Bisnow Texas Week In Review: The Stories You’ll Be Talking About This Week
Bisnow’s Texas week in review offers a quick bullet-by-bullet dive into the most notable stories of the week — from JPI being set to be acquired by Sumitomo Forestry to Houston's life sciences market being poised to significant expansions and much more.
***
Dallas-Based JPI To Be Acquired By Japanese Investor Sumitomo Forestry
JPI, a highly prolific Texas-based apartment developer, is to be acquired by Sumitomo Forestry in a deal valued up to $215M. The Japanese housing developer plans to purchase 90% of JPI's shares, with JPI maintaining its name and Irving headquarters. The acquisition, which significantly expands Sumitomo's commercial real estate presence, is expected to finalize by year-end. Read more
1M SF Of Purpose-Built Real Estate Could Boost Houston’s Life Sciences Market Ranking
Houston's life sciences market is set to gain nearly 1M SF of purpose-built real estate this year, potentially elevating its national ranking. Four buildings — Alexandria Real Estate Equities’ life sciences campus in The Woodlands and three within the Texas Medical Center — will provide crucial infrastructure, addressing a previous lack of specialized buildings and aiding in attracting and retaining life sciences entities and talent. Read more
IOS Activity In DFW Slows As Stormy Economy Spins Sector Off Course
Despite persistent demand for industrial outdoor storage in Dallas-Fort Worth, financing challenges have dampened momentum. IOS acquisitions have declined due to a lack of liquidity and rising interest rates, despite the region's appeal due to its strategic location and thriving industrial market. Although IOS leasing and acquisition activities have slowed, the long-term prospects for DFW remain robust, with expectations of a surge in IOS development and acquisition activities once lending resumes. Read more
NRG Energy Is Latest Houston Firm To Downsize As It Signs New HQ Lease
NRG Energy is downsizing and relocating its headquarters to 3 Houston Center in January 2026, signing a 245K SF lease for the top 10 floors. The move from its 431K SF subleased space aligns with providing new amenities and creating collaborative workspaces for its workforce, amidst a trend of significant downsizing in Houston’s office leasing activity this year. Read more
The ‘Avalanche Of Loan Maturities’ Coming For Houston’s Office Market Could Benefit Opportunists
Houston's office market faces a potential wave of loan defaults due to challenging financing conditions, yet this could open up opportunities for investors. High interest rates and changing work trends continue to impact the market negatively, but the upcoming defaults might present new possibilities for opportunistic acquisitions. Read more
Vote On Ordinance Change That Could Protect Heavy Polluters Delayed Until November
West Dallas residents oppose a proposed zoning amendment that might restrict their ability to petition for the removal of heavy polluters in their neighborhood. The Zoning Ordinance Advisory Committee is considering changes that would complicate citizens' efforts to initiate the removal of nearby polluters, but a vote was delayed until Nov. 14. The proposed changes are intended to align city code with recent legislative adjustments. Read more
Developers Pitch $120M Mixed-Use Project For Panther Island In Fort Worth
Tillar Partners proposed a $120M mixed-use project, Vaquero Panther Island, with 512K SF of Class-A offices over retail and structured parking on 12 acres. This project, expected to stimulate further development on Panther Island, follows a $403M federal grant awarded last year for a flood control project, crucial for unlocking land for development in the 800-acre area north of Downtown Fort Worth. Read more
‘The Place Is Garbage’: Former Applesway Property Tenants Demand Action
Tenants from two multifamily complexes, previously under Applesway Investment Group, are protesting against alleged abusive evictions and uninhabitable conditions. The tenants, now part of the Southeast Tenant Information Organization, are demanding improvements and an end to evictions, asserting that they are experiencing deplorable living conditions and improper eviction practices after being placed in the complexes by the Houston Housing Authority and other service providers. Read more
Howard Hughes Spinning Off Seaport, Vegas Assets, Tapping Casino Vet As CEO
Houston-based Howard Hughes Corp. is forming a new subsidiary, Seaport Entertainment, to manage its New York and Las Vegas assets, appointing Anton Nikodemus, a seasoned Vegas executive, as CEO. The spinoff, which includes South Street Seaport holdings, the Las Vegas Aviators, and a stake in Fashion Show Mall's air rights, is expected to finalize by 2024, allowing Howard Hughes to concentrate on its real estate and master-planned communities. Read more
EDITOR’S NOTE: Parts of this story were generated by AI and have been reviewed by our editorial team for accuracy.
