Despite online payments becoming more common, 39% of renters still pay rent through traditional methods like cash or check, with 59% of those renters reporting that online payments are not available to them.
• When considering a new rental, renters report the most valuable financial services to them are online rent payment (86%), rent reporting (72%), renter rewards programs (72%), flexible rent (69%), and security deposit alternatives (65%).

Modernizing the Moving Experience Is an Untapped Opportunity

Moving is a highly stressful part of the rental journey and while digital move-in services can greatly reduce this burden, they remain underutilized. Those who use them overwhelmingly find them helpful.

• While 35% of renters plan to move from their current housing, primarily seeking better living spaces or lower rent, 44% of those choosing to renew their leases cite the high cost of moving as their main reason for staying.
• Three-fourths of renters have experienced challenges during the move-in process, with setting up utilities being reported as the top issue.
• Fewer than 30% of renters have completed their move-in tasks through digital tools, yet 80% of those who have used them found the digital tools beneficial.

Understanding Generational Differences Is Key to Meeting and Exceeding Resident Expectations

Gen Z is on track to become the largest renter demographic by 2030. With accessing homeownership continuing to be a challenge, many see rental homes as long-term residences and expect homes that use technology to improve everyday life.

• 71% of Gen Z renters consider digital move-in services important, compared to 58% of Millennials, 53% of Gen X, and 34% of Baby Boomers.
• When evaluating a new rental, 69% of Gen Z are interested in smart home technology, compared to 58% of Millennials, 50% of Gen X, and 46% of Baby Boomers.
• 77% of Gen Z renters prioritize flexible rent, in contrast to 67% of Millennials, 49% of Gen X, and 37% of Baby Boomers.

“Residents expect fast, easy, and personalized experiences—and our report shows that demand is only growing,” said Stacy Holden, Vice President, Industry Principal at AppFolio. “Property managers that meet and exceed resident expectations will not only address current gaps in service but also attract new renters and build stronger relationships with existing residents.”